Solgold Share Discussion Threads

[lowtrawler] 14/8/2020 12:22

In my view, Newcrest are behind the requisitioned board meeting but are using CGP to front it. Let's face it, if Nick stays, any bidder is going to have to pay over 100p for SOLG and Newcrest would struggle to explain that sort of premium to their shareholders. Under my scenario, they inject £50m for a further 10% and a few months later launch a joint bid with BHP at, say, 35p. BHP and Newcrest end up in a JV for Ecuador mining and pick up SOLG for less than the worth of Alpala alone. They are able to achieve this due to the incompetence of CGP.

[lowtrawler] 14/8/2020 12:09

Rp, nobody, least of all me, thinks there is any substance to the CGP claims and nor should anyone have any respect for them as a company. It is using CGP as a Trojan horse to get what they want. I suspect the new board nominees will come mainly from Newcrest.

[rougepierre] 14/8/2020 12:01

Why on earth would anyone get into bed with those eejits at CGP...

Would you...?

Did you read my post about their technical insolvency...?

It would be a very big step for companies with the international standing and respect that Newcrest and BHP have, to participate in such shenanigans...

Have you seen all the posts about who is running CGP?

Anyone is entitled to an opinion lt but really this stretches credence...

AIMHO as usual...

[lowtrawler] 14/8/2020 11:18

Personally, I think that's exactly the game Newcrest are playing. BHP are more difficult to judge and could refuse to join in the party. If both Newcrest and BHP side with CGP, I suspect Blackrock will go along with it but they could also surprise. The reality is, Nick will likely have overwhelming support from PI's and the smaller institutions. If BHP and Blackrock side with Nick, it is game over. If they side with CGP, it will be a very close call and dependent on mobilisation of the PI vote but odds will be with CGP. Blackrock may well swing it.

In the event CGP are successful, I would expect the FNV deal to be cancelled, additional equity allocated to BHP / Newcrest to replace the FNV financing with a joint bid for SOLG to follow, recommended by the new Board and shares pledged by BHP, CGP, Newcrest and Blackrock who between them by that point will already own close to 50% due to cancelling the FNV deal. Game Set and Match.

[alwaysevolving] 14/8/2020 11:14

I tend to agree with you Lowtrawler. Makes perfect sense.

[rougepierre] 14/8/2020 11:09

You can work it out...

[lowtrawler] 14/8/2020 10:37

Rp, why do you think that's nonsense?

[rougepierre] 14/8/2020 10:15

"If the big players want to achieve this, nick must go. CGP are presenting them with an opportunity. If successful, puppets can be installed to the board and a cheap takeout arranged."

[riotinted_specs] 14/8/2020 09:44

Hey RP, what is nonsense and why? Cheers Rio

[lefrene] 14/8/2020 09:23

Only a couple of months before BHP come out of purdah, then it's game on. The big boys want the asset on the cheap, and CGP happy to sell for the best they can get.

[arcadian] 14/8/2020 09:19

Greed and jealousy are not easy bedfellows. Despite the small size of Solg NM is a wiley and seasoned operator who will confound the pessimists and doubters as our version of Macbeth unfolds.

[rougepierre] 14/8/2020 09:18

Nonsense...

[lowtrawler] 14/8/2020 09:10

I recommend PAtience THErapy to The Investment Community, or pathetic for short. The issue is rampant amongst that crowd.

[p winky] 14/8/2020 08:34

Lol, lovely reading

[lowtrawler] 14/8/2020 08:28

The issue as I see it is that nick controls 20% of SOLG and so can plough a path for SOLG which avoids the big players getting their own way. Both BHP and Newcrest clearly wanted to provide additional equity financing so they could up their stakes and have more influence. Nick found a way to finance without them and is determined that SOLG become an independent producer in Ecuador. So long as nick is in charge, none of the big players will be able to buy SOLG on the cheap and yet they don't want a new competitor emerging and they want to establish a major presence in what will be the world's next mining hotspot.If the big players want to achieve this, nick must go. CGP are presenting them with an opportunity. If successful, puppets can be installed to the board and a cheap takeout arranged.

[pob69] 14/8/2020 08:00

Peter Kerr is the informed source for the "gossip" on Newcrest's 'Concern and disappointment' and this new article actually makes only passing reference to SolGold stake and nothing on the spat which in itself is interesting... Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador

Newcrest has been investing aggressively in growth options over the past four years to reverse its declining gold production profile, from a stake in exploration company SolGold, to stakes in the Red Chris and Fruta Del Norte mines in Canada and Ecuador respectively.

[sithuk] 14/8/2020 07:56

From that interview with Cornerstone:"We are looking to increase shareholder value through our initiative to requisition a shareholder meeting of SolGold to be held after October 27th to change the SolGold Board. We expect all sophisticated shareholders plus Newcrest and BHP will support a capable board put forward by Cornerstone at that time."

[pob69] 14/8/2020 07:55

Newcrest has no plans to sell SolGold stake Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador

DESPITE pulling its nominee from the board of SolGold over a disagreement over funding, Newcrest Mining CEO Sandeep Biswas says the company has no plans to sell its 13.6% stake.

[arcadian] 14/8/2020 07:48

I find it very disappointing that on a Friday morning in August SOLG have not announced that BHP are taking over the company for $10 billion. They have done this sort of thing before and it`s very annoying especially as they don`t seem to have a plan for not announcing this sort of event. They just don`t seem to appreciate the anxiety and expectation that has built up Monday to Friday and if this goes on I shall have to consider undergoing patience therapy.

[disruptor1664] 14/8/2020 01:59

Interesting review from CGP. They certainly talk a good game don't they.They almost make it out that 21% is a majority...October 19th. Doesn't seem to far does it.

[mam fach] 13/8/2020 23:26

Apologies ,my mistake.

[mknight] 13/8/2020 19:06

Mam

Rougepierre is talking about cornerstone not Solgold .

[mam fach] 13/8/2020 18:38

Best thing to do is Sell and move on if that's the way you feel.

[rougepierre] 13/8/2020 17:28

Lets face it...the share price is drifting...they're haemorrhaging cash, haven't made a loss of less than 7 million CDN in the last five years and have to keep selling SOLG shares to stay afloat...and they may be technically insolvent according to their latest MD&A...

"The Company as at March 31, 2020, had cash balances of $933,951 (December 31, 201 - $851,780) and current liabilities of $649,767 (December 31, 2019 - $962,178). To the extent that the Company does not believe it has sufficient liquidity to meet its current obligations, the Board of Directors of Cornerstone (the “Board of Directors”) considers securing additional funds through equity, partnering transactions or sale of assets. All the Company’s financial liabilities are normally paid within 30 days and are subject to normal trade terms. The Company has no source of operating cash flow to fund its exploration and development projects. Funding for projects requires equity financing or partner funding. The Company has limited financial resources and there is no assurance that funding will always be available to allow the Company to fulfill its obligations on existing or future exploration projects."

[arcadian] 13/8/2020 17:04

Thanks for not going to sleep POB.


They just want to sell Cascabel and will do anything, partner with anyone to bring that about.