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Agree redirons , my gold miner petropavlosk listed on the moscow exchange last year , doesnt seem to have made much difference , although trading is at the same time , which would differ for ggp
Kevman, I don't agree with your assessment of what happens when SD opens his mouth, and he has eluded to the potential of an unwelcome buyout or takeover bid at this stage ( not the agreed deal or expected future buyout by NC) in several interviews he has referred to it almost highlighting a vulnerability at this stage and SP, although it was an invitation to come and get it, as I say he makes me nervous.
Thanks for the response Stellabob but not sure it answers what impact you expect there to be for GGP - more Aussie buyers is true on their homeland, but 88E had Aussie buyers courtesy of ASX but it didn’t seem to impact the SP much. I’m curious as to whether I am missing something - I can see the benefit of moving from Aim (unregulated) to say the FTSE (regulated) but that’s not easily done and probably costs more than a junior miner would entertain. Anyway it is what it is - just not convinced a dual listing on ASX will achieve much for GGP once it had settled in?
At the end of the day, whether you think it's economical or uneconomical is besides the point, because it's the fact that we're seeing less crackle breccia (averaging around 0.2g/t) being replaced by significantly mineralised cemented breccia (1.1g/t but improving significantly) which is important and making a material difference to the economics of the mine. I said it multiple times previously, and the improving boundaries of cemented breccia was what I was trying to ask bamps the other day. When you got feisty about the language being used and started explicitly attacking me, it was a disproportionate response and I think you tried to argue a redundant point. In terms of the technicalities, I still think that if GGP started drilling and only hit 0.2g/t, NCM would never have gotten onto a JV, they would have never tested the depths of the ore body and we would never have mined it. The cemented breccia and SE crescent is what is truly economical, and SD said the same when he made it clear that those are the drill targets, not the crackle.
Hello hydro,
I did hear the question in the presentation. I take it that you asked, in which case thank you because it was a good question. I did hear him say that the crackle "might run at, you know, 0.2g/t". It sounded more like an estimate rather than something that has been calculated (they haven't done any kriging for the crackle so that makes sense), but whether that true number runs at 0.15 or 0.25 (around that 0.2g/t number) I think based on his answer, it doesn't really matter so much. His point about them not focussing on that material is indicative of it being uneconomical. I do imagine there are areas where pockets of crackle breccia are running at higher grades (most likely near the boundary of cemented breccia). But based on the drilling, it seems like it's mostly barren. If it were economical then it would be part of the focus of the drilling campaign and then the drill programme would make more sense if they just drilled through the ore body in a regular grid pattern with the cores oriented appropriately (quite similar to how De Grey and antipa drill) in order to systematically achieve the drill spacing. They'd need to get that tight drill spacing to do any estimates which could be used for NSR calculations and this isn't something they have said they plan on doing.
I was speaking with someone about this and a point they made was that the metallurgy would make the lower grade ore less optimal to extract because the processing plant will be designed to have optimal conditions for the higher grade ore, meaning the conditions for extracting gold from low grade crackle breccia would be sub-optimal and a significant amount of that auriferous crackle material will get lost in the process. That's not to say that we wouldn't get some gold out of the crackle whilst doing the bulk mining (SD said so himself that it's nice to get a little bit of mineralisation if you're taking bulk material). But, when you have ore which is for example 0.2g/t and other ore running at around 1.1g/t (breccia inferred), then that breccia material has 450% more gold in it, and that difference has a material impact on the recovery rate. That's why they've decided not to blend the telfer open pit ore (0.44 and 0.64g/t) with the SE crescent ore (3.9 & 4.0g/t). That case is more extreme with the difference in grades being 490-790% higher, but the principle is the same, where the lower grade ore would be extracted in sub-optimal conditions and produce less gold.
(continued)
I also find it slightly un-nerving the references to Bull / Bear and being 'taken out'
As if SP / valuation is making us vulnerable.... I obviously have no idea whats going on
Apart the above sitting uneasy with me...... all of his other rhetoric very upbeat and impressive.
Award = Yes
Catalyst = No
I think it is opinion, but they already know the answer. GGP wants to keep the 25%…they haven’t even agreed a price on the 5% yet. They will also want to keep the Juri JV progressing too. And progress our other targets.
