Member Info for Dip666

Thanks to Peter G on TG for sharing some details of the new regs that Shaun is considering against listing on ASX.

https://www.twobirds.com/en/insights/2024/uk/fca-publishes-detailed-proposals-on-the-new-listing-rules-regime#:~:text=Single%20listing%20category%20for%20commercial,new%20ESCC%20category

I've had a reply back to the follow-up email asking about the Juri JVA and Newmont's other interest in the Paterson:

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email sent:

Thank you Marianna and Daniel for replying so promptly, it is very much appreciated.

I also note the JURI JVA with Greatland mentioned in the Newcrest ASX market release includes tenements held within the Paterson region.

I now recall that Newcrest agreed a farm-in agreement with Antipa Minerals for the Wilki Project also within the region. Are these projects are also being considered for exit given that divestment of Telfer and Havieron is in progress?

Kind Regards,

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reply:

Hello Dip –

While we cannot speak to the specifics of the sales process, we can confirm that our teams are considering all aspects of the Telfer and Havieron tenements and agreements in place.

Thanks,

Mari

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Some of these big trades are Sint trades and nothing sinister apparently, someone in the TG group has an old colleague with a good understanding of these and is gaining more information.

This PDF is a bit technical but may assist somewhat...

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.icmagroup.org/assets/documents/Regulatory/MiFID-Review/MIFIDII-the-SystematicInternaliserRegime-060417.pdf&ved=2ahUKEwiu862yq-CEAxX-U0EAHdT8CMwQFnoECB4QAQ&usg=AOvVaw2_JilhIPZqKsIEzTrGFr9k

Thx all, plenty of folk here who contribute to this board and TG, so I never need any thanks and was lovely to meet more new faces such as yourself Hiphop and quieter readers of the boards and TG channels again at my 3rd TH. I wasn't annoyed by LM saying it was a fob off reply as always happy to explain my opinions or anything I post as long as someone isn't being rude :-)

@LM - I covered a response to you already in what value less specific replies to market sensitive queries can have. Investing is all about making assumptions of future outcomes and how they may affect SP, so IMO it all helps build a picture. I'm not in the habit of wasting mine or other folks time with BS, I know from experience this type of effort can lead to insights or clarify something in a poorly constructed market release so can be very useful.

You are welcome to your own opinions but you appear to be an individual who is often clouded in their thoughts. Let me explain this to you... in all of that moaning and groaning which frankly won't serve your financial future any good - not once have you ever admitted you could have used a better investing strategy here? It's all about fate or MD's/CEO's losing you money?

This is the reality of active investing on AIM in developing companies, volatile and risky and any long term hold can go against you. We've learnt that the Orphan Period doesn't get kinder to Brownfield projects, macro/sector sentiment is critical... but we might yet again soon see the better side of the coin again there - and lo and behold major discoveries aren't easy as seen on our other exploration activity .

Pre Production positioning is a potential key strategy too and perhaps in hindsight for newer investors who jumped in post funding better made closer to production, I also shared in insights from Lobo Tiggre's PPSS report if you recall? So many lessons learnt here that we can apply in future here and elsewhere - you have to look at yourself too vs blaming investments for going against you. The smart play was exiting post Maiden MRE here in hindsight, it is as simple as that to me.

LSE Town Hall Webinar from 5th March

https://youtu.be/5LdcK2GgZEA?si=rcZrbXPF6RTnSbVP

I agree it doesn't specifically state they will LM, just that they intend to honour the JVA terms which are non public besides the what I term as general framework shared in market releases or otherwise by either party

We will find out if the small print defines activity and expenditure will continue and if Shaun's opinions on their seeing this as minimal spend and general good partnership focus plays out. Said as much last night in my post and we know in loose terms that hitting ore body is expected inH2.

Easy enough to press for answers though, more useful than arguing online. Fire off a few emails or go and visit CEO at a town hall, leads to insights more so than specifics for matters that are market sensitive usually if course, but I would argue still useful in gauging your investments.

Thanks Freddo, I'm pretty sure her teams been warned they might get a lot of 'concerned' Newmont shareholders who seem oddly focused on certain projects linked to GGP :-)

And just to finish - reply was from Marianna (Mari) Rose who is the Investor relations Director based in Denver.

I've replied asking about their intentions for the Juri JV and with Antipa given the sale of 2 key assets in the regions, will share if I get a response :-)

The email was sent onto the IR director by Daniel and the response from her is attached:

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Hello Dip –

Thank you for reaching out. Please see below for responses to your questions, and let us know if we can assist further.

1/ With regard to the sales process for Telfer and Havieron, our team is considering all options with the aim of maximizing value for Newmont shareholders. At this time, we are unable to comment on whether the assets will be packaged together or sold independently as the process is ongoing.

2/ The joint venture agreement is well understood by all parties, and we will continue to adhere to the agreement in place. At this time, we cannot speak to the detailed terms of the agreement, but would point you toward the press release in 2020, which detailed the key terms: https://www.newcrest.com/sites/default/files/2020-11/201130_Newcrest%20signs%20Havieron%20Joint%20Venture%20Agreement%20-%20Market%20Release.pdf.

3/ Study work continues to progress for Havieron, but we have not disclosed any dates for the decline at this time.

________________________________________________

Shaun as I posted yesterday seemed confident that due to the minimal spend this represents to a multi-billion dollar firm and their usual practices and his experience fo such that he expects they will continue decline after LCA depressuried enough. Certainly it appears if the JVA includes this kind of direction then they will do so, no doubt we'll find out in due course :-)

Shaun also called Havieron a 'dry mine' compared to many underground mines and in time it will require water from Telfer.

