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SD stated the announced data was a 'fraction of a fraction' of what is there. In official reports and presentations it is better IMO to present what can be confirmed as 100% accurate. In addition it is better to report on a staged basis which a PFS is, higher grades in each report. It is most likely that data from February has been held back so that the next (December) PFS will confirm a greater NPV and probably the one after that and so on. This way the progress will have a more beneficial affect on the share price. I'd prefer a consistent, sustained rise in the share price rather than the swings we saw yesterday. IMO The only ones who need to be concerned are the quick money merchants who have no interest in the development of this company. Long term holders will be rewarded but not to 2024 onwards unless they sell early. Even then many will have made a profit.
Good morning All
Stay strong and only sell when you have the price that’s right for you!
Good luck all
Hi Bamps
From a previous post you made under this heading you said
"My calculations suggest over 900m tons in the ore body
The indicated reserves are 14m tons so that’s about 1.5%"
I only did 'O' level maths so what would this make the SP?
Or would anyone else like to answer?
Thanks TT. There you go Majestic, the folk at Artemis have got one specifically for you “For anyone struggling to understand the Havieron starter PFS’.
“I’m all in” but waiting for the bottom - some folk eh !!
GLA genuine investors- TFG
Good points Antigua.
It’s very strange.
Thinking about the PFS, it does seem to have created some questions. No doubt it’s a big step forward, but would it have not been better to release alongside or at least with an updated MRE. I know they have answered the question in part in relation to timing, but the NPV does seem low and could be construed as a negative.
Also as stated, they didn’t have enough drilling to include all the MRE, yet we were told that all infill drilling was complete and they had moved onto growth drilling.
Well based on what's there rather than what's only been discussed so far I'll stick with my figure for both ;)
Are you wanting the SP figure based the initial PFS or on the over value once all is taken into consideration?
If the latter 50p in the medium term with a further increase is my guess
Jiffy...I believe we have a seat on the Board so any manipulation of the Haveiron figures would amount to collusion. That would be a serious financial matter and most probably illegal but would certainly open possibilities for shareholders to take legal action. I don't think either company would want to be involved in such a potentially PR damming strategy.
A couple of interesting pieces via Artemis Twitter.
Hopefully you can get around the usual subscription requirements via the link:
https://twitter.com/ArtemisResource
Thanks for sharing that exchange Spades. TT
https://www.australianmining.com.au/
Nice article
Greatland Gold plc (LON:GGP) has released Stage 1 Pre-Feasibility Study for their world-class Havieron gold project in Western Australia.
The study found 4Mt of probable ore reserves set for a mine life of 9 years. Throughput is estimated to be 2Mtpa.
Greatland Gold shares fell over 9% in early trade on Tuesday following the announcement.
Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: “This maiden Pre-Feasibility Study focuses on the South-East Crescent and should be viewed as the first stage. The study covers just a small fraction of the resource and the broader mineralised breccia system but is a tremendous first step towards creating a mine and unlocking our understanding and the value of Havieron.
The investment proposition of Greatland is compelling, with Havieron confirmed as a world class ore body, being developed with a Tier 1 partner in Newcrest and all within a Tier 1 mining jurisdiction of Western Australia.” ...
https://ukinvestormagazine.co.uk/greatland-gold-releases-havieron-pre-feasibility-study-results/
October 13, 2021News Tom Parker
Newcrest Mining has forecast infrastructure improvements to its Telfer processing plant as the company sets its sights on first production at the Havieron gold-copper joint venture project in Western Australia’s Pilbara region.
The Telfer processing plant, located 45 kilometres east of Havieron, is set to be a key player in the project, with Newcrest to transport ore from the mine to Telfer via road trains on an all-weather unsealed road.
Expected plant modifications include magnetic separation within the flotation circuit to reduce pyrrhotite levels in the final copper concentrate and a carbon-in-pulp (CIP) circuit on the flotation tail and cyanide detoxification circuit.
The plant modifications will form part of $529 million of the total capital expenditure Newcrest has projected for Havieron’s development.
Newcrest provided an update on its Havieron pre-feasibility study (PFS) this week, with the company board approving the progression of the project.
Newcrest managing director and chief executive officer Sandeep Biswas said taking the next step towards Havieron was a considerable milestone for the company.
“It is an incredible achievement that, within two years of starting the Havieron drilling program, we have been able to deliver this significant project milestone and demonstrate financial returns that comfortably exceed our hurdle rate, even in this first stage,” he said.
“The pre-feasibility study underpins an initial ore reserve estimate for the upper section of the south-east crescent zone which increases our confidence in achieving first production in the 2024 financial year (FY24) and triggers our entitlement to a cumulative 70 per cent joint venture interest.”
The announcement is independent of any added developments at Newcrest’s Telfer gold-copper mine, which has the potential to further buffer the company’s prospects.
“Notably, the study assumes that Havieron is the sole ore feed for the Telfer plant and does not assume any potential upside from the extension of Telfer’s mine life beyond FY24,” Biswas said.
“We continue to assess the potential for further open pit and underground opportunities at Telfer to extend its life and supplement production from Havieron in FY24 and beyond.”
In August, Newcrest announced its decision to proceed with the next cutback of the Telfer mine in Western Australia to underpin future operations at the site.
Newcrest’s board confirmed a $246 million investment may go ahead at Telfer’s West Dome stage five, requiring no additional permits, licences or approvals
Interesting post SAS,
The thing for me personally is, if the largest percentage of shares are owned by PI's then we have nothing to fear as we all know that over the next 2 years or so, GGP's share in value terms is very most likely to increase substantially in value given the drilling results that we already know about have not been yet been included in todays PFS/resources etc.
