Member Info for MrEMC2

Is the JV legal document with NCM agreed by Gervaise Heddle - we are hostage to that! Even then Shaun Day has that covered up to the FS.

Blurred view behind Shaun. Where was he when he did the interview? Already in London?

I would like to have the final word on this thread ha ha!

"An axiom of resource extraction is that when you dig something out of the ground, you need to find more of the same if you plan on growing the business. Three options – to explore for new resources nearby, elsewhere, or to buy someone else’s holdings – are the defining pressures whatever the producer’s size. A company’s ability to do this efficiently, safely and profitably is what separates the investable from the many also-rans".

GGP - go go go

Jerry thanks , my business studies fell short of understanding these issues in detail - but don't test me on them now!

https://www.investopedia.com/terms/a/accretiveacquisition.asp
What Is an Accretive Acquisition?

An accretive acquisition increases the acquiring company's earnings per share (EPS). Accretive acquisitions tend to be favorable for the company's market price because the price paid by the acquiring firm is lower than the boost that the new acquisition is expected to provide to the acquiring company's EPS. As a general rule, an accretive merger or acquisition occurs when the price-earnings (P/E) ratio of the acquiring firm is greater than that of the target firm.

https://www.hl.co.uk/help/funds-shares-and-other-investments/investment-trusts/introduction/what-is-net-asset-value-nav

The net asset value (NAV) is the value per share of all the assets owned by the investment trust, usually expressed as a 'per share' figure. If the holdings of an investment trust, less any debt, are worth £1 million and there are two million shares in issue, the NAV per share is 50p.

If the trust's assets increase in value, the NAV will grow, and vice versa. Growth in the NAV over time is used to measure the performance of the manager.

Back to GGP for me the bottom line is get the share price back up to 38p and the sooner the better, that way no question every PI who stays the course will be in profit. ATB everyone EMC2

Hi Jerry, is this an actual example of what you mean?

The discovery of gold at Havieron and the follow up US$65m Farm-In Agreement with Newcrest.

25 Jun 2018 HAD001 results at Havieron 1.57p approx share price: 'x' oz of gold assets continues to increase with each drilling result
12 Mar 2019 US$65m Farm-In Agreement with Newcrest to Advance Havieron 2p approx share price

number of shares went up from 2,245,201,748 to 3,549,233,658 (approx) as a result ie
increase of Shares 1,304,031,910 = 58%
Share price 1.57p to 2p increase of 0.423p = 26.94%

50,000 shares @ 1.57p = £785
50,000 shares @ 2.0p = £1,000

So dilutive (more shares) and accretive (each share is worth more) and of course it depends on one's timescale when you sell. Works fine if you buy low and sell high.

Scroll forward to present times 5,068,626,282 shares and 7.85p share price assets 30% of 6.5m oz. Questions for individuals : when & will those shareholders who have a shareholding at an average ABOVE 7.85p benefit from 30% of 6.5m oz and would any future big deal be dilutive and accretive in the same way as the example above?

ATB EMC2

Let's talk about real examples - you state whether past significant milestones were accretive or dilutive.
From RNS
6 February 2017 Placing £350k : share price 0.28p approx
total number of share 1,806,349,845
16 May 2017 & 15 Jan 2019 Ernest Giles JV with Newmont
20 Sept 2017 raised £750,000
Total number of shares 2,245,201,748
21 Jun 2018 Greatland Discovers Gold Nuggets on Maiden Field Campaign at Black Hills project: 1.14p approx
25 Jun 2018 HAD001 results at Havieron 1.57p approx
27 Jul 2018 raises £2.65 million 1.32p approx
Total number of shares 3,214,256,509
12 Mar 2019 US$65m Farm-In Agreement with Newcrest to Advance Havieron 2p approx
12 Aug 2019 Greatland Raises £4.2 million 1.68p approx
Total number of shares 3,549,233,658
30 Nov 2020 Havieron Loan Agreement secures approximately US$50m 24.74p approx
30 Nov 2020 Juri Joint Venture 25% to Newcrest
24 Aug 2021 Drilling Commences at 100% owned Scallywag 16p approx
19 Nov 2021 fund raise £11.9 million 14.95p approx
Total number of shares 4,046,547,171
4 Aug 2022 issue shares 138,981,150
25 Aug 2022 fund raise £29.7million 11.50p approx
Total number of shares 4,572,408,501
12 Sep 2022 fund raise £35m Wyloo 9.03p
28 February 2023 Total number of shares 5,068,626,282 7.85p

