Member Info for addicknt

Nothing uninformed about my opinion Q, just the facts.
Hermaphroditism is also a biological fact and is not the same thing as the contemporary debate - but you'd never understand that. You'd do well to read and carefully digest Sasha's excellent post.

No Quady, biology isn't complicated - it's very straightforward and has only been complicated by people attempting to distort the facts.

lootgaloot, I really hope they don't start seriously thinking they can develop a mine. Prove up the resources and sell them to the highest bidder.

LM, at this stage the government in Ecuador will have no idea about the corporate intentions of various potential interested parties and as such they are repeating the message from SOLG.
That said, I certainly agree with you about the issue of the government putting a boot up our arse. Long may it continue.

Maybe he's a Martian and they're looking for a translator.

Agreed, RK. This is beginning to resemble the infamous "translation" farrago. I simply cannot see how it can take this long to find a suitable candidate, particularly as the AGM highlighted the fact we were going to need one.

Incredibly dull day - not even a good dust-up to have a good laugh at.

Interesting comment, but the question which occurs to me is why do we need a new CEO to start takeover discussions? Our chairman is supposedly an M&A guy.

I'm prepared to stick my neck out and say BHP will definitely end up owning Cascabel at the very least, and quite possibly a couple of the other concessions. At this stage I cannot see them being interested in the other concessions and a slice and dice process looks likely - unless they're prepared to take the lot simply to frustrate anyone else, which is a possibility given that it would cost them virtually nothing.
There will not be a bidding war - it will be an agreed deal and neither the Chinese, Barrick nor anyone else will get a sniff. NCM will happily sell their shares at a healthy profit and CGP/other shareholders will take the cash and run, as will Mr Mather.
Of course, this is only my opinion and I'd love to see a bidding war - it's just that given BHPs position and new relationship with the company, I can't see why anyone would bother.

BBG, sort of. If BHP want that, they'll get it.

I should add nuance to my comment: there's another reason why no one has bid and that's the strength of BHPs position. So, to that extent Q is right, but not for the reasons he thinks. No one in their right mind would take on BHP in a bidding war. If they want it, they'll have it. If they don't, we're all in trouble.

Q, the reason there hasn't been a bid is that no one knows exactly what they'd be bidding for, it has nothing to do with the composition of the share register.
Once this becomes less of a moving target i.e we have a pfs and perhaps an mre or two, the world changes.

And as I pointed out this morning, $500m free operating cash flow EVERY WEEK. Just ponder that for a moment; they can buy whatever they want and in our case it would probably take them no more than a month to pay for it with another three weeks to pay for the development costs. It's quite staggering when you think about it.
Eventually BHP shareholders will put pressure on the management to do something with this cash other than simply pay dividends - they HAVE to secure their long term future and, as it stands, they don't have enough in their portfolio.

are pretty impressive. They're generating just over $500m free cash flow per week, which is pretty astonishing. It can't all go on dividends!

We really do need to get the results published and I imagine the company feels as frustrated as we are.

rcgl, 'retirement'! I believe the expression is LOL!

Woody, I'm struggling to think of too many examples of companies with such exciting prospects which have taken so long to recruit a CEO and the failure to do so here is making us all wonder why.
Too many good candidates to choose from? Possibly. Too few? Again, possible. Difficulty coming to terms? Or is it that the company doesn't want the position filled? This doesn't seem likely. I certainly don't buy the "because of covid" stuff.
If I were going for it and had done my homework, I'd want a very generous options package and a very large exit bonus.

Q, I think trying to speculate as to what's priced in or not is a pretty futile exercise. As it stands, we are trading at a premium to net assets of almost 100 percent and any external observer who didn't know the full picture would conclude we are overvalued.
The problem is we, and the market, have no idea what the pfs is going to reveal. Nor does anyone know how to value what else we have. The lack of firm information makes this a very difficult company to value.

Most certainly not forgotten, but life has moved on.
The earn-in proposal is similar to the GGP situation and, I quite happily confess, is my worse nightmare. No, that's not strictly true...a really poor PFS is my worse nightmare.

I see this as very good news as it demonstrates a level of pragmatism we didn't see in the past.
We had far too much on our plate and I'm delighted the company has come to its senses.