The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Page 5 of the latest presentation gives all the figures for both Newcrest and BHP
and hence
Newcrest hold approx. 282M shares for approx. £57.5M, and hence have an average of 20.3p
BHP hold approx. 283M shares for £89.3M and hence have an average of 31p
I think you'll find the position is a post and not a person, so Newcrest can still appoint someone else to the post, if there was a clash of personalities, however in this instance Newcrest have withdrawn the services of Mr Jones, and will not probably fill the post again
Doesnt mean they can't
https://www.londonstockexchange.com/news-article/SOLG/resignation-of-director/14591282
Thanks for your insight iceberg...
If we glance back in history we can find the ppm for Escondido and then compare it with what we have initially discovered at PORVENIR
This gives some indication of PPM at Escondido
https://books.google.co.uk/books?id=H5zpCAAAQBAJ&pg=PA322&dq=discover+a+copper+mine+cu+soils+ppm+mining&hl=en&sa=X&ved=2ahUKEwiSo9Xhw5rqAhX7ShUIHWG6CzMQuwUwBXoECAMQBw#v=onepage&q=discover%20a%20copper%20mine%20cu%20soils%20ppm%20mining&f=false
If we have a look at slide 32 of the current presentation we see a massive cluster of soil samples >400 PPM of copper
http://www.solgold.com.au/wp-content/uploads/2020/06/SolGold_Corporate_Investor_JUNE22_website.pdf
So there is historical evidence that we are at the same sort of level as Escondido for Porvenir, better get those drills going Nick
Here is another link to the article if you haven't subscribed to the FT
https://dnyuz.com/2020/05/11/barrick-gold-on-the-hunt-for-copper-deals/
Aperson must notify the issuer of the percentage of its voting rights he holds as shareholder or holds or is deemed to hold through his direct or indirect holding of financial instruments falling within DTR 5.3.1R (1) (or a combination of such holdings) if the percentage of those voting rights:
(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% (or in the case of a non-UK issuer on the basis of thresholds at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%) as a result of an acquisition or disposal of shares or financial instruments falling within DTR 5.3.1 R
https://www.handbook.fca.org.uk/handbook/DTR/5/1.html
This is the paragraph from the document
Sale of Shares
Subsequent to December 31, 2019, the Company sold additional marketable securities. To April 28, 2020, the Company sold 11,279,734 shares of SolGold for total proceeds of US $2,996,808.
FTJNY if our current NPV is $4.4B to find out our current share value based on this we need to do
4.4 / 2.1 (total number of shares) = $2.10
Based on the PEA, as this is where we currently sit on the Feasility study road map, as its a good asset, so 20% = $0.42
As cornerstone own 15% of the asset, 85% of $0.42 $0.36 which is 29p, bang on the money at the moment
There are more ways to look at this, the NPV should increase in value based on the PFS and also the percentage should increase based on the timeline to Construction
Other ways to calculate the value of a resource can be found here, which works on a percentage of the resource, and if you take the resource value(measured, indicated and inferred), then that equates to approx $100B, you can then see based on 85% of ownership, this works out to be in the range £0.81 -> £1.62
This doesn’t take into account other assets in the company
https://undervaluedequity.com/mineral-deposit-value-how-to-calculate-the-potential-value-of-a-mining-project/
AKGold, this is worth a read, someone has posted it before, cant remember who, it's worth reading the whole lot, but the section at the bottom is important
How to quickly value a project based on NPV and Stage of Development
https://seekingalpha.com/article/3389945-crash-course-how-a-mine-is-made
My tea pot has been brewing more than solgold, I think i'm on the third one since NM took over
Hopefully things will pan out in the next six months or so, was hoping to retire on this, but needed over a pound a share based on 2.1bn shares in circulation
Oh well, c'est la vie
Good luck all