Member Info for SpadesAspade

Delayed trades from yesterday no doubt !

And as Charles Archer stated the other day on “The Sunday Roast”, there are at least another dozen explorers out there in the Patterson, who basically have become exploration companies searching for minerals on behalf of GGP, because where else would they get the ore processed if indeed they happened to find anything of significance. And with the tremendous amount of free cash flow GGP will be generating, they can literally go & buy anything they want.

Sounds like a plan to me !

BfdInvestor, I think this is what you need to look at for your piece of mind.

Wyloo

In connection with the Placing, Wyloo has entered into a deed of undertaking and irrevocably undertaken to vote in favour of the Resolutions at the General Meeting. Pursuant to the deed of undertaking, Wyloo has also agreed that (1) it will subscribe for a minimum of 675,111,727 Ordinary Shares, being such number of shares which will enable it to maintain its current % interest following the Placing and the issue of the Consideration Shares; (2) it will subscribe for an additional 398,385,416 Placing Shares, being such number of Placing Shares which have an aggregate value at the Placing Price equal to $25 million (subject to allocations); and (3) undertaken to Canaccord that if Canaccord is required to purchase Ordinary Shares pursuant to the underwriting, it will subscribe for up to an additional of 520,044,523 shares, to be reduced proportionally with Canaccord’s subscription and provided that the aggregate subscription price of the shares to be issued pursuant to (1), (2) and (3) does not exceed US$100 million. Following Admission and Readmission, Wyloo will, hold approximately 14.4% and 11.5% (respectively) of the Enlarged Share Capital (assuming Wyloo is allocated the $25 million referred to in (2) above in full, the Placing is taken up in full without underwriting, the Retail Offer is taken up in full; no further Ordinary Shares are issued except for the Fundraise Shares and Consideration Shares and the Paterson South Consideration Shares; and no options or warrants are exercised prior to Admission and/or Readmission).

Tembo Capital has also irrevocably undertaken to subscribe for US$50 million of Placing Shares at the Placing Price as part of the Placing and has agreed to enter into a relationship agreement with the Company pursuant to which Tembo Capital will have certain information rights and a right to participate in future fundraisings to maintain its pro rata holding. Following Admission and Readmission, Tembo Capital will, hold approximately 7.7% and 6.1% (respectively) of the Enlarged Share Capital (assuming the Placing is taken up in full, the Retail Offer is taken up in full; no further Ordinary Shares are issued except for the Fundraise Shares, Consideration Shares and the Paterson South Consideration Shares; and no options or warrants are exercised prior to Admission and/or Readmission).

Hope that helps

Manfor, are you for real. Out of the latest placing, over 5B of those shares have gone to Newmont, who are tied in for two years. Wyloo our cornerstone investor, and other institutional investors who have bought in for much higher returns than 20%.

The offer to private investors of around 140 million shares, have buy & large gone to existing shareholders, of which most have added to their existing pot, again not to sell, but to grow much much higher in value, than selling out for a quick buck. Some traders will inevitably trade them there’s no doubt, but certainly not in the quantities you are thinking.

I’m a little surprised nobody’s mentioned the fact that over 30 million shared were traded in the last half hour at around 6p, all presumably sells, but my spidey senses are telling me it could be a sign that Actus Ray could have agreed to buy back at 6p. I’ve not looked any further back at today’s trades, but it should be interesting over the next few days to see if the short position has been officially declared.

Is it me & just one or two others that can see just what a fabulous deal Shaun & the BOD’s have pulled off.

Most of you can’t seem to see the wood for the trees.

Last week we were a company with a 30% stake in a yet to be developed gold/copper mine. This week we are on the verge of becoming one of Australia’s largest producers of gold.

What all you whingers fail to see, is that just to purchase the other 70% of Havieron, never mind Telfer and everything it comes with including $476M dollars worth of gold already stockpiled, is that on pro-rata basis of 5.1M shares in issue, if you do the maths to obtain 100% of Havieron, we would end up with 17M shares (5.1 / 3 x 10 = 17). But we now only have 13B for everything, and the best part about it is, it’s fully funded.

