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GGP from 53 mins
Itāll be interesting to see just were it closes today. Now currently at $2084 oz, if Iām not mistaken Iām sure Alisdair MacLeod said once gold breaches and closes out above $2115, itās game over for the fed trying to suppress it any longer. He said once that level is broken, we should see a quick run upto $2500.
Well I suppose weāll just have to wait and see if his prediction comes true.
Thatās what Guy Faulks thought too š¤
Hey Sandgrounded, letās just hope our cases donāt end up like Rhodās
Personally I donāt think we will learn anything we donāt already know at the TH meet on Tuesday.
But what I do think though, is the reason why SD wanted this TH meet, is to spell out exactly, what he plans to do going forward, given the opportunity that has presented itself for buying back the farm.
What heās definitely not going to be saying is, weāve already struck a deal with Newmont !
This meet will obviously be a discussion on whether or not he will get the backing of the Pi ownership, and by us giving him the support, he will explain just how GGP will fund the potential purchase.
At the end of the day, Newmont are a business, and just because we have 30% interest of a JV with them, I wonāt be expecting them to be doing us any favours, as itāll just be business as usual for them, selling to the highest bidder.
Iāll admit I got my investment strategy wrong, as I never thought for one minute that anyone would of walked away from such a huge discovery, even a company the size of Newmont.
Where do we go from here, nobody knows just yet, but come 9pm next Tuesday, we should all know what path SD and his board want us to follow.
Big decisionās to be made come Wednesday morning! Do we stick or fold in this game of blind poker. We can all see that large pot of cash in the middle, but will we be able to get our hands on it ?
That is the question !
This is the original RNS regarding the debt facility.
https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xegzdjw
On 12 September 2022, Greatland Gold plc (AIM:GGP; Greatland or Company) announced that it had signed a commitment letter, including a terms sheet, for A$220 million seven-year debt and associated hedging facilities with a syndicate of leading banks: Australia and New Zealand Banking Group Limited (ANZ), HSBC Bank (HSBC) and ING Bank (Australia) (ING) (together, the Banking Syndicate) (Debt Commitment Letter). Further to this announcement, the Company is pleased to advise that it has received a Letter of Support, from the Banking Syndicate in respect of the proposed debt and associated hedging facilities (Letter of Support) which supersedes the Debt Commitment Letter.
Highlights
Ā§ Letter of Support confirms the Banking Syndicate remains fully supportive and enhances Greatland's financial flexibility
Ā§ The update saves the Company from incurring the commitment and other fees associated with the proposed A$220 million debt facilities until the Havieron Feasibility Study is finalised
Ā§ The Letter of Support in respect of the proposed A$220 million debt confirms the Banking Syndicate remains fully supportive while the Havieron Feasibility Study progresses with several value enhancing options underway to maximise value and de-risk the project
Ā§ Havieron early works including the decline development is continuing to advance, with total development now exceeding 2,025m (as at 19 April 2023)
Sandgrounded, how long have you been a holder ?
I canāt believe someone who has been commentating on GGP for as long as you have, seems to have absolutely no clue as to what GGP have negotiated with the banks. Jeez !
It was around $220M dollars, that as of yet, hasnāt been called upon. On top of that he then went back and renegotiated the terms of the loan whereby GGP wouldnāt be paying any interest back until calling for some of that cash. He also stated at the time that the loan could and would be scaled up, if needed, just in case this particular circumstance of buying back the farm ever came to fruition.
If as you say, you aināt selling, then for godās sake man, get your 5h1t together and at least find out everything about the company youāve invested in.
Until Shaun letās the cat out of the bag, anything is possible, including an SXX scenario, but I for one will give him the benefit of the doubt, that heās got everything under control.
Come next Wednesday morning, we should at least get to find out what heās got up his sleeve, so not long to wait for the ifās, butās & maybeās to be answered.
If I can wait patiently for answers, why canāt the rest of you, instead of pulling your hair out with torment.
Hey Freddie, you seem to spend a lot of time on here for someone who is supposed to be still working.
What the heck is it you do ?
Ntl101, āItās all bl..dy conjecture until the fat lady singsā.
And thatās why I choose to wait until after the final song has been sung next week at the Town Hall. Until then, once we can digest exactly what SD has to say, Iām remaining shtum, as like you say, everything Iāve read from posters who sit on both sides of the fence is just a mishmash of What ifs, butās & maybeās.
