RE: “Rumour” or facts3 Sep 2024 14:22
Re: Deal done - and set to release
Post by Hydrogen » Tue Sep 03, 2024 1:55 pm
I am most interested in what Shaun Day has to say.
The problem has always been that Shaun couldn't really speak to the full truth, or say what he believed or thought of Havieron and what he thought it was capable of producing 'on the record' because, obviously such comments would fly so severely in the face of existing published Newcrest documentation, and that would totally undermine his position of authority and create severe uncertainty and massive problems politically additionally.
Essentially IMO almost everything Shaun said, was said with significant nuance. And it was only when it was forced out of him - ie that he had no choice, but to confirm things publicly (such as the presence of potentially economic concentrations of nickel in the Eastern Breccia at Depth) that he was able to confirm of deny some of this.
There is a reason that PhDs are being written on the Genesis of Havieron.
Ultimately, as the Money of Mine guys quite rightly observed, being the non-controlling junior partner in a JV such as Havieron can have very negative consequences , if your partner isn't willing to play fair and act in good faith.
Sadly, that is exactly the position we found ourselves in. Again, not one that Shaun could ever discuss publicly, as it would obviously hurt the share price.
Shaun said to me 'GGP is the Hare and Newcrest is the wolf'. And 'Its only a matter of time.. before they eat us'. That said - No-one predicted the curved ball of Newmont.
This is why the future is so bright... People in the know can see that Havieron is massive - 8.4moz and counting - but something doesn't make sense given NCM reports. Unless one appreciates the gamesmanship that have been undertaken to this point.
Finally the truth can be unveiled...
I certainly don't think Wyloo invested $30m into GGP for their share ( 8.5% ) of 30% of 8.4moz do you? ie 214 200 oz (that's circa $43m worth of gold after the cost of production) - do you?
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