Member Info for Culpepper

Dependent on what’s actually in the JVA under those circumstances. But they’ll talk about it as is natural.

Well, it looks like Newmont going to own it together with 70% H, and make their minds up as and when , if not already done. And there is no agreed change pending final completion in due course.

Well, I think they will have a much better idea than us lot. And will be far more likely to anticipate, and know, prior to us getting a look in. To that extent, I see no reason to pick me up on it.

Yes, they appear obvious to us. That’s all we can talk about.

No, I don’t see it as a game of charades winning through - ultimately , due diligence, cards on table, up front, agree or not is where it will finish up. In my opinion, and how it normally goes. Same as Newcrest/Newmont perhaps, but on a much smaller scale, where there’s less to get to the bottom of.

But I appreciate that would leave Ggp with an overweight team?

Haha. So it could be a draw. As you were. Why not?

SG. I’m not at all precious about that. The conversation flows.

And the fact is none of us know what’s actually going on, and what it will result in. Unlike the players, whoever they may be……

I didn’t say it was agreed. Though one imagines Ggp have at least considered their reactions to scenarios arising from decisions made, it would now appear by Newmont.

I do not necessarily expect any that may be made to be signed off/published, within any given or anticipated time scale.

I don’t think market sentiment comes into it. There will be deliberation on the facts as they are known to the parties, and a business decision made looking at deriving whatever benefit in the fullness of time is sought.

I mean, you can’t play crafty games with these people. They’ll be up to it. All sides will have to front up eventually, talk about it, be persuaded, hope to agree.

Everyone meaningful can see the cards, they’re evident, and whatever’s in the JVA will be known to both parties, and now I suggest Newmont, and very probably Wyloo. The JVA, should serve as a backstop, if properly prepared, and should not be open to legal interpretation, though it might be. We don’t know what’s in it exhaustively. I expect sensible negotiation to prevail, and not for things to come to a sudden, grinding halt.

I wonder what persuasive reason might anctually exist for Newmont to dump Havieron. Newcrest didn’t do so, and continue to fund it, with processing at Telfer, and perhaps medium/longer term possibilities for ore from elsewhere in the current absence of other processing plants?

All being well, H is within sight of giving up cash, rather than taking it. What would be the nature of the changed business decision?

As an aside, I really don’t know the fully persuasive reason for an Australian holding company. It’s only been mentioned recently, so I wonder what the company has in mind at this stage of proceedings. ie does it better facilitate the purpose of the ASX listing alone, or does it represent a change in operational thinking.

I’m for cash in hand too, and age is a factor, no matter how accretive a deal may become over time.

But personally, I don’t like the thought of a Ggp without H. Just me, seems a backward step to start another quest for near term income..

I think it rather depends on who ‘we’ is, whether talking of Havieron or Ggp - pi’s are not necessarily invited forward on that. Just following the thread, you understand.

I think as you do, with no knowledge of what might have been tee’d up - management would have to ensure they have the wherewithal, before seriously floating possibilities. - it’d be a fair old stretch for Ggp.

It’s a strange ‘game of chess’ as frequently referred to on here, with Ggp upfront about its possible moves, which everyone knows anyway.

It’s all down to negotiation, on the basis of how Newcrest/Newmont see it for starters.

I can see that, but it’s not been the continuing trend of ‘the plan’, with free cash flow from H being used to finance future activities.

But circumstances change, and ‘the plan’ must with them.

If Ggp’s 30% is bought out, just one of the options, and probably better that H is single entity, on what is known currently it would put the company back years in terms of Mr. Day’s plans for growth, and arguably worse for shareholders than buying the company.

I don think there’s much to be read into this sort of price movement specifically on the news front for Ggp.

We have been told there are institutions waiting. It would be healthy to have larger shareholders, perhaps unconnected to the industry, to create some balance against the likes of Wyloo.