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SoS - thanks for the reply
cheers
If you sell a house. Do you sell it to the sweet old lady that told you it was beeeeautifool and complimented your garden. Or do you sell it to the little tw*t that was dismissive of your kids but offered to pay more than you wished for? Hav is special. Indications are of something monumental. (I'm not ramping.... OK, maybe a teeny weeny bit...). BOD are financiers - value for investors is the goal. They will talk to ANYONE who is interested. Business is business, friends is friends. I expect nothing less from MY company boss to return the BEST deal for MY company. Don't think of it as a share. That's a piece of paper. I own a PART of a BUSINESS. I expect Net Total Equity.
Thanks SOS... not sure why it needs to get complicated ?
Why talk of hostile t/o'ers
Up to NC to play fair so
NC give agreed price for 30% as per JV deal and realistic price for remaining 30% of gold value for Hav
Set up new JV for Scally on better terms for GGP and move on......
Have a look at Wallbridge Mining. Homepage gives a nice map of their tenements. 2nd on the right is Fenelon Gold. Balmoral Mining sold this mine to Wallbridge in 2016 for Ca$3,400,000. It is currently at the “advanced exploration stage”. They have a stope and have taken bulk samples – see the technical report, pg 66-67.
https://wallbridgemining.com/site/assets/files/2592/2020-03-17-wm-tech-report.pdf
Now return your attention to the map of tenements on the Wallbridge homepage, from Detour East, to Grasset in the West… These were acquired from Balmoral earlier this year by the stock merger of Wallbridge with Balmoral, valuing Balmoral’s assets at Ca$110mil.
Martiniere has indicated resources of 591,000oz Au. Grasset is mainly Ni (3.5Mt) indicated resources. The others are all at early exploration stage. The main Fenelon mine is awaiting its MRE later this year. Look at the bulk sample grades from pg66. Stope grades from 10.94 to 38.33g/t Au. 70-80km of drilling completed thus far.
Fenelon is going to be something. But everything else is treated like something else. If it ain’t got a proven value, it is just a piece of ground with a small price.
----------------------------------------------------------------------------------------------------------------
Schlemiel ask what I think is the end game in terms of GGP. Honestly, if you look at what you pay for a proven resource, and what you get for a hope-n-prayer piece of dirt, Hav is up for bidding. I am hoping the North Americans will join the bidding frenzy. GGP gets 30% of a lot of dosh, with hopefully a retained NSR of 1 (or more) %. Free cash for onwards and upwards. LTH get nice special div – pat on back all round, and GH loves you for your support through the hard times. Those that want out, sell out. Those that trust in GGP to continue to uncover and develop amazing resources stay put. But the company has a healthy income and good long term SP at a sensible level (after a frenzied peak).
But what do I know?
ATB. Hold for Gold.
SoS - What do you believe is the end-game in terms of GGP?
thanks
very switched on views and insights SoS.Thank you. found that enlightening
SoS -
A D V F N is far less censorious in its policy of what is and what it isn't worthy of publication or let's say what is deemed to be sensitive in terms of market information.
Thanks for your input
I caught that post SoS but didn't realise it had been removed (along with you for two days)! Pretty intriguing stuff and it could be because your previous 'guesses' have proven very accurate that someone sat up and pushed a button.
Please keep posting within the permitted boundaries. You are one of several posters who have very sharp eyesight focused upon this industry and/or the shenanigans that surround corporate 'tensions' generally.
Best song? Got to be 'My old man's a dustman' Lonnie Donnegan late 50s. Or, seriously, 'Some Enchanted Evening' by anyone. Turned around 53 years ago and saw this little lady and knew immediately she was the one; Kismet. Still have that first glimpse in my mind. Been married for 52 years and still in love. Well, I am. However, the way matters with GGP are proceeding, I may be losing out a little to GH. GLA, SS.
Some of you more switched on may recall my post from Wednesday evening regarding the possibility of the North American's joining the fray into the Paterson. Unfortunately that thread has been removed - I got banned for 2 days for that. Sorry about that. Guess someone thought I was a professional. I am - just not an investing pro. Or from Canary Waffl(e). Or Cheals(e).
