Member Info for schlemiel

Spot on. It's what he refuses say that's intriguing for GGP holders. In effect, it is up to us to look beyond Biswas's public comments and look for the deliberate and intended inferences

cheers fella..I am innumerate. Can you show your workings fella? I am brain-dead!

''very real potential''. If something is 'very real' it cannot be said to hold 'potential'. In effect that something ceases to hold 'potential' and becomes 'very real'. It cannot be both. Biswas is using political language to conceal his excitement about Havieron. I suppose being a CEO of a listed sometimes requires language to conceal your true commercial objectives or indeed to divert attention away from your true intentions

'Disclosure is also required if the holding in question increases or decreases through each whole percentage point over 3%'.

Interesting. May explain why Petrohunter isn't declaring changes in its shareholding though I cant' work out the mathematics of this as I am innumerate, to a degree

P-Hunter holding say = 61m for argument's sake. 982m diluted shares in FOG. PH holds a 16% stake. That's still a hefty distressed seller to shift off the book. £7m still to shift. What's 7m to someone like Origin or another gas player like Santos? It's sweet FA.

Changes in shareholding must be disclosed by anyone holding more than 3%. Petrohunter is not complying with this rule. Why?

''United Kingdom

Once a person holds more than 3% of the voting rights of a UK company whose shares are admitted to trading on a UK regulated market or a prescribed market (e.g. AIM) whether as a shareholder or through direct or indirect holding of financial instruments, that person is required under the Disclosure Guidance and Transparency Rules to disclose that interest. Disclosure is also required if the holding in question increases or decreases through each whole percentage point over 3%. The notification thresholds for a person holding an interest in a non-UK company (whose shares are admitted to trading on a regulated market and whose home state is the UK) are 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%. Notification must be made on the standard form which can be obtained from the website of the Financial Conduct Authority (the UK regulatory for these purposes) within 2 trading days in respect of UK companies and 4 trading days in respect of non-UK companies.

In the context of a public takeover, once an offer period has commenced interests and dealings in “relevant securities” need to be disclosed under the Code. Relevant securities include, among other things, target securities subject to the offer and carrying voting rights, target equity share capital and securities convertible into or having subscription rights into either of these. Options in respect of and derivatives referenced to these securities or shares are also relevant securities.

Persons subject to the Code's disclosure regime and persons with interests in 1% or more of any class of relevant securities of the target company are required to disclose details of their interests or short positions in, or rights to subscribe for, any relevant securities of the target company. The disclosure must be made no later than 12 noon on the tenth business day after the commencement of the offer period.

Disclosure of dealings in relevant securities of the target company must be made by the bidder no later than 12 noon on the business day following the date of the relevant dealing. The procurement of an irrevocable undertaking to vote in favour of an offer by the bidder and a shareholder will not amount to a dealing provided certain criteria are satisfied (although if an irrevocable undertaking is entered into prior to the commencement of the offer period this must be disclosed and is usually done so in the announcement of an firm intention to make an offer).''

Without higher gold prices Newcrest would have struggled from a financial perspective. They need high margin, high grade, high productivity reserves. Havieron will give them that.

'Newcrest boss Sandeep Biswas says rockstar explorer SolGold should raise ... the past six months, and Havieron will need to be developed within four years .'

from the afr.com article from today (regarding Solgold)....Havieron is a goer, without question.

But please GGP , sell the whole shebang to Newcrest and let them incur the capital cost of developing the mine. GGP is an explorer and the real money that's made in resource stock investing is in the initial stages of a major discovery and its expansion

'Levi Spry

Yes, thanks guys. Question's going to be on the same areas. So after Telfer, can you map out the path forward there for us? So how do we avoid the production hires in between current reserves and bringing on Havieron?

Sandeep Biswas

Well, I mean the first step is obviously taking a lot of the unit costs out of Telfer in the existing mine to make it more profitable on the reserves that's got left, depending how low that becomes. I mean, there are options for a couple more cutbacks on the surface, which we haven't committed to at this point. There's also some potential for maybe even extending the underground life by some exploration we're doing there, which may reveal some – some smaller deposits, but stuff that you can do through incremental mining.

And the other piece as you say is how do we bring Havieron on as soon as we possibly can, now. It depends what sort of mining we're looking at. I mean if you're looking at the grades there, I mean, again we've got to do a lot more drilling, but if that becomes a potentially a high grade mine, you could bring that on sooner rather than later and then bulk it out later or if you get a bulk initially, it'll take a little bit longer, there's all sorts of options we can play in that. If we just continue and we continue to find quite high-grade amongst the lower-grade stock put, if that trend continues and we'll see, then – they are the various levers we have to pull to try and prevent hiatus.'

