Member Info for Culpepper

The Company will also issue to Wyloo (through its wholly owned subsidiary Wyloo Consolidated Investments Pty Ltd) warrants to subscribe for up to an additional 352,620,000 Ordinary Shares which, if exercised in full, will realise gross proceeds of £35m (c.A$60m). The Warrants have an exercise price of 10.0 pence per Ordinary Share and may be exercised at any time up to the third anniversary of grant. If the Warrants are exercised in full, the average price of Wyloo's investment on Greatland would be just over 9.0 pence per Ordinary Share being a 10.6 per cent premium to the five-day VWAP to 9 September 2022.

And that summarises Wyloos known equity position.

When completed, the Wyloo Placement will result in Wyloo (through its wholly owned subsidiary Wyloo Consolidated Investments Pty Ltd) becoming Greatland's largest shareholder with approximately 8.6 per cent of shares on issue. Upon exercise of the Wyloo Warrants in full, Wyloo's shareholding in Greatland would increase to approximately 14.6 per cent.

15th. Sept. “We reaffirm our guidance for full year adjusted PBT in the range of £72 - 82m.”
Wickes had a record first half. £45.6m. They need £26.4m - £36.4m this half to fall within.

Maybe Wood’s £150k buy @ 123p. mid September can be taken as providing grounds for optimism on the 3rd quarter - though he is down on previous buys.

You see, on the question of funding, and there has been ‘argument about ‘fully funded ‘the ‘official’ RNS position appears to be this :-
“Completion of the debt facilities and Wyloo Placement will enable Greatland to be fully funded for its 30 per cent share of the Havieron project development based upon the October 2021 2Mtpa Pre-Feasibility Study; and well positioned to be fully funded in respect of the Feasibility Study targeting an expansion to around 3Mtpa due in the December 2022 quarter.”

Can’t see there’s much to argue about. Waiting on results from 2022 drilling campaign in a general sense, and, one imagines at Havieron a positive definitive feasibility study. Though that may throw up economic/engineering considerations that need addressing for optimal results. Then the bankability of the project on a long term basis, ie long term profitability, can be further considered.
An opinion on what I read - the mining experts on here will know better than me.

Q3. 21st. October
https://www.wickesplc.co.uk/investors/investors-overview/financial-calendar/

Yes. There is little point in going around in circles. Decide it and move on. If I am wrong, then OK.

Tribeca is cornerstone, Wyloo is strategic, as stated in the RNSs, and in line with the reasons given.
I do not see the 138m as confusing, if you look at the total numbers, as per my earlier post.
Not addressed to me, but
Shares subject to lock in 138981150

https://greatlandgold.com/investors/share-information/

Transaction giving rise

https://www.investegate.co.uk/greatland-gold-plc--ggp-/rns/update-on-havieron-consideration/202207141203555093S/

Tribeca had 138800022

Do I have that wrong?

Chat source I mean.

Thanks for that, bringing the info over. I confess one thread is enough for me!

Thanks for that.

Yes. I too await some further information. I am never convinced by ‘looks like.’ Perhaps there is more to come.

I take it RNS by RNS, having learned that my thoughts are just that. No predictions.

What does that mean exactly? Meat on the bones sort of thing.

So I’m thinking, if the feasibility study does indeed come off to the extent anticipated, and on to mine, then there is a fair chance that Wyloo could bid into it, for their future requirements as a major, at 30 - 40% premium. Wyloo is experienced, and would have covered all bases before taking an initial stake,etc.

Cut and paste, very basic but the sort of thing I go by, bearing in mind each mine will have differing issues, and each feasibility study may be qualified by engineering, infrastructure etc. constraints.

Different Risks, Different Rewards
If a mining major has hundreds of deposits staked or being mined, the contents of any single deposit aren't likely to shake the stock value too much. A major is the sum of all the deposits with the aforementioned goodwill tied to history.

A change in the market value of a mineral that makes up a larger percentage of the deposits will have a much larger effect than a new deposit or a failed deposit. A junior mining stock lives or dies on the results of its feasibility studies.

A junior mining stock typically sees the most action leading up to, and immediately after, a feasibility study. If the study is positive, then the value of the company may shoot up. The opposite, of course, is also true. Often, a junior miner won't mine a feasible deposit to the end.

Instead, they sell the deposit (or themselves) to a larger miner and move on to search for another one. In this sense, junior mining stocks form an exploration pipeline that feeds the major miners in the end. In this view, the big risks and rewards mostly reside at the junior mining level.

Were the placing shares subject to a lock in, the RNS would give that as an attached condition. PDMRs taking part would be similarly constrained.

Not addressed to me, but
Shares subject to lock in 138981150

https://greatlandgold.com/investors/share-information/

Transaction giving rise

https://www.investegate.co.uk/greatland-gold-plc--ggp-/rns/update-on-havieron-consideration/202207141203555093S/

Tribeca had 138800022

Do I have that wrong?

Yes. Just summarising the knowns on price as we wait on the company.

It’s been bouncing off 8p.ish. In the absence of news, I really would expect it to at least settle around the 8.2p placing price discovery, before moving on as selling wanes and peters out.
The next known price point will be Wyloos opportunity to exercise warrants and buy more new shares at 10p. But they have 3 years in which to do that, and finish up with a 9p average as things stand.
A little early yet. See how we go.