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Up 3.28% 32 cents buyers still there
Thanks bubble, but I only give one about the day we open 250% up once the Chinese make their move, then we are under starters orders for 'The Battle for Cascabel'. When will this be? Well, a fair few posters I hold in high regard say the price will drift up to late 20 -> 30p once the merger is complete and ARB is taken out of the equasion. On the other hand, WI replied to a tweet of mine to say the SP won't recover before we reach step 3, a bid of some sorts. Either way, we won't be at these levels for much longer and I've added another 250k this week after closing other positions to release funds. Have a great weekend all, the trash talk is nearly over and we're on the way to the ring!
Well done him...right on the money...
However I still think there are enough people 'in the know' to see some improvement after the merger is legally complete and before the first bid...
However, it could come straightaway after and anyone who has Hope's of a bid, or shorters, are playing a brave game if they are waiting...
As DBW has said, we could 'wake up' one day to a bid and I'm much happier being fully loaded, like you, than waiting and watching...
ATB
Highflyigman,well done on adding further ,indeed our time is coming very soon imho ,enjoy your weekend ,how refreshing to see a well balanced honest post all about solgold
For those who still think talking of a bidding war is ramping, ask yourself this simple question...
Why would the biggest copper company in China...essentially owned by the Chinese government, who have just done a groundbreaking deal with Ecuador...buy a measly 6% stake in a company whose most advanced asset wint be producing ore before 2029...?
Their investment cost $36 million, which is peanuts for them...
It can ONLY be a precursor to a bid(s)...and remember they know the company because they already had a toehold through Valuestone...
Simples...
Morning Red
Exactly right ….. the beauty is there’s no way Jiangxi will settle for 6% and there’s no way BHP will stand by and let them take it from under their noses. Would love to see a 3rd serious player enter the fray but maybe I’m being greedy.
We need to get this merger settled but that’s not far away ….. just a waiting game my friend
Oh dear Redknight they own 6% because Solgold invited them in.
I believe this has to do with the Strategic review.
A JV making more sense every day to bring Alpala to production.
.. inviting the Chinese in is no different (at one level) to inviting Newcrest in. Diverse book and all that. And remember BHP only got in by buying the shares certain characters held who had switched to Cornerstone. However, I really don’t see the JV narrative favoured over the full on takeover takeover battle I sense brewing with these deep pocketed characters. And when it comes to a gamble, that final bid before the hammer comes down, then the Chinese likely have more room for bidding on Solgold speculatively with its pipeline of unfulfilled, indeterminate potential than BHP ever have. Bring it on I say. Until then, I’m adding as I can.
Hyfligman - your 23:05 post last night exhibits all the warning signs I'm talking about on this bulletin board.
I'm very sorry to dampen the mood of you and the 13 others that recommended your post but there's no way on God's green earth that the Chinese are going to offer us a 250% premium.
It just isn't a possibility.
If they are interested in the company then the most we can expect is 30-40% on the last closing price the day before. It will then be on other parties to have their say.
We'll therefore need at least two interested bidders and they'll both/all need to make multiple bids. It's a lot to expect.
Please don't burn yourselves with unrealistic expectations.
It is ramping Redknight.
There's nothing to say a ramp can't play out. But calling an event that hasn't happened yet and mixing it with subtle encouragements to buy stock is ramping.
That's how it is. May as well embrace it.
So when should we expect Jiangxi's opening proposal then DBW?
How does end of February sound?
I think we have to consider the potential that Jiangxi and BHP will be happy with their strategic stakes. Let's not forget that we've got a fairly unsophisticated PFS on Alpala that has some potential for adjustment and optimisation, but we've postponed the work.
What sort of message does that send?
Why aren't we completing a PFS that paints our flagship project in an even better light whilst we have a strategic review ongoing?
These are the questions that need answering.
Evening Bozi according to SP Angel we have gone straight to the BFS study. Link below.
https://www.proactiveinvestors.com/companies/news/1002961/today-s-market-view-azure-minerals-blencowe-resources-cornish-metals-and-more-1002961.html
Hi Bozi
You always ask reasonable questions in a reasonable way. The answer is that I don’t honestly know. No one does but I just don’t believe they’re along for the ride…. We have a huge asset that we are clearly incapable of taking to its maximum potential.
Someone will and we’ll all do ok .
We don’t agree on everything but you’ve always remained civil and hopefully the end game will benefit us all.
Not cascabel ,quote one other the other ..
Correct bubble the quote is too get another before Alpala.
My bet is Tandy as it's part of Cascabel and we have 50 million earmarked for Cascabel.
However the Banking feasibility study is for Alpala.
Quady ,might get some news on Tandy soon then ,before end of month
Hey Bozi, thanks for reading my post, replying a bit late after watching United fianlly goe toe to toe with City and come out on top. Great day.
Whilst I take your point on the opening price of any bid and its potential to be 2.5 x the current sp, 44p would still leave most on here unimpressed. What does however remain true for all of us I'm sure, is our collective opinion that 17.68p drastically undervalues our asset and the true value is multiples of the current sp. I respect your viewpoint, but given everything I have researched and been briefed on solg over the last few years, like Rk, I'd rather have a fully committed position right now. Time will tell, however I'm happy with my current risk profile.
Now, time to watch the game all again on MOTD, best pour the wife another glass of wine!
Enjoy.
Pad , morning the assets the Chinese will be after far outweigh the price they might offer a bargain to them imho
Bozi.. 2 reasons why we're not completeing a PFS/DFS right now...
1 Very high inflation which will fall fast this year and is not yet outweighed by cpper prices
2 Theres a bidding war coming...nobody would be foolish en ough to bid 22/25p as an openibg bid...
May as well embrace it...
Ahhh Redknight, that bidding war chestnut again.
Lets hope it proves the answer to all our questions.