Member Info for Culpepper

Nobody knows anything.

Got to bear in mind it been trading 20p and under for absolutely ages.

What is it gets said on these boards when they get flummoxed - ‘smoke ‘n mirrors.’

Yes Sisu, you must be ‘the special one’. Somebody akin to Mr. Day.

People thinking in cash terms only on Ggp buyout, always a possibility of a shares coming into a deal.

Be fair, somebody choosing a name like that is something special.

strength of will, determination, perseverance

Sisu is a unique Finnish concept. It is a Finnish term that can be roughly translated into English as strength of will, determination, perseverance, and acting rationally in the face of adversity. Sisu is not momentary courage, but the ability to sustain that courage. It is a word that cannot be fully translated.

Biased of course, if Ggp finish up buying more the later the better on capital spend.

Dip. Imagine was just phraseology, as you know. February is creeping into dialogue as a sort of target date for decision, and before long it’ll be an expectation.

May happen, but not necessarily a date for Hav if they are to divest.

Dip. I imagined what I have seen on Newmont presentation output for Feb 2024 to relate fundamentally to investor earnings guidance for the combined group.

Fact is, we don’t know about the timing of any acquisitions or disposals. I don’t expect an advance list on a certain date, more likely more conjecture/rumour finishing up with something having happened as they make decisions, negotiate behind closed doors, and sometime a RNS for us, perhaps no change.

I should say, I am talking of divestment by Newmont timescale possibility. Not a declaration to retain as a JV partner.

Dip.

I don’t disagree with any of that. But February, unless more has been said, is no firm date for Hav/Telfer. I think it was a generalised comment to the press?

And they can go past what we currently understand is FS completion date without contradicting anything they’ve so far indicated.

Put it this way, I’m certainly not setting myself up for February or before, but of course accept it could happen.

I don’t know, but it’s hard for me to see Newmont making a quick decision to divest, on simple thought that they might want to know what seems likely in terms of cost, revenue and profitability before doing so.

It seems simple when looked at as a project. I’m not sure anybody can make a persuasive case that Newmont will want or need to ‘ditch’ it. Parcelled with Telfer it makes sense.

But we don’t have the overview of the totality of Newmont assets and the policies that will guide the board, with an aim of consistently increasing profitability over future years as a single entity, whilst maintaining a healthy balance sheet.

Well, we are in the business of theorising around a particular part of the new enlarged portfolio, and guessing how it may fit into say a 10 year plan.

Havieron is an asset forming part of what Newmont describes as their value accretive organic project pipeline, with optionality around sequencing and the timing of development capital spend.

Question is, in my view, would they rather commit cash under their strict capital control policy to developing Havieron, or something else falling better into their sequencing of events.

Newcrest spent a lot at Telfer. Would have made 80mil or so Aus were it not for losses on hedging. It’s forecasted live until 2025, and it seems to me more can be squeezed out of it, with the possibility of an increasing gold price, which is pointed out in annual report as being particularly relevant in terms of volatility on profitability, whilst waiting for Havieron.

Out of interest, when and where was it said that Newmont will only operate those mines they currently designate as Tier 1.

now you’re being co****, so i shall withdraw.

As opposed to two in the bush, of course.

I expect you, Summit, prefer one in the hand.

You’d think all that lot were there for something. If they don’t go down the mining route, and Hav/Telfer is it, you got to wonder what they’ll be up to.