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Morning all. Orthern, I have added 50% more into my solg share holding in the last month. I like the way this is finally panning out. Its been a long time coming but IMO its close .
GLA
DK
Good morning Darren
Il be topping up this week and that’s it then
Nice to see the company expressing valuations on our assets and as a whole 78 p to a £1 plus
Most of my shares are between 24-28 p, so come on with the share holder value
I am as excited as anyone of you, and I have been long invested in SOLG, having also traded up and down aince 2014 making xonsiderable profit.
While I alao share the view that we might finally be on the verge of the long waited rerating, let's also keep our feet firmly on the ground.
DC saying we are worth north of 78p based on the resource means nothing, we have been discussing this very topic a million times and in fact I have 82.5p as a theoratical value at the feasibility stage in my model, which I was discussing last week. But nothing has changed, if there is no actual corporate event there ia no rerating, and 7ntil then the price will reflect a company short on cash.
GLA
Not liking that big £64.8k sell just after the bell …
Somebody knows something?
isn't this a UT transaction?
Always manage to hook one!!!
ONWARDS AND UPWARDS
TheItalian, no corporate event = collapse...it's that simple.
The Review announcement and yesterday's presentation indicates to me that we are further down the track than some may think. I suspect DC would not have gone public with all this unless good progress has already been made...why take the risk of failure and humiliation?
As DC said, the Review and whatever flows from it, is separate from the CGP deal. What this implies to me is that the deal is part of the marketing process i.e we are able to say to any buyer; "Yeah, well look (copyright DC), we're in the process of tidying up the ownership and can now offer you complete control"...this transforms our attractiveness.
For all the reasons people suggested yesterday, this is a sale process and I'm amazed the market hasn't understood that.
If you're not already on the train people need to buy their tickets sharpish ! I can hear the quacking getting louder by the day,
ONWARDS AND UPWARDS !!!
DC said quite a few interesting things yesterday and I noted the comment that only 20% of shares are held by private investors. I think the consensus on here was that it's much higher. Of course, this means there are far more institutions holding below the notification level than we suspected and they've not been trading.
My guess is that this percentage of institutions is far higher than you'd normally find in similar companies and must be testament to the fact the endless roadshows have been far more successful than we - or certainly me, thought.
So all the volatility is caused by a few Herberts like us - that must be frustrating for the management team.
Yes addicknt I picked up on that.
I seem to remember when the PI's voted on Nick Mather we were just over 40%
So if yesterday's figure is correct then the book is even more diverse than I thought.
So hostile bid all but impossible.
Agreed bid possible but not cheap, otherwise we proceed towards production.
Lastly and I believe this does have some legs.
ENSA becomes an entity within itself and either we take it to production, someone JV's with us or now that we are in the process of consolidating it, we could possibly sell.
However that is dependent on if anyone out there will pay our price.
Agree Add. A couple of weeks ago someone on another group shared the top 20 holdings list from Bloomberg. It showed the position changes. Virtually all of the institutional holders were unchanged. The ones showing large changes were all the retail share dealing custodians like Interactive Investor, Halifax, Barclays, Hargreaves Lansdown etc. Interactive was down almost 2.5m.
What this suggested to me at the time was exactly what you just said. The drop in the SP has largely been caused by PIs panicking and selling out. Institutions are holding.
One last point. Some of the let's flog it cheap brigade on here suggested taking Alpala to production was now off the table.
However we have streamers looking over the site, and the only reason they would be there is if we are going to production.
My thinking is thus:
When we did the Franco Nevada streaming deal it was ring fenced for Cascabel only.
Any streaming deal again will be for Cascabel only.
Why would we require funds for Cascabel only.
It would be to take it to production.
2.5 million is nothing...
And please note...
MAXIT ARE M&A EXPERTS
They(Bob Sangha) own 11% of CGP
Maxit have been appointed to BOTH CGP & SOLG
There is a sale process underway.
Remember, Nick at Noosa said SOLG was developed to be sold and
Brooke Macdonald said CGP would be sold before end 2022 months ago...
It's only a matter of time but it better happen quick cos theres a global market fall coming...
