Member Info for Lenz

Either people are taking profits fro the 16p price or mm's are trying to hold this back, but they are struggling !

You did indeed Spy ....

treat 16p as a LTH would be treating 1p. your journey starts here, some of us are just a bit luckier.

Spades I am not bitter mate, I am doing what paddy says and not selling until I reach my price . I didn't blame anyone on the morning of the swag results, but that doesn't excuse his blatant ramping .. and yes I did buy some in the low 30's and also at 16p so you see I have been adding mainly because of the amazing drill results. Anyway enough said on this, it is a waste of time !

Joe bass ... can you explain all your ramping before the Scally results came out, I presume some people lost a lot of money because of your ramping . I wasn't one of them thank god !

Here is the link

https://im-mining.com/2021/08/26/intertek-opens-state-of-the-art-new-laboratory-in-western-australia/

I have heard that the new additional assay facility in Perth is now open and operational, that should get the drilling results back a bit quicker ;-)

Great breakdown Zoros , pulled everything together .

Droverman .. even if what you say is correct the farm in period is nearly halved by the way they are progressing, so 6 years is definitely too long ;-)

Speedy .. that puts our share of havieron @ just over £6bn what would the resource have to be to achieve that figure 25moz or thereabouts I would think .. going by bamps figures that should be achievable .. the question is WHEN !

Hydro, all good points but how long does it take appointed independent assessors to come up with a fair market value, I can't see it being done by the end of the year, plus they will have additional drilling results we don't have, not a job I would like to take on ! ;-)

Notrader . I didn't say that .. that is copied direct from the GGP website

Here it is again ....

STAGE 4*
Newcrest incurs an additional US$20m in expenditure in relation to the Tenement Blocks and delivers a Pre-Feasibility Study
US$65M
Earn an additional 10% Farm-in Interest and qualify for 5% additional option
Within 24 months(from Stage 3)
70%
(POST-STAGE)
Newcrest must have met the milestones in the four-stage Farm-in
Option to acquire an additional 5% interest at fair market value
75%

Zoros, that's not what is on the GGP web site I copied earlier, once stage 4 is completed but it states they have 24 months after stage 3 to get the 5%. so the way I look at it stage 4 is the completion of the PFS and they have about 18 months left of the 24 to purchase the 5%

Maxwell, yeah I had another look and you are correct it is up to NCM whether they take the 5%, but again after checking the agreement they have to take up that option after the PFS and within 24 months of completing phase 3

StarBright . I would have thought GGP would have the right to refuse the offer for the 5%, if it was not acceptable .

Freddie .. I didn't say NCM I said banks .. businesses go to banks for loans every day nothing difficult about it ! Especially when you own 30% of a tier 1 gold mine with a low AISC ( my assumption)

Droverman , my post was lifted from the GGP website .. re Havieron so I will go with that ;-)

Hi Freddie . But did they have a joint venture with the biggest miner in Australia, not just one JV but 2, plus other prospective areas close by and a processing plant 45km away .. you have to look at the bigger picture and not compare apples with pears !

StarBright... that's a bit left field to say the least ;-))

StarBright it isn't a wrinkle ..the 5% will be an independent valuation from all the drill results NCM and GGP have at the time, with I would expect consideration for areas that are still open ! Imho