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Hi turbo
That's not mine that's what the web site says :)))
Bamps you really are no mathematicians when I was at school 25 x 10 = 250 not 200 so you are still wrong lol.
Hi FSA
It is expected that very few picked up on my comments on the Panorama Cobalt they've all got glitter dust sparkling in their eyes :))£££
I'm not surprised my calcs had too many noughts i've only got O level maths , but what surprises me my lad is an FD and my daughter did a Phd in bio genetics. Must take after me they look nothing like the milkman :))
Here's another but it wasn't as bad as the web site multiplication
25km x10 km = 200 sqkm?
Assuming 1m thick
20,000m x 10,000m x 1m = 200,000,000 cubic metres
200,000,000 x c3 ton per m = 600,000,000t
Cobalt at 0.99% = 6,000,000 t
At $32,000 per ton = $192,000,000,000
Damn still got too many 0s
Help!
Hi Bamps,
I’m surprised no-one else has come back to you on this - even if your numbers are over by a factor of ten it’s still massive. Not qualified to comment myself but would be very interested in one of our resident geologist’s take on this...
V well said Tig
I've noticed a slight change in the company wording on the RNS it's changed from 'a gold and cobalt exploration company ' to ' an exploration and development company '
Probably nothing significant.
I hope they start exploring the Cobalt at Panorama soon described as the largest Cobalt find in Western Australia. 200sq km cobalt anomalies and stream sampling high at .99%.
At £32,000 per ton and rising it's a huge resource.
On the BBC web site last year there is a piece on seabed mining for Cobalt. The EU are funding a trial called the Blue Nodule, the sea bed ecology will be destroyed.
The Uk to meet it's commitment to have all electric cars by 2050 will need all the worlds cobalt production.
The price can only rise back to it's high of $100,000 pt with pent up demand.
200 sq km x assuming 1m thick = 200,000,000 cu m or about 600,000,000 t at .99% = about 6m tons of Cobalt.
It's huge :))
Great post Tig, and all makes perfect sense to me
ATB
Davie
Well said Ti. You don’t drive a BMW by any chance?
Him
There is an enormous amount of debate about GGP strategy based mostly on unsupported evidence that such an event will take place. If any event ( s ) are likely to take place it will be the 5% Fair Market Value and / or the 100% purchase of Hav., both of which have a higher likelyhood.
What is a FMV. ( how catholic is the Pope ????? )
What is the 100% FMV of Hav.???????? - Stick your finger in the air. I guess a $1 Billionish ,- but who knows. Certainly none of us. When I next meet GH, I will ask him the question.( s )
What I do know for an absolute certainty is that I, and all the rest of you who hold shares in this company are fortunate people, and you will not regret having done so. Events ?? will happen, and in my case I have set some SP targets at which I will carve of some ( quite substantial ) amounts to rearrange my investment strategy. But at this moment , there appears to be no better strategy than staying where I am. Cos' GGP still have the probability of a further X1 / X2 / X3 / X4 / X5 increase .
And I cannot find any other shares on the market that offer a better deal. If they do X5, ?? then I think spreading would be sensible. But I will still retain a GGP investment because to me they are a 1 in a 1000 company.
Prove to me otherwise .
Tig - one of the faithful.
Absolutely TMT,I also don't think that a buyout of the company is either desirable or necessary. I think that the best value would be achieved by working with NCM, if we carry on proving up resources while NCM get on with the mining for now. Perhaps later GGP could get involved with the mining side of things,if that's what they want to do.
@RA Most buyouts include some risk. Hav takes a huge chunk of the risk away.
Any major would be glad to have Scal and would be willing to include something for it if making an acquisition. Sure, there's risk but there's also major upside. Rio wanted Rudall. These things have some value and we aren't the only one that would be willing to take a risk on them.
I don't anticipate a takeover but if the SP stays low as the publicly known value of Hav increases, the likelihood of a hostile move increases, and it isn't limited to miners. Any speculator, looking at the price of gold, could say, "30% of Hav at that price? I'll take it."
Surely GGP’s value for any potential buyout will be based on the value of resources owned not dictated by some arbitrary figure NC decide on? If the company’s resources are worth 50p+, I can’t see GH or for that matter the shareholders letting them sell it off cheap
Only one problem Rational, not enough x's in the price. Good night all.
A buy out of GGP is highly unlikely. Hav along with all the other prospects we have plus Tasmania are all very difficult to value, even more so when you factor in the increasing value of gold! NCM will not be able to justify to their shareholders any value on a ROI basis that would be acceptable to our BOD.
If there is an offer, our share price will adjust to just below the offer. This will give all those that are looking for their 35p a chance to cash out by selling their shares. The real investors will remain and will eventually get proper shareholder value over the long term.
Rational loves writing an essay
WilliamLaw - I agree with the mjority of your post but I do have some doubts about a "buyout" of GGP. The suggestion is made quite regularly on this board and I've yet to see how it might be achieved. I belive that there are two routes to buying out a company.
1. those who are buying out have to own over 50% of shares in circulation. Once they have (I think) 3% of shares, they must declare that fact to the market. That very declaration will immediately push the share price up and the ability of the buyer to get to 50% becomes very expensive. I'm not convinced that any of the majors would look to take a very expensive "punt" on GGP, although us PIs will all sell out at our various levels and would probably do quite nicely. At the moment, (my) fair value for my shares is significantly higher than the current SP and I suspect that this is the case for quite a few of the shareholder community.
2. The buyer presents a "deal" to the BoD (ie we'll buy your company for £XXXX). The BoD will be required to present the offer to the shareholder community and will do so with a recommendation as to whether they feel it is a good or a bad deal. In this scnario, GH and his BoD will have to determine what they think is fair market value whilst recognising there is still quite a bit of risk on our other tenements - almost to the point that they have no value. This is why Scally needs to be dug and we need to become at least a two trick pony. All the same, I suspect that GH's view of FMV at present would still be some way north of current SP so it would take a significant offer for the BoD to recommend acceptance. Again, I'm not convinced that any of the majors would want to take the fairly expensive "punt".
Which route for takeover would you reckon is more likely? by whom? and at what SP? I'm struggling at present to answer any of these questions.
Regards & ATB
RA
MRE to coincide with NC August announcement
SP 24p
NC buy out GGP for 35p by mid Sept
NC are a Gold Mining company we aren't....
Just my guess / thoughts.. just do not think NC
management will allow us to get to 40-50p
Hope I'm wrong.... Rup
........and talking of one trick ponies ...lol
My feeling (and I am by no means an expert) is that GGP needs to get Skally going as a contender before they even think about selling Hav. This will create real momentum for the SP and avoid any risk of GGP being a “one trick pony”. However the potential of GGP with or without Skally is still fabulous in my opinion. There is a serious risk of a entire share buy out of course if Initial drilling at Skally starts looking interesting