Member Info for SharketMare

Shameful - go away.

Yes earthling, that is my preference too after the last few bits of news from the company.

No hard feelings Quady more friendly patter than taking the juice...

Personally I think that RNS like the one today are very transparently flagging to the majors that SOLG is confident of finding another Alpala at one of its other licenses. This is NM and co saying if you want to take us out, put something serious on the table or in 6 weeks time it will likely be worth double.

Over the last few days I have increasingly have preference for SOLG selling Alpala and rolling out the blueprint over the regionals. That would be a very fun ride for shareholders.

Quady, I will start taking everything NM says at face value when you stop butchering the English comma. Honestly, pal, reading your posts this early in the morning hurts my brain! Leave the poor comma key alone!

If you seriously have hopes of holding this share when it is taken over and pushes 45p+ then I must repsectfully say that it seems silly to have sold your holding for 31p, in the hope it will retrace back to 28p.

Given the fact we are expecting Porvenir results in 3 weeks' time, BHP are off the leash in 2 weeks' time and the PFS will be with us shortly, it very much feels like the only way is up from this point.

AIMHO.

Quady, I appreciate that you are adamant that this is going to production, but NM simply has to go down the finance exploration route so that potential bidders think that he is serious about taking this all the way. If he just sat on his laurels and waited for the Franco cash to run out, it would put SOLG in a weak position and buyers would get us on the cheap.

Personally I thought you could almost hear in his voice that he was saying it with a wry smile inside. It's just part of the game. IMO.

Dreamboat, thank you for sharing the SOLG response.
allthatguff, thank youf or sharing that resource - I am still learning here, not trying to sow uncertainty. This is good news, looking forward to the PFS.

@zoros - I have to agree with your reading of things here. See yesterday's RNS:

"SolGold confirms that a new NI 43-101 Technical Report will be developed as part of the ongoing Preliminary Feasibility Study ("PFS") and is expected to be filed by the end of December 2020."

So the Technical Report 'is expected' to be filed by end of December 2020 and will be a 'part' of the ongoing PFS. Am I right in thinking that the PFS can only be published in full once the Technical Report has been filed/completed? If so, PFS is unlikely to be this year.

But my reading may be wrong...

There is nothing stopping BHP making a bid TODAY if they wanted to - they would have to do it through formal channels though, i.e. speaking to NM and the board who would then present the bid to shareholders. What they are prohibited from doing at the moment is making a hostile takeover bid. This is my understanding of the current bind they are in.

BHP know that if they try and privately lowball NM with a bid of say 50p or 60p - probably anything below a quid - NM and the board will tell them to sod off so it's a waste of time and the offer will never see the light of day. There is the possibility that they decide to go down this route in a month's time, but personally I don't see it happening in light of the uncertainty brought about by Covid-19 (both in Ecuador and globally).

I still think that this will be taken over but I am sceptical it will happen as soon as some on here are hoping.

I would love to know what is really going on behind the scenes here: who is manipulating this price and keeping it trading within this range.

I find it unbelievable - in the most literal sense of the word - that the SP is naturally staying between the 25-27p range when you consider a few things. 1) Franco Nevada deal getting done 2) POG flying and forecast to fly higher still 3) Strong rumours of a takeover bid 4) Our bid for CGP and the implications arising from us potentially acquiring it

All four of the above should be pushing this up or down with far greater volatility than we are currently seeing, in my opnion. Where is the volume? Why do people not want to invest in the world's most promising copper/gold asset that is openly sought after by majors?

I'm in no rush here.. just baffled.

Morning Richer. One point that I often see overlooked by those insistent that Oct 15th onwards is open season for bids on SOLG - why would NCM readily give up their stake in the company if BHP or another major comes in with a lowball offer of say 50p? This is not going to be a straightforward take over because the assets and the potential of the licenses are so good, and at least two majors already have their claws in deep enough to play hardball.

@earthling, I definitely share your frustrations around positive RNS being met with a muted reaction by the market. It is not always the case (we leapt on those high grade gold results the other day) but it does seem to happen more often than not.

RE lithium - we basically got unlucky timing wise. The asset is there and we know roughly how much of the stuff we have, but prices fell off a cliff and lithium was no longer flavour of the month on AIM. Once Li prices start to recover I would hope to see that further reflected in our SP. Though by that time I think that Zaranou will have taken us back to 30p+.

What I don't get, is why car manufacturers and other companies reported to be interested in securing their lithium supplies don't make approaches for Li assets when the price is low. Yes they may get rebuffed, but sure offering above market prices for a lithium mine when prices are at rock bottom makes more sense than fighting over one when prices are sky high?

Earthling, if you've held for 5 years you would surely be mad to sell now, when the company over the next 9 months will hopefully have a maiden resource estimate on a very promising gold mine. At a time when gold is at all time highs too. I get frustrated with this share at times tbut the rewards here are very clear for those who have done their research. If your average is low and you don't need the cash then holding is a no brainer.

Morning Quady, thank you for the response, yes it is indeed helpful.

@Quady, a question I have if you would care to answer it please. Below is from the 25/11/19 RNS

Subject to permitted exclusions, BHP has agreed not to acquire further shares in, or make an offer for, SolGold for a period of two years (to 15 October 2020). Permitted exclusions to this provision include:

--a right for BHP to acquire up to 246,634,271 shares in SolGold (not counting shares acquired by way of certain permitted acquisitions). SolGold has waived this provision in respect of the issue contemplated by the agreement which is the subject of this announcement;

--a right to make an offer to acquire SolGold provided such offer has been first approved and recommended to shareholders by the Board of SolGold.

Regarding this second clause, if BHP wanted to bid to take out SOLG, can they not notify Nick Mather and the board that they intend on doing so, and then if the board is interested in hearing what that offer is (and then recommends it to shareholders), BHP can go ahead and make a bid? Sorry in advance if this is a silly question. But my understanding of that second clause is confusing me.

Fully agree with this - 148.60p paid just now

Did you know something we didn't earthling! Exciting times here and at our Ecuadorian cousin (enjoy your posts on that manic bb...)

Hope the company gets some good PR off the back of this update. Real game changer.

Wow.. very excited to see how this pans out today!

How long have you been alive for your to form that opinion of silver? Several hundred years..?

Such insight.