Member Info for WelshFalcon

I'm with you there @Paddy.

But, to be fair, at the point of drawing up and agreeing the J/V, I don't think either side believed that HAV would be this big! NCM have stepped up to the plate, as it were, and have moved things on at an impressive pace - so in many ways they have earned an eventual uplift on the 5%. It's just a lot bigger than anyone was expecting.

To get us into the ground and extracting ore this quickly, well I'm very happy with how this J/V deal has worked out.

Wow!

So you are asking the conspiracy theory touts to use logic and actual facts?
Good luck with that, it's not something they believe in!

That's not ducks!

2/2/22 is four swans swimming backwards.

Stamps feet non-stop until one comes......

I think he's the short guy.

OMG!!!!!

You're still pushing this completely ludicrous de-ramp?

Why don't we just get a bunch of anti-vax idiots to come up with a number for us? They are also divorced from reality and base their life choices on anything but the true science that governs their subject.

Please stop - the normal people would much rather the proper science and data be assesed by those that happen to understand it and have made a career in mining and valuing deposits, not some spotty oik at JPM (or any other broker). They may (or may not) be skilled in valuing companies, but keep them well away from valuing a mineral deposit.

Lunacy.

Er......

NCM do the drilling. NCM/GGP oversee this and other exploration within HAV. They both get to see the drill head data as well as all data coming out of the ground/area.

The brokers only get to see what has been published and only after it has been published, How on earth can anyone expect to use a broker's third hand, less than full, information to value for the 5%. Therein madness lies!

Oh dear!!!!

You mean the brokers that haven't seen the full detail that both NCM and GGP have to hand?

I mean really?

Boat? We're all aboard the boat, haven't missed it at all.
The Cap'n is just waiting for the high tide needed to set sail.......

The 'Goosebump' moment for me was a reference to initially targeting +5g/t ore and immediate positive cashflow as soon as this production starts.

For a tier 1 discovery, the condensed timelines in getting from discovery to production are off the scale!

Mornin' to you too.

Cat fed, coffee made!

1) Read the RNS
2) Make Coffee, feed cat.
3) Read RNS again, carefully this time.
4) Do a little dance.
5) Try to work out what price action to expect.
6) Create plan to sell enough to recover initial costs (remainder on free carry).
7) Re-evaluate as things happen.
8) Work out how much to take as profit and how much to keep invested.
9) More Coffee.
10) Buy new car.

I think SD will find it very difficult to explain if GGP agrees to an average outside of the current J/V agreement when GGP's higher value was determined as the 'fair' one by the expert.

Likewise SB if NCM agrees to an average when their lower value was to be chosen.

While an agreement could, theoretically, be made it is highly unlikely that it would.

True @Timber......But.

NCM have fired the starting pistol for the purchase of the additional 5%. The clock is running. If they (or we) want to now change the agreement of how this is calculated, it is unlikely any agreement will be reached IMO. So we have the procedure as set out.

Had NCM wanted to use a different method, they would likely have proposed changes before firing the starting pistol.

Spot on @Tom.

Basically the 'expert' will come up with his figure and has to choose which one is 'fair' In reality this will be the one nearest his.

As I understand it, the arbitration is to decide which of the two valuations rule. Not to give a third one to use. The whole process is designed to prevent 'low ball' offers or silly high ones too.

So, assuming everyone is working off the same base data, the Arbitrator will come up with his value of say 'X'.

Now if NCM decide to 'low ball' their offer and they put up 0.3X vs a reasonable 1.1X from us, then our value will rule.
Likewise if we decide to put up a silly high offer of 3X vs a reasonable 0.9X from MCN, then their value will rule.

ALL this will tend towards both sides putting up reasonable offers. i.e. if we go too high, our offer will be further away from the arbitrator's and therefore NCM will get their valuation, Likewise if NCM go too low, the same things happen and our valuation will win. If each side plays fair we get a win win all round.

Your point being?

If NCM value Hav at X and we value it at 3X. Arbirtrator says that GGP have the better valuation, so we 'win'.

NCM decline to exercise their 5% buy as too rich for them, we keep our full 30%. Happy Falcon.
NCM do exercise their 5%, but they have to do it at our 3X valuation. Happy Falcon.

No downside to worry about!

West Wales - can't go any further west!

"with omicron phasing out and delayed results it’s looking a lot less of a upside"!

What a Twonk! It would only look like that if you were both blind and stupid.

'tis a Sunday, I guess. The day for all the idiots coming in here to sow doubt and disrupt. I'm off to the beach, lovely sunny day here.

Well, I am for one.

I failed on Wordle today (first time fail....), so need some good news to perk me up a bit!