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SolGold is utterly wonderful. All hail SOLG and the huge riches it will bring us soon.
Rock on King Bob, Emperor Scott and Dangerous Dan Vujcic.
Bozi
With this level of performance sp, and progress , shareholders should be asking tough questions but highly leveraged rampers can’t face that honesty and try to sweep the junk under the table in the hope that a rabbit will get pulled out of the hat.
They’ve been doing this for 5 years plus, if Cascabel was the greatest find this century, majors would be falling over themselves for a piece of the action, it’s currently available for peanuts in the greater scheme of things.
No one is going to fight over Solg Noront style because of where it is despite what the rampers post. If there was an earthquake in Ecuador they’d turn that into a positive by saying the copper is easier to access ….
Ostrich and ramper spring to mind……
Ref my posts showing how the craving and need to be centre of the universe on solg board are causing the clowns to get more and more desperate by the day to think up something new to get back in the seat.
Kats latest blockbuster should get him in the seat for a short while.
But as I post I'm assuming adikt, quady and one or two others are dreaming up something to outdo him, and topple him from ridiculous post of the day top spot.
Tough questions, please Tesla1? Nah, I don't know what you mean.
Sunshine and roses here.
Warren is briefing PIs. Scott is playing a blinder keeping the price low. All points to a conclusion in the coming weeks of course.
Careful Bozi, TheItalian will be racking up shortly to scold you for not have as bigger/significant multiples invested in solg like himself:)
Anyone who raises questions regarding Scott's performance to date are stressed out because of their tiny, insignificant investment here as stated by TheItalian!
Come on Eloro time to let that one go.
Bozi, we see eye to eye on most things SOLG, but I'm struggling with your criticisms of Sangha on the other thread last night. Whilst I appreciate the now infamous 'Bob's bat' story in the AFR was a PR exercise, some of his pedigree was included in the piece:
"The bat bears the label “stupidity reset device” in honour of Sangha’s work in outfoxing the much larger multinational GoldCorp when it made multiple hostile moves on Osisko between 2009 and 2014.
When Sangha helped thwart GoldCorp’s hostile takeover by arranging for most of Osisko’s assets to be sold at a higher price to Agnico Eagle and Yamana Gold in 2014, it was not the last time he took delight in wrongfooting a mining giant.
Sangha was in Forrest’s corner last year when Australia’s second-richest man launched a six-month bidding war against BHP for control of Canadian critical minerals explorer Noront.
BHP walked away from that battle in the belief Forrest’s private company Wyloo Metals had overpaid for geology that was very remote and at an early stage of scientific assessment. Forrest walked away with the prize."
It's hard to believe that Forrest is going to hire someone he doesn't rate to go toe to toe with BHP. I think it's fair to say he has built a reputation for being a strong dealmaker in the industry. A good person to have in our corner.
You don't need to take any notice of it NAL, everybody can post and have an opinion. just filter them or ignore... simples
you know where this is going, I know where this is going, obviously everybody has different timescales and expectations
You are right SM, I will stop trying to wind up our Italian poster:)
SM - I wasn't criticising Bob. I asked the other contributors to this forum whether anyone was aware of the specific projects he had worked on prior to being enlisted by Scott and the BoD.
I wasn't aware of the AFR piece and am not subscribed and wasn't aware of it being posted previously.
That piece does add some colour in terms of how the relationship with Osisko has flourished and it's intriguing to know he was involved in the Noront deal.
It does give me more comfort than I had but I'd still prefer the big boys (Citi) to have at least one hand on the wheel.
Bozi, it's often the case that the best corporate advisors don't work for the major investment banks. They start their careers there, build up a client base, establish their reputations and then move on to set up their own boutiques where the rewards are far greater...provided they get it right. Sangha has done just that.
The other factor to bear in mind is that if it's your own shop and you don't have the luxury of a large salary coming in every month, you'll work far harder and will be more motivated to get the best outcome for the client.
For one thing, if some of the shareholders were to vote against SC, which is in their rights of course, it would be a good exercise to 1) estimate the votes that will be in support of SC anyway to see if it's even worth bothering to vote against him, and if the numbers represent a credible threat then 2) reach out to SC and let him know that shareholders don't buy into the Q1 promise and want to see tangible progress before the AGM to better inform their vote.
Otherwise, I think that any protest vote risks being just a waste of time.
Personal opinion that is.
Appreciate that Add. However, I have more than a slight suspicion that if I'd offered you the choice between Citi and Maxit acting for us prior to any knowledge of the merger and SR that you wouldn't be so in favour of the latter.
Not everyone sets up their own shop. Plenty go on to become partners and senior partners of the big boys, and they stand to do just as well as the go it alone-rs.
As with any sector and industry, there are sometimes benefits of sticking with the renowned names and the trodden path. For me, a boutique firm holding the reins on what we hoped would be well in excess of a billion pound plus transaction leaves me with a bit of trepidation.
Dinner, if those are the numbers, then my #2 action point might be a useful one.
