Member Info for BottleRocket

Right!!! hahaha

Cheers, Guesstimate £480,000 for 5,000,000 shares average price 12.1 - shame i cannot get paid sitting here doing this research.

Least to convince one's wife that its "work"

4 million and counting, i think, they must be finished soon!

The Youtube Videos are going to have most of the answers. they usually appear inline with results or announcement.
The MRE is due H2 of 2020, so anytime between July and December, I am not holding my breath if i am honest.

the best advice, Do not listen to people on this board, draw your own conclusions from your own research. there are lots of agendas on this board, and whilst after a time you can begin to work out who holds value to what they say and others that are trying to persuade you to buy or sell.

Good Luck

I've seen 3 x 500,000 trades go through this afternoon, all around 12.05p could they be filling an order?
is that how it works??

Golf Clap.... :)

I sit on my chair and patiently glare
for the red to turn to blue,
The too-ing (sp) and throwing, are all just bemoaning
but frankly, i don't really care...

Havieron sounds quite absurd, Blackhills, and Scally too.
Then there is Kracken, alright keep your hat on
It just might make you richer too.

So now is the end of this random poem,
thank god for that they cried.
Well, it's all on you because I have nothing to do.
But sit, and patiently stare, waiting for the red to turn to

Nevermind...

Welcome. many things can, but the MRE (Maiden Resource Estimate) will be the point where they decide to mine, at that point, it becomes a thing, and the share price i believe should move with the amount the two companies agree the mine is worth.

"Hold my Poodle"...

I am trying to locate scally on imagery, but with nothing to look at but dust/trees, i can't find it as such. I know its 6K to the east, but that's where it ends lol

TMT, i think that's the bigger point, the 5% option, and not selling it lock stock and barrel.

and thanks.

You may have seen this, but this is what i use for reference on the farm in. https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xp4py3x

Dave, that equates to $525,000 AUD total. in value, but each share is only worth - meh, can't find it now. but if your pacific trends, you're about to dance one hell of a jig.

comes down to how much of a loss we are at. GGP has spent 5-6 million? 2/3 million a year IIRC, if we sell 5% for (Suggested) billion. that will not even make a dent in it. - you are right tho, in what you say.

This is a lot less wordy. https://www.grantthornton.com.au/client-alerts/2014/farm-out-arrangements-what-you-need-to-know/

No worries Mushroom i have taken in so much info, that i feel like i have a better handle on it in Australia than i do my own!

with point 15.
15. Against that background the parties to the farm-out arrangement should seek to reach agreement on, and specify, either in the written agreement between the parties or in a written statement by the parties, the agreed fair and reasonable value , if any, of the percentage interest disposed of at the time of the disposal. The parties may be required to reconcile the valuation with the agreed work programme commitments if these appear inconsistent e.g., a nil or very low valuation with very large work programme commitments. This reconciliation, if required, may need to be supported by a statement setting out the basis of valuation and assumptions used.

TMT - fair point. this is the ruling on a fair price.

13. Any such valuations may give some assistance in determining the market value of the prospecting or mining right for income tax and capital gains purposes. Market value is not defined in the Act but guidance as to its meaning may be drawn from principles enunciated in Spencer v. Commonwealth of Australia (1907) 5 CLR418 where Isaacs J (at p.440) said :

"To arrive at the value of the land at that date, we have, as I conceive, to suppose it sold then, not by means of a forced sale, but by voluntary bargaining between the plaintiff and a purchaser, willing to trade but neither of them so anxious to do so that he would overlook any ordinary business considerations. We must further suppose both to be perfectly acquainted with the land, and cognizant of all circumstances which might affect its value, either advantageously or prejudicially, including its situation, character, quality, proximity to conveniences or inconveniences, its surrounding features, the then present demand for land, and the likelihood, as then appearing to persons best capable of forming an opinion, of a rise or fall for what reason soever, in the amount which one would otherwise be willing to fix as the value of the property."

Fixed. would love to know some thoughts.

https://www.ato.gov.au/law/view/document?docid=ITR/IT2378/NAT/ATO/00001

Does that include all the money spent so far, and all the money they will spend getting it out of the ground?

Written Monday.

For a few days, a few posts have had me going on capital gains tax, I have done so much reading, trying to work out
the rules, and late last night I believe I finally found the answer.

Have a look at this taxation ruling that applies to mines, that are on a farm in agreement. Points 21-28 are pretty much the scenario we are at. (25 is the one that makes the most sense to me)
https://www.ato.gov.au/law/view/document?docid=ITR/IT2378/NAT/ATO/00001 - link broken when I pasted this into LSE - annoying, this whole thing is based on it!

I believe that the farm-in prices, the number of shares issued to Pacific trends. The 70/30 farm-in over a specific time frame is agreed by both parties on purpose for the bigger picture. This whole thing hinges for GGP and NCM on the 5% which if the mine is worth opening (we know today that it likely is) they will take that second farm in the option of 5%.

Having read the document a dozen times, I hold the belief that the "Fair market value" will be very different to the prices that are getting flung around, and be much lower than what a lot of these fag packet calculations.
Before some of you get your knickers in a twist, and I bet some of you are already cracking your knuckles to smash the keyboard calling me a de-ramper, I hate to tell you, but it's not all about the price of the gold in the ground at this very moment.

This whole process needs to be so that there is no reason to pay capital gains tax; It can be up to the two parties what that 5% is worth (TO THEM) I believe they will use a third party, which keeps AUS government happy, taking in to account the "No less" than $90m (AUD) that will have been spent by NCM. and other CapEx costs (salaries, and share options for instance amongst other things. (note 1.17 of the GGP 2018/9 financial statement)

Both companies have a right under the farm in to offset the last two years of money spent against the sale of the five per cent. If both parties agree that it is only worth $150M and sign off on it, that is FAIR TO THEM based on all the money already spent, and the cost of getting the ore out of the ground. Then that is that.

Now once that's done, and the 5% settled, then Newcrest will start releasing how much is really in the ground, the money will start flowing like a bottle of Bollinger in the hands of an F1 Driver. It will then depend if GGP continues to pay for mining (25%), or if cash or no cash deal is agreed.

Maybe take my findings today with a pinch of salt.
But I present this to you here for someone with more understanding than I, to come back to me and point me in the right direction if I have this wrong.
I hope this makes sense to someone. I have wanted to offer something of sustenance for a while to you all, rather than just be the sarcastic bloke that chips in tuppence way too often!

Cheers.