Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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GH will squeeze the pipe from newcrest if it comes to a takeover for all of ggp, yes we need newcrest but newcrest really really needs us and GH will hold out for an idea of what’s in Scally and PRE .
Antipa!
Rio just confirmed another $14m stage commitment for their Citadel JV with Rio....
Some great posts again today team, nice keep them coming tomorrow !
With regards to your last post Paddy , I have watched all the videos that Heddle has fronted together with all the interviews he has done previously over the last few years and you can see that he has all but given up with trying to sell Greatland Gold to UK institutions.
Most UK banks and brokers view AIM as a complete lottery (as most of us do ) without any proper market surveillance and compliance and so why would they risk capital, especially so when money is freely available from the BOE (never ending QE) and can be invested into FTSE companies that offer some sort of yield and where the risk is more manageable.
Its why only one broker Numis securities has full coverage of the company after being bothered to do their own research on Greatland and seeing the 'potential' of the company.
The Aussies are more clued up when it comes to Gold exploration companies having most of them on their doorstep and by having an institutional presentation over there makes more sense and will appeal to even more so as Newcrest are on the scene and RIO are the next door neighbours.
The whole Pilbara region is a 'goldmine ' !!
The stars are aligning !
That's all from me.
Nite nite.
Paddy... Sure he can raise cash in Oz, but if he feels that NCM will hold back on Hav 30% until 2021, he might want to consider another farm in for the non NCM targets.... The rationale being that they don't want to ramp up scally or goliath piecemeal on their own, but prefer to hit the ground running with another major production partner for substantial and quick multi drill programme this year...
Good discussions chaps. Thanks.
Mercman, I think your option 2 is the way to go. Keeps NC in control and GGP in the process. All happy. Remember that NC need the gold and there is none other available at such short notice than HAV. Another reason to keep GGP on board is that GGP is clearly good at what they do, finding new gold deposits. If NC was good at it they would have found it themselves (well they did and gave it up ). It is far easier to have such a successful small and agile unit work through these early stages and then get involved when they come up with the interesting targets. Well, that is what I have always believed and still do. Of course, there are other routes to make that happen but with the JV in place this is I think how it best plays out.
GH may be a money man Oldtimer, but you can very clearly see that he is really enjoying the gold digging. Maybe exactly because of being a 'money man'. Everyone likes gold. Being in this allows him to play a role on the big stage (now that GGP have brought the world HAV) and continuing this is a lot easier than to start something from scratch again. I think he will stay the course. But if not, exactly because he is a money man he will not let go of the goose with the golden eggs for a pittance, and I do mean in the long run that £1bln is a pittance (for GGP in total that is). The man believes that GGP can find more of these HAV like prospects, you can clearly see that. But if he does leave, CB will stay the course and he very much is a mining man so GH does not have to stay the course (in GGP that is) to get the reward. He should just not give it up.
The luncheon next week PG may just be that. In these circles there are many, many of these and now that the party is starting GH does what he has to do, dance to the music and make waves. It will be beneficial at some stage.
Bring it on.
MS
Tymers (And anyone else wavering)
Just google Had 5 drill results.
When you look back at some of the figures in that drill hole then it should give you a bit of comfort!
Small placing to fund drilling in our spring? There must be quite a few Aussie hnw or iis that are miffed that one of the best gold discoveries is playing out in London!
GH ruled out an ASX listing at the AGM this year so I don't think it's that.
I was thinking funding as well but doesn't make sense as he would have no problem in raising any money required here in London and hopefully if we start getting warrants converted soon then funding shouldn't be an issue to crack on at Scallywag at least.
The more I think about it the more curious it seems
At the agm GH gave me the v strong impression that he could see a situation where he is going to get tomorrow’s value today and it will happen this year.
So what do you think this "Institutional luncheon" is in aid of in Sydney & Melbourne next week??
