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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 |
Date | Subject | Author | Discuss |
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13/7/2017 09:10 | 3/07/2017 10:04am UK Regulatory (RNS & others) SolGold (LSE:SOLG) Intraday Stock Chart Today : Thursday 13 July 2017 Click Here for more SolGold Charts. TIDMSOLG RNS Number : 9710K SolGold PLC 13 July 2017 13 July 2017 SolGold Plc ("SolGold" or the "Company") SolGold to Commence Trading on the TSX The Board of SolGold plc ("SolGold" or the "Company") wishes to advise that SolGold will commence trading on the Toronto Stock Exchange at market open, Friday 14(th) July 2017. The Toronto Stock Exchange ("TSX") is generally regarded as the primary Canadian market for equities and has a high concentration of resources companies. The TSX is a robust market with liquidity and access to capital, particularly for the mining sector with participation from over 200 Canadian institutional mining investors and over 500 international institutional mining investors. The TSX/TSXV is the #1 public market for mining companies globally with 1,216 public listings with combined market capitalization of over C$297 billion and coverage by more than 200 mining analysts. In 2016, the TSX/TSXV accounted for 57% of all equity capital raised in the mining sector, making it the top source of investment for mining companies globally. This has been a long anticipated event for the SolGold Board, the Company's shareholders and interested investors, and the Board looks forward to continuing and sharing the Company's success. SolGold's TSX ticker will be the same as on the AIM market, being SOLG. SolGold CEO Nick Mather said: "the SolGold Board wishes to thank the various advisors, shareholders and experts in the UK, Canada, Ecuador and Australia who have contributed to the process leading up to the TSX listing, in particular Bennett Jones LLP and Maxit Capital. The SolGold management and Board looks forward to presenting SolGold to Canadian capital markets in the years to come as the Company progresses the exciting Cascabel Copper Gold Porphyry Project, in which SolGold has an 85 percent registered and economic interest through its 85% ownership of Explorationes Novamining SA (ENSA), and a growing portfolio of 100% owned exploration projects throughout Ecuador, targeting up to 22 other copper gold porphyry projects in four other wholly owned subsidiaries. Ecuador is arguably the world's most under explored copper gold province and the extraordinary dedication by the Government to allow the development of a mining industry in Ecuador provides SolGold with an unprecedented opportunity to develop a copper gold company of global importance. SolGold expects to direct its considerable and accomplished technical team and financial resources to accomplishment of this goal and the TSX listing is an important element, providing access to our growth strategies to new and existing investors and shareholders." Shareholders and stockbrokers seeking information on how to manage their holdings and how to move stock from the UK to Canada are referred to the information contained on the Company's website as follows: By order of the Board Karl Schlobohm | filterwest | |
12/7/2017 08:56 | acc to bloomberg data Warren has 57,065,254 shares in SOLG. that right ? Good post above by the way 10629 | brahmsnliszt | |
12/7/2017 07:50 | Bookvan, the post below is from CEO.CA SOLG page dated 21 June by a poster called 'Pamplona Trader'. Obviously,I can't vouch for his reliability but it IS interesting. IMHO an issue people in this country have about CGP is they think it's a faff to buy shares. However, it's easy as pie through HL. The way I look at it is if you want a quick buck at the earliest it's probably a good idea to hold some CGP. On the other hand if you want to be invested for build and production SOLG has a longer term future. That's just my way of looking at it and I could be spouting a load of rubbish. Here's the link to CEO.CA SOLG page by the way: hxxps://ceo.ca/solg. START OF THE POST ON CEO CA: "@PamplonaTrader @robo the only thing Warren would confirm is that he has lost faith in $SOLG.L management and that he doesn't agree with their strategy of gradually selling to $NCM.AX and at a discount. He also says Brooke has a like mind and understands how to create value for $CGP. I think there is alot more to this story and on both sides. In my view, Mather has been playing a bit of defense since spurning $BHP in favor of $NCM.AX. In the UK, disclosure rules require reporting when more than 3% of the company is acquired. In Canada, that threshold is much higher at 10%. Perhaps the reason $SOLG.L delayed TSX listing was to prevent $BHP or one of the other majors from sneaking up