Shows an image of the weighting of GGP in MSCi UK Micro Cap Index from their report. The MSCi report is downloadable pdf if you Google it. I can’t work out how to link to it myself.
I suspect they cannot release results on their their wholly owned targets until NCM have reached their full farm in agreement level and MRE is released.
Speculating but assume their is some clauses to stop buy out too soon from NCM until they fulfilled the farm in agreement and a reciprocal agreement not to disclose their other target results until same point. Might be some mutual agreements defined
Whilst I agree that revealing positive results at Scallywag would not be in Newcrests interest, I don’t think they can hold these results back for another year (when Newcrest complete the PFS and lock in 70% ownership of Havieron).
A good compromise (and this is pure speculation) would be that Greatland have got the results and are discussing another JV with Newcrest and cannot release any news whilst discussions are ongoing.
Realistically I think it’s the fact that there’s delays at labs in Aus due to the amount of drilling activity and C19 delays, also the CEO Gervaise, mentioned in a statement the other day that Scallywag drill results are to be announced shortly.
They’re definitely overdue. Fingers crossed it heats up again through December. I’m lucky that I only have my gains on the table now after liquidating shares equal to original investment. It kind of allows me to be quite lazy in waiting without anxiety
Lots of people jumped in on this during the hype earlier in the year, seemingly expecting it to carry on doubling every month. Be patient, the gold is still there.
I’m curious why Scallywag isn’t mentioned, other than to say Newcrest have first refusal. Hopefully drilling results there have been good and perhaps GGP wants to keep it.
Could be that it’s not looking as optimistic at scaly in which case the area covered by this jv must be promising or that ggp aren’t as interested in including that in a jv just yet
I think you’re right. With Havieron de-risked GGP can use the cash it has to prove the resource out at Scallywag and get a better price for it. Might just be wishful thinking though.