Member Info for TimberTrader

"Entered into a definitive agreement to acquire Newcrest Mining Limited ("Newcrest"); transaction is expected to close in the fourth quarter, subject to customary conditions, including shareholder approval."

In case anyone interested...

https://www.newmont.com/investors/news-release/news-details/2023/Newmont-Reports-Second-Quarter-2023-Results-Remains-on-Track-to-Achieve-Full-Year-Guidance-Declares-0.40-Second-Quarter-Dividend/default.aspx

Just a reminder that the Newcrest Mining June 2023 Quarterly Results, together with the June 2023 Quarterly Exploration Report are due next TUESDAY 25TH JULY (in Oz), so probably very late Monday night over here in the UK.

https://www.newcrest.com/investor-centre/key-dates

So much going on....So much news expected! An increasing amount, in a rapidly reducing timeframe!

It looks like the POG could be on it's next leg up to $1890...

https://www.tradingview.com/x/EwKwf4eE/

Finally, some action north!

IMHO the current sp is ludicrous, in the extreme, for just the tenements we own in one of the biggest gold/copper growth areas, in the best mining jurisdiction in the world!

@ Itsouthere, "Wow 30% rise? That would get ggp back to almost exactly where it was one year ago,great going"

Apologies, but I still don't get it! Exacty what is your your point from that post, or, IMHO, any reason to be here, whatsoever?!

Are you an investor? How long? Do you want the sp to rise, or fall?!

What, exactly is your point?!

If nothing else, I'd be grateful for at least some indication of your relationship with GGP stock, thanks!

...Blue! Up 0.7%...

I know that a lot of LTH's have been topping up on the decline. I certainly have, increasing my holding by around 30% over the past few months, when the sp has dropped below 7p. To be honest, somewhat top heavy, even as my largest position, but my choice, and I believe a good one. only time will tell of course. DYOR & GLA

I see that the false extra rise in the sp after hours yesterday, resulting in red at open this morning, is now burning off...

BRICS Nations Have Been Buying Massive Amount of Gold

There’s been a good deal of speculation BRICS nations could dethrone the U.S. dollar with gold this August. While it’ll be interesting to see if they can accomplish their goal, they have been accumulating the metal in the meantime. In fact, the World Gold Council, “published a report saying that China purchased 102 tonnes of gold. Russia has purchased 31.1 tonnes of precious metal in the last six months. In addition, India added 2.8 tonnes to its gold reserves in 2023, for the first time in more than a year. India accumulated gold for several months and could add more by the end of the year.” If successful, gold’s role as a global alternative currency could increase, as would its price. All of which could be a strong catalyst for companies, such as Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) , Newmont Corporation (NYSE: NEM) (TSX: NGT) , Franco Nevada Corp. (NYSE: FNV) (TSX: FNV), and Royal Gold Inc. (NASDAQ: RGLD).

https://www.investorsobserver.com/news/qm-news/6770921998548598

The clearing of Andrew Forrest of undisclosed and unspecified “wrongdoing” by law firm Seyfarth Shaw must come as a relief to the Fortescue Metals board, which commissioned the review after receiving a letter alleging Forrest had had a relationship with an employee.

No board likes unpleasantness with its largest shareholder. And the reassurance must be doubly sweet for the many board members with long associations with Fortescue’s larger-than-life founder, with whom any turbulence would have been exceedingly awkward.

....Sitting alongside him on the board is long-serving director and ex-Fortescue CEO Elizabeth Gaines. She stepped down from her executive position last August but is still firmly in the fold, including through a part-time “global ambassador” role which with her directorship pays her $1.3 million a year.

She and Barnaba also joined the board of explorer Greatland Gold last September, on the very day Forrest’s Wyloo Metals reached an agreement to buy $60 million of Greatland shares. Wyloo is now the biggest shareholder in Greatland, and as of December, Barnaba is the chairman....

https://www.afr.com/rear-window/fortescue-s-cosy-board-dodges-a-governance-grenade-20230718-p5dp58

Nice to see that the Daily Mail/This Is Money piece is getting international coverage!

Just breached $1980...

https://www.tradingview.com/x/3YnpN8Jy/

Newmont Corporation today announced that the Canadian Competition Bureau issued a “no action” letter clearing Newmont’s previously announced transaction with Newcrest Mining Limited under Canadian competition law. Newmont is progressing towards receiving regulatory approvals in other jurisdictions for a transaction close expected in the fourth quarter....

https://financialpost.com/pmn/business-wire-news-releases-pmn/newmont-announces-canadian-competition-bureau-clearance-for-acquisition-of-newcrest

Just published in the last hour. If I remember rightly it's only our second mentuion in 'This is Money', the award-winning financial website and the money section of MailOnline, which covers everything from personal finance to City, business and economy news.

'The shares are due for a re-rating.'

It's an easy phrase to bandy around, but what does it actually mean?

Is there any way of quantifying how or why a re-rating of a given company might be due?

Well, in the mining sector, there is.

It's known as the Lassonde Curve ...

...Further along the curve is Greatland Gold, a perennial favourite amongst speculative investors, but a company which is now moving towards production in partnership with the world's biggest gold company, Newmont.

Greatland shares have been lagging in recent months, as the company continues to labour through that period between the euphoria of discovery and the hard reality of generating production. But production isn't far away now, and according to the second upward leg of the Lassonde Curve, that means that the shares are due an uplift...

https://www.thisismoney.co.uk/money/investing/article-12307541/SMALL-CAP-IDEA-Lassonde-Curve-predict-future-behaviour-mining-stocks.html

It didn't work for long...Up 3%

IMHO, it's pointless expecting the MD to provide such information now, or indeed, probably at any point, during any such negotiations.

I'm more than happy to leave the running of the company to Shaun Day, and I don't expect him to tell shareholders the minutiae of everything going on,in any negotiations, both financial & otherwise.

Indeed they have, but, again, IMHO, some of them are highly likely to get badly burned fingers in the next few months, unless they watch out!