Member Info for Dip666

Targets can be event based as well as price based Freddie or a combination :-)

Link to presentation slides that are also a good reference to get an overview of the Valmin Code and a bit on the 'Reasonable Test' towards the end
https://www.csaglobal.com/wp-content/uploads/2019/11/MGEI-2016_The-VALMIN-Code_Ivy-Chen_October_2016.pdf

AIG RPGeo E-Forum Series: Mineral Asset Valuation, by Trivindren Naidoo, Mark Berry & Shaun Barry
https://www.youtube.com/watch?v=Odc0Y0ppI1E&list=WL

I'd highly recommend watching this YouTube presentation as it helps understand the valuation process and application of the Valmin Code really effectively.

Freddie - no one is going to be able to give an accurate answer bar the person who ends up creating an independent Valmin valuation if needed to help select the closest valuation from both parties. And they won't know that until they start the process.

If you read the Valmin code and the other docs, you'll see there are a variety of valuation methods, very hard to predict exactly what method/s an assessor picks and what they will include exactly when it comes to include exploration and potential using unofficial information not included in PFS/Resource estimates.

Process:
1) Newcrest want to agree the option exercise price by mid feb 2022,
2) If Newcrest/GGP do not mutually agree on a Fair Market Value by this date then both parties put forward their own valuations
3) If both valuations are within 10% of each other, then the average will be considered the valuation for Newcrest to exercise their 5% option.
4) If there is a greater than 10% disparity, an independent expert is brought in to choose which one of the estimates is fair market value, so I assume that is the price that needs to be paid by Newcrest.
5) Newcrest then has 30 business days to exercise its option to acquire the additional 5%.
6) Should they choose to go ahead, then proceeds from the exercise will be used to repay the outstanding balance of the existing loan we have from Newcrest.

Docs:
https://www.valmin.org/
https://download.asic.gov.au/media/5827832/rg111-published-22-october-2020.pdf
https://download.asic.gov.au/media/1240943/rg170-010411.pdf
https://asic.gov.au/regulatory-resources/takeovers/forward-looking-statements/mining-and-resources-forward-looking-statements/

It's not Chris2 anymore guys and gals

He's now known as 'MC Cash Cow' - rapping his way to a richer tomorrow........sometime in the far far distant tomorrow that is....... lol

Also agree - Bucakaroo was amazing and used to love Operation too ......... fond memories of mass punch ups caused by Monopoly in our family - and that's as adults!

OMG - so sorry steviom lol

I had you mixed up with that plonker - my deepest apologies!

I might as well have called you every cussword in the dictionary and not insulted you as much - sorry bud!

Thanks 5x5 - blame the xmas alcohol intake for the mistaken identity :-))

Keep crying with laughter Steviom :-)

Doubt you're laughing as much as many of us laugh at your fantastical fiction around your HNW group of secret squirrel investors ready for a takeover!

Talking of squirrels - plenty playing out there in the tree's behind my house with a higher level of intelligence than you too ROFL

@smiller - fair points mate and once they've conducted some desktop research utilising the new date in conjunction with drill results etc., would be a great idea to have a webinar to discuss the munni munni/EH opportunity.

@Steviom - no chance buckaroo - if I ever had any concerns I'd happily team up with others but you........not a chance, you're only here to help yourself not collaborate and be helpful.

Why did you say something?! Lol

I was enjoying Chrissie using cash cow in place of his intended meaning of lifestyle company....... such a plonker!!!

Excellent work as always from Liam and Bamps, for any newbies looking in, the podcast episode is essential viewing that will help you gain an insight and visual understanding of the development, infrastructure and potential for further growth of Havieron :-)

I think the Valuation approach utilised by an independent assessor is going to play a large part in the decision for including potential across the mining lease as detailed in Section 8 in the early sub-sections of the code.
Risk evaluation/analyses are included too, so a compelling case for opportunities across the mining lease too perhaps.

Other useful document cross-referenced in the code to review perhaps:
https://download.asic.gov.au/media/5827832/rg111-published-22-october-2020.pdf
https://download.asic.gov.au/media/1240943/rg170-010411.pdf
https://asic.gov.au/regulatory-resources/takeovers/forward-looking-statements/mining-and-resources-forward-looking-statements/

It's a decision that is only going to be able to be correctly judged in how right or wrong Bill was in the future, it will be dependent on what happens moving forward in the next 12-24 months. It's too early to say yet IMO but personally it is a risk I would have taken given the potential for a discovery and also for demand.

Freddie Scrooge:-)

I think what Bamps is alluding to is 'control' as in the ability to make key strategical and financial decisions without requiring GGP's consent, I've asked for clarification directly from GGP via email.

But if this is the case, then would certainly make it easier for NCM to justify paying more for the 5% to their own shareholders. But still think, it is very hard to predict what an independent assessor might come up with as FMV, so both parties would probably prefer to keep control over the outcome by working together IMO ;-))

https://www.londonstockexchange.com/trade/trading-access/business-days :-))

Merry xMas everyone - remember if long term, focus on the value vs daily SP movements.

And on the note of 'value' - value your loved ones above all and have a great time during the next 4 days!

Who loves GGP?

Geologists - check
Academics - check
Industry bods - check
Journalists - check
Goldies - check
Copper heads - check
Shorters - maybe not so much!
Me - check
You - well do you?

#If You Know,You Know

Merry xMas all!

Thx Barnard :-))
And totally agree London - 2022 is going to really kickstart the major growth phase of Dev IMO
Merry xMas all!

Also here if not wanting to sign up
https://player.fm/series/the-traders-cafe-podcast-with-zak-mir/ep-215-traders-cafe-with-zak-mir-bill-brodie-good-ceo-alien-metals

@JB - growing up on the mean streets of Glasgow gets brought up a lot by you.......I can relate my friend.

I was raised as an orphan in the Jungle by a pack of wolves and an all singing and dancing bear with terrible halitosis, I'd killed a tiger before adolescence. Now THATS a tough life soft lad!

My Uncle Rudy wrote a book about it - I'll send you a copy for xMas :-))