SolGold Share Price (SOLG)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
SolGold	LSE:SOLG	London	Ordinary Share	GB00B0WD0R35	ORD 1P

	Price Change	% Change	Share Price	Shares Traded	Last Trade
	+0.20p	+0.49%	41.40p	2,378,159	16:35:29

Bid Price		Offer Price	High Price	Low Price	Open Price
40.85p		41.40p	41.50p	40.15p	40.30p

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Mining		-8.56	-0.67		710.6

Related Shares
Rio Tinto (RIO), Glencore (GLEN), Mila Resources (MILA), Richland Res (RLD)

SolGold (SOLG) Latest News

SolGold News

Date	Time	Source	Headline
17/10/2018	15:44	UKREG	SolGold PLC Issue of Equity to BHP
17/10/2018	07:48	ALNCF	Alliance News Flash Headline
17/10/2018	07:00	UKREG	SolGold PLC Updated Holding of BHP
16/10/2018	11:35	ALNC	IN THE KNOW: SolGold's Cascabel Gets Backing From Another Big Miner
16/10/2018	07:01	UKREG	SolGold PLC SolGold Raises £45m at 45p per share from BHP
16/10/2018	06:30	ALNC	TOP NEWS: BHP Billiton Puts GBP45 Million Into Miner SolGold (ALLISS)
15/10/2018	23:46	DJN	BHP Billiton Raises Stake in Copper Explorer SolGold
11/10/2018	07:00	UKREG	SolGold PLC Exercise of Options
05/10/2018	10:34	ALNC	SolGold Confident Latest Drilling Can Add To Alpala Resource Estimate
05/10/2018	07:00	UKREG	SolGold PLC Cascabel Exploration Update-MRE Revision Dec 2018

More SolGold News

SolGold Takeover Rumours

SolGold (SOLG) Share Charts

1 Year SolGold Chart

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SolGold (SOLG) Discussions and Chat

SolGold Forums and Chat

Date	Time	Title	Posts
19/10/2018	15:09	SOLOMON GOLD: EXPLORING 100% OWNED SITES FOR 40M+ OZ AU; JV WITH NEWMONT MINING	13,582
20/9/2018	01:07	Solomon Gold - diversified explorer on three continents	15
25/8/2018	07:22	solg realists	1
26/1/2018	20:49	Solgold takeover of Cornerstone	11
13/10/2016	19:00	Solg intersects monster copper-gold system	8

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SolGold (SOLG) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
15:38:56	40.85	500	204.25	O
15:38:56	40.85	500	204.25	O
15:38:56	40.89	500	204.47	O
15:38:56	40.89	500	204.47	O
15:36:27	41.40	1,683	696.76	O

