Member Info for GGPThruandtru

Could this JV discussion be the reason for the delay in releasing Scally results?

This reeks to me of us having hit something at Scally and wanting to take that to mine ourselves. We're too small to explore and mine all of our Paterson projects, so we keep Scally for ourselves and partner up for the rest. The fact that we've done this JV before even drilling Goliath makes me think we've had good results from Scally. Release the Kraken...

T&T

This is true, if Newcrest walked we'd be flying over £1 pretty quickly :-))))))

“Let me catch my breath” GH

Haha, well you’re no fun... :-(

More decent news from the Antipa/Rio JV. Grades seem to be getting better the deeper they get too, just like GGP.

https://hotcopper.com.au/threads/ann-more-significant-high-grade-au-cu-intersections-at-calibre.5776649/

Wouldn’t it just be great if the whole Paterson area was one huge gold ore body...;-)

Thanks for that bit of info Learner. The important part i guess, is what NCM know then. Based on Havieron alone though of say 20moz that would get them an extra 600koz of gold for their 10% which gains a profit say of 1000 an ounce would mean an extra 600m profit in their pockets. They could get 10% of us now for less than that. Seems a no brainer to me. Couldn't they just accumulate them on the market over time? You don't have to declare your percentage until you've finished buying. They could just keep buying until we get the 10% notice?

Are Newcrest allowed to buy a stake in us? Wouldn't it somehow affect the JV terms? Say they bought 10% like they have in Antipa. That would mean they would also get 10% of our remaining 25% of Havieron, so an extra 2.5%...that seems a bit too dodgy/weird to me to be allowed. Or at least it would require some sort of contract in relation to Havieron.

T&T

A ok, so the Martu people get their cut as usual. That sounds plausible. Fair enough. Shame haha.

Ok, seeing as the board has quietened down, here's one for you. Haven't read anything on here about this and I have no idea why it came to me in the shower. Bear with me through this. I have Antipa also, and Rio Tinto are paying for Antipa's latest drills and results which have been coming out recently. Rio also have Winu (Maiden MRE of 4.4moz) next door and are also still drilling new targets in their tenement and also in the Antipa JV tenement.

They will need to build a processing plant/mine for all these minerals they are finding and Winu is the obvious site. However, what if they start finding additional areas elsewhere and decide to build the mine say in the middle of all these ore bodies. What if that "middle" is on Antipa ground? Who owns the mine? Will they pay Antipa say "rent" for using their land??

And then my mind went to my first love, GGP. If Newcrest decide to build some sort of processing plant on "our" land as it suits the ore body or because it's SO big Telfer isn't able to process it all; would we get paid rent, so to speak? if we came up with say our 25% of the mine capex, we would rightfully own 25% of that mine, that's fine. My mind then went a bit wild and I thought, well, we could pay our 25% of the mine or we could let them "use" our land for free to build their mine as long as they process our percentage of the gold for free!!! Other scenarios flew into my mind too, but let's leave it at that.

So, if Newcrest or Rio Tinto decide to build a mine on JV ground are the above options viable? This could be completely wrong but thought I'd throw it out there for anybody knowledgeable in this weird scenario. Who would own the mine? Could it mean even GGP or AZY could even get partial tolling fees from other companies wishing to use the processing plants?

I thought this was a flashbulb moment myself and a very interesting scenario. Could be wrong hahaha.

Thoughts folks?

T&T

Everyone who is voting on their trading accounts need to vote yes. We’ve had this clause in for years and it has never been an issue. The last think we need is for this to be disputed and delay our progress.

I’m with Stumpy and a few others in here. Tried to explain it at the weekend too. No one gives our shares at nominal value. It’s sheer and utter stupidity. They will not give 750m shares at 0.001p! I can’t even understand how this is even in people’s minds. Have a look at other companies AGM with this clause in also. They are all the same, it’s merely a generic wording of the clauses.

or at least until next year anyway :-) Then hopefully it's to pay for the capex for the new Goliath Mine ;-)

Nicely done Sandgrounded. (thumbs up emoji) Let's hope this puts the crazy nominal 750m shares thing to bed now. I'm happy with that from last year, even surprised they haven't increased it considering our Mcap has gone up so much. Gives another inclination maybe as to them not even thinking about capital raises down the line.

Not sure about an apology guys, I am merely in a discussion. I might be getting the wrong idea about this section 4 as it seems there are a lot of people disagreeing with me. The below is from Eurasia Notice:

"That, in accordance with section 551 of the Companies Act 2006, the Directors be generally and unconditionally authorised to allot shares in the Company or grant rights to subscribe for or to convert any security into shares in the Company ("Rights") up to an aggregate nominal amount of GBP250,000 provided that this authority shall, unless renewed, varied or revoked by the Company, expire at the end of the next Annual General Meeting of the Company to be held after the date on which this resolution is passed, save that the Company may, before expiry, make an offer or agreement which would or might require shares to be allotted, or Rights to be granted and the Directors may allot shares or grant Rights in pursuance of such offer or agreement notwithstanding that the authority conferred by this resolution has expired. This authority is in substitution for all previous authorities conferred on the Directors in accordance with section 551 of the 2006 Act."

And there are many others exactly the same. I think this is basic wording to wanting to cash raise in the future, no? They can do a cash raise up to £750,000 - Eurasia above £250.,000. But no company ever does a cash raise at the nominal value. It is always around the current share price. I apologies to everyone f I've got this completely wrong, but it just looks a clear cut case of a basic AGM notice. No fuss, no hassle.

T&T

Yes, I agree the nominal value is that, but it is just contract terminology and is included in every companies AGM notices when talking about exercising shares. It doesn't mean they will value the options at that. They will be valued at the time accordingly.

Nothing there that says it can't be for a premium and not a discount. I think you misunderstood me Daveri, I was just saying the 750m shares is non existent. This number has no relevance. Its £750,000 worth at whatever price. The amount of shares will vary depending on this price, but it's not 750m shares. They often take like the 30 day average if its an organised buy. At 22p it works out at approx 4m shares.

Nowhere does it say anything about 0.01p per share. It merely states £750,000. If you're picking up on the word "nominal", i think in this case it's simply a word relating to the amount and it does not mean they'll be giving away shares at 0.01p or whatever amount that is. They are allowed to give up to £750K's worth of shares they want at any price. For more they have to ask permission again I think. They are not stupid enough to give these shares out at silly cheap amounts.

Daveri, £750,000 (pounds) It reads to me as pounds worth guys, not shares. Works out at around 4m shares give or take at 22p. That's seems even on the lower end to me for an almost £1bn mcap company.

I don’t think they counted Havieron as a tier 1 for their 2020 work. If you was the report, at some stage past the synopsis of further projects in names the 5 tier 1 areas. Havieron is not included. That’s probably down to them not being able to call it that yet due to more drilling needed. No doubt to will be added to their list in 2021.

T&T

Giys, we’ve been through this before. Drilling is like a TR1, if you’re still drilling as area or buying/selling shares no obligation to release the info until you’re finished. In Gh/CB we trust...