CA - thanks2 Jun 2025 20:47
''Greatland Gold (Resources) is getting closer to its ASX listing. Long-time readers will know that I’m very bullish on what happens to GGP when this happens - on an ASX peer comparison basis, the stock is still very undervalued and I expect we will see 20p+ in the near future.
This isn’t an entirely subjective opinion - all you need to do is compare the market capitalisations, current gold production, AISC and ounces in ground to others in the same Aussie space.
It’s not rocket science.
But in the run up, there are a few interesting factoids to digest.
First was watching multiple directors and senior employees let go of nearly 500 million options at 6.64p per share - at the current share price of 14p and an intrinsic value of 7.36p per option, that’s letting go of £36.8 million at face value.
And they’re reinvesting 50% of the 6.64p payout back into GGP.
This is both unheard of and an impressive display of confidence - because while charity exists - the only reason they would do this to secure the ASX listing is if they believe it will make them even more money.
Yep.
Speaking of the ASX listing, Shaun - employing the wiles of the wiliest fox, one perhaps who has been appointed Professor of Cunning at Oxford University - has set up an entity to oversee the orderly transition of Newmont shares to the bookbuild, one in which Shaun is the sole shareholder.
Sorry chaps, no market maker shenanigans allowed here.
It was no secret that Newmont wanted out, so it’s good to see this being managed well.
One final note - today’s RetailBook offer advises that the issue price will be determined at the close of the bookbuilding process. I expect it to be oversubscribed (current shareholders get priority) - but also to be at a small discount.
Maybe not, but is is standard procedure - so while not advice, if you are thinking of adding, you may get a few more shares for your money this way.
Priority for existing shareholders is a hint at this.
Or maybe not :)''
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