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We're all delighted you and your allies are now directing the strategy of our company. We've suffered years of guff from our board, who had lost sight of what was really achievable and what wasn't.
One request: Can you please drop any reference to 'partners'?
We want a clean exit from Cascabel and, quite frankly, if you want to sell the lot you'll have my vote.
One final request: Christmas is just around the corner and it'd be lovely if you can get the ball rolling before then.
Yours sincerely,
Addicknt ...One very frustrated shareholder.
LM, assuming we end up with a jv, what's your target divi?
Huge day tomorrow methinks.
Gla
Nah this is going down to 5p after today and the realisation that we are not going to production. Well I for one will be selling my entire 500 share holding on the bell ;))
I really thought this would get to at least 55p but now we’ll be lucky to see 5p
DOWNWARDS AND BACKWARDS from here on in
Expect a rise tomorrow...
Thx novice
Adding all the dots together, it's clear the game BHP have been playing.
Remember the open letter Twiggy penned last year, basically telling BHP to stop interfering in solg business and either pay up or shut up.
We now have the very unusual situation of them commenting on our latest deal after making lots of noise about the Franco one.
Obvious now that this is a company that wants our assets but clearly is playing dirty and does not what to pay for them.
Good job we have Bod and Warren on board. I think we should openly market the asset to other majors.
Lunchmoney,
I agree but what would happen if SOLG did announce a JV involving Mitsui? Usual clauses etc like needs approval at EGM blah blah blah. BHP have two choices... offer a better deal on better terms, or make a bid etc or walk away.
Like the royalty deals, there is always a clause in there that allows a future buyer like BHP to undo some of the commitments for a fee.
As logic goes... if we are all convinced that CGP/SOLG are likely to seek a sale via auction process or other means for Cascabel, then surely part of that game is to pull, push and tug BHP's chain. Ultimately, the game of cat and mouse is over. All SOLG have to do is draw BHP out and if BHP are not interested, then all good, other super majors will be.
It's pretty obvious now that SOLG have been 'waiting' for BHP to make a move now for 2 years+.
Now they have to force them to. And in that process we may well be looking at someone like Wyloo or Fortescue to go ding dong with BHP in the auction process. I bet Twiggy is gagging for that one!
Speak for yourself, Addicknt.
I certainly won't pop the corks for Mr Sangha's presence. He failed for years trying to flog CGP (despite supposedly being an uber credible mining banker) and now he wants to do the same with my company.
Delirium returning to the BB it would seem. Not good.
Lunchmoney,
SOLG are not going to end up with 10% or 20% as a minority partner and be skint. 80% of ENSA is going to be worth $2bln+ imho. Probably more. So let's say they end up with 20% but have $2bln in bank. Hand back $1bln to shareholders and retain the $1bln for development funding.
Anyway - nonsense scenario imho as CGP boys swapped their ENSA stake for SOLG shares and that means they now have their eggs all in one basket. That's risky.
One scenario post merger is that post the strategic review we find out the CGP boys have sold out their shares to Mitsui or another (with consent of Mather). They get their pay day and Misui gets a 20% stake in SOLG.
Can't see that myself as think Mitsui would only want exposure to ENSA like Franco and recently osisko.
Only a few ways the CGP can get their cash pay day and that's via selling SOLG shares or by getting a sizeable cash payment or divi after selling ENSA asset.
I don't think the CGP boys plan on being SOLG shareholders for very long at all!
CGP closed at 4.17
Up 8.88% - lucky number for someone ;-)
Morning Lunchmoney, remember, open pit first!
Cascabel has slowed to let his little brother catch him up, and eventually win the race.............
................................to production.
Open pit will provide a nice stream of much needed cash!
As I said last week, CGP shareholders have several bites of the cherry here. They can go early or wait for production with their new Solg shares. Who will be our J/V partner be?
Solgold are happy, CGP are happy and the government are also happy!
That's my take on things, could be totally wrong .............let's wait and see.
Fishing time.
In the article it clearly says we are going to production with a JV.
Many on here will just gloss over that as it doesn't fit with their world view.
This is the phrase in the article which wouldn't let me paste, but I can paste from DBW
"There is no more bluffing that we are going to build Cascabel [Mather previously told MJ that he aims for SolGold to become bigger than BHP]. We are going to maximise shareholder value by bringing in an appropriate partner to do it. We have wasted five years. Since 2017, our share count has increased 50% and our share price has fallen 50%," said Sangha.
It clearly states that we aim to build Alpala as a JV.
No selling it or the company.
This couldn't be any clearer.
Indeed, Q, which is why I asked him to drop the idea. Mind you, if we sell 85/90%, which is what will happen, and we end up with a decent divi, I'll be happy. Obviously, we'll have to find our share of the development costs, but GGP did it, so we may be able to as well.
However, what the article DOESN'T say is that we will raise all the money ourselves...with minimal dilution, and take this to production as 100% owners. For the life of me I can't recall who's been saying that for the past millennia.
Bozi, you are quite correct - I cannot speak for everyone. Although I think it's fair to say the majority on here appear to share the same view. And yes, we are a little delirious...a bit like a prisoner who goes over the top on the day of his release.
Morning addicknt, well I for one have always said that production is the most likely outcome.....I've also stated "with a J/V partner. Not once have I said that they will do it single handed my.
Good luck.
Yes addicknt I have been saying that because for ages that has been the company position.
The article is clear it doesn't say we are going to sell Cascabel or Solgold.
It clearly states we are going to bring it to production.
The updated PFS for Alpala will outline the costs.
I believe we will JV this for around 50% or less.
Indeed, copper - I can't recall you saying we could do it alone.
Where on earth has all this talk of JVs and going into production suddenly come from again?
The SP would be heading down to 5p not up to 20p if that was behind the recent movement.
Some of you have been Quadied.
Big news coming and it ain't about going into production.
Q, which explains why it's ill-advised to believe 100% of what companies tell you.
I fear your prediction of 50% or less is some way off the mark. This is NOT what the CGP boys have signed-up for.
Seanhunter try reading DBW's post it couldn't be clearer, we are going to production with a JV.
This is the article that was difficult to post a few days ago.
Addicknt I never said we would own 100%
I just said production was the most likely outcome.
And it looks like we are going to production.
I do admit that I didn't think we would get a JV and I am wrong on that if that's what Solgold now do.
But it looks like what ever way you look at this we are heading towards production.
Dare say seanhunter has now read the article and realised his hero Slug continues to be 100% wrong about Solgold and indeed everything in life.
Don't see the likes of Andywest and Jezzoo apologizing to me, as I won't hold my breath.
And the likes of Redknight and ColonelDrake have been shown to have been talking rubbish.
Feel free to apologize to me.
Quady
The posters you mention are gambling and want a quick win, the most rewarding route, but also the riskiest route, is to production if the mine is all it is cracked up to be.
No major is going to pay the silly inflated prices the likes of Seanhinter, Dbw etc are spouting.
A JV reduces the risk massively but the payout, judging on recent progress, will be a long time coming.
Those over leveraged gamblers redknight et al can’t wait that long……