Member Info for Culpepper

Yep. Be like outer space. All dark and nothingness.

They got Havieron. They’re looking for something else. As an exploration company, and going on a miner, that’s what we expect. And to make the best of their opportunities, ASX listing, acquisitio(s) availability of capital, partnerships etc etc.
They have a half tidy management team in place, scientific/technical support, and tenements to root about in. Up to that lot, isn’t it?
And I wish them luck based on their endeavours.

Yes. As long as they do what they say, I don’t give a damn.
https://greatlandgold.com/about-us/vision-and-strategy/

To clarify, we reasonably anticipate a couple of important issues to be reported upon over the next say 6 months. Following which we reassess.
That’s enough for me. One step at a time.

I understand what you say. But I suspect we are all in the same boat whilst holding. Waiting to see what happens next, News, with no idea what the position will actually be in several years time. Expectations will likely change with events.

I always try to look at these things as an outsider looking in. Trying to find balance on the known, rather than trying to represent a vested interest in the unknown.

You can say that, but the joint venture was and is the way forward for Greatland and Ncm..They each signed up to it to mutual advantage. A success for both at the time.
I see no reason to attempt to throw the thing into doubt, as seems to be the case on here at times, with little or no real justification. It doesn’t stand up.
I think it’s a form of paranoia. Like with JPM.

That’s got to be right. No need to keep looking under the bed for boogeymen. Keep doing it, none found yet.
Anyway, no point. Mostly, we won’t know what’s going on until we’re told. Same as always, any share.
Going alright so far, isn’t it?

Assuming a decision to mine. There may be something prior, but the next foreseen exchange with Ncm may arise from this.

“The tolling principles include an agreed processing fee formula, which includes charges for capital costs incurred in upgrading the Telfer facilities, as required, to treat Havieron ore in the
tolling process. The Telfer infrastructure is not included in the scope of the Joint Venture assets, so the TollingAgreement is the route by which Greatland will bear the capital, operating and haulage costs involved with processing Havieron ore.”

What ‘silly games’ have you reason to think Ncm want to play?

Notably, the Study assumes that Havieron is the sole ore feed for the Telfer plant and does not assume any potential upside from the extension of Telfer's mine life beyond FY24. We continue to assess the potential for further open pit and underground opportunities at Telfer to extend its life and supplement production from Havieron in FY24 and beyond" said Mr Biswas.

It seems generally agreed that Telfer needs Havieron ore. Ncm needs Havieron ore - Ncm appear to have recognised that.
I have not seen the full JV.
However, I have seen this- “The Havieron Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program and Feasibility Study and a positive Decision to Mine, the resulting joint venture mineralised material will be processed at Telfer.”

Funding, and the appointment of the strengthened board, was a watershed moment for Ggp. Read line by line, the appointments RNS clearly indicates a strategy to bolster ability in the Ggp/Ncm relationship, as well as non Havieron prospects. Wyloo, who I think are likely to maintain the position of major shareholder, will be supportive, owned by Tatteranga ( Forrest family holding company ) and going through Tatteranga and certainly Barnabas there are links to Fortescue/Forrest. And another director to come, I think.
Just repeating the rather obvious nature of the recently formed set-up. I may have missed something out.
I have reached the stage of taking the view that moving forward, Ncm’s failure to take up the 5% amounts to no more than good fortune for Ggp.

PS Can’t see any reason at all to mess with divi.

Yes, it’s in the macro. As micro’s go in the sector, no reason to doubt company progress!

Steady buying today so far. Whipped it down to pick up some at 35.25 before resuming normal.

At around 5 times adjusted earnings consensus, it would normally re regarded as cheap.

Continued

WHAT IS THE LIBERUM VIEW?
Liberum Capital, which has a ‘buy’ rating and 360p price target for Wickes, said the third quarter delivered ‘a robust performance with a stabilisation in the core division’ and noted that ‘DIFM is delivering on its elevated order book and the group continues to make good progress on its strategy’.
The broker continued: ‘With the group showing a resilient performance and stabilisation post the summer, this bodes well for earnings for this financial year. While energy costs impact the numbers, the rest of the P&L (profit and loss account) remains unchanged.
‘We should not forget that one-off de-merger costs do not repeat next year meaning Wickes offers a circa 20% free cash flow yield, highlighting a valuation that is significantly out of kilter with what the group is delivering and its prospects.’

Shares Mag today.

DIY retailer delivers flat core sales
- Maintains full year profit guidance
- Liberum says shares are far too cheap
Shares in Wickes (WIX) weakened 7% to 116p after the home improvement retailer reported flat third quarter like-for-like sales in its core business as the pandemic-induced DIY boom lost momentum and hard-pressed UK consumers deferred big ticket projects.
However, there was some relief for investors as Wickes left full year pre-tax profit guidance unchanged in the £72 million to £82 million range following what management insisted was a ‘stable’ third quarter performance.
WHY DID Q3 CORE SALES FALL FLAT?
Wickes delivered total like-for-like sales growth of 2.6% for the 13 weeks to 1 October 2022, up from 0.8% in the first half as its Do-it-for-me (DIFM) business worked through a bumper order book.
Like-for-likes in the core business, which includes DIY product and local trade sales, ground to a halt as trading in July and August was impacted by the heatwave and DIY sales softened amid the escalating cost-of-living crisis.
According to the latest figures from the Office for National Statistics (ONS), UK retail sales suffered a bigger-than-expected decline in September. High inflation weighed heavily on consumer spending power and contributed to a fall of 1.4% in both sales values and volumes last month.
While the Covid-induced DIY boom is fading, Wickes’ core like-for-likes were 27.3% ahead on a three year basis.
This underscores the market share gains the kitchen, bathroom, tool and timber seller made during the pandemic. Wickes also pointed out that core sales have actually strengthened since the beginning of September.
WOOD SAYS WICKES IS WELL PLACED
Accordingly, Wickes is sticking with its guidance for full year adjusted pre-tax profit to fall from £85 million to within the £72 million to £82 million range.
Yet looking further ahead, the retailer warned ‘uncertainties remain regarding consumer confidence and operating cost inflation’ and that its costs will be impacted by rising energy prices.
Chief executive David Wood commented: ‘This has been a period of further progress across all parts of the business, with customers and tradespeople continuing to come to Wickes on the strength of our value, availability and service.
‘While we are watchful of external headwinds, we are continuing to focus on our growth levers and on maintaining rigorous control of our costs. Our uniquely balanced business model leaves us well placed to continue to outperform the market.’

Energy bills not a happy thought today. Just imagine B and Q’s.