Thanks but I'm not surprised to cop sheet. I know full well I make a target of myself everywhere post with an opinionated, no apologies style... and cop sheet because of it. I enjoy the challenge, the sheet and defending my opinions, I'm enjoying this little set-up we have today. FWIW just because I make strong calls based on sound logic that might be disappointing to holders doesn;t make me negative. I was thumbed up for a long time when my calls were 'positive', when really I was just calling it as i saw it back then also. The facts and outlooked changed, not my posting style. Says more about others fragile egos that they can't handle rigorous debate than it says about mine but whatever...
Everyone agrees Nord's were happy to stop a $1, no problem. Others disagree with me that SG didn;t really want to go much higher and fight Nord to a much more expensive draw if Nord were going to just keep tagging along. It looked very unlikley that a credible bidder would unshackle the bidders, the market agreed with me at $1.01 on low volumes.
The only thing we know for sure today is that a Ghanaian bidder has popped up with a suspicious offer that includes 50.1% acceptance condition, and a price that SG are obliged by law to match within 3 days. Given the circumstances and CDV boards Ghana contacts, it looks very much like a prop bid arranged to free SG to bid higher... probably no more. It tells us absolutely nothing about SG's actual plans or final offer price. SG could not have known when they went B&F that Mr Ghana would come in from left field and undo the stalemate, it simply couldn;t have been part of their plans.
My point shouldn't be lost on friends or foes alike. Until we see what SG does over the next couple of weeks we actually don;t know if they want to aggressively chase sole control, or are happy to settle for a draw at a slightly higher price? Posters calling out that SG will now go hard and high have no basis of support, I hope they do, though their guess is as valid as mine. Again, it just looks too early to proclaim me wrong just because the board pulled a Ghanaian rabbit out of the hat at the last minute....
Good luck, I'm always happy to be proven wrong with much higher bids
CDV Price at posting:
$1.07 Sentiment: None Disclosure: Held
