Hi all,
I would loved to have been a fly on the kitchen wall at NM's place as he coughed up his Weet-Bix...Twice!
3 weeks ago I postulated....
"There's also Maxit Capital and a few other Canadian HNW's who speak for about 119m SOLG (7.89%) who, one would think, would be more inclined to pitch in with any Canadian contender in a battle Vs NM Vs NCM Vs ??
Any way you look at it, players are now picking and boosting their corners for the pending showdown."
Well...2 of those HNWs have now jumped the SOLG ship and swapped their shares to join the mutinous pup Cornerstone, giving it now 11.8% of SOLG, thereby the final say in any compulsory takeover of SOLG.
This has got to be one of the best corporate games going in the resource world today. 3 weeks ago, NM was sitting pretty confident he could easily navigate, steer and command the SOLG ship into a competitive bidding contest among the world's major minors. He also probably thought he could help deliver up 15% project partner, Cornerstone.
Yep...3 weeks ago, Cornerstone were the harmless, subservient minority partner. Now they have the final corporate say in any $B++ SOLG T/O!
Truly amazing! The tables have turned considerably and NM's status as sole destiny captain has been shaken. But to quote the Carpenters..." Its only just begun..."
Cornerstone's main game is now banking on a premium T/O of SOLG...and soon. There's no way this cash poor junior can sweat A$100m (based on 37p) worth of SOLG stock for long. It can and probably will annoy the hell out of NM, physically or threatening to sell stock or suppress the price. It does, after all, now have a spare 1.8% (27m shares) to play with before they go below their all important 10% level.
All of this will spur NM to amp up plan B, C and D.
Plan B could be taking out Cornerstone. This has become substantially more difficult given that a whole lot of new major shareholders have diluted SOLG's holding.
Plan C could involve selling a major direct interest in the Cascabel holding coy..or directly into the project if the holding coy deeds allow so.
Plan D, (and this is most likely), something out of left field; some completely insane corporate sh*t that only someone like NM would dare think up let alone can pull off.
This'll be one of the decades best EVA corporate suspense plays!
Cheers,
PS....DGR wins.
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Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $12.52M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.2¢ | $2.274K | 189.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 1843000 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 150000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 1843000 | 0.011 |
3 | 1850000 | 0.010 |
5 | 919667 | 0.009 |
2 | 260000 | 0.008 |
1 | 200000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 150000 | 1 |
0.014 | 268000 | 1 |
0.015 | 600000 | 2 |
0.016 | 600000 | 2 |
0.017 | 1120000 | 2 |
Last trade - 15.43pm 30/08/2024 (20 minute delay) ? |
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