Member Info for schlemiel

Finalisation of transaction

The market will now looking for real operational progress (a smooth handover and hopefully an update to confirm all is well in terms of ore processing and the plant and mine is running as it should) as the market would treat any other precious metal producer. From now on it's all about cash liquidity, cash-flow, profits, production output, gold price, grades ie all the usual metrics for success.

Day can't afford any slip ups

The banking syndicate did a site inspection before signing off on this debt deal? Surely, you would think they would have done so to make sure there's no hidden on-site problems.

This debt deal is a sign of confidence in GGP

US $2515?

Https://uk.advfn.com/stock-market/london/greatland-gold-GGP/share-news/Greatland-Gold-PLC-Debt-facilities-executed-with-banking-syndicate/95021027

Highlights

§ Syndicated Facility Agreement signed with leading Australian and international natural resource banks ANZ, HSBC and ING for A$100 million in Debt Facilities

§ Debt Facilities provide additional liquidity and flexibility for working capital requirements for the operation of the Telfer gold-copper mine, augmenting the existing equity funded working capital successfully raised in connection with the Acquisition

§ Gold price downside protection secured by the purchase of gold put options for 100,000 ounces of future Telfer gold production at a weighted average price of A$3,887.50 per ounce with expiry dates variously through to December 2025. The options are a right to deliver, but not an obligation, meaning Greatland retains all gold price upside exposure across 100% of Telfer production volumes

Background

On 10 September 2024, Greatland Gold plc (AIM:GGP; Greatland or Company) announced the acquisition of 100% ownership of the Havieron gold-copper project (Havieron), the Telfer gold-copper mine (Telfer), and other related assets and interests in the Paterson region from Newmont Corporation (NYSE:NEM) (Acquisition).

As described in the Company's admission document dated 10 September 2024, on that date Greatland entered into a legally binding commitment letter with a syndicate of banks comprising ANZ, HSBC and ING (the Banks) in respect of a A$75 million working capital facility and a A$25 million contingent instrument facility (together, the Debt Facilities) and associated hedging facilities.

Greatland is pleased to announce that it has executed a full form facility agreement and related documentation with ANZ, HSBC and ING (the Syndicated Facility Agreement), establishing the Debt Facilities.

Satisfaction of customary conditions precedent and financial close of the Debt Facilities is targeted in December 2024 following Acquisition completion, after which Greatland will be able to draw down the Debt Facilities. The conditions to financial close must be satisfied by 5 February 2025.

Syndicated Facility Agreement

Greatland Pty Ltd, Greatland Holdings Group Pty Ltd and the Company executed a Syndicated Facility Agreement and related documentation on 3 December 2024 with ANZ, HSBC and ING, in respect of the Debt Facilities. Key terms of the Syndicated Facility Agreement are as follows.

Debt facilities executed with banking syndicate

A$100 million Syndicated Facility Agreement signed with ANZ, HSBC and ING

Nm

All information is good information. Our job is to filter it, refine it and discard information that serves no purpose. The idea that MGW is a total idiot is silliness. He gets stuff wrong, he gets stuff right. S Thompson at the IC gets a lot wrong and lot right.

'Today’s announcements from Seascape confirm a fantastic farm-out of Block 2A offshore Sarawak, Malaysia to Inpex Corp whilst also landing a useful raise which will take the company through the completion of the deal and take them through to operational activity which in my view will make Seascape a hugely valuable company.

The mechanics of the twin announcements today make a great deal of sense and by releasing a good farm-out along with a raise that includes existing and new shareholders as well as a very decent injection from directors shows their confidence and giving skin in the game.

Seascape has impressed with its first rate relationships in South East Asia which have led to being awarded this very hot acreage when other, larger, more financially powerful companies may have expected to have been chosen. To have now made this strong deal with Inpex rewards the trust shown by the Government and will bring in a powerful partner whilst allowing Seascape to keep a stake in a potentially huge field and thus reward shareholders significantly.

To put this in perspective Seascape has a free carry on a huge well at no cost to them, costs are uncapped so they have no worries about costs going above budget and if the well should come in there is every chance that their 10% of a discovery could be a massive, company game-changer and that could see the company valued at a huge premium, either by the market or by one of the many E&P companies circling in the area. Also with such a good start, more deals or licences in such a good post code might be just the start for Seascape.

Readers will know that when James Menzies announced that the was establishing a long SE Asia/ short Norway policy back in June that I went all in, advising shareholders not to wait for any shilly shallying around and that a ten bagger was the very minimum from the 6p level then.

Now, having raised money at 35p my view will have to be changed as a run to 60p and that ten bagger is looking like too conservative a target. So, if the well was to come in I would expect a very minimum of 600p possibly more and so will set a shorter term target of 350p being a ten bagger from here. '

https://www.malcysblog.com/2024/12/oil-price-petrotal-seascape-sintana-and-finally/

Today's news is obviously and no doubt understandably priced-in. Let's face it, it's been flagged for weeks. We now want to see revenues (profit margins, costs, the usual metrics) and cashflow...should be interesting

I did some read stuff about electrical problems at Telfer. Not sure if Day's made reference to this rumour or if its' total tosh

Is this news priced in? God knows.

Orosur Mining

@OrosurM

The observant will note we are drilling in a reasonably small area at the moment. This is intentional - we have to know what it is before we can ask the question of how big it is. For that we need a few more pierce points into the basement fault.

Lil ol' Orosur doesnt have the financial capacity to be spraying "Hail Mary" holes in all directions. So we have to do it by the book - slow and steady.

8:25 AM · Dec 2, 2024

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B21

Good stuff...

Cameron was an idiotic Remoaner who then punished those and indeed the nation who had the temerity to vote to take this country out of the EU by unleashing mass immigration following the vote Leave victory.

Blair = turd

Cameron/ Clegg = turd

May = turd

Johnson = halfwit

Have Rockhopper given any indication as to how they intend to finance their share of the CAPEX costs to bring SL to production? RKH does remind me somewhat of GGP in that it will need to dilute in some form to finance its share of development costs.

Been following RKH for years and the future is very bright if they can hold onto a significant % of its stake when production does start though I suspect they could be taken over before then

The only potential fly in the ointment is that smelly turd Milipede

I suspect governments will start removing their silly Net Zero crap guidelines and limits regarding the sale of ICE and EV cars. This could help in some way to reversing the damage caused by the EV incursion. People don't want them, they want ICE and governments will be forced to change direction.

Drusus

Valuing metal companies is notoriously difficult, more an art form if anything. Such companies are different from the Tesco and Apple's of the world but this article is excellent in trying to explain how to go about it

https://www.cruxinvestor.com/posts/how-to-value-gold-mining-companies-in-2024-insider-tips-from-industry-experts

Lastgap

That's a very good question.