View all SolGold trades in real-time

SolGold (SOLG) Top Chat Posts

Date	Subject
19/10/2018 09:20	SolGold Daily Update: SolGold is listed in the Mining sector of the London Stock Exchange with ticker SOLG. The last closing price for SolGold was 41.20p. SolGold has a 4 week average price of 29.80p and a 12 week average price of 20.50p. The 1 year high share price is 45.05p while the 1 year low share price is currently 19.76p. There are currently 1,716,387,454 shares in issue and the average daily traded volume is 4,979,227 shares. The market capitalisation of SolGold is £710,584,405.96. Read Full Thread Reply
16/10/2018 19:06	whites123: Last time I posted was when a few here were shouting about a fundraising decimating the share price Heck it looked like something walked it down and now as it has become abundantly clear it was absolutely nothing more than PI trades.. We knew BHP were here and we KNOW they have not finished. It was right and proper that SOLG provided BHP with the incentive they have done.. And incentive it is.. Because (And this seems to have escaped peoples attention) BHP will see there 6% stake acquired at 45p per share as a BARGAIN.. They will see the purchase as essentially a discount to the fairer value. Remember those who shout 30% discount to prevailing share price for fundraising etc, well BHP paying 45p is not seen by them as paying a premium, oh no, it is a discount.. They would never in a million years have been able to acquire the amount they did today on the open market. They want a member on the board of SOLG.. They have plans.. I said many months ago I was here for the £2.00 Solgold share price... The fact BHP have been keen to strike so quickly after obtaining their first 5% is making me reconsider that now and maybe re-evaluating it upwards.. £100 Million, £500 Millions, are peanuts to BHP.. Its a bit like people saying "I wouldn't get out of bed for that". This really really should be A £1.00 all day long with what we currently know and people should be complaining and saying BHP have been gifted shares at 50% of current share price, because one thing is absolute certain, that is what the Board of BHP will be feeling like they have done.. Read Full Thread Follow Reply
16/10/2018 14:16	pob69: Upate from Dutch based Commodity Development Fund's CIO Willem Middelkoop, whose largest holding is $SOLG $SOLG.L #ecuador $CGP CEO Nick Mather makes next move in the SolGold chessgame After BHP Billiton announced it had taken a 6% interest in SolGold because of the enormous potential of copper/gold discovery in Ecuador, last month, it was announced yesterday that the world’s largest miner has almost doubled its position. Noteworthy is that last month’s transaction was executed at a share price of 26.5p, and now, a little over a month later, BHP is prepared to add at 45p. This is also almost 30% higher than the price of yesterday’s close. With this transaction, the major BHP corporation voluntarily subjects itself to a number of fairly stringent provisions drawn up by the much smaller SolGold. For example, BHP may not expand its share in SolGold without permission, and can therefore only make a takeover bid if SolGold management agrees. On the one hand, this unfortunately makes a bidding war more unlikely, whilst on the other hand making a future takeover (at a higher price) much more of a certainty. We have calculated that CEO Nick Mather controls 55% of SolGold, either directly or indirectly. We find it very unlikely that he will consider the current valuation of the company a proper reflection of the true value of what is in the ground, given the size and strategic importance of the deposit, and especially given the potential for further expansion. At 45p, BHP is putting strong support under the share price, diluting the largest single block of shares over which Mather has no control from approx. 22.5% to approx. 20.5% (the direct and indirect interest of Cornerstone). With the expansion of shares by BHP, it is becoming increasingly difficult for a third party to make a hostile takeover. This would certainly have to be with the cooperation of Cornerstone, but even then you would not get enough shares without Mather’s consent. He is in control of SolGold’s destiny, confirming once again to be a good chess player. Why would BHP not take over SolGold outright? SolGold will probably be much more expensive at a later date as the project is further developed. BHP is a financial heavyweight, and is likely to have much more interest in a project that has been largely de-risked. With the forthcoming update of the resource estimate (size of the deposit), SolGold expects a strong expansion. The PEA (economic study) expected later this year will also provide a first insight into the feasibility of the copper/gold project. These are valuable risk-controlling milestones for the major producers. And given the concessions that BHP had to make to acquire these latest shares, the urge to get a position in one of the most significant new copper projects is much greater than any additional costs that would be incurred with making a bid at a later time. hTTps://www.cdfund.com/en/ceo-nick-mather-makes-next-move-in-the-solgold-chessgame/ Read Full Thread Follow Reply
