Member Info for Jerryspaniel

Drover, I would argue that a royalty deal could be dilutive as you are selling the future income stream. Just depends on the price. However given the buyers of royalties want to see an exceptional return, the chances are that it would be dilutive.

As some have said there are many ways in which to finance any deal. Initially it might depend on the price and the size of the assets, but I suspect I could think of more than half a dozen different methods. Given Shaun is an ex CFO, I would think he is all over these options, and I hope he chooses the one that is the most accretive.

MM, you should listen to how much Shaun praises NM and their management and what Shaun says positively about NC nowadays. The former a lot, and the latter absolutely zilch. The NC relationship was very strained not helped by Sandeeps attack dog running the BD unit at NC. Fortunately besides being a difficult person to deal with he was also a bit thick and very arrogant (which isnt a great combination), so massively screwed up the 5% negotiation. I understand that he is now at Hyperion with Sandeep, presumably making a mess of all their attempts at investments.

No one should miss NC, they were not good partners. IMO.

Of course it might be one of the institutions that Shaun has met over the past two days.

Chisler, I think it would be better to say that Telfer has liabilities, than it is a liability. 250,000 ozs a year at an aisc of say 1500, sounds like a cash cow to me.

Why didn’t he just answer the last question by saying ‘yes’?

Aqua, it a shame that after 1280 posts you still don’t understand the difference between dilution and accretion. Please look it up.

Avocet, I am quite a large buyer at zero. How much would you like to sell me at zero?

Email. Absolute rubbish. It’s clearly a tag on to the BMO conference and the usual round of investor meetings. You have a fertile imagination and that’s about all.

I think you will be fine Midas, but I am more certain that you will be disappointed tomorrow morning.

MH01 and others. I wonder whether we really want a high gold price atm? I have always thought that a high gold price would improve sentiment and attract money back into the sector. But for the next few months I think I would prefer it stay around 2050. Nice problem I suppose.

If GGP were just going to buy the 70% of Havieron, then I think Shaun could probably get a value at the touch of a button on his spreadsheet. However its highly likely that Hav will be bundled up with the Telfer assets, which will take a lot more time to value. So with that in mind I am not expecting anything for weeks, maybe a few months.

Anyone definitely going tomorrow? All I have heard from my GGP friends is that they cant make it, so maybe not so many there tomorrow.

Now I know where Andrew Maguire gets his information from. Pity Maguire can’t speak in the plain English that Frisby can.

Belated thanks for the reply and the DF link. Apologies but only just caught up.

Lee, if you are right and the US still has 8000 tons of gold, why haven’t they allowed a full audit, since (I think) the 70s?

I would be amazed if the US had anything like that amount and equally amazed if the Chinese don’t have over 20,000 tons.

No idea why anyone would buy US debt. Think I might prefer Argentinas!

MH01, it definitely is at this gold price, but I would have thought that if we get to 5000, then all p/es would explode higher. But you can halve it to 10, and it’s still a pretty big number.

It’s absolutely not a forecast. Just a bit of fun, playing with assumptions and showing the potential that some don’t appreciate.

Quite agree Speedy. You could drop the aisc, increase production via haul shaft and increase the shares a lot. Number is still over £2.50, and in some cases much higher than that. Especially if you added in a very profitable Telfer at $5000.

Quady, he did build some good roads though and looking at the potholes in Sussex we need some good roads built.

Basis aisc at 1500 and 350,000 production and a p/e of 20, and cable at 1.25, 6bn shares, I get to 326p. Well you did ask speedy.

Obviously all numbers are inaccurate assumptions, but it’s a start.

Sand, I saw 12 angry men in Brighton a few weeks back. Excellent play and great cast.

Sadly a lot more than 12 angry people on here. Don’t know why as the direction is as clear as Day to me….

Unimag, and others. There is nothing much wrong with Telfer the mine. Ok it is high cost and with a high cost operator like a major, so it may be sub economic for Newmont. But under the right operator who can strip out the fat and not burden it with massive HO recharges, it can be a nice cash cow, especially at au prices over $2,000. If you look at what Shaun and the rest at NS did to Jundee, you will know what Shaun can do to Telfer.

Anyhow it will go as a package and with the ROLR there really is only one buyer.