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you do realise this is going back up again before close today.
same as yesterday, next week expect a surge
Good banter guys .
Spy hi,
Trust you :-)) had to laugh !!
ATB
Tom
sure you dont mean you just wee'd yourself...lol
Just had a wee T/U 13:02:13 1.785 250,000 Buy
Wellcome Back
Mickey hi,
Still here and watching on the side line awaiting for something to happen. Buying some more on the dips so keeping busy.
Done a big 50% sell with TW. ( house builder ) earlier as they shot up 15% this morning so now have a fair chunk of cash for GGP & Rock. :-)))
Have a great week end all.
Tom:-))
Mickey. Check over on ROCK
Good point, Scally and PRE assays are going to be all GH and CB need and obviously whats Havs got to talk the big turkey with SB if not earlier .
Off Topic
Anyone seen Tom E?
SK: "How much would GGP get for Scallywag and their other Paterson assets, say, if selling it on the open market today?"
IMHO? Not much!
Why? No drilling. It's all very well publishing pretty pictures but the only thing that adds value is drilling holes. It's not necessary to make a "discovery" hole but hitting the right rocks helps.
Look at what happened at Saddle Reefs. Lovely surface geochem, geophysics etc but results marginal/inconclusive, not a write-off but didn't add millions to valuation either. Plus all this stuff is stranded w/o Newcrest unless it is a major find like Havieron.
Until Scallywag is drilled all of the value is in Havieron. Of course we are hopeful for Scallywag and only 4-5 months to wait for drilling and then assays. Maybe one of the targets at PRE might get drilled at the same time.
Plus offset by the cash generated by the exercise of warrants options etc.
Hi Jerry, yes, you could factor in those too, but then that is likely offset by not factoring in the other assets.
How much would GGP get for Scallywag and their other Paterson assets, say, if selling it on the open market today? They have significant value, probably as much as the options and warrants are worth today.
Take a look at Great Bear in Canada.. Similar non 43-101 estimated 10m+ ozs with 50m shares... CEO said this week he wouldn't take $15 or 750m t/o... $1bn or 21p/sh is about right for GGP
SK, I think you need to use the fully diluted shares in issue as loads of options, warrants and share based payments if price is that high. I use 4.145byn.
As to what its worth in the ground, its far too early to even guess, but RTCs guess is at the bottom end of any range imagineable. It could go as high as $300, although unlikely.
*and (d) Newcrest's desperation
RTC, you have to factor into the pricing (a) the fact that there is already a processing plant next door massively saving on costs, (b) that this is mining safe Australia, (c) this is a likely Tier 1 asset, and (d)
I was in Stratex. They only had 30% after selling 70% to Centerra in a license deal. Stratex had no processing plant, were in Turkey which is not the best jurisdiction and which is a jurisdiction with a history of permitting delays and problems, they only had 1m oz (in a pipe with good long grades at 2+g/t), although in their favour (and common with GGP) was that Centerra were desperate to replenish their pipeline as their flagship asset was having jurisdictional / political problems.
Stratex sold their residual 30% to Centerra for $82/oz.
I cannot see GGP getting any less than $100/oz given that we are dealing with the much safer Australia, a potential Tier 1 asset, the savings from a processing plant next door etc. Indeed I think we will get considerably more than $100/oz, but I prefer to remain conservative at the moment.
Sicilian’s figures are spot on. No way GGP’s share is at the 60 mark.
It’s essentially a penny for million... crude but we’re least around 10m stage atm, if not a lot higher.
See the original numis note for what they think is worth 4p and you quickly realise this is worth substantially more...
I can’t see GGP’s share being anymore than $60/oz and that’s high end (?)
20m oz *30% *$100 / 1.34 (exchange rate) / 3,577,233,658 shares in issue = 12.5p
One can get to 25p if taking $200 / oz
These are at the moment though merely possibilities. What I am certain of though is that a share price of 3.12p is justified at this present moment in time [with the opportunity for massive upside thereafter] and that there is no reason not to test 2.5p again.
20m oz will be closer to 25p
I concur, 20M oz=11p