Some people just aren’t happy !

Ace, it looks like that boomerang is coming straight back at you. MH01 is like that Big Salty to you, similar to Elmur Fudd.

"Shhh. Be vewy vewy quiet, I'm hunting wabbits", Now where’s that God dam Wabbit ?

Doozer, Freddie thinks all of us are returners as he puts it. In other words he thinks you are a reincarnation of yourself who used to post under a different moniker.

I’m just surprised that he’s never come back as Barmy Rubble !

So you honestly think I’m a pretender then Freddie 🤦‍♂️

Well I suppose that’s your prerogative I guess, but like I’ve said before, I sleep very soundly at night, and even more so knowing that this operation will be continually growing for a minimum of the next 23 years. Who’ll benefit the most from my investment ? Well that’s the Big question. Certainly not me that’s for sure, but the ones I did this for in the first instance, my family. You see Freddie it’s not all about me, me, me. I’m content with what I have, yes there’s no denying that if I’d have purchased that crystal ball from Tesco’s then thing’s could of gone even better, but unfortunately they’d all sold out by the time I’d got there. Lucky for me, I got in early before the rush started and snapped up the bargains whilst I could.

Bamps, that stockpile will keep growing until Havieron comes on line, as Newmont have agreed to only run a on one train.

We do have to pay them A$10 for every bit of ore over 6MT in ROM stock, until the date of acquisition, plus another A$25 a tonne based on what Newmont would have processed if running both trains. But from what I’ve read, and from what other companies such as Northern Star have said, mines that were bought from majors with a LOM expectation of just twelve months, are still producing 10+ years later. I’m far from the expert in the room here, that’s your job 🫵, but imo I think there’s plenty to go at until we get Havieron on stream in 2027.

Freddie how many times do you have to repeat yourself, I have stated almost as many times as the money you say I have lost, “I don’t care”.

I’m not the one running around in a white van delivering parcels to make ends meet, am I !

I’m very comfortable as I am. If I need some funds then I’ll just sell one of the houses in my portfolio, which of course I did last month and that’s why I had £80k to participate in the fundraising. What about you ?

You seem more mentally scarred over this than me, and it’s not even your money !

Why ?

After Redirons, all I’m trying to say is that what SD & the board have managed to pull off is nothing short of a miracle.

It you would’ve added up all the cost for the decline, thousands of meters of drilling to prove up Havieron. Paying back of the $50M Newcrest JV loan, the money spent on keeping Telfer in operation for the last four years etc etc etc, it would amount to a considerable more than the deal GGP have struck.

I bet my bottom dollar that since this announcement was made, Champagne corks a popping will have been the order of the day. Tomorrow’s a Monday, so it’ll be back to steering this ship in the right direction now that SD has been promoted to Captain.

MartinN, well what would you call it then ?

Newcrest/Newmont have not only included enough gold bearing ore sitting above ground to pay for the $475M deal, but have also spent hundreds of millions in the development of Havieron and hundreds of millions on the maintenance, upkeep & refurbishment of the Telfer plant, plus a guarantee that any problems occurring with the repairs they undertook on the tailings dam, they would rectify for a period.

So from at starting point of 38p, just what would our SP be if we were to have done all that work ourselves, and just how would we have funded it ?

Some of you guys will never be happy will you. Yea all harp back to the old ATH and nothing anyone says will change your thinking.

What you fail to realise is that in essence Newmont have just given everything away to us for SFA, Nada, nothing !

We have done a deal whereby it has cost $475M, but Newmont have left us with 30MT of ore to process over the next 15 months. 10MT of this is of good grade ore, and the remaining 20MT is of low grade ore. After processing they are saying there will be around 460,000 oz’s of gold equivalent obtained from it. Do the sums, the value of that gold is virtually worth the same as what we have agreed to pay for everything. It’s like buying a house for £475k and the owner says the house comes with all the contents, including a safe where there’s £475k worth of gold sovereigns in it.

