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I noticed its ANZAC day tomorrow (public holiday), hopefully GGP will still get something out!
Correct
John - it is not a matter of being put in "creep mode" (or deliberately make the asset less attractive) but more that key decisions are not being made whilst negotiations are taking place. Thats all I have got to say about that.
John my opinion is that selling Telfer + 70% Hav + other Paterson interests is complicated. Otherwise if it was easy a deal would have likely been agreed by now. Newmont made it clear they wish to divest. And we have had news of various parties being onsite at Telfer the last month, including GGP.
All we can do is wait. Also Shaun cannot inform us either as it is highly sensitive and not in our interests to discuss what is happening behind the scenes publicly, until it is time to make a public annoucement.
Winner - no comment đ
Johnpwh - you may be a correct, however the last time I expressed an opinion some cloister ( an Irish expression and definitely not a term of endearment ) took exception to my views. Signing off. Will monitor the discussion board and no doubt read more infantile entries in the future.
Why would Newmont be in creep mode when they are trying to sell the asset? They would not deliberately make the asset less attractive, the opposite in fact. They would attempt to add as much value as possible.
Acechaser....your not BIZWAS are you, come on you sly devil admit it :)
Reported Bertiesboy post as abusive to moderator.
I agree Acechaser. The lower Aquifer has not been the issue, Newmont are the problem. Once they decided they were divesting Havieron in October 2023, the work went into creep mode. SD has to be polite and grease palms so as not to upset Newmont.
having worked in or around the mining industry in western australia (1982-2001 between stints in other industries) and gained extensive experience as part of a high level project team (jv han**** prospecting/iscor 1998-2001) developing a large iron ore deposit i can assure all and sundry that the time frame for hav's development (up until the newmont takeover) is extraordinarily quick. to give you an example the project i referred to (i will not name it as it will give a clue to some as to who i am) had its seed planted in 1996 and did not reach mining (by an mining major) until 2005.
for me newmont have been a "spanner in the works" from day one and i have said so at every opportunity. yes we have mining issues going on but i can assure you we would have been a lot further down the track (i include the aquifer issue in this) if they had of not shown up.
which takes me back to my original point being the speed at which our project had moved.
although my patience is being tested i have been around long enough to know that everything that can be done to get newmont out of the picture is being done as we speak.
i am looking forward to the pending announcement that will tell us that that has been achieved.
If you want to see news everyday, buy a newspaper. this is a business that is still growing, it takes time and as it is has already been fast-tracked to where it is today.
you sell because you need to, you buy because you think you will make a profit or your collecting to increase your stake.
SD can do 2 things, tell us we are moving forward or put his hands up, say its gone wrong and blow up his reputation.
far too much whinging on here, some blaming others or looking for answers they wont find.
decide yourselves what suits your own strategy and goals
Sirmark, could you explain what you mean by 'selling forward'? Thanks.
'The larges sells are ringing alarm bells to me...'
IMHO that's what they are doing, creating fear to get more people to sell for their masters to hoover up the sells. 5m sell did nothing to the SP still 5.7p to sell. I may be wrong but patience is still required.
As always DYOR and GLA
The larges sells are ringing alarm bells to me, I am a holder but having seen the trades for the past few weeks constantly walking it down looks very much like they are selling forward maybe... no evidence other than experience... but also looking to buy more.. just seeing the 1mln's and 5 mln's doesn't install confidence.
There is nothing to report and their lies the problem!
So tomorrow 7am we expect the GGP Q1 2024 quarterly update...
From report, I found this interesting "may cause such divestitures to occur later than expected if at all.", it will be egg of face if they do not get the funds from the sales they expect.
"Portfolio Optimization. The announced portfolio optimization includes expected asset divestitures and expected portfolio re-sequencing and thus are expectations and thus âforward-looking statementsâ subject to risks, uncertainties
and other factors which may cause such divestitures to occur later than expected if at all. Because the proceeds of any divestitures are estimates, and therefore remain subject to negotiation and agreement with counterparties, such
estimates are necessarily imprecise and are based on numerous judgments and assumptions. Enhanced cash flows are âforward-looking statementsâ subject to risks, uncertainties and other factors which could cause enhanced cash
flows to differ from expectations."
I would like to see others comments on the AISC figures for Telfer
Https://s24.q4cdn.com/382246808/files/doc_presentations/2024/Feb/25/newmont-first-quarter-2024-investor-presentation_final.pdf
Unfortunately I couldnât find anything useful regarding Telfer/Havieron apart from the AISC figures.
Maybe when they do their Q&A session they may say what is happening about our project.