However, as regards a takeover???, would NCM want to act now or later when the value of Havieron has increased in value? This should be the guiding thought IMHO if a T/O proposition was on the cards.
Is there a price manipulation exercise going on and a control of the data being released by NCM to suppress the price in order to assist a cheap takeover?
I can't answer that question, nor can anyone else on this BB, but I readily admit it has crossed my mind as of late, and it is something that should not be totally dismissed out of hand. I dam well hope not!
On the other side of the equation, should NCM be interested in taking all of Havieron then that might attract other outsiders for our 30% share, but I do believe SD wants to retain as much as we can of our Havieron share because he knows the cash generated by Havieron will fund our share and the future development of GGP.
We are now at a very interesting point in this journey, given the status of our SP at the moment.
4!! Contact Steve and ask for a justification :D
After contacting Steve a couple of years ago, I email him quite frequently regarding mining stocks and in particular GGP
I spoke via email yesterday and posed this question to him.
Hi Steve, I would like to hear your thoughts on the rumours regarding Newcrest mining buying out Greatland Gold.
I know it was always in your thinking that at some point a buyout was potentially going to happen.
What I'm really asking for is for your assessment of what you think a fair price per share would be offered and accepted if one was to be made.
I have held this stock for several years now, but rumours are rife over here in the UK regarding a buyout at a massive discount to where we were last Christmas, when the share price was 38.5p per share.
After reading lots of articles and checking up on AIM rules, it appears that a share price offer of around 30p is being touted around. I personally think that would be a disgrace and I am hopeful that after tonight's PFS being announced you could respond to me by outlining your thoughts on this superb investment.
Best Regards
I then received his reply
Steve Todoruk
Mon 11/10/2021 23:11
I am very happy with today’s news. I don’t want to see a take over anytime soon when there 4 million ounce deposit is wide open for expansion. The million dollar question is is there five, six, 7 1/2, or 10,000,000 ounces of gold in this deposit. Only future drilling will tell. If Greatland is sold out now based on what is known they would be giving away the farm.
ATB
Steve
Quite telling on what he thinks GGP should do.
Where am I criticising? Dare to dream… I’m here aren’t I?
I watched one of Rick Rules vids on YT and there was an option to send him your portfolio and he would rate it, below is his response when I sent him just GGP.
"Rule Investment Media
Hi *Me removed by myself,
Thank you for the honor and opportunity of grading and commenting on your natural resource portfolio. The grades are one through ten, with one being best. Please understand that these are company rankings, rather than investment recommendations. I believe that investor education and outreach are the most honest and effective forms of advertising, and marketing.
Please don't be discouraged if you find my rankings harsh...because they are! I've given out less than a dozen "one" rankings in three decades of analyzing resource stocks. Note too, that these rankings are snapshots in time, subject to rapid change, with new news, different markets, and changing share prices.
I've asked Mr. Steve Todoruk, an employee at Sprott Global Resource Investments, to contact you to answer any further questions you may have. Mr. Todoruk has had a long and successful career in mineral exploration, and mineral exploration finance. Originally from Canada, Mr. Todoruk was a consulting exploration geologist, and president of several public junior exploration companies before I was able to recruit him to Sprott.
We look forward to assisting you with your resource portfolio.
Sincerely, Rick Rule
Please note that rankings and comments provided herein are not investment recommendations. Specific recommendations are available to Sprott clients. These rankings are numerical, 1-10, with 1 being best. Note that the criterion is risk-adjusted reward, so that higher risk companies may still enjoy a more favourable ranking than lower risk companies, although they may be less suitable for individual portfolios. Comments accompany rankings where appropriate. Both comments and rankings are “snapshots in time” subject to rapid and unannounced change based on news or market conditions. Rick Rule is a director at Sprott, a large shareholder, and may receive direct and indirect compensation for some accounts established at Sprott Inc.
Your Portfolio
Company Ranking Comments
Greatland Gold plc (LSE:GGP) 4"
Unimaginative - why constantly criticise ? Unimaginative by name, Unimaginative by nature. Don't you ever dream What if ?
Joe, you’re not allowed to be a critical thinker. You have to be a ramper or deramper that’s all that’s allowed I’m afraid
Blog, try reading with your sharp mind then, only the latter part of the post was directed towards yourself.
If your looking after your investment you might want to take a long sabbatical away from this bb as it clearly doesn’t suit your needs…..unless you’re not a single PI acting on your own behalf, like myself. I tend to think you’ll be posting frequently from today though…..
GLA genuine holders - TFG
Timeforgold, I do not and have never claimed to be a big man ( your words) but i do have a brain and a sharp mind that likes to question where questions are not welcome, I'm not a follower or a trader or a weak holder, I'm not ramper or deramper, just someone trying to look after a sizeable investment if that's ok with you bigman
Today's RNS is for us who are willing to stay for next 6-18 months or even longer. Traders and weak holders create panic.
————-
Xataxx, you just traded it. So are you a trader or a weak holder ? Beggars belief what some people do and then post.
Why does Blog think he/she is such a “Big Man” of this bb overnight ? More of a minion then the film he/she claims to love imho.
Stage 1 done, 9 drills running, 365 day operation - just another day. Quite right SaS, outer edge of the jigsaw forming nicely on a 3-5-9 year puzzle that’s already many years in the making.
GLA genuine LTHs - TFG