Member Info for thetriplestar

A1.2m per month?

Anyone able to work out rough estimates based on the daily ton amount * %?

This RNS from ECR Minerals PLC is very positive and signals strong progress across the company's dual strategy of securing near-term production while advancing large, high-potential exploration projects.

The key takeaway is that the maiden drilling at the Lolworth Project has confirmed a significant gold-silver system, adding a new, valuable metal (silver) to the project's potential.

Assuming we get bought out - what is the next SOLG equivalent to get in to with our gains here?

Thanks - thats a rapid uptake in offer price there -

I think Monday could open higher if people thing this will happen - or something similar. So good to be a shareholder in SOLG this is the ultimate outcome - I kinda had a feeling it would eventually be bought out - a major strategic asset

If it drops to 26p then it would be guaranteed but I guess anything between 26-29p is guaranteed to make a profit - big assumption here but was wondering anyone else's thoughts

Sorry if this has been covered in earlier posts - but was wondering that buying on Monday is nearly guaranteed to be making money over the next month or so... what are your thoughts on this has anyone gone through this before with another large size project with big fish bid offered?

Well at least the 26p is the bottom line for this stock now - loads of upside potential.

apparently yes every bid that comes in we will get RNS - so could get very exciting

Yes but will every bid be RNS'd as they come in over the next few weeks or we wait for results for all bidding parties to reveal highest bid on 26 December?

If there was a bidding war coming up will we be informed of every bid live or do we need to wait until late December to find out the closing bid?

I thought we would get news in November - are we expecting a Monday RNS?

SolGold was legally obliged to make this announcement under Rule 2.4 of the Takeover Code because JCC's approach had created a situation of market speculation, or the board had received a "firm intention" from JCC.

By publishing the RNS, SolGold achieved two key objectives:

Market Transparency: It ensured that all shareholders and the wider market were made aware of the formal 26p proposal and the board’s unanimous rejection of it.

Triggering the Deadline (Rule 2.6): Crucially, the announcement started the clock for JCC. JCC is now legally required, under Rule 2.6(a) of the Code, to either:

Announce a firm intention to make an offer (likely a much higher one).

Announce that it does not intend to make an offer (a "walk away" statement).

This deadline is 5:00 pm on December 26, 2025.

In essence, SolGold used the regulatory framework to force JCC's hand and accelerate the process, betting that JCC, as a major shareholder, does not want to walk away from its investment entirely.

What "Without Consent" Means

In the context of a public takeover:

Unilateral Disclosure (The Rule): When a takeover approach or offer proposal is made to a public company (SolGold), the Code requires that certain information be disclosed to the market to ensure all shareholders are treated equally. This is typically done through a Regulatory News Service (RNS) announcement.

Lack of Agreement: The phrase means that SolGold's board published the announcement and its content (i.e., that a proposal was received and rejected, and that the bid deadline has been triggered) without the approval or sign-off of Jiangxi Copper Company (JCC).

Conflict/Hostility: It is the standard regulatory wording used when a target company is forced by the rules of the Code to disclose a proposal it has rejected, and the bidder is unwilling to jointly publish a statement. It is a subtle signal that the approach is currently unwelcome or hostile.

The rejection of the 26 pence per share offer from Jiangxi Copper Company (JCC) creates a dynamic situation with a few highly probable outcomes, all revolving around the massive intrinsic value of the Cascabel project.

Here is what is likely to happen next:

1. JCC Must Announce a Firm Offer or Walk Away (The Deadline)

The most immediate action is governed by UK takeover rules:

Deadline: JCC has until December 26 to either announce a firm, higher offer for SolGold or state that it will not be making an offer.

Likely Outcome: Given JCC's existing major stake in SolGold and the consensus that 26p was a low-ball bid, it is widely anticipated that JCC will return with a significantly increased offer to secure the asset. An offer is expected to be closer to the analyst price targets (see below).

2. A Competitive Bidding War May Emerge

JCC's initial low bid has effectively put SolGold "in play," which could draw out other major miners who have long been interested in Cascabel:

The Valuation Gap: The rejected 26p offer is far below the average 12-month analyst price targets, which generally range from 40.4 pence to 59.85 pence per share.

The Project's NPV: The underlying value of the Cascabel Project is enormous, with an After-Tax Net Present Value (NPV) estimated at US$3.22 billion in the Pre-Feasibility Study. This disparity makes a competitive bid from other parties, such as current major shareholders BHP or Newcrest Mining (now owned by Newmont), highly plausible.

3. SolGold's Management Will Continue to Focus on Self-Development

SolGold's board is focused on demonstrating the project's value through its own operational progress, thereby justifying a much higher valuation.

Staged Development: The company's recent re-rating is based on its strategy for a staged development of the Cascabel Project, including updated resource definitions.

Tandayama-America Starter Pit: SolGold is specifically advancing a potential near-surface starter-pit opportunity at the Tandayama-America deposit to support the early development sequence of Cascabel. Management will use this progress to argue that the project is worth far more than any current offer.

Key Individuals: The board, including Chairman Paul Smith and CEO Slobodan (Dan) Vujcic, has the responsibility to ensure the final sale price (or value achieved through self-development) reflects the world-class nature of the asset.

In short, the next few weeks are expected to be focused on pressure on JCC to raise its price and the potential emergence of a counter-bidder before the December 26 deadline.

The offer was far below the consensus valuation for SolGold's flagship asset, the Cascabel copper-gold project in Ecuador, one of the world's largest known undeveloped copper-gold porphyry deposits.

Project Net Present Value (NPV): The Pre-Feasibility Study (PFS) for Cascabel, released in February 2024, showed a highly robust After-Tax Net Present Value (NPV) of US$3.2 billion (at an 8% discount rate and conservative metal price assumptions). The 26p bid failed to capture a reasonable portion of this established value.

Analyst Price Targets: Analyst 12-month price targets for SolGold are consistently much higher, generally averaging around 46p to 49p per share, with low-end targets still in the 39p to 40p range. The 26p offer was a substantial discount to these professional valuations.

Impact of Chris Gibbs' Appointment

De-risking and Execution Confidence: The core benefit of this appointment is the significant reduction in perceived execution risk. Chris Gibbs' 25+ years of experience in leading major mining projects (like Magino Gold Project) directly addresses the market's need for confidence in a small company's ability to transition from exploration to actual gold production, especially at the proposed Raglan and Blue Mountain projects.

Strategic Minerals Focus: His dual role as a director of the Critical Minerals Institute and involvement with the Halleck Creek rare earth project aligns ECR with the broader strategic minerals trend, adding a potential layer of future value beyond just gold.

Shareholder Alignment: Receiving half his pay in shares demonstrates a strong commitment and direct alignment with shareholder value creation, which is typically viewed very positively by investors.

Reinforcing the Strategy: The Chairman's comments explicitly state the strategy is "gold production," reinforcing the shift towards a revenue-generating business model, which can drive a significant re-rating of the stock.

Yeah I dont think they would release it if they knew bad news incoming - my bet is great news is coming...

"excellent scope for near-term positive news flow"

Hopefully this coming week we get some good news ...

Those machines are crunching the ground daily I am sure - the last update was very positive. I think the stakes are high we have new members on board now who will want to make it a real success - does anyone know how much skin the game the ECR team members have in £ terms?