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Quady, what do you mean by they'd have to start again? They wouldn't. If you buy a company, all of the IP comes with it. So, if it was post PFS, the blueprint has been prepared and a buyer can simply refine it and provide its own input for far less cost.

Morning, Quady.
You say you'd expect a bid after DFS, if one emerges. I'm pretty sure this is wrong, as was explained by one of those bankers who was quoted last week.
No major need a DFS produced by someone else - they have their own in-house teams, who'd they'd inherently trust more and who'd be able to complete it for much less.

Jerry, even it did only reach your suggested value of circa 50p, many of us will have made a significant six figure profit - you included, I would guess. Not too shoddy for an investment of this nature.
Were it to reach a pound, or just over, we are talking a seven figure profit. It seems to me, this asset is worth at least £2bn + to BHP and therefore a pound or so, looks achievable.
When I read people's posts saying they wouldn't be happy with a seven figure profit, it makes me weep with laughter. You can pretty much guarantee they've never made anything like that before and yet they have no idea of just how daft they sound when turning their noses up at such a significant result.

Quady, your faith in what NM has said is quiet touching. There will never be an offer at what you regard as full value, nor anything at remotely close to it.
NM will do his best to negotiate a "fair" price, but who knows what that is. He will have his own idea and it remains to be seen what that is.

I think the only thing we can say with any conviction, is that currently the company is significantly undervalued.
Quady, I understand your thinking but, as you point out, it's pie in the sky stuff and personally, I prefer to base my investment decisions upon something more concrete.

Morning Quady. I was trying to understand the definition of full value which you've been talking about for months.
In any event, trying to predict what a company will be worth in 10 or 15 years time is an absolute waste of time. There are simply too many variables to make the exercise worthwhile.

So, you've put your cards on the table; your idea of "full value" is £28 per share, or circa £60bn. Have I read this right?
I'm fairly certain you must have written this when you were asleep and enjoying one of those dreams in which you've just won the Euro Lottery. Either that, or your doctor has prescribed you the wrong tablets.

You really are making a mountain out of a mole hill.
The idea that BHP, or anyone else for that matter, would even be aware of this, let alone take it seriously, is simply laughable.

I think QPP takes some beating, particularly as it was a gigantic con. At its peak - just before the collapse, it was worth over £2bn - shareholder value that disappeared almost overnight. Fortunately, I managed to salvage 60% of my cash by selling the moment I saw the revelation from Gotham.
I learnt two main lessons: 1) if one of these "research" outfits produces a critical report, ignore whether you think it's true or not - hit the sell button asap. And 2) look very carefully at any director sales. Rob Terry did a masterful job of dressing his up as buys and it took people a long time to unravel just what he'd done.
There are far more charlatans out there than we imagine and it pays always to be uber-sceptical of any board of directors. You may think you know them, but you don't.

Quady, not so sure your posting history would confirm that, but never mind.
As I said last week, "full value" is a meaningless term.

I recognise that amongst the Stickers, some understand that a bid may emerge (Quady is a late convert to this way of thinking), but would prefer it not to happen. However, there are some who believe a bid will not even occur. Can I ask why you feel that way?
It's abundantly clear NM does, so what is driving your thought process?

iceberg, you can add the other five or six advisors who've been taken on - particularly the proxy specialists.

BBG, absolutely - Mather's wishes will not enter the equation.

Colonel, we've talked about a jv of some with BHP before and it's certainly possible to envisage, were it not for one thing: NM.
He has consistently said he will not allow the company to end up as a minority holder with no control. It should also be said that this route would be highly unattractive for us private investors - as far as shareholder value is concerned, minority stakes rarely reflect true value.
Of course, the other aspect is that BHP will not want a minority partner. Why risk their own money in order to allow shareholders of another company's shareholders to benefit? Btw, I'm not sure I understand your comment about "doing a deal with Citi...". They are only advisors.
Zoros, if by twist you mean sell, you can count me in.

Not a chance, old boy. There won't be a DFS.

The only interesting point about this is that the market has absorbed those sales without any major disruption.
Aside from that, well done to him for making a packet.

Quady, over the past few months your position has subtly altered. Initially, you completely dismissed the possibility of the company falling to a bid - now, you recognise it may. It won't be long before you become a fully paid-up member of the Exiteers club. All resistance is futile - come and join us, life is so much better over here.

TTB, I understand your point but politely disagree.
Newcrest's future, to a very large degree, revolves around Hav. It will do everything in its power to ensure it has full ownership. If it fails, it may as well kiss goodbye to its own future as an independent company.
Of course, this is good news for us.

I fail to understand why some people think anyone other than NCM will end up owning Havieron. That ship sailed the moment the deal was done with NCM.
The only question is whether they will want to buy the entirety of the project (which I think they will), or whether they will be happy to have us as a minority partner.
The next question is, will they buy the whole company? My view is that until we've seen the true picture regarding the rest of our concessions, they will not - and neither would it be in our interest to sell them until such time as they are proven.
This is all about our board negotiating a full value for the remaining percentage - and I'm confident they will.

announce their results this week.
I suspect we'll see nothing more than a passing reference to SOLG, if that. They will be keeping their powder very dry. How I wish I had a bug planted underneath their boardroom table.