Member Info for Sageman

Half penny, the price has not been set . The 10th June presentation used 16p (see RNS) in the calculations as an illustrative example since events had made the initial illustrative example out of date. I have a sneaky suspicion that it will actually be circa 18.5p ( look at the calculations around the directors share options - the strike price 11.9, what was calculated as fair value (circa 18.5p) for them to sell and that they bought back at nearly the precise original strike price 11.87). I am not suggesting anything is amiss but it would all have a certain logic to it and actually 18.5p is a good price given the 29p new analyst projections.

Bojo, we all want our children to love us for us but a financial education is essential. Without it our children are ill equipped in a world where borrowing enriches the lender. I believe it is as essential as learning to read and write and both my children (18 and 20) have been well educated and regularly as me questions . The question is why is financial education not part of the curriculum? We end up with people thinking that governments have money when they have debt. People and companies have money governments only collect it and distribute it. If people realised that it was their money that governments were spending they would hold them much more closely to account. Hmmmm now you know why there is no financial education at school, lol

Hi, just to say that 50% of marriages end in divorce. Consider gifting some to a discretionary trust. The trust then is a purchaser of the house etc. From your perspective and your children it works the same but partners cannot touch it. Your money for your family not for some gold digger. This route works for amounts up to £325,000. Above that it is a chargeable lifetime transfer taxable at 20%. I have seen many angry parents distraught and dismayed having gifted to their child only to see half “stolen” on divorce.

From 1st July gold will be a Tier 1 asset for banks under Basel 3. Geopolitics aside this on its own has driven demand as central banks load up. I believe that this demand will continue. Whether this drives POG higher is for others to speculate but I believe that gold will sustain $3000 plus throughout this year. In simple terms this means that we will receive circa $1.5 (us) per day more than modelled by analysts. The timing of the gold price increase could not have been better for GGP. Had it occurred earlier Newmont would never have sold. Without Newmont we were uninteresting to many investment houses. This is what has created the unicorn opportunity for PI’S to make decent money. The ASX listing is now making ASX institutions do their sums. The herd will arrive Q3/Q4 and the MCAP will bag at least once. Enjoy

At the end of March we had 398m aussie$ with 253m free cash flow. Lots of variables but with POG higher it is not unreasonable to assume that at the end of June our cash will be circa 650m aussie$. So what you may ask? So everything! We have HAV to fund. Some analyst models had us borrowing in Q1 2025. I think that when the ASX listing was initially planned it was for capital raising. No one in 2024 could project POG at $3300. They used $2000. Similarly they modelled a short Telfer mine life and 20% lower production. This is why the sp was 4.75p. Imagine if we were already borrowing and paying 10-12% interest.

I am unsure if Telfer will 100% fund HAV but believe it will do so. However, any borrowing now will be far less, for a much shorter time and at a lower interest rate because the risk is lower. There is much comment about the valuation of other mines. When I look invariably they are saddled with debt and resultant interest costs.

I put in for some retail shares in the offer on the basis that it is a shot to nothing. I either pick them at par (in which case no harm done) or get any prevailing discount if there is one. I only applied for a few more out of curiosity than anything as I am already overweight here. GLA

AA your posts are actually accurate as per 1/1/2024. Thank you for telling the board precisely how heavily indebted Newmont looked at this as they entered 2024. 8bn in debt. Capex to fund. Mine life of Telfer 9 months. Hav not on stream until 2028. So keep 20% and walk away. Also modelling higher expenses, lower production and POG at circa $2000. Analysts were predicting Telfer borrowing in Q1 2025. What you now need to do is read this year’s RNS’s. Events on the ground have made your research horribly out of date and actually that of most analysts. That is why this is a screaming buy. I hope you don’t feel too much of a fool as you become enlightened as to just how silly your out of touch comments are!

Traders will trade. Market makers will make their money. It was ever so. However if you believe that the new status quo (in the absence of news flow be it negative or positive) will see the MCAP come ASX 100 listing in Q4 north of £5m do you care?!

