Member Info for markjphennesseyg

And some laughed at me for guessing we could get the lot for under £250m.

It could mean 500m USD though not AUD. Either way a lot lower than some estimates.

GLA

I do seem to remember there was a sunny day in Manchester May 2003. People still talk about it now 😀

Ha ha RELLIM I was just about to post…..

“As miners, we know the value of light in the darkness.

Looking forward to bright days ahead and celebrating the return of longer days.”

With that in mind, I can’t see Shaun Day coming up to see us “Northeners” in Manchester in September.😀

I’m waiting

Waiting on a sunny day

Gonna chase the clouds away

Waiting on a sunny Shaun Day

TimberTrader, Bellers and Tradedesk are all correct. Not only was Callum Baxter instrumental in the Havieron discovery he also left GGP with an extremely interesting portfolio of other assets.

GLA

I’m guessing,possibly totally incorrectly, that this is a means for Callum to have a ready made vehicle to carry out his exploration activities without the need, time, expense and hassle of starting up his own new listed company. Starvest being a fund management company rather than an exploration company amongst other reasons possibly wasn’t a suitable solution.

Interesting times ahead anyway.

GLA

All good stuff cheers.The construction of the paste plant will be a good milestone I would say, actual mining infrastructure starting to be put in place.

With thanks to Stuart and Upside 2020. https://x.com/hinds_stuart/status/1824472428724048268

I’m a bit short sighted but there’s signs on the lamp posts where I live and I think they say if you don’t tick up any dog waste you’ll be fined £200.

Obviously it’s being pumped at the moment and also under no illusions it’s very risky and highly speculative. I won’t be surprised if it doesn’t come to anything and I definitely won’t be losing a lot of money if that happens. The pay off for my small bet is on the slim chance it comes good it’ll probably multibag.

No Greatland Gold shares were harmed (or forfeited) in the making of this trade.

GLA

Ok, took a very small punt for old times sake.

Come on Callum.😀

I hope the latest rumour’s not true.I had a bet with Maximus (named after Havieron) the border collie we’d get the whole lot for under £250m. He reckoned it would be over £346.748m. It’s no wonder he got fired from his last job, useless at rounding up.

That’s the thing, do they see it as an obstacle or an opportunity?

Get where you’re coming from SAs but I think the team at GGP and their backers are well past the toddler stage. Things that seem impossible for a usual company at the stage of GGP are bread and butter to them.

GLA

Even Heinz doesn’t have enough varieties to cover all possible outcomes here. 😀

Hopefully I won’t bore anyone but just a little bit more from elsewhere on held for sale criteria. There’s a bit about potential buyers ability to obtain any necessary financing and then another section on pricing.

“5.3.1.4 Sale is probable and within one year (held for sale)

ASC 360-10-45-9(d) requires that the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year. The term “probable” refers to a future event or events “likely to occur,” which is generally considered a 75% threshold. In assessing whether a sale is probable and will be completed within one year, management should consider historical experience in closing similar sales transactions, the market in which the asset (disposal group) is being sold, potential buyers’ ability to obtain any necessary financing, the regulatory environment in which the entity operates, and any other relevant factors.”

“5.3.1.5 Actively marketed for sale at a reasonable price (held for sale)

ASC 360-10-45-9(e) requires that the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value. This is because the price at which a long-lived asset (disposal group) is being marketed is indicative of whether the entity currently has the intent and ability to sell the asset (disposal group). A market price that is reasonable in relation to fair value indicates that the asset (disposal group) is available for immediate sale, whereas a market price in excess of fair value indicates that the asset (disposal group) is not available for immediate sale, as a reporting entity may simply be “sizing the market” to ascertain interest in the asset (disposal group).”

Anyway I think it fair to say Newmont cannot simply be going through the motions, they have to show serious intent that they are cracking on with enabling a potential sale and I imagine they probably are. Amongst all this, Greatland believe they are strongly positioned.

What we do know is that Newmont have for accounting purposes already classified Telfer as held for sale. For this to be the case I believe that there has to be a reasonable expectation that the sale will be completed within 1 year and management are actively committed to finding a buyer, along with other criteria. So it is not the case that Newmont have no timeframe to reasonably try to adhere to.

https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ifrs-5-non-current-assets-held-for-sale-and-discontinued-operations.pdf?bypass=on

All I’ve ever learnt is never rule out the unexpected and only believe half of what you see and none of what you hear, other than that who knows.

GLA.

The shares should be redistributed to the people. “Power to the people”.

It’s only relevant in the event GGP wanted to sell Scallywag. If they don’t, then it doesn’t matter.

Https://www.dailymaverick.co.za/article/2024-08-01-mining-powerhouse-australia-to-tighten-up-exploration-rules/

Don’t think there is anything in there that would negatively affect GGP they probably already comply, maybe need to include a little bit more on the environmental side but that’s no big deal.

“There’s always a tendency for companies to talk up, as best they can, their investment opportunities. This code provides technical guardrails.” Anything in there to stop companies talking down their investment opportunities?😀