Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Jack, not sure what you’re saying - GGP were forced to be a JV partner in a Tier 1 copper/gold mine? I would change ‘forced’ to ‘allowed’, btw ;)
Long term future is everything you would want to use the HAV sale funds for (exploration), whilst still being a JV in HAV.
Zoros, my apologies - for some reason I read it as sell out Paterson tenements to fund exploration. 11pm in Dubai and on the Barossa Shiraz....
JV ‘if permitted by the major’...this should only require meeting costs, but we don’t know...
Zoros,
Disagree - that would be akin to Tymers’ big seller agreeing in January to sell his 35p shares for a minimum of 20p.
Why would GGP not just use HAV revenue to exploit other assets over the next 25 years? We won’t get our hands dirty, just write and cash cheques, it’s what non operators do. At least that’s what my message would be over the next two years if I was SD...!
Tymers, why would a large seller voluntarily take a 35%+ discount on shares agreed in Jan?
And if one large seller at 50m, that would have been finished in a matter of days, weeks max. Not a huge amount relatively speaking...
What am I missing from your theory?
I think the timeline of October to December 2020 will ultimately be seen as a turning point of the company, when all is said and done. I’ll caveat that all is in my view incredibly positive for those here for the end game and true value.
When you look at the detail surrounding the AGM and resolutions (DYOR), it’s possible that a stake in the company was going to be provided / sold to a separate company who has an interest in GGPs future.
A certain resolution was withdrawn and, frankly, large fund buying in the months leading up made the above scenario a bit more tricky - or at least that is a part of the story. Within the above timeframe, the CEO (large holding and options) abruptly left the company, a new CEO was appointed, and we had a JV and funding which could be not be viewed in a vacuum. The funding was great (a box ticked), but the JV was inconclusive...who wants what, and why. The potential in these tenements is well known via the likes of Bamps, so we can leave that out. We also now have an ex CEO (again, large holding and options) putting his thoughts forward on Twitter. This last part cannot be ignored.
We are all looking for answers to the past 8 weeks or so. Many consider it a massive sell off and want ‘news’, a SD buy, think a new tax year will continue PI pressure, or even want to compare this to SOLG.
But what if we go back to the October to December timeline, and consider that we have a JV partner who was heavily pushing for a stake of the company (for their own risk management).
I suppose my theory is that GH departure was more of a ‘push’ (or a reluctant walking away) than some might want to consider, and perhaps SD has a pretty good idea of why our market cap has been cut in half.
There’s nothing logical about the past 2 months. The company fundamentals have only gotten stronger, and that fundamental (HAV) is key to NCM future. GGP is also equally a threat, but purely due to being a target for NCM competitors; the Juri JV went some way to mitigate this threat.
We are the rarest AIM share, as 30% of what we are sitting on will end up being a generational discovery, backed by a macro environment and physical gold market which has made this the perfect storm.
How far will some go to have a piece and / or protect their own interest? I think we are seeing it..
But what do I know.
Tymers, are you saying there is a large holder who - being a large holder and understanding the assets - said ‘nah, sell all of my shares, though I will not accept anything larger than a 40% haircut’?
Folks want to look at buys v. sells and say this doesn’t make sense, but consider if the buyers and sellers are one in the same. Then it will start to make sense. Why is there no volume until a day when we breach 20p...and then a 20.5 UT.
Many seem to want news. If only we could somehow get 6 week updates from an asset which will quadruple the current market cap on its own. I wish we could somehow arrange that ‘news’.
For the poker players - when you have second nuts and your opponent raises you, you go all in. You’re not 100%, but you know ;)
Folks concerned about the UT when instead you can look at GH most recent tweet - its right there in front of us, look at GH words and the most recent news releases (GGP and NCM). I’d rather argue +/- 20m oz than 22p or 24p. And Bamps’ admittedly conservative grades..
But then again I am but a caveman, what do I know ;)