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BHP

BHP Billiton

$35.36

0.29 (0.83%)

06:18
10/10/16
10/10
06:18
10/10/16
06:18

SolGold: BHP Billiton offer 'not in the best interests' of shareholders

The Board of Directors of SolGold wishes to inform shareholders that SolGold received an investment and earn-in proposal from BHP Billiton on October 8, which includes the following details: An offer by BHP to acquire a 10% interest in SolGold for $30M which implies a share issue price for SolGold of approximately 22c; A right for BHP to appoint a Director to the Board of SolGold; An offer by BHP to earn-in to the Cascabel Project, by spending $275M to acquire 70% of ENSA out of SolGold's 85% interest in Exploraciones Novomining S.A which company currently holds the Cascabel project tenements. The Board of SolGold, after examination of the BHP Proposal and consultation with its legal advisors, has determined the BHP Proposal is NOT in the best interests of SolGold and its shareholders and it is not a superior proposal in comparison to the previously announced $33M financing with Maxit and Newcrest for a number of reasons including, materially: The BHP Proposal is highly conditional, non-binding and subject to due diligence; There is no certainty the BHP Proposal would be consummated on the terms proposed given the number of key documents that would need to be completed: earn-in agreement, private placement, shareholder agreements, etc; Most importantly, the Board considers that when all of the elements of the BHP Proposal are taken into account, the BHP Proposal implies an attributable price paid to SolGold and in respect of the Cascabel Project that is at a significant discount to the current trading price of SolGold and the $33M financing with Maxit and Newcrest.

  • 20

    Oct

BHP BHP Billiton
$35.36

0.29 (0.83%)

08/30/16
ARGS
08/30/16
UPGRADE
ARGS
Buy
BHP Billiton upgraded on commodity outlook, cost cutting at Argus
As noted earlier, Argus upgraded BHP Billiton to Buy from Hold. Analyst John Eade thinks that the company's earnings will be boosted by "stable-to-higher commodity prices" and cost cutting. Target $40.
09/12/16
JPMS
09/12/16
UPGRADE
JPMS
Overweight
Rio Tinto upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Lyndon Fagan upgraded Rio Tinto (RIO) to Overweight saying his firm's higher near-term iron ore price forecasts improve the company's free cash flow outlook. The analyst views the current valuation as attractive and continues to prefer Rio to BHP Billiton (BHP). He upped his price target for Rio shares to A$54 from A$51.
09/20/16
MACQ
09/20/16
UPGRADE
MACQ
Outperform
BHP Billiton upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Alon Olsha upgraded BHP Billiton to Outperform following an increase in coal/manganese forecasts.
09/20/16
09/20/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Betsy Graseck saying shares are trading at a 11 times Price/Earnings for a 3.5% yield, and is one of the "best values" in the S&P 1500 and the sector. 2. Tech Data (TECD) was upgraded to Buy from Hold at Stifel, to Buy from Underperform at CLSA, and to Buy from Neutral at BofA/Merrill. 3. AMD (AMD) upgraded to Market Perform from Underperform at Bernstein. 4. Diamond Offshore (DO) upgraded to Buy from Hold at Evercore ISI with analyst James West saying he believes the offshore rig market will bottom over the next 6-12 months and notes shares are down approximately 42% from its mid-July peak. 5. BHP Billiton (BHP) upgraded to Outperform from Neutral at Macquarie with analyst Alon Olsha citing an increase in coal/manganese forecasts. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

AVP

Avon Products

$4.43

0.18 (4.24%)

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AAPL

Apple

$136.53

-0.58 (-0.42%)

15:21
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Apple expiring ATM straddle is active as shares pin to $136 into the final hour »

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  • 13

    Mar

PPRUY

Kering

$24.38

0.055 (0.23%)

15:19
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Kering management to meet with JPMorgan »

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  • 27

    Feb

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    Feb

$NSD

NASDAQ Market Internals

15:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

15:16
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Technical Analysis
NYSE market internals summary »

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AET

Aetna

$128.69

-1.04 (-0.80%)

15:14
02/24/17
02/24
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Conference/Events
Aetna management to meet with JPMorgan »

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  • 27

    Feb

WMT

Wal-Mart

$72.37

1.055 (1.48%)

, BBY

Best Buy

$45.75

1.435 (3.24%)

15:12
02/24/17
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Periodicals
White House denying Cohn comments on border-adjustment tax, Axios says »

The White House has…

WMT

Wal-Mart

$72.37

1.055 (1.48%)

BBY

Best Buy

$45.75

1.435 (3.24%)

COST

Costco

$175.85

-0.66 (-0.37%)

TGT

Target

$66.59

1.61 (2.48%)

03/08/13
Wedge Partners
03/08/13
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  • 27

    Feb

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    Feb

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    Feb

  • 01

    Mar

  • 06

    Mar

  • 14

    Mar

  • 19

    Mar

  • 28

    Mar

PYPL

PayPal

$42.53

0.11 (0.26%)

15:11
02/24/17
02/24
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15:11
Options
$1M premium seller in Paypal »

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  • 16

    Mar

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    Mar

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    Mar

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    Mar

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    Mar

WSTC

West Corp.

