Member Info for addicknt

As we approach our annual funding round (I'm sure the PFS was released 'early' with this in mind), I wonder what BHP's tactics will be.
We know they wish to maintain their position here, but we also know they didn't like the Franco deal and are unlikely to like any such further arrangements or smelter deals. NCM are of the same mind.
So how will they react if the company unilaterally announces a raft of deals which specifically exclude them? What can they do?
We know they weren't happy in the run-up to the last AGM, but it's feasible that DC has managed to repair the damage. Nevertheless, we have a situation whereby a major, but minority, shareholder wishes to exert control without actually being in a technical position to do so.
I think we can assume that if the company merely goes for a normal placing that they will invite BHP/NCM to participate - it would be madness not to do so - unless the intention is to deliberately goad them (Mather's tactic). But this still leaves the thorny issue of the broader finance package.
Does the company seek to involve BHP in a package which would afford them participation but not control? Of what use would that be to BHP? Why would they want it?
I'm guessing these issues are being addressed by the board, but it isn't an easy square to circle.

Bozi, as I said in my original reply to Q, I fully respect his right to his own opinion and these days I rarely bother to engage with him on the issue, but I do have a problem when he decides to insult everyone who disagrees with him. That's all there is to it, really. I feel much the same way about Slug - he often talks sense, but spoils it all with rabid personal insults.

Q, re: agm. And still your delusion continues. Extraordinary.

Oh, by the way, who can forget your interpretation of the fateful 2020 AGM? According to you it was a triumph for Mather and were convinced nothing would change as a result.
How does this fit with your narrative that you are always right and everyone else is wrong?

Q, as far as I'm aware I was not one of those who claimed a specific date would immediately lead to a bid - merely that various hurdles were being cleared making a bid more likely.
There are a myriad of reasons why a bid hasn't happened over the past five years, not least of which is that no one really knew what we were sitting on...that has now changed, as has much else.
p.s I know you're dyslexic and, having a son with the same problem, I'm sympathetic, however, you've had a long time to learn the word is corporate not cooperate. And yes, if you'd actually had board level and corporate finance experience you'd find your understanding would be greatly enhanced.

I'm following a very similar strategy.

RK, I held a lot of LGEN which I got bought as the market collapsed in 2020. I held for 18 months, got a great divi and then sold at a smidge under £3 and am glad I did.
Having said that, they are one of the best shares to hold for us retired types and should be a key element of any pension plan. I'll buy back in due course. If BHP was not so cyclical, at their current yield I'd load up on them as well.

RK, I share your concerns and, like you, am holding a fair amount of cash, which I don't like doing, particularly when inflation is roaring away.

Q, I genuinely believe that sometimes you really do not understand what you've written. Your post at 20:27 couldn't be clearer: 'so many people on here don't understand what a bid would entail...' This clearly implies you do and no one else does, what other interpretation is there? unless you were including yourself in that description? You go on to make several other observations which again suggest you are in unique possession of understanding and everyone else is wallowing around in a murky pool of delusion.
I'm sure I'm not alone when I say that you're perfectly entitled to you view, but the problem lies with the way you insult those who hold a different opinion.

Q, post of the day! A classic Quadyism. 'I'm the only person you truly understands corporate life, the rest of you are fools' Great stuff!

RK, in the absence of a bid we should all 'want a cash raise'. We'll be bust without one.

RK, I did see your analysis and agree with you...a fund raise is likely by the end of June, which in my book is soon.

Incidentally, the conversation with CGP would have been fascinating. The company promised action to produce shareholder value, which in a way they have - via the PFS. However, this hasn't led to a sustained increase in the sp and I wonder what CGP's current thinking is. Now that DC has stated openly that's he's receptive to bids, I wonder if that was sufficient to keep CGP happy?

RK, exactly. Previous roadshows have seemingly produced limited interest, but it's different now. Having said that, I can't see anyone buying in the market when they know a placing is due soon.

"some of our largest investors are in North America"...indeed - CGP and BR.

RK, agreed, it's an absolute mystery as to why they haven't found a CFO. It's not as if they're difficult to recruit - although good ones are as rare as hens teeth.

Q, Plan A begets Plan B. Even the CEO has admitted he's receptive to bids.

presentation. The thing which came across loud and clear to me was the professionalism and competence of the team. DC appears to a very grounded and knowledgable bloke and I was similarly impressed with Ingo - although he understandably fudged the funding answers.
What a contrast this lot are to their predecessors and it was interesting to hear DC state that further corporate governance issues are currently being addressed.
Al-in-all this was an excellent presentation.

this share just became one hell of a lot easier. The Lasso election was a similar milestone, but this is even more important.

the slide rules are being taken out from the bottom drawer of the desks in the BHP M&A department. The team will have one brief: what should our opening bid be?