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The issue of being restricted from buying shares was a valid excuse. But no longer, as the reason they couldn’t buy shares would also mean they couldn’t issue options either. So Shauns usual retort is invalid this time, and again should be challenged.
Firstly I am a great believer in otm options for exec directors and senior staff. But I think they should be accompanied by at market share purchases. Only then can they truly say that they are aligned with shareholders. So if the sp falls they lose real money like us.
As to the view that exercising the options will bring in loads of cash, well it will and probably when we won’t need it, but will get diluted all the same. The exercising will almost certainly be accompanied by on market sales so that nobody outlays any cash and effectively ends up with free shares - after tax.
So if Shaun says he is aligned with shareholders, he isn’t and should be challenged on Thursday. I am afraid I won’t be there as on vacation a long way away.
Pretty sure that AB wont be around after the AGM.
I have decided to filter those who engage with people who I filter - starting with Toffers.
Like is going to be a lot quieter….
When the story appears in two competing newspapers its generally true.
So I am back with my view that it will all be linked together. Asx listing, a placing (plus consolidation) with maybe Wyloo and/or the Super taking a big chunk, a lot of debt (with a suitable hedging programme) and a massively accretive deal for current shareholders.
It will be transformational for GGP, the share price, and as Tig likes to call us, the owners! Happy days.
You keep breaking your promises peppers……
Yawn…….
I am pretty sure that back in March Shaun said that the team working on the FS was getting tied up working on the takeover. My expectations was that the same team would be doing the MRE. So not much surprise to me that NC didnt provide an update.
The question for Shaun to answer is, if he knew that in March, why didnt he put in train his own MRE to be released soon after August. I dont know how long an MRE takes, so maybe he did. I might ask him one day.
Jiffy. I, through Dan Horton at Newmont, was clarifying something that Tom Palmer said about ‘five assets being folded into our operation’.
There was some confusion about what the five were. Dan confirmed what they were. That’s all.
Might be fun to watch the Aussie Super trying to buy 3-500 million shares……..
Over on Ggpchat our long lost friend Hydrogen has dug up some interesting stuff about an institutional buyer while those that follow our resident technical expert, Bamps, will know that he is getting pretty excited about all those drill holes peppering the Paterson.
Time to sit back and relax. August will be an eventful month.
Speedy, I will try and make it too. Been a while.
Ace, perhaps some folks will now contact IR instead of making assumptions. Thats what they are for. Its in the name!
Just received confirmation from Newmont IR that Telfer was in the five and Wafi wasnt.
Hope that helps.
A lot of assumptions there.....
I would think that there is one big reason for the delay. Newcrest cant make the decision as they dont expect to be in existence when the mine starts producing and Newmont want to be the company that makes the decision after reviewing the Newcrest work.
It doesnt delay the mine development, nor first ore, not free cash flow though.
Hear hear TomE. Lets get after FredDobbs with lots of reporting....
GGPT, there are trading halts in the UK, just not as often. Then there will be an RNS saying trading in the shares is suspended pending an announcement. Personally, I dont like them.
My guess is that timing a visit to talk about the ASX listing is quite complicated. It appears that the prospectus for the ASX listing is a full prospectus, as if you were doing an initial listing. So it has to include everything and with GGP being a company with lots of material news on a regular basis, each piece of news has to be included in the prospectus.
Shaun cant talk about the listing until the prospectus is published and if he is negotiating any other corporate event or waiting on drill results etc etc, that just delays things. The danger is that as we get closer to August and a potential MRE update, that will need to be in the prospectus too.
I am sure its frustrating for all concerned, but I think we would all prefer lots of imminent news than an inactive company. Patience.
Silverfoil. Uncosted and unfunded.
Nice dream though.
Two pieces of potentially excellent news overnight. A haul shaft could double production to 6m tons, and a big merger of 1 and 4 in GDXJ could mean substantial additional buying by Van Eck. Neither should affect the sp today, but more good news for the pipeline.