"Cornerstone rejects hostile bid proposal by Solgold."-Fri 8 Mar...

"Cornerstone rejects hostile bid proposal by Solgold."-Fri 8 Mar 2019


In essence:
1) Cornerstone Resources of Canada [CGP] - per their calculations, the offer price should be "in excess of Canadian 89c."

2)CGP cited 45 British pence as the share price paid by BHP for Solgold shares.

3)PEA: "Material."

Comment:
From the Solgold offer of just above Canadian 33-34c approximately, 89c would represent some <200% more.

The current share price of Solgold is 37 British pence, Mkt Cap £688 million. So, appears that there is a discount to the BHP 45p per retail investors. By extension, were Solgold to receive a takeover offer say, then it would be X% of 45p as the benchmark [CGP calculations].

The PEA [Preliminary Economic Assessment] is the most interesting part to come relating to Alpala & Cascabel. Whilst on one forum, a comment that PEA does not make any difference to the share price, it is obvious to the M & A and value models, it is "material."

Solgold gave a presentation at PDAC in Canada and per the latest Solgold presentation of Mar 2019, PEA is due in the Q1, 2019. However, not sure how CGP got the idea that the presentation said Q2,2019.

I won*t quote the figure mentioned by someone who attended PDAC Canada, as that will have to be via an Announcement [ANN] or Regulatory News Service {RNS] but suffice to say, that will be something that investors have waited for.

On 20 Nov 2018, the Solgold Updated MRE [Maiden Resource Estimate] for Alpala, Cascabel, Ecuador is as follows:

"2.050 Billion tonnes @0.6% Cu Equivalent [Cut-Off at 0.2%Cu] in the Indicated Category & 900MT @0.35%Cu Eq [Cut-Off at 0.2% Cu]"

>>>>ALPALA updated MRE across both Indicated and Inferred EQUATES to 2.95 BILLION tonnes @0..52%Cu Eq[15.4Mt Cu Equ] containing 10.9Mt CU copper & 23 MOZ Au gold at 0,2% Cut-Off of which 79% is in the Indicated Category [by metal content].<<<<< www.solgold.com.au

BENCHMARK Peer Group -OYU TOLGOI
"Inferred resources stood at 4 BILLION tonnes graded at 0.56% Cu, 0.27g/t Au & 0.73Cu Eq."
Link: https://www.mining-technology.com/projects/oyu-tolgoi/

Corporate action has started.

PEA is the most exciting news to come for DGR and Solgold investors.

Fri, 8 Mar 2019
Sol1
DYOR. Please check as there can be copying errors.