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Professional junior mining investors Brian Leni and David Erfle discuss whether we have seen a junior gold stock bottom or if there is more pain coming. They also chat about the current junior gold stock sector and the recent BMO and PDAC mining conferences and offer insights into how they are perceiving the market.
Interesting comments from 6:58 mins in.
https://youtu.be/ygaAfN9qugQ?si=ZSRSieCTgNb7ukBQ
Malva that’s all well and good, so invest in De Grey. It’s not a d7ck measuring competition is it?? De Grey this De Grey that. Great… go buy shares. The point we are here is to make money on GGPs shares. What’s going to happen to turn 6p a share into 20p a share? That’s why we are here. Cheers
Thank You Liam.
Incredibly positive interview from Callum who clearly knows what he’s talking about and who is putting his money where his mouth is.
Noted in particular he was upbeat on Telfer and had no hesitation when asked if it can work in the future.
As mentioned, patience is now the key here, just keep in your mind Win Win Win!
Nice touch with the bloopers at the end Liam!
Many thanks Dip! Much appreciated as they all are! TT
I am not a shareholder in the De Grey mining company so their operations are of no concern to me. Yet another diversionary tactic in an attempt to get into GGP Investors heads and panic them to sell. Well know short seller methodology. Seen it all before.
Notes from GGPHelp interview with Callum Baxter - 08 Mar 2024:
Callum Baxter, Former Chief Geologist, and finder of Havieron stopped by for a chat and a catch up with all things Greatland Gold PLC with Liam at GGPHelp TV.
https://www.ggpchat.co.uk/viewtopic.php?t=900
GGP versus others tbh it’s not important, if you’ve invested here all that matters is ‘what is GGPs future’. Does GGP do well from here? The other miners will have their own journey. Since I own shares in GGP my focus is on its share price and the upcoming catalysts, not the other companies. Pointless comparing when each company has its own unique issues that impact its future.
Time for Callum to put his skills to good use again.
Hi Bamps,
Your description of De Grey needing to operate all pits simultaneously also explains why Hemi is capable and planning to achieve tier 1 gold production rates above 500,000ozpa (estimated up to 570,000ozpa). If you do a gold equivalent that accounts for copper at havieron, it is still smaller than Hemi. I do like the copper at havieron though.
The tonnage will get lower towards the end of the mine life- this is normal for any mine operation. Have a look at Havieron's production profile and you will see the same thing.
Hemi have disclosed the strip ratio. This is reported for any open pit operation. Hemi estimate a strop ratio of 6.7:1 and expressly designed to optimise cash flows. The waste rock will be used for ramps to maximise efficiency in removing ore and waste rock. Waste rock is well known to be higher in bulk mining methods compared to selective mining methods. It is comparing apples with oranges. The production rate, financial margins and NPV are near the top of the hierarchy of factors. Hemi has a massive NPV that reflects its quality as a tier 1 asset.
It would be silly to say cadia is a lower quality asset than havieron, for example, due to grade differences. Cadia is a clear high production and margin tier 1 asset. Cadia and hemi are bulk mining and the Havieron is selective mining. Lower efficiencies in bulk mining methods such as dilution are massively outweighed by the significantly lower cost per tonne and is why both fetch a higher NPV than havieron. Selective methods have to be more efficient because the cost of selective mining is so much higher per tonne. This is the basic principal between the bulk and selective that gives both different upsides and downsides that are meaningless to compare.
I have noticed a lot of posters who have switched from saying Telfer is running on fumes to now saying it has exciting additional ore to be found. I think reality is closer to somewhere between those extremes. Buying telfer and 70% havieron gives opportunity to optimise the low margins at telfer to stretch some value from its purchase. Leveraging the infrastructure for havieron then makes our project a great tier 2 starter mine. We can hopefully develop a tier 1 bulk mining method in the future that will generate an NPV closer to De Grey's tier 1 bulk mining project.
I am not sure we see eye to eye on this but enjoy our conversations as always.
Plainly, on what is being said there is money to be made from the Telfer/Havieron combination, plus whatever else just might be processed at Telfer. From a Ggp perspective as agreed by Mr. Baxter, though not discussed, that will be after purchase price has been raised, together with that required to satisfy capex, on the road to Havieron production and in respect of any changes to the way Telfer life may be extended.
The good thing about a Callum interview is he can say what he thinks now he is no longer a director.
Whereas Shaun has to be more restrained.
Really looking forward to the next instalment in Greatland’s future.
Top man Bottle rocket that's a great interview .
Maybe Callum could be invited back to the farm.
Ex volvic
Just underlines everything we already know and keeps our confidence at a high as we see the value of our amazing deposit grow with the price of gold! Win win Win
Bamps
How can you say - ‘ The Hemi deposit is a good asset but it’s nowhere as good as Havieron’
You lose all credibility. They are in a different league and they own 100% and at surface.
Hi Malva
There is a lot at Hemi to consider
The gold is the only economic mineral it has to pay for the whole operation.
The only way 500koz could be achieved is having all 6 pits open practically at the same time as it gets lower the amount of tonnage coming out will get lower.
