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Bamps, thank you. I know what you mean and yes, any MRE uplift has got to be meaningful or potentially could seized upon (by Mr Market) as underwhelming and certainly not representative of the likely ultimate extent of HAV. Whenever it comes, I think we’d all take an 8 Moz revision for the SE crescent and bits of the northern HGZ / Breccias. Patience remains the key but some positive news next week would be very welcome. GLA. Mel
Surprised (and a bit disappointed) not to see the SP advancing in anticipation of next week’s update. Results will need to be pretty spectacular to break out of this range and hold. In particular I’d love to see a bankable implied MRE published at something above the 4.2moz equivalent. Anyone think that might be included in the report or kept up SB’s sleeve? NCM must surely have completed their calcs as the initial infill drilling was stated to have been completed weeks ago. Here’s hoping. GLA. Mel
Please, can we all not call a halt to debating what GH might or might not have done with some of his shares. Its becoming tedious water under the bridge with zero bearing on how the SP is bouncing around at the moment. I would much rather hear opinions on Shaun's strategic options for growing the Company.. here's a couple of wild thoughts to change the subject.... securing enough firepower to enable GGP to meet its share of costs whilst retaining full 30% ownership of Hav (a la AZY for its 35% of Citadel - which incidently went down very well in the market). How about GGP having a tilt at AZY to create a regional exploration superpower. Or perhaps go full blast at drilling out our 100% properties.?
The one things for certain, SD surely didn't have in mind just sitting back on the Company`s HAV laurels and waiting for the pots of gold to flow in.. I fancy and hope he may be more impatient than that and has some smart moves in mind. GLA Mel
Good content and timing of its release is interesting. Slide 10; point 1 seems to indicate positive near term news (tonight perhaps?.....would be nice.) uplifting the MRE whilst switching from inferred to indicated. Excitement builds. GLA. Mel
Since the board has gone a bit Latin whilst we are in a sort of holding pattern ahead of tomorrow evening, here’s a half relevant excerpt from Cicero’s first ever political speech delivered in Rome in 66 BC....... "this whole system of credit and finance which exists here in the Forum of Rome is directly linked and bound up with money that is invested in Asia. If that is lost, then our Roman finances, too, are inevitably involved in the same process of upheaval and collapse. It is your duty, then, to prosecute the war with all the earnestness within your power. Your glorious prestige must be defended; and so must the safety of your allies. You have also got to protect your principal sources of income, and the fortunes of a large number of individual citizens--which cannot be separated from the interests of the state" .
Sorry to clutter or bore... fingers crossed for a spectacular NCM update. Mel
After some deliberation, I have voted against the resolutions. Prefer not to see any further dilution but would be happy to participate in a Rights Issue, for a compelling reason. Hoping for news next week of commencement of Juri drilling and further details of the SW programme including the assays of those remaining 4 holes. GLA. Mel
DGR, I thought that initially but here’s the thing.... “Limited disapplication of pre-emption rights (just under 5% of issued share capital) for general purposes; AND
· Limited disapplication of pre-emption rights (just under an ADDITIONAL 5% of issued share capital) in the event of financing an acquisition transaction or other capital investment” Cheers. Mel
Double my rough and ready number if max 10% (of issued share capital) exercised i.e for both general purposes and capital purposes.. personally I think I’d prefer an underwritten rights issue in which all existing shareholders can participate if they wish (followed by or accompanied by a share consolidation). Mel
For something that’s “standard practice” you have to wonder why res 5 was pulled from the AGM? Only to bring it back again now. Either the board didn’t have confidence then that it would pass or there wasn’t unanimity among directors at that time.
In rough and ready round numbers, if passed GGP could issue another 200m shares @ 25p say and raise £50m. Any number if potential investors would take up such an allocation, including our JV partner (who happens to be lending us £50m). The games definitely afoot. GLA. Mel
Don’t sweat it, no one’s taking any notice of H & P’s fine words and ludicrous DCF methodology / assumptions anyway. Quite apart from the timing of its release (on a Friday and weeks after its initial drafting), it tells us nothing we didn’t already know about GGPs prospects and true value i.e. something well north of 22p. Best can be said for it... it’s unlikely to prompt anyone to sell. Mel
Think we can all agree that something is afoot but I`ve yet to hear a compelling theory let alone facts that would explain sustained daily SP falls of this magnitude. There simply has to be a big seller or sellers operating behind the scenes. Would love to think its the opposite and a mega buyer exists but surely that's implausible. Wish I was as comfortable as you Tex. That said, I`ve some more cash waiting to buy a few more but think I`d be happier doing so after the remaining 4 SW holes are announced as that looks set to lead to more short term turbulence. GLA Mel
Actually, I think Antipa could make an excellent fit; similar established JV model (with three majors including our own partner); plus some interesting 100% owned tenements in prospective area and a market cap well within GGPs price range. Surely a deal couldn’t be ruled out. What an exploration powerhouse such a combination might become. Mel
Sorry Tom, I have to disagree with you... evidently Scallywag was priced in (by the market) to the tune of around 7p per share.
Sure its hardly been a rational or an efficient market these past few days and the Company's prospects appear sound thanks to HAV but many will have lost money and or paper profits. Not sure blaming them gets us anywhere. Mel
DSmith57, I wholeheartedly agree with you. It doesn't matter how much everyone tries to look for the positives in what has been announced and there could be some... Fact -reasons = Fact and the fact of the matter is that the GGP share price has lost significant ground as sentiment has taken a knock. Unless GH has one last surprise for us I cannot for the life of me think why he didn't wait to announce the results from all 7 drills... whatever they are, the market reaction could hardly have been more severe and no I think we have a drag against, hopefully, positive NCM drilling.
Patience and the long game is hard sometimes but now doesn't look like the time to jump ship. Had better weeks though. Mel
Out of the Shadows.. I’ve 2.5m from pre Newmont days. Would probably have sold many times since but for the quality of many contributions on this board. Planning to stick around for a while to see how things develop. Thnx