Member Info for jdt1990

Hydro can probably do the maths but SP/MktCap isn't quite double what it was 31st Aug (14.8p) and GDXJ AUM is down from $6.2 to $5.6Bn so probably wont be double but will be materially more

Sorry that should say COB today

Hi Chromeinvestor - The GDXJ will be using the SP as of COB for their calculations on new allocation to be announced 11th Dec for execution 18th Dec so I would think this isn't them buying......yet!

Probably a TR1 on that buy at the bell

With the AGM next Tuesday, are we expecting either the MRE or Scally results prior to that?
6 weeks from the last NCM Hav update would be evening of 9th Dec UK time. Would think its going to be then or the week after.
Scally could drop anytime I suppose....

Also Socialist - Whilst you cry out for a dilutive placing and spout the loan was terrible business at 8%. A placing would have come at much more than an 8% discount.
Whoever subscribed into the pacing to provide the funding, what would they bring to the table? Answer me that one?
Machinery / Industry Expertise / Processing plants / Connections in the mining world / economies of scale.....the list goes on of things GGP just could do themselves. We are great at finding targets but just cannot take them to production alone.
This is where NCM can absolutely force those kinds of terms. Maybe once we get these targets up and running with the 70/30 splits, we have enough cash in the bank to make a decision on whether we want to become a mining co. too and go it alone.
Right now this just isn't going to happen and I am much happier having NCM in on this with these terms than having to go to the professional glorified loan sharks for the cash...

You need to realise that the SP would be nowhere in the next 5-10 years without NCM on board to turn intrinsic gold in the ground to production and therefore revenue. Having NCM on board comes at a cost, they hold more of the power in these situations.
Its a simple business plan, we have a lot of assets and not enough money or expertise to go it alone. We are an exploration company not a miner.

Hollamatronic, lets get real here. GGP have more targets than they could ever bring to fruition alone. GH has clearly had to decide which ones he does want to retain 100% of and which he is willing to give up some of the upside for to get them generating revenue and quickly. To do that, you need a major miner on board.
25% of a producing target is better than 100% of a license that only has intrinsic value. There is no way NCM were going to give better terms than HAV....

944Turbo - I think Rubic and Hollamatronic are just here to ruffle a few feather and sow some seeds of doubt, which nobody is listening to!

What also needs to be considered is that there is a mini gold rush going on in WA. Lots of explorers have licenses and targets but very few entities can actually unlock the value potential there with as you say money, equipment and expertise. 50/50 was dreamland, NCM were never going to give us better terms than HAV, that was the precedent set. Hence why GH has kept Scallywag out of it and kept the solid relationship in play with hat I feel is a masterstroke. The reality is that for explorers the power is in NCM's (miners) hands, they could go fund someone else's project if we got silly asking for too much. We need to stay in bed with NCM which will require compromises. I have a feeling Scally is a monster and that is the missing piece of the puzzle

Just on your core pics comment. From Paddy this a.m. "Gervaise has just tweeted to say that GGP never release core pictures prior to results RNS - therefore these must be core pictures from Havieron and not Scallywag. Still they look amazing."

Fully agree JoeBass. I think this deal is GH saying (because he knows its good) "Sorry Biswas, you've been great to us, however, if you want a piece of Scally you're going to have to join the queue for a share and pay what others are willing to. I'll sweeten you up with a good value cut in the PRE and Black Hills areas though"

Why the loan? Think its time to go and do some homework SocialistB. It looks like you are one of these who write long posts to subtly hide your negative agenda.
Raising funds in the market through placing should be a last resort. It is a minefield and if you think placings happen at good rates, you are very much incorrect. The sharks out there would have wanted a discount for that $50m nd with that, they bring nothing to the table other than money.
A loan from a strategic partner, who you have worked with and trust has value. That value to GGP is derisking projects and getting them to a mineable stage and of course NCM want to be paid for that, they have shareholders to answer to also.
A loan can be repaid early. Dilution is very difficult to reverse!

Completely disagree SocialistB. We are an explorer and to get assets out of the ground needs a miner. That is NCM and they hold some bargaining power here whether you like it or not. The other option is to go into the shark tank and ask for financing from the market where we all know you get your pants pulled down. Not to mention, even with financing, you need to expertise and equipment. Who has that? Oh wait NCM and why not get all that from someone you know and trust. Yes it will cost you a share of the rewards but thats how explorers have to operate otherwise you just have a bunch of licenses sat dormant for years with only intrinsic value.
The key part here is Scally hasnt been offered up, why, because IMO it is a belter and giving NCM a bigger stake in other areas is the way to stop them sniffing around Scally!

I think the 5% at FMV from have will cover pretty much any outgoings we have for the foreseeable, jog on you muppet.

I agree WF and the key point in all this is that I believe GH knows Scally isn't a duster so has kept this as ammo in the arsenal. Give them 75% of the ones we wouldn't be able to progress without a partner and keep the big one for ourselves!

Rubic what planet are you on???

Ahhh that would make sense Coggs....glad someones on the ball!

The delay is highly irritating and now LC has used the word "debilitating" in relation to Covid he's hit a new low. However, his RNS last week set the stall out for the delay and the SP took the hit appropriately. This RNS cant be a shock to the market so its sitting where the bottom probably lies. There is still a lot more than £7m worth of assets in the ground is what I have to keep reminding myself of around my utter despair at the way LC runs this company with pure contempt for shareholders.
It was pretty clear the funding deal being signed was dependent on the updated resource and valuation reports. I am actually thinking with the POG where it is this could be better than the initial version. They have the results so just need to get the final reports over to the partners.
What I cannot get my head around is this bit:
"the Company has received expressions of interest for funding of an amount significantly more than the peak funding requirement (US$36.4 million) announced on 7 May 2020. The expressions of interest for funding, amongst others, includes a formal non-binding term sheet for funding, which if agreed and accepted by the Blyvoor Joint Venture, will be sufficient to fund up to 40% of the peak funding requirement referred to above."
Funding of more than the peak funding requirement which if required will be sufficient to fund up to 40% of the peak funding requirement....what on earth does that mean?

Just highlights the need for this to be done right, which takes time. Id rather suck up the "lost revenue" of a few months delays as opposed to having to try and claw back credibility from a sh*tty test that doesnt work.

Of course it does. There are some here thinking due to the statement below, that means the lively period is up to end Dec 2020:
"The Board anticipates a lively second half of the financial year and announcements will be made by the Company at the appropriate time."
Simply pointing out the financial year runs to end March so that is the timeframe people should be expecting news in, not only the next month.

For those saying news due any day, the VELA financial year runs 1Apr to 1Apr so that "lively period" is over the next 4 months....