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Hi Hydro,
I decided to do some hiking in Iceland once and in a (fleeting) moment of being sensible bought a map. I was confused as hell when I perused it in my tent and tried to work out how to get up and back down high bits. There seemed to be very odd semi-circular patches where there were no contours but just numbers - like "1973" or "1955". I couldn't make head nor tail of it, then I realised there were similar red patches with other numbers like "1994".
It was only when I went hiking did it all fall into place - these were the dates of lava flows labelled by year. Black meant you had a chance of crossing it without melting your boots. Anything red was egg frying territory.
Unfortunately lava being lava meant you couldn't walk in a straight line, couldn't see more than about 20yds to the next lump, and everything had had no time to erode and was as jagged as heck.
I tried to cross one bit from the 50s to climb up a local low hill. I gave up when, having tried to traverse the lava for about twenty minutes, I went up to a high bit to see how much closer I was to the hill. It was nowhere on the horizon in front of me - I had been turned 180 degrees whilst trying to get up / over / around / back / forward through the lava.
It took me another week to work out that there is so much iron in Icelandic rocks that compasses are useless - but that's another story from when, due to a misprint in the bus timetable, I was hitch-hiking through their eastern desert and I worked out I was precisely 7.5km west of the ring road.... which was actually at my feet as I sat on a roadside boulder wondering if I was going to even see a car that day.
I look forward to your update Strudel. I meant to comment on your previous post about exploration strategy for magnetic/gravity coincidence targets. I essentially agree with the exploration strategy. Magnetic/gravity coincidences don't always correspond to a mineralised discovery and can purely be a lithological response, but they are targeted because they can indicate precipitation of iron oxides, carbonates and sulfides. They indicate this because magnetite/pyrrhotite presence is indicative of that process. Like I said, it can also be a result of magnetite grains originating from basement rocks, being transported to near surface. Contact points between different types of rock can be magnetised because of this. Some of the drill targets we've come across have been a result of the latter.
I mention of havieron not being related to the magnetic response and I'd strongly disagree. Havieron is related to the response through the way the rock strata has folded, which would have helped in its formation. The pyrrhotite at Hav is likely to have helped as well. I've said before, but the magnetic response can suggest secondary processes that can be an indirect way of finding an ore body. Lower portions of Hav like the eastern breccia would not have shown up in the magnetic response because it's too deep to give a strong response from surface and not because it can't give a magnetic response. The targets around Havieron may not show a magnetic response for a host of reasons. The targets they're looking at might be too deep, they might be looking at zones where they expect magnetite is consumed, etc. In all cases of eastern breccia and targets around Hav, I expect them to have done downhole EM and gravity surveys as well as drill testing. They said they did drill testing of the eastern breccia and I expect a downhole survey of Hav (a large subsurface conductor) showed them how deep the system goes in terms of the depth of the conductive body. That doesn't mean it's mineralised but I would say it's more likely than not becasue the grades have improved at depth. Same applies for the targets around Hav.
Bamps, sure - the original question was, to paraphrase, 'how much of the anticipated MRE update is included in the SP of 22p'. My answer was 'probably all of it, and possibly more', based in part on comparison to the Canaccord broker note, which had 25p for 11moz mined.
In other words, the GGP SP appears to be higher than one might expect for its current stage of development – the SP is ahead of the development curve. When the PFS is issued, the Hav NPV attributable to GGP will probably be far below the current GGP mcap. I believe that's already acknowledged by some. Referencing the original question, would the SP still be higher than expected if we included the anticipated December MRE? Yes, probably – although the 22p mcap and MRE-updated NPV would of course probably be much closer. However, you would normally expect to be trading at a discount to NPV before development, rather than at >100% of NPV. Also bear in mind that while the headline MRE figure may be 10moz in December, the majority of this will probably still be at Inferred status.
One might conclude that GGP runs with a valuation premium driven by a combination of its advantageous fundamentals and sentiment. As long as these hold and GGP doesn't fall back to a more traditional valuation level, then there's no issue. No doubting the long-term potential of GGP, but the SP could be argued to be aggressively positioned at this point.
Perhaps I should be flattered that you think my influence is such that I'm part of a conspiracy, but really I find eloquent balloon blowers such as you tiresome with your constant BS designed to fleece noobs out of their money. However, I should be thankful! Keep pumping the sentiment balloon, don't want my investment deflating!
Trumble is about right, but Hydro is also about right. They're just talking about different timescales. Glenn Hodl.
