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SOLG Solgold Plc

10.60
1.31 (14.10%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Solgold Plc LSE:SOLG London Ordinary Share GB00B0WD0R35 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.31 14.10% 10.60 10.28 10.40 10.60 9.29 9.41 27,101,273 16:35:07
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 3.9M -50.34M -0.0168 -6.20 312.72M
Solgold Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker SOLG. The last closing price for Solgold was 9.29p. Over the last year, Solgold shares have traded in a share price range of 5.67p to 22.60p.

Solgold currently has 3,001,106,975 shares in issue. The market capitalisation of Solgold is £312.72 million. Solgold has a price to earnings ratio (PE ratio) of -6.20.

Solgold Share Discussion Threads

Showing 10676 to 10700 of 41900 messages
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DateSubjectAuthorDiscuss
16/7/2017
09:07
IMPORTANT

hxxp://www.sedar.com/FindCompanyDocuments.do

Document July 13th 2017. 14.38.18. (Page number 10 of the document)

Section 3.6 b5

Cornerstone can't sell its remaining 15% in ENSA without Solg consent. Solgold holds the cards. Solgold has first refusal to buy those shares.

onedayrodders
16/7/2017
08:33
You said "Whilst Cascabel has both copper & gold, it is norm to round up potential to x per oz of gold." Seems strange to me to look at the resource in gold terms, when Solgold reports ore concentrations as copper equivalent. Because of the use of copper in electrical and plumbing I can see there are supply and demand relationships, but gold is far more ephemeral. As far as I can see the world doesn't need gold, but it certainly needs copper, and copper prices have been recovering as world economies recover (and electric vehicles are introduced).
noccer
15/7/2017
23:49
Comments from Chris Temple of National Investor
Attribution: Cutterclose, Stockhouse Bullboard Cornerstone Resources, TSX
Dated 15 July, 2017 Post#26473392

Quote:
"Its a matter of time before a "major" makes a play for Cascabel..."
"..-Cornerstone^s decision to break up the company is the logical conclusion of the thoughts behind the recent big share exchanges."

Note: The said comments were made at a time when Cornerstone had an economic interest of 25%, now it is 30%.


PLEASE CHECK- there can be errors. DYOR [Applies to all posts]

jlondon
15/7/2017
15:13
"BATTLE FOR SOLGOLD"-
-"The key question for Mather is where all his billion plus shares are held. At one recent investor meeting he was spotted totting up tables of which f u n d s hold how many shares, trying to get a handle on how a battle for Solgold could play out."

Source: "Global Mining Observer; A Billion Shares; One Copper Discovery."
Tweeted by Solgold on Twitter on July 12, 2017

(2)Institutional Top Holders -HOLD 22.75% of Solgold shares
Source:
[Fidelity Canada 4.15%, Barclays Private Banking 3.66%, TD Direct(Europe) 3.58%, BMO Capital Mkt Canada 3.50%, HSBC Global Asset Management UK 1.65%, RBC Dominion 1.61%,Royal Bank of Canada (Channel Is) 1.36%, Hargreaves Lansdown Stockbrokers 1.31%, Hargreaves Lansdown Asset Managers 0.99% & Oppenheimer Funds 0.95%]

(3) Holders of Solgold shares - appox guide

>DGR Global, Australia -13.5%
Tenstar - 9.42% [HK Investor]
Solg Directors -6.72% [Includes NM 5.9%]
TOTAL = 29.7%

>Newcrest * - 14.54% [Subject to 60% rule in order to vote with Solgold Board in any capital event-check Solg RNS 30 Aug 2016 re:Conditional Agree^ with Newcrest-"..where it is demonstrable that holders of 60% of Solgold shares voting at a meeting or lodging acceptances are supportive of the particular formal proposal."]

>Cornerstone Res* - 18.03% [Includes Lock-up agreement with 6.8% Solg holder until 28 Aug 2017 but can be extended etc[*] , 14.7.17 RNS] + 15% interest in Cascabel Concession till Bankable Feasibility Study etc.=30% economic interest.

