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CEO’s of multi-billion $ companies are usually very careful in their choice of language and therefore are not to prone to exhorbitance without full and transparent justification due to oversight from BOD and compliance/legal teams. So, we can be relatively confident when SB says the sulphide zone contains 10x Telfer grades, the analysis from the cores and numbers evidences this. Does anyone know if there is any connection between Hannam and GGP, even loosely as I am curious to know why they chose GGP. The obvious answer is that it is one of the most exciting new prospects in Australia for some considerable time but just musing if they have any connections with those close to GGP or even NCM for that matter.
I am finding you lot incredibly amusing as you all post together in support of each other’s statements with a similar style ( apart from McLean ) and do your best to see off others so you can pat each other on the back. You behave like members of a public school investment club with humongous egos but probably enjoying little success in other walks of life which is why the chip on your shoulder is so damn large meaning that you can’t walk in a straight line. It is laughable even more so as SLE is one of my best performing stocks over the past 3 years and I banked another nice profit cashing a small portion of my holding earlier today. Thank-you OF for bailing Tosca out of a pickle you must feel grand! I look forward to making further gains here in months to come and watch other new investors come and go on here as a pointless exercise. As a parting comment, I bet you lot are a hit at parties.
So, ‘know it al’s’ theory is that the mighty Tosca Fund needs £20m so badly it sells a chunk just at the point of turnaround for SLE. The band played ‘ believe it if you’d like’. You really need to try harder than that - you clearly know a lot less than you think you do. Not complaining about the early rise but it will fall back so no need to get too excited just yet.
Well, no surprise there then and Tosca keep their head just above the 50% waterline. What is more important to know is why would they sell down at such a modest price at this time? Now, I have no appetite for musings from all and sundry or the resident know it all, but I do have the appetite to hear from SLE employees ( in disguise of course) who actually know the strategic rationale. Of course perhaps we may see another appearance from the Big Man himself talking to that highly acclaimed investment guru, Tom Winnifrith :-) or perhaps a Zoom session with Malcy?. The mind boggles but I will resist musing and simply sit back for the share price to tell us the answer.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SLE/14536031.html
Indeed Condorlini as that would only get us to the latest conservative estimate of 12p value from Numis. It would be good to know the basis upon which Numis have calculated this price ie. Xm Oz so we could compare their assumptions with future worked drilling results. Some on here suggest they have read the NUMIS report but have chosen not to share which is of course their prerogative. Reality is however that longer term this does not matter as we can rely upon our dynamic duo to ensure that full value is attributed to what is down there when negotiations get dirty. It seems to me that the key to maximizing value here is proving a significant resource say 10m Oz, independently verified, at an average grade across the deposit of >1gt which would start to make headlines as they only come along every few years. All taking shape nicely despite the inevitable ups and downs as this is AIM and anything goes as we see day in, day out.
NCM will be fast -tracking the MRE in order to be able to shout about Havieron ‘officially’ . This is when serious investors will start to sit up and commit IMO. In the meantime sinking a few drills into Scallywag with the support of the indigenous people is a quite a big deal for life after Hav is bought by NCM.
https://www.proactiveinvestors.com.au/companies/news/919151/decline-in-major-gold-discoveries-over-the-last-decade-as-explorers-focus-on-known-deposits-919151.html
Magictrades - many thanks for this extremely informative and selfless teach-in on the geology within the Paterson province. It seems to me that in Calum Baxter we have a pretty shrewd geologist on board and with GH’s commercial and financial background we have a pretty formidable duo looking after shareholders interests. I felt that some of the negative comments about the presentation yesterday were reflective of ignorance and short term objectives but he knows better than anyone the potential that GGP is sitting on at Hav and adjacent tenements. Very much appreciated which will help me to interpret forthcoming reports better than previous ones!,
Just to be absolutely clear, no offer was made by RRE. They were contemplating an offer but it never materialized in the end. It was opportunistic and rightly, rebuffed in no uncertain terms. I say this, comfortably, as a RRE shareholder with similar investments in both companies although I am nursing a large paper loss here!. RRE are keen to acquire gas assets with their significant war chest but time will tell if they attempt a proper offer here. This is most certainly a medium ( 1-3 year) hold for me and with CalE’s presence, the BOD are pretty well protected on the face of it from any unwanted attention. CalE could step in and secure a deal if they felt that their plans to add value could be usurped by a new owner of the equity. I agree with others here that the recent update was good but sadly, notwithstanding this, little interest in IOG equity and retail investors IMO will look at CalE’s participation at project level and the block held by the Administrators, Smith and Williamson and LO and simply move onto more exciting opportunities of which there are quite a few around. Weird times in all financial markets these days so always hoping for a left field announcement to boost our ailing share price but failing that I will not sell a bean here any time soon.