16/10/2018 13:53	mirabeau: SolGold Plc Great White Shark Takes Another Bite Impact: Very Positive BHP makes a statement by increasing its stake in SolGold at a premium. BHP Billiton (ASX:BHP; LON:BLT) has increased its stake to 11% and has provided a good portion of the funds required for SolGold’s 2019 exploration program. This should lift any perceived financing overhang and opens the door to a valuation rerating. With copper fundamentals improving and few large-scale undeveloped projects available (Figure 1), we expect Alpala to be coveted by major miners looking to bolster future production. Highlights: BHP’s second investment should act like blood in the water with other majors circling this world class asset. BHP Billiton (ASX:BHP; LON:BLT), the world’s biggest miner, purchased 100M shares at £0.45/sh (C$0.77/sh), a 30% premium to the 20 day VWAP. BHP is now at 11.2% or 203M shares (was 6% or 103M shares), putting it just behind Newcrest Mining (ASX:NCM) currently holding 14.5% (247M shares) (Figure 2). We believe Alpala is one of the few large-scale copper assets available (Figure 1); thus, it is likely other large mining companies noticed the feeding frenzy. Multiple strategic investors create competitive tension. With two strategic shareholders over 10%, we expect that a takeout is most likely to occur at a premium to historic transactions. We note that copper projects historically sell for, ~US$0.07/lb CuEq and BHP’s investment implies a value of ~US$0.065/lb CuEq (pre-material resource update). Exploration upside on an already world-class deposit is attracting attention. The current resource of 16.18Blb CuEq, is based on 53,616m of drilling. The updated resource estimate expected in Q4/18 is expected to include an additional 70,400m of drilling; which we believe should grow the resource materially. Valuation: Valuation neither reflects likely resource growth nor competitive tension on a take-out. SolGold trades at US$0.050/lb (pre-resource update) versus peers at US$0.037/lb CuEq (Figure 3). In our view, the upcoming resource growth and the strategic interest in the project should warrant a share price re-rating given that the company is largely funded for 2019 exploration efforts. Upcoming catalysts: 1) Ongoing exploration and 2) Resource update (Q4/18). HTTP://www.redcloudks.com/companies/solgold-plc Read Full Thread Follow Reply
28/9/2018 15:05	pob69: SolGold CEO: "High grades deliver independence" $SOLG.L $SOLG $CGP #ecuador High copper and gold grades of the Alpala deposit are providing dual-listed SolGold with a level of independence in the development of the larger Cascabel project, in Ecuador, CEO Nicholas Mather said on Friday. Responding to critics saying that Brisbane-based SolGold is too small to fund a project the size of Cascabal, he said in the company’s annual report, that the “extraordinary” high grades in the core of Alpala and the expected high grades in the nearby Blanca gold project would enable a “low capital, quick, highly profitable development”, which would provide “much of the capital required” for the Cascabel development. “We are working on a conditional total funding package, which involves agreement of the funding parameters with financiers and offtakers now, at prearranged prices related to the net present value (NPV), rather than the share price and conditional only on the delivery of firstly, a feasibility study, secondly, appropriate permits, and thirdly, the necessary fiscal arrangements with the Ecuadorian government. That way the market and the industry will be able to see that the project is substantially derisked from an early stage,” Mather said. SolGold is looking at starting in very high grades and gradually ramping up into a 40-million-tonne-a-year block cave at the high grade core grades of 1.5% copper equivalent. The February 2018 mineral resource estimate for the Alpala deposit comprised 430-million tonnes at 0.8% copper equivalent in the indicated category and 650-million tonnes at 0.6% copper equivalent in the inferred category. However, the size of the deposit continued to expand with the completion of “nearly every drill hole”. Recent drilling confirmed the core of the deposit to have uninterrupted true dimension of up to 750 m vertically, 700 m long and 300 m wide, at a cutoff grade of 1.5% copper equivalent. SolGold has a target of 10-million tonnes of copper and 25-million ounces of gold in the next mineral resource estimate, scheduled for December this year. This could deliver an NPV of more than $4-billion and an internal rate of return of more than 25% for a 40-million-tonne-a-year