Member Info for Culpepper

It is. But my guess at the wording of previous, and that is all it is, is that Newcrest had a right of first refusal should Ggp wish to dispose of the Scallywag licence, and this was unaffected by the JV.

I’m just tempering the overt enthusiasm with the thought that expectations for this £400m + market cap company may be becoming beyond it’s ability as it stands today.

It might, but there’s nothing wrong with sharing risk.

There’s mention of it here. Perhaps there is more in the RNS concerned.
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/newcrest-greatland-gold-sign-jv-on-havieron-gold-project-61496429

I think Newcrest has a right of first refusal on Scallywag of some sort. I cannot find it at present.

Once you start talking about 'using' Wyloo money ( in substantial sums ) like say another 50% Havieron and the wilder stuff, you're in a different game entirely, I think. You're changing the company capitalisation and ownership beyond recognition. With that amount of ownership they would likely require a seat, maybe two, on the board. It would be a takeover in all but name, so why stop there.

If ‘investors with deep pockets’ refers to Wyloo, it is difficult to see them putting greatly more into Ggp than the company is currently worth, in advancing debt or in equity. That’s if the higher aspirations on here come to pass. There are probably more profitable ways for Wyloo to proceed within it’s own structure.

Actually, there’s a general reference here.
https://www.forbes.com/sites/allbusiness/2014/12/19/20-key-due-diligence-activities-in-a-merger-and-acquisition-transaction/?sh=1f2c77c94bfc

I have no previous experience of a share- based offer of this size, but in passing it occurs to me that NCM would be at least inclined to know what Newmont has under the bonnet, also. No matter to Ggp.

Subject to full due diligence under a non-binding agreement it could drag on for a while.

Actually, I think the point must be that Genedrive ( and others ) has speculators at this time in sufficient numbers, whereas Ggp does not.

Sprout. Are you making a point on that in relation to Ggp?

It’s bound to be loss making until it has at least revenues. Pretty obvious.

How did anyone expect it to be paid? Still awaiting the ability to draw down and pay it off.

JB. It’s been mentioned before and on Share Talk and is by far the easiest transaction to contemplate, should the Newmont deal go through, or perhaps even if it doesn’t, if someone sees Telfer/Hav as a reasonably attractive proposition.

Options and that, is all I generally think. Rewards.

It’s explained.
Greatland recognised a share-based payment expense during the period of £9.2 million as a result of the grant of investment options and performance rights.

The Company granted 235,000,000 co-investment options to subscribe for new ordinary shares in the Company to four of its directors. The co-investment option structure has been designed to create strong and immediate alignment with shareholders to deliver substantial share price growth, with the options being set at £0.119, representing a 45% premium to the equity placement in August 2022 of £0.082.

In addition, the Group issued 22,000,000 performance rights under the Company's Long Term Incentive Plan (LTIP) in July 2022. The LTIP is an important aspect of Greatland's remuneration structure and it is designed to align the interests of employees (including executive directors) and shareholders through the creation of shareholder value over the longer term. Under the LTIP, participants are granted performance rights which only vest if certain performance standards are met.

Takeover rumours seen as possible by sufficient pi’s would normally see an increase in share price. So I don’t think there’s a concensus about that.

It’s difficult to know what a low ball offer is, without putting a value on the metal in the ground and intended to be mined at whatever cost on to date data.
If it does not represent a value the board is willing to put to shareholders, it will be rejected.

The fundamental issue is insufficient buying against the selling, for whatever reason.
I do not know what expectations are for Thursday, in the absence of info being released to markets before. But well done to those who put themselves out to attend.