I just noticed that I've had a reply back from Newmont IR last night in regards to asking a few questions about the sale of the 2 assets, JVA and decline progress. Nothing too specific but seems they intend to adhere to whatever is in JVA.

My email as attached:

Dear Daniel,

I noted from latest earnings calls and interviews by the CEO that the company intends to divest Telfer and Havieron (Havieron development project being 30% owned by JV partner Greatland Gold).

My understanding is that Greatland and Newmont (formerly Newcrest) hold a Joint Venture operation and the intention is/was to process ore at Telfer and I understand that the JV partner Greatland hold a Right of Last Refusal (ROLR) on Havieron.

I understand that Telfer mine life is currently only scheduled into early FY 2025 and from reviewing Havieron progress that the decline has been paused whilst the Lower Contained Aquifer (LCA) is being depressurised.

Based on this I have a number of questions where you are able to answer:

- Are the two assets going to be able to sold independently or are they being packaged together as per the Grant Samuel valuation in the Scheme Booklet published last year, given that the current understanding is that Telfer’s mine life is likely coming to a very near-term end, so surely dependent on future Havieron ore to assist in retaining any realistic commercial value to a potential buyer considering the current margins?

- And if Greatland hold a ROLR on Havieron, surely this complicates matters for other bidders if looking to secure both assets for the above reason of ensuring commercial viability of Telfer outside any existing potential there may be in investing in other cutbacks etc.?

- Additionally, as it appears that the Havieron decline is currently in statis with the LCA being dealt with, is work still ongoing with the DFS and will work be restarted on the decline and perhaps in time the SLOS mine once the LCA has been dewatered to a sufficient level to enable work to commence.

Personally, I deem both these activities important to ensure optimal commercial value is achieved for both assets, hence my interest as dependent on progress on sales, it may take many months to negotiate and close sales of both assets.

Look forward to hearing from you.

***Reply follows in next post***

Hi, was there tonight and he seems clear that any deal would be accretive and potentially via expanding bank syndicate but if course I personally would expect some level of equity required by banks.

His opinion is that Newmont would continue developing Hav as a minimal amount of money for a multi billion corporation and adds value, much like Newmont IR have confirmed to someone on TG the DFS will continue.

What he feels I thought is that GGP has the money, the knowledge of assets to enable quick due diligence and a good relationship and Newmont like to work that way too in his experience of them so confident of doing the deal.

Definitely thinking a while till a deal though after tonight as he initiated as much in that no formal talks or process defined by Newmont yet and feels they may focus on North American assets first, so a few months IMO

We still need clarification that Newmont will continue development spending as he just gave an opinion, hasn't been discussed it seemed to me yet, much like Newmont not having yet initiated a process for selling these 2 assets.

To be expected Ace, need to see how this plays out and actions taken by Greatland.

Decided to go anyway as had cleared afternoon and can now submit expenses to Ben to reclaim all costs 😃

I sincerely hope we are Ben!

And if an RNS of unimaginable happenings is not delivered by the end of tomorrow???

Then Ben Obi-Wan Kenobi will personally recompense all travel and subsistence costs of those having travelled to London because that is how damn sure he is!!! 😁🤞😃

Hi Z, Similar mindset and expectations but Newmont IR have confirmed the DFS will continue, I have emailed a long list for questions myself to their IR contact to establish certain things such as if they intend to continue development once LCA depressurised enough etc..

Never any harm in being cheeky as they say and asking 😃

Many of the them were saying the same about $2000 until it didn't set off a rerate... so they moved the goalposts just as Cryptobugs do :-)

Eventually they'll be right but anyone can do that by moving goalposts continually, top-down is the general understanding so we'll see if sustained and affects the likes of NEM and hope it filters down sharpish :-)

Notes from Sunday Roast Podcast – 03 March 2024

https://www.ggpchat.co.uk/viewtopic.php?t=891

We're just going to have to either wait for an RNS or any shareholder can choose to slice or exit if they fear the unknown will not favour PI's.... same choice as always in this kind of scenario.

In Jan 2020 I invested into what I imagined was a likely divestment of great potential and then it became clear with Shaun coming on board a rather more ambitious but still in theory nice easy piggy back ride on the shoulder of a major, owning 25-30% of a large future Tier 1 Gold/Copper mine into quick FCF to easily build a company from and we even managed to get funded pre-DFS in principle.

It has now got more complicated than initially envisaged, but if done correctly another way of achieving the same goal. It could be done accretively despite our current market cap if the price is right for us PI's too IMO - but we all had different entry points and investment horizons differ too, I was originally thinking an exit post maiden MRE :-)

Any RNS detailing a funding structure to buy both assets or some other scenario inc. no doubt Wyloo Metals and the existing bank syndicate comprising of Australia and New Zealand Banking Group, HSBC and ING as a strong central anchor will allow us to assess how this will play out - I imagine there may be outcomes that suit some and not others too.

It is very hard to read between the lines when we have so little specific information or insight into things, you'd expect more clarity as time progresses and events unfold.

55m 20 secs for Shaun:

https://audioboom.com/posts/8467454-sunday-roast-featuring-rupert-verco-ceo-of-cobra-resources-and-shaun-day-md-of-greatland-gold

This is the latest episode

https://audioboom.com/posts/8467454-sunday-roast-featuring-rupert-verco-ceo-of-cobra-resources-and-shaun-day-md-of-greatland-gold