Member Info for Teotihuacan

I'd like to add my thanks to Bamps for last night's session. Highly informative and interesting as usual!

Dolphy looks interesting.

My belated thanks to Rotherby1 for organising the meeting (and for the lifts, to and from) and to Bamps21 for his detailed, instructive and interesting talk. As a fairly long-term investor (without any useful contribution to make to this forum!), this was also an enjoyable opportunity to meet fellow GGP investors and share stories. Best of luck of to all and here's to a profitable GGP future.

I was hoping for a meeting further out into the southwest (Exeter/mid or east Devon area), but the nearest planned one is at Bristol, which is doable for me. Apparently, the numbers of people interested is still low so whether the meeting will go ahead is uncertain at the moment. If you are interested, please contact Rotherby to register your interest.

I emailed the address - no reply yet.

"See Greatland Gold Chat on the Starvest Distribution thread, for more on this."

This was in reply to musicvirgins' post of 14.12 yesterday.

See Greatland Gold Chat on the Starvest Distribution thread, for more on this.

There's an annual report (dated January 2025) from the liquidators, Moorfields, detailing their expenses, available on request from Moorfields. I received a copy, and it's quite informative. and not very long. No evidence that I can see of extravagant spending! Disappointing distribution, but there you are.

For anyone invested in Starvest who has not received notification about the winding up process and distribution of Ariana shares, I received the following message from the liquidators today:

"I would confirm that the Liquidators have instructed share registrars to assist with a distribution in specie of the Ariana shares, it is hoped that this distribution will be finalised in the next 14-28 days."

Apologies for the repetition in that message, operator error.

I contacted the office of the liquidator regarding the situation of the liquidation process and received the following message:

"As detailed in the most recent report to members, the Liquidators were dealing with costs and expenses of the Liquidation prior to being able to make a final distribution to members. The final distribution will be a distribution in specie of the Ariana Resources shares. There have been insufficient cash realisations in the Liquidation to declare a cash distribution.

The Liquidators are currently liaising with the share registrars to calculate the Ariana Resources distribution and are obtaining quotes to facilitate the distribution to members.

The Liquidators are due to issue an annual report within 2 months of the anniversary date of the Liquidation, the relevant date of Liquidation being 20 December 2023. The annual report will provide a full update on the Liquidation and it is hoped, however cannot be guaranteed that the final distribution will have been made or be in progress within this time scale (February 2025).

Once the final distribution has been made to members, the Liquidation will remain open in order for the Liquidators to attend to final administrative duties."

Slightly disappointing that there's no cash distribution and that it will be a few months yet to receive the Ariana shares, but that's the situation.

I contacted the office of the liquidator regarding the situation of the liquidation process and received the following message:

"As detailed in the most recent report to members, the Liquidators were dealing with costs and expenses of the Liquidation prior to being able to make a final distribution to members. The final distribution will be a distribution in specie of the Ariana Resources shares. There have been insufficient cash realisations in the Liquidation to declare a cash distribution.

The Liquidators are currently liaising with the share registrars to calculate the Ariana Resources distribution and are obtaining quotes to facilitate the distribution to members.

The Liquidators are due to issue an annual report within 2 months of the anniversary date of the Liquidation, the relevant date of Liquidation being 20 December 2023. The annual report will provide a full update on the Liquidation and it is hoped, however cannot be guaranteed that the final distribution will have been made or be in progress within this time scale (February 2025).

Once the final distribution has been made to members, the Liquidation will remain open in order for the Liquidators to attend to final administrative duties."

Slightly disappointing that there's no cash distribution and that it will be a few months yet to receive the Ariana sharesI contacted the office of the liquidator regarding the situation of the liquidation process and received the following message:

"As detailed in the most recent report to members, the Liquidators were dealing with costs and expenses of the Liquidation prior to being able to make a final distribution to members. The final distribution will be a distribution in specie of the Ariana Resources shares. There have been insufficient cash realisations in the Liquidation to declare a cash distribution.

The Liquidators are currently liaising with the share registrars to calculate the Ariana Resources distribution and are obtaining quotes to facilitate the distribution to members.

The Liquidators are due to issue an annual report within 2 months of the anniversary date of the Liquidation, the relevant date of Liquidation being 20 December 2023. The annual report will provide a full update on the Liquidation and it is hoped, however cannot be guaranteed that the final distribution will have been made or be in progress within this time scale (February 2025).

Once the final distribution has been made to members, the Liquidation will remain open in order for the Liquidators to attend to final administrative duties."

Slightly disappointing that there's no cash distribution and that it will be a few months yet to receive the Ariana shares.

Slightly disappointing that there's no cash distribution and that it will be a few months yet to receive the Ariana shares, but that's the situation.

Thanks, I was wondering when this would finally be done. AAU shares and a payout of whatever cash is left after everything is settled ...

As the share buyback is continuing, the number of shares outstanding is being reduced. In theory, once the buyback is complete, the dividends to be paid out (eventually) should go to a smaller number of shareholders. Therefore the dividend paid out would - again theoretically - be higher than if a no share buyback had taken place. Or am I being naïve?

This is what the RNS of 27 October says:

"As part of the Liquidation it is proposed to distribute the Greatland Shares and the Ariana Shares as distributions in specie to the Shareholders, together with the surplus cash that remains in the Company, once its creditors have been paid.

Based on the current holdings of Greatland Shares and Ariana Shares, the Company believes that Greatland Shares will be distributed in a ratio of approximately 1.33 Greatland Shares for every one share of the Company and approximately 0.199 Ariana Share for every one share of the Company. In the discretion of the Board and the Proposed Liquidators, some of the share portfolio will be retained as necessary to ensure that there is sufficient cash to pay creditors and meet professional fees. This may affect the number of Greatland Shares and Ariana Shares to be distributed.

Notwithstanding any other provision, Shareholders will receive a whole number of shares and no fractional shares of Greatland or Ariana will be issued. Shares of Greatland and Ariana that remain after allocating through this procedure will be allocated by assigning one additional share of Greatland or Ariana to individual Shareholders in an order determined by the Board, until all such shares are allocated."

Resolution duly passed, RNS @ 12.39.

HL did this morning.

I thought you were referring to the Five Diggers holding. Apologies for the misunderstanding.

Thanks both for the explanation, appreciate it.

So, from memory, they had roughly 146 million shares. If so, they've sold around 7 million shares. With volume being low would that be enough to keep the share price down?