on them. I think maybe there is a reason why they are pursuing TSX listing only after $NCM.AX (who is required to align itself with $SOLG.L's BoD) established a 14.54% toehold on $SOLG.L. Now that $SOLG.L has consolidated control of its share registry and its balance sheet well capitalized, they could have it in their minds to play some offense. I think it's time they go after $CGP to consolidate control of Cascabel and also their presence in Ecuador. On the other side, I think Warren and Brooke made a brilliant move. $CGP needed to recapitalize the balance sheet and they also needed a stronger shareholder base. Brooke achieved both these things AND increased our exposure to Cascabel via 5% shareholding in $SOLG.L. $CGP is now even more enticing to a major like $BHP. By acquiring $CGP, they can elbow their way into Cascabel. Instead of showing their hand after accumulating just 3% of $SOLG.L, they can grab ~19% economic interest in Cascabel in one move by taking out $CGP. As for Warren... this move was a masterstroke! Having gotten sick and tired of Mather shrugging him off, I think he positioned himself in $CGP to get the attention of the $SOLG.L BoD. $SOLG.L would be stupid not to take out $CGP and consolidate ownership of Cascabel... and when they do, they will have to offer Warren a seat on their Board. Genius!" END OF THE POST ON CEO CA | herbert howells | |
11/7/2017 23:17 | When we finally get to list on the TSX I'm sure the company will clearly lay out it's prospects and assets to the Toronto market. I'm sure that market will swiftly decide the value it places on the business and its prospects. Newcrest evidently think they have a bargain at 41p, I'm sure they are right since they are actually in this line of business, it's their bread and butter. Plainly the business politics in the mining game are devious and no holds barred, NM will be familiar with the game, he won't want to be robbed of this prize asset. | lefrene | |
11/7/2017 21:37 | We are in no man's land. You will have to decide do you hold or do you sell. Make the decision but please don't subject us to same bb talk. Much more so on Lse. We are not privy to what goes onbehind the scenes.Think all holders are feeling little unsettled. | mam fach | |
11/7/2017 19:11 | I think BHP's cheeky cheap bid for SOLG is enough for me to know I'm in the right place. | onedayrodders | |
11/7/2017 16:32 | Sometimes a 100 posts a day on LSE and the whole lot can be boiled down to a single sentence: 'SOLG is a great investment because Cascabel is a huge discovery'. But 'because Cascabel is a huge discovery' does not really answer the question 'is SOLG a great investment?' or is SOLG the best investment for right now. Cascabel is a huge discovery - that's not in question - but it doesn't mean that being invested in SOLG right now is the best way for the likes of us to make money. Thinking about the question 'What is the best means to make money right now from being invested in Cascabel?' there's not a single reason I can think of to hold SOLG rather than CGP. Is there one? | bookvan | |
11/7/2017 08:18 | We do need NM walking the talk on these listings. Going from very dodgy AIM to a respectable market will improve the credibility of Solg and hopefully give a lift to the price as we fall into the remit of institutions. | lefrene | |
10/7/2017 18:51 | Lefrene .. I think we actually need the TSX buyers now to shift us out this new 35-40p range. So roll on opening week. | onedayrodders | |
10/7/2017 18:51 | Lefrene .. I think we actually need the TSX buyers now to shift us out this new 35-40p range. So roll on opening week. | onedayrodders | |
10/7/2017 15:50 | Indeed I bought back in again..... | ragewarrior | |
10/7/2017 15:31 | With that TSX listing supposedly this week you'd think there might be a bit of buying interest? Or at a market cap of £564 million, is it all already in the price? | lefrene | |
09/7/2017 09:44 | Noccer, didn't those fools at Bre-X Minerals know about AIM? Just about everything is a pile of over hyped dirt salted with lies! They would probably still be drawing directors salaries and on their 10th rights issue by now :¬). | lefrene | |
09/7/2017 09:34 | Maybe they will release a preliminary resource report based on what they know so far, with the open at depth, open to the SE, etc wording to indicate they haven't defined the extent of it yet. The TSX listing rules look to me like something certified as NI 43-101 compliant has to be submitted. The rules were put in place after a scandal in 1997 in which a $6billion company (Bre-X Minerals) collapsed after it was found it had duped investors by salting ore samples with gold dust. Its a story worth reading if you have a dull moment. Before people invest they want to know the value in the ground justifies it - that certainly shouldn't be a problem here. Anyway, we will find out soon. Looking forward to the coming week. | noccer | |
