Member Info for Ricardo2019

> No - the cash reserves will likely be deployed to develop Havieron meaning we don't need additional finance.

Actually Shaun indicated at the Town Hall that he might use the finance facility even if he has enough cash because it keeps the banks happy - with the implication that keeping them happy is useful for potential future corporate opportunities.

> do we expect a dividend in the next year

Most likely not IMHO. If the gold price continues to go up then possibly some sort of announcement on dividend policy within the next 12 months for payment in a future year. We know SD is a dividends kind of guy so it's a case of not if but when. If it was more than a year away I wouldn't be shocked.

I don't expect a deal completing for OC within a year, but if it were to happen then more towards the back end. And again, just due to the nature of these deals, and SD comments on building value on this, I wouldn't be surprised if we're talking more two years than one. SD's in no rush. Plus, some talk about US Government interest in driving deals quickly, but omit to mention that there are many Tungsten opportunities globally. We aren't the only horse in the race - though our horse is one of the most promising. Our bigger picture is much more exciting than OC anyway - we don't need OC to generate excitement around this company.

All of my guesses may be wrong. I believe it's better to have lower expectations, and then be positively surprised if events move faster than expected.

Hi @ Amplenomore,

> I would much rather we were full steam ahead with both Telfer and Hav

That was certainly the strong message that Shaun gave us at the Town Hall - "laser focused" in his words I don't think you have anything to worry about on that score. OC is a back-burner, side show. A great side show of an asset, but not the focus on GGP right now. Sure, a big player might come in with a big offer that forces Shaun to be a little distracted to change things up. But SD has said that he is focused on Telfer and Havieron delivery.

It's interesting to read discussion on this, though for what type of transaction? The value we could realise for a near-term transaction of resources left in the ground is very different to that we could realise with some sort of JV, royalty, or other long term agreement. What is $1-2Bn based on - value in the ground? Before we get carried away about a huge special dividend it would be interesting to see some analytical meat on the bones.

So only 40 minutes after sending the chaser email I have just received a reply from Mark at the IR address. So worth retrying today if you didn't get one originally.

Same here. Going to send them a chaser now. I used ir@algwplc.com - is that the same one you used?

Get help for your symptoms: https://111.nhs.uk/

For years I've used AJBell for my SIPP and, for the kids, JISAs and dealing accounts. Service is always excellent. Easy to speak to a UK-based person very quickly usually. Decent mobile app.

> The shares are now jointly held with my wife, a recent change

Thanks Irish24A, You've just prompted me to do something similar that'll save me some CGT at a later date when we want to Bed & ISA some shares.

And that is a great Shaun-ism you quoted.

I could easily be on a free ride a couple of times over, but then I'd be significantly reducing potential future gains and, in my long term plan, dividend returns. So I can't bring myself to do it yet. Will reconsider that position when we're much higher.

> I assume you mean produce rather than process

Ah yes, I did.

Your thinking is much more aligned to where I thought Telfer is at the moment. When 1 million oz was mentioned I started doubting what I was remembering from previous RNSes etc. Thanks for sharing your views.

Could Telfer process a million oz a year?

Yes, and I think you are trying to imply that we're therefore excellent at producing at Telfer. And I totally agree - we have world class management in place to manage foreseeable risks. Couldn't be any better IMHO. Though sometimes things can happen that weren't foreseen or perhaps outside of their control. That's where diversification could benefit the company. Another reason I'm so excited about Shaun's plans for the Tungsten.

Oops, seems I clicked the wrong reply link and replied to the wrong thread. Sorry.

> Grow Telfer. Complete Hav and get that into steady state. And only then start looking into expansions or mergers et

It's hard to challenge this point of view. I'll throw one thing in though and suggest that we're a bit of a one trick pony right now when it comes to production. Now personally, I don't see that as a risk to company survival, more a risk to short term prospects. I.e. some future extended Telfer downtime impacts our production figures. Ideally, we'd have more than one production source.

We have a debt facility. What if an opportunity came up in the next two years to diversify our production through a (value accretative) acquisition funded by debt? Yes, that might dilute corporate focus/resources to some extent. But it would have a major potential upside.

Mixture of C & D. Invested for C so will hold everything at least until then, then reassess my current expectation that the dividends will provide D. Might sell some (as Shaun said to me, 'diversify'), but keep a lot as GGP turns into a cash machine).

Just bear in mind that the spread shown above is not always particularly accurate. Best way to check it is do a dummy trade.

The other thing with spread is it can be used to 'create' a rise or fall in SP that isn't all it seems. Fun and games eh.

Sorry Yorkie, you probably aren't. Always check the spread with AIM Shares.

Oops, my mistake. But fundamentally my point stands. That is a hell of a lot of shares, even by very diluted AIM company standards. It's an astounding amount. And also importantly, the dilution will continue in the short to medium term.

> Strange there's a sea of blue buying

Strange how that's meaningless.

Apologies for the misgendering. Don't get too many non-dudes in these parts, they usually have more sense than to hang out with a bunch of AIM losers. Welcome to the party.

Some dude looked at the 28Bn shares in circulation, the track record, and thought, yes, I'll invest in this? Okaaay....