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It’s curious that dilution is causing so much angst when it was dilution that turned this from a bleeding dog of a share into the cash generating behemoth we now have.

The pivot towards the ASX will provide deep pools of capital. I think Shaun knows markets and will know that there will need to be plenty of positivity and also a very strong justification for any future raises, but it doesn’t make me intrinsically terrified of any future dilution if there is a route to speedjng up ahead.

Yes there is probably a route to Hav first pour using only Telfer funds, but it could be slow and then the whole opportunity/time cost comes into play.

Think we just have to trust SD on this one, he knows also that he will only win II support if trust and track record is intact too. So far he’s played a blinder.

In all the SP/Tymers guff this amazing interview has got lost in the wash.

Another stellar interview in my view. Not afraid to ruffle a few feathers to increase productivity and hold people to account.

But for me it was the look in his eye when he says GGP is number 1 cash generator in oz. The guy genuinely has northern star firmly in his sights and thinks that one day, before long, we will be bigger than them. I think that’s his aim. That kind of ambition is exactly what we need.

Hold for gold!

This man understands MARKETS.

Nail on the head Daz. He will want the ASX listing to come with a fanfare!

Goodness me I wish people would read the post properly! I’m not suggesting that 200 million shares will change hands post consolidation.

I’m done trying to clarify the nuance of my post if people ain’t going to read it properly.

Hey Daz,

I know that, they will al locate x capital.

But what I’m saying is with so few shares in issue it’ll make the price very sensitive to buying pressure.

I’m not suggesting that funds will spend any more or less as a result.

Just musing over the weekend about the consolidation. A lot here were talking about 5/1 or 10/1 consolidation. We’re getting 20/1 so a massive concentration in terms of the floating shares. I think this is Shaun’s gift to long term holders, and I’ll explain why.

Now if Shaun gets this right, and the confluence of high gold price and positive newsflow continues, the price action upon listing could be really quite explosive given that there are so few shares in issue on listing day. If Shaun executes there will be a lot of buying interest, and relatively few shares to go around. For context, we’ve had a few big days recently which have seen 200 million shares change hands in a single day. Post consolidation, that would equate to 25% of all shares changing hands! So liquidity and availability of shares could potentially be rocket fuel if the listing goes well.

You’ve seen the likes of 3,400% lifts on opening day with big NYSE listings. I think those sorts of numbers could be a tad ambitious at this stage, but don’t be surprised if you see an almost instant re rate (and some volatility to boot) IMO.

Rkama

Agree regarding China buying but I’d wager it has orders of magnitude more gold than it is officially declaring.

As it’s a cross listing the shares will be pulled from the same pot, regardless of whether you buy on ASX or AIM, so I wouldn’t worry too much about platforms that have explicit access to the ASX unless you wanted to arbitrage trade between the two.

Great posts Element and Bamps.

Element, to touch on a point you make about Shaun’s calibre as CEO, the question I keep coming back to is why did Shaun take the leap? When he was brought on board we were marching to Newcrest’s tune. To me, the prospects looked ok but none too bright.

I think that the theory that Shaun saw the acquisition as the play from the get go seems far fetched to me. I think the divestment was very fortuitous and well timed, Shaun spotted his moment and played an absolute blinder with the whole thing.

But let’s say that the acquisition never happened. What tempted Shaun to GGP? Is there something in our portfolio that really got his pulse racing? What don’t we know?

Thoughts welcome.

Schemiel, as we saw on our trip down to 10p, in the face of a strengthening gold price, in the short term at least, we are not immune to wider market pressures and stress induced selling. However, I’d suggest our shares in issue make us a tasty trading stock and the ASX will change all that, with (hopefully) big funds coming in with long time horizons, I think our susceptibility to general market sentiment will be much more muted in the coming months.

With a couple more sets of results under our belt, and consolidation/ASX making shares much rarer and held in stickier hands, we will be the antidote to market turmoil, not victims of it.

It wasn’t on for very long but I think the slide showing the performance of miners on different exchanges was very interesting and quite telling in terms of how unsuitable AIM is for us now.

ASX number 1 for miner performance and second best is Canadian exchange. London (main market) now waaaaay down the list, so I dread to think where that puts aim. Basically an OTC market now. Generally I worry for the UK markets. The money just isn’t there any more. Sad times for our nation but generally as far as GGP is concerned the move can’t come quick enough.

Shaun is seriously excited about Hav. Did I hear right that he thinks the resource could be potentially double what is currently known?

If a major fund is taking a position here I doubt very much they are going to get jumpy that a single billion Mcap miner isn’t churning out cash to shareholders within a year. It’s a long term view and Shaun is making it abundantly clear that there’s plenty of growth ahead and to me it feels like at the very least, one needs a 5 year horizon in mind.

I’m also noting the tone and wording of these RNSs, lots of conservative phrasing and words of caution here. Shaun recognises the line between painting the picture as it is and letting expectations get beyond reality. I’ve had my fair share of failed investments and in almost every case the RNS preceding the fall were, in hindsight, a sign of desperation rather than bullishness. Shaun sees no reason to overplay his hand, he knows what he’s got. Extremely professional comms.

Underpromise, overdeliver ;)

There’s someone who is the antithesis of a motley fool and that is Bamps.

Would love to hear his views on the resource side of things!

Take a bow Shaun and the team. Knockout stuff.

Major rerate coming over the next few weeks and months.

I also note the very conservative forward guidance, that is prudent and welcomed, leaving plenty of room for nice surprises!

The recovery rate tells you all you need to know: a company leadership focused on every little detail with laser precision. Said it Friday, easiest hold you’ll ever have!

Anyone else got that feeling?

The easiest hold ever IMO.

There aren’t many times when the LtH holds an edge but I think this is one. Let the traders get in and out with their 20% but our time has come. The gold price is off at the races, the ASX listing is imminent and our status as money printers should be confirmed on Monday.

Our northern star is rising and Shaun will announce us to the world on Monday. Expect fireworks because I think a major re rate is coming.

Liquidity in terms of inflows of cash = rising SP

I think he means there’s a lack of liquidity in terms of inward flows and hence the stagnant SP that lags significantly behind peers. That’s how I read it anyway.

Should be a great day today. The rotation is underway and that lovely RNS will have plenty of money looking for exposure to the results.

As for Monday, well, I can’t wait!!

It’s simple really - if your results are mediocre or poor you just put the RNS and hope it flies under the radar.

An RNS heralding in the results? Shaun wants the market to pay attention. Sign of real confidence in my view.