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Page 66 of the latest annual report - Callum had 18m options left 9m @ 2.5p and 9m @ 3.0p so I think it's pretty safe to say that it is him who has taken his last remaining options up.
Gervaise doesn't have any options left.
ATB - Paddy
Shaun understands the position that the uncertainty around the negotiations is causing uncertainty in the market but his hands are tied for now unless he's prepared to accept the lowball 5%, which we would all be up in arms over too.
It is what it is, I can't believe we're within a whisker of single digits again after 2 years of nothing but good result after good result from Havieron. I guess the world and the macro environment has changed dramatically since then too - no more help with cash from government, bounce back loans, etc, etc.
Inflation is biting hard with some people and inevitably some folks have to cash in their investments when there are other calls on their capital.
We have been through big changes in the company also with moving from a pure explorer to a developer and eventually to a producer. There have been changes at the boardroom level with the old guard moving on or taking a back seat in Callum's case and Shaun has built his own team around him to take us on this new journey. There's always going to be a level of trepidation and uncertainty as we move through this transition phase and deal with the legacy issues left from the JVA.
Will it drop any further - who knows - if more people sell than buy then that's a given - just remember that Havieron has a PFS and an MRE2, we are 3 months away from getting the next NCM resource upgrade and then a few more months away from a FS and a decision to mine.
Havieron is going to be mined - full stop, two years ago that was still a pipe dream and now it's a reality. I can't tell you if there will be a takeover or if we will end up mining as a junior partner but regardless of what outcome it's a pretty safe bet that the SP will be well in excess of 11.2p and IMO should end up being multiples of that minimum.
I wish you all good luck whatever you chosen path - Paddy
Shame to see people selling up but let's hope the capitulation marks the bottom.
So much to look forward to here, imagine if Shaun turns around in 4 weeks time and says we can confirm we're now in good ground and the decline is ramping up to the design speed of 154m / month, imagine if he says the 400m north & south step-outs on the dolerite dyke have hit more mineralisation, imagine, imagine.
And of course if they don't hit - we still have 30% in what will be the long term saviour of Telfer.
ATB - Paddy
Nothing is being stolen from anyone - The 5% will be decided by the arbitrator and regardless of what that outcome may be, Shaun has clarified on a few occasions that any sale of the remaining 25% of Havieron will be put to the vote of shareholders.
Shaun bought shares in the placement and has options at 25p so he's underwater with his own cash also - probably more so than a lot of the PI's who have been here for years.
Value will out - there probably are PI's losing their bottle and selling up now after the 18months of constant downward pressure even with nothing but good news, will that prove to be the right course of action - only time will tell.
GLA holders - Paddy
TBF Sharky an easy mistake to make as Freddie says but if you read his post he points out that POG is going up today whereas the POG is actually going down - confusing ehhhhh.
I don't have any disciples, just a wife, 4 kids and a dog....
We're all frustrated DH - that's the nature of the game. The market wants you to get all emotional when you look at the SP and throw a tantrum and sell up regardless of the prospects here. Believe me there are days when I feel like chucking my laptop at the wall, but I re-read the RNS's, I re-listen to Shaun's confident tone, I look at the intersections & grades - it obvious to me that there's a very good reason why they are d1cking around with us.
ATB - Paddy
I currently have no funds available and I much prefer to see my investment going up than down, but absolutely nothing has happened to change my investment thesis other than the SP.
I didn't invest on the basis of the SP, so unless I hear from Shaun that something material has happened that could affect the medium / long term outcome then I won't be changing my stance.
I agree that shares are being bought up at these levels by sophisticated investors - they won't be getting any of mine....
ATB - Paddy
Wonderful news Kevin and ties in with the updates from Shaun over the past couple of interviews where he said they were getting into better ground but didn't want to celebrate too wildly until they had a couple of days/weeks without hitting bad pockets.
That will be another unknown sorted - once they start to be able to take the maximum cuts and advances every time then we should get a pretty firm date for when they will be arriving at the ore-body.
