Member Info for theiceberg

The reason for the bid isn't to own cgp. It's to flush out any potential bidders for CGP and trigger their dilution protection and but I am not sure on this stop them selling of their assets i.e solg shares which I don't think they can legally sell once a bid has come in. It also makes it more difficult for anybody to low ball bid for solg
Also I don't think it was a coincidence that newcrest director quit and then we have the bid.

Zero chance of this going through, unless solg shares appreciate over the coming months. I laughed out loud in the car when i read it.it will be interesting to see CGPs response. That will be a good laugh as well.
I am not complaining about solg here as this is a corker of a strategy no doubt developed by citi.

No way in the world this will be accepted imo.
Its about teasing out the dilution protection that cgp have and then destroying them post dfs.
This is beating cgp to death with no effort.

There wouldn't have been a negotiation...it's standard practice to have a seat some companies take it up some dont. It nothing to do with wanting information it's to do with (why the f did my spell check change that to breastfeeding protestors) newcrest wanting somebody they trust on the board to ensure that nothing underhand is happening such as made up drill results. The newcrest director will just make sure the company is on the straight and open. I have seen this kind of relationship hundreds of times but I have never seen an agreement reached where insider info can be given to a large shareholder due to a director ship. Indeed I can't see how it could be legal under UK law, where the director has to work for all shareholders and cannot legally make money from it bar normal salary etc.
interesting discussion but my suggestion is ask solg the question, unless I see evidence that this can legally happen I won't be including it in my thinking ditto the comment that keeps surfacing on here that BHP are unhappy as their is zero evidence for that. :)

I thought I should finish on a positive note.
The price increase in copper and silver has been really strong since mre3. Gold is continuing its high ride. None of this is unexpected but it’s a welcome present wrapped in a bow if your looking for streaming deals.

A whole 5 years. Blimey. A whole 5 years with an 80% success trading rate and you still try and sell your charts.
Anyway I’ll just take my working in an an investment bank all the way back since 2000 and wish you a good night of horse flogging. Ta ta.

swazers. I just find you aggressive and a liar. If your right 80% of the time then you would be a millionaire and not on a BB trying to flog your charts. your just one of thousand fools who think you have a system to beat the system, that doesn't require research and knowledge. Lull in the idiots, my advice is go back to selling double glazing to the over 60's who don't need it.

Thank you red there is no way in the world that Nick would allow newcrest access to whatever info they wanted..The director is there for solg and no other purpose...it would be against UK law

Books completely changed and the price gone to 21p to buy anything of size

Just to repeat there is no evidence none zip nothing. That BHP are unhappy or that Nick is somehow deliberately annoying them. They might a very open and honest relationship and might be thinking , fair play to solg. We don't know.

Addict. We will have to agree to disagree, it's meaningless anyway as he couldn't discuss any none public information with newcrest or anybody else even if he did personally have access.

Re directors, the law is as always confusing, however the principle is that the right to inspect only applies in order to enable the director to carry out his duties.
If as would be almost certain the newcrest director had set duties the law, it would be difficult for him to see something unrelated to that, unless the director thought that the company wasn't doing what the directors asked them to do, or doing something illegal. The newcrest director could not request information that would be of benefit to his other director duties or which he could benefit from.

Re warren irwin, its frankly insane to even suggest he knows what Newcrest and Bhp are planning on doing. it would be insider info and why would a small fund manager in Canada know what two Aus. companys are doing?
Hes lost a lot of money in the last 24 months and has been selling out of CGP after SOLG didn't make their bid. Like most fund managers he likes to blame others when he loses money.

People keep dumping BHP in with newcrest. But this is misleading imo...there is no evidence that BHP are unhappy with any part of the relationship.
Also directors don't legally need access to everything...directors have areas of responsibility and have access to that information legally..

No he isn't still here...I called for either the chairman and or CEO to resign in an open letter, no response so I sold. No complaining..it was pretty neutral in the end price wise. I might buy in again after the next placement, but I've got no intention on trying to talk the price down to do that...not my style.
Good luck investors.

Yes. Every other mine inc FDN is open pit. Open isn't a problem per se..it's down to where it's located and how big.
For example an open pit where the resource starts at say 10m is much much smaller than an open pit that starts at the 100m due to the angle of the sides for the pit and H and S. You've also got the tailings problem which is much smaller with higher grade project and or near surface.
The drill targets are fall into the category of good potential open pit imo. But again one for a q@a to answer. As per regional rns update all the projects could be operating before cascabel.
Cascabel as a template could refer to the community engagement, eis govt coop etc.

Cascabel won't be template imo..it's a pain in the arse needing the block caving. It's pushed up capex massively and takes longer to get to production.
As per my last post...all three drill targets have been chosen as they are at surface. Have gold credits for offtakes. And capex would be in the region of 300-400m ..far far less.
Cascabel is an amazing project but not a template for any company in solgs position imo.

Missed a bit..from all the targets they will know from xrf and visuals what they have within 1-2 days of drilling. So I would expect some very quick tasty visuals.

Something to throw out there .
Doing a bit of digging into the 3 new regionals.
Below is the saw sample pre cascabel drill from 7 years ago.
The best results were 34.35m grading 0.46% copper, 0.19 g/t gold and 6.97m grading 1.07% copper, 0.45 g/t gold (Table 1).
How we have the saw sample from Porvenir at the announced drill location site.
147.83m @ 0.64% CuEq (0.43 g/t Au, 0.37% Cu). This intercept is open-ended.
• Including 82.63m @ 0.96% CuEq (0.71 g/t Au, 0.55% Cu).

What's interest for me is how much better the gold grades are at porvenir than cascabel. Target 15 at POR is also pretty recent and I imagine they jumped out of their skins at those gold grades. Also the holes at at max 400\500m atm so a higher grade cascabel at surface. It might go deeper but plan is easily low cost open pit.

Now moving to la hueca.
An interesting bit here are the surface B type stockworks. They occur at high grade to sit at the top of the intrusion, again imo gold bearing near surface with a potential high grade copper monster underneath.

Finally Blanca a pure gold play. with its bulk trades at up to 6g. Obviously more in the veins, but with a reasonable length avg.

So all of the chosen targets have been chosen for an initial gold bonanza imo.all near surface, all cheap to extract. Obviously pointing to a secondary strategy beyond cascabel.

I really don't have much geo experience a degree, but only a bit of field work before I went into banking and investment banking. Without having detailed field results its estimation work at best, by anybody.