Member Info for Strider4

Blocker in the sense impediment - not insurmountable of course.

Hmm, interesting. I suppose SOLG's match would have to be like for like...

Addicknt, that's true. But it's a very significant blocker. The majors know that SOLG has this power, so any bid that they come up with would have to be something fairly tasty - otherwise they know SOLG will just match it and they'll have to either revise or back down.

"Better results than solg, market tracking same way big dive down then recovers."

LOL - you're having a laugh right?! These results are straight out of SOLG's rejects. The couple of drill holes put into Aguinaga looked just as good if not better, and Aggy has been relegated to the back seat. Dream on.

You sold yet FR? 3p still on the cards? Or were you always just planning on trading the hype?

Ok, so there it is thanks.

"SolGold holds pre-emptive rights over any disposals by Cornerstone".

That little one liner is going to play a crucial part in the outcome of whatever happens in the coming months. It is an Ace in NM's hand. Has he got a couple more up his sleeve?

Don't worry Pinot - not biting this time. I worked out what makes FR tick some time ago.

FR, I would have that that LTHs would have been falling over themselves to share this piece of information. It's rather important. Every other piece of information is shared on here and yet this one...not so much.

Ref your back-patting earlier on - didn't take a genius to see a bounce from 35p did it? Sickening.

"to start nibbling away at those 100,000 blocks"

Where's big Schlem to give us that all-important L2 update when you need him?! Ah yes, he's defected to the FOG board me thinks...

FR, yes I have - if it's an easy-to-find piece of information, why not just post which in communication of SEDAR it is stated and save me the trouble...

Sav - I take your point ref control and NM/SI issues. I would think that SI has his price however...everyone is always saying he's looking for a quick buck. I don't think he's interested in control or managing the company - instead I think he's interested in making money and quickly.

Ref, SOLG's first refusal of CGP's 15% of ENSA, that is indeed extremely important. However, in a quick 30 minute examination of RNS past, I can't find where it states that. Can you or any of the other LTHs point to where it is exactly?

Ref "controlling interest" - I was referring to a controlling interest in ENSA - not SOLG. Let's say Newcrest takes out CGP. They would then have the following interest in ENSA: 15+0.09*85+0.15*85 = 35.4%. Clearly, that's not a majority but it's a huge whack - far too big for BHP or any other seriously interested major to just stand by and watch it slip through their fingers...

Addicknt - agree with most of that. I know that you've used the word "vulnerable" in the sense of vulnerable to a takeover - so actually that's not a bad thing?!

If the fireworks kick off with CGP looking to get full value then it can only be positive for SOLG in the end. Whoever takes on CGP is effectively starting the full takeover process of both...the additional 23% control of ENSA plus their 10% stakes is a big slice of the project. BHP doesn't like to share - stated in their recent strategy update. When CGP goes, it will be the beginning of the end for SOLG. Anyone holding shares at this price will be handsomely rewarded.

SOLG has first refusal on CGP's sale of its 15% of ENSA? Is that written in one of the RNS or stated in a presentation?

How is the price high if they are on track to deliver $500m EBITDA?! That's a PE of 4...

Iron ore prices are likely to remain elevated for a while too I would have thought given what's happened in Brazil.

Where's it going this time? The traders, mentioning no names, will be hoping for a quick rinse and repeat at 39ish - is this going to finally be the time that they lose out and pretty much wipe out all of their gains, in opportunity loss, from their previous efforts?

Agree, today was a buying opportunity. Huge over-reaction. Price down to support and a healthy bounce. Should resume its upwards trajectory again, now that the knee-jerk is out of the way.

Is the fact that he's proposed it now, before the PEA release, significant? CGP holders would have 5 months to take up the offer - am I right? If so, that would take things well past the PEA anyway...

Then there's the end of the Newcrest standstill in September - does he want to get this done before then? But, all this is obvious to everyone involved so what's the incentive to CGP holders?

The motivations remain unclear at the moment I think. One thing is clear though, given Nick's insider position and the knowledge he has of/relationship with Cornerstone, he has decided to go ahead with this offer and he will have done so EXPECTING A POSITIVE RESULT. What that positive result is yet we don't know. Can't fault Nick for his tactics so far, so I feel confident that something good is going to come of this, and soon.

Too kind Nick - I'll message you privately then so we can arrange the transfer :)

Knuttsford's bushyv sixth sense is tingling. A buy signal has been given. Quick, before the opportunity passes...

Nick26 - while we're on this off-topic...SOLG was actually listed first on AIM I believe. It's an Australian company and it's flagship project is in Ecuador. They listed on the TSX as there is a huge mining market there. The listing itself seems to have had very little impact (either positive or negative) in the medium and long term, so far.

Alfa, evading the question again! My takehome is that dilution is a real possibility, both from the point of view of not having to take on debt, but it may also be used to "accelerate" growth.

It would be a perfectly sensible move for Fortune to make and he doesn't appear to have ruled it out.

Nick, ok I take your point. And I also note that dilution has not been ruled out. What's the point of being a public listed company if you can't take advantage of a situation like this, without having to resort to a sizable amount of onerous debt?