Member Info for johnpwh

Did anyone listen, I couldn't today. Any highlights/ impressions?

As I said maybe yesterday, lets all pray for a rose in CU price, which is possible given predictions of CU shortage. That could put a different complexion on this mess

A JV LEW82? Had crossed my mind

You can say that again.......

I suppose if I were a glass full sort of chap (about the opposite of the truth as I reach for another handful of Prozac washed down with Aldi Gin) I could interpret 'continuing to examine and evaluate the full range of options available to it in relation to the Hull plant' as meaning the possibility of assuming full control of the project from a cash strapped partner. Whaddayathink?

You did indeed Spades. And as testpack has said the seed is sewn for abandoning of the Hull plant. Truly poor management

I so hope you are right Mr. Jones, I truly and honestly do.
What we must hope for is a rise in the copper price, which is basically where it was 10 years ago (in absolute terms let alone adjusted for inflation). In theory it should rise with EVs etc. No good having all the copper in the world if it costs more to get to market than its market value.
The terms we get for any cash raised (equity of debt) will depend on the copper price so we had all best hope it rises pretty damn quick

You must be easily pleased goingtomoonufo.
I suspect you are just a wind up merchant, and why not. We may as well have a laugh!

Morgan
Wotcha!

Bedhead
No, I lost money once here after investing (aren't investments supposed to give a return in order to be called investments?) over 10 years ago in the Ogilvie days, then followed the 'Norman' days, got out, then foolishly believed the new broom who was a previously successful turnround specialist would finally be successful here too and got back in. I just can't bring myself to take another loss here and thus admit to how stupid I have been! That is the only reason I am still here. I have zero belief in Rambler, if you and other believe the story then good luck to you. I honestly hand on heart mean that.
You should go on stage, I admire your sense of humour. Jam tomorrow. Like it was in 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021.
And no doubt in 2023, 2024, 2025, 2026 or until it folds and debtors take over the company. I am not a deramper. I am not a wind up merchant. I am a realist.

A genuine thank you Bamps, I bow to your knowledge!
The conclusion remains, that I personally (and I appreciate others views may not concur) am happy with SD and my investment in GGP and regard myself as a LTH - albeit only since the start of 2022 when I caught a falling knife and have periodically been catching it at regular intervals since. I read your submissions on this board with interest.
Before I go back to sleep does anyone have a ballpark figure for production / AISC costs now for Havieron given the current economic turmoil, or do I need to wait for the FS? I listened to the minutiae both broadcasts with SD yesterday, and it was clear to me that dividends are his preferred method of making returns to shareholders when possible. Any shot in the dark about when those dividends may commence (I am a pensioner!!). Ta

Hi TT.
I think we'd best leave it that there is 'a' business plan!
I have mentally written off any value here, as I expect you and unvrkw have. It will be usable as a capital loss if nothing else. The only hope, as we have said before, is the litigation. It's always been my view that you rarely win against a State and they will simply say sod off and that will be the end of it

I post here but infrequently as, although reasonably knowledgeable, I am not as knowledgeable (or proportionately invested) as many here.
I was not an early investor, and am underwater by a little but not much.
I hope to make a healthy return here but I don't expect to be rich!
My view is that many are scathing of SD as if he is out to 'get' PI's. That is, I think, disingenuous. It was his choice to come here but think what he 'inherited'. The previous management did not, in my opinion, play a blinder for their no doubt generous salary package. They sold 70% of a promising asset for less than the amount that 5% is now considered worth. On top of that, they did this with a JV partner who also demanded smelter royalties on GGPs share and the interest rate on a loan of over 8% over base rates. That is what SD has had to sort out, and he wanted to do it as rapidly as possibly to end uncertainty.
The big contribution he has made is to give that certainty, or as near certainty as we can expect. We are soon to be out of that penal loan repayment rate, are de-risked by being fully funded (in all probability, I understand that in the current economic environment that cannot be guaranteed) and the mine decline is progressing increasingly well. Yes, you can argue this could have been better or that, but all of a sudden a dark cloud has lifted. We can't do anything if NCM play games, GGP gave away control of the asset so will always be tugging our forelocks to an extent. However I don't see NCM trying to screw GGP because their business model relies on relationships like this, besides which their Telfer plant is getting hungry. I don't expect a dramatic re-rate, just hopefully a positive drift upwards. Have a good day everyone.

Well if he's buggered off after buying first thing its likely he's made a decent loss on that trade!

Thanks Steeplejack. It's always good to get someone elses view.

Todays news puts my mind at rest. I don't feel I need to watch this, to constantly look for updates. There will be no massive immediate rerate imo, but a gradual drift upwards as progress and drill results hopefully continue to impress and we approach first pour. I also would like to see PoG go to, and beyond, $2000 which in times of inflation it should. So a back burner for me, I'm certainly not a seller unless the situation changes markedly.

So is the Hull plant a total white elephant based on this update?

My take is that we now have certainty and surely a green light that this will now happen. The project is now very real. At a first glance the cost/ dilution is eyewatering but its a big project, better to have a smaller share of something big that is happening than a larger share but where development is uncertain. Derisked let's see what happens to the SP

Not sure I do devil. There is some uncertainty about the future for Lithium mining in Mexico as there is an official move to make it state controlled. Even if this is eventually resolved I think the effect in the short to medium term for Bacanora would have been very negative - unlike Ganfeng it was the only asset it had.
Does anyone read anything into there being an investor presentation on 15th (ie this Thursday), is anyone expecting significant news of partnership or take over?

They wont do that as all that achieves is delaying the inevitable. What we must hope for is a resurgence in the copper price, the last few days have been a bit more encouraging. But by the sound of it the BoD has made its mind up to strengthen the balance sheet in any event.