Hi Capsum,

Sorry I don't have any more information. I suppose there is always hope whilst the company has an ‘active’ status at Companies House (though I think it is remote). At least there is a notional value to the shares unlike some other companies where it is zero and still ‘active’. I keep and eye on the AAA board but even there the outlook expressed is unfortunately gloomy. I hope you are able to sell your shares ATB MrEMC2

Some debate about who actually sold in 2021 because at the AGM I was told it was PIs.

"3. Retail investors own most of the shares and it they that have had the most influence on the share price in 2021 - buying took it up to 38p in a thin market; and selling by those who have made lots of profits incl GH (but not me I hasten to add) was a lot for the market to absorb hence the drop in share price".

Bamps yes keep the London link as long as possible as I won't be able to fly out to Perth to attend future AGMs in person!

From RNS 8 Aug 2016

Andrew Bell, current Chairman of Greatland Gold commented: "Paul and I are delighted with the progress made by Greatland in recent months and are pleased to see the Company in a significantly strengthened and dynamic position.

We are stepping down now because in simple terms we are no longer needed. Alex, Callum and Gervaise form a balanced and cohesive management team more than capable of running this reinvigorated business.

Alex Borrelli, Chairman of Greatland Gold with effect from 14 August 2016 commented: "I am honoured to assume the role of Non-executive Chairman of Greatland Gold. In recent years the resource sector has been underfinanced and there has been little opportunity to progress exploration projects proactively. Greatland is in a robust financial position, with active exploration programmes now underway, and the desire to pursue current and new opportunities with a view to identifying a substantial mineral deposit, or deposits.

I and a few other PIs attended the AGM at the East India Club on 14 Dec 2021 . Bamps is correct it was a governance factor.

Attendees were told that there was a protest vote for resolution 2 (his re-appointment) by nominee accounts against Non Executive Directors receiving share options rather than a large margin of votes against him personally. (point 2 in my message posted 14 Dec 2021 14:02).

In Q&A sessions you can't follow up on a question/ answer whereas there is more of a two way communication at a Town Hall meeting where people can bandy about a subject with Shaun Day. It's about 50 meters between the two venues. Suppose it will depend on what the 'news' is on the morning of the 9th March. GLA

I have looked back at my post from 14 Dec 2021 - item 8 & item - my 5 report back from the AGM

8. On takeover : Company X would put a proposal to the Board ; Board would put a recommendation to shareholders - you get to vote on the Board's recommendation not the Company X bid. Board has duty to shareholders in making a decision. Given that at present retail investors are majority shareholders no certainly on how any vote would go.

So just how much has the balance moved away from retail investors? Since then Shaun indicated that at least 10% of market cap is new IIs (excluding Index etc financial institutions) and he is encouraging more to buy.

Item 5 : Shareprice then 13.85p someone (not Shaun) expressed the view after the meeting:
5. Anything over 30p is probably pie in the sky (unless we find another Havieron type discovery on our other tenements)

Only 1,662,538,893 votes were cast in the resolutions to 'save' GGP. Of course we now have the Wyloo shareholding in the mix. But think about that when considering who would accept a takeover offer and at what price.

Shaun has said several times that with a low share price [7 or 8 p is very low] we are vunerable to a take over. But most recently he also said it would need to be an 'eye watering offer' to put it to shareholders.

There is a nice reverse; the bid is 8.155p and for the moment the trades at that price are being shown as blue buys -:)

NC thought they would get the 5% for under $25m and if Gervais was still at the helm it would have been a done deal!

But he does come over to do 'business'. Let's see what questions people ask. Culpepper have you ever been to one of the town hall meetings?

It's got to be about money. What's he after?

Newcrest said "Exploration decline now progressed more than 1.5km" page 12

So more than 1.5km