Yes ,I queried my non receipt yesterday with Barclays and they said they were trying to reconcile their holdings with the registrar. I had the same situation with my BP. dividend but that was credited to my account yesterday afternoon.
GGP shouldn`t be in this position now at this late stage having to raise money to pay back the loan from Newcrest and fund our ongoing costs to production. Wit h a share price in single figures an equity raise now will cost them dearly in dilution. I agree with Jambo`s sentiments in that banks won`t be falling over themselves to grant loans to GGP especially now Newcrest have declined the chance to acquire an extra 5% at what seemed attractive terms.
The 0.52 trades are buys, mine included.
We are also earning an 80% interest in Alford East which could also be of interest to OZ once this method of copper and gold extraction is proven. OZ is a $4.5billion company and should know what they are doing so I agree this is great news and at 0.52p to buy looks good value.
There will be a shortage of copper over the next few years and to acquire a company already producing from a safe geographical area merits a premium price. BHP board knows its worth and I trust their judgement.
I`ll get back in when our funding is assured. We need NCM to buy the 5% to fund our ongoing costs up to production. We still owe them the balance of our loan from them and I feel their offer won`t be anywhere near the figures suggested by some posters on this blob. Banks in this economic climate are not keen to lend to explorers with production at least 18mths-2 years away and many more millions to be spent. I still think there is every chance we may have to raise via a placing and this is why the share is drifting.
xd re Woodside shares entitlement.
If the 5% Newcrest option takes much longer will the company need to find cash for our share of the ongoing costs? We already need to have the balance of the £50mil loan to repay Newcrest. Banks in the current climate may not be falling over themselves to lend which leaves the alternative of a placing . It seems to me it`s in Newcrest`s interest to keep us waiting and may be the reason the price is drifting.
This looks a smart move by Thor to get into the uranium market in a safe geographical area. We acquired this prospect what looks to be at a very low price, especially considering the grades shown in early prospecting.
Lenz, I would like to think you are right but we are not talking about the eventual value of Havieron . Using £85mil as the value of our 5% it would value Newcrest`s holding at around £1.19bil which would represent approx 12% of Newcrest`s current market value of £9.8bil. which at this point in time seems reasonable. If we were to use a figure of £200mil Havieron would then escalate to being 28.5% of Newcrest`s market value which at this point in time seems to me to be excessive. Newcrest know what they are doing in taking up the option now.
I know, but if I am right the shorters have nothing to fear short term but they have to close at some stage as we continue to increase our proven reserves our share price will react accordingly.
Newcrest issued the PFS at a very early stage enabling them to apply the 5% Option clause in the agreement. They knew the longer they left it the more it will cost them. The valuation will be based to a large majority on the proven reserves at this stage so I believe, as also the market is assuming, will be very much smaller than many on here are hoping for at around £80-£85mil .SB will want to conclude this deal without going to the third party arbiter so may offer a small premium to conclude the deal. Our true value lies in the remaining 25% which hopefully will be retained and mined. These are my views
and may not be what others agree with or like.
I agree the share price doesn`t come into the calculation of the value of our 5%.but does indicate the market believes the value is somewhere around £60-£70 million. If the market has got it wrong and it turns out to be £200mil we are due for a massive upward re-valuation. We shall find out in about 3 weeks time.
If the market thought we were going to get over £200 mil for our 5% we wouldn`t be languishing around our current price. I`ll go along with Seav`s valuation of around £70mi.