Member Info for Strider4

At this stage, why would another major need to come in for "a piece of the pie"? No, there will be no messing around now. If another major comes in it will be for the whole "lot" and it will be carnage.

Hannam know diddly squat.

In his September presentation NM stated "confidently targetting" - I'll go with that. Yes there is wiggle room but it's a pretty clear statement. Why cuttoff in October if you're not confident that you will hit what you've been saying in public.

Jerry - why has BHP moved so fast then (and aggressively - 30% premium etc etc)? They were certainly in a hurry to get a piece of the pie. It's rare to see that kind of interest and no follow up, either from them or from another shark.

MRE2 being hurried out, cut-off late October, with NM saying that should be enough to double it. That will put a line in the sand for sale prices. Add the PEA and you can up it again. Then let's get MRE3 out next year and in the meantime get those drills hammering into the NW side to hopefully show Alpala's twin sister has been quietly waiting all this time.

Yes agree I don't see how it would be possible to split up Cascabel given that there could be multiple inter-connected deposits. Given that we could quite possibly see another doubling of the resource next year, do you really want to sell a Porsche for the price of a Fiesta?

The most telling part of that news article is:

"There are not many copper assets currently available on the market and big mining companies, restored to health following the 2015-16 crash, are still seeking to rationalise their portfolios and only look for best quality mines.

The world's biggest listed miner BHP has managed to buy a stake in SolGold's promising copper-gold discovery in Ecuador, having earlier agreed to sell the Cerro Colorado mine in Chile to Australian private equity fund EMR Capital"

BHP is only looking for the "best quality mines". So, what does it do? It sells off it's operating Cerro Colorado mine and takes an aggressive stake in SOLG...next move has to only be a matter of time now. As Quabashi mentioned earlier, neither Newcrest nor BHP are ultimately interested in a 10% stake. They'll either take it all or not at all. BHP turning up at the party will certainly introduce a sense of urgency in the Newcrest boardroom.

"He gets £900,000 for every penny the price moves up." Good point.

My issue with an outright sale of the whole company, is that it would sell us short on what looks to be a glorious story.

Yes, sell Alpala or even perhaps Cascabel, but surely keep the remaining concessions. There may be another Alapala or two in there. A handsome special dividend to keep shareholders happy and then blitz the lot with cash coming out of their ears.

Qalibashi - some excellent points there, especially the bit about Newcrest and BHP not caring about 10 an 14%. Hadn't thought of that, but it rings true. They are not interested in small fry. It'll be all or nothing here.

Given the action today so far, I would say there is a strong likelyhood that this is going to finish 38p plus.

Schlem - I'm sure many on here could tell a similar tale. I know I could. I've sold too early on a number of shares, that if I had held would have made me many tens of thousands more.

Regret, fear, greed and elation are part of the game.

The question is, do you really want to see Alpala sold before MRE3, before we've got a better idea of just what a whopper Alpala actually is (think Golpu progression)? Not sure I do.

As vipulk reminded earlier, one of the best things about the recent deal, apart from the 30% premium paid, is the fact that NM called the shots on it - BHP agreed to his terms (no hostile takeover for 2 years).

How many explorers can have the luxury of negotiating things like that with BHP? Most of the ones, even with very prospective projects, would say yes sir, yes sir, three bags full sir to BHP - no questions asked.

Good luck Jerry - think you will have missed the boat. Famous last words of course...

Shipright - LOL, there is not a chance that Schlem is in the pay of BHP! Unless they deliberately hired someone to look amateur (no offense Schle) to put people off the scent!

Think BHP have better things to do than conjure up a short - this is all very small fry to them. They could shell out $2 billion ++ for Cascabel and not even blink.

Ah, sorry for the repetition - didn't realise the first post had gone through.

I have a feeling it will close in the range 38-38.5p, so not quite up on the day (happy to be wrong to the upside of course!). If so that would be technically strong.

Not sure about that (would be nice of course), but I think there is a good chance it will close at round 38p or so. That would be very positive, technically speaking.

Good stuff Schlem - like it: "pair of stained underpants on my head and two pencils up each nostril"

Couldn't resist. BHP in at 45p, SOLG with $100m + in the bank.
MRE2 "confidently expected" (ref NM's Septemebr presentation) to double, and that's excluding some nice looking subsequent holes (69 in particular).

Top mineral consultant say that the recent drill results were "encouraging". Jeez, what does it take to get them excited?! Hole 67 is one of the best cores in HISTORY!