So my feeling is that this is going to play out in a far more complex manner than any of us can imagine. The BOD are going to be walking a tightrope to get the best value for GGP, the BOD, and all of us Greatland Believers. That is why I think we should temper our short term expectations a bit. The SP is being kept down - it is clearly being 'manipulated' by some big players who want to establish positions from which to move their chess pieces. This is a hot company to be a part of - it WILL rise. But not until positions have been taken, and the temperature of activity rises. I have no M&A experience or insider knowledge. But I have friends who have been taken over via hostile takeover (OUCH). And I have friends who were M&A solicitors and CA's... When things hot up, it takes several months of 24/7 multiple expensive teams working their ass*s off, boys and girls. This is no flash-in-the-pan company. It will be a mammoth-explorer. And the next few months are going to be an emotional roller coaster.
Patience my young Padawan.
GLA. Hold for Gold.
SOS - loved your post on buying mines comparisons. Resonated with me.
Lots of uninvested PI's taking a pop @ GGP because of its NPV. Let's hope Gervaise brings this MF home..........
Drusus, I can respect that.
You deserve that much.
Hopefully GH has a plan for all of our needs.
Don't forget, he's been waiting a few years, as well.
Have a good weekend.
Big week coming up. Hold for gold.
Been here 11 years,as a LTH and with 5.5 mill,I would very much like a company buy out 80p-£1 this winter please.
I agree with most of you. And I think THE_CHAIN has a fair point which very much parallels my thinking. However, NCM aren’t going to move on anything until they have their 70% - cheap as chips at $65mil. Bargain basement price.
2 scenario’s.
1) Sell Hav for X amount. GGP gets huge coffers, declares special div. We all get a bit of cash and still hold our shares in GGP and all it’s other assets. GGP coffers overflowing to continue onto the next discovery. Happy days.
2) Kinda trendy to be a holding company for assets and royalties at the mo’. You own a share, get to do sweet b all, and get paid a ton of dosh quarterly. Haaaaappy days.
For those hoping to make a quick buck, option 1 (esp those with millions and millions of shares, true LTH). For the rest of the hangers on, option 2. (Sorry, that includes me with my paltry 350k at 8p av).
But GH is a CFA, an investor. A true money man. AB is CA – another money man. CB is the geologist, but he is an investor. And CL, well he is definitely a miner. I am sure us PIs can make our opinion known to the BOD via this BB. But at the end of the day we cannot second guess their LT goals.
GLA
Hold for gold.
Best song of all time...
Best version by Disturbed - Aussie group.
https://youtu.be/u9Dg-g7t2l4
Sound of silence-art Garfunkel
Arguably the greatest song of all time
@SoS, very good post.
It's Friday evening. It's been a long week for us all hovering over the BB and SP..... Wine time... But, I'm bored - it's a long story which culminates in kindly British taxpayers paying me to be at home. God bless you all.
I attempted to find recent Tier 1 gold mining purchases. Not as easy as it sounds. Peeps are slinging around $2.5~4 billion offers for our share of Hav.
Nov 2019. Saracen Mineral Holdings buys Barrick’s 50% share of the Tier 1 Super Pit for US$750mil. 456,000oz annually,
July 2017 Barrick sells 50% of Veladero Tier 1 mine to Shandong Gold Mining for US$960mil. 2019 produced 274,000 ounces. AISC US$1105.
Au2019 Red Chris Mine – 70% purchase by Newcrest.20mil Oz Au, 13blb Cu. 2019 produced 72mil lbs Cu, 36,471 ounces Au, 133,879 ounces Ag. US$804mil. Current lifespan 2043.
Sept 2019, Barrick buys Acacia Mining for US$1.2bil. Acacia produced 435-475,000 ounces Au per year.
These were all operating mines, pouring gold. If Hav is 30mil oz Au (and don’t forget the Cu) we are definitely all in the money. Thank you GH. Honestly, from the bottom of my heart. Take my first born... Please. Really... Please. But let us all tempter this a little. I think we need to realise that selling mines is complicated, expensive, and I am sure (at time) downright dangerous. And selling a tract of dirt with minerals underneath is not a guarantee to unlimited cash. Miners are like farmers and Yorkshiremen – tight fisted b******s.
Stay safe. And remember: R is still R.
ATB. Hold for gold.