The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Our 25% of Hav looks like being a cash cow and exactly why SD sees it as being the platform on which to creat a multi-million $ precious metals production company.
Counting down till commencement of production in 2023 GLA
The fact they took their short over the 0.5% declaration limit and came out from the shadows, might have been tactical, to introduce additional fear and force a further sell off.
What it did do in IMO is galvanise LTH’s determination to hold onto their shares and stay until the end game.
The recent SD interview for me also cements that strategy in my mind, I’m here till first gold or buy out at FMV. GLA
What’s the current position with the JPM short. Think 0.5% was declared, so assume that’s c20m shares.
Would they run the risk of a decent resource upgrade in the MRE2 or agreement of the 5% landing in Feb or will they look to close before then to mitigate their exposure?
SD sounded very reluctant to sell 5% of Hav, let alone our remaining 30% interest, in yesterday’s interview, unless there was a significant offer tabled which reflected FMV.
Any offer for me would have to reflect the potential for Hav to contain +20moz as that’s where we look to be heading.
Aquakidd - you say the same thing every time the SP increases! “Wouldn’t buy into the rise”. There are plenty of catalysts for the SP to rerate, not just the 5%. we continue to deliver outstanding drill results, the resource is open in all directions and looks likely to be +20oz and the clock is ticking down to production.
We look primed to start that second rise on the Lassonde Curve and with signs of instos starting to buy, if we get a TR1 then that could also light the rockets. GLA
SD stating First Gold in 2023 so he sounds confident that the decline will be complete on time. We’ll be targeting the high grade 5G/t ore so will be generative significant FCF when production commences.
Countdown to production!
GLA
Thanks Bamps very useful information on the decline.
There’s no way NCM will let completion of the decline slip by 2-3 years! Not a chance. This is their bread and butter so will make sure any delays are mitigated.
To date every aspect of the delivery of these works has been professionally managed, fast tracked and executed on programme so IMO the decline will be the same.
That’s very interesting! So Berenberg sees determination of the option price going to an independent expert. “We attribute a value of US$228mln”
Not long to wait till 5% FMV known and SP can start to reflect somewhere near true market value
The short using more juice to suppress any rise, but how long can they continue. With FMV for the 5% due in Feb, do they need to close before then, in which case they’ll need to buy back c20m shares in short order.
I think 14p for what we know we have is cheap so I’ve topped up another 50k this morning. When we’ve been drilling for well over 12months with 8 rigs and still don’t know how big HAV is then 14p looks a cheap buy in point. IMO
Timing of the additional 5% might not necessarily deliver maximum FMV for GGP but it should be a very timely injection of funds which should ensure we can fully cover all HAV capex costs up to production. Leaving us with a free carry on the remaining 25% and a relatively short lead time until we achieve first gold production. To have 25% of HAV in production, throwing off cash, with no debt and no further dilution is a result IMO