Member Info for sandgrounded

I think there is a negative value to Telfer.

There is to be a vote re the ASX listing and Shaun is coming to London to answer the questions.

If people don’t like what they hear, they know what to do.

Thanks Bamps re 09.08 post. (10.08 BST). I stand corrected as I thought the total volume of the resource would indicate the length of mine life and thus have an effect on the MRE.

Appreciate you taking the time to explain.

Apologies. I was just on my way out to take my wife gor a hospital appointment and couldn’t get the second part to download. Here it is

7. THAT, subject to the passing of resolution 6 above, the Directors be and they are hereby generally and unconditionally empowered pursuant to section 570 of the Act to allot equity securities (as defined in section 560 of the Act) for cash pursuant to the authority conferred by resolution 6 above (or where the allotment constitutes an allotment by virtue of section 560(3) of the Act) as if section 561(1) of the Act did not apply to such allotment, provided that this power shall be limited to allotments of equity securities:

(a) in connection with an offer for equity securities (but in the case of an allotment pursuant to the authority granted under resolution 6, such power shall be limited to the allotment of equity securities in connection with an offer by way of a rights issue only), where the equity securities respectively attributable to the interests of all shareholders are proportionate as nearly as may be to the respective number of ordinary shares held or deemed to be held by them, subject to such exclusions or other arrangements as the Directors may deem necessary or expedient to deal with fractional entitlements or legal or practical problems arising under the laws of any overseas territory or the requirements of any regulatory body or stock exchange; and

(b) otherwise than pursuant to paragraph (a) above, up to an aggregate maximum nominal amount of £945,236.14,

Thanks ITT.

Here are the resolutions for the 2022 agm in relation to allotment of shares by the board. I suspect they were all passed.

Special Business

To consider and, if thought fit, pass the following resolutions which will be proposed as to Resolution 6 as an ordinary resolution and as to Resolution 7 as a special resolution.

6. THAT the directors of the Company (the “Directors”) be and are hereby generally and unconditionally authorised pursuant to section 551 of the Companies Act 2006 (the “Act”) to exercise all powers of the Company to:

(a) allot any shares in the Company and to grant rights to subscribe for or convert any security into shares in the Company up to an aggregate maximum nominal amount of £1,575,393.57;

(b) allot equity securities (as defined in section 560 of the Act) up to an aggregate nominal amount of £3,150,787.14 (such amount to be reduced by the nominal amount of any shares allotted or rights granted under paragraph (a) of this resolution 6) in connection with an offer by way of a rights issue to:

(i) the holders of ordinary shares in the Company in proportion (as nearly as may be practicable) to the respective numbers of ordinary shares held by them; and

(ii) holders of other equity securities, as required by the rights of those securities or, subject to such rights, as the directors of the Company otherwise consider necessary,

and so that the directors of the Company may impose any limits or restrictions and make any arrangements which they consider necessary or appropriate to deal with treasury shares, fractional entitlements, record dates, legal, regulatory or practical problems in or under the laws of any territory or the requirements of any regulatory body or stock exchange or any other matter.

This authority shall expire (unless renewed, varied or revoked by the Company in general meeting) at the conclusion of the next annual general meeting of the Company to be held in 2023, or if earlier, 15 months after the date of this resolution, save that the Company shall be entitled to make, prior to the expiry of such authority, any offer or agreement which would or might require shares to be allotted or rights to subscribe for or convert any security into shares to be granted after the

1

expiry of such authority and the Directors may allot shares or grant rights to subscribe for or convert securities into shares in pursuance of such offer or agreement as if the authority conferred hereby had not expired. The authority granted by this resolution shall replace all existing authorities to allot any shares in the Company and to grant rights to subscribe for or convert any security into shares in the Company previously granted to the Directors pursuant to section 551 of the Act (but without prejudice to the validity of any allotment or grant of rights already made, offered or agreed to be made pursuant to such previous authorities).

(Continued)

I thought they had. 65 jobs and a contract for parts costing 10.5 million!

If there is to be a fund raising, I think they will hold back on the news until after it is done. That way their backers will get a boost for their support, when any orders are confirmed.

“ So as we look at Telfer in the Newmont portfolio, we really want to step back and have a look at the potential of that Havieron deposit and what it might look like in terms of the life and the potential scale. “

You would expect Newmont to say this and is a good negotiating tactic. They obviously see that the Feasability study is progressing and a new MRE was promised for August. The takeover deal is only due to take place in September, so their hands are tied in any case. Newcrest can’t sell Havieron according to last nights terms of agreement. Newmont can’t decide to sell it, because they don’t own Newcrests properties until later in the year, so yes they can play the waiting game.

SAS, exactly, but the next MRE could be around 10 million, so obviously worth more.

Bamps, thanks for your reply. Yes the MRE upgrade will be used for the Feasability study, but it also increase the value of the asset. Brokers use these figures to calculate what they think the company is worth per share and set that target.

It makes sense for Newmont to hold on, as a higher mineral resource means they can ask more for it.

From a GGP shareholders perspective we would like the cost low and our sp much higher, to be able to afford to buy it.

There are many seasoned commentators saying that Telfer is too old and Havieron too small for Newmonts plans. You have to ask why are so many saying it?

I don’t think the financial markets like the tweets from the company, where no regulations apply. I think it is unprofessional from the Cyan board and needs to be addressed.

With the takeover almost there and the price agreed, is there any reason for Newcrest to hold anything back on Havieron?

On the other hand with the deal concluding after September and the MRE due in August, does Shaun want it publicised before a potential deal to buy the 70% of Havieron?

Could we see a possible postponement of the MRE?

Nothing in clause 6.2(b) or 6.2(c) restricts the ability of Newcrest or any Newcrest Group Member to take any action

taken to progress the assessment, establishment and implementation of the Newcrest Group’s Havieron Project, the Red Chris Block Cave Project, Cadia Panel Cave Project, Cadia Tailings Project and Cadia TSF4 (including as contemplated in Data Room Document 01.11.11), including determining, considering and approving studies (feasibility or otherwise), applying for, negotiating or agreeing the terms of any agreement, permit, licence, lease or authorisation, as set out in Data Room Document 01.11.11, provided that expenditures actually incurred and other actions actually taken during the Exclusivity Period are in accordance with the exception in clause 6.2(d)(18);

Consolidation, does give the shorters another opportunity.

When would the senior GDX fund start to include GGP in its index? Would it be once mining commences or after a decision to mine is made?

If it’s the latter and we get that DTM before the ASX cross listing, then our shares could rocket!

ITT, you hot in there ahead of me!

Once under the 3% holding, a shareholder doesn’t have to report his holding, so Paul Gough can continue to sell if he wants to.

Maybe he is a distressed seller, but with the news around Cyan building, it is strange if he is.

Cyan May also want to restrict news whilst the selling is going on as any large selling into good news would or could subdue the sp.

Whilst the due diligence period for the Newmont bid for Newcrest ends on May 11th, would people expect a short period of consultation between the two parties before an agreement is reached?

Maybe a chat over the weekend and present it Monday morning?

I’ve been done like a kebab with my finger typing. A donner kebab rather than a Dobbs one!

Redirons, I have just nominated Fred Donna for a community honour. After all he spends all his free time here trying to stop people losing their money with GGP.

I mean would you spend all your time on a share you don’t like?

😂😂😂