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@Baz,
I agree with your comments.
I believe the guys at the top table should do the deals on our behalf and announce them via RNS. The alternative would be, one and all, putting their ore in and possibly upsetting or jeopardising a good outcome re negotiations.
Let managers manage and investors invest. AIMHO.
GLA
T-REXBaz - you sound like a metal guru. Please keep up the positivity and we could soon be riding the white swan that lays the golden egg. Oops sorry couldn't resist.
For what its worth i am very happy with todays announcement. Glad we are not spreading ourselves to thin and concentrating around the Patterson Area. Glad that we are over 1Km and conditions getting better by the day. Glad that gold is pushing $1800 today. Glad that we are going to get quiet a sizeable increase in Havieron in the not too distant future.. Glad we are continuing to explore...looks like rigs in the Rudall tenement now also. Not glad with the SP but glad to predict we are going to see a steady increase in same as we go to "offensive from defensive" . Over Glad.... Over and out .. Baz
Meanwhile, back at the coal face (well, similar) I see gold futures, February 2023 contract are up 50 points at $1,811/oz.
Good day so far - maybe, just maybe, things are starting to turn in GGP's favour.
https://uk.investing.com/commodities/gold
Just my take on this, but I think the fact that the mining world in Australia/Tasmania is probably quite a relatively small,close knit community means that inevitably there’s often going to appear to be close connections between business activities. I suppose there’s pros and cons to this.
I may be wrong but I don’t imagine that there were many alternative/competitive interested parties to choose from.
GLA
Why go down the road of turning it inside out. Parties agreed, deal done so far as it is, and RNS’d.
It only becomes a problem when a CEO is judged on relatively informal discussions when expectations exceed ability, or desire, to accommodate them.
As long as it is the interests of GGP going forward I really don't give two monkeys. Let's give the man a bit of space and time first, and then judge him.
GLA
I get what SaS is saying but on the surface for reasons around corporate standards and ethics it needs to be see that FG were chosen as the best partner, can't be any different for GGP than for other companies. FG can't be seen to be getting thrown a deal for the PCT shares agreement - very shaky ground for both companies.
I imagine other industry friends as a favour or genuine parties entered 'talks' but unofficially the FG boys had been promised the Taz assets as thanks for the 2 year tie-in as there was nothing in it for them otherwise. There are always rules around such things that must be adhered too such as tendering to X amount of potential vendors in some companies from an approved list etc.
As for the timing, business deals take time due to red tape, due diligence etc. on both parties sides, certainly in my work easily 1-2 quarters for closing deals and I've got to know a few guys in the last 2-3 years involved in areas such as O&G fairly well who tell me JV/Farm-ins and sales are very complicated and rarely quickly agreed.
I get where you are coming from SaS but I think it would have just complicated the interview with detailed historical explanations of who worked where and who knows who. It’s obvious to choose a business that you have a good working relationship with.
I personally like it when people question the party line its all about opinions.
Hi Rotherby, I was referring to the proactive interview that Shaun did today, not the original RNS.
When Andrew Scott asked him about the deal, Shaun could & should of come clean about exactly what had been agreed and when.
He didn’t even mention that Five Diggers & F-l-y-n-n Gold, were all intents and purpose the same blumming guys.
White witch - yo panama; praise be to the gold god. Or is that golden boy. That should wake up those little devil trolls.
SAS - I think you are being a bit tetchy with your view that an MD must not be economical with the truth if the need calls for it. I know thats a twist on what you said but thats the way I read it.
As dip says correctly they have been on this one for some time.
SaS
'I just wish Shaun could of been honest and upfront'
vey strong, you cannot give out information that is market sensitive without an RNS, and you cannot release an RNS unless ever LAST bit of the puzzle is in position.
I assume yesterday was the day, you also do not want market sensitive information, held, in creasing the chances of regulatory breaches.
TBF SaS - we knew something had to be in the mix for Pacific Trends to be agreeing to lock in for so long with their shares and yourself as others familiar with the history suggested this deal so we've been expecting it.
But these deals take time to conclude, due diligence and dotting the i's and crossing the t's and I imagine in order to ensure that there wasn't seen to be any impropriety given the Pacific Trends deal that GGP also had to discuss with other parties too, and he does mention that other deals were explored as I just finished listening and making my notes :-)
After stating on this BB months ago, what my thoughts were on our Tasmanian assets, and F-l-y-n-n Gold, I just wish Shaun could of been honest and upfront when asked about the deal he announced this week.
This deal was done months ago imo.
Why else did Pacific Trends agree to accept less shares than they were originally entitled to ?
It’s no coincidence that the directors of both companies are the same is it !
F-l-y-n-n Gold was set up as the exploration arm of Pacific Trends.
PT acquired 100% of the ordinary shares of Kingfisher Exploration Pty Ltd.
Now who knows Tasmania more than most ?
Sam Garret that’s who, and who is a director in both PT & F-l-y-n-n, Gold ?
Yes you’ve guessed it, Sam Garret of course.
https://wcsecure.weblink.com.au/pdf/FG1/02384698.pdf
The key assets acquired from Kingfisher were interests in several Tasmanian exploration licenses.
The transaction was not accounted for as a business combination as there were no existing customers or employees.
Once PT acquired Kingfisher, they then changed the trading name to F-l-y-n-n Gold Pty Ltd.
IMO, the deal that was done between GGP and what was formerly Pacific Trends, now rebranded as Five Diggers Pty Ltd, always had the agreement that GGP were to allow the takeover of our Tasmanian assets by F-l-y-n-n.
This for me, is the first time SD has been seen to be very economical with the truth, instead of just telling us as it is.
I just hope he doesn’t carry on trying to hoodwink us this way.
I hope the right questions get asked at the AGM, about why they have tried to disguise what really happened.
Love your passion Panama - keep it coming - in Shaun we believe, roll on 2023!!!
Shaun's used that phrase a lot to describe how once the option exercise and funding issues were solved that he could be more forward thinking about building the company rather than dealing with issues as those above :-)
Haven't had a chance to listen yet - will do in a bit - it seems to have driven Panama to religion so must be a good interview lol
From defence to offence....is that a shot across the bows of Newcrest?
Can't ignore this beauty ??. When Shaun says defence to offence....you can conclude. I hope Shaun was not cheekily referring to Newcrest when he said in interview "it's been a good transaction not all transaction are".
I meant to add that , he’s either an extremely good actor and PR man … or and most likely in my view , a superb MD hatching more plans to create GGP his career ultimate platform , into the multifaceted multi billion dollar company.
Keep it coming Shaun … we’re waiting , those of us who are with you
I believe he’ll do it. Just depends how long
Hhhmmmm. … very good vibes “ defence to offence “. …. We can look forward to a Pivotal year in 2023” …. “ you bet”! From SD on proactive all with a glint of a smile in his eyes …. Looks like a man with more plans to me !
Really looking forward to that “positive. “ updated resource from him soon !
He strikes me as a “good” Bond baddie in that clip lol! You know …. Kind of like a white witch !
Good things to come. Hallelujah.
GLA
@Sam
Good question. You might want to lurk about the darker corners of the financial district and/or respond to those ads saying “like to work from home and make £000s”
Let me know how you get on :)
Ignore me. It’s back
Just green bin me instead ;)
Oops. My 0845 about the absence of the green bins today was zapped by our mods
Nerve. Touching. Must be. A.
The doors,
Where do I sign up for one of those 10p contracts; most of my posts are rubbish, but I don't receive a penny.
GLA