I think that Sandeep knows he can’t get anything off SD on the cheap, so all to play for.
GGP as an emerging mid-cap miner
Not sure what you don't agree with but to follow from what you have said, i don't think any of us who have been invested before or since the JV are not aware that Newcrest will most probably want to go alone and want us out of the picture at some point.
i believe that when all of Hav is properly assessed and our other licences are up and running, we should be worth north of 11bn. remembering we have not given anything of the others away yet. dont forget how much we were looking at just on EG all that time ago before the bit even hit the ground at Hav.
You are more than welcome spy believe me.
So, as with many of you, I have enjoyed the exciting news of our CDF win and watched the GGP secment (timestamped link: https://www.youtube.com/watch?v=6lGaV9vbH5c&t=2838s) and final award.
This is all great stuff, but Terence Van Der Hout mentions several times in the interview, and once in the final award section, that he expects a takeover of Havieron by Newcrest. That's not necessarily a surprise, but I did note he specified the *project* and not GGP the *company*.
I'm perfectly happy to admit that I'm not educated in the ways of high-commerce, so does anyone have any insights as to exactly what this process may entail? Presumably some sort of buyout of the remaining 25%-30% share of the project, rather than a company takeover, the price of which to be decided by the GGP BoD in accordance with the wishes of the shareholders. Have I got that right?
My second point is that in the final section of that linked video, as GGP were being given the award, he again alludes to a takeover (at 52:40) then Willem Middelkoop interjects with there being great upsides and stating "they'll keep 25%" (at 52:53). It's that last interjection that confuses me. If Newcrest takeover Havieron and not GGP, how are GGP retaining 25% (or any % for that matter)?
This is not a deramp by any stretch of the imagination; as long-time posters here know I am heavily (heavily for me, at least!) invested in GGP and very much a believer in it; rather, this is a genuine thread to discuss both what was said in that presentation and the possible outcomes of it for the future.
Hi Starbright. 30% of a 20million (may be less may be more) oz find say 6million ozs. Using £700million MC and AISC of $700. All very loose and can be adjusted either way due to FX. As i said it is just an exercise to show the leverage achieved with mining stock. ATB Speedy
Kevman, sorry I don't agree, every interview I have heard him in over the last few days sounds like he is encouraging a takeover attempt, his wording is always very similar and no accident, he makes me nervous.
Redirons - 88E are oil explorers which makes a difference - as Aussies have gold in their veins! When the magnitude of this discovery becomes general knowledge- I'm sure the general public will want to buy-in... but they will not find it easy, if we're only on AIM.
Cheers StellaBob
Very happy with that, well done all
Goldenl has just sang one of my favourite songs! Currently, all we seem to hear is the MM's Anthem:
"You put your left leg in
You take your left leg out,
In out, In out,
You shake it all about
etc"
Let's hope we hear more of our own favourites very soon! GLA
On an absolute rip. If only we had some.....
GLA
Chase
Willem Middlekoop at Commodity Discovery Fund owns a lot of shares.
He is looking for huge gains so I reckon we are in the right place at the right time.
Greatland could have won last year but were not quite ready.
Yet more good news - and things have never looked better.
Might be a good idea to send a photo of the award to them
mm, s, and our brokers, just to let em know that we also know what's to come
:-)
Funny how LSE seems to be broken after Shaun's interview....................
They must announce this by RNS, and are probably working on one as I type this, either later this afternoon or first thing tomorrow, plus Newcrest will probably make an announcement on the ASX. They should be getting the news out there, as this is a big defining moment in the GGP story, that we're now officially recognised as a world-class, tier-1 gold/copper discovery!
Hi Tymers/Stellabob - can you inform what you believe a dual listing under ASX will do for the GGP - I have been invested in 88E for c. 5 years and they have been dual listed on Aim/ASX all that time and I can’t say I’ve noticed it making a hapeth of difference. The SP still goes down after good news - you can get an increase on the ASX that doesn’t then reflect the following day on Aim - they tend to even up over awhile so I am just wondering if you are expecting something that may disappoint you and others? Genuine question.
Indeed Silver :)
GLA MFU
No it is the quarterley exploration update from Newcrest.