Member Info for Culpepper

Wyloo won’t be diluted, could, probably will have to, buy more, if any of this comes about. They can execute their warrants too, as stated. Or they can take the lot, supported by their own backers. They’ve played this ‘game of chess’ before. The moves are well orchestrated. Nobody playing blind.

And I’ve seen it before when a company is cash-strapped too, and raise through equity with an existing investor.. Ggp/Wyloo simply get a waiver.

Sand. That’s the mandatory offer 30% thing. Doesn’t apply here.

As I have said before, one gets into the reality of a £400m market cap company completing the sort of deals some on here envisage, then I run into trouble, in Ggp current corporate form.30% of Havieron resources is small in relation to an operation of 100% Hav, and including Telfer. Just can’t see it.

If all this has substance, I prefer a buyout at premium. It is entirely possible for Wyloo to take the operation and existing team run it on.

I go back and look at the beefing up of the management team, and Mr. Tyrell’s appointment and responsibilities, regarding ore into Telfer. Just another factor, but one we know has happened and been said.

There’s little more in the article to what has been mentioned here since the Newmont bid, save that Telfer may be for sale regardless of the outcome.
At the moment, the price is rising, certainly not diving, which would indicate to me that punters are not concerned about dilution, perhaps seeing one of the possible deals as helpful to the price ( generally unusual )or foresee a buyout premium.
The story may run on.

Prime movers, Newcrest, developing it, are as much against the clock as Ggp. The Havieron mine and Telfer processing are effectively a job lot for them, with Newcrest’s costings on their 70% including those required to upgrade Telfer.

https://www.theretailbulletin.com/home-and-diy/wickes-to-unveil-new-store-in-chelmsford-28-02-2023/

You plainly don’t like my posting. You know how to deal with that. I won’t give you advice, but I hope you have a big computer.

You posted what I posted.
Seems straightforward.
I think they are all in Australia.That is where their interests lie. If they have business in the UK. They will travel. It’s OK by me.

I think we’re agreed. The Newmount bid and the possible disposal of non-core assets has increased dialogue here. I am not sure that 70% of Havieron would necessarily be viewed as non-core, particularly with Telfer in the background.
I don’t know, but I suspect it will be months rather than weeks for due diligence, tentative enquiries possibly involving other parties, to result in anything affecting Ggp to be made public.

It may be that some posters are misinterpreting what I take to be Redtraders broad point. The more progress that is made ( and length of decline has been a measure of progress on this bb ) the more bankable the Havieron project becomes, whilst still being funded by Newcrest under existing arrangements. I have no issue with that line of thought, particularly if there were to be any change to the JV arrangements.

As I have said before, talk of turning hostile and all that is uncalled for. Corporate people can generally accommodate each other on a shared objective. In this case, making best use of company, and other assets, for ultimate profit, under whatever structure.

It’s conjecture, some more extreme than others. We have no idea what may be in their minds.
Imagining you know is nonsense.

I accept if Ggp is to go on and expand in it’s current corporate form, it will need to raise cash through debt/equity, particularly if it tries to do so before it has any income.

I think if you’re talking that you’re talking closer to a Ggp buyout, from those with the funds and clout to support it. But I know I shall be in the minority on here.

I know you’re particularly bullish on the big spend.
———

“Well its a question that I have been thinking about for some months now. It would be a lot of money, a lot of dilution and some of you might not like the terms, as it will require a lot of new shares being issued. Banks will probably require at least half of the money coming from equity. So just for starters:?A placing to Wyloo at say 10p. A one for one rights issue at say 10p, fully underwritten by Wyloo. A lot of bank debt. ?This would give us all of Hav, the Telfer mine and processing plant and all the NC JVs in the region.”

———

Seems a stretch for this £400+m company, so I at least can see some pi reservations, and somebody might as well take the lot. ButI’d be happy with that, as long as there’s profit in it.

Bamps “No directors in London would be bad news for us.”
and
“We still need a proportion of the Board to be London based”
Are any of them, or the management team? Presumably board meetings are held in Subiaco, Perth.

The pub, excepted!