Member Info for TalkingSense

material stroke = master stroke

I'd be happy for 30%.
Cannot see 50/50.
Anything above 30/70 would be a material stroke.
Also the expense liability split moving forward for proving the resource and setting up the Creseick mining operations will impact the %s.

All the while we will continue to prove up Bailieston and keep that 100% owned...unless a VERY good offer comes in.

and you can now add another £1.1 on top of the bank balance so now c£4m :-)

The other thing we know about Creswick from the recent interview is is that the technical DD was very favourable.

Now we are just waiting to hear what the JV offer will be/ was and if it is acceptable.

Trumpy, You probably need someone with ore geological knowledge than myself to answer that one.

My laymen's answer would be that our license covers 7kn of the DMS and the drilling programme so far has shown decent grades (and in the recent interview Craig stated that we had discovered a potential new target at Creswick), He has also stated that there is up to $8BN of gold and that Newmont are "very keen" on Creswick.
I'm sure that there is a geological reason why this portion of the DMS is so attractive, but I thing the short answer is:
"There is gold in them there hills!"

Hi Trumpy, Mining licenses timelines seem to vary a lot , however Victoria has said it is trying to speed up the licensing process to encourage more exploration (and income for them down the road).
If we had a JV in place for the main Creswick license and we did on=btain one that extended the DMS that we hold then this would be subject to separate negotiations which could end in a standalone agreement ...this could effectively treat it all as one agreement if it is with the same JV partner (that would be part of the negotiations)

Yes, GWMO has fallen on the RNS...not a positive reaction.
I'll stick with the share in the blue today.

A buy out would be further down the road once the resource is proven up to a high degree....if it ever happens, so not on the radar at the moment.
Am I the only one with a feeling we could do a +15- 20% day tomorrow and bounce back up to 3.6 - 4p range...just a gut feel.

Thanks
Mysticsense

Sorry, thought you were referring to the Bailieston offers with the WA reference.

Newmont's Australia office is in WA and Craig has previously stated in an interview the 3rd largest mining company (Newmont) is interested in Creswick

I've never picked up the 'major from WA' offer...would like to see the source for that.
The two previous offers that were rejected were for Bailieston.
I think CB really wants to go it alone on Bailieston as he has mentioned that a couple of the areas have "Fosterville like" attributes, and he nearly wets himself every time he mentions Fosterville "printing money".
I get the feeling he would only JV Bailieston if an exceptional offer came in.

Creswick is a big beats (Craig said could hold $8BN of gold) and too large to go it alone so is the obvious choice for a JV.

I think I worked it out to be 750-760m so we have pretty much exhausted them ...with just a few stragglers.
It's a rough calculation as some of the info is not that clear with the block bookings.
That's if my maths is correct....and some on this board would say that my logic is 2+2=5 sometimes ;-o

I believe the majority of the 55m has been forward sold and the remainder will go over the next week (either in to the market or en mass to ii via the new broker).
If either of these is correct we should get another holding RNS by the end of next week.....if not we know they are holding their shares.

c3m shares delayed reporting just popped up from between 8:40 and 9:50 this morning

Warrants being flipped and NT to buy does not fit?

Thanks TG.
Poor choice of words from me.
I meant that the 30-40% is probably much higher given the debt, increased costs due to COVID-19 requirements and inevitable higher fuel costs once the world gets nearer to 'normal.
Agree with your points below that this will require patience as I think the debt schedule at the moment is up to 2027.

£187k of late reported trades

The question is how much cashflow above do they need to generate to service $12bn+ of debt repayment.
The 'old' break even figure is irrelevant now.

Just to clarify we can go it alone on Creswick for the short/mid term , but the finance required would not be possible for the company to fully prove it all up so a JV partner will be required at some point.

js,
Creswick is viable to go it alone, but this would take a lot of time to fully prove up 7km (+ the new find) of resource and would prove expensive. If a JV is not done in the short term at Creswick we can start to prove the resource up further and this would increase the value of the license by de-risking it for any potential investor.

As far as Bailieston is concerned I think it was pretty obvious from the latest interview that Craig wants to move towards production at HR3 (he literally listed all the stages required to get to production) with a view to generating enough capital to mine other areas of the license, with Blue Moon being the crown jewel. HR3 would be less expensive to mine than BM , but would provide the required capital.

The preferred solution short term is a JV @ Creswick which will re-rate the company , while proving up HR3 (also increasing the SP). A JORC compliant resource @ HR3 and a larger mcap makes raising finance at better rates or fund raising at a smaller dilution possible.

Possible timeline:
JV Creswick
Prove up HR3
Creswick is turned to swiss cheese by partner and proven up / plan for production
Raise capital to fund mining at one/both
Mine HR3 and/or Creswick raising capital stream
Move on to Blue Moon
Rinse & repeat for other licenses (while obtaining new one's increasing the footprint of Creswick/Bailieston)

Trumpy, In Craig's latest interview he did confirm that one party did complete a DD visit in the week before Christmas (It's not clear if the other party had managed an in state DD visit earlier in the year).
He also made a point in the interview to state that the technical DD results were very favourable.

Given the 'very favourable' technical results you would expect an offer to be received.