Member Info for Jerryspaniel

GH has gotta like that tweet paddy!!
I presume both companies are all over that structure.

Hi Paddy. GH said there were multiple bidders for Hav and he didn’t deny that Rio was one.
I understand telfer can process high cu ore. It would be odd to see Rios trucks drive past telfer on the way to winu- if I have my geography correct.
Maybe some of the other assets might be more suitable for Rio and they may have a competitive advantage.
I think NC and GH see scally as just an extension of Hav and that’s why it’s important for ggp to drill it ASAP. IMHO!
I wouldn’t think Rio bidding for NC would be in our interest.

GH (does anyone think he looks like Alex Salmond's younger brother?), didnt talk about the rest of BH's drill results. He did say that it might be drilled further in 2020 but was behind Scally and PRE. He apologised for the delay in FT.
On the subject matter, I dont see a bidding war for GGP. I think there is only really one buyer, unless Rios bid just to force NC to (over)pay, but that is fraught with danger.

Hi Timid, not sure there was any hard and fast mention of a date. GH did say that NC could stop now and do one, with the information that they have. SB also said 9-12months from last July/Aug I think.
So my guess is sometime after May, unless of course they still hadnt found the length and breadth limits!!

Older, I agree. Can’t see anything happening till mre and probably not till the 5% has been valued. Unless scally and others show something significant, ggps valuation will be pretty much 100% on the 30% of Hav.

Now we know what Anna did!!!

Heart, instos almost never buy on first meeting. They like to see if management do what they said they would. This builds up trust.
GH might have to meet instos three or four times before they buy. Then it all comes in a rush, hopefully!

I plagiarised something from the Solgold site a few years back. Not my view. Dont know the guy but listen to Sprott each Friday. Some interesting stuff, though they are somewhat fixated by the corrupt gold market. I think I am not clever enough to work that out.

Agree Timid, but it wouldnt be a 'fair price' if the mine made a loss and Telfer printed money, so they must use some kind of standard treatment charge, and the closeness would increase the value of the mine. Thats my logic anyhow!

Not sure you can, but if you do 400X300X1000 I think you get to CBs 20myn basis 2g/ton. Then you can play with the gold value and atm I am thinking/hoping its between $200 and $300 with Telfer nearby.
But there was a great interview recently with Brent Cook (some people move the 'r' into the surname though....) on how its tough to equate g/t into $ in ground, its worth a listen. On the Sprott website. So it really isnt easy from where we are now to have any kind of guess at $ in the ground. IMHO!

Looking at, you also have to divide by cable to get back into pence. Otherwise I am doing same calcs. Using approx 4145 shares on fully diluted basis.

There might be a 3rd party but I really doubt it. NC have all the pricing advantages and surely dont want to have to deal with someone else in their backyard.
The pricing for the 5% is at fair market value for the asset and nothing to do with the sp at the time. Its also based on an experts view of what the asset is worth, so taking into account the mine style, cost of production and the fact that there is a processing facility only 45km away. With other deals being done at $200 per oz, and Telfer being close I would have thought something over $200/oz would be the valuation, assuming that the deposit isnt a bugger to get at. How much is there is the guess though. 20myn as per CB and $300/oz would be a nice dream.
Whether NC would want to pay the same price for the 25% as the 5% is an interesting question. Maybe more for 100% ownership. But I am getting ahead of myself....

CB, it was Callum I think that said eight years, not ten. I have no clue as to full or partial as I wouldn’t know the difference. But they did say that something else could be done earlier to get cash flow. Maybe that’s the partial?

Timid, you are a genius! Thats exactly what they said. DCF reasons. Now I remember....
Also why they want to go after the best Scallywag opportunities as they are so close to Hav the added value would be immense.

Timid/Paddy. I have to say that I didnt understand why you wouldnt go below 1400m either, but they did seem fairly certain that would be the limit. Its not the limit of drilling as Alistair confirmed that the deepest drill in Oz is 3600m and they were not limited by current equipment.
CB did say that a block cave is 500m deep, so 1400 gives 2 block caves and 400m of cover. Maybe you cant do 3 block caves with current technology?
Timid. It was my analysis that suggested the company might not be around beyond a couple of years. The only thing that GH said that supported that view was that he doubted GGP would be around to pay a div. Plus that they were there to monetise the asset, but a lot of directors say stuff about s/h return whilst secretly empire building. Please dont base you thinking on just my takeaway! I have been wrong many times before.....

SocialistB. Firstly I cant believe I am responding to someone with that name! Must be my good deed for the day..
There is absolutely no difference between you getting a 5% dividend and you selling 5% of your holding, each and every year (unless there is a difference in taxation). A 5% div reduces the size of the company by 5% and therefore the value of your holding by 5%, as does selling 5%.
IMHO companies that pay dividends are saying that they have run out of ideas that will generate superior returns and so you might as well have the money back. Appreciate that others may disagree with that thought process though.
A company the size of GGP and being an explorer, not a miner, will always have a greater need for cash than paying divs. Block Caves at Hav will take 8 years to build and after that, the owner will be spewing cash which will go towards paying off the debt that was taken on to build the mine. So 10-12 years before free cash flow. Even if you didnt agree with me that GGP wont have Hav and probably wont be around in a few years, its so unlikely that GGP will own 25/30% of Hav in 10 years. I think you own the wrong stock. Buy Newcrest then you can have the div and Hav.

Hi Schlemiel. I will cut you some slack as you were a long timer on the Solg board. You need to go on to the GGP website and probably the NC one too and get up to speed quickly.
A lot of the value in GGP is precisely because Hav is 45km from Telfer and there is no need to construct a processing plant, which would cost about $2billion.

Hi timid. Yes been here longer than ggp. Few others here too. Italian, addicknt and cookiecrew are others. Excellent risk/reward I think.

I think you are right.
Also someone said that cgp was bit like brexit! Totally bored with it. But although against it just get it done!

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