I don't personally think they are being slow on purpose but rather because of may externalities, so hurrying them might make no difference, but one never knows, we could easily speculate on things that might be put in motion if there was a material threat to their position.
There's no way I'm going to bring myself to vote against Scott and the BoD because I have absolutely no belief that anyone would be able to achieve a positive outcome any faster. It's been a painful year, but one that is just as so for Caldwell, Sangha and Irwin who all want an out and stand to make a load more cash than most on here.
Bozi, absolutely, particularly if you work for Goldman's. However, very few of my contemporaries stayed with the big players, with only one or two notable exceptions.
I understand your point about Citi, but Sangha is used to dealing with large transactions and in any event we've been led to believe that both parties are still very much engaged.
Why would Newmont or BHP vote against SC. Afterall, SC is doing all the heavy lifting and is ticking the boxes required to start development.
If they want this, BHP or Newmont will need to devise a deal with Solgold that would deter competing bids... There is no point putting forward a low bid as it would simply get trumped and then FOMO takes over...
Lets see if the SP rises in next few months which coincides with securing majority of the remaining permit approvals.
I would not be surprised to see the hand break released and the SP organically heads back to 40p before any majors news.
There would be fewer competing bids if they were to present 60p/80p takeover. Someone remind me what the SP was when BHP arrived...
SM agreed. We need stability, not another change of leadership, which would make us look even more vulnerable.
If you're bhp and or newmont, you would want to deter retail investors and or existing small shareholders from buying and or retaining solgold units whilst you were doing DD / advancing internals studies / allowing the business to secure necessary permits, therefore there is no surprise that the SP has been so dull over the last 12 months....
A little bit more patience is required and all will be revealled...
Bozi, I thought both Maxit and Citi are involved with Solg if I am not mistaken.
Eloro - Maxit are leading the strategic review via Bob and Dan so I'd say they are very much the firm in the frame.
They also arranged the last royalty with Osisko.
I don't know the day-to-day workings at the business but I'd assume that with this arrangement and the data room in operation that there is much less for Citi to advise on, particularly compared with before the merger or before the Franco royalty.
The next financials will tell us what they've done for the business in the last 12 months.
Bozi, you speculated that I may prefer Citi to be in the driving seat - I really wouldn't.
This is how these things often go.
If approached by a potential client the investment bank will put its team together to create a pitch document which it will present to the client. The presentation will be led by the senior man who will do most of the talking. The problem which may then arise with the large investment banks is that once they've won the pitch, the top man recedes into the background and the number two will run the transaction. The boss only emerges towards the end of the process, or if the solids hit the fan, to ensure everything is as it should be and to collect the accolades. This doesn't happen with a small boutique, where the boss will be very hands on throughout. This explains how boutiques came to thrive, as the clients came to realise they weren't getting what they thought they were paying for i.e 24 hour a day access to the boss.
It used to be the case that blue chips would always take the 'IBM option' and select one of the main merchant/investment banks - that has all changed.
I apologise if I'm teaching granny to suck eggs, as I suspect I may be.
I'm pleased we've got both firms on our side and don't care which of them brings someone to the table, but my money is on Sangha winning.
Not at all, Add. It's your field and it's good to be able to get a trusted view of how the process would work.
My assumption was simply based on how the two firms were viewed prior to the news of the merger and SR. Citi were considered in the box seat and Maxit were the plucky backbenchers who had helped with the Newcrest proposal and since had connections with CGP following the whole share swap charade involving Warren (and possibly Bob too).
I do think attitudes have changed a little bit and Maxit have engineered themselves to the fore. They probably deserve credit for that and maybe I'm not giving it them.
Your overall point is correct though. It doesn't really matter as long as they deliver.
I thought it a good conversation worth having - thanks for not completely dismmising me, and thanks to SM for the article he shared. It's just something a little different in a time where some are tired of samey discussions.
BBG, usual end of the month weakness for equities as a whole but September notorious for it due to end of the Q period too. Q4 starts next week and Scott and SOLG have roughly 10 weeks to pull something out of the bag or else I think the AGM will be very difficult for Scott and co. A full year is more than enough to draft up a revised PFS. Even if there are some finer details that need that famous optimisation analysis, they can still give us the main PFS plan and numbers of significance can follow in Q1. News on exploration plans also needs to be telegraphed even if that means they say nothing until after Q1 2024.
I think Scott will be down by 30% votes before AGM starts and that's without PI's even bothering. I can't see him getting more than Mather did last time around so that would make his position untenable. No big deal for Maxit and Bob and they will just stick another stooge in there while they spend another 6 months apparently looking for a new CEO LOL! By then I imagine things will be moving in right direction.
Tick tock.
Fort in August: "So disappointing to see the momentum lost but it will build again once market returns to proper trading 3rd week of Sept"
Fort in September: "usual end of the month weakness for equities as a whole but September notorious for it"
Given you write off all of summer and now September, can you let us know which months are actually positive for equities? Does they follow the same rules as oysters?
Do they*