>Top Institutional Holders as above 22.75%

>>>Grand Total of Above= 85.01%
>>>FREE FLOAT: 100%- 85.01= 14.99%

(4) Cornerstone Resources [TSX,Canada] in owning 18.02% of Solgold shares [*] is the LARGEST Single holder of Solgold shares. No other single holder comes close to this.

Ref: Public Mergers & Acquisitions in Canada- Rose Norton

The Bright Light Threshold is 20% so Cornerstone Resources is 1.97% SHORT of this threshold. [Canadian Rules M & A]

Further on any offer, it needs a further 50% of votes etc. See minority holders etc.

Comment: It has been commented that Solgold has 1st right of refusal to buy the 15% of ENSA holding the Cascabel licence. However, if in theory, Cornerstone Resources is taken over, the acquirer is buying the co [Cascabel Gold & Copper Inc-new name] rather than Cornerstone Res selling their said 15% ENSA Cascabel Concession.

REF: Cornerstone Resources RNS, 13 July 2017 stated:"..we had as our o b j e c t i v e to advance the property to a stage where it could attract the interest of MAJOR MINING CO^S to ACQUIRE the Cascabel concession AND/OR Cornerstone."

(5)"Majors Crouched but not ready to pounce."-Mining Journal.com, 20 Mar 2017
PDAC Conference in Toronto-"However, valuations still below the HIGH of $74/oz seen in Aug 2011 & average TAKEOVER VALUE $70/oz since 2012. Valuation for exploration co now sit at an AVERAGE of $55/oz firmer than the $48/oz in Dec following the Fed hike .."

Comment: Whilst Cascabel has both copper & gold, it is norm to round up potential to x per oz of gold. On open file LKND, it was earlier stated there was a potential 40moz. So, based on $55/oz= 40 x 55= US2.2 billion or £1.67 billion [£1=US$1.31]

(6)Solgold share price ended at around 40 pence, Mkt Cap £607.7 million with appox 1.515 billion shares in issue.

Cornerstone Resources share price ended at Canadian 53 cents with a market cap of C$162 million or £97.59million [£1=C$1.66] Shares in Issue around 300m.

*Figures are approximate -Please check for errors -DYOR-IMHO

J.London Sat 15 July 2017

P.S. CANADIAN OPINION- Just went to Stockhouse Bullboard Canada CGP and this is the post at the top by Hirk77 [A rated poster with 4 stars out of 5]. Hirk 77:"The lockup is for 6 weeks. I think the clock just started on the short life of Cascabel Copper and Gold.gtla." -15 July 2017

<> VOTES
DGR Global Australia [13.5%] + Solgold Directors 6.72% [NM 5.95]+Tenstar [9.48%] ===29.7%

INSTITUTIONS-TOP Holders 22.75%

NEWCREST 14.54%*

CORNERSTONE RESOURCES* [Cascabel Copper & Gold Inc-new name]
18.03% [Bright Line Threshold M & A, Canada is 20%]

FREE-FLOAT 14.99%

jlondon
14/7/2017
22:29
Cornerstone Resources with 18.03% appears still short of Solgold shares.

It depends whether one is applying Canadian rules ["Brightline ownership threshold] or London City Code Rules.

If Cornerstone Resources July 13, 2017 announcement is taken into account, they appear to not have sufficient Solgold shares yet to reach the Canadian Brightline ownership threshold.

As Solgold is now dual listed in London and Canada under TSX, it makes it more interesting in terms of the said rules.

So, one awaits the next few steps since CGP^s announcements of 19 June, 4 July, 13 July and 14 July 2017.

All theory until it happens via public announcements.

P.S. Newcrest [14.54% owner of Solgold shares] are subject to the 60% rule in any capital event and voting as per Solgold RNS.

Link to check the RNS: www.solgold.com.au and www.cornerstoneresources.com

J.London, Fri, 14 July 2017.

jlondon
14/7/2017
22:23
Is this all good news for us pi's? All sounds very confusing. Hope we don't get sold out too cheap
markth126
14/7/2017
21:58
So are BHP so hacked off at Nick Mather not giving them what they wanted, that they are orchestrating a deal with other interested parties? Seems we have six weeks to find out.
lefrene
14/7/2017
21:21
My post was accidentily wiped out when I used backspace.

