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Hi AJ
Ah yes the 5% that’s not due till after the FS, that’s a year away.
If you look back 12 months could you have predicted how big Havieron would have become now, I doubt it and all we could do is work out the value as of today, that would be pointless really.
I believe Ggp are in a win win situation at the moment if the 5% happens our debts to NCM will be cleared and money in the bank, if it doesn’t happen then I think Ggp will be better off with the revenues wiping out the debt quickly and building cash reserves.
ATB:))
Hi Bamps. With Newcrest it is all about ROI. I see Newcrest proceeding at 70% and GGP at 30%, that suits me. If more funds are needed for our exploration program or mine development at Hav the banks will be queueing (is that spelling correct)up to fund us at a very fair rate. ATB Speedy
@Bamps looking at the dates on GGPhelp bulk mining decision is
Q3/22. F.S. Decision to bulk mine (as a JV) to be made by NCM and GGP.
Q3/22. Bulk mine construction commences. [Additional 1200m deep / 8km long @ 8m/day].
Q1/25. NCM may acquire additional 5% interest.
Q2/25. Full production commences. Possibly sooner?
I think these dates are now wrong. Looking at the RNS that decision is already made. We are waiting for the PFS for the mining decision.
I think that was the original farm in agreement when the 5% became available after the FS.
The re-negotiated farm-in now only had 4 stages that complete when the PFS is delivered. Link to presentation here:
https://greatlandgold.com/wp-content/uploads/2021/04/GGP-Corporate-Presentation-April-2021.pdf
The new stages and milestones are on page 22 and it states
Newcrest incurs an additional US$20m in expenditure in relation to the Tenement Blocks and delivers a Pre-Feasibility Study
Earn an additional 10% Farm-in Interest and qualify for 5% additional option.
So after September when the PFS is delivered NCM will get their 70% and will be eligible to take another 5% at FMV. The FMV will be evaluated by independent consultants and I'm sure there will be provision for any as yet undiscovered riches on the 12 blocks of Havieron be that through a royalty or staged payment then we will get full value.
GLA Paddy
Hi Paddy. What is your preference? Sell 5% at FMV or retain 30% for life of mine. ATB Speedy
Hi Bamps, Thanks for that. All the best AJ
Hi Paddy, Thanks for the clarification. Wonder who's side the independent consultant might lean toward? Sorry, Just getting too old to trust the system any more. But, if it comes to it, I hope we will not be too disappointed with the outcome (appreciate there is a lot of water to flow under the bridge and I've lost sight of my 'Pooh Sticks!). Thanks again, AJ
Redtrader - apologies about the roadmap on GGPHelp, it is out of date but I don't update the website unfortunately.
I will post the current roadmap (at the risk of pi^^ing some off, on here because they have seen it enough times already)!
As Bamps said - the 'top layer (where the decline is heading presently (Top 320m), will provide for the opportunity to mine the high grade resource. It is "currently" 54Mtonnes and will take about 4 years to clear using possibly/probably the stoping method and the max output @ Telfer of around 2M tonnes per year.
Once the FS is done and dusted, Sandeep and Shaun will have a chin wag and decide if they are both happy to mine it from the next deeper levels using bulk caving methods. The earliest this has been hinted @ is 2028 before FULL production commences at mega output @ Telfer. The work requred for this is enormous! But you are right....commercial production will commence around May next year, or even much earlier (possibly even December 2021!!!) if Byrnecut chip away at the rock face at their phenomenal speeds.. This commercial production will be very small by comparison to the full bulk mining process later...
Z
No issues. I know lots of people do this work using their own time and effort. Many on here appreciate the effort.
As they have stated in the RNS, they are seeking mining permissions and approvals. Maybe Sandeep and Shaun have had that chinwag. If everything is good they will start bulk mining. The longer they wait the longer Telfer could be idle.
Hi Speedy - if they could come to an arrangement with Newcrest whereby the 5% would cover the repayment of the existing loan and all costs associated with any future mine development work which would leave us with our 25% regardless for the future then I would be all for signing it over.
Otherwise it would need to be a decent once off payment but with some sort of royalty to enable us to keep some exposure to the exploration upside that will be nowhere near known when the PFS is delivered in only 3 months time.
Either of these 2 options would be acceptable to me - if NCM want to just have a one off payment at PFS then it would need to be rather large and I couldn't see that happening up front without them knowing what is down there for definite - in this scenario I would be more than happen to retain the full 30% and I'm sure there will be many avenues of finance available to Shaun.
At the end of the day, I fully trust the board to make the correct decision on behalf of all us shareholders so we can reap the rewards of remaining patient for many decades to come.
GLA - Paddy
Hi Paddy, Speedy
My preference would be to hold on to the 30% for as long as possible but I think NCM will want the 5% and maybe more eventually, leading to Royalty payments.
The way gold and copper prices are going I don’t know how anyone could put a price on the 5% or the rest.
ATB:))
@wasred "The answer I got from the Internet for the abbreviation was
Hearing From God."
I can assure you that I have never heard anything from God about GGP or Havieron. But for now, I certainly am Holding For Gold and I hope my kids do the same when I pass my shares to them.
ATB
Hi Littlecrumbs, just a bit of fun before being bored out of my mind by another 0-0 draw. I hope no-one took it seriously. Yes there are some great posters on here allowing lazy sods like me to sit on our hands and congratulate ourselves on our brilliant investment decision. (Maybe we did get a little whisper from Him. Now comes the 'stay patient' bit for our bowl of cherries.
Bamps 22.13pm. When the 5% FMV is negotiated I would expect GGP to insert a clause requiring a review several years down the line to ensure we don't get short changed
GGP Help update is on me. - I only update it every now and again, but Zoros kindly sends me his updates. and I use that.
I will check my emails now.
Funnily enough, I have received an update, and have updated the roadmap.
https://ggphelp.co.uk/dates/
lebugue-addick
Agreed 100%!
And whether it is or isn't should perhaps give us a better idea as to who SD is really working for (us or NCM!)