I know you can’t get blood out of a stone, but some of you still think you can. 🤦‍♂️

A$500M already been spent on developing Havieron and some folk here still think us PI’s have been shafted. Go stick your head in a bucket of cold water and think again just where we would of been without SD & the BOD 🤦‍♂️

Hey Resipsa or should we call you Pepperami, “ If 40p were to be achieved, especially in the next 12 months, I’d bite my own arm off for it…”

You’re a bit of an animal 😂

https://youtu.be/z6h7arKPVuI?si=wQfKbz-az26SMBBJ

starbright, anyone can play around with figures, to distort just how bad a deal you think sd has done, and i stress you think, it’s certainly not everyone.

it’s like me saying that if gh had decided to issue 1b shares at 38p when this was absolutely flying in late 2020, he could of raised £380m or us$500m, enough to have done this same deal four years earlier. so why didn’t he ?

at the end of the day the deal is done, get over it.

we already had 5.1b shares in issue, and for that we owned 30% of a future mine. so simple maths would say that to acquire the other 70% on a pro rata basis then the share issue would have been 5.1b divide by 3, multiply by 10, equaling 17b shares, and that would’ve just been for havieron.

funny eh what you can do if you play around with figures. it’s called selective accounting ! an art very much like statistics, whereby you can produce any percentage number you like depending on the question asked.

our market cap on the day we went into suspension was 5.1b x 0.07p = £357m for 30% of havieron.

independent valuation for 5% of havieron was valued at us$60m (£46m), so on that basis the other 70% of havieron was valued at us$840m (£650m). so to not only get 100% of the farm back plus 100% of telfer, plus all the infrastructure, tarmac runway, accommodation for 1700, power station, various jv’s that newmont hold, the o’callaghans tungsten mine, the largest in australia by the way, 30m tonnes of ore, (10m tonne from the rom that’s already been mined, plus another 20m tonne of low grade ore to put through the mill.)

of that they are hoping to process 22m tonnes over the first 15months to get us off to a fast start. they’re saying it’s going to produce in the region of 374,000 oz’s au and 13,000 tonnes of cu with a predictive aisc under $1500 per oz. with the current pog, a profit of us$374m could be accomplished. 60% will be hedged, so we won’t quite get the full amount, but when you consider we’re getting all of that for us$475m which includes the us$52m we already owed as part of the newcrest jv agreement, the deal was in essence done for us$423m.

anyone who thinks we’ve been shafted needs to give their head a wobble.

mom guy’s - “it just screams of a bloody good deal, especially when you consider what you’d pay for a freaking 150,000oz producer who probably isn’t even developed yet !”

charles archer - “ is ceo shaun day a madman who has destroyed shareholder value by diluting at a huge discount ? or is he a business genius who has assembled the mining equivalent of the og avengers in order to deliver the next gold major?

the answer, in my humble view, is the latter.

the key point is that you can value 70% of havieron and all of telfer using half a dozen different methods, and greatland has acquired the assets for tens of millions of dollars less than the lowest possible valuation, provided by grant samuel.

it’s a ******* steal.”

to all you naysa

Leew & any other ii customers, why don’t you just go into your account and see how much in CASH is still in your account.

If you had £5k in there, and now there’s only £750 you know by simple maths just how many shares you were allotted.

Eg - 5000 - 750 = 4250 divide by 0.048 = 88,541 shares.

I thought you people were supposed to be clever ?

Sometimes I don’t know why I bother 🤦‍♂️

We’ve still got telephone boxes up here Fred, you know the ones, were you could stick a lolly stick in em and get a pocketful of 2p’s 😂

Oh c’mon Ace, it’s a bit of banter with just a squeeze of sarcasm added to the mix. I thought you Aussies were all about taking the P155 out of one another ?

I think you’ve been in the country too long, especially darn sarf. You need to come up north to experience proper banter as we’re not so blumming woke !