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@Tymers "Holders come on! I noted GH selling in advance of any notice and forecast a figure of 50 million , it was thrown out by the ones now trying to explain it."
I think I'm doing some explaining, and I don't think I ever threw that out. It was always a distinct possibility, though back then it was mere speculation.
@dave "tmt...he would not have exercised so many options to pay tax"
I think you misread me. It is (IMO) almost certain that he sold at least some of those 27 million to pay the tax he incurred when he exercised the options. Under Aussie tax law the difference between 2p (what he paid for the options) and 20p (market price at the time he exercised) would be taxable, if I understand it correctly. That would mean he would likely sell somewhere between 25-40% of those shares, after exercise, just to pay that tax.
As stated, I think it is probable that he sold (or is selling) all 27 million of those option shares. I would, personally -- 40 million (£8 million+) is more than enough to hold in one asset. (I wouldn't be pumping whilst doing so, but that's another discussion.) But I'm virtually certain he has sold at least some of them for tax purposes.
Whether he has sold some of the 40 million is mere wild speculation.
Davielad...with respect I do not bombard the board - far from it and my views are my own....if you don't subscribe to them, then that's fine...I of course will NOT abuse you or others for doing so....would be good if other posters adhered to the same equal ethics!
Even if GH offloaded all shares and options, it could be churned in a matter of weeks. We’ll understand sooner or later, and continue the journey onwards and upwards.
@007, with the greatest respect, all you are doing is bombarding the board, with your unsubstantiated theories and speculation, without offering any evidence to support it.
It is if I may say so, singularly unhelpful.
It’s like banging my head against a brick wall - I didn’t ask you to apologise to me - I suggested you should apologise to the Board and to GH for your misleading and inaccurate insinuations on GH’s selling record. Either you’re man enough or you’re not.
Tymers, not that it matters but not everyone discounted the possibility.
Good luck to us all.
Why would I apologise to someone who is unable to look at all the facts...why would I apologise to someone that is abusive ....will you apologise if I am right...no I very much doubt you will....you will be ramping some other angle...something along the lines - GH worked hard and deserved to sell all his shares....which by the way, I still subscribe....now jog on and abuse someone else
Tymers you are waisting your time on these lot
You weren’t posting the obvious 007 you were giving it large, showing off that you know more than others when in actual fact you were misleading and inaccurate and at worse undermining the reputation of our previous CEO. No apology then??
Holders come on! I noted GH selling in advance of any notice and forecast a figure of 50 million , it was thrown out by the ones now trying to explain it. This is not a negative it is just reasonable conclusion to tenure and the options that were visible to all! Do you look?
tmt...he would not have exercised so many options to pay tax...thats fact...anyway time will tell....so many here quick to jump down on others who post the obvious.
TMT, many thanks for your excellent and well constructed response. That all makes perfect sense to me . I am sure that any adverse impact on the SP from any sell off by GH will be short lived.
ATVB
Davielad
TMT, speculation, but I do not believe wild speculation, if correct or thereabouts hopefully done or nearly done.
Very clear TMT and thanks - the difference between accurate posting and a misleading one!!
Tmt i like your posts no speculation only facts and you listen to other views
@Davielad
It is known that Bloomberg reported GH as having 40 million shares as of 31 March. That was down 34.5 million on his previously reported holding. I have not had access to Bloomberg recently to see if they have an update. It is remotely possible that those shares have been transferred to some kind of family trust or something, but it is certain they are no longer held directly in his name, and it is highly likely they have been sold. The SP behaviour between his leaving GGP and 31 March would support the view that someone was selling.
It is also known (from RNS) that a "former director" has exercised 27 million share options. That is GH. So he has purchased an additional 27 million from the company (at very low option prices).
It is almost certain that he has sold some of those shares to raise the cash to pay the tax that would be due upon exercise of options. It is likely, in my view (but this is sheer speculation), that he will have sold all of them, and that 40 million is his intended holding going forward. It is a nice round figure and one that he would have known would be reported, and that the market would know he had sold. If he intended to hold more than 40 million for the long term, I do not think he would have sold down to 40 million. I suspect he has sold or is selling the remaining 27 million. If that is the case I suspect that his selling campaign has either ended or will end very soon. I personally think recent SP behaviour is consistent with continued selling by someone after 31 March, and GH seems like a likely candidate to me.
It is possible he is going to sell down lower than 40 million, but that would surprise me a little bit. He knows the case for GGP.
Much of this post is speculation. I hope it is clear where I am stating fact, where I am speculating, and the reasoning behind my speculation.
but when you have a troll who has no investment in our company and given his track record one can’t help but to fear the “trolling route” - I obviously don’t know - just trying to understand all 007's commercial options - as Sandeep at Newcrest has always stated - any investment has to accretive- let’s hope 007 acts like a grown up investor - unfortunately I have my doubts !
You don’t get it do you 007 - you’ve just admitted that your previous comments were speculative about whether GH is selling out because you are now asking “what if I’m right and GH is selling his complete position”. You have just been outed for posting scandalous inaccuracies because you don’t actually know what GH has sold if at all, do you?? If I were you I would post an apology to the whole Board and to GH admitting you know nothing about GH’s selling record and you have unfairly insinuated that he is selling out of GGP altogether. But of course you won’t apologise will you, but I can just hope you will stop giving it large in future and will think about the accuracy of what you post BEFORE you post it, because I WILL pick you up on it!!!
Redirons - if I’m right and GH is selling his complete position then what?
Tymers hopefully - but I’m happy to hit my target of 60p - maybe sheds more if we discover anywhere other than Havieron
Don’t be waiting for an RNS....he’s left - naive or just stupid - I’ll give you the benefit of the doubt because I’m kind
Daveri 200% undervalued for Haverion is an u understatement to say the least but hey it's not long to go before ore with significant Gold is moved to Telfer we just happen to own 30% of currently. It does not take a Mathmatician to come up with true commercial values thus GGP mcap
Scandalous conjecture and speculation - that’s why I outed 007 to either prove it is fact or to stop posting inaccuracies.
Can I ask, if it is known for certain that GH is in fact selling out?.... Or is that conjecture and speculation?