Member Info for schlemiel

thanks - i'm not au fait with the nature and mechanics of options. I don't have the knowledge nor the intelligence to fully appreciate their influence though I am cognisant of the fact that they are a form of dilution

I can see 22500 sell order at 50p...it's way off touch so irrelevant but nice to see the £1/2 marker

How does that work? If an option holder exercises their stock, they buy the stock at say 14p and then presumably sell them a profit (14p minus selling price * quantity = profit)..

Moreover, do they have to sell their stock following their decision to 'exercise and buy' and if so can BHP (or whoever) simply offer them a price 'off market'?

498k v 322k - bid depth increasing

Well, we had options exercised in the last two weeks or so and the price hasn't flickered. The price took them in its stride

463k v 302k

touch is

2 v 1 (9800 v 25k)

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this is really gonna go for it, hopefully!

There's no heavy sell order on the offer either - the coast is clear, at present (caveat)

this is gonna pop

456k v 263k - bid depth strengthening

Good morning Mr-Ms-Mrs-Italian

L2 - depth

412k v 315k

MM's sat at around 33.50's and below so it's DMA traders at present..we want those MM's and DMA traders (they enjoy anonymity which is a joke) fighting for stock, which hopefully will come in time

Come on BHP, let's have news of you adding or indeed another major..

I'm not being contrary fellas in reinforcing my argument ie production v a series of liquidity events to reward the shareholder but I saw what happened to Carillion and how debt can completely destroy shareholder capital - without debt the asset is 100% of ours. With debt adds an whole new dimension of risk. Taking this to production injects whole layers of risk to shareholder equity from mining hiccups, copper price volatility, environmental activism, trades union involvement, political change.

The risk increases markedly if SOLG does decide to cross the Rubicon from explorer to producer

Enjoy the rest of your Sunday. I'm off to confession to beg forgiveness for my sins.

zeus - spot on, as always. It is the height of naivety to assume Solgold would be able to finance, plan, build and operate a mine of this size. In fact, I am tired of discussing this one issue. If this does happen, you will be diluted into the ground and since Mather owns 15% of SOLG I don't believe he would sanction the destruction of his own shareholding

Take Alpala-Cascabel as far as we can and then offload to a major like BHP-Rio-Codelco-Vale-China etal

'are' and maybe 'infinitely' is the wrong term to use but you get my drift

Yes, but there's reserves and then there's reserves. Not all reserves are created equal. The cost of extracting shallow reserves if infinitely cheaper than the cost extracting deep-embedded reserves. They're both technically reserves but the relative costs of extraction are very different

BHP built a desalination plant at Escondida at a cost of $3.5bn (58% BHP, 30 Rio-Tinto, 10%, JECO)

That is a huge capital outlay for a mine. I only point this out because of the cost of water supply for Alpala-Cascabel. I'm not sure what that cost would be but if it's a fraction of Escondida then the economics of the project become even more enticing as water supplies are absolutely essential for copper mining and copper processing.

Reading about Escondida, its discovery, capex outlay etc provides an insight into the practical requirements of developing a large commodity discovery

Skull - yes, that is the timescale. Mather's got to fill it all in (PEA, more drilling, keep drilling) before that date. The question is why did Mather choose 30-Aug-2019? What's the significance of that date? Why choose a date at all? Is that normal corporate practice?

'The deal sets the stage for a potential showdown with Australian gold miner Newcrest Mining Ltd, the top shareholder in SolGold, Cascabel's majority owner and operator, with a 14.54 percent stake.

"It's a pretty attractive asset. It's early stage but the geology looks prospective," said a Melbourne-based analyst for a fund manager, who declined to be named due to company policy.

"This basically means that Newcrest isn't going to have it all to themselves. I think if I was Newcrest or SolGold management, I would be a bit nervous about BHP being in there."

Any stake of more than 5 percent gives a shareholder the right to requisition a general meeting and circulate a resolution under English company law.'

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https://www.cnbc.com/2018/09/05/reuters-america-update-3-bhp-buys-into-ecuador-copper-project-with-35-mln-solgold-stake.html

'Newcrest continues to be bound until 30 August 2019 by an obligation to support certain transactions including change of control transactions in SolGold which are recommended by the Board, supported by an independent evaluation, and supported by not less than 60% of the Company's shareholders in acceptances or at a General Meeting of shareholders.'

1 v 2 (3.2k v 45k) -

off out so no updates now..gla

L2 is getting stronger

1 v 1 (40k v 1160) - only 1160 shares left on the offer

depth

461k v 294k

this book is primed for price gains today if the necessary buying of stock happens. Of course if selling occurs then the price will suffer!

L2 looking very good at depth

410k v 289k

touch :

1 v 1 (5k) either side

EMS = 20k