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Newcrest has added £310M to their cash balance.

MCAP Vs Results = shareprice reaction

If anyone knows what the exact situation is, then it's Newcrest. I pay particular attention to their actions, so when they increased their cash balance from $800M to $1.4bn (knowing their balance sheet performance is already strong). I decided to take out a slice and pay my mortgage off. Whatever happens here I'm ready.

I've been involved with GGP from pre-Newmont non disclosure fiasco.

Recently, I've taken some of my profits and I'm going pay my house off. What a great feeling & psychological boost that is.

No secret, I don't like GH but thanks for house :)

Alternatively, let's just say it's a massive find and to prevent a bidding war, Newcrest offers GGP a down payment whilst they prove up the whole project.

50p is over £1.8bn, Newcrest has made available $1.4bn in cash and somewhere in there is your /everyone else's answer.

Just another 12.5% to my 10p before news prediction.

Looking forward to seeing how big the balls are of
other holders with the shareprice in double figures :)

Surprised , thought more investors would have bought in for Monday morning RNS drill update. 80% chance of success well worth a punt IMO

Shareprice will be 10p before news.! Roll up.. Roll up

ESL is already a Cash Shell investing company and the reverse takeover was the PIK loan. As per AIM rules 8, 14 & 15.

Newcrest were already running around 34% increase in free cash than the previous year.

If their balance had been around $400M then I would buy it but not off highs.

"to improve working capital to shore up their balance sheet to get them through these hard times."
That's exactly right but not for Newcrest as their working capital and balance sheet is already at the higher end of their spectrum unlike the companies you have mentioned.

Newcrest for the last five years, has consistently kept $500M - $800m in cash. Now they have drawn down another $600M on top of the $800M in cash making $1.4Bn . (With another $1.4Bn available to draw on)

Now some people are saying that they have done this to see them through the uncertainty in these times, now my counter to this theory is that I don't see any other companies doing the same.!

The thing that really stands out, is the placing at 3p and today's shareprice is well under that threshold.

From 20th November RNS:

"The Company has been informed by DBAY that, following discussion with the Company's Shareholders, DBAY intends to provide the Shareholders with the opportunity to participate in an economic interest of up to 49% of the PIK Facility as soon as reasonably practicable (and in any case within 6 months) following Completion, "

So the ESL shareholders were in discussions with Dbay or in other words had a word in their "shell" like.

Tinkler / Wincanton doesn't look totally out of the picture to me.

Truth, it's not ESL that is entitled to 49% of PIK loan, it's ESL shareholders.! the likes of Mr Tinkler & co

If the PIK loan is classed as a fundraise, then according to AIM rule 8 as an investing company, the PIK loan itself is classed as a reverse takeover for a cash shell company.

If you can't see a downside then I suggest you get the biggest loan out ever and just keep buying.!

Truth, I doubt ESL will sell their only real source of making a profit, as their debts are manageable. Dbay will reorganize the balance sheet and we will see what their plans are

The company is doing better than could of been forecast, shareprice needs to catch up, the end.