Solgold Share Discussion Threads

[jlondon] 17/7/2017 15:12

@bookvan

It just research if one knows how to use the information ie raw data.

[bookvan] 17/7/2017 15:08

@jlondon - Thanks. It sounds like you are providing a kind of information service or reference library for the rest of us? There's no unifying message. I thought I was missing something. BV

[jlondon] 17/7/2017 15:07

SOLGOLD


"Consensus Forecast amongst 3 polled investment analysts covering Solgold Plc. Buy 1, Outperform 2, Hold 0, Under-perform 0 & Sell 0.

"Low-50p, Median 55.5p and High 61.03p."

Source: Financial Times Forecast
Please check as there can be typo errors.
DYOR

[jlondon] 17/7/2017 15:03

@bookvan
A quick reply-one will find the divergence of opinions/views elsewhere eg CEO.CA for Cornerstone Resources of Canada [Solg^s JV partner]. As for Solgold, there is also Hotcopper DGR of Australia- their subsidiary is Solgold.

So the data I post is a culmination of information drawn from research.

It is conservative to do so. The reader can dot as they see fit.

Hope that helps.

Thank you.

J.London, 17 July 2017

[lefrene] 17/7/2017 14:58

Hilarious mis match between here and TSX, currently 90c (54p)

[lefrene] 17/7/2017 13:11

Yes it lacks camouflage bookvan. But I don't know if they seek a quick killing, and if so what's their price? Or whether it's solidarity with Solg to help repel boarders. I guess the quick killing is the most likely, if so they likely already have a client in the wings.

40 moz's is roughly $50 billion in the ground, and with a copper shortage predicted to occur, that value could more than double over a couple of years. So at what price would the horse dealing end?

[bookvan] 17/7/2017 12:52

Hi @lefrene IMHO Trojan Horse. Not even sure it's as subtle as a Trojan Horse.

[bookvan] 17/7/2017 12:50

Hi @Jlondon

I'm a poster on this board that asks questions that are so stupid other posters don't even think it's a question let alone needs an answer. The thing is all these long posts of yours are packed with so much fantastic information and links that I'm lost in it all and all the time missing the main point. It's like I can't see the shape of the forest for all the interesting trees to look at and count the leaves. For the thick one on the back row can you spell out the message you are putting across in all this detail. Just a couple of sentences would be much appreciated. Thanks.

BV.

[lefrene] 17/7/2017 12:41

I forget the reference but we have also had quoted from Solg "10 billion tons at 2% ev cu" , but whichever indicator of value one reads, they are each vast.

So what is Cornerstone and it's associate up to? Is this friendly towards Solg, or are they setting themselves up to be a Trojan Horse for a would be predator?

[jlondon] 16/7/2017 11:57

FOUND THE EVIDENCE THAT DGR GLOBAL ALSO QUOTED 40 MOZ EQ.

Link: www.dgrglobal.com.au/wp-content/uploads/2012/07/2012.07.19-DGR-Presentation-NOOSA-Mining.pdf [If link does not work, Google the DGR Presentation at the date shown at Noosa.]

Extract:

"SOLGOLD WORLD CLASS COPPER GOLD PROJECTS- Cascabel Property in Ecuador.MAP: CASCABEL PROPERTY- APPROX 40MOZ EQ."

Note: On the map of the DGR Global said Presentation, the word Cascabel Property and Approx 40moz eq on the map is shown in YELLOW HIGHLIGHT.

So, from the HORSE^S MOUTH IE DGR GLOBAL.

J. London 16 July 2017 [In answer to poster]

[jlondon] 16/7/2017 11:12

Elucidation
Re: Copper and gold "boiled" down to gold per oz.
Firstly, I am aware that Solgold via Cascabel in Ecuador is a project with copper and gold.

The figure I quoted of "40 moz" is taken from NM^s Linkedin from the past. On Linkedin, one can make changes to any c.v so this was taken from the past.

The CONTEXT of 40 million ounces of gold was "qualified" [said that it is "boiled down"].At this moment in time, shareholders are waiting for the Maiden Resource Statement so figures are NOT at hand re: copper and gold actual figures. Note it is potential.

At this moment in time, there is news from the Cornerstone Resources side especially their July 13, 2017 announcement which is now the subject of discussion. Other news in recent days is also relevant.

Any shareholder would need some figures for Cascabel because one needs to have some idea of the possible M & A figure. So, in trying to get an idea, one uses what NM said in the past on LKND. Then, one takes what the "industry" has discussed at PDAC in Toronto recently. The article I quoted from PDAC does not quote copper and gold separately so one has to use the gold EQUIVALENT figure.

By multiply the potential 40 moz to the M & A figure quote in moz, one has an idea. This is then COUNTER-CHECKED with the NORMAL % premium offered at M & A. So from a snap shot one can counter-check to gain some insight. The 2 figures ie one from the 40moz equivalent potential vs industry norm M & A % premium appears to be within the range one is looking for.

Any shareholder will want to know about how the directional.

On CEO.CA CGP especially, CGP has been very much discussed. Each post lays out their opinion from the information.

So, everyone wants to know what happens to their stock ie Cornerstone Resources or Solgold. Even the Australians in DGR want to know about Solg as they are the 3rd largest holder of Solgold after CGP and Newcrest ie single largest not composite.

When I have some time, I will look up academic reasons why it is so.

IF ANYONE CAN FIND OUT HOW MUCH THE INDUSTRY IS PAYING FOR COPPER, at this time, then the figures can be re-worked as a guide again and then checked against M & A premium at this time for acquisitions. Thanks.

[bookvan] 16/7/2017 11:02

Maybe the world doesn't need gold but a lot of evidence points to the fact that China seems to want it quite badly and she's not the only one.

[onedayrodders] 16/7/2017 10:17

Noccer ... "world doesn't need Gold"

It may seem that way but with all the debt and paper money supply over the last 20 years or so, fiat money is losing its value fast and one day soon people will turn to precious metals hard assets to maintain their purchasing power.

To keep the paper ponzi scheme going the FED and central banks with their "agents" sell billions of paper gold on the Comex that they could never physically cover and the regulators who obviously are paid to turn a blind eye do nothing.

That game is running out of time

[onedayrodders] 16/7/2017 10:07

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.

[noccer] 16/7/2017 09:33

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).

[jlondon] 16/7/2017 00:49

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 16:13

"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 23:29

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.

[markth126] 14/7/2017 23:23

Is this all good news for us pi's? All sounds very confusing. Hope we don't get sold out too cheap

[lefrene] 14/7/2017 22:58

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.

[jlondon] 14/7/2017 22:21

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 21:40

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

[lefrene] 14/7/2017 21:22

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.

[jlondon] 14/7/2017 20:17

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.

[mam fach] 14/7/2017 16:44

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.