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aandi - Regarding the AGM.
I have attended for the last 2 years & intend to be there this year. It will be a full house & there were some high profile individuals in the audience last year.
One point I would make is that as soon as they confirm the date - Tuesday at end Nov or early Dec - send an Email to your investment nominee to say you would like to attend. Most shareholders are with nominees specified as Substantial Holdings in the GGP Annual Report. I’m with HL & others will be with Barclays, HSDL, etc.
Your nominee needs to notify GGP that you will attend. There is basic security and someone will check you off as you enter. There must have been over 50 attending last year and it will be difficult identifying the stalwarts of the LSE bb unless we all wear a gold tie !!!
Firmly changes perspective of results at Blackhills (depending on how your read it initially) given that it's a different style of mineralisation and shallow:
· Best four metre composite results include:
o 36m at 0.53g/t Au and 0.21% Cu from 104m (SRRC007), including 4m at 1.65g/t Au from 104m
o 36m at 0.36g/t Au from surface (0m) (SRRC010)
o 12m at 0.57g/t Au from 32m (SRRC011)
o 56m at 0.56g/t Au from 68m in hole (SRRC012), including 4m at 2.52g/t Au from 76m
All the best folks, I think people wrote of BH based on the fact the results weren't BONZA compared to Havieron.
Fun.
Highest peak grade was over 300g/ton. That 2g/t equivalent has been worked out as the average for the whole area to be mined. I forget where it came from, some mining analysis that has read the numis broker note perhaps?
Hi Paddy. I have always thought it odd when people use such numbers like 2g/t. Thats great for a slither from a drill hole but that doesnt mean that the bits not drilled will be the same. But if we get >2g/t in the drill bit, other places can be lower or nothing to still get a mineable average. Not sure what the average drill result needs to be to allow one to be certain that even if the no drilled parts have little to nothing, we still have an economic mine. I suppose to a greater extent it depends how many holes are drilled?
Most holes have far more with nothing than with something.
Mind boggling good paddy , I noticed the Cadia news to. No wonder GH is dismayed by the share price , boy is this going to rocket.
Just reading through the Cadia expansion project document.
I know the AISC at Cadia is incredibly low - I checked in the annual report and for last year it was $171/oz. With gold @ $1,500 that gives them a margin of over $1,300 per oz produced.
What I didn't realise was the average grade in the indicated resources is 0.37g/t (from the annual report) and will stay roughly the same going forward looking at page 5 from todays report.
http://www.newcrest.com.au/media/market_releases/2019/Cadia_Expansion_Project_Oct_2019.pdf
All the experts so far have been talking about using a 2g/t value to work out resources at Havieron - my question is if Newcrest can extract gold from average grades of 0.37g/t @ an AISC of $171 at Cadia then why would that not be possible at Havieron also?
Are we setting the bar too high at 2g/t when lower grades can obviously be mined economically provided the orebody is large enough to warrant the initial outlay for the block cave infrastructure?
GLA - Paddy
Definitely mate,
We'll see if we can get GH to stump up for a couple of rounds for us all.
Cheers
Thanks Paddy - let's hope GGP rewards all of our investments - will try to get to the AGM if I can this year and meet some of our fellow believers - might even be able to chat over a beer or three!!
Cheers TomE,
Either the 3rd or 4th would suit me as I'm working the weekend before and after so should be able to make it.
GLA - Paddy
I think its the 3rd December.
aandi,
I don't think they've announced a date this year but last year's was on the 4th December.
I didn't attend but I know some others on here did so perhaps they can fill us in on the protocol!!
When is the AGM paddy? Does one need to register to attend?
Hi Redirons,
Thanks for the comments - I've been here just over 2 years now myself - I bought in without doing too much research back in September 2017 and got caught up in the euphoria at the time. I got locked in and averaged down after the "unmentionable event" but then started to research in a bit more detail with helpful pointers along the way from other more knowledgeable posters than me.
I don't really have a time-frame on the long game - I guess I just mean I don't trade and am prepared to wait for things to play out - if it means a buy-out then that will be out of our hands, but I'd love to see us hold onto our percentage of Havieron and if it is a Tier 1 as we hope we could see an income coming from GGP for the foreseeable future.
In this age of low interest rates and crap returns this would be my ideal scenario - keep all my GGP shares tucked away in ISA's and SIPP's and use the income to supplement whatever other returns other investments can generate.
I haven't been to an AGM yet (hoping to make this years) and haven't had the pleasure of meeting either GH or CB but others who have seem to rate them as a team and to be fair over the past 2 years I can't find too much to moan about.
Good luck whatever you decide to do - Paddy
Hi Paddy - love ur posts and thanks for being so selfless. I've been hear 2-3 years already - can I ask what you mean when you say the long game - how long do you think before we are stable in the 10p plus region? I would hold forever if I believe we would be a 10p plus Company without fail. Otherwise if we are bought out or the SP rises to what looks a temporary level before it crashes back down, then I would bale and say my work is done!! Your views respected but I will not hold you to anything - thanks.
Agreed Looking,
Newcrest seem to be an incredibly well run business - the funding of the expansion is coming from FCF and is securing the future of it as a Tier 1 mine for many years to come.
They seem to go about their business in the correct manner and that and the fact they've been shouting about Havieron from the rooftops since the start of the farm-in gives me a nice fuzzy feeling as well
The SP will do what it will do from day to day but eyes firmly on the long game and the big prize.
GLA Paddy
Hi PG,
I got that e-mail last night as well and had a read. Interesting to see the figures involved in development and the staged process of deploying funds. One big cost that GGP does not have to deal with is building a processing plant.
All looking very good at the moment, I would be surprised if the upcoming drill results are anything but okay to great. As others have posted, the focus that NC has given to Havieron in recent presentations would not sit well with any adverse results and no doubt NC had sight of results not yet released to the market.
GLA keep the faith and patience.
I guess the other takeaway is that Newcrest can drop news at any time so even though we're expecting exploration updates at regular intervals there's every possibility that Newcrest could drop them unexpectedly - so trade this share at your peril
GLA Paddy
Have you guys seen the big announcement by Newcrest today about the extension of the Cadis mine?
https://www.newcrest.com.au/media/market_releases/2019/Cadia_Expansion_Project_Oct_2019.pdf
Interesting timing don't you think what with the quarterly update coming next week?
Are they clearing the field for some other big news next week????
GLA & DYOR Paddy