Member Info for Strider4

Lobon - I take it that's an answer to my first question.

Geo1539 - at least somebody remembers it as it was! Amazing how many people have memories that distort to suit their agenda. Honestly, from a chart point of view, the price is hitting a strong resistance band now. There is a LONG way to go before it's in the clear and that is going to require considerable buying power. I believe said power is going to require proof of profitability and that is going to take time. HUM remains on my watch list but my finger is probably 6 months to a year off the buy button.

The offer is by-passing management and going direct to the shareholders if I'm correct? So, each shareholder in Cornerstone can make their own mind up if they want free money or not...doubtless this will at least result in SOLG gaining a significant percentage ownership of Cornerstone, if it goes ahead. It's basically a hostile takeover isn't it?

And ref the PEA - I think it will be delivered in Q1 before PDAC. You're just hoping there, as it makes you feel less uneasy about being sat on the sidelines, trying to snag an extra pence off the price.

SH, I can see your point of view wrt to risk. But not sure how the following statement fits into that:
"The 35p-38p range of late has been an absolute cash cow, and if we stay in it I'll be back it, if it settles lower I'll be back in - all I'm doing is agreeing with bottomzup that the real short termers and recent punters might drift away until this current situation is resolved. PEA not likely until Cornerstone absorbed."

What you are basically saying is that you would like to be vindicated in your sale and see the price drop to 35p, at which point you will buy back in again. After all you will have to since this trading range has been such a "cash cow". How will you know if it will hold again this time if it goes there...until after the fact? Either you have a plan to get back in at 35p or you don't. Unless you have TA skills and are good at reading price action?

Seanhunter - nice position there - fully cashed out just prior to the release of the PEA - each to their own I suppose.

Sands - perhaps it is memory of the short sharp shrift I was given - left a bad taste...

Lol Lobon - still a bell end then?

Yes, at least you remember one part correctly - I got short sharp shrift for selling at 36p - more fool me right?! Where's that other t0 sser from the trio so we can make it a set?

It's covered in the RNS.

Zoros, it's all there in the RNS - a reread may be in order.

Ref you musing that a potential takeover might be delayed by this, rest assured that BHP's ( and other potential suitors such as AAL, RIO etc) pockets are deep. The odd £100mil here or there isn't going to be a problem. If they decide to make a move, do you really think they're going to hang around for 5 months twiddling their thumbs while Newcrest's August end of standstill approaches? Not a chance.

The plot thickens.

Well said Pinot. CGP is smallfry 15% - they can take it or leave it.

Bring on the PEA, Alpala MRE3? or a shed load of assays, district geo findings, drilling permits...takeover!

Bzup has got about 2 pence invested here, so it's easy for him to throw around casual comments. When there is serious money on the table, it forces you to think more deeply.

Addicknt - I don't really understand how the 20% premium is a bit "cheeky"? If it goes ahead, Cornerstone shareholders get ALL of the exposure they had before + 20% extra free shares + exposure to the rest of the district.

i.e. they get 20% for free with any future profit on share price appreciation undiminished or even enhanced. It surely is a no-brainer.

Shipright - "At 20% premium I don't think cgp will bite."

Why wouldn't they? They are getting money for old rope - 20% for free, maintaining their full exposure to Cascabel, opening up their exposure to the rest of the district and dropping the pro-rata payment obligations. Seems like a no-brainer for them.

I very much doubt that NM has just thrown this into the market without having had in-depth conversations with CGP first.

Plus it's OTC re-incarnated if I remember correctly - with management's track record of delivering shareholder value (not) I'd be wary.

Think they'll need a cash call soon based on burn rate...and they're a bit of a different beast from SOLG - open pit oxidised deposit and much smaller isn't it?

Bizarre. The number that they are now quoted as having is the amount they had after they bought the 100 million on the 17th of October 2018 - it is that amount EXACTLY, to a share. The number that is apparently missing is exactly the number bought on Nov 8th 2018 as part of BHP's top-up rights at 38ish pence.

The fact that the numbers are identical suggests that there might have been a publication error by SOLG - worth clarifying. Can't think of any reason why BHP would sell that exact number of shares and a poxy amount to boot.

Visitor - jam tomorrow. Yes that's right, you steer clear - best give a call to BHP and Newcrest too and let them know that this Tier 1 Cu-Au porphyry just isn't worth bothering about. Self-evidently they are burning cash - they are an explorer! I'm happy that they are creating a great deal more value than it is costing however, and they can do as many raises as they need that are at 30% premium to the market - suits me fine. That baby is going to get taken over and there's likely to be a bidding war.

Back to HUM - maybe you're right about the AISC there - more bad news for HUM! That explo expenditure and any additional CAPEX just to keep production going beyond year 7 are going to be additional to the AISC. 1 year down and 6 to go.

Or alternatively, and more simply, the buyers came back in at 35p with the trading range still in tact.

Genius Bottomzup!