Member Info for Droverman

Correct Summit, after a revamp of any plant either Refinery, chemical plant or mining plant there has to be a test run of the units involved and as you say make good which is normally up to a year. I presume GGP is in the position to demand the above as part of the purchase of Telfer. Havieron is not involved as GGP will know every part of that project and present situation. DM

Mark go to Bank of England website and they state that 2/3 of Liz Trust financial problem was theirs as they used derivatives on the bond markets for their pension fund as well as all pension funds and they were going to release the problem after Liz budget and then did not back the government. B of E screwed up big time and blamed Trust. DM

Only if we find the same under London due to be drilled very soon. DM

Hi Yellowstuff, me too with Equitable, still trying to get my compensation via EMAG, think they are waiting for us to die out. For Gordon Brown i think he sold it to the ECB and took euros for it, also maybe to the bullion banks who were short on gold. Anyway got my silver and gold stashed away as backup. Don't forget to sell some silver for gold when the ratio gets around 40:1 sale price. DM

Price for Telfer/Havieron must be resolved before Telfer goes back into operation. We need a revamped plant ready to go with a huge pile of minerals waiting to be processed which will be to our benefit as NEM have paid for it to be brought to surface. Seeing that the mine has been shutdown for about 6 months then there must be around 100,000 oz in that big pile to be recovered at low capex to GGP if we buy it. DM

Was 6 T2 assets for sale plus 2 none core which included Telfer/Havieron? DM

Hi all, for sure who ever buys Telfer there will be operational clauses in the contract just like handing over a new plant to a client. 1) See the plant run up to 100% for 3 days of each train and upstream/downstream plants. 2) Warranties on production/equipment for at least 3 months. 3) Warranties on the ponds for at least 3 years. This for me is the minimal requirements on purchasing Telfer and then the clauses on putting the area back to how it was after shutting down the plant. The above might be reduced depending on the price paid of course. IE 1 usd then all the above goes away for Newmont once the plant has started production. DM

Don't forget Newmont have still to produce the FS/mining plan and DTM at their cost for completion of the 70% share of Havieron, until that has been completed they are going nowhere. DM

Newmont want 2 billion dollars from 6 producing projects and 2 small efforts like Havieron/Telfer no way are they getting 1 billion for Telfer/Havieron, just divide 2 billion by 6 projects and see what they get on average. I think there is plenty of scope for Newmont to come to some arrangement with GGP over Havieron/Telfer. DM

Many guys at Telfer have said that there are many 1,000,000 oz pods of gold outside Telfer main ore body and it seems one of them is under the admin and maintenance blocks, solution is to install portacabins off site where they know there is no gold and dig it out, simple. DM

Forgot to mention Twiggy is worth plus 20 billion usd

FMG is Fortescue Mining Group started by Twiggy Forrester and largest shareholder. Twiggy owns Wyloo which in turn owns 8.5% of GGP plus warrants. Half of GGP BOD works or worked for FMG. DM

Hi Ben, for me 100% is the end result for GGP even if we have to pay 250 million USD for it. Think about it if Newcrest did not JV with GGP then where would we be, like SXX? got a mine but no way to dig it out so end result would have been zilch for GGP SH. Now we are in the fortunate position to get all of Havieron back for the amount we would have had to spend if we did get the funds but would have cost much more as we did not have the expertise to prepare the mine to production, get the permits, sort out the contracts and find a way to get through the aquifers, let alone finding the manpower to do the drilling and maintaining the camps and new road systems to Telfer. If we get Havieron for less than 300 million USD then its a bargain and done in less then 6 years to gold bars. Would have taken GGP more than 10 years to get where we are at this time. Fingers XXXXXXXXXXX to a good end game. DM

More like his standing with Standard Charted Bank me thinks, who better to negotiate between the bank and GGP for additional loans to buy 70% of Havieron and Telfer. DM

Loads CC1

DM

Telfer is on NEM books as a liability of around - 300 million Oz dollars i should think, if GGP take Telfer over for 1 dollar, then NEM gain 300 million Oz dollars and no liabilities from the book, this is around 10% of what NEM want from sales of all projects they have listed so far. Now its just a mater of what 70% of Havieron is worth and we have ROLR which is our ace in the poker hand plus the joker. I think Newcrest/Newmont have spent around 250 million usd so far, so with the POG in the ground at around 50 usd so about 200,000,000 usd we are looking at 450 million usd for Havieron at tops. I think 300,000,000 should do it so NEM gains 20% of the 3 billion usd they are looking for in handing over Telfer and selling Havieron to GGP. NEM want a clean break, no comebacks but willing to give advice. Would you walk away from this deal?

DM

For the doom Sayers out there i have only to paraphrase Clinton in that its the board of directors STUPID. Our BOD are not there to trash their reputations, they are there to enhance them and make loads of money on top of the millions they have already. DM

Sorry about that but had to be said. DM

See OMI are in an agreement with NEM and others to buy out their interest in a project where they get 100% for a consideration of 1.5% royalty payment x smelter, this is the way to go for Havieron and Telfer and NEM walk away free and easy. Just need a bond to cover Telfers land restitution when all is shutdown. DM

Hi Speedy, something else is going on me thinks, China only bought 1.5 billion dollars worth of gold the past 3 months, they are doing swaps with Belgium for 10s of billions of dollars at the moment. Total china dollar holdings are over 3 trillion dollars so really they are stuck in a strange position as they cant take on the mighty dollar without screwing their own economy. Will take many years to reduce there dollar holdings. At the moment Japan is buying the dollars that China is selling via Belgium, EURO/Dollar exchange i presume. For the West is only a revaluation of gold, a bit difficult for USA as they would have to sell their holdings and buy back to prevent hyper inflation of revaluing gold from 45 usd/oz to 2350 usd/oz. Just some thoughts. DM