I will attempt to summarise the post that was wiped out. Cornerstone Resources[CGP] in their 13 July 2017 announcement appears to have invited major mining co^s to take them over. So effectively, a For Sale sign put up. Please read the said announcement to see if it is stating that?

Today, a further corporate event happened today, 14 July in that CGP will now own 18.03% of Solgold shares via a Lock-in agreement with a 6.8% holder valid to 28 Aug 2017. CGP also owns 15% of the Cascabel concession until BFS etc. Total economic interest 30%.

Therefore, it would in theory be classed a friendly takeover as the invitation appears to be in their announcement of 13 July 2017.

If in theory, a major takes over CGP, then the acquirer would overnight become a major stakeholder of Solgold at 18.03% together with 15% in the Cascabel project which appears to equate to a Joint Venture Partner?

At 18.03% CGP is currently the SINGLE BIGGEST shareholder of Solgold. I have given the other holdings earlier to illustrate this.

CORNERSTONE RESOURCES
Their shares closed at Canadian 53 cents +9.23%, a 52 week high with a market capitalisation of Canadian $162 million [300.15 million shares in issue].

SOLGOLD Plc-dual listed in London & Canada [TSX:Solg effective 14.7.17]
Solgold closed in London at 40 pence, Market Cap £607.75 million. [1.515 billion shares in issue].

The exchange rate today is £1=C$1.66 One can see that the Solgold mkt cap is massive at £607.75 x 1.66 vs $162 million for CGP^s Mkt Cap.

J.London Fri, 4 July 2017

jlondon
14/7/2017
20:40
Cornerstone Resources via their new name Cascabel Copper & Gold Inc are now the BIGGEST owner of Solgold shares at 18.03% albeit that 6.8% is via the Lockup Agreement with a Holder dated Fri, 14 July 2017.

The other holders of Solgold shares:
1)DGR Global 13.5%
2)Directors of Solgold 6.72% [NM 5.9% of this]
3)Tenstar 9.48% - Hong Kong Investor

4)Newcrest-14.54%

Note: The only other holder of Solgold shares are Guyana Gold holding 6.82% which would logically fit the bill possibly for the Lock-up Holder.

WHAT DOES THE MARKET SAY?
Within the last few 10-15 mins, the shares of Cornerstone Resources leaped to Canadian 53 cents, a rise of 9%+.

So the market has taken in this news.

Canadian investors of CGP have commented that CGP is over-valued to Solgold in terms of the Cascabel concession. CGP also has 15% to BFS in the Cascabel concession making their economic interest at 30% [CGP RNS]. The lock-up agreement is up to 28 Aug 2017

The market has therefore built in a premium in CGP shares as they said they will not let their shares go cheaply.

Things are moving quickly with corporate news on 19 June, 4 July, 13 July and 14 July, 2017.

J.London Fri, 13 July 2017

Fri, 14 July 2017

jlondon
14/7/2017
20:22
Someone expecting an early low ball bid? Stick together so that they can't get a lever in? Plenty of games going on in Solg world.
lefrene
14/7/2017
19:17
Fri, 14 July 2017

Cornerstone Resources
Trading Halt and Lock up Agreement


As a result of the lock up agreement with a holder of 6.8% Solgold shares, Cornerstone now owns 18.03% + 15% direct interest in the Cascabel concession.

jlondon
14/7/2017
15:44
Its all good. But sooner we leave aim the better. Traders played havoc with share price as all LTH know.Not many shares manage to get promoted but those who do have much better chance of success. Well done all who haven't been rattled into selling last few weeks. Not been easy.
mam fach
14/7/2017
13:08
ODR, I don't think much is going to happen, it's not as if Solg has never been heard of, people in Canada can easily have bought on the London market. I think the London main market up coming listing might be more helpful, as funds barred from investing in AiM might want some Solg.
lefrene
14/7/2017
12:56
5 minutes and counting .....


;o)

onedayrodders
14/7/2017
09:15
VirenVit, you don't need to do anything, it's the same warehouse, but it now has a shop in Toronto as well as London.
lefrene
14/7/2017
08:14
Lots of info posted on SEDAR for TSX listing, including a NI 43-101 technical report dated February. It doesn't have a mineral resource estimate as far as I can see, but its an important step. It seems maiden resource estimate is now slated for end of 2017.



