Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I would not think the 5% sale would be classed as revenue - (partial) asset sale I'd say.
I am not like SaS with £80K sitting on a fill order - but for the last 4 days I have been sitting with a £10K fill order - was 13.00 but now at 13.25 - I don't have time to sit and watch for the shomb being launched.
This was some money for energy efficiency improvements - but it would be as well in here for the 6 months until I need it.
I also think the SP is now bottomed - but I have never been a very good judge of this.
CARE - in 2018 4 tenemets were sold to GSN for $50000Au and 1 million shares in GSN.
https://www.investegate.co.uk/strategic-minerals/rns/care-gold-tenements-sale-update/201809130700026099A/
In 2017 SML bought out Rarus Shares - we were I think in JV with them - price was just over £500K but think it was supplied in SML shares - don't know if Rarus sold them when the going was good. Guess who was also on Rarus board - 1 Alan Broome. Previously we bought 50% of Care for £190000.
https://markets.ft.com/data/announce/full?dockey=1323-13215271-33R5V9KM10V8HQOMBTINTI59C8
It is very hard to find the tenement numbers - but this was first drilling results update
https://drive.google.com/file/d/1ol1qO7-eWaejVs1Trzp-4Mrrr_ch6Ff3/view
In 2020 SML released the care tenements back to WA government. Without tenement numbers hard to see if they have been taken up by another company.
CARE was another shambles from this BOD.
SaS - last 2 days I have had a fill order at 13 - also not filled. So you are not alone.
Hydrogen - 5% theory interesting - hedge or gamble - a hedge is supposed to be an investment to reduce risk - a bit like an insurance policy.
I too have funds coming for this years ISA top Up.
I imagine you are thinking that if the 5% deal is poor - many people will hit the sell button lowering the price - and your aim is to be ready to buy to reduce the chances of the shorting gang being able to exit their position without real pain - the more buyers for sellers - the share price will hold. If the sellers do not hit sell button, or the 5% deal is good or fair, then you are willing to pay a higher price.
Not sure I will take this position. If people buy now, at a pretty low price, and I don' know if it's the floor, more shares will be in sticky hands and unlikley to be sold when the 5% deal concludes. Who knows how long this will take. I guess the other position might be the 5% goes to arbitration - this might also lead people to hit the sell button and drop price.
Now where did I put that crystal ball?
For me - depends how you define stellar results. A nice strike with great grades like HAD05 - SD would rather have this now or ASAP. For a single strike result to become "stellar" will take a lot of further drilling, which takes time.
Looking for an ore body less that 1 km square and maybe 400 - 2000m below the earth is not an easy task in an area as huge as Paterson. We are incredibly lucky to have found Hav - even with good geological knowledge and modern tools paving the way of where to put the drill. Lets hope that mixture of skill and luck come together again in 2023 for GGP.
Would a new good strike on 100% ground would make a buy out more likely - Hav is already attractive enough. I think it would drive up the required buy out price, but may generate interest from others than NCM. But it's all conjecture until we find something.
Tomorrow will be interesting - new tax year and some topping up ISA's - I have sold some shares outside ISA and awaiting funds to arrive. They will go to ISA and I keep getting drawn back to buying more GGP at these prices.
I do look at Hydro's posts and strategy - and wonder if he thinks the 5% buyout when complete is going to cause some holders to sell. I am not sure about this. Tomorrow and rest of week volumes will be interesting.
Strudel - good luck with the meet - work commitments stop me attending and Stirling is a good 3 hrs from me - but one day hopefully.
Just bought 48413 - very easily - so there are shares there to buy
notrader - yes fair point - additional farm in period probably/possibly means farm in period runs to the end of the "additional" farm in period.
There was no payments to GGP from NCM during each stage of the farm in period - just spending and some other commitments - all these have been met now and we are in the additional farm in period.
But for tenement E45/4701, during the Farm-In Period and for the term of the Joint Venture Agreement; So the JV agreement is still running - I think this is the Hav tenement blocks - so NCM have first refusal on this if another offer comes in - I think.
So from the original Hav JV RNS https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xp4py3x
We are now in the 12 month period following the completion of stage 4 - which I believe is the end of the farm in period.
"(Additional Farm-in) within a period of 12 months from the date following satisfaction of the Stage 4 Commitment (Additional Period), Newcrest shall have an option exercisable by written notice to the Company for it or its related body corporate nominee to acquire an additional 5% Farm-in Interest at fair market value." - So this is where we are at now.
"During the Farm-in period, Newcrest will have a first right of refusal over the Black Hills (E45/4512) and Paterson Range East (E45/4928) licences. Additionally, during the Farm-in period and the term of the proposed Joint Venture, Newcrest will have a first right of refusal over those blocks within the Havieron licence (E45/4701) not included in the Tenement Blocks.
A link to the map of the Tenement Blocks and Greatland's Paterson licences can be found on the Greatland Gold website at: https://greatlandgold.com/paterson/ "
So as the farm in period has ended - has this right now gone? And black hills and paterson range east are now in Juri JV anyway.
