Member Info for Culpepper

You can have it if you want.

The MRE in this case can be nothing more or less than that produced by other companies. A means of determining the nature of the deposit at a point in time, knowledge which will be increased by further work. Shareholders, certainly Ggp shareholders whose investments are inextricably linked with Havieron, want to know how things stand. As does the market.

It seems quite simple. It is late. It should not be. That is being put right, which will close the chapter.

And speculation can resume on something else.

i agree. cooperation and alignment is one thing. *****footing around with the likes of newmont is another. mr. day realises this.

I think building what I’ll call ‘mystique’ around the MRE came from a Town Hall, when a maybe loose Day comment was seized on by board members. And it’s lingered.

Ace. Long held view on getting the long-awaited MRE out, without fear or favour, and not regarding a failure to release as some sort of ‘tactical’ advantage.

Redirons. Things should take their natural course. For clarity, my ludicrous comment was relative to the previously expressed views that it would not be in Ggp’s interests to push for or release a MRE as it might increase the cost of the 70% should Ggp wish to bid. The so called chess going on card game. When they all know what’s what in MRE terms.

Get it out there as expected in the normal way. Straight bat, as I anticipate.

I would only add, as I read something at least alluding to it, I think that within standards Newmont may have stricter measures on what they term as reserves.

Long been my view, not universally adopted on here. Ludicrous, Ggp trying to get one over on Newcrest, now Newmont.

I just see it as a natural part of the process, not something to be seen as a move in anticipation of possible disagreement during negotiation. That time may come, when the sides will put forward their views according to all the circumstances then known, with a view to agreement.

And what Havieron is in December will change anyway by FS, I guess.

They’ll either agree it or not, and do their own if they see the need I should think. Strange business though, if it comes to junior partner publishing without senior’s prior agreement.

You will maybe have gathered I’m relatively cautious on here. Not too much in the way of outward expressions of greater things.

So your enthusiasm is decent balance, as these boards go.

The buy-backs were under way so I assume expenditure on that was taken into account at that time.

I’m open to all eventualities, and we seem in a stable position, from the tone of what is being said. A good position. If they have excess cash, they have undertaken to return it.

On the buy-backs, it is slow, but they were keen to point out is is solely to increase eps. Cheaper they pay, better for us.

Thanks. for ideas and conversation.

Https://www.newcrest.com/sites/default/files/2023-09/230921_Annual%20Report%202023_0.pdf

Page 16 Hedge Losses, which I think illustrates your point if I read your previous posts correctly.

I should have said banks, ‘insuring’ their repayment of debt and interest at a basic level.

I’m guessing ‘effectively’. Of course it’s the bank being very cautious.

You’re right - I read Newcrest were in hindsight over cautious on Telfer gold. Not effective. Were it not for their hedging, it would have made much more profit last year.

I don’t know much about the specifics, but I think Ggp will be effectively shorting some gold at production stage to hedge as required in the funding RNS. So it has its applications.

It’s difficult to be sure about things, and necessarily be right, that’s for sure.

And, as it struck me again, a bit of divi. here and there. ISA’d. At least you have a better than half idea where you’re going to be. Or so I like to think.

We shall all be happy. It’ll be corned beef sandwiches all round.

https://www.pensionsage.com/pa/Autumn-statement-triple-lock-maintained.php#:~:text=Chancellor%2C%20Jeremy%20Hunt%2C%20has%20confirmed,state%20pension%20from%20April%202024.

Best investment I made. And other pensions. Just down to longevity now.

Not much hope for future generations then. Nowhere to live, and gold but a dream, whilst setting traps for food amongst the decaying infrastructure.

Rather gloomy.