Steve

noccer
13/7/2017
22:35
"Cornerstone to spin off Non-Cascabel Assets and to re-name as Cascabel Gold & Copper Inc.; Greg Chamandy to join board as Chairman."- TSX announcement, 8 hrs ago, 13 July 2017

Brooke McDonald, CEO: "When we acquired the Cascabel concession in 2011 and then, subsequently, created a joint venture in 2012 to explore the Cascabel concession together with Solgold, we had as OUR OBJECTIVE to ADVANCE the property to a stage where it COULD ATTRACT THE INTEREST OF MAJOR MINING COMPANIES to ACQUIRE the CASCABEL CONCESSION A N D / O R Cornerstone as it is our commitment to MAXIMIZE SHAREHOLDER VALUE."

Link: www.cornerstoneresources.com

Note: The Cascabel concession is jointly owned by Solgold 85% & Cornerstone 15% in ENSA-Ecuador >Cascabel licence.

jlondon
13/7/2017
22:00
So logistically do we need to move our shares? Sell and re-but? Surely we just hold on and watch it fly?!!
virenvit
13/7/2017
14:14
JlondonTomorrow afternoon should be an interesting day. Trading should be possible when tsx opens at 14.00
smoothtrader
13/7/2017
14:00
Is this the stock market equivalent of the Germans putting their towels on the loungers by the pool? :¬)
lefrene
13/7/2017
13:56
Cornerstone Resources [TSX:CGP]

New announcement:"Cornerstone to SPIN OFF Non-Cascabel Assets and to Re-Name as Cascabel Gold & Copper Inc: Greg Chamandy to join Board as Chairman." 15 mins ago, 13 July 2017 [Link to TSX given earlier]

New announcement:"IIROC Trade Resumption-Cornerstone Resources." 5 mins ago, 13.7.17

Note: Tried to get a quote for TSX:CGP but NO LIVE QUOTE to buy. Tried again, still NO live buy quote for CGP now 3.15pm UK time.

Fri, 13 July 2017 2.55pm

jlondon
13/7/2017
13:39
SOLGOLD PLC [London listed] & to begin TSX listing tomorrow, 14 July 2017

Cornerstone Resources Plc [15% holder of ENSA] has an "IIROC Trading HALT."
www.stockhouse.com/companies/news?symbol=v.cgp [37mins ago] 13 July 2017

1 hr ago, Cornerstone Resources Plc had 2 announcements: "Early Warning News for Greg Chamandy & Dmyant Sangha." 13 July 2017 [Same link as given above]

PREVIOUS RELEASES: Cornerstone Resources [TSX:CGP]

June 19, 2017 & July 4, 2017 - Cornerstone Resources Inc at www.cornerstonerecources.com

Comment: So June 19, July 4 and now July 13 2017 for news on the subject matter. READ THE 2 RNS re: Greg Chamandy & Dmyant Sangha - lots of details.

jlondon
13/7/2017
13:01
The way the price seems stalled one would think the TSX is gong to be used to open big short positions. Ah! that's how BHP is going to get it's hands on Solg? Well I hope not, but I guess no holds will be barred when trying to grab a valuable asset before it gets recognition by institutions. Owning Solg would be a big boost for BHP, the buried value would bolster BHP asset value and I guess probably lift their stock value by more than Solg cost them. Within the hour we should begin to see if the TSX presence does anything for our value.

PS Oooops this is Thursday, it's tomorrow that the listing happens, another 24hrs to see what happens.

lefrene
13/7/2017
12:45
I think today's modest rise shows we have exhausted current trading platforms and the timing couldn't be better to open up on the bigger stage.
onedayrodders
13/7/2017
11:22
Interesting that we didn't have to wait for the maiden resource report before being accepted on to the TSX. Hopefully being accepted by TSX will smooth our path to the Main Market. I find it odd that people sell just as everything begins to come together. NM has shown that he can be trusted to deliver as promised, which is a rare thing on AiM.
lefrene
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