Member Info for Dip666

Newmont First Quarter 2024 Earnings Conference Call link:

https://www.newmont.com/investors/news-release/news-details/2024/Newmont-Announces-First-Quarter-2024-Earnings-Conference-Call/default.aspx

Rome Resources Provides Update on Proposed Acquisition of Rome by Pathfinder Minerals Plc and Board Change:

https://money.tmx.com/en/quote/RMR/news/6802298810385507

Vancouver, British Columbia--(Newsfile Corp. - April 11, 2024) - Rome Resources Ltd. (TSXV: RMR) (FSE: 33R) ("Rome" or the "Company") announces that, further to the Company's news release of November 29, 2023 in which it announced entering into a non-binding heads of terms providing for the potential acquisition of the issued and outstanding securities of Rome by Pathfinder Minerals Plc ("Pathfinder"), a UK company quoted on AIM, which would constitute a reverse takeover of Rome by Pathfinder under the AIM Rules for Companies and a reorganization under Part 8 of Policy 5.3 of the TSX Venture Exchange (the "Proposed Acquisition"), due diligence by both Rome and Pathfinder and their respective advisors with respect to the Proposed Acquisition is ongoing, and Rome is pleased with the progress made to date.

Rome also announces that Mr David Jenkins has resigned as a director of the Company, for personal reasons. The Board thanks Mr Jenkins for his contributions during the period he served as a director.

Page 231 for revision history

As shared by Liam on TG, link to download below:

https://geodocs.dmirs.wa.gov.au/Web/documentlist/9/EARS_regi_id/121684

@CP - guessing is speculating is investing... It makes sense to wait for an ASX listing now - we'd need a waiver of the 20 cents threshold or consolidation at this SP level - make it part of the funding process if deemed appropriate once things play out and hopefully then benefit, and a DFS wouldn't hurt as you say in providing some fuel for a positive catalyst when listing.

@Culpepper - ROLR is a very handy advantage for obvious reasons to dissuade other bidders as ultimately they've got to come in at a level GGP/Wyloo won't feel it is commercially viable to match for NEM's stake in Havieron, plus all the other legal/fiscal/resources and efforts involved in bidding for anything.

Does it mean that we should completely rule out competing bids?... of course not, but it does give GGP a very heavy advantage and complicates matters for other bidders.

As for the structure of any deal or funding.... far far too many different options for me to have any degree of confidence in making assumptions or taking anyone else's onboard at this early juncture. How accretive a deal is will also vary in everyones perspective based on their averages and desired timeframes, I suspect no matter how good a deal Shaun structures, there will be some (a minority hopefully) that won't be happy - that is unavoidable at the current SP levels.

Hi Mark, yep I don't think the FMV outcome (easily can argue that was not true FMV) or the value that Shaun offered to NCM will play overmuch into anything in the negotiation.

The reality is NEM want shot of both assets to help meet their own divestment targets and GGP want both and hold the ROLR card on Havieron to complicate matters for other bidders who you'd assume probably favour buying both assets vs just Telfer. Can't take the mickey either though out of NEM as I suspect they coudl hold onto both assets if needed and still easily meet the divestment targets.

Assuming negotiations will be good natured and straightforward unless 3rd parties with big pockets do fancy the risk of playing their hand despite the ROLR.

Hi mark, a valuation range as such doesn't have to be both parties agreeing to have a Valmin compliant valuation drawn up formally, but perhaps more an understanding of this is what GGP think the asset/s are worth and this is what NEM think they are worth.

However, each party does need to be to able to justify their desired price tag using reasoning based to some part on the factors I listed as how else do you negotiate these kind of assets but talk about these and how they influence the price tag and discuss MRE's, feasibility studies, asset prices etc.

You can't fully discount the Grant Samuels report either considering it was very recent, albeit it suits us now as a prospective buyer that it was using outdated information as that favoured a deal being oiled between NCM/NEM I suppose :-)

Culpepper, easy enough to see why he offered that as was to show that FMV valuation was restricted by terms of option exercise.

Also as you seem to agree, since then there has been much more drill data in raw form and analysed into MRE updates and there is also a draft DFS both parties are aware of alongside a recent Grant Samuel valuation including of course since then... differing asset prices to calculate a new longer term forecast, inflation and a host of other factors - all to be considered.

The PFS is very outdated now and both parties have full access to all of the above in relation to assessing a up to date valuation range and while higher trending asset prices might add to a price tag, they also make a project more financially feasible in production - swings and roundabouts as they say.

Brief coverage of GGP at 52min 11secs in on The Sunday Roast Podcast

https://youtu.be/ubwnPmypK-Q?t=3011

Freddie - Perhaps read up on types of aquifers, how they are formed and timeframes they might be recharged can be up to thousands of years for some. Shaun referred to Havieron as a 'dry mine'at the TH presentation as I said so I don't think the aquifers will be too problematic albeit perhaps as Bamps has theorised on teh forum has affected how they go about mining the different zonations.

So are you saying now that it's not a confined aquifer Freddie and both GGP and Newmont are misrepresenting things?

You'd hope they've established what kind of aquifer they are dealing with now they are at the aquifer and pumping it and no doubt been able to conduct more detailed testing.

Aquifer management is part and parcel of mining as is water management and ongoing water usage which will be required, in time Shaun explained at the last TH that due to Havieron being considered a 'dry mine' they'll eventually need water from Telfer.

