Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
NCM exercised it on the 15th of December and GGP have released an MRE with data upto that point.
Reading between the lines, to me, this suggests the JV wording will take all information information upto this date. NCM may be trying to pull a fast one using only formal third party correlated data hence the PFS but Shauns counteracting that with our MRE.
Neither are using $1800 gold for their calculations. From memory NCM are super conservative at around $1200, GGP stated $1750 (I’m not 100% sure on either of those figures) if they can’t agree on a base figure for POG, they are instantly further away than 20% anyway.
It doesn’t matter how big it will eventually be, the agreement has a cut off date which is why NCM exercised when they did. Shaun realised a MRE for all the information upto that December 2021 date and that’s where the discrepancies between the two valuations are coming from.
Given Shaun stated production could be as soon as 18 months away, I’d hope Shaun would use the experience and expertise of the team to retain the discovery, funded by the free cash flow from Haverion.
Spade- don’t be an idiot with such little compassion. You rightly said you took all the risk getting in early but let’s not detract from the fact, most LTH are still sat on huge eye watering profits because of the investors that came later and pushed their prices up. So when people worry about why they’re -30/40/50% down, have a think about it whilst sat on +700-1000% before making such sweeping statements.
Jiffy- this is purely my own opinion and some probably won’t like it but Shaun said he believes the short is hanging around until the 5% decision and thinks it will be gone after that. Make of that what you will but I’ve interpreted it as the market may not like the outcome and therefore the short is treading water in the meantime. Shauns tampered expectations and is clearly fighting as hard as he can to get the best outcome but I think we’re going to see some downward pressure relating to it.
Bamps, I’m not sure if I heard this comment wrong which I probably have as I’ve seen you sort of contradict what I thought I heard today.
What I thought I heard was that Shaun expected the 5% deal and debt financing to be resolved in the “next few months”.
Did I hear that wrong/take it the wrong way?
Ah ok, so I didn’t miss too much, I did hear him say it would be 100m for a conveyor so we’d need free cashflow to do it.
I thought he either didn’t understand or skirted around your question when you questioned the overall size based on the drill results, did you think you got the answer you were after as I thought he didn’t really answer it and instead went off with another train of thought.