block cave mine. SolGold will follow up the second mineral resource update with a maiden preliminary economic assessment in January, followed by detailed feasibility studies in the resource evaluation, mine planning, process design and plant design, capital and operating cost estimates, environmental and community engagement in 2019. “We expected to spend 2020 on permitting, final feasibility, financing and fiscal negotiations with a plan to get to a development decision by calendar-end 2020,” Mather stated. Commenting on BHP Billiton’s $35-million acquisition of a 6.1% stake in SolGold, he said the junior was “obviously happy” to have its project, the copper market and management team endorsed by the global miner. “I’m assuming that is just for starters,” the junior firm’s CEO said. Since BHP’s investment in SolGold, the junior’s share price has advanced about 80% on both the London and Toronto exchanges. Australian gold miner Newcrest is the top shareholder in SolGold with a 14.54% stake. hTTp://www.miningweekly.com/article/solgold-ceo-high-grades-deliver-independence-2018-09-28 0 Read Full Thread Follow Reply
19/3/2018 11:47	pecker1: Mrpiggy, I would not want to argue with your gut but think it would be premature for Solg to engage in M&A: we are on the eve of Aquinaga drilling and confirming if Alpala stretches to Trivino and Moran. And they have yet to locate the rich core of Alpala they say is there, nor have they put a drill in Tandaya-america which looks very promising. That said, the Cascabel project will soon be moving into more of an exploration and development phase. I doubt the Solg share price is getting any value from its other Ecuador exploration activities. So it could make sense to follow Cornerstone's example and hive off the Ecuador activities outside Cascabel and those in Australia and the Pacific Islands into a separate exploration company, with solg keeping say a 35% stake. Those hoping for a repeat ten bagger could be attracted by the much smaller market cap and huge upside potential.As an existing solg shareholder, I would expect to be given a slice of new company shares in proportion to my Solg holding. Read Full Thread Follow Reply
27/1/2018 12:38	onedayrodders: hTTps://investomania.co.uk/2018/01/solgold-plc-upside-potential-kaz-minerals-plc-glencore-plc-anglo-american-plc-exploration-update/ " SolGold plc (LON:SOLG) (SOLG.L) has released an exploration update today regarding its Cascabel Project in Northern Ecuador. There are now 12 rigs onsite and operational at Alpala. There has been an additional 13,384 metres of drilling completed since the release of the Alpala Maiden Mineral Resource Estimate cut off, which was published on 3 January 2018. Over the next year, the company anticipates that over 120,000 metres of drilling will be completed. In this regard, the company notes that it is encouraging that the new track-mounted rigs are already performing beyond expectations. They have delivered up to 60 metres per day each. The cost of drilling has fallen from $1,100 per metre to $530 per metre. This could mean the cost of drilling is less than may have been previously expected. SolGold is focused on significantly increasing upon the maiden resource at Alpala. With the bornite rich areas at Alpala South yet to be comprehensively tested, the company believes it could find a deep, rich root at Alpala. In the last year the SolGold share price has fallen 20%. That£s a worse performance than other resources stocks such as KAZ Minerals PLC (LON:KAZ) (KAZ.L), Glencore PLC (LON:GLEN) (GLEN.L) and Anglo American plc (LON:AAL) (AAL.L). KAZ Minerals is up 90%, Glencore has gained 25% and the Anglo American share price has risen 27% during the same one year time period. In my view, SolGold is making encouraging progress with its drilling programme. Although the nature of its activities is risky and highly uncertain, I believe the company could be able to deliver improved share price performance. I£m upbeat about the prospects for the gold price over the medium term and feel this could provide the stock with a tailwind in future. While potentially volatile, I feel its share price performance could improve relative to sector peers." Read Full Thread Follow Reply
