Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Whatever happens with the SP, would not want to be out when they finally find the bottom of the Gold. I heard it's so deep it stops just under the stag pub the LTH like to frequent. (Wink)
MMs having a right laugh today. Maybe they where due weekend in France, so taking it out on all the stoploss setups. Good final top up?
THERE SHE BLOWS hahahaha
The cagey words from SB are totally expected, and this was unlikely to be a big announcement for GGP anyway. So no surprises for me.
3 months or so until I believe we’ll see the wood for the trees, so we’re getting nearer.
We have an (as yet) unfathomable resource which is why nobody will give figures until a cagey broker does. And they’ll only go for 6m or 7m oz at the outset for HAV so again some people may feel underwhelmed.
I said before this is an evidence based SP. So the metaphor to have in mind is of a angler playing charades and using their arms to stretch out as far as they go - which only go so far. Because what the angler can’t say in the rules of the game is WHALE. Can’t say it, can’t measure it yet, can’t tell you how much it weighs, can’t stretch the arms beyond his physical boundaries . But it’s a flippin great WHALE and it will take a short time to dive deep enough to see it in its full glory. Hold your breath. It’s a very deep dive ! All good
I think the push will be on once GH announces drilling commencing at Scally. Need a little more news to get the SP to its realistic value. Still holding my shares tight ready for take off. COME ON GGP and good luck all
I don't see the view that SB has cooled on the joint venture, just look at what he said :-
Havieron is in the top slot for future growth for NCM above Red Chris and Cadia extension.
He's really excited about the Breccia
mineralisation.
The high grade zone is still open at depth.
Telfer can still be a Tier 1 asset with ore from Havieron.
It was an NCM meeting not a GGP one, he wants investors to invest in his company not another one.
SB was equally cautious in February after the interim results I thought after being very expansive hitherto. He has his own company to protect and therefore wants to be more circumspect now. Don't forget he has seen GGP share price rise 6 fold to become a £500m company in the last 8 months or so. GGP is therefore a different prospect now and Newcrest will end up paying more than they might have thought when they were talking about results when we were sub 2p.
They have been raising quite a bit of money to fuel their expansion at Red Chris and taken a bigger stake at Lundin. Then there's Havieron to fund. All SB is doing is protecting their investments. Not aware it runs any deeper than that. GGP is still a top target for the foreseeable future imo.
Newcrest using proxys or subsidaries probably, to buy 10%+ of GGP, a defensive action. Similar to their position with Solgold, that is now turning into a bun fight.
So why do you think there is a noticeable cooling of Sandeeps enthusiasm towards GPP and results he is seeing, its completely contrary to what he has done before in these interviews and write ups
"If he was worried about a buy out from Rio then he did the right thing and played us down but he will also be rushing through a deal with us even more so hence his curb on enthusiasm"
Not necessarily. Takeovers can be easier when there are fewer entanglements. A deal with (or for) GGP could remove one entanglement. I don't think it's indicative either way.
I can see an offer coming soon for GGP very soon
If he was worried about a buy out from Rio then he did the right thing and played us down but he will also be rushing through a deal with us even more so hence his curb on enthusiasm
I see something different!
Looking at NCM overall, milled ore down, AISC up. Great assets, great people/skills, Good exposure to gold price upside (hedge is minimal). So excluding the Hav potential, an OK performance, but not great. I'd say fairly neutral for their share price.
Now, looking at Hav, clearly SB is pushing ahead with proving this up, drilling to depth (is this the unreported SW holes) nut giving little away other than the decline ate this year/early next. Hav IMO is a major part of NCM's future and will return Telfer to a tier 1.
My read is that SB is looking over his shoulder at a potential of a larger miner (Rio perhaps) with deep pockets going after NCM itself.
Interesting stuff.
Personally that’s my take on SB’s cooler tone. I think NCM desperately want all of Havieron as they know it’s effing huge. They’re still trying to find the edges of the HGZones and in the process keep finding new HGZones. Then the Breccia zone is bigger and higher grade than they currently get from Telfer. This is a screaming But and hold as they are going to try and buy GGP out in its entirety.
For me there is a marked cool down in rhetoric from Sandeep, could they be talking deals being discussed hence why he doesn’t want to show his hand. You certainly wouldn’t have a good negotiating position if you bigged it up, hence why he is being very cautious. Don’t forget Scally being drilled and he maybe slightly annoyed if GH isn’t cutting him a deal on this till after first drill results.