Member Info for Culpepper

Ie. Even such things as the 70/30 split can be brought back to the table, subject to overall agreement at a point in time.

As usual, if the JV agreement is up to snuff, it can be changed by mutual agreement in any or all respects. Other than that, Ggp and Newcrest are both stuck with whatever the detail says.

On the information we have, as far as it’s got, that’s right. But I think the case will be that if and when Newmont are permitted to get into due diligence proper, there are likely to be restrictions on any substantial changes to the Newcrest asset base - subject to agreement.

Give Ggp £35m, Wyloo 14.6% ( as was ) at average of 9p. per share, and further price disclosure at 10p. But they can do that as and when.

Wyloo can exercise the warrants whenever they want should they want the votes that go with them. But you’d normally expect them to get in the money first.

Vagar Ridge results

https://www.lse.co.uk/rns/AMRQ/vagar-licence-exploration-results-sw06pana635lycc.html

A comment, I believe for clarity.
Unless I am mistaken the company Fortescue Metals does not own Wyloo.
Wyloo is owned/controlled by Andrew Forrest.

In passing, it appeared to me that the equivalent takeover panel in Australia is not as prominent as in the U.K.
Govt consent seems also to be required, having regard to NCM value as an Australian company.

I make no comment on your post, but I did have a look at a summary of ‘Australian takeover rules’ earlier, to get an idea of things, just out of interest. I don’t put it forward as something necessarily to date, or to be relied upon. But for anybody wanting maybe a taste.
https://www.bakermckenzie.com/-/media/files/people/lustig-richard/bk_australia_takeoversguide_jan2018.pdf?la=en

“JPM will close the short.”
How do you know they haven’t, ages ago?

You’re still ducking it. I’ll ask you this on this board where you’re posting.
What’s the update on the JPM short since you were postin then? Up, down, or last seen below 0.5%.
But if you don’t want to answer, we’ll both move on.

I think that was all to do with JPM conspiring with Newcrest ( or could be anyone ) to bring the price down so Greatland shares could be bought cheap.
Yesterday’s scheme. An old hat one now, of course. Don’t fit.

Rubbish. You were ducking and diving and going historic.
But now you concede there may not be one.

What’s the conflict?

Don’t think there is one. I asked before on the short on Greatland that was alleged to exist, but got nowhere other than being told it was a secret.
You’ll get no substantive answer on that. But they’ll bang on about it.

For them that don’t know perhaps, it’s mandatory offers.
https://burlingtonslegal.com/insight/when-do-you-need-to-make-a-mandatory-offer-under-the-takeover-code/

No doubt Ggp and Mr. Day have a plan. What we never know is who been hatching what with whom, and how it’s designed to play out for pi’s, and, more importantly to them what’s putting up any cash, how much over the years they’ll make on it.
It’s the way it mostly goes.

Havieron will go on, with or without us. Shuffle this and that. Corporate thinking will prevail, as always.

No questions. So Ggp gobbled up by private Wyloo, and we get the push at a price. It’s what happens.

The RNS, to me, hints at least at Ggp taking responsibility for more of what was previously Newcrests, and whoever might finish up with the 70%.

It may be just coincidental, but seems to restate the terms of the JV insofar as Telfer is concerned. Just a comment, but I thought that role would be one for NCM. Maybe.
“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.”