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Fri 20.18 - comment re GH is best summarised by me as bebeto by name, bebe by comment. It's as if you have not read any of the RNS's or paid any attention to the research willingly shared on here
I am invested here, GH has previous let's assume he's learnt from it.
Havieron, anything over 2g/mt AU would be considered commercial.
Bebeto, and how on earth did you come up with that wisdom, comparing Havieron and NC to EG and Newmont? Jeez, if you can't understand the difference, what on earth did you invest in here for.
Good grieve, the nonsense people write here.
MS
Wow straight in bin for you
The amount of money Newcrest have already committed; drill results to date. Newmont Mk2 you're having a grin - nice try though
Havieron looks great opportunity for GGP , GH on the the other hand.. let's hope it's not Newmont MK2.
There has been a lot of speculation on here that Newcrest will buy either our 30% or in fact all of GGP based solely on the MRE.
I am convinced GH will never agree to, unless it's a price that covers all of his expectations.
Seeing how he conducts himself there is not a cat in hells chance he will sign off on a one sided cheap deal. We could not have a better man at the helm.
Chester.
Don't forget of course that the MRE is an 'estimation' not a definitive and conclusive judgement of what is actually contained within. It's a dynamic and will change as more data becomes available through further drilling results, assays and the like. So the final take-out price for GGP's stake in Havieron is a matter of negotiation based on a myriad of data that is exposed to change
Adding up everything that has been said the conclusion is that the MRE will hugely influence the share price but GH will more than likely do a deal for the 5% but not agree anything else for around 12 months until the full ?millions of Gold ounces is defined. Only then will a true value be known and a sensible discussion on a deal.
By that time we will have a better idea of what Scallywag contains, plus any progress on the properties.
Plus Gold will be $2,500 a troy ounce.
Chester.
Now at least the US has passed the stimulus package - so Monday the markets stand a fighting chance......have a good weekend.
You too. I'm sure a drop of Bushmills and some decent music will help pass the time. At least pre-Covid there was sport as a distraction when markets were closed; now it's just a bloody great void!!
Once again thanks. I too feel reassured GH is negotiating on our behalf. Have a good weekend if that's possible under current isolation regulations!!
Kempey
There is no doubt at all that the resource will be bigger than the MRE.
I suppose it's possible that there may be some re-negotiation of the initial farm-in at some stage, bearing in mind that Newcrest will surpass their financial obligations well before their PFS, DFS obligations. How it all works in practice, I have no idea.
We do hold all the aces though in terms of what was agreed. I'm delighted that GH is at the helm for us.
17.41 stebol: "In order to earn-in 70%, a DFS is required". Well why didn't you say earlier - the furniture store has plenty of spare capacity at the moment!
Thanks Stebol...I'm not up on the resource estimating process but given 12 weeks self isolation and I could be well up to speed on it.
Urban and Chester
...that's exactly the point I am making (Probably not that well) Hopefully the contract allows for further payments if NC buy Hav out in full and it is found that the resource is greater than the MRE. I'm sure they try and define the asset as accurately as possibly but being 400m + underground drills may miss significant areas .
Whilst the MRE is clearly an important milestone, it is only part of the process.
In order to earn-in 60% of the project, Newcrest need to complete a PFS. By then, we may well have seen MRE2 or 3.
In order to earn-in 70%, a DFS is required.
Whether it gets that far before we receive an acceptable offer is anyone's guess, but those are the terms of the farm-in.
In any event, the value of HAV to GGP is increasing on a daily basis.
We have a way to go yet in my opinion, but the MRE will at least give us a starting point with regards to value.
Very best of luck to all. It's been said many times but really do sit on your hands (after a thorough washing obviously).
Yes I would love to be involved. Naturally I think I would be good at it too!!!!;-)
Surely for GGP to agree on an MRE, Newcrest will have to define the extent of the ore body ( maybe be not at depth ) and If later during the mining they found other very high grade zones they may have a clause in the contract where GGP were compensated if we sold out completely.
Chester.
I tell you Jerry,
So many possible permutations eh?
Talk about wanting to be a fly on the wall.
UR, I would hope that if NC wanted the 5% but GH didn’t think the resource had been fully ascertained, he would have a clause to give ggp further payments.
Obviously the 25% should be worth 5 times the 5% but not if they have only estimated (say) one of the hg zones as the true value hadnt been established for the 5%.
Problem might come if NC want to speed up development before knowing the full resource. Maybe then NC could lend ggp their dev costs?
Jerry, Kempey,
The MRE has got to be the main consideration. From what I am seeing from PG the necessary infill to arrive at an MRE is ongoing hand in hand with the step outs. The fact that NC appears to have amended their timeline on the Maiden estimate indicates that they are going all out. What happens if stage 4 is completed with a Maiden Resource Estimate valued at X leading to NC taking the extra 5 per cent at fair market value based on the Maiden Resource Estimate and then further drilling continues to expand the resource to Y.
Are you both saying that is the point where negotiations over the final 25 per cent ownership might take place?
Would the contract not also include the provision for the actual gold/ copper being found to be greater than the MRE once mining and processing starts or is that why GH wished to retain 30 to 25%. Perhaps that a risk both parties as it could be less than the MRE though doubtful. How accurate are MRE's I wonder? + or ,- 10% or more?
Love wears such glasses that turn copper into gold and poverty into wealth.
Yuck - where's the sick bag !!
Would the contract not also include the provision for the actual gold/ copper being found to be greater than the MRE once mining and processing starts or is that why GH wished to retain 30 to 25%. Perhaps that a risk both parties as it could be less than the MRE though doubtful. How accurate are MRE's I wonder? + or ,- 10% or more?