Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
people are forgetting the political aspect here. A number of Ecuadorean employees will be entitled to some of these options. I appreciate they won't get the bulk of them but the fact that locals will be rewarded will play very well politically in Ecuador
$104 mill in bank. BHP still to fill board seat. Significant newsflow by year end, RE and regional! Ecuador wants more mining. Moving towards feasibility, click ticking on CGP. PEA beginning of next year. Emerging copper gold major- moving board skills from explorer to producer. Drilling will continue at Cascabel next year. Go for gold to fund programme. Half the capex of a Chilean project. Target doubling of resource. Block cave planned. Core has become more cohesive. Regional, we are not land banking, want to progress 10 priority targets. Each has their own technical team. Waiting for final permits. Results next year.
anything about getting shot of these?
BHP Billiton Holdings Limited (BHP) to subscribe for 100 million shares at 45p to raise £45m (USD $59.2 million).
Ø BHP to have anti-dilution rights for a period of two years in respect of all capital issues to maintain a 10% interest in SolGold provided BHP does not drop below a 10% shareholding level in SolGold.
Ø BHP to have a right to appoint a Director to the SolGold Board provided BHP does not drop below a 10% shareholding level in SolGold.
Ø BHP will, for a period of two years, support the recommendations of the Board of Directors in respect of SolGold Board composition.
Ø BHP will, for a period of two years, support the recommendations of the SolGold Board in respect of any shareholder approvals required in connection with any change of control transaction involving the Cascabel Project or SolGold, provided it is supported by an Independent Expert appointed by the SolGold Board and 60% of SolGold shareholders (disregarding BHP's shares) accept or approve the transaction.
Ø BHP agrees to a standstill in respect of SolGold under certain circumstances for a period of two years and, subject to certain exceptions, cannot acquire further shares in SolGold above a threshold of 246,634,271 shares, without SolGold consent.
Ø BHP agrees, for a period of two years (subject to certain exemptions), not to discuss any change of control transaction of SolGold with third parties without SolGold consent.
Ø BHP agrees, for a period of two years, to provide SolGold, in certain circumstances with a right of first offer in the event that BHP wishes to dispose of its acquired shares.
They would make the agreement because they want to work with Solg. They know that NM has this stitched up and that it is very well managed and that hostile won’t get them what they want. Working with Solg will. Just my opinion. You could read the RNS which contains the conditions