Member Info for Culpepper

I tend to agree with that last, as I said, something ex Havieron would be excellent, as I sense the Havieron story has lost its legs for now.
BOD will work it out.

It’s a cross listing isn’t it? A bit different is all, for the future.

They have enough combined experience on board now to hack into the value chain, on Havieron and other projects, looking to competitive advantage on costs, and all that stuff they’re paid to do.

And the copper, too.

As I read it, ggp/Ncm will forward sell production under contract, thus ironing out fluctuations in the price.

It’s off some, isn’t it, but the closer ggp get to production the greater will be the interest in the gold price. Stands to reason, the difference between cost and sales will arguably be a greater influence on profitability, and therefore the sp, than gold in the ground which will go fundamentally to sustainability and life of mine.
Hoping for something new, now, sometime.

On the FS, I read into the announcements that Mr. Jimmy Wilson in his part-time capacity will be the liaison with Newcrest, and shepherding the FS through.

If there’s an area where Ggp is light, it’s probably on the share register. Not enough over 3% holders who will see this through, and if there is such a thing too many pi’s through nominee accounts.
I would expect them to be working at that. There will be greater opportunity to do so with a cross listing, and, probably, consolidation.

You see, the banks have agreed in principle to advance money against the Havieron project at what seems to me to be very competitive rates. Certainly compared to the Newcrest loan.
You can be sure they will be vigilant in assuring their own best interests.
But for clarity I am not commenting on the outcomes, more the process and criteria ( no knowledge of specifics ) and the scrutiny common sense says will be given to the financial packages by each bank concerned.

Not only that I suspect. More ore will also aid financiers decisions, obviously.
Financial close and draw down is subject to customary project financing conditions including completion of reporting requirements, Feasibility Study criteria and agreeing final documentation.

It highlights the importance of getting the feasibility study as watertight as possible at this stage, in order to present it to the banks for ongoing authority, and prior to publishing a decision to mine.

You find the detail in today’s RNS insufficient? I don’t.

It is a joint venture. Though at times they will present in different ways, representing what they see as their own best interests, and that of their own shareholders, it is patently obvious that the success of the joint venture is reliant on sensible communication and practical considerations, on which it is easy to cooperate.
Each has their eyes on the other, naturally enough - but why would either wish to upset the applecart, or kill the golden goose.

And like self-build, stage payments.

You see, the banks have agreed in principle to provide cash for a specific purpose, against the mine development. Their collateral, if you like. They will pay as you go on that.
Anything else I suggest, falls entirely outside that agreement in principle.

Bank lending.
“Proceeds from the first drawdown are expected to repay the existing Newcrest Loan Agreement. This will provide a substantial cost saving by reducing interest from benchmark plus 8.00% down to benchmark plus 3.50%”

Thereafter, ggp will not wish to pay interest on money they are not putting to good use.

No. They’re patient money. And will have looked into the detail knowing the ins and outs of everything pertaining to a speculative investment being derisked as time passes. The banks won’t permit drawdowns without evidence of satisfactory progress from their own experts assessments.

Ace. Yes and yes.
Pretty obvious really, isn’t it?

From what I read, drilling as a means of further delineating the layout of the ore body will continue after decision to mine and mining has commenced.

These things rarely go to PI expectations. No seat in any of the boardrooms and all that.
More than anything else, I now rely upon Tribeca and Wyloo to have done what they needed to inform their decision to invest, and the same with the banks, who obviously will also be interested in the feasibility study, and the totality of what comes next.