Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
If you are concerned about the wording of the JV you should definitely pose the question to Shaun, and also add in is there any way that NC/NM can frustrate the current building process/speed.
I would expect that GGP will have thought through every possible scenario and have a plan for it.
Sand, change of control with right of first/last refusal only works at the asset level. Change of control of the parent just means that the newco inherits the jv.
As for the catchme question. Nil.
First rule of investing, trust the management.
I broke that rule when I invested as I have never trusted NM and I have had 20-30mins talking to him one on one.
But I am glad to say that Scott is a breath of fresh air. Not sure I could say that I trust him yet, but I can definitely say that I dont not trust him.
Pernickety. Cant argue with any of that.
Its the strangest bid defence from NC that I have ever seen. They say they dont want to be taken over at 0.38 but do virtually nothing to suggest they have any other plan. If NM lob in a bit of cash to sweeten the deal, I think NC are gone. Then its just a question of whether NM want Greater Telfer or not.
NS, No it wont be. June quarter unless delayed by the takeover bid.
He has to visit regularly to see the institutions who are invested and who might invest. Cant do more than 4 a day in my experience. Also he was in Miami last week watching Sherry bore the pants off the world.
He will always tag a TH meeting on to his visits as London is his core shareholder base. IMO!
Good evening Colonel. Actually I do think NM want copper if I have heard their ceo correctly. But there is just so much that they will need to do Alpala will come at a bad time. Two years time it might be different but I don’t think anyone wants to wait that long.
With regards to havieron, don’t worry, it’s all in hand.
If NM get NC, and I think it’s odds on that they will, i think they will have their hands full with the further developed assets in the joint portfolio. So my guess is that it will be sold to the first person who offers a mkt price.
TT are you coming to the TH on Thursday? Would love to meet up.
Emc2. Dilution isn’t the issue of more shares.
It’s the issue of more shares without a corresponding increase in the value of the assets. You can also have eps dilution and accretion.
Today if we bought a company that made one penny a year for 500 billion shares, it’s eps accretive as we don’t have any earnings atm. (I realise a silly example, but sometimes it helps explain things).
In the potential situation of an acquisition of Telfer/havieron I would expect any deal to be (obviously) eps accretive, but also nav accretive too, despite the issue of a lot more shares.
I think that’s my last on the subject which I am sure will please quite a few.
See you at the TH on Thursday.
EMC2, your 9.12 post. Without looking through all of those corporate events, I would guess that every one was dilutive, as I dont think any of them came with a rise in the value of the assets in the company.
It further strengthens my view that there arent many on this board who understand accretion and dilution from an asset and liability point of view. Fortunately Shaun does.
Just opened an account in IG. Dead easy. Now to get HL to transfer the shares in specie!!
It’s not dilutive if the asset increase is greater than the shares in issue increase. It’s accretive. The asset per share will go up.
You think a deal would be dilutive. Why would Shaun propose that? Why would you be a shareholder if you thought that?
The reason I talk to you as if you have no understanding is because you say things that lead me to that conclusion. But that’s the last I will say on the matter as we clearly don’t agree.
Not really CP. if you issue more shares without increasing the other side of the equation (the asset side) then I agree. But if you have a bigger increase on the asset side than the liability (share) side, what exactly has been diluted?
CP could you define dilution?
CP, no **** Sherlock….as they say….
If you think that Wyloo might go hostile on GGP you might need to explain why the FMG BD team went to GGP and not Wyloo, who are in the same stable after all? Barnaba would probably have to resign and maybe Gaines too.
That's not to say that if a third party tried to buy GGP, Wyloo wouldn't play the white knight role (assuming we are still allowed to say that?).
Bandit. Arrogance or confidence? Just a matter of opinion as you say.
I have a view how this can be done with massive accretion to current shareholders. This is based on some facts, some press articles and a few things that I have picked up over the last few months, some of which I have shared with people I trust, and they have shared with me. At the beginning of last month I laid it all out for discussion, though probably not on this forum as its a bit noisy for my liking. Next few days will be pretty interesting I think.
You gotta have the vision!
I find it quite sad that there are so many tiny investors who cant see the massive opportunity in front of us. To increase Havieron by 10/3 and to take Telfer the mine which is nicely cash flow positive atm, and to have the processing plant and the cost synergies that that will bring plus a nice bit of cost cutting by our CEO (no more 4X4 vehicles for the non mine personnel!). To get back the JVs and become THE player in the region will all be worth a lot more than dilution. It will only be gross dilution, not nett dilution of course as the assets will be worth far more to GGP than the increase in shares in issue and extra debt, but I have said this before.
No wonder Shaun wants more instos and by inference fewer tiny tiny investors.
is quoted in todays Mining Journal as 'lining up global bid targets', for those of you that like a rumour.
And for those that think it might be FMG, I doubt it. Last month they transferred their Business Development team to GGP.
Dip I would say that is my second preference but a nice outcome too.