Firering Strategic Minerals: From explorer to producer. Watch the video here.
Starbright - nothing wrong with enthusiasm when we are rocketing as long as it doesn't come with false ramping. End of the day, we all knew this day would happen (and plenty more) as we are under valued, we have got to 38p on nothing previously so there was always a probability that we would rise fast at some stage - that's not ramping.
I don't agree with the giddy nonsense of "shorters getting burned" - Do we even know the exact figure the price that the shorters got, the % of daily cost they've had to pay etc they could be buying into the rise and making plenty of profit still, a diminishing profit by the second but profit all the same. I don't profess to know much about shorting so if I'm wrong then that's fair enough but my guess is they'll be leveraged against a sudden rise with other long positions anyway. We already know that it's multiple shorters as we've had no notification of anyone hitting the shorting threshold.
Anyway's, who gives a flying toss, I'm starting to look healthier, my mums investment is starting to look healthy, she and the wife may just start talking to me again :D
Would be interested to see price action on other joint venture explorers post PFS. I haven't got the time to research but that would definitely give an indication as to how much weight it can or can not hold with major players in the mining investment world. Obviously taking into account every asset will be different, it's just good to have an understanding.
GoldenL - the market is doing what the market does. Its exactly how it should be. No sympathy for anyone getting burned on the way
"Brass Neck, Balls Of Steel call him what you will. "
Neither, Walter Mitty MK2 is more fitting.
I find post history of forumistas enlightening. I love how someone (multiple people) go from not being in the know, to asking normal questions to being in the know and suddenly knowing a man who knows a man. I've been around forums for long enough to recognise types of posters and spot who is full of twaddle and who likes a good embellishment for whatever reason. Joe Bass was pure jackanory nonsense.
You 100% have google alerts set up don't you Paddy!
Wish I had cash to do it, this is probably the most frustrating part of everything for me. Although I think I'm over committed just in case a black swan event happened.
Kieffy, no one is talking about being certain so of course it's speculation, it's just conversation though, not hurting. Prompting me to read up and learn about joint ventures and fair market value so it's got positives has speculating.
Nice one bronson.
I don’t see the mcap being that much of an issue in negotiations personally unless NCM decided to go for takeover in which case it wouldn’t exactly be difficult for GGP to extract more value with talk of future earnings from HAV… fair market value of an asset will take into account everything including what it’s gonna be worth should we not lose that 5%. I think NCM would give a fair price especially if they thought that in doing so we would use the money for further exploration and be deeply embedded in a relationship with them, why bite the hand that feeds so to speak.
Just opinion of course.
Thanks TallchapJG
Not quite sure the usage of "laddering" is correct but I may be misinterpreting.
I could be way off on what you mean here but I'll have a stab...
In regards to your kettle and players to the party, I could be way off but I'm guessing you're saying that MM's are collecting a lot of stock ready to sell (they are still governed by FCA, don't forget that) to these new friends (you've already previously alluded to barrick and newmont). Pure guessing but it would be nice if you're guess is right.
Thank you stillbemused, that was what I was alluding to in the other thread just not as coherently !
Idle chit chat.
Can't see it if they have to go through an appraisal process but that would definitely cement the price much higher. I'd take anything right now, bored of seeing it in the red. I'm down as much as I was up at this stage last year due to further top ups on the way down. All be worth it but ****e day to day.
Just seen starbrights post earlier in this thread. Seems to know his stuff
Kevin - Fair point, oversight on my part there but there is "projected EBITDA" - I don't know whether it would work as I haven't done enough reading.
I'm with Frank, it's binding obligation to sell 5% should Newcrest choose to take it up.
I reckon looking at some historical companies that it will be done on 3rd party appraisal / EBITDA which is the most common way of doing it (by the looks of it)
MaxwellDtarney - That's my point. I'm stating that.
Rotherby - In your scenario would 5% of GGP produce them the same yields as 5% of a mined asset... Bearing in mind that SP doesn't always reflect earnings of a company.
Purchasing 5% of GGP on the open market doesn't give Newcrest 5% of Havieron... Why do people keep making this comparison!!
I'm pretty certain fair market value isn't book or market value either, it's determined on factors such as maturity of asset. In my limited but learning understanding is that fair market value is done by appraisal of asset.
Fantastic post starbright. Articulated way better than I've tried on several occasions but sums up my thoughts 100%. No disrespecting anyone whilst making an extremely salient point! Thank you.