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While I understand some on here bought for the long term and a future of production and dividends, but few could argue that is at least 7/10 years off...
And I don't think its selfish to want a substantial return in the near future rather than waiting with an investment that pays nothing while missing other opportunities in the market.
And those who fear a 'low ball ' bid need not fear a lowball takeover, because we already have three majors involved and another one stalking Cascabel...
I am firmly of the opinion that a takeover battle looms and even if the first bid was say 40p, that will be well short of the end game. After all, when you consider BHP and Newcrest's entry points, why would they concede defeat and cash their chips for less than 70/80p...
Even a successful bid that low would be a gain of 350% from the current price...
And before you say it, what you paid is irrelevant unless you have somebody else to answer to. The price is wherte it is now...18.5p...and if that does not represent fair value to you, what can you do about it?
In the next post I will repeat my concerns about the J/V 'option' with the salutary tale of Havieron, for which read Cascabel.
But for now, if you believe all the hype from Mather (at Noosa), Sangha and Irwin, this is going to get sold soon.
But even if you don't, you MUST vote at the AGM. Its been hard for me to admit it, but we must vote to keep Nick and his colleagues in post, because the alternative is for BHP/NCM to carve up the remains of Solgold in an orgy of pillage.
Thanks
I still have Quady filtered, but I have picked up that he has moved his position from production to J/V, because he has to believe he is right.
Frankly that would be the worst of all options as I posted the other day...
"If you want to consider the risks of a J/V and the possible SP effects, just look at GGP, NCM and Havieron...
November 2020:
"Newcrest and Greatland sign new landmark agreements to facilitate the acceleration of early works and expanded exploration activities at Havieron"
SP rises from 21p and tops out at 37.35
SP drifts all the way down to 15.6 in October 2021
7 October 2021 PFS Results and SP spikes to 15.6
Recommences its drift down to 9.3 in July 2022
19 August 2022:
"Further to Greatland's announcement of 21 July 2022, Greatland is pleased to advise that Newcrest has elected not to exercise the option under the Havieron JV agreement to acquire an additional 5% interest in the JV from Greatland"
SP now stands at 7.5p...80% below its peak...and investors are still waiting for the crock of gold..."
Be careful what you wish for...
RK its only when you stray into an area where I clearly know far more about the subject than you do, when I wonder whether old Tel aint so smart after all.
GGP and Solgold are at all similar and it does you no favours to suggest it is.
But as this board is about Solgold I will leave it there and let you continue with your distorted narrative...
I am not criticising GGP in any way...I'm simply using them as an example of how a J?V isn't necessarily good for the share price.
I don't blame GGP one jot. NCM's offer was no-brainer for what will be a very expensive mine to build.
But I feel genuinely sorry for shareholders that NCM shafted them and don't want a repeat by BHP?NCM on here...
I hope you understand.
I will leave with you with one fact about the sp movements. If you take out the amateurish way in which VanEck bought about 270m shares and the effect that had on the sp, the movement of GGP has followed most of the junior sector, up and down. There are so many really interesting things to learn about this JV, but as I say, thats for another board.
I am ambivalent about JVs, they suit some and not others. They wouldnt suit Solgold cos its management is totally useless!
My 2 pennies worth and perspective..having been here since the 1p days it has been long enough...for me that is ! Hopefully the ducks are aligning now to put it all to an end as I with many others do not believe Solg can get this to production without massive dilution and a whole array of issues and that is with or without a jv partner.
For all of those that have said many have been banging on about a takeover for years it is not unreasonable to have come to that conclusion with Solg though is it..many juniors in the oil and mineral exploration that have a great find get taken out and history dictates that is a fact..just a matter of timing really ..just like Cornerstone would have struggled to come up with their financial obligations so would have Solgold in any jv as we get diluted into oblivion by the big boys. I bought into Solgold because of NM and I believe he is still instrumental in getting a sale process done and believe the ' diverse ' book is on his side as the majority also want it done. If we keep some of the tenements to rinse and repeat great !