Member Info for Culpepper

Anything can be done by agreement on contractual matters. So in that respect, the terms of the JVA as they exist can be changed in whole or in part, and it is not necessarily adversarial.

Yes but no but from me. I’m just a pi. People talk about Mr. Day being a chess master. We tend to be the pawns when the corporates play. But I think I shall make some cash even if taken off the board.

There’s a likelihood there’s money in it whatever happens for pi’s, particularly at this price I think. To that extent it’s a win/win.

The point is really, the project will go on in whatever corporate form. The doubt Mr. Baxter raises is whether or not pi’s will go on as Ggp shareholders.

"IF NEWMONT WANT TO HOLD ON TO TELFER AND THE PATERSON ASSETS, THATS FANTASTIC, AND POTENTIALLY THEY WILL WANT TO BUY GREATLAND, OR THEIR PORTIN OF HAVIERON IN THAT PROCESS, “

Well, of course, you really have to take the corporate view, that’s what they all give, all of them, naturally enough, even as shareholders.

So his first option given is a buyout of Greatland, or Hav. I’m up for the buyout of Ggp, not so much for the asset.

Telfer is key. It is the one aspect that we have little to no information on in the event of the apparently forthcoming partnership change and the JVA subject to renegotiation. We know Ggp retains its 30%, that it has first refusal on the 70% under certain circumstances, and that’s about it. Though the signs are good, and one would expect it the JVA to be watertight.

Can't be helped, and I'd be more than just surprised if it wasn't all covered, but it's a pity from a bb aspect that we don't have the full detail, specifically around Telfer. Though I know that that featured in the JVA as to intentions, tolling arrangements.

I don't know how this will pan out, but if you're talking 100% of the asset you're talking 100% of the cost of development also. And there's the crucial ( to Ggp ) Telfer too.
I have little doubt though, that somebody has a proposal to make it work.

I thought it sensible to start again with the thinking, rather than just bids for this and that. New beginnings maybe. Does Ggp need a partner. If so, what sort. And Wyloo being in house with their considerable expertise and clout. That sort of thing.

“ In his role as Chief Operating Officer, Mr Tyrrell will lead Greatland's technical team and oversee the transition of Havieron from development to production including the integration of Havieron into the Telfer processing plant. ”

I have turned to wondering ( and alluded to yesterday ) that with the new board appointments and its current constitution, how well Ggp are placed to take on the Havieron work being conducted by Newcrest as developers. I imagine contractors and so on could be transferred. I mention it because, in particular, the brief job spec given in respect of Mr. Tyrrel, seems to lead in that direction, as I mentioned yesterday, being something I thought would have naturally fallen to Newcrest as site developers, and as owners of Telfer, under pre-merger talk arrangements.

Their advisors probably got some work on, or will have when and if things move along, particularly if there’s any splitting up of the assets coming into it, to get best overall value for shareholders in the end.

At the moment the ball is in NCM’s court, and they have thinking to do. I imagine whilst being badgered quietly by who knows who looking to see if there’s an opportunity to exploit.
No doubt Ggp been on the blower at the very least, at some early stage.

I don’t think time is of the essence with these people quite so much as with Ggp and pi’s. They truly will be patient, looking to the stage when their upfront cash is being ‘paid back’ in the accounts, and then into years of profit down the line.
See no reason why anybody would not wish to continue developing Havieron at speed.

I anticipate new documents, anyway on Havieron, if any change of ownership at NCM.Could be a new JVA, new partnership in whatever amounts may be negotiated, and anything else that they all carve up between them. It’s pretty wide open if you put all the potential parties in a room.

But I think Mr. Day may also have said something at one of the Town Hall jobs.
Nothing to write home about anyway, at that time.

On here to make it clear. Nobody of note.

There been conversation about that listing, as you know, which may or may not be timed in connection with a fundraise, which also may or may not be under greater consideration as circumstances present.