Member Info for WelshFalcon

Thanks, Floater.

NCM isn't a bottomless cash resource and they have to justify internally (and to their shareholders) any exploration expenditure. We now have the largest number of prospects in the area under JV/Farm-in. This raises the bar substantially for anyone else in the area to join this party (have to go to Rio, perhaps).

Interesting wording that @Hydro.

"the right, but not the obligation, to acquire..." .
To me this implies that there will be a payment of some sort. The additional 17m does not 'earn' them a larger share, but earns a right to acquire. mmmmmmm, scratched chin and nods knowingly!

And a subtle change in focus for NCM. Our nearology competitors are going to have to come up with something amazing if they need to attract the NCM $. We are effectively the preferred explorer, now.

Djf, Priceless

"Angus horribilus"

Best typo/autocorrect error of today! Is that a Scottish 'Angus'?

LOL.

@Hydrogen, you are spot on.

I'm not sure if I dare mention it, but the financing of the project was what did for SXX. (ducks and runs for cover). Our financing costs to explore and prove up all our prospects will be big. Going alone will make it a long drawn out event with most (if not all) Hav income being soaked up. OK, we've given up 75%, but have much less risk (on the non Hav bits) and a pathway to accelerated exploration on all our projects.

SWAG is still 100% too!

GH is a financier so I'm sure he's looked at all angles. There was a clue in his BRR interview with an expectation of future financing at better rates.

Maybe what he has done is given GGP the funding to get Hav into production, without dilution, at very reasonable rates, without the cost of a normal cash raise, provides further derisking all with a view to refinancing at better terms, if needed in the future.

Clever bunny IMO.

Gloating is not a good look!

We all make investment decisions for a variety of reasons, sometimes they turn out out well, sometimes they are badly timed and sometimes they turn out bad.

Let us know your worst investment decision, and we can all say "Na Na Na" to you......

It doesn't quite work like that @Perrins. " NC wouldn’t buy it outright or even the company Ggp outright".

They have to offer, we say no until they offer silly money or give up. It's not Tesco. They can't just put HAV / GGP in their basket and go to the checkout. So no, not without our board's agreement.

Even better, send someone else out and track them from your armchair with a drone.... Much more fun.

Are they ours, or just library pictures?

He does say SWAG assays still to come, but did mention some drill head data.. Hopping from foot to foot here!

One other thought is that, assuming we are looking at a district scale find(s), this does tie us and NCM firmly together in the area. It will make it less viable for NCM to progress other Farm in's / jv with some of our nearology players.

We may well have captured preferred status, as it were, in the area.

Lovely stuff.

This all has a subtext of something interesting for the missing piece - SWAG.

Yes the first refusal is referenced as still in place.
We don't have to spend cash drilling the Juri JV, but get to manage it for the first year.
To me this frees up all our own resources to concentrate on SWAG.
More (big?) news to come on SWAG? Perhaps it is being left to GGP to announce that one....

I'm up early tomorrow morning....

Correct, but that just confirms the status quo.

Interesting that SWAG is not included - we still have this 100%...... Itching to see the assays.....

All totally moot @Condor.

I'm happy to ride with our 25%. Nice healthy dividends for 20 - 30 years from 25% of a tier 1 mine will do me just fine. If they do want to buy, I'm happy with that too... but it will cost them dear much more than 1b. Remember we have to agree to a sale, It's not Tesco's - NCM can't just put us in their basket and go to the checkout! They offer, we say no until we get silly money or they give up and we keep our 25% simples.

Your insight as to what is actually going on is massive for us. NCM walking away, WOW, just WOW!

That leaves us with the current 60% of a tier one discovery, much better than the 25% our share price is predicated on. I do hope you are right. Lets try to put some numbers on that so we can see how fast the shares will move up on Monday assuming what you are telling us is true.

So we would be looking at an immediate uplift of X2.4 i.e. around 55p. Massive.
BUT, we still have HAV to deal with, not a problem. Our current value is predicated on around a 4p per moz and an expectation of a 4 - 5moz inferred MRE about to be announced (plus some extra for SWAG etc). Now we will be in charge of the site after NCM eave, so can expand the footprint for the MRE to include all the sulphide zone as well as the proven braccias. We have already shown this to be around 12moz (supported by a well known fund manager too, there is video). Now, our 4p per moz, now becomes 9.6 (X2.4, of course). So we would now have a value of £1.15 (12X9,6).

That's before we factor in the GDXJ buy in Dec and SWAG results! If all is correct we will be looking at (purely based off your wonderful information) at a price north of £1.50 by Christmas. My pension sorted well ahead of time.

So, Thanks Bobby for your great insight and information. The gold is there, you can't unfind it. It's just that your news gives us much more of it and control of the MRE process. Lovely.

@Scinv

If they can't give sng001 to patients on ventilation, they can help manage their resources better by giving it to those next in line for ICU beds. May just stave off the nightmare scenario that they are looking at.

Whooaaa there, hands off our Kraken!

https://www.bbc.co.uk/news/election-us-2020-55090145

It is friday!