I wish I had found GGP at 18. Good luck to you. Well done.
Sitting with g and T in hand, waiting for the 8am Telford B train to pass, eyeing up the ore, as I and other GGP Investors await a mine tour at Havieron. This is after catching up on sleep of course at the one horse hotel, telfer village.
Most of us of course flew in first class ( we can afford to now), into Western Australia and are keen to explore local wonders. ( minus the snakes like ‘the big brown) of course. Just bragging.
Hang on, Here comes the train, full to overflowing with ore. You ought to be here, we can see gold, visible to the eye as it passes. Thirsty work this, think I will order another g and T. Will share photos on return.
Hope you Billy no mates, trolls are enjoying your daily poisonous diatribes on Ggp b.b. I am feeling a tinsy bit sorry for y’all. As you troll away at 5£ per post while we enjoy our day here in the Pibara watching the gold we invested in go by.
This week with like minded people, should be real fun. Most we know by name, some are well connected, and most are caring, sharing people.
A few hop aboard hangers on trolls have paid economy to travel with us, but of course everyone knows these dingos are really pests of the first order.
Will that effect any of our tenements? Before I get slammed I am joking!!! Amazing what nature is capable of.
And if red is actually your favourite colour try this:
https://apps.sentinel-hub.com/eo-browser/?zoom=13&lat=28.60871&lng=-17.92969&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2021-10-10T00%3A00%3A00.000Z&toTime=2021-10-10T23%3A59%3A59.999Z&layerId=4-FALSE-COLOR-URBAN
The La Palma volcano is busy creating a second lively stream of lava, on a more northerly route, that looks likely to reach the sea shortly.... the live webcam footage is also fairly hypnotic, specially from a safe distance.
So excited . I've soiled my additions. Thanks to the gang. Just keep expectations in check. It will arrive in its own time, not necessarily ours.
....at least we can all look forward to a new radar image from Sentinel.
I did have a look at Rudall (or what I think is the bit of stripey red outback that is Rudall) when the last daylight image came out and couldn't see anything that looked like drilling activity.
Others may spot things that I can't.
Apologies if this has already been posted - I saw that Paddy had referred to it in one of his tweets but I’ve only just seen the whole article. Personally believe it to be a bit sensationalist/controversial but it at least reaffirms that market sentiment sees GGP on the up again. Read down the page to see the piece on GGP.
https://www.proactiveinvestors.co.uk/companies/news/962705/mining-sector-star-of-next-week-with-greatland-gold-publishing-key-study-rio-tinto-updating-on-esg-plans-962705.html
Actually, I prefer Precocious Metals!!
Good post hydro. Let's hope for once the SP movement reflects good news. The mantra of sell on news needs to change and this could be a golden (pun intended, sorry!) opportunity for the market and SP to react logically.
Keep those posts coming please!
ATB
Yes I can run with that SRe and Davidimus - I was going back to my Chemistry days.
Thanks Hydro, that all sounds great.... And how do you think that translates as far as The SP is concerned?
Small typo Hydro - do you mean phenomenal ROI rather than RIO - great post all the same - thanks.
I was going to say precious metals, or at least that's what I've always understood PM's to mean i.e. gold, silver etc
Zoros your post of 18.51 writes of an MMRE. Does the first M represent, Monstrous, Monumental, Mammoth, Massive, or another?
Speedy. - 'any one with spare cash should use this opportunity to take a position in the PMs space. ATB Speedy'
Speedy excuse my ignorance but what is ' PMs space?'
Trumble your posts are very illegible and not very well put together.
Sounds like you’ve done some research but it’s quite obvious it has not been enough and is now bordering on the misleading.
Explain what you’re trying to get over cos at the moment you are completely incoherent
I'm not saying it will - but it might, and that's the risk. As long as the valuation premium persists then there's no problem.
Bamps ...... a great summarised list.
I do not understand why so many posters get so engaged with potential takeovers an buy outs.
Let alone Hav., none of us have the faintest idea whether the remaining prospects are worth $1 or $$$50 billion. We may have a few years to wait to find out , but I would wager it would be nearer $$$50M .
And nowt will happen until we have a reasonable idea of that calculation. Step one on Tuesday morning, but still a very long and rewarding way to go.
Roll on Monday , Tuesday , Wednesday. Looking forward Speedy to a Prosecco shandy with you.
Tig
How can you possibly continue to hold if your of the opinion GGP SP will be less after the PFS.