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SOL are talking to investors about a potential spin out of Round Oak Minerals (formerly known as Copper Chem on the SOL books)

Round Oak has as its flagship asset the Jaguar zinc, copper, silver and gold mine in WA , previously owned by IGO Limited, and it also has two old mines located in the copper district between the Queensland towns of Mt Isa and Cloncurry.


Round Oak also has a sizeable package of exploration acreage south of Cloncurry, meaning it will likely be a close neighbour of AIC Mines.


A longer term growth option is the Stockman deposit in the Victorian high country near Omeo. Soul Patts paid IGO Ltd $32.2 million for Stockman in June 2017 on the promise it would pay IGO up to a further $15 million based on production royalties.

It would be likely if Round Oak became an ASX listed company that have WHSP would remain as a large shareholder.

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  • 2 weeks later...

Milton MLT no longer trading... went ex dividend (37c special, ff) yesterday and that is it ... a market cap of $4.58 billion for MLT, and SOL currently has M/C of $8.54Bill. so $12 to 13B

The Exchange Ratio for Milton proposed merger with Washington H. Soul Pattinson (WHSP) has been set at 0.1863

• The Exchange Ratio implies a total value of $7.18 per Milton share


Combined entity starts trading soon .. Scheme is expected to be implemented on 5 October 2021 ... so will it be then, on 05 Oct or the next day.


SOL is going to be a big player.... parts include

... a lot of equity with holdings in nearly 100 companies. How many in 12 months time, I wonder?

.. firing on multiple cylinders. NHC getting good price for thermal coal; Round Oak copper looking good; Brickworks benefiting from housing; property assets rising as industrial sector is a winner; and API out the door.

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and a 36c dividend from SOL .... the 20th year in a row it has increased


There is a presentation addressing the inclusion of Milton assets into the SOL family


Investing strategy


WHSPs enhanced liquidity position following the merger will allow us to capitalise on investment opportunities arising in our target asset classes and thematics


1. Milton merger providing > $2b in additional liquidity

WHSP has significant liquidity available for future investment. Additional debt capacity and low cost of debt


2. There is a high level of deal flow in alternative asset classes

Private equity, Structured yield, Emerging companies, Global equities, Real assets & Property


3. WHSP is focusing on key thematics

Health and Ageing, Energy Transition, Agriculture, Financial Services, Education


4. Building around platforms for growth

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  • 1 month later...

WHSP thanks shareholders who registered their interest in participating in the proposed Round Oak Initial Public Offering (IPO) process.  
WHSP has decided not to proceed with the IPO process at this time as a result of current market conditions for IPOs and some encouraging exploration results at Round Oak’s Jaguar operations in Western Australia that have the potential to materially extend mine life.

Round Oak continues to perform very well with strong operations and favourable copper and zinc prices and WHSP believes that extending the life of mine at Jaguar and progressing the Stockman project in Victoria will add material value for WHSP shareholders.   

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