Member Info for Culpepper

“Now my eye watering figure is probably a lot different to others, just like my valuation of the 5% :)))) “

On valuation, that was ‘independently’ set at US 60m dollars at cut-off December 2021. Viewed as highly prescriptive valuation process by Ggp. I think Mr. Day later said he would have been prepared to pay a lot more, can’t remember, 85m comes to mind at that time.

The objective remains the same for the owners, Mxc, and driving partners Smith and Wheeler - to develop the company to an appropriate stage that it can be sold on, on the way to Mxc realising cash from their equity investments and shutting up shop,

I like to think that Ggp, Newcrest, and Newmont know something of mining.

And if you go down that line, what’s anybody got to show for it?

More advertising.

https://www.insightdiy.co.uk/news/wickes-launches-300-new-bathroom-products/12750.htm

https://www.insightdiy.co.uk/news/wickes-launches-new-kitchen-ranges/12753.htm

It’s as advertised. £12.5m twixt now and Feb 2024.

“The sole purpose of the Initial Programme is to reduce the Company's share capitaL”

Yes, there’s many permutations.

On the subject of any sale by Newmont say in 6 or 8 months plus, I was happy that my last post reflected the position, on what Mr. Day was reported as saying a while back, and indeed in that article causing discussion today - a bid.

Going over old ground, I thought most if not all had agreed Ggp has the same right as anyone to bid on the 70% , and the opportunity to succeed by matching the highest bid.

There is, I think, a different thing on a negative DTM, perhaps market value, but that’s not the topic of this discussion.

On raises, probably decided by Mr. Day and all we know is what we’ve read, IF there is something requiring cash whilst retaining a strong balance sheet, then there can be no better time to do it than hot on the back of an ASX listing.

And my understanding is he has to tell ASX regulators if one is to be done at the time of listing, or intends to within I think 3 months of listing.

I didn’t expect it to push the price up necessarily. It’s in the EPS, and going to divi.

On divi. You have one.

Plan to maintain FY2023 dividend at 10.9p - based on a strong balance sheet and confidence in the business performance we plan to maintain the FY2023 dividend at 10.9p per share. Together with the impact of IAS38 on our adjusted PBT, dividend cover will initially be outside our new target range. The Board intends to maintain the dividend at 10.9p until cover moves back into the target range as profits recover.

You had me fooled then! Obviously, I hope it’s wonderful when they update us. Puts the price of the total asset up.

Let shareholders at least get their voting done, for goodness sake.

How much? More than I want to think about, unless H isn’t what you lot are cracking it up to be.

Telfer, well, there’ll be disparate views. Perhaps there’ll be a consortium. No one knows anything. I guess not even Newmont board, because that hasn’t been done yet.

There’s nothing new in the conjecture, with the prospect of Ggp buying the 70% welcomed by some, not so by me. There’s a middle road, a new partnership, perhaps different split. And Telfer is part of any bundle.

No decisions made. How could they be? Very possibly be mid 2024 before they decide, and then the process has to be gone through.

1. We will now see the benefit of the delayed contracts in H2 which fills us with confidence for the full year outturn to deliver against board expectations.

2. The Company has latter stage engagement with new partners that would deliver a meaningful uplift of revenues for 2023 and beyond.

There’s always been potential for Ggp board to finish up managing the Havieron project and Telfer. I thought that was might have been behind board appointments as a first step, prior to Newmont showing up.

All its holes in the ground are Australian holes, under Australian authorities. It chose to flog its a shares through a London listing. It seems it will now flog it’s shares through an Australian one also.

Greatland is Australian. It has a share market in the UK.

do the usual thing and treat uncorroborated stuff, either way, as *******s.

My thoughts on Ggp haven’t changed by the way. H must get to production, operational profit, FCF and on from there, to support whatever else. Whilst avoiding/taking advantage of, however you see it, corporate moves.

And I’m all for institutions buying in the open market, holding up or pushing the price up.

Have a good weekend.