Member Info for kempey

Forget last post as the figures simply relate to the exploration costs not the value of the resource however it seems they get their 70% of the resource value for $65m. Cheap or what? Guess they take the risk but on the back of GGP initial data.

$65 million for 70% of a potentially huge gold deposit seems cheap to me. values the deposit at $84 Million and our share less than $20m if my 'fag packet'maths are correct. I know we no longer have to do anything and can concentrate on our other projects without further expenditure on Hav but it does seem cheap.

I think I will contact NC and GGP for further clarification regarding the contract. Do we know when the next AGM is in London?

Jersey..just read briefing report again and it does say earn not purchase...semantics?

Hi Jersey...are you saying they have the option to purchase the 70% at fair market value in return for spending $65 over 6 years on exploration and set up costs. If so it seems a much better deal and my misunderstanding of the deal. What I wonder will be fair market value over 6 years?

MM's need shares and chasing stoplosses. Sells outnumber buys massively yet the shareprice is holding up. Normally this would result in a dramatic drop in share-price which given the news doesn't seem logical. IMO someone is loading up and have an order in with MM's at a fixed price. Crossed my mind that broker for NC may be buying on their behalf so doesn't need declaring yet and that this will reduce the payment NC will need to make for a total eventual buyout. Do NC only have to spend $65m over 6 years to take 70%. It seems like a snip to me if that's then case. Where does the predicted $300m buyout come from... the remaining 30%? They can earn a further 5% ' at fair market value' at the end of 6 years so if successful 25% left for us at what value given 3.4b shares in issue. $300m for 25% makes this a $1.2b deposit. Is that feasible? I have quite a chunk of these in my portfolio and i am trying to get my head around the eventual value to us shareholders . Any thoughts on NC loading up. Good to see a page in their briefing report given to Havieron and indications of significan intercepts greater than 0.2 g/t seem numerous!

no price rise

Almost 10:1 buys v sells and price rise! Intrigued!

As anyone managed to get an update from FRR's public relations company. Is it confirmed that the company no longer exists? If it still exists why are no share cerificate's being offered....according to my bank? Do share holders not get an update from the liquidators if thats whats happening.

4.5p

Someone said the AGM was due shortly. Anyone know when?

Long term investors should not be worried imo.

New acquisition already decided. Perhaps they are going to buy the rest of HH. All part of SS's cunning plan!!

I know number data of buys v sells can be inaccurate but there seems to be far more buying than selling 2:1. Either someone is loading up possibly SB or we can expect a large sell later. I can think of no other reason for the drop apart from MM's chasing stop losses. I find the drop difficult to understand given what we know and the potential of our other licenses.

Being worked at a fixed price me thinks possibly 2.10p. MM's occasionally dropping the bid to scoup up stop losses. No reason I can think of for price drop given the news we have had and is to come.

Very true bigbench but still hurts. Will now throw everything at Greatland Gold which will recoup my losses here over the next year.

This arrangement speeds up the possible production of the gold and other metals beyond what we could have ever expected if we JV d with many other companies. This means greater and faster monitisation for ggp. Win win situation. Let's hope it only
takes £10-20m to prove up the deposit and produce feasibility study.

What we now need is a counter offer by a third party. This is allowed under the agreement though GGP must give Newcrest first refusal to match it. £65m seems low to me to JV given what we think we have. Any views?

Apologies accepted!!

Suggests to me that we are in negotiations with a major and there is a news clampdown. Possibly a NDA being formulated giving the major first refusal following further drilling financed by the major.