Member Info for Culpepper

From what I’ve read the ‘tapped up’ institutions are not so much on the sidelines as awaiting a possible placing. Nothing in it for them to push the price up on the open market.

If Ncm agree a deal, before recommending a deal they will have to get major holders on board. They won’t go into a vote without being pretty assured of the outcome. And Ncm shareholders haven’t been a happy bunch from what I’ve read.

Yes. I think they should do. I see little point in building in delay for the sake of it, though Ncm may be constrained by events. The closer Ggp can get to production before taking on more debt the better as far as I am concerned. Others may differ. There may be no rush on anybody’s part to do anything.
In the meantime, though Ggp like Ncm will no doubt be able to demonstrate value, I would of course much prefer to be going into the currently unknown at a higher share price.

I think it may be quite a lot longer, and on timelines if a deal goes through it seems Mr. Day thinks it may be all tidied up within 6 months. Completion, before title passes. I understand 6 months or so is about the norm.
So, I don’t know, it seems to me if Ggp were to continue as planned quite a lot may happen/be published prior to completion, and before a new owner can do anything with Telfer/Hav, without Newcrest facilitating an agreement with Newmont approval.Much appears to remain in Newcrest’s hands.

https://www.devonlive.com/news/devon-news/new-wickes-store-torquay-defeats-8252624

Some kind of conversion therapy sort of thing.

https://www.pressandjournal.co.uk/fp/news/aberdeen-aberdeenshire/5500915/wickes-westhill/

Hope he’s not referring to himself and his Wyloo.

In my opinion, unprovable, that everyone so called fed up with and some taking seriously, this John thing is just as likely to be a cook up on this board to ‘jolly it along’ as anything else. I see it’s suggested elsewhere that that name may be a ‘shorter trying to get out.’ Think about it.
But buy into what you want, as always.

Dip.
It’s differing things on here, individual personal views. As you know, I do not follow the narrative of the moment. As posting proceeds on its way, before getting back mostly to the beginning.

I do not favour a secrecy based posting approach to the negotiation of corporate matters. It is unrepresentative of what mostly happens, and to me would appear a ludicrous position to adopt between JV owners.

NEM/NCM deal. Ncm are up for it. Where will they meet, or not?And if they do
meet, will shareholders agree down the line/activists step up?

I favour a deal, because it will be a catalyst for potential change to Ggp benefit, one way or another. Win/win.

I had favoured a Ggp buyout, but would wish to go into that at a higher price. It is with that in mind that I was on about the MRE.
If there is a buyout of the 30% it would not be to my liking, though some cash might be returned to shareholders. It is not what Ggp had in mind I think. It is without the original plan for growth.
Ggp can say no to a Ggp buyout or a Hav buyout, and go from there. The board is well equipped to demonstrate value, in a similar way to NCM.

Supportive large shareholders can finish up as owners. It’s not unusual. I reserve thoughts on Wyloo, until the nature of capitalisation is finalised should the opportunity arise for Ggp to make a rather large bid for their size. And Telfer, processing, is a complication in my particular guesswork.

All 6 months off or so I suspect, for transfer of titles, without a mini-deal ( don’t know, don’t feel it) from Ncm to NEM.

And there’s always a little room for what we don’t know at all.

Yes Dip, catching up. The secret squirrel stuff is old hat bb board stuff, ring of steel and all that. As I said all along this will, if anything, go to a negotiated deal between business people, on value to each, cards on the table. They will find a way to accommodate each other.

It’s on the board, in order.
Done with you on this subject.

Dip.Yes,I was thinking 6 months overall on a deal if done, probably allowing for the expected MRE and so on during that period.It was, and is the plan I understand. I see no reason for anyone to believe it will be departed from. It seems unlikely to me, unless there’s some sort of sub-deal, that Ggp will be involved in anything re. H, until completion of the Newcrest business.
Management will have to keep the banks in the loop, in accordance with what has been signed up to.

Sequentially, you are wrong. You chased my tail, with smart-assed comments. I responded, making best sense of your half-****d posts.

And I have no reason to amend subsequent posting relating to MRE and timing of release, against bidding timescales. MRE is important to Ggp, but Ggp is in Ncm’s hands unless Ggp goes it’s own way so far as possible.

Well, there’s the part post.

“Some SHs have made certain connections and look to being proved correct (again) about whats under ground. To the annoyance of some. Obviously NCM will know but what do they do with the information. If they had eyes on GGP (before they messed up) maybe they'd want to keep as much back as possible from the public domain etc.”

Plainly, you are correct. MRE is unmentioned. If I called it information relative to what’s in the ground as known to date, and unpublished pending an MRE, would that be acceptable?

And the eyes on Ggp bit I guess infers the possibility of some tactic surrounding continuing or past interest in a bid for Ggp, or H. Probably largely irrelevant as Ncm is now the object of the exercise.

My belief remains that if there is a notion in your posting that it is possible for either NCM or Ggp to snow the other by failing to disclose to date data on resource/valuation, which is where all this conversation originates, it is more likely wrong than right.

It can be said no MRE is required. It might not be to get on with things. Ggp will have it well-covered, but
Whilst the Company and the Banks have entered the Commitment Letter, financial close of the proposed facility and draw down is also subject to customary project financing conditions including completion of reporting requirements, Feasibility Study criteria and agreeing final documentation.

That’s if they agree of course.

If he said it was a completion date, I’s be pleased to hear it. But I don’t think it likely.

I don’t know what Mr. Day said or how others interpreted it. But there’s a bidding process, a due diligence process ( opportunity both ways, else Ncm don’t know what they’re getting in the shares )
Happy to be guided by those who heard the words.