London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Indeed and Shaun Day was talking to two insto's today.
From the presentation I get the impression that SD fully expects to find another Havieron on GGP tenements. The presentation gives me great confidence that the right people are moving this forward and irrespective of the daily sp this is a great investment for my portfolio. GLA.
can't resist these. 18.25 to 18.50 please
Tut, sorry for the double post. Again but sorted...
sabersamson - 17.5-17.75
up2nogood - 17.75-18.0
Serendipity - 18.0-18.25
invest2freedom 18.5-18.75 (you only get one slot, not four!)
Leddo - 18.75 - 19.0
max19 - 19.0-19.25
irishjonny - 19.25-19.5
Wasred - 20.0-20.25
fowldzy - 20.25-20.5
_dan_mar_ 21.25-21.5
strudel - 21.5-21.75
Roleybirkin - 22.0-22.25
Ruprah - 20.25-20.5
FC1865 - 22.5-22.75
205 lover - 23.0-23.25
DJENKS - 23.5-23.75
Silverhorse 24.0-24.25
Jonnie - 26.0-26.25
Bunky - your head and reality choices were already occupied. 25.0-25.25
Everyonesawinner - 28.25-28
Speedy - 200 - 200.25
11 am Median expected 3-year inflation rate last time 4.0%
https://www.marketwatch.com/economy-politics/calendar
Serendipity - 18.0-18.25
invest2freedom 18.5-18.75 (you only get one slot, not four!)
irishjonny - 19.25-19.5
fowldzy - 20.25-20.5
_dan_mar_ 21.25-21.5
strudel - 21.5-21.75
Roleybirkin - 22.0-22.25
FC1865 - 22.5-22.75
205 lover - 23.0-23.25
DJENKS - 23.5-23.75
Jonnie - 26.0-26.25
Everyonesawinner - 28.25-28
Speedy - 200 - 200.25
Silverhorse 24.0-24.25
Wasred - 20.0-20.25
Bunky - your head and reality choices were already occupied. 25.0-25.25
sabersamson - 17.5-17.75
max19 - 19.0-19.25
Ruprah - 20.25-20.5
Leddo - 19.0-19.25
up2nogood - 17.75-18.0
I haven't heard that said since about 1978
Mee too lol lol
What a brilliant entry price .
Shaun’s response to what 90000m of drilling could deliver up to June 2022.
Made me smile…..
Exactly and, importantly, there will very likely be a move for a significant amount of currently inferred to indicated reserves which would more than double the current indicated number in a heartbeat.
the updated MRE might not happen in December but early 2022....
Hi Southwesterner
You incorrect with your assumptions.
The highest grades are below the Indicated reserves.
The indicated reserves cut off was February 21 therefore the infill drilling which saw increases in both volume and grades of the sulphides are not included in these reserves
Also 342m @2g/t in the Eastern Breccia has the potential to add even more value to the ore body
There also appears to be a small evaporation pond by the WRL.
Q
It's value for money, like BOGOF. Take the hint.
See all you genuine holders later. :)))
Hope so Hydro
New hole N of the dune at Havieron. All drills still intersecting gold. Draw your own conclusion there.
Improvements to the road surface at Scallywag. It's going to see a lot of traffic in the coming decades.
Radar image seems to be broken.
Q
Waste of a question.
Would really benefit the short term share price if Shaun finally invests.
ha ha ha ha, nice question, Liam. :))))
£2 :D - Righto. Only way this is getting serious upside that fast is with another target being hit and HAV continue to be proven up whilst they do the works on what's been announced today. The DFS will not be till the end of next year and that's gonna be significant. I'd love £2 but come on Speedy :D
"Wrong again Southwesterner... trot off back to Anglesey mining mate..."
Looks like I hit the nail on the head, based on this response!
@ Lenz There will be a video available on the 'Investor Meet Company' website, but later.
The synonym of spectacular?
sensational, breathtaking, wondrous, thrilling, splendid, remarkable, striking, astounding, fantastic, magnificent, dazzling, amazing, astonishing, marvelous, stunning, dramatic, miraculous, fabulous, grand, eye-catching.
But we've had all that, so this is something very special. Do you dare to dream ?
Actually the market has reacted much better than I imagined to these results. Only a 10% fall. I did warn it would fall after these results, that was correct.
All the people saying "oh but we have a decision to mine!" - I mean come on, this was always going to be mined, this is a huge gold deposit, some of which is fairly high grade - it was never a question of whether it would be mined, just a question of HOW MUCH VALUE there is in doing so. To me the barrier is GGP's relatively high valuation, for just a 30% stake, means there has to be a great deal of value indeed to make this a good value proposition. I'm not saying its a bad value proposition, but people should really be very cautious indeed to assume that large returns here are nailed on.
Considering this PFS has taken the vast majority of the highest grade portion of Havieron - the SE Crescent zone - over $3 billion of metal, and turned it into an NPV of just $230-500m, which justifies between 7-15% of GGP's current market capital for its stake. Many analysts would have been expecting the mining of the SE Crescent zone to justify a much larger portion of GGP's current market capital.
Calculations; 14Mt @ 3.7g/t, 0.54% Cu = 73kt copper + 1.6Moz gold = $3 billion @ $1500/oz gold.
NPV using Newcrest assumptions = $228m, GGP 30% share = $68m
NPV using GGP assumptions (higher gold prices, copper prices, USD:AUD exchange rate) = $508m, GGP 30% share = $152m
So between $68-152m of NPV for the project in GGP's share. Compared to a market cap of £740m, or $1 billion currently.
So only 7-15% of GGPs current market capital is justified by this PFS. All the rest of the value allocated by the market is in the breccia resource, and as yet unquantified exploration potential.
Obviously as some of this is incremental production, costs will be lower, but the limitations of the infrastructure being built - using single decline truck haulage, means the mine won't be capable of a production rate beyond around 3Mtpa, and as depths increase, capability decreases. So to instigate bulk mining to make extraction of the breccias viable, a shaft will be required or a second decline with conveyor - and this will all take more time and capital.