'Daniel Morgan

Hi there, Sandeep. One of your themes in your presentation and I guess for the last few months has been exploration focus at Red Chris and also Havieron. I think in the past you've talked about what you want to get to a position of is, have you seen enough in order to put down an expiration decline and get down there and really see out drill laterally. Just wondering how closer we are if at all to that decision on either us of them.

Sandeep Biswas

Well, we obviously got to do a lot more drilling. I mean, the last thing you want to do is put a decline in the wrong place. So there's a certain amount of drilling that has to be done to make sure you position it right, but all the necessary approvals processes, again the gathering of environmental baseline data, all the things that you would need before applying for permits in both locations all that work has begun. So we're anticipating that as soon as we get enough drill results to work out where to position these declines and we can get approval of them from the two regulators would be a position to get going and look we'll have to see what the future do results indicate. But if you look at the ones we've got so far, we're feeling pretty confident.'

'Now turning to our exploration portfolio. The latest drilling results continue to expand the gold-copper mineralization at the Havieron Project located 45 kilometers east of Telfer. I refer you to our recently released drill results and I think you'll share our enthusiasm. In fact, these results have encouraged us to increase our FY 2020 exploration expenditure guidance range by $25 million. We plan to drill an additional 20,000 to 30,000 meters in the second half of the year to support the potential delivery of a resource by the end of calendar year 2020. Finding gold is hard and rare, so to get these kinds of drilling results is really exciting.'

Telfer running faster to keep still. They need a corrective solution - Yes, you do. BUY HAVIERON

'Onto Telfer, it had a tough first half and its performance was below my expectations. The site produced 192,000 ounces of gold and 7,000 tons of copper at an all-in sustaining cost of $1,380 per ounce. Early in the half year Newcrest announced a change in the operating strategy for the site, that change involved reducing the operating rate to utilize around 1.4 of the sites two trains capacity and at the same time targeting higher feed grade to improve its cash margin.

Corrective action plans are being implemented to drive an improved performance at Telfer over the next six months. Whilst Telfer recorded a negative free cash flow of $22 million, revenue losses on the gold hedge book were $33 million, this means the underlying business was free cash flow positive in the half to the tune of $11 million.'

'The grades we're seeing at Havieron are unique for this region and we're excited to progress in the accelerator evaluation of this opportunity. ' (accelerator evaluation. interesting description)

is now on the ADVFN (GGP - Proton thread). LSE limits the length of postings so obviously I couldn't post it on here

Is Mather diluting again? No wonder the share price is under pressure. It's got wind of another placing. Newcrest have blown Mather's cover in last night's Q & A session with Newcrest

Mather - just sell SOLG's stake in Cascabel and drill the crap out of the tenements ffs.

SOLG should return to its explorer roots.

SOLG is not a MINER

zoros - look at the article I just posted. It makes the same point as you and the same point others have made. Dilution crushes a stock's price. Why Mather can't sell, if there's a buyer of course, is beyond me. It comes down to ego.

I have always believed that Mather's a highly intelligent, committed and driven person and that's fine if the company you're heading is a private company as there are no shareholders to protect. But, SOLG is a listed company and therefore it's no longer about what Mather wants. He has other interests to protect,

Consider also the downward pressure of dilution fear (as per today's AFR article), political risk (Ecuador) and the hefty upfront capital costs of mining at Cascabel and all that can in a cumulative sense can damage the price.

My holding is a lot smaller than it was. I couldn't sit and watch my holding continually reduce in value. I can't afford that to happen, I just can't.

Let's hope for better news

Newcrest urges SolGold to avoid 'short term' funding fix

The explorer pursued by BHP and Newcrest Mining has been urged to avoid ''short-term fixes'' and raise funds in a way that prioritises existing shareholders and the long-term interests of its promising copper and gold project.

rest is sub..

https://www.afr.com/companies/mining/newcrest-urges-solgold-to-avoid-short-term-funding-fix-20200213-p540hs

SK - filtered..can't be arsed with idiots

CB

What are you talking about? Telfer closing? Biswas has already publicly stated Havieron will transform the future of Telfer. Jesus wept

no wonder Biswas is drilling Hav like there's no tomorrow

FOUR Half Year Highligths for the entire company and amazingly Biswas chooses to highlight === 'SIGNIFICANT MINERALISATION AT HAVIERON'

That tells its own story. Super duper!

We all love the term 'SIGNIFICANT'!!