29/9/2017 06:42	temmujin: off topic..get yourself another 50 bagger RKBeekeeper Investment Case: Zanaga Iron Ore Company (ZIOC) Wednesday, Sep 06 2017 by Ash Deans 0 comments 3 Every now and then I come across a share that I was not expecting to find and that I’ve never heard anything about before, this is a classic example of one of those shares. Yesterday Zanaga Iron Ore Company popped up on my radar due to a very strange action in the share price and some very large trades moving through a stock that typically sees very few trades per day. This much un-loved stock may actually prove to be one of AIMs biggest movers this year! Let’s start with the fundementals Shares in issue: 279m Free Float: Approx: 75m (27%) Current MCap: £17m 52 Week High: 212p 52 Week Low: 4.6p All-time High: 212p (No dilution since this high!) All-time Low: 1.35p Cash in Bank: Approx $4.5m Zanaga Project Details The bare fact is that the company sits with a mineral resource situated in the Republic of Congo that is one of the world’s largest with up to 6.9bn tonnes and of which 2.1bn is iron ore at a 66% fe. These figures have been produced in compliance with the key JORC code and the iron ore NPV (after financing and net of production and transportation) has been valued at anywhere up to $966m net to ZIOC based upon the current iron price of approx $55/tonne. (If the price of Iron Ore moves back closer to the $80 range then this puts the value up to $1.4bn!!) The project is a 50/50 collaboration with Glencore ($40bn Mcap), with Glencore hold 1 share more than Zanaga to give them control of the project. Zanaga management have been playing the long game this last two years, steadily progressing the project through, in the most important instance, the ratification of its Mining Convention and the lodging of the Environmental Permit that is now VERY OVERDUE and that will be another potential major milestone in the progress towards exploitation of this world class ore resource. Next Catalyst This project is waiting on the Environmental Permit to be obtained, this was expected at the end of the 2016 fiscal year which means it is now several months overdue and can land any day now! Once the permit has been agreed this could spark a chain of events that will send this share price on a crazy journey. With the permit in place I would expect ZIOC to look at selling their stake in the project and due to Glencore’s huge success over the past couple of years they are now in a cash rich position and according to their chairman they are looking to buy out projects that they already have a stake in. “We are looking for opportunities around,” he said, adding Glencore was particularly interested in assets where it already had stakes or partnerships. This would put ZIOC firmly on their radar, the only outstanding issue being the Environmental Permit which should land very soon. My View: What happens next Based on my research I strongly believe that once the Environmental Permit has been obtained ZIOC will look to sell their half of the project, either to their partner Glencore or to another party, potentially a Chinese interest as there have been rumours of interest from China in the past. This is backed up by the share transfer announced on the 3rd April 2017, which I believe was to get everything ready for the sale of the asset. I also see the directors holding a huge percentage of the shares in issue here which is a sign of confidence in my mind that they know what is coming. It would not surprise me if the deal is already in place and the permit being obtained is the catalyst to finalise it. In regards to the price for the sale of the asset, based on it being one of the world’s leading iron ore assets I would be surprised if it were to sell for less than $100m (fire sale price), with my estimate being somewhere between $200m-$300m. When you compare this to the current Mcap of £17m you can see the huge value here! The Mcap appears to only be this low as it is so far off people’s radars at the moment and the overdue nature of the Environmental Permit. Downsides? Are there any risks here? Of course, as with all shares there is a potential risk here that there will be further delay in the Environmental Permit, or that it might not be granted. However, given that all other permits and licenses have been obtained I see this as extremely unlikely. The risk to reward here is huge in my mind. Very low risk, massive reward. Targets The movement in the share price here is going to be driven by the Environmental Permit being obtained… On that news I would expect the share price to move to around 50p per share (600%+ Rise) I would then expect the share price to continue to rise up to the point of the asset sale, which would likely be over £1 per share (1300%+ Rise) Due to the Very Low free float in this share it moves incredibly quickly which will make it very difficult to by once the RNS lands so this is one you want to be in before the news lands. If you wish to check the figures here in this post then I suggest you take a look at the most recent investor presentation here to get an understanding of the size of this asset: hxxp://www.zanagairon.com/pdfs/ZIOC-Investor-Presentation_21-Sept-2016.pdf The share price at the time of writing this post was 6.125p Note: I have emailed the company to obtain answers to a couple of outstanding questions. I will update this post once I get a reply. Read Full Thread Follow Reply
