Member Info for Culpepper

Anyway, it seems to me they’ll need the MRE to come and go before making a decision on Hav. Wouldn’t you want to know that? And Telfer appears inextricable from it.

Mr. Palmer has not specifically committed. I don’t think they will be in a position to do so across the joint portfolio until the new year, February was indicated. They will look to the future, as well as the present.

It is rather depressing to be sure, at this time. Such great optimism from the MD, unshared by the market, and all ‘ good’ news unreflected in the share price.

Nothing to do with Mr. Day, but on the corporate issues he potentially comes up against his peers. That is why I was seeking clarity about the strength of the JV and Greatland ore ‘may’, ‘is intended’ to be processed at Telfer.

I should have said I find the wording available, to me anyway, weaker than persuasive.

I understand all that. I’m looking at the basics here if negotiation comes about. It is not clear to me what is legally enforceable and what is not. Perhaps others can advise me, if they have such clarity.

‘The plan’ was upset potentially by Newmont. Ggp are having to rejig. And no doubt as part of that revisit what legally enforceable agreements will transfer to Newmont, in relation to Telfer including the principles agreed on processing Ggp ore and tolling arrangements.

May be just me but I don’t get the fuss. Newmont will complete say November, MRE will get done. Of course they’ll get to see it. He’ll offer I expect. They’ll check it out. Of course they will. It’s just falling into natural timescales now having set on the road to put things right. Ggp shareholders ‘entitled’ to MRE. Get on with it.

Mr. Day aligned with Newcrest timings on MRE, so say in anticipation of them publishing one. They did not. I have difficulty in accepting that he was not sufficiently in the loop to know they would not, but there you go - it seems what he is saying. He said Ggp would produce one if Newcrest did not. It is overdue. So he is doing one. If that is not accepted, then it is tantamount to not believing what was originally said.

I take RNS at face value until the contrary is proved.

As I understand it, according to RNS there is the MRE from Greatland this year ( which Newcrest //Newmont will undoubtedly review ) then with Newmont, further optimisation, FS, and DTM. And at some stage Newmont will communicate their intentions around Telfer/Hav. I believe last indication from Newmont was they might expect to be in that position during February.

 And a listing on ASX may follow Newmont’s decision, should a raise be required as a consequence of that decision.

Nevertheless, we don’t know, he may already have sold previous shares to cover costs.

So he could list quickly, without a reorganisation requiring a vote, and follow up later. Just another option, is all.

I wasn’t there.

Nobody should have anything much beyond that.

https://www.lse.co.uk/rns/GGP/corporate-update-s4jnz76pog01to3.html

He wants to include the MRE, and it appears the listing admin will continue to make it quick when it is decided the time is right. I suspect he will have it up his sleeve if circumstances require a raise, ready to go.

Nobody will surprise the other greatly.

Newcrest/Newmont will know what has been RNS’d by Ggp, and it would be remiss if they did not keep an eye on the Town Hall and other presentations. Looked at another way, were we Newmont shareholders we would be saying old Tom has his finger on the pulse and will extract best value for us.

It’ll be in the negotiations, if any, and complicated seemingly by Telfer if they occur.

Dip. I have little doubt that if it comes to a transaction involving H, all sides, whether buying or selling, will do whatever they consider in their best interests to achieve their objectives. Newmont will be the motivators behind any transaction.

My posts around that are on valuation. It is hard to see Ggp pulling the wool over senior partner and JV manager Newmont’s eyes on that.

It would be normal for both sides of a transaction to seek to achieve best value, nomatter what has been published.

Dip. We differ on that. I don’t see the release of a MRE by Ggp conflicting with anything Newmont will decide to do based on the same information. I never have during Newcrest’s tenure.

Other prospects aside, and regardless of Newmont decision, dealing with what we know or believe we have in the mine that will fund other activities, Ggp must use what control it has to get the anticipated at some time sets of data out and cause decisions to be made around that to remove the uncertainties that currently prevail.

Ace. I have considered the ‘heavyweight’ board since they came on. I have had difficulty in seeing in practical terms their purpose, either as running as second string to Newcrest, and arguably for exploration.

I originally thought a next step could be to takeover H management. I haven’t changed that as a thought. It seems an option, to permit those well-versed in H, to take on greater responsibility, whilst Newcrest/Newmont retain their holding or at least part of it. There are a number of options/pertnerships. Wouldn’t bet on any to win.