focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
To be fair though JiffyBag, it at least means GGP should get a load of dosh for the 5%. In some cases the major just progresses to the next stage without such payment, by completing a spend milestone, as with Juri if I remember right.
I don’t feel we need to worry too much about this really - it’s either a mistake or, even if it’s NCM denying on p10 what they then go on on p11 to admit exists (as Bamps said earlier), the reality is that the new data DOES exist. If the 5% goes to arbitration all relevant data has to be considered, not just out of date superseded data so either way, the mistake in this presentation will have no effect.
@Paddy yes I saw that post about the bank funding and thought that made a lot of sense - ggp could then draw down whatever funding need remained after the 5% was settled. Bet Shaun has that sorted as he has proved to be a shrewd ceo so far imo.
There are no ‘issues holding the company back’, it is forging ahead on a number of fronts. As has been mentioned the 5% issue is certainly holding the sp back, and as I referred to yesterday they say this is drawing to a conclusion so some room for positivity there. Once it’s sorted, the debt funding should follow swiftly, and then it’s a clear road to production, so the sp should be a different picture imo.
Very happy with the RNS, it looks like alien have been working hard across disciplines to get Han**** moving forward incl Road, port access etc so v encouraging.
Not really much point comparing ufo to ggp though, v different beasts.
I attach an extract from an email reply I received this morning from GGP to an email I sent to them yesterday about shareholder engagement.
“Our Managing Director, Shaun Day has spoken previously of a transition period as the Company deals with the JVA mechanism around the 5% option and becoming fully funded. Once these are resolved, the uncertainty is removed and the company has the potential to flourish. These processes draw towards conclusion and the team has put a tremendous amount of effort into preparing thoroughly.”
Thought it was worth sharing for the “draw towards conclusion” bit especially.
I’m continuing to hold through this current market nonsense awaiting the far better times a few months hence, so this is reassuring to hear, ie we may be nearly through the 5% and the funding process.
There are a number of share price catalysts Shaun Day set out recently which will help the sp. The next, probably, alongside the 5% resolution, is being fully funded for capex requirements.
Who knows with the stock market, but given that in a year we will be close to production of gold and in two will be there and getting revenue from it, things should be v different and the sp a lot higher than this.
Yes, for a long time now the sp has been managed downwards by short selling and other tricks of the trade to enable background accumulation, imo but blindingly obvious if you look through the daily trades. It’ll be interesting to see how Ggp share ownership has changed when the new month end figures come out eg on Morningstar. Will Blackrocks % be approaching the 3% TR1 declaration level?
Zeros, also Shaun Day has already stated there are several top banks lined up to provide debt finance, and logically I imagine he is holding on to see how much the 5% provides, to determine what further funding he needs to draw down from the bank(s). He has also said GGP should be in the unusual position of being able to get such funding based on PFS ie it should be available before the DFS in the final quarter of 2022. So even if the 5% doesn’t cover the 50m plus 73m capex, debt funding will be there for that purpose. All in all, he is doing all he can to manage the risk around the 5% and capital requirement, imo.