The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Sry, should have read more as in flexible as in separating payments into two tranches albeit well within desier timelines to meet targeted divestments etc.
listening in to call and typing posts while i was catching up on work after morning off :-)
"Lundin Gold (TSX: LUG) has negotiated a deal with Newmont to buy out the remaining stream credit facility and offtake agreement for its 100% owned Fruta del Norte mine in Ecuador, relieving the company of its debt obligations to the world’s biggest gold miner." https://www.mining.com/lundin-gold-becomes-debt-free-with-330-million-repayment-to-newmont/
Topped up today for *5.64p.
First buy on 22/11/21 for 14.5p ( 2 years , 5 months holding )
Idea after chatting with zarqhon on LEK he had sold a biggish holding at 17p and posted that trade on this board 9/8/21.
Buying some back in his ISA later.
Never been in a paper profit , a steady decline .
Got today's idea to average down after reading the SHG ( Shanta ) page , and having spare funds on acc.
Addicted to this AIM casino.
"Cash is a preference but as can be seen with Lundin deal, they seem open-minded." - note the Lundin deal is for cash, split into two instalments totalling $330m. Lundin purchased both the remaining stream credit facility and offtake agreement.
I don’t know if inferences can be drawn from Lundin. If I understand it correctly, think the case is that Newmont has retained Newcrest’s equity interest in the company itself, whilst agreeing a price to dispose of Lundin’s debt arising from funding provided and arrangements to finance the Fruta Del Norte mine.
It'll be important to ground truth those geophysical interpretations early on. I found it interesting they are interpreting the BIF's as repeated and folded. I've read about and even seen folded BIF's on a local scale. Google folded banded iron formations and you'll see some incredible rocks aha. But folded over KM's in scale...sometimes its hard to visualise the scale of geological structures.
- Currently in Phase 1 being Price Discovery Phase i.e ascertain interest for assets to set price/negotiating range and they have had great interest, cash is a preference
- Separate and dedicated teams for each 3 geo’s inc. Oz assets
- They plan to divest or decide by calendar year Q1 2025
We don't know when Phase 1 ends but as they've had good interest for the assets you'd think they won't need to extend it, especially for Oz assets with GGP sat there willing to negotiate once a valuation range is set.
Cash is a preference but as can be seen with Lundin deal, they seem open-minded.
In previous comms from NEM CEO and correspondence with Investor relations the sequencing suggested is completion of Hav/Telfer and Aykem before N.American assets.
GGP should IMO have a draft framework financing pretty solidly drawn up with Wyloo, Banks and other parties within their idea of FMV for the assets to ensure negotiations can be efficient including hopefully plenty of Due Diligence that is achievable at this stage being conducted too, helped by the fact that Havieron and Telfer are already part of the plan for JV in place.
So fingers crossed Telfer/Hav will be completed earlier within the timeframe set for divestments planned by Newmont for CY Q1 2025.
Replay:
https://events.q4inc.com/attendee/908608833
Mapp do you know who owns London South East ( this chat site )
If I can find the time I might be able to pull something together. I did start a thread dedicated to EG o here but it got quickly buried by other posts. I'll dig it out and add any thoughts as they come there at least
Itsouthere, aim999, loftmonkey, unimaginative and other sceptics. Still making everyone laugh at the lengths to which some people will go to try and distract, even though they must clearly be uninvested. A clear message: “All right, but apart from the gold, the copper, the updates, the PFS, the Juri JV, the Rio JV, strong reserves, the Telfer plant, the decline, the strategic presence, £275 million market cap, a low AISC, the 86% conversion rate, a safe jurisdiction, looking after the indigenous people, Ernest Giles and the Greatland Board what has Greatland ever done for us?”.
I think the real investors know what the outcome is going to be through years of research.
Zoros maybe LSE fundamentals can explain that one
Https://twitter.com/PeterSchiff/status/1783521278151770158
"Newmont Mining is now up 10.5% following better than expected earnings, but the rest of the mining sector is barely positive, with many stocks still trading down. It's as if good news from $NEM has no positive implications for the rest of the sector! Wall Street is still asleep."
Unless I have been living on planet Saturn for all my life - when did the market sell more shares than it bought (or vica versa)????
Z
Hi Sharket mare. The traders are fully aware of the uncertainty and the effect it has on the SP. If it is not Actus it is others and the short will end as news and certainty comes in. Not long to wait is my bet. ATB Speedy
Newmont have a dedicated team for each location of their divestments, they haven't really given any further news other than to say they are pleased with the level of interest and expect all 6 divestments to be reflected in their accounts by Q1 2025.
First question on divestment, process has started on the divestment assets and there is a lot of interest in all of the assets for divestment. Expect all to be completed within a 12 month timeline and Newmont's preference is for cash.
Ace, yes.
I am of the opinion that the drifting lower share price is due to a large institutional seller who entered the market at about the same time as the short was placed on the shares! If that is true then all that is needed is to wait until the seller has finished whereby the shares will not have the overhang weighing it down. The short will probably disappear at the same time. I have taken the opportunity over the last few days to top up substantially as the price is a steal however you look at it. If I am correct then all that is needed is to wait it out and top up of your finances allow. No bad news is forcing the shares down only what I’ve mentioned and of course the uncertainty regarding the potential takeover of the 70% that we do not as yet own.
BUYS 12,000,000 V SELLS 6,500,000 will be marked up or down
Would that be another mill?
SD needs to update the market with something ...all the uncertainty is not good
Ace, for your spreadsheet!! Accumulated another one today!😊
Newmont share price up over 10%
Increased gold price manifesting itself
But not here. While a bunch of posters on here are moaning about the current share price, those of us who have done our research & calculations are accumulating like mad. GGP is an absolute steal at this price.
The moaning minnies will have even more the complain about by the end of the year as the sp steadily rises into the extraction phase, when they could have bought now instead of whining.
And yes, I've just bought more this afternoon at 5.5p :)