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Metal Tiger de-listed from AIM recently and their shares are held as CDI's (chess depository interests) on ASX.
Not sure about whether they can be held in ISA's, possibly depends on size of company.
Thanks Speedymeadie for your response, been out all day.
Hi Speedy
Never held any gold coins and thinking of buying some by post, you like Britts, who would be a reputable company to get a good deal from?
There are lots of opinions as to what Greatland will look like or be in the current year and next.
These are some of my thoughts
Firstly I cannot understand why Newcrest would let Havieron slip through their fingers after spending many millions to extend the life of mines poor grades at Telfer and the ongoing decline at Havieron.
NCM have always played down Havieron and continue to do so even after Newmont's advances for takeover.
GGP share price looks to have been held back for some time now (shorted) from a fairer value. This would help a major significantly in any GGP takeover. With around 5 billion shares in issue it works out about £50 million per penny so many millions can be saved when paying a premium offer from a low base.
A 50% premium on 10p is 15p and a 50% on 15p is 22.5p so it could make a saving of around £350 million from the lower base, well worth doing.
When NCM refused the extra 5% of Havieron as $60 million did not meet their hurdle requirement, (got the other 70% for not much more), was before Greatland had any serious funding in place and they possibly thought they could pick up the whole 30% for less.
If that were the case (and it might not be) Shaun Day already had a plan in place to protect GGP's asset by then raising substantial funds from Tribeca and Wyloo as backing to get debt commitment loans from 3 of Australia's largest banks for £130 million at a competitive interest rate.
He then put in place one of the strongest board of directors to grace any Australian company (who I am sure are nor there for the free ride) and intends a cross listing soon on the ASX.
What I do know is that Havieron and Telfer go hand in hand, Telfer cannot not exist beyond a couple of years without Havieron ore (grades running out after many years of mining) and there is nothing else coming on stream.
I also do not think Newmont are going away any time soon so why does NCM not declare what they really have at Havieron, and, I also do not think the likes of Wyloo will let NCM or anyone else for that matter pick up our share of Havieron on the cheap either, so I am watching with interest as things unfold.
Any other opinions welcome.
It will be a cross listing in ASX which should not affect shares held in a UK ISA.
In the ownership breakdown of GGP, the likes of Hargreaves Lansdown , Interactive investor, JIM, Barclays, Lloyds etc these companies will be holding the bulk of their shares in nominee accounts and ISAs for personal investors like yourselves and me .
The most of these shares do not belong to them, they are only custodians, so I do not see why they would have to notify an interest as the percentage would always be changing.
The main thing is that they are not in the hands of NCM and each and every holder of these shares has voting rights to use whenever they wish to exercise that option.
Having your shares in an ISA (especially if GGP goes up considerably) may save investors thousands of pounds in the future.
Jurisdiction and the markets confidence in the board of directors is most important with these types of companies.
Day to day running costs are too high here. I am only a small share holder from a previous company.
GGP has the management, jurisdiction and prospects but this is my opinion only and not advice to others.
Bruce Jack and Red Chris do not have an ailing Telfer in their vicinity which will need the Havieron ore as soon as possible, or, it will cost them millions with its low grade ore and eventually decommissioning as the alternative.
This is why Havieron is so important to NCM.
They have delayed the decision to mine as they keep finding more good grade ore at Havieron and want a bigger feed to Telfer.
Better to delay and get it right first time than regret that it could have been better.
I think we are all agreed now that the decision to mine only needs rubber stamping with what NCM have already spent on Havieron, around 1000 meters of decline already in place and more than adequate funding in place from GGP.
GGP also have the backing of Wyloo now, who, I am sure would be more than happy to take a piece of Havieron if the opportunity arose.
The prospects look so good here that there will be new orders to fill for people wanting in as cheap as possible.
This will eventually fade and less will part with their shares, but in the meantime there will be ongoing tree shakes.
The only upside is that it also gives opportunities to people like me wishing to accumulate and average down as there is now a clear path to production and a distinct possibility of finding new ore bodies.
I think this short is to shake as many PI's out as possible to give control to the bigger players who want a piece of Havieron which will possibly be one of the largest gold/copper mines in Australia.
I like many others will hang in there and add on a monthly basis averaging down, but there will be some who will not manage to do that and give up their shares.
The path is clear to production or a take over, but it has to be patient money for those who can hold their nerve.
Hi rednight
I was of the impression that SOLG was having difficulty raising money without making NCM/BHP stronger, which they would not want, but that may not be the case.
I just cannot get my head around why they cannot get funding when they have such a good find at Cascabel and first mover advantage in many other sites all over Ecuador.
I do not want to have another go.
I want the company to do well but it looks like fundraising is being controlled.
Larger companies that have a % share of SOLG may have different ideas of how the company should progress when they get seats on the board.
These are only my thoughts and are not to be taken as advice.
I hope the company rises considerably tomorrow.
Sorry assey results.
Looks to me like the company are on a care and maintenance basis.
Gone (for now) are essay results and excitement.
Cannot raise money of their own choice.
Share price falling on a daily basis.
I am still a holder but not so much now.
Whats next.?
There is nothing stopping Wyloo buying more shares on the open market now (deep pockets), instead of waiting for their 10p options later.
They could hoover up the short sells.
I presume if NCM had agreed to take $85 million for 5% from GGP, we would then have owned 35%, as we still own 30% with no money changing hands.
Damers
Hope your investment does well for you.
Did not realize I pushed you over the line, lets hope it is in a nice way as the Havieron resource grows.
Damers
My first GGP purchase was just under 14p but have averaged down to around 11.5p.
A starting buy price is much better now.
If you have the cash and GGP does fall, average down, as it will eventually rise, or any bid will be considerably higher.
Just make sure you do not need the money back out within the next 18 months.
Damers
Costs will be considerably less for GGP to mine as might only have 25% of Havieron if NCM take their option for another 5% for $60million which was offered to them in the past.
A bid could come in for either of them at any time so this is why I have both.
Looks to me like SOLG is being manipulated by their large shareholders and may find it more difficult to raise money but still hold 85% of Cascabel/Alpala which is a huge chunk of a tier 1 mine.
It is a personal feeling but I do not think in these 2 cases the big boys want partners and will eventually make a move but as they say patience is a great virtue so I will wait and see what happens.
I have added quite a bit of GGP recently as at this time I think it is better value for money at this time.
Again this is my thoughts only and not advice to others.