Member Info for schlemiel

PG and strudel - top stuff fellas..thanks

Yes, you can see why NCM have no need for GGP other than to buy the company and secure total access to its assets. How do you value a company like GGP operating in a 'hot spot' like the Paterson? It's a toughie

Biswas publicly declared in no uncertain terms that Havieron will 'secure the future of Telfer' and that statement was made some months ago now. Newcrest (SRK will no doubt perform the MRE) may not have an MRE but that hasn't stopped him from making such impressive, corporately important public statements...Biswas is no muppet. He knows they've found something very special indeed

'When do I sell?' is the epitaph of every investor. If you can't handle that don't get involved. Put yer money in a Building Society high interest account

There's way too many SB's for my liking..Fckin SB's all over the shop!

End of April will give us a far better idea of what we have at Havieron and that should give Heddle a far better idea of what our 30% is really worth....

Plenty of developments to come. It all seems positive at present. Let's hope it stays that way.

gp - It doesn't matter what Beetham does or indeed says. IT DOES NOT MATTER. The final share price will be dictated by others, not by Beetham

corradus - Would say that the insertion of this clause is almost akin to either inviting an offer or predicting that the probability of an offer being made is HIGH? I can't think of any other reason to include such a hugely optimistic clause in a contract...i think it's such a confident stance to adopt for fundamentally valid reasons

getting excited again..time to the press the 'feet back on the ground' button...

General Contract Clauses: Right of First Refusal : Practical Law Commercial Transactions

A generic right of first refusal (ROFR) provision that restricts a contracting party from accepting a third-party offer to enter into a specified transaction without first offering the terms proposed by the third party to the holder of the ROFR. This Standard Clause, which can be customized for different types of commercial transactions, has integrated drafting notes with important explanations and drafting tips.'

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What does this clause tell you about how confident GGP (and how 'fearful' Newcrest is that they may be pushed to one side) are about their perception of the importance of what they have under their other licences. Yes, at present it's prospective but you can see Heddle's position of strength. Does the ROF suggest Newcrest may intend to buy the entire stake of GGP's licence holding.

What exactly is being 'refused'? Is it refusal to buy or refusal to enter into a JV?
It's not the language of a JV or am I reading this incorrectly. It's the language of a seller

'corporate tension'
'first refusal'.....

optimistic language

I've never been convinced that what is written on stock chat forums has any appreciable impact on a share price unless it's the posting of an influential media article from the Mail or someone like Simon Thompson at the IC.

IMHO, people on forums can ramp, de-ramp or lie as much as they like for whatever purpose. Our job is to filter the crap from the useful.

As a minority shareholder Mr Beetham is welcome to say what he likes in the most optimistic manner possible! I for one won't criticise him for that

I've been using the boards for years. They are what they are.

I must admit though, I'd be well fxkd off with 11p for all of GGP...we need to get the price up and pronto

Mr Beetham. Please use your considerable resources to buy more shares in the open market! LOL

dt - Can Telfer processing facility accommodate Winu ore, in terms of content and volume? Will Newcrest and Rio come together in the region to dominate both exploration, discovery, exploitation and processing?

Rio have a JV with Antipa, as do Newcrest so there's an element of an understanding here though it's not formal nor I suspect cooperative, more jockeying and mirroring

I think we'll see major corporate moves over the next 6 months in this region as its prospectivity becomes more apparent

Newcrest having Telfer gives them real leverage though who knows who it will play out

How much would a stake sale of 5% in Hav actually raise? If GGP keeps 25% it needs to find capital to fund their pro rata 25% of the capex associated with development of Havieron. I don't see how Newcrest would be happy with that arrangement. Giving up 25% of the earnings and reserves from Havieron if we assume that Havieron is a massive T1 discovery isn't good business. It's not as though developing Havieron will be capex heavy either. Newcrest don't need another partner to shoulder the burden of a large capital outlay on a new mine as they have Telfer processing station already in place...in effect they DON'T NEED GGP except their remaining 25% of a world class discovery

Surely Newcrest would try and buy the whole shebang 'today', in 'one fell swoop'..

That's my thinking...it's all irrelevant musings until something concrete transpires but it's always educational to test our assumptions and our predictions

Why did Newcrest (NCM) take an equity stake in Antipa but not in GGP? Did NCM offer to take an equity stake and GGP refused?

Does GGP have on its shareholder register a majority holder who is able to block any form of opportunistic approach from NCM or indeed any other potential suitor?

Nominee shareholders are powerless so I was musing that there are holders that would band together to prevent an opportunistic approach

I've just scanned the Antipa-NCM JV and the pace of activity regarding drilling is glacial relative to NCM's activity at Havieron in terms of both expenditure and physical activity

The structure of the GGP-NCM JV. What does NCM gain by purchasing another 5% at fair market value? It takes their stake to 75% of the Hav discovery. What's the difference between 70% and 75% ? I don't understand why an extra 5% would make that much difference to NCM. So, what is the purpose of the 5% at FMV? I can't work it out cos I'm stupid......

I believe NCM will buy back their hedge on Telfer. They'll then offer to buy the 5% and the 25% (is this 25% subject to other contractual demands?). Mix the dog-shxt ore from Telfer with the delicious cream from Havieron and you've got a rejuvenated Telfer processing facility operating at max levels and exposed to the full leverage of a higher gold price, lower AISC and higher grader ore...job done for Biswas

only musings, not an invite to reply

GLA

Both parties have already agreed that the price to be paid for another 5% will be based on a 'fair market value' basis. I am assuming the FMV will be a figure determined by an independent valuation. The price to be paid is not a decision for Newcrest or indeed GGP but a price based on an independent valuation report by someone like SRK. That's my naive understanding

500k @ 6.5p

i'm sayin' nowt fella

widen that spread to crush trading...desperate MM tactic, on the back-foot

u won't believe who's on the bid...I can't say for fear of exclusion

apologies, that was egotistical. Sorry. I do not possess the power of prescience