RE: Newcrest tackles costs, gets first strike10 Nov 2022 08:58
If you read my posts on the subject you will find that I have not criticised any post, or made light of what was said. It appears it comes down to not liking the reference to chit chat as I described the reporting about Ncm.
With regard to chit chat, I still think it is from a ggp standpoint.
“Newcrest says it will consider changes to the gold miner's pay structure following today's vote.” And so they will, with possibilities in mind for the individuals concerned and upheaval for the company, if they do not. And everyone may be satisfied. If not, then in a years time, it will raise it’s head again.
I do not fail to appreciate the granular nature of some people’s research, nor do I necessarily respond to it, as in this case. But I did respond to the reporting of NCM AGM. I contend there are more important, and real known issues that will fall to occur during the next 12 months, prior to Newcrests next AGM. It’s way off, it seems, so I am not personally inclined to pick it over. At the moment, it’s noise.
On granular research, I do wish people would not get so far ahead of themselves ( their choice ) As with the 5%. The ‘fully funded’ is another. It’s in principle. As RNS’d. Subject to banks, and on the old study and documents presented. Mr Day will have to go to them again ( or issue equity maybe ) when he seeks to fund under the new study, in respect of which Ggp is well-funded, in principle.
I have posted before that NCM and Ggp present differently, and will have eyes on each other relative to the JV. Of course they will. It scarcely needs saying, but at the time it appeared pertinent to discussion, so I did. Nothing has changed about that. Ggp board will be far ahead of us, on who’s running what withiin the JV. Ncm and Ggp meet regularly, I have little doubt, at different levels. I credit the board (and Ggp employees ) with the sense and foresight to take whatever action is necessary across the whole range of their responsibilities. I am sure others do also.
That’s my final on this matter. Most won’t read it because old Culpepper green binned. So green binning and reporting nobody, he will know more than most of what’s on here and won’t have to take a sneaky peek.
On “not bringing much to the party”, I’ve been to better ones. I think it’ll liven up though - I think Wyloo and Co will help see to that. A lot of water to go under the bridge here over next 12 months. It’ll be about the money, whatever chair somebody’s sitting it. It always is. It has to be.
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