RE: Townhall12 Dec 2025 14:33
Just wanted to add a few thoughts that haven't perhaps been covered from those who managed to feedback already :-)
*Stu from TG asked a question about Minyari's IRR being 80% vs GGP's 22-30ish range from base to spot:
- Firstly theirs was a scoping study and not a DFS and the inference was given that the focu was perhaps less than stringent. A point that I've felt is worth repeating is that a well put together study has sound findings that properly address risk and make assumptions that are realistic as a study that reads like a marketing brochure isn't one that gets taken seriously by the industry and analysts.
- And as we all know, he reminded everyone that the integrated mining outlook will improve the numbers from the standalone DFS focus.
*Improving and expanding investor confidence in GGP:
- Both in the webinar I've now been able to watch and during the evening the message is clear from both Rowan and Shaun that they feel that the market still needs the upcoming updates in H1 2026 to put any lingering doubts or questions about Telfer LOM and future production projections to bed fully.
- I have no doubt they'll be looking to release these to market with an appropriate focus on quality over haste, juniors need constant 'news' to excite their target audience - big £3bn behemoths such as GGP need to release periodic quality updates that will pass muster with an audience more crowded with cynical and knowledgable eyes, this is the audience they need to win over now while us retail rabble hold on as passengers.
*M&A such as through potential pick up of NSR by Barrick and a divestment picnic on offer such as with Newmont?
- There might well be assets worth buying if so they are keeping an eye open and interested but IMO he also inferred fairly unlikely (others may disagree)
*The ASX Listing that as we know not everyone in the retail community is still happy about (perhaps changing their minds after last couple fo days though?!)
- He pointed out that people need to appreciate the huge complexity and size of the deal....
- 98% of the GGP team themselves had never dealt with transctions of this size, it was just a few of them with the experience of such a daunting task
- A reminder that this was the largest equity raise since 2017 with half of the funds coming from Oz, so the need to list there was ESSENTIAL to capture their involvement
- so I read this as 'no ASX Listing meant no Deal', the same deal that has taken away all uncertainty about our future and now heading into 2026 showing real signs of delivering further shareholder value for us long suffering LTH :-))
I totally understand why there is so much PSTD floating around the community after the journey we've had but as that Oasis track goes - 'Don't look back in Anger'.... IMO it's time to let go of the past and embrace GGP Mark 2 as it embarks on it's 2nd year towards Greatness :-))
Link to webinar from yesterday:
https://www.youtube.com/watch?v=KW7Y89nkR
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