Oh dear Campbell on LinkedIn is not going to be happy to hear this :-)))
@Navarre75 - I might not post as often as 2/3 years ago but I'm here most days and haven't changed my outlook one iota. Why would I? The share price is the share price and I can't affect that anymore than Shaun can, all I can see is a Tier 1 gold / copper / ??? / ??? deposit that has multiplied in size many times over since I have been involved here and we're still only scratching the surface.
Happy days - Paddy
I think that Shaun's masterplan will definitely be to become a producer with a 100% owned asset in the future - it will take a while for that to materialise and would make sense to do somewhere that there is currently no infrastructure already - maybe somewhere that Shaun seems to be very keen to get exploring on like Ernst Giles perhaps.
I think that was implied by Shaun yesterday in the podcast when he said they were talking to other "significant" players in the region.
It would still be difficult for any other major to outbid NCM as they have the leverage of the existing infrastructure at Telfer - I don't think Shaun is in the slightest upset with NCM and I'm sure if he was in Sandeep's shoes that he would be carrying out his duties in a very similar fashion.
It's business at the end of the day - it's not personal for either CEO - they are both standing their ground and fighting their corners for their respective companies & shareholders.
GLA - Paddy
I wouldn't worry @onename - Shaun won't be letting any of what is posted on here or on Twitter worry him, I can guarantee you that.
His focus is 100% on building GGP into an outfit that that contribute meaningfully to the development of Havieron and the SP will take care of itself in due course - Happy days IMO.
ATB - Paddy
Great to see that nobody is capitulating anymore though Rup.
Most investors can now see the wood now, even through the trees and it has a kind of golden/coppery glint.
No trading or investing advice given - DYOR - Paddy
I don't think he was quite as forthright as that - he said something along the lines of talking to other "substantial" players in the region.
We know the likes of RIO, FMG & IGO are all there with JV's with Antipa so I'm sure GGP are having discussions with some or all of the above.... corporate tensions.....
ATB - Paddy
Hi Mark, Telfer in it's current configuration wouldn't be able to process the Nickel - there would need to be modifications made to the processing train to allow this.
This isn't going to be an issue short-term as the SE crescent which is to be the first ore through the dedicated train at Telfer doesn't seem to contain any significant metals apart from gold and copper. The other base metals that Shaun is referring to would be when they would be looking at the bulk mining operation which would feed the other train thereby allowing plenty of time for the modifications to be done. This is all providing there are sufficient quantities and grades available but SD must be reasonably confident to put it out there in the public domain in that podcast yesterday.
Onwards & upwards (or sideways as the case may be) - Paddy
I just wonder if Shaun is preparing the ground for releasing some indication of the other base metals contained in Havieron with the next set of interims in June?
We know that NCM have opted out of the 6 weekly updates so does that give SD a little more leeway this time around. As Bamps said there were trace elements of all sorts of metals in the MMI surveys that were conducted prior to any drilling at Havieron.
What an exciting time to be invested - waiting for the usual blow-out gold & copper intersections and grades but now also hints at other goodies to be added into the mix. Is it any wonder that Shaun is fully intent on going into arbitration with this 5% - the longer he drags this process out, the better as far as I'm concerned.
Havieron is only going one way over the coming months - it keeps on giving and giving.
GLA - Paddy
Sorry Dipp but I'm trying to transcribe those last few sentences by Shaun about the "other" opportunities that exist at Havieron - I don't think this can be emphasised TOO much. Shaun hasn't said this today without good reason - if he wasn't confident about these opportunities then he would have kept quiet - this is a significant development IMO.
"We have 20% copper - the best gold mines have copper - I love the diversification - I love the copper story and the outlet to EV's and we continue to consider base metal opportunities within Havieron - in due course we'd like to talk about perhaps other base metal opportunities at Havieron. I'm really attracted to diversification and I think Havieron brings that and in future metals which is a unique place to be. To have a combination of gold and copper and maybe some other other metals - you couldn't script a better platform"
Over to you NCM - let's see what you report in the next set of assays.........
Getting excited by developments all over again - Havieron, the gift that keeps on giving.
ATB - Paddy
Very interesting comments from Shaun at the end of the podcast when he referred to the "other" base metal opportunities that exist at Havieron.
Now I wonder what might he be referring to in those comments - might Hydro have any ideas????
ATB - Paddy