Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Hi
GGP issued a number of warrants which essentially give holders the right to buy shares in the future at a specific price, in this case 2.5p, and they need to be exercised (used) within 2 years of issue, see RNS released 12 August 2019 @ 10.32. The warrants were issued alongside a share placing, i.e. buy a share at 1.85p and get a voucher to buy another one at 2.5p anytime within the next 2 years. There are just over 132m of these warrants left now.
No problem Reamonn. I'd suggest that all holders do check their own situation with regard to their own broker, not because it is going to happen (!), but so you can be prepared for any eventuality and it can then be part of your plan...
GLA LTH.
Hi Reamonn
You are correct. Stocks on any recognised exchange are allowable, but unfortunately that isn't the same as possible. This has previously been discussed, but short story is that if your broker does not allow, i.e. deal, ASX stocks, then it is a no-go IMO. If that offer happens then I will be selling pre-offer - my ISA and SIPP are both with HL.
Hi All
I had a quick rewatch of the (conservative) Investment Journey Greatland Deep Dive YouTube video and fed in the "revised" values - dimensions increased on one side from 600m to 900-1200m, take your pick. So increase of 50-100%.
Also looked at higher grade value for 1.86g/t. Changed NOTHING else, I.e. low gold price, high AISC (imo), copper at 0.6%.
That gives:
50% bigger = 17p × 1.5 = 25.5p
100% bigger = 35p
If you raise the gold price a little, or lower the AISC, or up the copper it can nake a dramatic difference. The value in the video is being worked off a margin of less than US$100...
GLA... really pleased with the news/results.
Had a quick look at the volumes and there was a spike (136,961,972) on the 20th (and a bit higher 1 day either side). Just wondered how much of this spike might have been those who bought on a T10 settlement date (always with a view to sell pre announcement), with their buys being timed to coincide with the well anticipated announcement on Wednesday night, assuming others would buy in the lead up to the announcement with a view to holding until after? Would they need to be selling around now to get the money in for settlement?
22-04-2020 1193 77,203,613 1 8,500,000 7 7.7
21-04-2020 1912 111,026,990 1 5,000,000 7.01 8.02
20-04-2020 2575 136,971,072 1 5,000,000 4.9 7.82
17-04-2020 1596 102,634,572 1 4,000,000 5.75 6.74
16-04-2020 560 27,533,135 1
I have now spoken to HL regarding any possible part / all share offer.
They said they cannot hold shares traded on ASX, but MAY be able to lodge them with another broker.
It was also suggested that I consider transferring my ISA / SIPP to another provider that is able to deal with ASX listed shares and this would keep them within the tax wrapper. Never done this - any comments as to how it works? Similar to Bed & ISA or more straightforward as shares already in an ISA? Could you lose value doing this?
I asked if this needed to be done pre/post offer and was told they would need to contact me personally to discuss options (all a little vague imo). They also pointed out that as the shares would be traded on another exchange you would become liable to any relevant Australian tax legislation, whatever that might be... There would be FX charges if the ASX shares were sold, and the dealing charges themselves may be higher.
That's everything I could glean from them. I did also suggest to them that they consider dealing shares on ASX and that was noted by them as a suggestion.
Hi Paddy
Given what you said re future AISC for Telfer what's your view on the figures used in the YouTube video by The Investment Journey?
AISC =1140.75, Gold = 1239.5, Grade = 1.55g/t
I know it's meant to be conservative, but those figures seem very conservative to me?
Also it mentioned only using the AISC for the underground mining part of the Telfer operation, but the figures used appear to be the AISC for the overall operation. I assume there is still open pit mining going on at Telfer? So if the AISC figure is for the overall operation wouldn't it be too high anyway as for mixed mining types?
Thank you.
C
Hi Joe
Yes hold up my hands. I was interpreting (incorrectly!) a buyout of HAV as being full ownership now. My mistake. Of course, as you say, they can bring forward their bid for the remaining 30% and then complete the farm-in as agreed (makes total sense now), but as PG and yourself have said it's a question of the premium - I think we all agree on that. Still has the same risks for NCM as previously mentioned, and yet they'll need to pay a premium - good news for GGP.
In some ways I'll be relieved if that is what transpires... :0)
Hi
Looking at the possibility of NCM buying just HAV right now would mean buying 60%, rather than at the end of stage 4 when it would drop to 30% for little further outlay. I can't see that buying twice as much now would be a good deal for NCM, given the latest drill results will be public, any other non-public data presumably must be known to both parties at the time of any proposed deal, and given the amount and speed of progress made by NCM so far in firming up the detail of HAV (how much is left to know?). For it to be a good deal the value of HAV as it stands now would need to be no more than around half of what it would be at end of stage 4 (and hopefully for NCM a lot less), however far off that might be... probably not as far as originally envisaged. And everyone knows where POG is headed... It would be something of a gamble on the part of NCM wouldn't it?
If the offer is pitched low because resources are "only" inferred, implied, measured rather than being probable / proven reserves then my guess is it will be rejected, so not sure that can be used to leverage a cheap enough price with much certainty of acceptance... and it is then a risk for NCM if it then turned out badly. Aren't GGP the explorer, i.e. risk taker...?
Welcome comments / other views. All IMO.