Member Info for sire_frugalman

From AFR:
"The owner of the tenements that surround SolGold, Gina Rinehart, would not doubt be interested if Newcrest's stake came on the market."

No better speculation than anything ever posted on this board.

Quady you’re right, politicians would never lie or indulge in hype. Just imagine if, for example, politicians in the UK rode around on a bus telling everyone that if they voted a certain way in a referendum then the NHS would receive an enormous uplift in funding, only for it never to happen and never to have had any basis in reality.

A totally preposterous suggestion that a politician would ever say anything but the absolute verifiable honest factual truth.

gwm its not on aim so should probably tighten up your research

back to the 16s red... more at 11

RK1:

How many £44m quoted companies have you been CEO of...?

Possibly the weakest response you could have come up with. Next time just type "ur mum".

Fortissmo, r.e "Inflation is expected to fall back to 3% levels in next 6 months or so" - do you have a source for this? That seems like absurdly wishful thinking.

Note that such cheap shares are available to anyone right now on the open market... The price will only look cheap if a future increase in value is obtained

Personally I'd look to dispose of the majority of my holding upon news of a JV. There'd probably be a decent bounce.

But then you're on a mission from hell to build a mine in the middle of butt **** nowhere, liable for construction costs, with a partner who will happily drag you along and chip away at your share.

Whilst not a JV, check out PUR for an example of mine building gone wrong. Or Rio's mongolia debacle.

Auction style takeover however doesn't have an upper limit on value and is a clean outcome for PI's.

He left this board after being driven out by the idiots. You can find him on twitter though https://twitter.com/hubrishunter

I was just commenting on the volume on TSX, nothing else

(on $600 worth of shares traded)

so he keeps banging on about fair value, but it's not clear what fair value actually is?

Quady please see my "apologies" thread already posted

The Board of Directors of SolGold (LSE & TSX:SOLG) is pleased to announce that investors, including Jiangxi Copper (Hong Kong) Investment Company Limited ("Jiangxi"), (the "Investors") have agreed to purchase 180,000,000 shares (the "Investment Shares") at a price of US$0.20 per share (the "Investment"). Jiangxi has agreed to purchase 155,000,000 of the Investment Shares. The Investment Shares are expected to raise gross proceeds of US$36,000,000.

Was half asleep this morning. As per RK1 - these are indeed new shares. Jiangxi are buying 155M of them. The number is confusing as it's so simlar to the 157.1M that CGP hold. I wonder if those will still be sold.

addicknt what are the 155m "investment shares" if not CGP's? Another exact 155m from somewhere?

Frotissimo how did you calculate 6% dilution?

RK1 we are selling the CGP shares, the RNS specifically metions 155m investment shares.

Correct. We sold the 155M shares as promised. People are saying things like "what do we need the money for" etc, but i think that's the besides the point. It's to force someones hand and improve our own negotiating stance. We don't need to raise cash just to keep things ticking over. The interim CEO has already talked about reducing burn.

Possibilities with the additional ~30m shares -

1. Chinese wanted more
2. It further dilutes BHP et al. - would they be below 10% now? That further closes the gap between chinese and BHP/newcrest, further increasing the tension on those 2
3. It's only like 1.3% dilution? Not a huge amount to most other folks.

Nothing necessarily about us needing to / wanting the extra $6m or whatever it is.

Quady the RNS states:

Jiangxi has agreed to purchase 155,000,000 of the Investment Shares. The Investment Shares are expected to raise gross proceeds of US$36,000,000.

155M is the same number from CGP. Is the "investment shares" something different? Total number of shares is 180M?

I thought you read everything the company says?

Correct senderos. Shots fired with this line from the RNS:

They are a highly accomplished mining company and more importantly, 100% aligned with SolGold in ensuring all stakeholders are treated respectfully and fairly.