Their underground mines will be stoped so you can’t compare Havieron capex with Hemi as Havieron is very compact , Hemi underground looks to be in narrow thrust faults and veins.
Hemi irregular shapes will cause high dilution rates they’ve never disclosed any.
Havieron stoping will preserve the cover surface reinstatement will be minimal, Hemi will be quite extensive especially with a huge tailings pond to be constructed.
Hemi needs to extract 3x Havieron ore for the same ounces equivalent.
There doesn’t look like there will be dilution if Ggp by Telfer and the 70% according to what Shaun was saying.
There’s a lot of talk about more Ore to be found at Telfer so it’s just not the case of buying a plant on its own.
Don’t get me wrong I think Hemi is a good asset but it nowhere comes close to the Havieron orebody
The market is the ultimate judge of value …… in the last month. De grey +10% and GGP down 16% ( or was yesterday when I checked ) Bellevue +21% (just in production)…… and gold price up about 6% USD
Bamps, you can’t compare hav to hemi. Firstly hemi is far bigger (+growing much faster), secondly massively cheaper to mine as the current resource is all open pit and they haven’t even looked underground. Yes it is 19.9% owned by gold road, they have deep pockets and hemi is the 3rd biggest undeveloped deposit globally so funding is no problem.
I thought it funny even the interviewer was bemused by the answer on the ASX listing ( I think he suggested a different answer to last time ) - even now you are overvalued compared to ASX piers which is why it would be dilutive to list on the ASX. Look at Spartan on SD chart ( the have a mill + 100% of a growing resource) or Bellevue that are now in production. GGP are way overvalued IMO.
Also I note it wasn’t touched upon that telfer would require a large capex investment to process hav ore or the capex to build a road ( and opex costs ) ……so not plug and play
So cut the ramping mate and DYOR
Itsouthere, Plode, loftmonkey, nineblahblah, Aquakidd, aim999, etc etc???
I ask would you rather listen to the founder of GGP or some random on the internet??
Callum retains most of his shares. Last I saw he held about 80million but after the Starvest closure it’s probably a hell of a lot more now, well over 100mill I’d think.
So thanks to Liam for arranging and publishing the interview. You can all make your own mind up of course. But I know where I prefer to obtain my knowledge from.
https://youtu.be/iB9aMxKV-bo?si=yJhqAGTD805Res0i
Hello Dr Magic,
Really good news and great to see your name here again.
There are many excellent posters here but
YOU ARE THE MOST HELPFULL!
I look forward to seeing and hearing much more from you,
Hope all goes well with you
Yellowstuff
Congratulations Magic (or should that be 'Dr Magic'?) well done!!
All of the (extremely no doubt) hard work paid off!
Looking forward to more of your thoughts on our tenements going forward now you have 'more time' on your hands!?
What next? (CV off to SD? 😉😀)
All the best
MB
Well , I have just caught up with Liams interview with Callum !
Well played Liam and I’ll be thanking you directly for your input here .
So many takeaways to underline the value proposition and the investment potential here ! It is a very pleasing interview and though it’s been done to death it’s helped put a glossier long term outlook on all the uncertainty that surrounds and has surrounded us for some time here : so I’m going to repeat our future prospects which could feasibly play out in between the next 3-5 years !
- Callum is still heavily invested and believes this is a cheap investment opportunity for new investors right now ( ie the only way is up !)
- “Greatland s one of the best gold investments in London at the moment. Particularly on AIM”
- the highs of current gold price can only help our value proposition
- examine the Lassonde Curve ( is he believes in it and we’re on it and at production stage the SP will escalate )
- If we can buy Telfer it’s a great vehicle to min8ng Havieron plus satellite deposits all around
- there’s a lot of smoke around Scallwag ( ie I’m hoping my Scallywag will come home one day )
- ditto Ernest Giles
- we have ROLR- ( ie if the price is right it’s ours and it’s financially achievable)
- our BOD( ie speaks for itself !)
Havieron is too good not to mine ( up your Sandeep Newmont and Newcrest )
- there are multiple investors plus pension funds waiting on the sidelines ( ie come ASX)
I could go on but we’ve done it to death.
My view … now a 3-5 year win win win win !
Awesome Jamie Awesome. Well done
Hi All. Great week for gold. My predictions of $2500/oz in 2023 were thwarted by two things, bitcoin and the continuing but failing attempts to suppress the PMs market. The bullion banks have still not given up hence the volatility on Friday with 2x $40 swings. The banks are now in the red for $40 billion net on the short side and are finding it hard to square the books with producers not hedging. Traders standing for delivery on the COMEX are hurting the liquidity providers in that market and loco London.
Buyers of physical gold are having to pay twice as much as a few years ago and it will get even more expensive as the suppression fails to stem the rise.
Soon the rising POG will be reflected in the miners and producers and the rush into that space will be some thing to tell the grandkids. ATB Speedy
Congrats Magic, all the hard work has paid off. After a well earned rest, I think someone may be hiring down under?
Hi Bottle rocket. Good to see your name on here again and many thanks for your relentless input. ATB Speedy