Member Info for Culpepper

Processing at Telfer was a fundamental part of the thinking behind the JVA. And it mentions tolling charges I think. Without knowing what the JVA says about Telfer we don’t have a starting position in respect of a possible change of ownership.

I probably agree that, for practical purposes. However, on timing
“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.”

I don’t know about you lot, but my bottom line is with this one I consider myself locked in until such time as something happens to enable at least getting my money back. I am optimistic about that.

It is interesting, the flotation of I believe previously unexpressed thinking on changes to processing.
The original plan was fully inclusive of using Telfer, owned by Newcrest, and costed down to tolling arrangements, and advantageous to both JV partners.

The bank lending is subject to ‘feasibility study criteria.’

Crikey! A new processing plant as a possibility. He will do his sums. I don’t know the timescales on that, but it won’t be ready for next year, so I presume he’s happy Telfer will still be available under the JV as before, whatever happens.
Thankyou both for answering my questions.

So Mr. Day’s broad alternatives are, assuming H will be mined, is a buyout either way of 70% or 30%, or as you were. He can’t be expected to be any more explicit. And thankyou for your detailed response.
I see Telfer as central. Would you mind, as you obviously have some good clarification, saying if that featured in his address.

I don’t think anybody has spoken of mothballing anything, or not mining. It seems to be reasonably suggested that Ggp will have a new JV partner in Newmount, if their deal goes through.
Presumably that much was clarified last night.

Possibly it will be left as unidentified innuendo. Without going through the pros and cons of dilution again. Either it exists (as a means of growing the company) or it does not.

I have to ask. Blinked?

Somebody please ask him what Donald? said. The suspense is killing me.

You can't keep talking of dilution, even if good, as not occurring though, explaining it away. It happens or it does not, in the terms the word is normally used in.

Just a reminder that there are different ways of raising finance other than that last done to fund Havieron works. It may be possible to roll interest payments up with nothing repayable until a future date, such as with a loan note, or using the same principle as a convertible loan note where the funds are exchanged for equity at a later date. Probably existing lenders would need to be happy they are not being prejudiced, if not themselves involved. There are different models which may suit Ggp as it looks to revenue next year, without necessarily getting stuck on the basics.

But be aware, he will be addressing outcomes for the company and it’s assets, not necessarily those for pi’s, when listening to questions and answers.

He’s scarcely going to say otherwise. But he will no doubt be able to clarify some of the issues raised on here on historical matters, whilst exuding confidence in the future whatever might arise, changing circumstances.

I’m in and out of his filter box like a good un.
Seems he was repeating verbals rather than reading RNS and stuff on here, knowing better than everybody else.
No riddles. My posts were plain enough for others. Just not him.

Nobody’s right all the time. But it’s misleading to say something in a particularly definitive way, that has happened or been reversed, as a fact, if it can’t be supported.

Bamps appears to be reverting to sitting on the fence after saying that the right of first refusal had lapsed. Either he knows or he doesn’t in that respect.

I must have missed that on this board.

It was sufficiently important to Ggp and Newcrest to rate a mention - so there is something in it. But today, doesn’t matter at all, now we’ve sort of bottomed it as a part only of the Scallywag conversation.