Member Info for sandgrounded

Sorry missed the last bit….

Shaun has agreed to a number of delays to the project which hasn’t helped the share price and delayed the effects of the Lassonde curve for our shareholders. That boost in the sp would have helped our ability to raise the capital much more easily.

The loans were to cover our costs up to mining and I think they were something like 260 million dollars (Australian or US dollars, I’m not sure). For us to obtain that finance we had to raise 60 million dollars I think from equity. That is for 30%. For 70%, how much more equity do we need to raise to enable that kind of finance. Not forgetting another 500 to 600 million to buy the 70% and Havieron.

I think we would be looking at 1.5 billion dollars in total, to buy them and to get up to the mining stage. So would we need to raise another 300 million dollars from equity to secure those loans?

We could afford to repay the finance on the 30% from profits generated on mining the gold, so I assume having 100% of Havieron, the profits from the whole project would pay off the costs over a certain period for getting us up to the mining stage. The extra 500 to 600 million to buy Hav/Telfer is another matter.

Is someone with deep pockets going to help the small pi or will they want to control On it for themselves?

Shaun has agreed to a number of delays to the project which hasn’t helped the share price and delayed the effects of the Lassonde curve for our shareholders.

I can’t believe I am thinking this, but I can’t stop wondering if this has all been planned by Wyloo to gain full control of Havieron.

I know it sound preposterous, but money and power in business can be very brutal for the small private investor.

They have their people on the BOD, a 15% holding in GGP, ( if they take up their options) and who knows, they have the clout to short our shares. I keep thinking of how SXX was manipulated and bought out. Could this be a similar type of situation?

We don’t have the cash to buy Havieron and will rely on loans and further equity. What if that is not forthcoming?

People wanted to hear some negatives and I know this will get shouted down, but we have to look at negatives as well as positives. Many of us have a decent amount invested here and it is worrying that we have not heard an official word yet from our CEO. He has to break his silence by Monday, otherwise the TH meeting is a waste of time as he can’t reveal anything significant, there.

Just keeping my fingers crossed that my nervousness is making me think the unthinkable.

On a contrary note, may I say After all I have written, I still will not be selling any of my shares .

Artemis are a lifestyle company for its directors and major shareholders.

Previous Rns always overstate what they have, intimating that their tenements are next to successful companies and continue onto their land by association.

Remember Gervaise Heddle talking about Had05 cores saying their was visible gold in them?

Artemis tried a similar trick, but turned out it was nothing, although a few major shareholders got out on the spike in sp.

Then we have the Lithium find next door to Artemis and next thing they have Lithium, but recent results ere very poor.

Now they are hanging onto the coattails of H@vieron, with what looks like poor results over 700 meters below surface.

Got burnt once. Wouldn’t touch them with a barge pole.

Sounds like Artemis are banging the Havieron drum to attract a new j/v partner.

Dip, I agree with your comment below…

“ I have the thought that if other parties are bidding and GGP are aware it makes sense to see what is being offered to match the highest offer Newmont negotiate”

Does anyone know if there is a bidding period, for want of a better term?

When do they call time on bids.

There is only one elephant in the room and I think that we will see a share consolidation before or at the time of an ASX listing.

Newmont May throw in the 10% of Antipa that they own into the deal along with our other j/v with them at Black Hills.

Obviously Antipa should have first refusal, but if they are strapped for cash as someone suggested on here the other day, then it would give us a toe hold in that company.

I still believe Scallywag will come good once everything is settled.

How far is Scallywag from Telfer?

Can I also throw this into the mix.

If we acquire Telfer, would the reclamation costs of restoring the mining areas back to nature be tax deductible against Havieron’s mining costs?

Great minds think alike lol! (Leave the rest of the saying out) 😂😂

My post last night was done just before I got down to sleep, but something was telling me I’d missed something. I was too tired to add it then.

Whilst I talk about finance, I think the cost of acquiring Telfer/Havieron, could be cut by offering Newmont a one or two percent Net smelting royalty. What do others think?

I should have added that if we owned both Telfer and all of Havieron, the extra 10% above costs for processing shouldn’t apply, making the all in costs much cheaper. This I believe could have an impact on the affordability of any bank finance.

I believe We have finance arranged to enable us to get to mining for our 30% of Havieron and if I remember correctly, it was said that could be repaid quickly from our 30% of the profits.

If we take control of 100% of Havieron, then we should be able to raise the finance pro rata to the present arrangement and as we would have 100% of the profits, should in theory repay the loan just as fast.

We had to raise finance as our part of the initial banking arrangement and I would expect us to have to arrange further finance for the extra 70% being purchased. Hopefully this will be done with an ASX listing and new institutional investors coming on board.

Shaun having delayed taking up the earlier banking arrangement was good foresight not only

in delaying interest payments when inflation and thus banking charges were high, but in waiting to see how the Newmont restructuring developed. Did Shaun even at that stage have an inkling that Havieron would be put up for sale?

Don’t forget, we have right of last refusal. If someone else wants to outbid us, then great, that makes our 30% that much more expensive.

I think this has been a done deal for quite some time. Shaun happy to pause the decline, MRE ( for as long as possible) and not upset the apple cart with Newmont.

Let’s see how this plays out. Good luck all holders.

Everyonesawinner I think you may be thinking of the decision to mine, where if one j/v partner didn’t vote to proceed, the other party could purchase the others share of Havieron at fair market price.

Wyloo to lend GGP the money to purchase Telfer/Havieron.

Ggp then sells 50% of Havieron to Wyloo.

A stated case has shown that this could be done and is lawful.

Interesting article generally, re NSR.

https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/investing-net-smelter-royalty-returns/

Just out of curiosity, what would a company expect to get for a 5% net smelting royalty? Anyone any knowledge of other such deals?

Do you think Newmont will take Ernest Giles as a deposit ( forgive the pun), and let us pay the remainder once we start mining. ;0)

Obviously the focus is on Havieron/Telfer, but what will happen to our J/V’s with Newmont and also with their other mining companies dotted around Western Australia?

Has anyone read or heard about those?