The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Many thanks Dip666- a fabulous piece of work ! :))
MFU
don't tell me you all had to sign official secrets documents lol !!
GLA MFU
I am sure Dip666 will deliver his usual excellent transcript...in advance of that I paid particular attention to the 5% questions. At first it appeared SD implied it would be based on PFS numbers but he revisited this by stating that the 5% valuation would be based on a specific date which I think was the 15th December. He followed this up by reassuring investors that the MRE2 was specifically scheduled based on the circa 5th December 2021 meaning we have full justification for basing our numbers on this. IMO and based on SD'S explanation had MRE2 not been brought out in this way we would have been at the mercy of a smash and grab by NCM for the 5% based on the much lower PFS numbers
I further see this increase in 10-20% difference in values as being a strong indication that NCM have met their match in the GGP team and this will ensure they can go back to their shareholders with a degree of positivity as can we.
All IMO of course
GLA MFU
Hi Sojourner
Yes indeed and maybe today is the release in this RNS?. So it could be something SD has included as perhaps there is a benefit to GGP for doing so? If this has been amended I would love to know why-perhaps with no more shares to issue it makes it easier for GGP to raise loans for Capex etc who knows ? Can anyone think of reasons why ?
GLA MFU
Jerry/Bamps et all going today...this might be an excellent question to ask ? Has this alteration re the issuance of shares to Pacific been introduced recently and if so what is the objective of doing so ?
GLA MFU
Hi Canary
I initially thought that but the deal was struck with Pacific long before Newcrest cam eon the scene therefore in this case NCM would be that third party. So the possibility is there for the shares to be issued sooner.
BTW re the increase from 10 to 20% that can surely only mean they are within this boundary or it would look pretty foolish so everything is pointing to a compromise on this and I would guess pretty imminently ie in March.
GLA MFU
Hi Zoros
Thanks for responding. Yes happy to retract the drilling metres query I understand this a bit better now
The other Q1 was more a hypothetical that if they can't agree numbers on 5% due to increased in cost to what NCM hoped to steal the 5% for then maybe a is there an out of contract scope for a smaller % that gives GGP everything it needs for both Loan repayment and initial Capex ?
If you don't feel it is relevant that's fine just wanted to put the thought out there
GLA MFU
Bamps I have the utmost respect for you and will continue to support and appreciate your immense knowledge on all things geology/mining/drilling etc
However when it comes to the relationship I have to disagree. It is as plain as daylight that there are issues;
1.After over 2 years of 6 weekly updates why stop now ?
2.After NCM and SB stated on multiple occasions in 2021 there would be MRE2 by end of year why postpone until 30th June 2022 cut off at a time of ultra sensitive 5% negotiations
3,Why did SB state there was "NO RELATIONSHIP" between 5% negs and the MRE2 (that took the Huntley & Palmer wow)
4.SD publicly could not answer as to why no MRE2 was presented in February 2022 and admitted in interview he was only told a couple of days before
5.As Hydro has pointed out why has it taken 10x the drilling compared to SolG for a fraction of resource both Jorc compliant-SD clearly decided enough was enough after the PFS and has rightly announced our own MRE2-
All this IMO points to a significant change in relations and in different ways a slowing down of news progress coming out of Hav which as Schlemiel states is to aim to nick the 5% or more on the cheap
GLA MFU
Capex not cases costs!
Thankyou Ben good points raised.
Zoros/Jerry please can you consider adding two more questions?
1.If agreement cannot be reached due to the amount it would cost NCM is there scope to reduce the 5% to say 2.5% so that GGP can pay its loan off and cover out initial cases costs so a compromise solution?
2. I am still unclear about the volume of growth drilling until 30th June 2022. Originally it was stated to be 90,000 metres however just recently it was announced as 40,000 metres why the reduction is it because drill rigs have reduced from 11 to 6 or another reason?
Many thanks
MFU
"MFU.....you state some very interesting points.....you would not have done so when you held large amount of shares in GGP......like many here you play the game V.well! Trust you have sold out and looking to get in again cheaper to continue to pump and dump"
daveri007 just because I have asked some relatively hard hitting questions does not mean I am into employing those sorts of tactics. I am a PI like nearly everyone on here and feel free to have a scan through my posting history. I have never sold out. Yes on a few occasions I have taken some profit (and not always at the best times) but often when I have been fearful of a larger market correction for example. I have pretty much always kept a core holding of around 1.5m shares and when I am more confident of both the wider world and of course this persistently annoying shorting situation I am comfortable to go to 2m and above. Here is a copy and paste from my HL SIPP from this morning;
Greatland Gold Plc
Ord gbp0.001
1,700,000
13.90
£236,300.00
I know a few posters might say what the bl@@dy hell are you doing posting that but I do take offence at being categorised in this way.
GLA MFU
Hi Zoros;
1.Given the huge importance to Telfer why has exploration drilling been almost halved from 11 to 6 rigs ?
2.Is he of the opinion NCM are complicit with JPM in shorting GGP in order to generate a cheaper takeover price for Hav?
3.Why in his opinion would NCM suddenly defer MRE2 and the latest interim exploration results after over 2 years of seamless and timely news updates?
4.What could possibly have motivated SB to say that MRE2 and the 5% purchase are totally unrelated ?
5.Why has SW drilling results been so long in reporting ? Come clean is it a dud ?
