Member Info for theiceberg

£100k buy after hours at 23p.

Some decent volumes in the auction with 250k ut with another 250k bid at 22.8 and a final 250k at 23p on the ask. Just like before when all parties are finally done it will rise rapidly, but volume is very decent.

We still had the 300-400k at 23p in the 16.30 auction to go through, but with buying and also the 200k on the bid at 22.5 it looks like the seller is trying to be teased out. It will happen soon then bang..

Also fab or in the increased recovery percentages which are up to 20-25% for gold as per the rns in oct..add in increased process recovery due to mine design etc. NPV will be considerably higher with the PFS..

Still 300k to shift at 23p accord to the 16.30 auction, not much all things considered.

50/50 chance of that cork popping before 16.30 looking at the book, it's looking mighty strong 23.50 maybe on the ask at close.

The hostile bid from Solg massively undervalues our 15% of ENSA.

Answer : there was very little mention of cgps own independent valuation. However an independent valuation was produced for cgp in April that put a value of C$70m on it about £30m. That valuation also had the much quoted $0.05 per pound which is so selectively picked even Putin would be proud. They fail to mention all of the discounts that are then applied.
IF This goes pair shaped for cgp then there must be a very good chance of their own shareholders taking them to court.

They to pay pro rata cap ex build costs.i.e 200-300m and at time of expense i.e starting as soon as build starts.

I was doing a bit of reading on this earlier.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3513932
Is a good bit of case law on it.
First solg isn't an insider. It's frankly silly to suggest it . It has no board representative and less than 10%.
Secondly the PfS is being produced independently it will be silly to draw any recommendations and unlawful.
The more you dig into the cgp arguments the more you realise how rubbish they are.

I agree quad if this was pretext to remove the bid the legal action in response would be more than just a pain for BHP and newcrest...there are so many reasons why it s just bluff from Irwin and sangha et al who are just really miffed with the price and the bluff of massive cornerstone dilution 're poison pill has been blown.

Tbtt. Two weak positions don't equal a strong position you can't just add them together. They are two very different companies with very different plays. There is no indication that they are together in any way. Newcrest have a small jv with CGP which they are doing sweet FA on. I would contest that if newcrest were serious about CGP then they would have offered a placing to them so they didn't have to sell the solg shares..
Even a combined indirect interest in cascabel gives a minority percentage with no control and no rights..
CGP might be a route to solg and I think it is, but is still requires paying up so would be a messy convoluted route, that would damage their reputation and importantly their reputation in ecuador. As well as partnering with David lenigas type egos .
If BHP really want it they will just pay up like most of the big players rather that play silly games that tend to backfire and cause ceos to get the chop...

Egm gm is generally governed by the articles of association these can add all kinds of weird and wonderful clauses...
If I were solg I would actually call their bluff and organise one for month. Give them a kicking.

Major news to come from solg. The timing from CGP is bizarre if they waited until Oct it might have passed but without BHP it wont. Black Rock do not vote for these things period , if they did nobody would ever want them on their register..BHP and new crest also normally stay clear unless they are desperate..for the same reasons.. Before any disagrees with that find me examples of where any of these companies do that!

My guess is that Nick is about to do a deal which gives % of cascabel away and or puts a safe 20% on the share register. So CGP have been forced to get their 2 mins of fame before that time..

I was wrong earlier but this 100% correct.
http://www.solgold.com.au/investors-center/
Bottom of page you have country of incorporation which is the uk..

Solg isn't an Australian company it's govern under .uk law.

"Re: CGPs demand for the Board to be sacked he implied that the Government would take an interest in any attempts to destabilise Solgold. NM implied that this may be 'vengeance'."
That was my view as well. Ecuador will not be pleased with anything that delays cascabel development and or regional exploration.newcrest and CGP haven't added a 10th that solg have added to ecuador.

Nice to hear him say FFS.

Quady.
Quite right. Sorry. That’s an easy one to admit I got wrong!

It's at 2pm

Folks need to be careful linking to this, it's NOT approved for distribution in the UK as it's doesn't meet up law as per the last page . It's doesn't even meet tsx rules .
It makes no mention that BHP cannot vote for it at present and somebody needs control them that 7% isn't a significant holding.
If anything it shows how noddy CGP are..