Member Info for kevin0541

That’s not correct Barna. They are using the words of merger but the fact is that the offer is for NEM shares and by default NCM shares will be cancelled. The JV transfers to NEM if the current Change of a control clause in the NCM/GGP JV permits it. Much more likely that GGP has a first right of refusal so may not want the 70% to go to NEM. However buying the 70% is pointless unless MCM or NEM are prepared to sell HAV

Good point GGPthruand thru. We should al remember that Boards are in it for themselves from my experience and if the deal is sweet enough for them to walk off into the sunset very rich, then they will do so. The interests of Shareholders will come second, trust me. Everytime I sat on the Senior Management Team meetings of a multi-billion USD company, the most common discussion was around how to get bonuses and options up as high as possible - it was shocking!

@culpepper whilst I agree with your statements, I equally can’t see this board accepting a takeover so early in their GGP careers. Of course they will benefit from their options but the longer term prize is much more valuable. On the flip side a reverse takeover (of Telfer and 70%) is a big ask but not impossible with the right backers. It’s very low risk for lenders once the updated MRE is published.

Reversed - lol not revered; indeed far from it

Not this time TT. It wasn’t a UT trade which as you say gets revered, it was an in-hours movement at 1624

I watched it drop on one go at 1624 yet no sell has yet showed up for that time. Totally crooked market

Interesting video on who might be interested in NCM for the copper portfolio

https://share.newscasts.refinitiv.com/link?entryId=1_sgw0gs03&referenceId=1_sgw0gs03&pageId=RefinitivNewscasts

@unimaginative. I believe you are wrong. The JV sits outside anything else and has its own contract and will have a Change of a control Clause. This clause is specifically for a change of ownership where the current partner (GGP) may not want to be tied up with the new owner and therefore has first right of refusal to buy out the JV. This is standard practice in JV’s to protect both sides. For example what if the buyer was PE and GGP wanted to stay listed; it wouldn’t want its 30% taken private

I would be amazed if the JV didn’t give both sides a right of first refusal on the other parties share of HAV under a change of control clause. Equally I doubt NCM would have included Telfer in that. So IF MCM is bought by anyone and IF Shaun is planning to buy the 70%, there will be an interesting tussle over Telfer with our side having the bargaining chip of ‘if you don’t sell it to us at a fair price, you will have the cost of decommissioning’ and the other saying if you don’t sell us HAV you have a mine with nowhere to process what’s extracted’. Interesting times!!!

As some said over last few days, beware of shorts taking us back down again. Looks like they are going for it this morning, the Barstewards. Oh for a full on short squeeze

Buying the other 70% of HAV without buying Telfer would be suicidal. Whoever owned Telfer would have us over a barrel. Buy both together and you are cash generative from day one AND you can process other people’s ore as well

Interesting comment made today by an analyst

Barrenjoey analyst Dan Morgan said Newcrest could do more to convince investors of its worth.
“The Newcrest board and management team can do their role on a very active defence, which is to propagate the stand-alone view. I think the plan for Newcrest should be to hold a strategy day to lift the veil on a lot of their amazing projects,” he said.

Sorry Tom, but information disclosed in acquisition discussions remain confidential to the parties and each party will be bound by that for probably 2/3 years. This is standard in any acquisition IO was involved in.

@Jerry dilution in shares does not necessarily mean dilution in share value. The acquisition would be accretive and would make GGP instantly cash generative, with long-term guaranteed revenue streams. Banks would love it

They will have to update the MRE swiftly to fend off low ball bid but I guess they could do that within a confidential takeover environment. They may not have to publish it, but GGP would probably know the outcome as a JV partner

Should have been Sandeep has been doing scrip issues

Tom it’s because they are cash strapped. Sander has been doing scrip issues instead of dividends as he has overstretched on the buying side. They need to reorganise their finances swiftly. For those not aware of scrip ..,

In corporate finance, a scrip issue, also known as capitalisation issue or bonus issue, is the process of creating new shares which are given free of charge to existing shareholders. It is a form of secondary issue where a company's cash reserves are converted into new shares and given to existing shareholders,[1] or an issue of additional shares to shareholders in proportion to the shares already held. A scrip issue is usually done when a company does not have sufficient liquidity to pay a cash dividend.

He said all outcomes re Newmont create win/win for Greatland. Doesn’t rule out possibility of GGP buying Telfer annd rest of HAV and even buying Winu from Rio Tintinto Gil Telfer. Also very excited about Blackhills and two other areas announced in last RNS (fine sand samples which he says are really big) and which he explains are very positive. Finally he says that anyone who has seen all the data for HAV knows how NCM have underplayed it and now will have to come clean if they want to fight off a low bid

Dont miss out on this one and the potential scenarios ahead of us and a great explanation about Black Hills and two other finds. He also alludes to the change of control clause in the JV with Newcrest but shies away (for obvious reasons) of saying what it is. However he hints at right of first refusal.

Still strong as I have just been offered 8.93p for half million dummy sell