If we assume post CGP deal that there's about 45% in CGP/Mather hands with tensor and a few others.Then you have BHP and NCM around 11% post dilution. Blackrock and forges near 9% combined.
That's 65%. Add in 20% retail investors and that leaves just 15% II's or HNWI'sor HF or FM's etc.
So although 20% sounds like a smaller number it's actually more powerful than it sounds in context of all shareholders.
Numbers are approx so giver take 5%here or there.
Good to know Darryl and team understand or have been forensically inspecting their shareholder numbers lol! Anyone might guess they reweighing up their chances at the upcoming AGM lol! I think they'll be desperate to get the CGP deal concluded before the SOLG AGM and bag that 20% voting slice. So much better than the 6.7%.
Q, you're making a mighty big assumption that BHP/NCM/CGP will agree to another Franco type deal. The way I see it is that there's absolutely zero chance of it happening - mainly because the CGP boys would have made their intentions perfectly clear.
Sorry about predictive text... so annoying! Tenstar and Norges.
2.5 million x say £1.50 pr share sale nice return for selling solgold Red
Morning addicknt, then if you're correct why are the streaming chaps looking over Cascabel.
You always needs a plan B, even more so in this market.
Q, that's a fair question and perhaps, as Tesla suggests, this is now Plan B. But I assume you accept that any such plan would run into serious objections?
Quady, because we have been engaged in a long game of cat and mouse with our potential buyers. This has been clear as day for a long time for the majority of us on here, yet even with events of the last few weeks you somehow still can't see it.
Our former CEO, Nick Mather, literally said that the plan for SOLG was to sell it to a major. This exposes all of his "we're going to build a mine and turn SOLG into a producer" shpiel whilst he was CEO to be total nonsense. It was brinkmanship.
Posting tweets and LinkedIn messages when Boliden came on site to visit are signs to both us in the market, and majors who want to buy us, that we are willing to sell-off more of the profits from Alpala to fund the business, so the longer you wait, the less attractive the asset you want becomes.
The Cornerstone deal is the clearest sign yet that we have absolutely no intention to take Alpala to production. The outcome of the strategic review will have the company publicly state that to maximize shareholder value it will either sell the business in its entirety, or put Cascabel up for sale. There is no way Cornerstone would have agreed to the deal otherwise - they want out and Irwin has stated that this is a step closer to that.
Redknight's post above (Maxit and Sangha) is further evidence that we are heading for a sale.
You also appear to not understand the word 'diverse', as you've claimed that through REMOVING CGP from the register (and them becoming SOLG holders) that the book has somehow become MORE diverse. This is just nonsense.
Good post SharketMare.
A common sense post given the information we have been given.
Why wouldn't you get the people you had the most trouble with in the past
on board with you ?
One less problem going forward.
Okay SharketMare lets cover your points.
NM never said the plan was to sell it to a major.
He was speaking on behalf of DGR and said eventually DGR'S holding in Solgold would be sold.
He did not say to a major, he didn't specify anyone, he did not say when.
I am not into conspiracy theories. When Boliden were on site, they were not there to force a bid, they were there in their own right. So what you say makes no sense.
Next: the CGP deal. This was always the intention and now it's close to being achieved
Owning 100% of ENSA makes this easier to sell or finance.
The sell them cheap brigade always said Solgold could not get 100% control of ENSA and that BHP would acquire CGP.
This has not happened.
We are about to get an update on financing, but what financing. This will be interesting.
Trust me I understand what the term diverse means.
We have become more diverse as BHP and NCM will be diluted. 20% of market capitalisation in the hands of PI's.
A huge drop.
More companies own Solgold and smaller holdings.
Lets remember that CGP have individual share holders and so they get the shares not CGP.
So we are much more diverse.
Addicknt like you I listened closely to the webinar yesterday looking for the changes.
I heard that we proceed as planned.
We will have funding shorted shortly.
CGP don't have to pony up a wedge of cash.
They do seem happy, but could they be happy because they and their shareholders will be invested in a large Copper Gold project with no outlay. That wasn't the situation before.
I believe we still have more to hear and so will see what transpires.