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I never talk about my investments particularly with my partner. We both have our own children and our finances are completely separate.
Anyway, I left a printout if the Hanam report lying around which she picked up and read cover to cover. I explained the potential rewards and risks.
To cut a long story short, she has just purchased £20k (approx 230,000 shares) this morning with her ISA allowance I have said that I want zero earache if the SP falls for any reason! I really hope I don’t regret leaving that report lying around! :-)))
ATB
Max
I’ve always thought that successful companies become real experts in their field. If you are good at something, concentrate on making yourself the best at what you do.
IMHO Greatland has been amazingly successful in its find at Havieron. Everyday it looks more likely that it has the potential to make a lot of us fairly wealthy. Yes, if a fair deal cannot be struck with Newcrest in some form of buyout then we “go mining”. In effect of course we don’t go mining at all, we just pay the experts, (NCM) to do it for us.
Personally what I think many of us would like to see is some holes in Scallywag, preferably yesterday, so that if the deal is to include all our prospects in the Paterson we get a fair offer.
It does worry me a little when people start talking about Scally as if it’s a slam dunk. It isn’t. There may be nothing worth mining down there. We need to see those cores. When some people talk about becoming a miner, it makes me think about what that would actually entail. As someone said earlier, Greatland is currently just a very small group of guys. Personally that’s the way I like it. Going mining would be hugely expensive, and seriously increase risk. The safest, cheapest and least risky way to obtain the best value from Scallywag would be to prove it up and then go for another JV with Newcrest on better terms than the current one.
I am not risk averse per se, but I like risk to be quantified, minimised and managed, IMO it’s the only way to make money out of shares.
ATB
Max
Morning Stewart
I tend to think that you are spot in with that assessment. I said in a previous post that my preference would be an offer for an acceptable offer for Hav and then to move on to Scally.
However you seldom get what you want in this world and my hunch has always been that NCM will want it all, a complete takeover. I’m not into guessing games about the final figure, but somewhere considerably less than some people expect, but enough to sweeten the pill.
NCM’s aim will be to offer just sufficient to get a deal accepted by shareholders.
ATB
Max
Been doing some heavy landscaping work in the garden this week and mulling over the events of the past few weeks.
I think there is general consensus that we are rapidly approaching an important milestone. The main question is: Are NCM about to make an offer for Hav / GGP?
IMHO it seems pretty obvious that all the evidence is pointing in that direction. Sometimes you have to stand back and look at the whole picture and what message it is giving you. So much wasted time yesterday examining GH’s minor share dealing.
At this stage in any potential deal we need to look at the sum of the messages, everything that is said will have been carefully considered for the message that it conveys.
We are in the build up to an offer. GH has said as C much as he can, “work going on behind the scenes” “obtaining the best value for shareholders”, plus the talk of raising the capital for our share of the nine development. What he is saying to NCM is, “I need a good deal for my shareholders here, if you can’t give it to them we are absolutely prepared to resist any offer and go mining with you. Is that the outcome either party wants? NCM definitely not, they don’t do joint mining ventures in Oz and want all the gold for themselves. I do not believe GH wants that outcome either.
Any offer has a baseline of the current share price, and it seems to me that GH is doing all he can to give it a boost before the offer comes, while being crystal clear to NCM, that if backed into a corner by a poor offer he is prepared to raise the capital to go mining. Yesterday’s small sale of shares is an unimportant side show. Let’s move on. Lots more upside to come imo.
DYOR etc
ATB
Max
Mr EMC2
I hope I’m on the right train, I thought this was direct service. If you get off you’ll only have to board another service to get to our destination.
I guess the only problem could be if the train breaks down, but that is such a rare occurrence. Think I’ll stick with my first class seat in this one ! :-)))
ATB
Max
Investor 6
If you are “invested”, you have clearly done zero research to ask such an obtuse question. To anyone who even knows the basics about GGP, your comment demonstrates a staggering level of ignorance.
Never mind though, back to school soon, perhaps then you’ll do your homework.
Max
Hi Paddy,
Agreed, what you describe would be the ideal situation for us, but I’m not sure that NCM will let it run that long. Sadly I still think they will make an offer that the majority will accept, sooner rather than later when the MRE is delivered, but who really knows?
Thanks for all your hard work, it is very much appreciated.
ATB
Max
Hi Coach
I think you are right on the money.
I think the most important message from all this is the urgency with which we need to get drills into Scally. Tomorrow would not be too soon.
It’s nothing to do with any immediate effect on the SP, but more the fact that we need some proof of what is down there before an offer comes. My guess is NCM will want to offer as soon as an MRE is available. The icing on the cake for them would be no drilling results from Scally, and hence quite rightly ascribing to it minimal value as part of the offer.
We need some homes in Goliath now!
Sorry to repeat some of what I said over the weekend, but to me it’s far more important than trying to estimate values of gold grades. We need evidence.
ATB
Max
Greenfool
Serious question. Do you have some advanced qualification that enables you to make these calculations with any accuracy. Do you or have you ever worked in the mining industry? I ask because it is mt understanding that these calculations are immensely complex.
Max
Hi Magic
An awesome piece of work, after all the shenanigans we’ve had this week, this is a great antidote. My guess is that you have a great career ahead of you. Did you mail it to Greatland? I think I’d share it on Gervaise Heddle’s Twitter page if I were you. Anyway thank you and well done!
ATVB
Max
Becoming a miner increases risk exponentially. It’s not going to happen. This is an exploration company. My hunch is GGP will not be around in 12 months from now, and we will all be a lot wealthier than we are now.