Member Info for Culpepper

As a comparator only for Wix . By no means scientific, rough and ready sort of thing, on what is recently available on sales only.

Kgf 3 year Q1 2022, UK and NI +16.7%
Wix 3 year Q1 2022, + 20.6%, rising to 23.4% for H1.

Kgf Q1 2022 -14%
Wix Q1 2022 -4% rising to +0.8% for H1.

You may find this adds a little to the generality of things.
https://www.tradinghours.com/markets/lse/hours

You probably know. Google goes on to encapsulate other trades. In the absence of a U/T it’s the mid or thereabouts on lse at close.

Just reading that Home Depot are trading on a forward PE of 19. What a difference. I think about 11 might be about the highest for such a UK company.

I think we shall have to wait for the price to follow progress. It’s just my opinion, but properly expressed I hope, gently. The highs were probably an aberration, and if that strength of buying interest continued to exist then ‘the shorters’ would have been seen off.
That will probably prove an unpopular post. It is not a fact, just seems likely to me.

As per J Barnum 2203 today. “As for the potential 40 million in "additional" funding from Tribeca, (Tribeca do not lend money, they invest in share)”

It doesn’t matter, I expect there to be other(s) but

“The Tribeca Global Natural Resources Credit Fund targets opportunities in the sector using lending, streaming and royalty structures. The Fund focuses on commodity sectors including energy, metals and mining and soft commodities. Repayment of investment structures is linked to revenue rather than net profits, prioritized through senior security ahead of equity and other creditors.”

A bit on streaming and royalties

https://www.mckinsey.com/industries/metals-and-mining/our-insights/streaming-and-royalties-in-mining-let-the-music-play-on

Of course it is. Ggp know it, Ncm know it. Some of these don’t. Or do- should put Nimho down - not in my honest opinion.

There’s this repeated insinuation that NCM are somehow interested in not getting ore processed. Ie. shoot down their own JV. Madness. Stop giving credence to the ****e. They’re both professional business outfits, with reputations to keep/build in the industry.
Play the story through logically, on what you got. 70/30, Ncm/Ggp. Both looking to profit.

And of course, they got all that rooting about, testing, sums and that to do. Hope they’re up to it. Think they must be.

Sub prime? You think potential investors will baulk at a loan, that Ggp will not get credit ? No equity? We’ve yet to find out, you and me, and they will want their pound of flesh. It’s business, hence Tribeca and the placing price( apart from giving insiders an in )
I’m suggesting that debt is the way I think it’ll go, as opposed to placing. Hopefully interest delayed, and maybe convertible to shares. Sure, the more optimistic here will likely howl and wail when terms are agreed, but something satisfactory to both, or more will be found.
But we’re not there yet. Ggp will be in early stage tee up having got Tribeca on side.
I expect they’ve cobbled something together. Don’t you?
I never talk price by the way. Not possible. So much can happen.

So now somebody wants to sell the 5%!
No, debt package to follow, hopefully with interest pushed back into production - any lender is unlikely to require interest payments where there is no income. Defeats the point.

I think all that can be concluded is the obvious, that NCM for whatever reason you like, did not want to pay 60mil dollars for an extra 5%. They have 70% - so satisfied with that. The possibility, no higher, is that they may wish to bid for the remaining 30% at some stage. But it’s done just now. Havieron matters will be reported on here as matters arise over the months, to some extent in line with expectations.
With 70%, NCM are senior partners in the JV. That’s obvious. One can but imagine in the absence of the full JVA, that Ggp have covered themselves against any conflict, perceived or otherwise, arising from that 70/30 arrangement.
The story is Havieron. But that is not Ggp’s only interest.

Right enough. From where I sit and the debt they have and the way they’ve dragged everything out I don’t think I would be signing up with them anyway. But customers have, or so they tell us, particularly second half.

Many weren’t in here at 30p or 15p on the way down. So one must try to keep things relevant to the present and foreseeable future.
Why would a cross listing diminish share liquidity??
What is the ‘discounted dilution’ you say will occur, as a result of possible cross listing?

It is not done. May not happen. But why would it diminish share liquidity?
What is the ‘discounted dilution’ you say will occur, as a result of possible cross listing?

One of those occasions when one must take the CEO’s view as likely the correct one - regardless of what people like me and you might think.

One wonders if the cost of the listing, and admin, compliance, justifies it. Many would say not. But it seems it may happen……

Tribeca may well know so. The idea in this case is to boost liquidity, more trading, make the existing shares more readily accessible to the Australian institutions, and open up the investment opportunity there - not to dilute holdings.

A cross listing is apparently contemplated, which will not involve equity issuance.

It’s academic, isn’t it.
The company has said what it needs to say already. Last time they issued equity, Ggp similarly gave details of intentions, and left it there.