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Well that’s an easy one. Because they had no idea how much gold there was at Havieron. And they don’t take risks.

MY point was that we need some competition in future JV deals. And we are now in a much better financial situation than before. Do we know if GGP negotiated with anybody else for the Hav deal ?

Not saying it wasn't a good deal all round. It's just turned out to be a steal because there's far more there than envisaged.

I hope GGP is negotiating with other miners ! Not just Newcrest. They got a steal on Havieron.

Just for Havieron ? And that’s on the low side. It keeps getting bigger and bigger.

Dip. Yes that's the most logical way forward. They would be crazy to mount a bid for the whole lot.

Great to get bit of competition in for a JV on Scallywag !

reminds me of Solg going crazy in one day. From about 5p to 80p , was it ?

I hope GH can resist a bid for GGP unless it is huge. Much happier selling the 30% Hav and then drilling the others.

I don't think Newcrest will bid for GGP, or if they did there could be a bidding war. More likely they will buyout Havieron. Then GGP can mine all their other prospects., which could prove to be more valuable then their share of Havieron

Agree. I’ve said this so many times.

Can't see a bid for GGP as no one knows what is there. But I can easily see NC trying to pick up all of Havieron. But only with the benefit of an MRE.

I just can't see a large public company taking a punt ! They need solid evidence in the form of an independent MRE before they could make an offer for Havieron. And if they look to bid for GRP they open up the whole business world to compete.

Big difference here. It's Newcrest who are exploring and issuing drill results , a large well respected Australian public company. They are not going to put out extravagant claims.

sorry Red but you have divided wrongly. $0.21398 divided by 1.24 = £ 0.1726. 17 p. Didn't check the rest.

No way would Newcrest want anyone else having a deal with GGP for Scallywag.

I'm with you OT. And there's no way NC will bid for all of GGP. It's way too speculative. A bid for the 30% when they produce an MRE which their shareholders would insist on and maybe a JV for Scally at the same time is the way I can see this going. How much depends on the MRE, but let's say between 15 -25p. And don't forget the value of the copper.

Don't think that could happen without any one realising there's a big buyer. 5% is about 180m shares. SP would rocket IMO.

I think 50% is too much. And of course GGP won’t have to JV Scally at all if they don’t get the right deal.

Glad you understand all this Paddy...cos I sure don't. Thanks mate.