6.Given the high optimism around our portfolio why have we not managed to strike anything resembling a high grade outside of Hav and therefore should we look to divest selective licences and keep Havieron as our majority focus ?
GLA MFU
Hi MushK -yes H has probs hit the nail on the head ! If indeed this GDXJ purchase is needed we aint half making it easy for them
PS-Well done for being part of the Stroud group-so nearly could have made it as the missus was due in the Forest of Dean although I was working but in the end our friends got the lurgy just before anyway :((
Fingers crossed for a future event in Stroud and/or the Stag
GLA MFU
Paddys post a couple of days back which received over 100 recs seems to have fallen on deaf ears judging by the number of small sells (just after the usual 500k block sell earlier this morning) The plea was not to make life easy for the MM's and make GDXJ pay more for their stock. Why oh why then are so many bailing at these 14p levels ??
16-Mar-22 12:08:52 13.90 215 Sell* 13.90 14.20 29.89 O
16-Mar-22 12:08:32 13.963 10,000 Sell* 13.90 14.50 1,396 O
16-Mar-22 12:03:22 13.975 89,600 Sell* 13.90 14.50 12.52k O
16-Mar-22 12:02:46 13.975 89,600 Sell* 13.90 14.50 12.52k O
16-Mar-22 12:00:42 13.963 104,376 Sell* 13.90 14.50 14.57k O
16-Mar-22 11:54:45 13.95 210 Sell* 13.90 14.50 29.30 O
16-Mar-22 11:52:24 13.963 10,062 Sell* 13.90 14.50 1,405 O
16-Mar-22 11:50:22 13.93 4,627 Sell* 13.90 14.50 644.54 O
16-Mar-22 11:41:51 13.96 3,000 Sell* 13.90 14.50 418.80 O
16-Mar-22 11:33:20 14.00 71,472 Sell* 13.90 14.50 10.01k O
16-Mar-22 11:22:22 14.00 40,000 Sell* 13.90 14.50 5,600 O
16-Mar-22 11:17:47 14.011 71,437 Sell* 13.90 14.50 10.01k O
16-Mar-22 11:15:07 14.00 10,000 Sell* 13.90 14.50 1,400 O
16-Mar-22 11:14:31 14.05001 10,076 Sell* 13.90 14.50 1,416 O
16-Mar-22 11:00:15 14.08 12,500 Sell* 13.90 14.50 1,760 UT
16-Mar-22 10:59:28 14.15 187,381 Sell* 13.90 14.50 26.51k O
16-Mar-22 10:59:27 14.30 139,797 Buy* 13.90 14.50 19.99k O
16-Mar-22 10:58:53 14.13501 60,000 Sell* 13.90 14.50 8,481 O
16-Mar-22 10:58:47 14.07 187,381 Unknown* 13.90 14.50 26.36k O
16-Mar-22 10:58:21 14.13501 5,057 Sell* 13.90 14.50 714.81 O
16-Mar-22 10:55:08 14.35 153,109 Buy* 13.90 14.50 21.97k O
16-Mar-22 10:48:24 13.90 500,000 Sell* 13.90 14.50 69.50k O
16-Mar-22 10:47:10 14.16 98 Sell* 13.90 14.50 13.88 O
16-Mar-22 10:43:28 14.16 26,267 Sell* 13.90 14.50 3,719 O
16-Mar-22 10:38:03 14.16 71,986 Sell* 13.90 14.50 10.19k O
Hands on face emoji :(
GLA MFU
Thanks for all the responses earlier today. Some differing but equally valued opinions between NCM further holding slowing things down on the drilling front and as we are now solely on growth drilling that 11/12 rigs are no longer required
My view is probably on this occasion the latter of the above however I would have preferred to still be getting higher volumes of results during 2022. Although last nights were very decent I would like to think we have more than 3 or 4 to report at future intervals
GLA MFU
Hi TT thanks for this
I am curious as to why 12 months ago we had 11 rigs spinning and I am sure SD early in his tenure alluded to 12 being expected. Why is it at such a critical point in proving up have NCM reduced the number of rigs by nearly 50% when so much at Telfer etc depends on it ? Is it yet another tactic by NCM to slow up GGP's value growth coupled with removing interim results and deferring the original MRE2 upgrade or are we heading to a point where NCM have the bulk of the information they need to launch the project/prepare for the DFS in Q4 so not needing to spend on as many rigs ?
Thoughts on this would be appreciated
GLA MFU
As a result of an exponential increase in the POG and an exponential increase in the losses made by our undercover shorters and an exponential increase in the previously undisclosed and suppressed resource at Havieron NCM regrets to advise it has had to withdraw from the purchase of 5% from GGP.
Gooday
My word of the week. :))
If I had a tshirt made and was able to get to Stroud I think that would be my choice! Cool
Ps so frustrating my missus is visiting close friends in Lydney in the Forest of Dean and but for pesky work commitments would love to have joined up
Have a great week all Greatlanders and keep praying for the people of Ukraine
MFU
''I wonder how many PI's would sell @ 40p+ and move on?''
Zoros that's an excellent and thought provoking post. 12 months ago I like many here would have strongly rejected but have to say the opportunity to triple the old pension pot by the end of 2022 and say goodbye to the corrupt shenanigans of Aim JPM et all does have appeal.
Gla Greatlanders
MFU
Hi Rotherby very good point. In fact I remember in 2020 through the Covid crisis we significantly outperformed the market. Like SD has shown this week when the going gets tough....
GLA Greatlanders
MFU