Looking forward to 'first' Greatland gold
Posted: Tue Oct 15, 2024 9:54 am
... Some say we'll see you, and first 'Greatland' gold, next Tuesday 
Here's an old quote from Day in October 2021 - before the unimaginable was finally harpooned:
“But having been in bigger companies for most of my career… I would rather pay more for something of a more proven outcome… and I think that’s where Newcrest sit today… I think there is a high degree of likelihood that at some stage Newcrest is going to take us out. There is risk asymmetry in our share price.. You know …. On one hand if we are unsuccessful in communicating the narrative around Havieron and it’s growth profile, at some point we just become, you know, this amazing value proposition for which Newcrest pay a premium to close us out and our job and the board’s job is to try and get that premium to 45 or 50% or whatever a number we can achieve. The alternative is presumably that we have theoretically unlimited upside in the share price by taking Havieron to its full potential and understanding and adding to that equation…”. Shaun Day October 2021
Of note in the most recent Sunday Roast was this other SD nugget
(apart from him dropping that there's actually 550koz or $600m+ FCF at surface at Telfer ) :
"Chinese group Zijin who just bought the other Newmont asset Aykem in Ghana for a US$1billion deal. Zijin paid 1.46x PNAV however Greatland just bought Hav-Telfer for 0.26 x PNAV or just 1/6th the price nav ratio paid in the market".
I mean WOWZERs - Just Let that Sink in. Our deal was 1/6th the cost per ounce in the ground vs what Zijin paid. ....
A massive strategic operational move executed ... I can reveal how and why.. Recall that October22 Melbourne dinner with Day and Biswaz? Well, joining the dots... The GGP deal to buy Telfer was probably penned with Sandeep, back in late 2022 at that dinner after the failed 5% debacle, but after he was sacked Newcrest let it fall away... Sherry Duhe then tried to revive the deal as a defence against the Newmont bid - and you know what Shaun did?
He told her to 'do one'
Because he knew he could drive a far better far superior deal direct with Newmont.
You have to hand it to him... Total Genius.
“Unlimited Upside” would appear to be dead ahead
Oooh if you can't tell, I'm so excited...
But then obviously I would be: ding ding,
Here's an old quote from Day in October 2021 - before the unimaginable was finally harpooned:
“But having been in bigger companies for most of my career… I would rather pay more for something of a more proven outcome… and I think that’s where Newcrest sit today… I think there is a high degree of likelihood that at some stage Newcrest is going to take us out. There is risk asymmetry in our share price.. You know …. On one hand if we are unsuccessful in communicating the narrative around Havieron and it’s growth profile, at some point we just become, you know, this amazing value proposition for which Newcrest pay a premium to close us out and our job and the board’s job is to try and get that premium to 45 or 50% or whatever a number we can achieve. The alternative is presumably that we have theoretically unlimited upside in the share price by taking Havieron to its full potential and understanding and adding to that equation…”. Shaun Day October 2021
Of note in the most recent Sunday Roast was this other SD nugget
(apart from him dropping that there's actually 550koz or $600m+ FCF at surface at Telfer ) :
"Chinese group Zijin who just bought the other Newmont asset Aykem in Ghana for a US$1billion deal. Zijin paid 1.46x PNAV however Greatland just bought Hav-Telfer for 0.26 x PNAV or just 1/6th the price nav ratio paid in the market".
I mean WOWZERs - Just Let that Sink in. Our deal was 1/6th the cost per ounce in the ground vs what Zijin paid. ....
A massive strategic operational move executed ... I can reveal how and why.. Recall that October22 Melbourne dinner with Day and Biswaz? Well, joining the dots... The GGP deal to buy Telfer was probably penned with Sandeep, back in late 2022 at that dinner after the failed 5% debacle, but after he was sacked Newcrest let it fall away... Sherry Duhe then tried to revive the deal as a defence against the Newmont bid - and you know what Shaun did?
He told her to 'do one'
Because he knew he could drive a far better far superior deal direct with Newmont.
You have to hand it to him... Total Genius.
“Unlimited Upside” would appear to be dead ahead
Oooh if you can't tell, I'm so excited...
But then obviously I would be: ding ding,