Member Info for sandgrounded

Always seems to be around this time, just before the US market opens, that we see a drop in the sp.

By my mental arithmetic around 1.9 million options have been cashed since the September half year results, which leaves 4.4 million left to cash in. ( Assuming no more options have been granted since the end of September)

It went through showing as a sell, delayed for an hour somewhere around 15.21 I think.

The gold market in the Far East opens in 30 minutes or so. Are we likely to see any reaction at the open, with what is reported to be happening with silver?

I wonder if We all asked our brokers if we could borrow some shares from the institutional funds to buy GGP stock and then sell them when the price had rocketed, whether they would agree to it?

Hmmm, thought not!

The copper grades are also very good and as a poster said a few minutes ago, it will all impact on the costs of extraction.

My answer is to a hypothetical situation. The delay in receiving the drill results is most likely down to a backlog of work and the interruption due to the Christmas holidays.

TMT, could the reason for the negotiations before the results are published, be that if the results are very good, we could be a takeover target by one of the other big gold companies?

The Juri j/ v gives us some protection from that, but if results are published similar to HAD 5, then who knows.

Thanks for your post Jet. Much appreciated. Apologies for the late reply, as I have been out doing the weekly shop with the good lady.

Tell me where I can get gold Britannia’s from.

Only joking.

Thanks to everyone who contributed to this mornings discussion. I just hope I haven’t put the dampener on this excellent board.

For those who doubt my intentions, I have held this stock since before the Newmont situation with Ernest Giles and still hold all the stock that I gave to Hydrogen when he compiled a list of owners shares, with the exception of 100k shares which I sold at 16.4p to get into a rich quick share, which as you can guess is still waiting to make me rich!
The best gains are made by holding long and strong and GGP still has plenty more left to give imho.

Finally issuing 145million shares has no financial impact on the company. Its not coming out of cash they hold, they're creating new shares.

Very good point too DGR. Thanks.

LookingatgoatS, a great answer. Many thanks.

DGR, no one is talking about bad news. It’s a discussion to take us away from the latest cars being bought etc. We all accept the 145 million has to be paid and many of us include it in the total number of shares in the company.
I am trying to discuss what is the best way for our company to benefit.

TT, we now have 2 licensed areas so would the liability be split 50/50 or more heavily towards Havieron where the chances of mining are greater?

Could we put all the liability for payment onto Havieron, leaving Scallywag with no obligations to pay?

I suppose we could do a private placing with Newcrest for the 145 million shares and give most of the money to Pacific Trends. That way we would be protecting our share price from speculation that Pacific Trends would be selling them.

Thanks Strudel, so if we decide to mine Havieron, then pay out the shares, we would have no such commitment on Scallywag should that follow the route to mining?
This opens up a lot more questions such as, what would happen if Havieron or Scallywag was put into a separate company before a decision to mine was made.
It’s all very complicated to me, I’m afraid.

“Contingent Liability?145,530,000 shares to be issued to Pacific Trends Resources Pty Ltd upon a “Decision to Mine” at Havieron (see RNS dated 26 September 2016)”

I have been thinking about the above and how both Newcrest and GGP include in their reports that a ‘decision to mine’ has not yet been made and will be taken when more information is known. I think that is prudent as we are talking approximately 50 million pounds in value to date.

However the Havieron licence as bought in 2016, is now split in two, with the mining lease for what we call Havieron as one part and the rest of the tenements not included in the j/v, which includes Scallywag, in the other.
I wondered if:-
Does this affect the agreement with Pacific Trends?
Do they get a pro- rata amount of shares for Havieron if a decision to mine is made?
Could this cause a delay in negotiations for a Scallywag j/V.

I don’t know the answers, but wondered if anyone with a legal background would like to speculate please.

Some ‘cracking’ posts this afternoon.

Come on peeps. We haven’t had the aeromagnetic results yet from the 19th August rns yet, so Scallywag is a long way down the line. ( said with tongue firmly in cheek).

Same poster as Fatty**** last night.