Member Info for Culpepper

“Hi Z, just been discussing in TG that the oddest thing is no one really ever considered a positive reason to delay the DFS, we were constantly treating the possibility as only negative and unlikely. “
You might not have. But I’m sure many others did. This, like most boards, polarises around certain ‘acceptable’ views.

Yes. Though I find what comes out of Town Hall meetings interesting to read, it cannot be relied upon as definitive of what will appear in a subsequent RNS.

Not if you find you’ve jumped the gun or otherwise got your tactics wrong.

“Further optimisation work is underway as part of the Feasibility Study which will contribute to offsetting any potential impact of inflation”

Highly important when one considers profitability over the years and will obviously impact decision to mine. Cheaper they can get it out, the more profit they will make, and that will flow into decisions made between them and Newcrest on contracts to be entered into for sale of the product, ensuring at the very least sustainability of future operations.

It’s obvious that future outcomes will be the result of the difference between costs and sales.

Not interested in setting records for digging. Very interested in profitability.

There was always the possibility of slippage or further work. Not abnormal, and for me not entirely unexpected.. This board visited the possibility of delay in a decision to mine. This seems to me in the round to be delaying the FS in order to deal more readily and decisively with the decision to mine.
It pays to manage expectations. Certainly on timing.

More went on there than I intended. Approx one third as interim, two thirds as final.

Depends what period you use? I’m looking at divi arising from projected adjusted profit after tax for this financial year. What you say is right, but I may be also? New holders won’t get the divi we got.
“The Board has declared an interim dividend of 3.6p, which will be paid on 4 November 2022 to shareholders on the register at the close of business on 30 September 2022.

The shares will be quoted ex-dividend on 29 September 2022. Shareholders in the UK may elect to reinvest their dividend in the Dividend Reinvestment Plan (DRIP). The last date for receipt of DRIP elections and revocations will be 14 October 2022.

We recognise the importance of cash returns to our shareholders, and, at our FY 2021 results, we announced an enhanced payout ratio of 40% of adjusted profit after tax, with approximately one third to typically be paid as an interim dividend. While there are well-documented headwinds for the sector to navigate, given the cash generative nature of our business and the strength of our balance sheet, and on the basis that adjusted profit before tax falls within the current guidance range, we intend to maintain the full year dividend per share at last year’s level.”


T

If 10.8 p per share is paid out as indicated ( 3 x 3.6p ) and you bought shares at 127p (todays price ) I make the divi yield 8.5%. It will obviously vary with the share price.

That’s one of the reasons for the proposed ASX cross-listing, isn’t it? To create interest and fulfil criteria for Australian investment, one way or another, and tie up some of this free float.
Consolidation may also help in that respect.

And it all comes back to that.

"This Fundraising will be instrumental to driving growth throughout our exciting portfolio in Greenland, where we occupy a leading position in what is one of the last frontiers for Western governments and companies to secure the strategic minerals that will prove vital in the coming decades. On completion of the Fundraising, the funds raised will enable us to progress the development of our flagship Nalunaq gold project, one of the highest-grade gold deposits in the world, whilst accelerating exploration of our strategic minerals assets to provide raw materials needed for the energy transition."

For the record.

https://www.lse.co.uk/rns/AMRQ/update-on-listing-on-first-north-iceland-yit58ucjjn2haee.html

That’s the nub of it.
“We are honoured to be listing on First North Iceland. From 1 November we will be able to offer our shares to a larger marketplace, in particular to Iceland, a growing economic market where the Greenland growth story is a well followed current topic. Trading Amaroq IDRs on First North will offer Icelandic investors exposure to Amaroq's high-value precious and strategic energy transition minerals asset portfolio in South Greenland.”
"The close cooperation between Greenland and Iceland paints a very strong growth picture. Both countries are harnessing their natural energy resources sustainably, demonstrating that self-reliance in energy is essential for economic growth and stability. The free trading agreements recently agreed between Iceland and Greenland are testimony to the goodwill of enterprise between the jurisdictions."

I should say my thoughts take me nowhere on that. They’re an unpredictable outfit, but can be relied upon to put the Mxc partners and concert party first.

Once this lot is done thoughts must go to how Mxc will exit to advantage with their 83% shareholding. They have said they have no ‘current’ intentions of taking IDE private. Their other investments, excluding the stake in Cloudcoco are private ones.
They have given themselves a limited ( though could be extended ) time in which to wind up Mxc, and take their lifetimes profits.

Ggp is going through a phased process, as one would reasonably expect, and as far as one can tell indications are successfully so.

He has done well. And has wisely taken Ggp to a point where responsibility for ongoing strategy is shared amongst a whole new experienced bunch, bringing much greater experience to bear.

Do it for Yorkshire!

Now, having said that, everything may go like greased lightening, or for very good reason it may not go quite as quickly as some on here would prefer to think.

In the real world, the business world, professional world, with real money and reputations at stake, actions have to be justified. Or you’re held to account, and pay the price.

Back to the same old merry go round. They both signed a JV, been working together, with the intention that Ggp’s ore would be processed at Telfer mixed up with Ncm’s stuff. Biswas said so. Day said so.
Don’t know, but I would expect the JV to go in some measure to that, or they’ve all left something very pertinent to chance. And Wyloo ( and the new directors ) will have made sure they’re not joining up with some half-arsed company.
But pessimism continues to reign. To each his own decisions.

If a delay it is reasonable for some as yet unknown reason, presumably Ggp will agree. If unreasonable, then one must rely upon the lawyers representing Ggp when the JV was drawn up. And possibly the courts, which would be a real headache. Won’t be a first in the JV world I’ve read.
Can’t see the point in continuing to bash NCM from some sort of spite platform. Unrealistic, for all the reasons given over the weeks. It’ll take it’s natural course.
Anyway, you floated it.