Gullible - you are Somewhat missing the whole point. There are no fair comparisons to be made here. Berkshire Hathaway have been watching the potential impact of Covid-19 closely and have realised in recent weeks that government policy around the Globe is such that the effects on airlines and travel particularly are going to be felt much more severely impacted than anyone anticipated reference Ryanair, IAG job losses etc etc. Beetham wanted to sell into a rising market to pursue another rainbow and chose to mislead IMO. My last comment on this subject.
Mercedesman - you are on the money with that post my friend. What others will also roll their eyes about is that Beetham’s ego truly has no bounds as he tries to self-justify his own glaring flaws by comparing himself to Warren Buffett ( if it is good enough for him........) - funniest thing I have read all week.
So, the spiv trolls have arrived here so best to do something else today IMO. When a share has superb prospects and has dipped on news they arrive on mass to do their thing with a view to getting in for their 10%-20%. Why are they attracted to a share like this? Well, it may be something to do with the fact that there is a significant upside potential and so if they are successful in bashing after a good rise, they will make money - simple. Irritating to watch their games so I am off out to do some work on the garden otherwise my filter button will be burnt out! Oh, and another thing, when this rises next week they won’t be seen for a while until the next time.....
Beecham - I think you said that you were 90% certain that a buy-out was likely at 11p not that anyone listened to you. Now, I am rarely 90% sure about anything these days unless I am in control of the decision process. You may not be surprised therefore that you have limited credibility as this is the second spurious line you have peddled here. I wonder was Gervaise would think of your comments if he was made aware of them as he has invited you to take up warrants yet are content to peddle third rate rumour on a chat room!
I think that the market makers are asleep on RRE, this is what I call a delayed reaction. If AA plans to say anything new tomorrow at the AGM he will have to put out an RNS beforehand. I imagine that he is grinding his teeth at the moment!
Yes I must agree that I find the markets reaction to this share difficult to explain. my rule of thumb in situations like where there is such a big valuation gap as we see currently is to continue too add which I have just done again.
Spymaster that is incorrect. Listed companies receive approaches all the time and may discuss offers for weeks or months but they never quite get there. so to say that as soon as an offer has been received you must notify shareholders in incorrect. Now, if a company is in talks and this is leaked to the market causing a spike, at that point The UK Panel on Takeovers may insist that a statement is made clarifying talks. Now, there is no false market here as far as I can see and so I suspect this is spivvy BB talk. Still excited about news tonight.
Another 500k Just now to add to my pile. Despite all the posts over the weekend from folks saying they won’t be selling some will have been selling, no surprise there, and some of course will be true to their word and will be holding or indeed, buying. Reality is that with 3.8 bn shares in issue and so many in retail investors hands, most of whom will not post on here, there will ALWAYS be a big churn in GGP. No need to run through why I am buying at these levels as it is obvious and those who have been around the markets for more than a few years will know that buying opportunities will always present themselves with our share register until II’s come on board with decent sized stakes. Excited to hear about the next instalment from SB/GH.
Bluerill - good job in keeping the lid on your self importance ( tongue firmly in cheek at this point) and for a measured and realistic post, particularly about it taking time for the penny to drop with serious investors. Now, it may be that SLE is simply not on their radar yet, that some are waiting on the Nigerian government to unlock more significant payments to the operators ( oil prices need to lift from here) before they wade in or perhaps the recent history of SLE has frightened some away never to be seen again. Whatever the reason, our CEO needs, IMO, to step up to the plate and show display greater energy in encouraging new money to invest here. The free float is small in relative terms so the share price can move quickly with steady buying interest. SLE will not sell itself as it has been overlooked of late so I am pleased that OF appears to be starting on the charm offensive which can give current investors a sense of optimism here during what has been and still is, a torrid time for the O@G sector. I remain forever hopeful that others will see the potential across this year and next.
Well PC01 I have half a mill of these in SIPP/ISA's so tax not an issue for me personally but it will be for some. TOSCA will pick up a little under £20m and they will have smart tax advisers helping them out so not an issue for them either. As you know it is not all about this dividend unless all you are planning a 3-week quick in and out trade.