$24.66

-0.09 (-0.36%)

15:09
02/24/17
02/24
15:09
02/24/17
15:09
Conference/Events
West Corp. to host analyst day »

Analyst Day to be held in…

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  • 28

    Feb

FCNCA

First Citizens

$363.85

0.03 (0.01%)

15:07
02/24/17
02/24
15:07
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15:07
Hot Stocks
Breaking Hot Stocks news story on First Citizens »

Vanguard reports 5.5%…

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DLTR

Dollar Tree

$77.57

-0.97 (-1.24%)

15:06
02/24/17
02/24
15:06
02/24/17
15:06
Options
Dollar Tree call volume above normal and directionally bullish »

Bullish option flow…

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  • 01

    Mar

ADRO

Aduro Biotech

$11.15

-0.25 (-2.19%)

15:01
02/24/17
02/24
15:01
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Hot Stocks
Meet Aduro: CEO Isaacs says partnerships help development efforts »

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SRRA

Sierra Oncology

$1.42

-0.05 (-3.40%)

15:01
02/24/17
02/24
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Hot Stocks
Breaking Hot Stocks news story on Sierra Oncology »

Frazier Healthcare VI…

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EIGI

Endurance

$9.00

-0.3 (-3.23%)

14:59
02/24/17
02/24
14:59
02/24/17
14:59
Rumors
Rumor moving shares of Endurance »

Rumor: Endurance late day…

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  • 27

    Feb

WSTC

West Corp.

$24.66

-0.09 (-0.36%)

14:57
02/24/17
02/24
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14:57
Periodicals
West Corp. buyout looks challenging, Dealreporter says »

Private equity firms have…

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  • 28

    Feb

LUK

Leucadia

$25.63

-0.09 (-0.35%)

14:50
02/24/17
02/24
14:50
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14:50
Options
Leucadia options imply 2.4% move in share price post-earnings, above median historical move »

Pre-earnings options…

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EWJ

iShares MSCI Japan Index Fund

$51.43

-0.205 (-0.40%)

14:41
02/24/17
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14:41
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Options
iShares Japan Fund draws a notable option block »

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RP

RealPage

$33.70

-0.5 (-1.46%)

14:36
02/24/17
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14:36
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Conference/Events
RealPage management to meet with JMP Securities »

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  • 27

    Feb

  • 27

    Feb

  • 02

    Mar

VLKAY

Volkswagen

$30.91

0.135 (0.44%)

14:29
02/24/17
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Hot Stocks
Volkswagen took EUR6.4B in charges from diesel scandal in FY16 »

Volkswagen said that…

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ADRO

Aduro Biotech

$11.15

-0.25 (-2.19%)

, NVS

Novartis

$77.15

-0.2959 (-0.38%)

14:27
02/24/17
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Hot Stocks
Meet Aduro: Progress across 3 main platforms seen in 2017 »

In an exclusive interview…

ADRO

Aduro Biotech

$11.15

-0.25 (-2.19%)

NVS

Novartis

$77.15

-0.2959 (-0.38%)

JNJ

Johnson & Johnson

$122.09

1.19 (0.98%)

03/08/13
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  • 24

    Feb

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    Feb

  • 09

    Mar

  • 14

    Mar

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    Mar

  • 26

    Jun

SU

Suncor

$31.55

-1.12 (-3.43%)

14:26
02/24/17
02/24
14:26
02/24/17
14:26
Options
Suncor call volume above normal and directionally bullish »

Bullish option flow…

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VLKAY

Volkswagen

$30.91

0.135 (0.44%)

14:21
02/24/17
02/24
14:21
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14:21
Hot Stocks
Volkswagen sees FY17 operating return on sales 6%-7% »

The Volkswagen Group…

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SPKE

Spark Energy

$25.55

0.35 (1.39%)

14:21
02/24/17
02/24
14:21
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14:21
Periodicals
Spark Energy hires Morgan Stanley to advise on potential sale, SparkSpread says »

Spark Energy has retained…

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  • 09

    Mar

VLKAY

Volkswagen

$30.91

0.135 (0.44%)

14:21
02/24/17
02/24
14:21
02/24/17
14:21
Earnings
Volkswagen reports FY16 EPS EUR10.24 vs (EUR3.20) last year »

Reports FY16 sales…

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SPKE

Spark Energy

$25.55

0.35 (1.39%)

14:19
02/24/17
02/24
14:19
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Periodicals
Breaking Periodicals news story on Spark Energy »

Spark Energy put up for…

03/08/13
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  • 09

    Mar

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