Member Info for JoeBass

These 6p today, and everyday prediction boys know how to call it. Jeezzzz.

Give it a rest ffs. It will hit 6p when the spivs say so and not before.

This was mentioned recently, if NC burn their $65 million commitment and still don't identify the limits to Havieron, how do we know fair value ?

What if they only identify 50% of what Havieron holds ?

It doesn't really matter when Havieron will be mined, Havierons financial fate will be sealed in 2020. I,E, this year.

As a bare minimum, we should be trading at 1p per drill rig.
8p.

We are soon into the last month of Q1, Scallywag operations/drill program update must be imminent.
My guess would be next week.

Is up $25 oz just today. To put that into perspective, @ 20 moz that would add just to GGP 30%, an additional $170 million, just today.

"A pretty large spread
whats that about"

I said that to my missus this morning when she was in the bathroom, I got a slap for my enquiry.

schlemiel,

Be careful mentioning the price of gold, you'll be accused of going on about it and when you respond to your accuser, it will have your post removed.

8adger,

Take a look here.

https://www.lse.co.uk/rns/AMC/metallurgical-results-update-sjvvbld4zkiiu8h.html

sicilian_kan has actually raised an interesting point.
If 10 moz are announced for initial MRE @ $200 oz, that values our 5% @ $100 million, but that is still not fair value, only when all resources are identified is when true value emerges. This is when GH accepts a fair value offer.

SK,

"It is perhaps obvious though, that their interests are not necessarily aligned when looking at the acquisition cost of the 5%."

That's a fair point, but who determines, "fair value" ?
I bet you it's not NC.
GGP are the owner and seller, period.

"We were told to expect something in February"

You are displaying all the tendency of being obtuse with that statement. Nobody from AMC has made such remark. Even if they did, you would have to take it with a huge pinch of salt.

"So, do not be surprised if Newcrest focus on infil drilling or if the resource comes out this summer at around 5.5m oz. It is after all what GGP's own broker is telling us."

SK, that's not quite right, GGP's own broker is saying that is very conservative, The main thrust of your argument would make sense, wearing a NC hat, but if they shaft GGP, then what chance do they have for other licenses ?

I suspect closer to 10 moz in first MRE.

Selling this morning, GH likes to put news out on Thursdays 10am ish.

"Robin young In last years prestatation december 2019 he did say he expects AMC to be in production by 2023"

And in the same meeting, RY heard Mckay say to shareholders "2018 drill update WILL be public before year end"

Young also told shareholders at the November 2018 presentation, he would improve communications.

And don't forget this beauty,
RNS, 22 March 2019,
"I look forward to providing a more in depth perspective of the strategic partnering plan in the very near future."

You cannot rely on or believe anything Young says.

$1607 oz

The spivs have been in a bit of a twist, they've had the sp, up and down like a pair of knickers in a Bangkok bar.
Will there be a happy ending ?

"A) If 7.5moz at $180, stake GBP 312m =>8.8pp. "

How do you arrive at 8.8p in above calculation ?
I get a bigger number.

“The Warrants are exercisable from 17 February 2021 to 17 February 2023, at an exercise price of 6.75 pence per ordinary share.“

This is interesting, so he has 1 year to get the sp to a big number, before he can exercise them, if he wants his dough early.

Is very subjective at this juncture.
SK, has his opinion, which is based on $100 oz, that would equate to approx 3.15p for 5.5 moz.
That's too simplistic for me, it does not ascribe any value to other licenses with already proven gold deposits.
Neither does it allow for the USP factor, ie on Telfers doorstep and Telfers insatiable desire to consume huge amounts of high grade ore.
In addition, different deposits include many other variables, $100 oz is probably a minimum, $200 oz is not unreasonable for NC's desire to feed the beast.

5.5 moz may also be way out, but @ $200 oz, it should be closer to 6.5p right now.
You also must factor in this, if Havieron contains 20 moz and NC acquire 70% for $65 million, that equates to about $21 oz inground cost to them, so if they pay $200 oz for the other 6.5 moz, then that values our 30% at $1.3 billion.

NC essentially gets Havieron for $1.365 billion, so technically, they pay $39 oz average inground for the lot, based on 20 moz @ $200 oz, this does not stop a market value of $200 oz based on many compelling variables.