Come the 6th of March, hopefully we should all have a better understanding of which path we are about to take. Fingers crossed š¤ itās the correct one.
Sarah, as with most posts I read here, something funny always seems to jump out, and yourās was no exception.
ā No-one has the balls to question hardā
Well no surprises that applies to you also. Hopefully you donāt take offence, I just thought it was funny š
Whatās happened to all the Capitals ?
well after looking at a couple of their podcasts via youtube, they seem to me, no better than the sort of guys who write for the likes of the motley fool, simply wall street and all the otherās who havenāt done any in-depth research to what companies they write & talk about.
itās quite obvious when you watch them, that the guy with the big mouth, who thinks itās rather cool to just say the first thing that enters his head, and usually uses the sort of words youād normally expect to find at a footy game, to describe how he thinks things will pan out.
i mean the only thingās he mentioned about telfer, was that the food was ****3, and they had two effin mother ducker processing trains, that could each take 11m tonnes of ore.
not for me iām afraid, as iād rather listen & read the likes of charles archer, who gives an honest appraisal when delivering his thoughts, by recognising the negativeās as well as the positive risks associated with investing in the companies he writes about.
personally iāll wait until i hear it from the horseās mouth before trying to guess what will happen. hopefully come the 6th of march, we will have a much clearer path, than the one we are currently walking.
I think the author Rafia Tasleem needs to get up to speed, as she writes without the knowledge that Newmont have decided to sell up shop, where Telfer/Havieron is concerned.
Again another journo of the Motley Fool ilk.
Jiffy the reason why SD has always shown that low AISC attributable to GGP, is because of the high grade coming from Havieron, compared to the very low grade from Telfer.
What was it Biswas said back in 2020, something on the lines of āWe havenāt seen that sort of grade of ore at Telfer, Havieron grades are 10 x what we produce.ā or words to that effect.
Who knows at this stage what the AISC will be in reality once the ore is mixed in with Telferās. Bamps is your man for that sort of calculation. But as long as that 8000 OPVM, keeps delivering the lower down the orebody the better.
ATB
Jiffy the AISC at Telfer upto 31/12/23 was actually,
Gold = $1988 per oz
Gold equivalent ounces - other metals = $2580
A little bit north of your figures Iām afraid.
You will find these figures on pages 42 & 43 of the Newmont investor presentation, first quarter 2024 referenced below.
https://s24.q4cdn.com/382246808/files/doc_presentations/2024/Feb/25/newmont-february-2024-investor-presentation_final.pdf
Hey Jerry, āMonopsony,ā thatās got to be the word of the day.
Another one to remember for when I watch Countdown š¤
Evening Jerry, sorry for the late reply but it is a Saturday night, and Iāve just got back from dinner and a couple of drinks.
My take on whether any new owners would be obligated to take on any previous agreements with a third party is as follows.
The answer is ā it depends!
It depends on the type of sale that has or will take place.
For example, if the company is sold via a āshare saleā (I.e., the shares are bought by the new owners), the company remains the same and doesnāt change. Itās still the same legal entity that signed your contract, regardless of the share sale, which means that the contract would continue and remain in force.
If the sale is whatās known as an āasset saleā, then the buyer would only be taking over the assets, which can include contracts.
In an asset sale, the contracts could be taken over by the new owner, but to do so, youād need to enter into an assignment agreement to assign the rights and obligations to the new owner.
In an asset sale, depending on whatās been agreed, thereās no obligation in the new buyer to take on any existing contracts.
If the new owner of the assets doesnāt take on your contract, the original company you contracted with would have to terminate your agreement if they no longer required your services.
Itās worth checking the agreement for any clauses related to āassignmentā or āchange of controlā or āterminationā to see what the terms state and follow the procedure thatās set out ā for example, whether your consent is required, what the notice periods might be or if any assignment needs to be done in writing.
I will try and find out more on the subject, as my wifeās cousin is one of the partners in one of the top lawyers in London, who specialise in corporate & business law.
If anyone knows, itāll be him.
ATB
Mark I hope your correct, but going off what SD has stated regarding the negotiation of the JV by the former board, left a lot to be desired.
Letās just hope thereās no loophole in the small print, and hopefully all those Tās & Iās were crossed & dotted.
SAB, I agree, but the way some here are talking, itās up for grabs to a number of parties who are willing to open up their cheque book.