RE: SP is up 9.42%18 Mar 2025 13:04
(1).." as the revamped management team wrap their heads around the building blocks needed to nail down costs, identify final partners, understand the financing needs and then go to market to raise the (probably syndicated loan) finances needed to get the project moving properly ..", they'll have Phil Mitchell providing oversight, guidance etc.
That would be the guy who at Rio Tinto .." played a pivotal role in transforming its iron ore division into the company's flagship business unit, with over 300 million tonnes of iron ore production. He later served as Rio Tinto's Head of Business Development, overseeing strategy, M&A, and strategic business change..."
He's representing Greymont's interests.
I think it's reasonable (for most people) to assume that -with a 54% eventual shareholding and a long-list of 'motivated' shareholders - Greymont will be considerably more activist - and technically/materially supportive - than GLEN (which in any case, as you surely know, doesn't 'do' brownfield).
I don't think you give enough credit to the 'step change' that has just taken place.
(2) As to the eventual s/p,(hat tip : Jiving), Shard's research note - ready for release 3 March, the same day as the placement RNS - postulated a potential valuation at the higher end of that range. It's common practice for analysts to check in with the company covered that there's nothing grossly incorrect in their evaluation, all the more so in cases where the analysis comes from a house broker.
Whether 'regular' PI's get to see the eventual payout is a moot point.
'Moot' meaning that it's 'open to debate'.
Let's see what we learn later today and the immediate aftermath.
FWLIW, I've sent my Q's to AT, asking that the points raised be addressed - even if not asked - either at the meeting or in a subsequent (eg Proactive or press) interview.
GLA
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