PYX Resources: Achieving volume and diversification milestones. Watch the video here.
These guys: https://ddh1drilling.com.au
Spratt - I'm pretty sure Gervaise said in an interview he did months ago that he thought NCM had sufficient drill data to calculate the MRE, so I agree this could arrive very soon. Hopefully when it lands, it will confirm that we have >10m tr oz for starters, with lots of growth to come.
Spratt - I agree with your view. I think GGP are constrained as to what they can release based on NCM's set reporting timescales. Hopefully this signalling by GGP will help create a good base in the 8s ready for the next rise when Scallywag drilling is announced.
Jambo - you are probably correct but there's always a small risk of something left field like an EUA style extended suspension (this is AIM after all). I think that's very unlikely here but I was overexposed so sold a few so I would have no worries whatever happens. With hindsight, I'd have been better off holding given that the price is higher now than when I sold and we've just had an excellent update.
Later this year, my guess is that we'll be taken out in a cash and stock deal by Newcrest, in a similar style to Sandstorm Gold's acquisition of Mariana Resources in 2017. The recent raise by Newcrest would provide sufficient cash for such a deal. By funding part of the deal in shares Newcrest wouldn't need to return to the market for an additional raise. If this happens, I agree with you that shares will not be suspended for long and there will be an opportunity for shareholders in GGP to sell after the offer is announced but before its effective date (if they did not want to receive the Newcrest shares). In this situation, I would take the Newcrest shares and hold these to for a while so I could benefit from exposure to a gold major and spread my capital gains tax liability.
Thanks for the clarification hydrogen.
Sturfc54 - I did not sell yesterday and am not selling any of my remaining shares. I was very happy with yesterday's announcement, and I'm looking forward to Callum's investor update next week - www.eventbrite.com.au/e/amec-investor-briefing-6-may-2020-tickets-103310510518?
Haha Tiger, I remember your incessant whining about HUM. Your knowledge of the gold space then was non-existent, and I see you've not made any progress since. How much did you lose there and blame on Dan Betts? Google "Cadia" and try to educate yourself.
Condorlini - I've not revised because it assumed the deposit was shaped as a basic tube, as used by Sprott in their note, and I'm not sure whether this is especially useful now, in light of the recent 3D model of the deposit from latest drilling. Let's see what happens on 29th and might revise then.
MFU - It's a case of belated risk management on my part - I had very little available free cash and most of my realisable funds are invested in GGP. In light of the current economic situation, I thought it prudent to increase my cash reserves. Whilst I am extremely bullish about the news next week, I have a slight concern that shares could be suspended sometime soon pending a takeover approach. This would obviously be a positive in the grand scheme of things, but it would mean that it may not be possible to realise cash during the suspension period. By selling a small part of my holding now, the cash is available to me in case of emergencies.
I still hold >20m GGP shares and I'm not planning to sell any more before 29th. I am extremely happy with this investment and plan to hold until takeover (whenever that may be).
MFU - these are small trades in the scheme of things. Several of those 500k sales today are just me rebalancing my funds. I went very heavy into this between 1.25p - 1.9p, so just taking a slice of profit off the table as I was hugely overexposed. I still have a very significant exposure to GGP as a percentage of my net worth and am keenly looking forward to 29th. Good luck all.
I reposted my comment in chunks, leaving out the reference to the author, and they've allowed them to stay (so far). The quality of the article really irritated me because the author claims to be some award winning journalist and industry specialist, which is an appalling reflection on her work capabilities. As I've got time on my hands, I've sent a complaint to the website, with a cc to AIM Regulation, pointing out they are not adequately disclaiming the article as a non-factual opinion piece. I've asked them to remove the article or correct it. That's all from me. I'll let the knowledgable ones take back over. Thanks again to Paddy et al.
I posted the following comment on to The Armchair Trader website and the site deleted the comment!
Hello Vanya, I read your article with interest as an investor in Greatland Gold. As an "award-winning financial journalist", presumably you would be amenable to revising your article to take account of factual inaccuracies in your original piece? For example:
1) "it is already considering selling its stake to Newcrest". This is not correct. There has been no public release or comment by the Greatland management that it is considering selling its stake to Newcrest, nor has Newcrest suggested that it will buy out Greatland's stake.
2) "Telfer itself doesn’t refine its gold on the site but only roughly processes its raw material into a far cheaper substance, a gold-copper concentrate". This is not correct. Telfer produces gold doré which is refined by the Perth Mint. The value received will be spot price, less a small margin for the refiner. A secondary output is the concentrate, which is exported.
3) "Newcrest recently conducted two drills on the site and was sufficiently enthusiastic about the results to initiate two more and then another two exploratory drills.". This is not correct. Newcrest has been publishing results twice every quarter, and presently has eight drill rigs operating on site continuously.
4) "to build a deep mine the ore needs to exceed 2.5g of gold per tonne of raw material". This is not correct. Current block-cave mining techniques can profitably mine much lower grades. For example, Newcrest's Cadia East underground mine with mineral resource 700m to 1,500m below the surface, with blended average resource around 0.40g/t Au and 0.26% Cu, operated with AISC ov
6) "The mine is still relatively far away from any export infrastructure and the end product will be the relatively cheap gold-copper concentrate". The Havieron site is just 40km from Telfer infrastructure, which has it's own landing strip - product can be very easily exported. As previously mentioned, the article erroneously overlooks the gold doré produced by Telfer and sold to the Perth Mint - the value received will be within just a percent or two of spot values.
Double first from Oxford yet can't spell? Standards obviously not what they used to be.....
Incite: encourage or stir up
Insight: the capacity to gain an accurate and deep understanding of something or someone
Decent interview with Brent Cook from last week where he touches upon Newcrest's capabilities to mine at depth and the how companies working to delineate economic deposits are worth a great deal of money, especially given the difficulty finding new large deposits these days - very relevant to GGP, reaffirms the potential for a great deal of further value here and worth a watch:
https://www.youtube.com/watch?v=FVtZcXTeBZE
TomE,
I modelled a few scenarios so I could have an idea roughly what share price might be achievable as drilling results are released.
https://drive.google.com/open?id=1BxhC0qy0HF2lE2O5lnZcZLLQ4BHA4dDC