Solgold Share Discussion Threads

[mknight] 30/6/2020 16:36

Still sellers gold up copper up silver up .

Only a matter of time .

[greenelf] 30/6/2020 16:30

Sp seems to be sat on heavily by some entity?

[pob69] 30/6/2020 16:29

Warren Irwin and Joe Mazumdar are both on this Mines and Money round-table panel at this event in 30 minutes. I posed a couple of questions a couple of days ago concerning the copper crunch, opportunities for #ecuador and Solgold potential takeover of Cornerstone so let's see if it is referenced SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador

[pob69] 30/6/2020 15:51

FT report Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador

"...Its top shareholder is BHP but under a standstill agreement the Anglo-Australian miner is restricted from buying new shares and going beyond its 13.8 per cent stake until October unless a bid emerges.

BHP’s new chief executive Mike Henry has talked about the need to add more “future-facing” metals such as copper to its portfolio through exploration and deals with junior mining companies.

SolGold’s other main shareholder is Newcrest Mining, one of the world’s largest gold producers. It owns a 13.7 per cent stake but has grown frustrated with the way Mr Mather is financing the project and recently removed its representative from the SolGold board. "

[greenelf] 30/6/2020 15:44

Meanwhile, gold has just popped above $1880..that must be sharpening a lot of minds in various boardrooms..

[rougepierre] 30/6/2020 15:36

Is Newcrest no longer interested...?

This is significant...especially depending on who buys Newcrest's stake, because they seem no longer interested...

Sandeep Biswas gave a detailed presentation to a Bank of America Mining conference on 12 May 2020...BEFORE the placing in June...there is not a single mention of Solgold anywhere, except in a tiny flag on the global map...

Page 12 implies that they do not see a future for their investment in Solgold, because it sums up "Our operating assets, advanced projects and investments"...with no mention of Solgold...

hxxps://www.newcrest.com/sites/default/files/2020-05/200512_BAML%20Conference%20-%20Briefing%20Book.pdf

Again..my money is on Barrick...they failed to buy Newmont, but Solgold is much smaller and more vulnerable...

AIMHO as usual...

[lowtrawler] 30/6/2020 15:18

Ok, we have CGP in play, Newcrest are now able to be hostile, FNV are about to have a foot in the door, BHP can only become hostile in October which happens to be when CGP and the new shareholders are in the open. The October timeframe coincides with the PFS and we should also have some drill results by then.All hell could break loose between now and then. It seems highly unlikely that we will reach the end of 2020 without some form of hostile bid for SOLG.

[rougepierre] 30/6/2020 15:05

Newcrest is aiming to have five tier one orebodies by 2020, which Biswas said was an "aspirational target".

"We're not going to die in a ditch or do something stupid at the end of 2019," he said.

The company already has Cadia, Lihir and Wafi-Golpu, and is hopeful Fruta del Norte and Cascabel are possible fourth and fifth tier one projects.

"We think the potential is there [at Cascabel] for a tier one and that's why we're there and we'll see how that transforms over time," Biswas said.

[rougepierre] 30/6/2020 14:54

From AFR Oct 2018

"Mr Biswas said BHP's swoop justified Newcrest's move onto the SolGold register in 2016, and it was possible for the two companies to cooperate on SolGold's Cascabel asset.

Newcrest boss Sandeep Biswas hopes Solgold has enough copper and gold for his company and BHP.

"If Cascabel develops to the extent we would all like it to, it is going to be a big mine which [requires] a lot of investment capex and what have you, so in relation to developing a mine in the future, there is no question that there can be more than one company accommodated in terms of that development," he said on Friday.

BHP has a strong preference for being the operator of assets it invests in, while SolGold invited Newcrest onto its register in 2016 because it considered Newcrest's skills in block caving would perfectly suit the type of geology present at Cascabel.

Those competing dynamics loom as a potential source of conflict should Newcrest and BHP jointly develop a mine at Cascabel one day, but Mr Biswas said it was way too early for such considerations.

"Our technological advantage in that area in terms of block caving and what we can bring will certainly help in whatever happens in the long term..."

[greenelf] 30/6/2020 14:51

Thanks pob. Like it!

[pob69] 30/6/2020 14:47

The official takeover site

[rougepierre] 30/6/2020 14:37

How about a JV between Barrick and SOLG for Alpala, leaving SOLG free to develop the other tenements...

[goldrush] 30/6/2020 14:36

greenelf

Don't think so as there is hatred between CGP and NM.....Get Newcrest to go for the biggest premium possible....perhaps even 40% .....NM cannot match that....

[greenelf] 30/6/2020 14:29

Strangely, it may in CGPs interest to actually initially accept the offer (subject to a vote), to force counter offers by others into the open??

[fsawatcher] 30/6/2020 14:18

dis aint nicky boy

this citi boys innit

they stitchin up newcrest and bhp but it like a chocolate fireguard innit aginst big wallet bhp

that ppilop green still owe for pensions dunt he

or is dat bhs

or beeeeeaccches all of yas

luv it

[greenelf] 30/6/2020 14:17

What Mackay said last year..(nothing much has changed since then)"McKay sees the deals as an indication that Newcrest is positioning itself for a bid by improving its relationship with Cornerstone. "If I had to make a bet, I would say that Newcrest is the front runner and it may be that Newcrest and BHP will do it as a partnership," he says. "I think something will happen before the end of 2019. We're hoping that another interested player comes in and starts a bidding war."From..Future of Cornerstone Capital Resources: Mining Executive Glen McKay Weighs Inhttp://www.finsmes.com/2019/04/future-of-cornerstone-capital-resources-mining-executive-glen-mckay-weighs-in.html

[lowtrawler] 30/6/2020 14:10

I think Nick is attempting to control the hostile bids to an October timeframe. He's going to have some drill results by then as well as the PFS. This should make us a much more expensive proposition and so help fend off unwelcome suitors.

[goldrush] 30/6/2020 14:01

Over to Newcrest first.....35% premium to acquire CGP and let the fun begin .....joint bid with our friends BHP on the 15th October

[lowtrawler] 30/6/2020 13:59

Everything seems geared towards a tussle in October when BHP are out of purdah, the recent shareholders can trade and now CGP need to show their cards. Will someone jump the gun or will they all play the October date?

[greenelf] 30/6/2020 13:53

If NC have any real interest in Solg now would be the time to move.. aggressive chess play by NM.

[lowtrawler] 30/6/2020 13:53

From the looks of things, the offer has not got the support of CGP management or they would have said so. I suspect it will go unrecommended and therefore likely fail. As I said a couple of days ago, CGP will be gambling on a bid where they can be king makers.

[rougepierre] 30/6/2020 13:46

I'm confident this will be followed by a steady stream of news...

Franco Nevada signoff;

Regular drilling reports, especially from the 'shallow' prospects;

All them making the CGP offer more tasty by the week...especially as the SOLG share price rises steadily...

BHP cannot bid for CGP before Oct 15 unless CGP divests itself of the remainder of its SOLG holding...

So in a way this acts as a SOLG bid defence also...if it comes off SOLG will be even more valuable, but in the meantime the steadily rising SOLG share price means a bid from anyone will have to be higher...

Unless they get in quick...

But as I've said, the first bidder won't win here unless they come in with a 'knockout' bid, or unless they have a significantly higher bid than the opening shot up their sleeve...

Le the auction begin...as I've said, there's a giant game of 'chicken' about to be played out by the major gold, copper and copper/gold players...

Who will win...? Fait vos jeux mes amis...my chips are on Barrick...

AIMHO as usual...