26/7/2017 10:39	pecker1: Back in 2012, the HUI gold stocks index was over 500 compared to the 190 of today. Copper too is way down from its peaks. Fast forward 2/3 years to what the gold price might be in a debt saturated world in which China (biggest gold producer) has continued to challenge the supremacy of the US $ and the electric car sales chart is going parabolic. If this scenario plays out I can see a solg share price of at least £1 based on what they have discovered so far at Alpala. Success at Aguinaga and say one more of their prospects should lead to £2 or £3. This is what happens with great exploration stories. P.S. and it is very sensible to top slice on the way up to bank profits! Read Full Thread Follow Reply
15/7/2017 16:13	jlondon: "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 https://twitter.com/SolGold_plc (2)Institutional Top Holders -HOLD 22.75% of Solgold shares Source: https://markets.ft.com/data/equities/tearsheet/profile?s=SOLG:LSE&mhq5j=e1 [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% Read Full Thread Follow Reply
11/11/2016 14:00	jlondon: TAKEOVER OF SOLGOLD? Ref:"Solgold not ruling out potential takeover by BHP."-Market Intelligence share price Global.com. Wed 9 Nov 2016 [Billthebank of Advfn posted the full article which was by Padmaster, post 9309 dated 10 Nov 2016 The said article said that "Solgold is expecting BHP Billiton to make another play. Nicholas Mather stated:"Solgold would consider a takeover from BHP Billiton if the price was right." [Mather did qualify that he could not speculate] "Ecuadorian Mining Minister Javier Cordova told SNL, Nov 8, 2016 that BHP was still looing at Cascabel and he was certain that the mining heavyweight would have another go at trying to acquire a stake in the project." "BHP offered $30m for a 10% stake in Solgold & US$275m to acquire the cos 85% interest in ENSA." Observation: It appears due process that BHP would have to sound the Mining Minister re:Cascabel for obvious reasons. {In my previous post no: 8804, 30 Sep 2016 I cited the takeover of Orbis Gold [DGR Global, parent to Orbis Gold, Solgold etc]. Semafao, the Canadian miner made a takeover offer on Oct 12 2014 but rejected. Later,Semafao made another bid and accepted on 10 Feb 2015.It was stated that "Semafaos proposal was made prematurely ahead of the cos release of the update with knowledge that the update was imminent." Re:Updating scoping study following estimated resource estimate in Aug 2014.} #Gold Solgolds RNS of 10 Oct 2016 [8:29am]:"Investment proposal from BHP." However, this original RNS states that it is to acquire 70% out of Solgolds 85% interest in ENSA. So, there may have been an error in the said article ie it is 70% not 85%. [12 Oct 2016 -"Analyst expects MORE NEGOTIATIONS between Solgold & BHP Billington"-Proactive Investors -Video Interview with share price Angel"] So, BHP did NOT want to take over Solgold but rather Solgolds 70% of ENSA out of 85% which owns Cascabel, Ecuador license? The reason is obvious. "Lottohopes" on 8 Nov 2016 at 13:39 posted:" 10% of Solgold gives BHP 8.5% of ENSA. Add in Solg owns 11% of Cornerstone Resources which in turn owns 15% of ENSA. Thats 1.5% appox. And the cash ..it is to outright own 70% of ENSA which would give BHP 70%+8.5%+1.5%=80% of ENSA. So IMHO would have been a buyout of the project." [Qualified that this is not my calculations but interesting] MERGERS & ACQUISITIONS Recent M & A appears to be "Zijins $412m Kamoa investment boosts Ivanhoes coffers." www.miningweekly.com 9 Dec 2015 [Google title to read]. Ivanhoe sold its 49.5% stake in Kamoa for $412m. So 100% would equate to US$832m [simple school maths of reverse proportions]. #Copper [£660m at today exchange rate of £1=US$1.26] So just to see what the M & A was last although size also has to be looked at. BHP TOTAL OFFER for Solgold -10 Oct 2016 Solg RNS A/c to the said RNS, the total package was for about US$305m [$30m+$275m-see details]. Today, Fri, 11 Nov 2016, Solgolds share price is around 27 pence, market capitalisation £385million. [1,428m shares in issue approx] Rate of exchange today is £1=US$1.26 So, how much would Nicholas Mather consider to be the right price? J. London Fri, 11 Nov 2016 [Please check as there can be errors] On Twitter, the said article was first tweeted by AmberMining@AmberMining on 8 Nov 2016 via the tweet: "Rumours that BHP Billington could have another go at securing a stake in Solgolds Cascabel #copper-gold project in Ecuador ow.ly/3cH0305YnKZ." The timeline on AmerMinings Twitter:"Strategic Mining Analyst at EY with an interest in copper, coal..." However, the link given by AmberMining is a gateway to sign in at SNL Platform, S & P Global, Market Intelligence]. S & P Global on Twitter has a blue "VERIFIED" symbol. Padmaster*s link gave the subject title to the same said article and details of last night, Thur 10 Nov 2016. [P.S On Twitter, the takeover offer by BHP was not well understood, hence post is rather long to give a historical overview] Read Full Thread Follow Reply

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