"Right of First Refusal: If Greatland receives a bona fide offer from a third party purchaser to farm-in or otherwise acquire all or part of its right, title and interest in the Remainder Tenements, the Company must first make an offer on the same terms to Newcrest. The right of first refusal will only apply and be binding on the parties (a) in respect of any area of Tenement E45/4701, during the Farm-In Period and for the term of the Joint Venture Agreement; and (b) in respect of Tenements E45/4512 and E45/4928, for the duration of the Farm-In Period."
Farm in period has ended - no? If so NCM have no right of first refusal? I am not stating this as fact - but for discussion and confirmation.
I am sitting, waiting, holding and have been accumulating - how much faith do I have - loads as I have bought another £118K here at prices well above current levels since Oct 2020. £20K further has been recent around about 13p. Luckily I had been buying from 1.6 from April 2019 to April 2020 - I took a breather from Apr to Oct 2020 - was a mistake - wished I'd kept buying on way up.
To those who wonder why price increases in Gold/Copper are not reflected in current SP - because it's all still in the ground - and this will not materially affect the SP in my experience until we are very close to production.
But we know Hav is much bigger than 6 Moz. We know NCM want to get the FS released and start construction on the next phase Underground Mine at HAV. Needs this feeding Telfer.
I am hoping in 2022 we can get a strike on 100% owned ground - Scally would be nice and would get NCM's interest.
GLA - looking forward to next results - as bamps says - holes are now very long, expensive and take time to drill - and are looking for the edges of Hav - really further exploration holes - with some infill parts.
The easiest way to keep the value of Hav down would have been to slow down the drilling. But NCM cannot do that, because they need feed ore for Telfer ASAP. The initial MRE and Phase 1 selective mining - is high grade and will be good for Telfer, but NCM will wan the underground block cave mine developed and into production ASAP, I have heard people on here say typically 8 years.
Meanwhile - Cadia East - 100% NCM & 1.9 km deep ore body. The project’s feasibility study was completed by the end of 2009. In January 2010, the New South Wales government granted Newcrest Mining the approval to proceed with the construction of the A$1.91bn project.
Construction began in April 2010. First production from the underground mine was achieved in January 2013, while full production levels were expected to be reached in 2017.
So can be done much quicker than 8 years. Main problem is Hav is still open in so many directions - and at depth, and if super high grades are to be found in Eastern Breccia - may want to go there first.
What I await with interest is the GGP exploration drilling plans for 2022. The start of these should be kicking off very soon? Some good results on a 100% owned block would be very interesting - especially if Scallywag, as NCM would definitely fancy involvement there as well.
Not in my opinion - but GGP can use an estimated MRE as part of their valuation - as long as they have drilling data and they can show arbitrator it's JORC compliant. The email reply from NCM I found interesting as it said the "modelling" takes a long time.
I do not think it will go to arbitration - but that's just my opinion - I think NCM and GGP will find a way to get within 10%
Been keeping pretty quiet lately - have faith in SD and the team - they have very little control on the 5% purchase other than put up a fair valuation argument. 5% was part of the JV deal - and nobody entering the JV probably expected hav to be the size it is going to be.
The deal could be interesting - a % share of an asset I am familiar with has just been sold. It includes a fee/payment if an existing not commercial part of asset is brought into production, and another payment/fee if a new discovery is made in the asset acreage - this is not mining, another sector.
I have topped up in last couple of weeks and see plenty of other LTH doing the same.
Today I had 37750 at 12.855p, and 21st Feb had 75757 at 13.199p.
Not really got funds to top up more - and had said I was finished - but I just think this is so low risk.
On 29th Dec I had 737,000 UFO at 0.67 - was very tempted to put more there and plumped for GGP this time.
GLA - just need patience - and dream would be strike on 100% owned ground.
The Hav JV has a management ctte - I think of 5 people and 2 are from GGP - this should ensure that GGP have access to all the data that NCM have on Hav. Well we have never seen the full legal text of the JV, but that's what I'd hope.
Would be very disappointed in a JV if we did not have full access to all data.
Joe - I am in UFO - been in for a while and made a little profit, but missed a big profit - bought recently again at 0.67 and thinking about another buy. First buy was August 2020 at 0.26 - only bought £1200, big mistake - next buy Sept 2020 0.76.
I am quite hopeful there - and Tymers will be along to shoot us down shortly.
Have not read all the board today, and don't know rules in Australia, but in the UK - when performance shares vest, you pay tax and NI at the time of vesting based on the market price of the shares at time of vesting, so real cost could be very much more than £12K for SD. Depending on tax rules in Australia.
Maybe a very clever accountant can do something about this - but any normal employee in UK this is what happens.
I am also in UFO and saw Hydrogen posting there today - I have 1.4 million over there - again long term view for me - hopefully will be very good.
My last purchase was GGP though.
I looked a lot at Xtract Energy or something it was then - was tempted but luckily never took the plunge before they crashed - I never realised it was the same company I am now invested in. Almost my whole life in O&G, and know North Sea very well, was worried enough not to buy back then, but knew someone who did and sold at the right time and made a nice profit.