We've been given indications in interviews it's expected to take up to around H2 20204 Freddie as I've copied excerpts from interviews before, until Newmont want to share a more specific updates this is as much as Shaun is able to say publicly for now.

Also Callum is no longer a director at GGP, just a major shareholder now, so he might have given some geo background on contained aquifers, but not sure what else he could have shared in more specific terms of a schedule for the decline to be completed with any authority.

@Freddie - do you think GGP will be able to obtain funding for 100% of Havieron if there is a serious issue with the decline from any existing or prospective banks or raise equity from likes of Wyloo? This is obviously a delay to what was the original production ETA back around the PFS way back in time now and the reason being given is dealing with more water at surface from the LCA than originally modelled.

RNS's have been published about the LCA and Shaun has gone on public record about it too - so a dangerous game to be going about lying - especially when it is being advertised for sale. Maybe there is more to it to suit a deal being hammered out - but fundamentally I imagine that the need for pumping more water out to work safely must be a feasible argument technically to ensure butts covered for both JV partners.

Hopefully we should know within a few months that a deal is struck and what implications will be if concluded for shareholders i.e how accretive or dilutive - we've not got much choice but to wait. As Charles Archer has also shared in latest Sunday Podcast it's known that representatives of the current banking syndicate and some GGP personnel were visiting the site in December '23, so perhaps a deal was already being discussed so hopefully not much longer to wait.

Plenty have reached out to both GGP and NEM to get more detail about various topics but essentially we'll have to wait and see. All we know is NEM confirmed the DFS continues during sale process and NEM have committed to follow all agreed JVA terms and conditions, albeit we're not privy to the small print this might mean continuing with development of decline as they seem to be with DFS.

That was Capstone fully funding to PEA for 75% or PFS for 80% and then options to proceed on pro rata basis or as below:

https://www.lse.co.uk/rns/UFO/earn-in-agreement-on-donovan-2-copper-gold-project-0pyvhb1cff2o9g9.html

Highlights:

- Capstone can earn an initial 65% interest in Donovan 2 through a combination of cash payments and committed expenditure, consisting of:

o US$290,000 in cash payments to Alien over three years; and

o US$3,600,000 in valid exploration expenditure over three years (including US$150,000 being incurred by 31 December 2020)

- Capstone can increase their interest from 65% to 75% by making a further cash payment of US$200,000 and funding the costs associated with a Preliminary Economic Assessment (PEA)

- Following delivery of the PEA, in the event Alien elects not to contribute pro-rata to its 25% interest, Capstone Mining has the ability to sole-fund the costs of a Prefeasibility Study (PFS) to earn an additional 5% in Donovan 2 (bringing their holding to 80% and Alien 20%)

- Thereafter, each party will fund their pro-rata interest in the Project or dilute according to industry standard mechanisms. In the event Alien dilutes to below 5%, it's interest will convert to a 2% Royalty

- The Transaction with Capstone delivers the potential for immediate advancement of the Donovan 2 Copper-Gold project while allowing Alien to focus exploration activities across its project portfolio

could be that the mining lease needs to be granted before a jv partner commits but could also be that the existing proposals aren't that generous and the retained ownership split wouldn't be great. perhaps they plan to prove up more resource at han**** to try and get a better jv proposal from interested parties?

also, need to remember that a jv will still mean whatever percentage is retained s still imposes a need to fund the proportional amount of development costs etc. and not sure ufo could manage that across multiple projects right now. they perhaps need to take their nearest term opportunity in hanc*ck into production first and build up to trying to do too much at this current juncture.

@Monty - Costa doesn't use LSE or involved in the GGP TG groups or GGPChat forum now, barking up the wrong tree if you think he is still posting as JD or under any other pseudonym mate.

Speaking from personal experience, he's a really decent guy whom I have a lot of respect for and consider him a friend, he did a great deal of work in the background working out the shorting and plenty of other areas and a shame he doesn't get involved any more.

You'll see a lot more step back fully form posting once in production or whatever else concludes here - these spaces are far too toxic and many turn around and attack and blame prominent posters who had no ulterior motives but believed in their investment and shared opinions and research. Most of the information folk share is public, just takes time to gather or obtain...

Think he's taking the mickey out of max ;-)

@FG, the majority of my initial post was based on the Mickey Mouse antics at UFO and I've just agreed CJ's post makes more sense with his response. Not interested in extending this conversation, my parents were from India so perhaps I have a different insight and perception to yours but certainly not unconcious - important to remember India itself has plenty of turmoil with minorities living there - it's a universal discussion as such.

I have a practical approach to life where you can't change the past and every country and culture has committed atrocities and more important to move forward in integrated societies. Empires rise and empires fall and the pendulum swings east to west and back over time. Plenty of mixed marriages and children in my family if you're thinking of turning this into some race based convo as Tacet kicked off.

Myself and CJ have understood each other better so let's get back to Mickey Mouse, sorry, UFO lol

Like I said FG - can't change history and we can keep going back in time in your example - maybe I could have tagged 'in recent history'.

For obvious reasons, mining needs to have some level of regulation across a host of factors for many reasons from cultural to environmental for good reasons - hitting the right balance is always tough and as you say CJ, perhaps the referendum will restore balance and be more fair to all concerned, your initial post makes more sense now.