Member Info for Culpepper

Iceland buying at 85 current exchange rate.

Plainly, on what is being said there is money to be made from the Telfer/Havieron combination, plus whatever else just might be processed at Telfer. From a Ggp perspective as agreed by Mr. Baxter, though not discussed, that will be after purchase price has been raised, together with that required to satisfy capex, on the road to Havieron production and in respect of any changes to the way Telfer life may be extended.

I would tend to think agreement will be possible, involving Newmont, Ggp, and perhaps third party/parties, with Ggp having at least access to Telfer, maybe as whole or part owners of that and Hav.

Pretty cover all eventualities view. But I don’t think more can be said.

I wasn’t making a point with that, just putting the document forward, as a result of the posting on valuation/sp as a starting point, which is in the public domain for anyone as a starting point on valuation.They had to work Telfer in, as they felt it was a sensible approach, going forward for Newcrest, now Newmont, purposes. And on my reading they seem hard pressed to understand the 5% business, as it might relate to price discovery. I wouldn’t argue any of it. It’s historic, but maybe forms a base to start from.

Valuation. Grant Samuel had a go. Out of date now and gold moved on, but maybe a starting point. Hav, I suppose between independent assessor and Mr. Days offer for 5%, something like that at that time. Frankly, I think Grant Samuel were a bit flummoxed by it all, but had a go, graphs and things for future, tying it up with Telfer. Best of luck.

https://www.newcrest.com/sites/default/files/2023-09/Newcrest%20Scheme%20Booklet.pdf

Page 278 on.

Low volume. Iceland buying at 86p. May be an aberration.

Canada buying at 83.

Ace.

Well, if Bamps says, as he does, and he’s an ‘expert’,

“ Until the Decline gets going again we are not going to know what kind of advancement they are going to achieve.”

Then nobody has a clue. Yet.

I think so. Acquifers, declines, and technical hoo-ha that nobody here has a real clue about is just a passing phase. I think.

Ask gone to 84. Iceland already buying at 84 this morning. Just a snapshot. Canada yet to open.

Yes, and it’s any forthcoming corporate action, that will define the future, and the sp at that point in time.

Dunno. Thought they were in agreement, as per Bamps post.

“ Until the Decline gets going again we are not going to know what kind of advancement they are going to achieve.”.

On housebuilding, this is the latest snapshot in time following today’s publication. Just one of several. See how we go.

The UK Construction sector has a spring in its step, optimism for the year ahead the highest it’s been since Jan 22 - with the exception of the commercial sector, all 3 main categories of construction activity saw a near-stabilisation of business activity in Feb with housebuilding making the biggest comeback since Jan

@SPGlobalPMI

19th March 2024.

Anticipate as most in that line are doing, a cautious outlook, with preparation for improving times. And mention of next tranche of buyback programme. And divi.

If shareholders in the fullness of time following a deal finish up with greater EPS it is accretive. If not, it ain’t.

Jooby.

I have made it perfectly clear I sold all my shares over a few days. I may re buy, hence my interest, with no idea, like the rest of you, on definitive outcomes.

Perhaps stating the obvious, Newmont appear to be going to auction, as a means of giving optionality around Telfer and Hav. IF I understand things correctly, the JV terms as discussed on here, Newmont can always fall back on independent valuation, FMV, by FS, DTM, and a decision not to mine. But they want to shift Telfer best they can also. So there may be a time window prior to FS? A point to clarify perhaps, for those attending.

Perhaps stating the obvious, Newmont appear to be going to auction, as a means of giving optionality around Hav and Telfer to prospective bidders. Were it Hav only, they could simply agree that by negotiation with Ggp. They can always fall back on independent valuation, FMV, by FS, DTM, and a decision not to mine. But they want to shift Telfer best they can also.

Nobody will be cutting their throats. But I don’t think FMV comes into this one. Different horses, different details in proposals, perhaps.

It’s early days, biggish money, with Newmont wishing to reduce their debt as much as they can. I should think they’ll want time to gauge interest, and how any proposals from interested counter-parties work out for them, across Telfer and Hav.