Member Info for Culpepper

How’s any funding to be conducted?

That’s the nub of it. The sort of any deal, the cost of money. I, maybe like others, am waiting on that.

Nobody knows. And Mr. Day will very likely have to remain silent on it, whilst any negotiations between him/partners/cash sources, and Newmont on the other side are ongoing.

Wyloo is Ggp’s largest stakeholder. They were central to Ggp debt funding, and may be so again. . They provided a further facility. Mr. Day acknowledges their importance in bolstering Ggp credibility.

They can reasonably expected consultation, and involvement to their benefit in any subsequent profitable corporate transactions that may occur, with the opportunity to avoid dilution in the event of an equity raise. Were that to occur, I would have normally expected it to be consequent upon ASX listing, if the timing could be synchronised.

What I have read talks of the ‘intentions’ of Newcrest and Ggp.

‘The JV is tied in with Telfer they cant divest without changing the terms of the JV’

I have looked several times at what we know of the JV.

I remain unsure of a stage at which the JV can be said to have concluded, or the contractual strength of any arrangements for Ggp to process Havieron ore.

We don’t know, but if Havieron is to proceed in a timely fashion it seems logical that Telfer will have to be wrapped up in a transaction or transactions surrounding any disposal by Newmont of their 70%, if Newmont are to receive value. Ownership of Telfer /access to it is essential to current plans for processing Havieron ore, as originally expressed in the JV.

It seems difficult to say more than that with any certainty.

He’s told everyone, via press and town hall that if the opportunity arises Ggp will be a bidder. Also I believe at Town Hall that the money is ‘there’. We are now likely to see what that amounts to.

That’s put the cat amongst the pigeons.

Got there on the UT. Canada buying at 79p.

Last cash raise, and director £2m buying, barring accidents, probably put a bottom under it.

Ask was raised to 77p, with no apparent takers. Iceland buying ahead of our equivalent price at current rates.Just a snapshot.

I would be very surprised if there was ever a placing without permitting Wyloo to maintain their percentage holding.

Canada buying 76.4, Iceland 77 at todays rate.

Bit on that. Amaroq about 4mins 10secs.

https://www.share-talk.com/traders-cafe-with-zak-mir-bulletin-board-heroes-wednesday-14th-february-2024/

Catching Ona little. 77p equivalent paid in Iceland.

£44m raised.

https://www.londonstockexchange.com/news-article/AMRQ/results-of-fundraising/16329398

One might expect it to attract some attention from commentators. The market reaction is pretty flat today.

We by-passed it this morning.

‘The Director ( of Amaroq )has committed to subscribe for approximately £2.0 million (equivalent to C$3.4 million or ISK 343 million) in the Fundraising.’

It’s a lot of money. I take the view that dispels any reasonable doubt about foreseen progress, and any negative thoughts about dilution.

In case of oversubscription of the Fundraising, the Company may increase the offer size with the use of additional proceeds to be focused on further exploration at Vagar and Nanoq and a capital injection into its Gardaq joint venture.’

Bearing in mind what has also been said, there seems a distinct possibility of more than £30m being raised at the price. We’ll find out when they finish.

‘As announced on 11 February, the Company has already received indications of interest from investors in excess of £30.0 million at the Placing Price.’

To me, they are well-funded at this stage and apparently won’t be carrying debt into first production at it seems, good recovery rates. As a punt on a miner, doesn’t seem a bad one. And there’s the strategic minerals prospectively on top.

Well, would they be bothered? The share price is one thing. Getting cash in at a price that suits shareholders and themselves, including a director buying, is what they achieved.

Iceland trading in line with uk. See what Canadians make of it later.