Suggest you read updated corporate presentation per RNS of 10th June. The illustrative list price reflects price at 6th June - 16p. This reinforces that the sp quoted is solely illustrative. It will be market dependent.

Hi Speedy, I know it is called the Lassonde curve. The bit that is different is that the starting point is lower because the institutions have been wrong footed by the speed that events have changed thus allowing PI’s to load up. Normally PI’S get the crumbs off the table. This time we get starter, main course, pudding, cheese and biscuits , coffee and as much champagne as you can drink! This rarely happens so enjoy.

I described GGP as a Unicorn and indeed it is. A very rare case where events on the ground move too fast for the analysts especially those wedded to copious data and anti AIM and anti penny shares. Where it normally goes wrong for PI's when investing in mining, energy etc is that the discovery is made but then it needs financing. The 38p to 4.75p journey here is a classic. The money is therefore made trading. The real money is made when the cash starts to roll in. With GGP the cash was anticipated in the analysts models at $2000 - $2500. They modelled a Telfer mine life of less than a year. They modelled cash raises. They modelled production at 75% of actual. They modelled higher costs. They modelled potential HAV development issues and delays.. They didn't model POG $3300, no capital raises, Telfer mine life possibly 5-10 years, costs reducing, An ASX listing with no need for substantial dilution. The analysts are only now starting to re-work their models . 29p ? who know. What has me smiling this morning though is that like most husbands and fathers you invest money for the family. You win some, you lose some. Today my wife and kids are smiling ...worth all the money in the world! Enjoy the ride and be happy.

Has anyone managed to access the new presentation? I have tried repeatedly but can't get past the bit where you verify you are not a robot and submit. It just buffers endlessly. If anyone has been successful I would welcome knowing what new information is contained. Thanks

Hi UncleBean, I am talking about the interests of our major shareholders.

Hi Rotherby, I would be happy to attend a London, South East, East Anglia presentation. However, I will not use your GGP chat site. To do so would mean that I would have to provide my personal details. For professional reasons that could cause me problems. I suspect that this is why people are not registering,

There is no dividend due to higher rates of tax on dividends than on capital gains both here and the USA. I believe this is being prepared for sale but it has been a long time coming!

The elephant in the room is funding - loans/dilution etc. Then how long to 1st cash? Great potential but currently great risk.

POG up 42% in 12 months. transformational to the funding for HAV when combined with the longer Telfer mine life. Culpepper you ask the question about why Newmont didn't want it. Well they had 8bn debt and other projects to fund. When we went into 2024 POG had averaged under $2000 for the previous 5 years. The optics have changed. I struggle to see why you find this difficult to get your head around!!

Shaun has made it 100% clear that he is solely interested in developing our current assets. He knows that this is expensive and complex work. He used the term "laser focus". In the circumstances I see this thread as pointless. Also Telfer is a cash cow in that it throws off free cash flow at the current POG. We are using it to fund development but it doesn't make it any less of a cash cow.

Nativo consolidated solely to build the SP to dilute via future capital raises. You would expect to lose in that scenario. In contrast GPP is a cash cow wanting a listing in its home country.

I agree that no one should ever fall in love with a share as it rarely ends well. Most companies fail. Your chances of picking Apple in 1996 from the host of corporate tech failures was remote. This share is 6.5% of my portfolio (so 3 times higher than I normally allow) . I am not in love with it. My holding is based on research. A non dividend paying penny share on AIM shunned by most institutions. Very little data . Last years forecasts all done with higher costs, lower POG, and a 9 month Telfer mine life. Forecasts yet to be revised assuming that we would be borrowing in Q1. Forecasts that will be revised assuming the numbers come in . Numbers that we can work out for ourselves. Numbers that the Australians will want/need to analyse because it will be a man in listed ASX stock. Everyday the risks here reduce with strong POG and resultant cashflow. I described this as a unicorn but I do not love it. If the numbers change negatively I will reassess my holdings. GLA