09/7/2017 07:01 | Thanks for the link, lefrene. Sorry about the delay getting back to you. | bookvan | |
08/7/2017 01:05 | Interesting discussion. | jlondon | |
07/7/2017 23:13 | Great listening Lefrere, all very positive. Thanks for posting. | alwaysevolving | |
07/7/2017 12:02 | Filched from another place, my thanks to BrokeNovice:_ Seems Newcrest is just another investor, and TXS listing expected in a week, so I guess resource statement not a requirement. | lefrene | |
07/7/2017 11:35 | I think the partnership works for both Solg and Newcrest, they each get the expertise of the other but work for their own rewards. Newcrest is a mining expert and Solg a prospecting expert, they can each concentrate on what they do best. Newcrest gets access to a long line of sites to mine, and Solg is less likely to get taken over and robbed of its very prosperous future. We shall see what happens, but it appears to me that if somebody did now want to grab Solg, it would cost them a lot more. | lefrene | |
07/7/2017 11:00 | I don't understand that Newcrest's best interests are served by a continuing minority interest but BHP made a bid for the whole company and the underlying fear is that other companies are waiting to make cheap bids too. Surely the best interests of one large miner is much the same as the best interests of all the others i.e. to get as much ownership and control as possible. | bookvan | |
07/7/2017 10:23 | Could Newcrest raise enough money to out bid others for Solg? I feel that Newcrest's best interests lie in the deal they have with Solg. They get to mine the resource without having to use up capital (or credit) to buy it. Longer term Newcrest get to mine other resources that Solg finds, thus huge future potential rather than access to just one large resource. I think the recent musical chairs has been about making it difficult for a predator to get at the Solg resource on the cheap. Now a predator would have to take Cornerstone and Solg and also buy out Newcrest's interest, a much bigger mouthful than just Solg alone. | lefrene | |
07/7/2017 10:01 | Thanks, lefrene. The thing that I'm thinking about is if the board can't rely on 60% shareholder support then the implication is Newcrest doesn't have to go along with board decisions and the cheap early bid could come from them not somebody else. I could be getting this all wrong. For one thing, it doesn't make sense for the large investors to go to Cornerstone to stop Newcrest having it's own way: surely, the place to block Newcrest would be on the SOLG board or in a shareholder vote? | bookvan | |
07/7/2017 09:47 | I don't see anything sinister in it bookvan, these three businesses have a common interest to hang on to their major asset, they want to jointly protect themselves from an unwanted cheap early bid for Solg (or Cornerstone to get their Solg interest), plainly mining is a dirty game and NM will have seen all the tricks played in his career. They are doing their best to protect shareholders long term interests so that full value can be realised for Solg holders, and not a quick cheap win for the directors of some behemoth. | lefrene | |
07/7/2017 08:51 | Shakester - it's possible SOLG is going the way of MARL after all. See my post on the other board. It could be the recent defections have cost the board the ability to contain Newcrest. I could be completely wrong about it. Would welcome your comments. | bookvan | |
07/7/2017 08:43 | There's something in yesterday's RNS that could be important. If it is nobody seems to have picked up on it. This is from the RNS: "iv) the placement to Newcrest involved an anti-dilution right to maintain a 14.54% interest in SolGold for a period of 12 months from the placement, following which the anti-dilution right would decline to 10%. Newcrest continues to be bound until 30 August 2019 by an obligation to support certain transactions including change of control transactions in SolGold which are recommended by the Board, supported by an independent evaluation, and supported by not less than 60% of the Company's shareholders in acceptances or at a General Meeting of shareholders." It's that last clause that says Newcrest has to support board decisions that are supported by not less than 60% of the company's shareholders. Now the large shareholders have gone to Cornerstone, can the board be sure of 60% support for anything it wants to do? If it can't then doesn't it in effect release Newcrest from it's obligation to act as a friendly neutral and instead pursue its own best interests? Might be completely off-beam about this and would welcome comments from finer minds. | bookvan |
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