Member Info for antigua18

Haha speedy, great analogy.

How would you describe NCM’s refusal to issue Mre2 and no longer issuing the 6 weekly results and describing the resource upgrade and the 5% negotiations as not related then?

YNWA91, you may well be right, the endless attack on the share price has been draining to say the least. The longer they drag this on the more some folk will look to bail with a decent rise. The share price is so controlled at present it’s difficult to see a breakout from the current range. Fingers crossed the 5% will be a catalyst to a higher share price.

I don’t much like Newcrest’s behaviour of late, or rather SB’s. He seems to have changed and become arrogant towards us. I know it’s business but feel any new discovery would be better after the ‘Feasibility Study’ allowing total focus on current discussions. My personal view is we gave far too much of Juri away and I suspect the 50mil funding was used as leverage against us by NCM and give us a poor deal.
That said we have a different leader now, so hopefully things would be very different. I would prefer HAV and any future discovery to be kept completely separate. SD has already hinted he may be up for doing a future deal with the current HAV JV regarding Scally.
If we had has Stella results for Scally this would have complicated things. IMHO

On which point Costa?

For the avoidance of any doubt, I would love a new hit at any time rather than not at all, haha.
An ideal time would be after the Hav FS when things have calmed down. That way it could be viewed with fresh eyes and without NCM trying to bully us in some way.

YNWA91, That’s a fair point, definitely would be great to see the shorts roast with another discovery. However we would become takeover target number 1 and would never realise Shaun’s vision of becoming a mining/explorer. With a share price at many multiples of where it is today would still fall far short of the true value before someone made a move. As we know it takes years to drill to find out the scale of a discovery.

It all comes down to what Pi’s want, a quick return on profit or a slower steady rise to new highs. Although it’s in our hands I suspect the majority would sell at the right price.

YNWA91, I didn’t say I was glad, I said it was probably for the best and my reasoning is it’s not the best time if you read the post correctly.

Napthman, what you say makes sense, although it would be difficult to see how we could prevent a takeover rather than a JV. Inevitably the share price would spike and lead to profit taking short term and then in my view we become a massive target.
Newcrest would have to pay considerably more, but our dreams of becoming a mining company would be well and truly over.

For me it’s all about timing, it may be a strange thing to say but it’s probably for the best that they haven’t hit the sweet spot. We are still trying to get a handle on what Hav is worth and all GGP’s efforts are rightly focused on that. As lovely as it would be, Do we really need the distraction, albeit a nice one, especially when our share price is way undervalued. Arguably, any find would be better at a later stage rather than leaving ourselves wide open to being taken out too early and not getting true value.

Ok, thanks.
Wished I had been able to attend, but glad someone such as yourself did, no doubt you would have asked far better questions than I or many others would have. Perfect chance to challenge a CEO on his vision for the future over a sandwich in a relaxed environment. Not something that happens too often.
Thanks for sharing what was discussed.
ATB

Are you having a pop at me there Bamps?

It’s good GGP are being conservative as it gives little room for any accusations being unrealistic.
I wonder if Newcrest are starting to wish SD hadn’t been appointed, he certainly doesn’t come across as someone who is intimidated by the big boys.

Hi Bamps, did Shaun give any indication that Newcrest may want the lot or could the deposit be too big for them to make an offer?
I know it’s questions that probably didn’t come up, but sometimes meeting face to face can give clues to what people are thinking.

Although I don’t agree with your assessment, I do get the impression we may be underwhelmed by what we end up with.
Some food for thought, if we went to an independent company then they would possibly use the Valmin code, which would take all drills to date and account for some limited future growth. Since both companies seem keen to avoid then it’s entirely reasonable to expect both companies to meet in the middle somehow, along the same lines.
IMHO

It’s difficult for any of us to put a figure on what the 5% could be since there are so many unknowns. SD has gone to great pains to indicate we may not get true value. However my take after today is that he is possibly referring to potential overall size, which of course will take years to ascertain, so true value can never be realistic for the 5%.
Best we can hope is Fair market based on December results, that’s what make NCM’s approach all the more annoying since they don’t want to pay that, even though as night follows day it’s going to get a lot bigger in time.

Our MRE will be included since the cut off date was the 15th December and our updated MRE is based information up to the 5th, hence why we chose to release our own resource upgrade and pull Sandeeps pants over his head.

Agreed MFU, very underhanded by NCM and gives clear impression of them trying to withhold information. Something that some on here here fail to grasp and instead call a conspiracy theory.

Johnson and Lenigas, two peas in the same pod, pump and dump merchants

I’m sure he would feel comfortable in answering you, as he doesn’t seem to shy away from questions.
I was unsure when he replaced GH but think since then he has more than added to the company. Not necessarily in share price terms but that’s largely out of his hands with everything that’s unfolding. Further more, he is clearly showing his credibility in how he has dealt with SB’s change in behaviour.
Don’t think we could of asked for more at this current time.