Member Info for Culpepper

From here, if not on already.

https://s24.q4cdn.com/382246808/files/doc_presentations/2023/05/May-2023-Newmont-Investor-Presentation_Announcement_Final3.pdf

I do apologise, between me and the tech.

Apologies, it came out all wrongly. The 2bn is through portfolio optimisation.

Synergies per annum

I see Newmont is targeting up to 2 bn. dollars in cash over the next 2 years, alongside savings of 500m dollars through synergies. A lot to work through.

Can see your thinking of course. It implies new employees were aware of second successful bid following which Newmont had already agreed to sell H to Ggp/Wyloo ………?

Matter for Mr. Day and the board - and he’ll be thinking, his own shareholders. Wyloo in particular perhaps.

That’s where Mr.Day has to decide what’s in the best interests of his own shareholders. Push on as usual in a straight way, or play ducks and drakes.

They say things, looking at options, speculating as we do. But we’re no further forward on that speculation. Newmont will consider all their many options, including H, over time. And I think not until their new entity is bedded in.

SG I never thought anybody was or would, tactically. What’s the point, now and onwards. And Newmont going to own it as JV partner, so they’ll know what’s what.

Near as we get from horses mouth.

“Despite widespread speculation Newmont could regard Newcrest's Telfer operations as surplus, Newmont boss Tom Palmer told The Australian the company wanted to take the time to properly evaluate the Havieron joint venture with Greatland Gold before it made any decisions on the operation's future.”

I’ve always thought it more likely Newmont would be a buyer of 30% ( or Ggp ) rather than a seller of 70%, bigger fish looking to take juniors for volume.

But I think they’re more likely to let things carry on with a working status quo until they have their own big house in order.

So I’m thinking anything that might be is off until next year.

No reason why Newcrest/Newmont won’t carry on business as usual, MRE August, and the rest, and Ggp ASX listing. But with a new board potentially, reshuffle, and go forward as one with decisions on acquisition/disposals, my own feeling is there’ll be no rush on their part for decisions around Hav, as it approaches production.

Vote September/October. Completed by year end.

‘I will be surprised if Shaun doesn’t bring his own out again’

Bamps and others won’t read this because I’m binned.

He seems content to align with Newcrest, for good explained reason.

Why a change of heart?

I’m by no means sure what ‘Shawn’s way’ actually is in corporate terms around all this. Simply waiting and preparing for what might present itself I suppose, and probing to see what of benefit he can interest others in.

I would have thought Duhe had already run it over major shareholders, to say she was prepared to recommend it. Always room for a bit of dissent from shareholders, muttering leading to the vote.

I wouldn’t call it catch 22.

It’s a process, and I can see very good reasons why JV partners should naturally come together on information release.

I can’t see tactics coming into it on a valuation process, look at the evidence and it is or it isn’t worth so much to me or you.

August fine by me. In company time scales, if not actually colliding I think information has a good chance of flowing fairly quickly then on.

That’s said to be to align with NCM’s timelines. August. Can’t think it’ll change, subject to an early bid from someone for Ggp/30%.

It appears to me quite a lot might happen August on, NCM/NEM deal completed, ASX, MRE and the rest of it.

It’s not hard to see it coming for various good reasons. 1 for 10, 88p is being promulgated here. But we don’t know. It’ll be in the timing, and part of the consideration around the ASX listing.

The mathematics are clear.

In due course. we shall get to hear the relative reasons, benefits as seen by the Ggp board if/when it is proposed, at a time best chosen by the board.

Many pi’s view it in a negative way. So be it. I don’t.