Maybe GH will enlighten us in the RNS on Thursday morning
What if RIO were to bid for GGP's 30% and went into a collaboration with NCM @ Telfer - remember RIO have a lot of other tenements in the area and if they strike it would be in both their interests to get the second train back up and running @ Telfer.
Telfer becomes the spider at the centre of a web of satellite mines in the Paterson area - lots of majors share resources / costs etc.
Oldtimer. You need to factor in CB. This is his baby really. I do not see him letting GGP go in one deal.
Personally I would plump for mercmans option 2 -
5% of a wedge to stick in the coffers - NCM are going at this hammer and tongs so realistically what would be the time to first pour??
If Havieron is a beast then 25% of the toll treatment for the next 15-20 years - lovely jubbly.
GH will be a wealthy man whatever way this plays out - he has millions in options that he can cash in or convert and watch the dollar roll in every year.
I'm realistic and realise that this probably won't be the way it plays out as NCM won't want a junior as any sort of partner on their Telfer operation - just once GH makes them stick to the terms of the JV and we get full "FAIR" market value then I will be more than happy.
One other thing mate (sorry if it sounds picky as I know exactly what you mean) but the contract they sorted was with MacMahon and not MacQuarie
ATB - Paddy
Oldtimer, with Telfer coming towards end of production I don't think NC will be in a position to tell GH accept it or go to Rio. NC want Hav and that's a cert.
In many ways I hope that NC do make a bid, then I wouldn’t have to agonise over what to do at every twitch in the share price!!!
Tbh i dont care if its all of GGP or just HAV if its £500m+, but i dont think GH wants to throw the towel in and be a one hit wonder, I think he wants to really turn what was a piddly nobody of a company, into a serious mid tier player.
One things for sure, We’ll find out in 2020
This year is going to be fan-bloody-tastic
I've been having a ponder on that Oldtimer - what's the possibility that GH intends creating an ASX spin-off via an IPO of the non Paterson assets? That still keeps them in the GGP umbrella but new management to progress them and leave us to concentrate on the crown jewels??
Some things to look forward to over the coming days.
So we have NCM report sometime after 10pm tomorrow night - usually pretty functional with all the data required.
By midnight hopefully we will have sight of the updated 3D model
Thursday 7am - the GGP RNS which usually has a lot more "meat" on the bone as regards plans going forward, step-outs, etc.
Thursday morning - the PR machine kicks into life and we get the interview(s) - Proactive, BRRMedia.
Friday morning - Next instalment of the "PaddySat".
Hopefully then over the next couple of weeks we will be updated with the drill plans for Scallywag and maybe the plan of attack for Paterson Range East & Panorama.
Then 13th February we have the NCM Half Yearly Financial Report - There is a webcast available to view where Sandeep will be presenting -
All in all a pretty news rich period coming up - Paddy
If they dont they still have 70% and we have 30%
But judging by all the news,Drill results, media, presentations, interviews, increased drills, land grabs, broker notes, Telfer deals, site expansion, fast tracking, and step outs........gasp.........i’d say theres bob hope of this not being an absolute banger!
mercedman great post
And if they dont we have 100% of what? As I've found before nothing is certain
Tymers, we will have 30% after the farm in ends, but NC have the option to buy 5% at “fair market value” so we will either own
1) 30%
Or
2) 25% + a fat wedge for our 5% - which will no doubt go towards our share of funding the mine
3) NC will just buy the 30% for £500-£1bn and tell us to politely F-off
Personally I think it will be option 3 and we will use the proceeds to prove up Scally and Goliath as 100% owners. We could actually become an independant producer down the rd.
I can only wish you well and agreed as we all know nothing goes up in a straight line as such dont let greed cost you deeply. Secure and free ride where possible helps you sleep at night
Don't forget that NC have to pay GGP for that 5% of the gold in the ground at fair value ....that starts the debate of what is there and what would fair value be of course. Lets take real low ball figures of 3M oz at $100 in the ground - that is still $15M for 5% - of course many here are expecting bigger numbers than that and I include myself in that camp.
ATB