Member Info for PaddyGall

Steady as she goes - NCM quarterly is out in less than 2 weeks and soon after that the NCM half year results when we will hear the interim CEO - Sherry - give her first address as NCM CEO.

Juri & Scallywag results soon to drop also - lots of possible catalysts to come.

ATB - Paddy

Just interested in your theory @itsouthere. How exactly do you see that working out?

What's the gameplan and exactly how is it going to be implemented?

Thanks - Paddy

LinkedIn says they have 18 employees

https://www.linkedin.com/company/greatland-gold-plc-ggp-/people/

I can see at least 12 between LinkedIn and the GGP Website who are not on the board

https://greatlandgold.com/about-us/board/

ATB - Paddy

Performance conditions for LTIP as follows - (I assume that means Long Term Incentive Payments)

"The LTIP award each year is based on conditions set by the Remuneration Committee, which are against demanding targets, including total shareholder return vs a selected benchmark. All unvested performance shares are subject to full or partial clawback, at the Board’s discretion."

GLA - Paddy

Correct @LoggyLogbot - all these options were awarded between 2016 - 2019, both the company and SP have improved since these were awarded so job's a good 'un in my book.

@Blantyreboy - the remuneration policy & framework is also set out in the Annual Report. I believe Shaun has tightened things up considerably since he has taken over and he wants all the employees to enjoy alignment with the shareholders. If we are to grow into the company that both he and we want then he needs to attract and more importantly retain the right sort of people IMHO.

ATB - Paddy

pressed - send too early

Shaun Day has

5m exercisable @ 25p that expire on 6th May 2026

That's it for outstanding options in the Annual Report but there have been new one's granted to the new directors since then which amount to 40m @ 11.9p

ATB - Paddy

@Blantyreboy - All the information is there in the Annual Report on page 34 -

https://greatlandgold.com/wp-content/uploads/2022/10/GGP-Annual-Report-30-June-2022.pdf

But to summarize -

Borelli has

14m exercisable @ 2.8p that expire on 18th July 2023
2.5m exercisable @ 2p that expire on 6th September 2023
2.5m exercisable @ 1.4p that expire on 6th September 2023

That's his 19million left as referred to in today's RNS

Latcham has

1.5m exercisable @ 2.5p that expire on 25th September 2023
1.25m exercisable @ 3p that expire on 25th September 2023

Shaun Day has

Just checked the Annual report and these options were all due to expire in either Feb, April or March this year - looks like this might have been their only window for director dealing.

What does that tell you about potential newsflow over the coming weeks? - Paddy

Blah, blah, blah - did you seriously think that none of these options would ever be exercised when they have been in the money.

If they had exercised them at 35p and had to sell only a fraction to cover the costs (thereby keeping more) then would people have been more happy? It was a fact of life that these options were issued when they were and now the directors are entitled to exercise them - simples.

At least a lot of the cheaper options have been exercised now, when the newly issued ones at 11.9p are exercised then we will see meaningful amounts of cash flow into the company coffers.

It was always going to happen - it's now done and behind us, let's look forward to the next news, guaranteed NCM results in two weeks and possibly Juri / Scally results before or soon afterwards, lots to watch out for.

ATB - Paddy

19.2 million and 5.6 million - adds up nicely to that 24.8 million trade that we saw last week.

I would imagine it was handled by the brokers and went straight into a sticky II position. I'm sure they were glad to hover them up at those prices.

Borelli & Latcham don't have many options left to exercise now and most people will have included these options in their fully diluted calcs anyway.

All coming together nicely - Paddy

Copper futures back above $4/lb for the first time in over 6 months too - Hmmmmm

Hi Jerry, 100% agree with you - the day to day stuff is frustrating and while the SP gets people all upset and riled up, if some of the macro themes that are being proposed by people in the #fintwit community come to light then commodities (and hence companies like GGP) are going to become a much bigger part of everyone's portfolios in the coming years.

I have just read through the latest offering from Zoltan which can be found here -

https://plus2.credit-suisse.com/shorturlpdf.html?v=5hig-YP34-V&t=-7k6igsca7azmsnjxid59q5wex

Heavy going but definitely worth 10 minutes of your time. GGP is good value going forward on it's current fundamentals but if some of the macro themes play out then commodities will become more and more important - indeed in that interview with Sherry, she says that Newcrest would like to see their revenue increase from 25% currently towards 50% and even higher. She also mentioned in her keynote speech that Nickel / Graphite and other battery metals will become more and more important over the coming years - seems she's been listening to Twiggy & Wyloo!!!

Here's a quote from the Zoltan piece -

1. 60/40 won’t cut it anymore and should be 20/40/20/20 instead,
with the weights representing cash, stocks, bonds, and commodities.

So Willem Middelkoop has picked up on this today and tweeted the following -

https://twitter.com/wmiddelkoop/status/1612004780037050374?s=20&t=DLeqapRYFv4HB83CboNbdQ

"During the last decade, most institutional investors had LESS than 1% invested in commodities. Zoltan is highly influential among institutional investors. This change in strategy will take years to unfold. A long-term commodity bull market ahead .."

So if institutional investors currently have around 1% of their portfolio's in commodities and if the new thinking will be to increase that proportion, then the outcome will be obvious.

As Jerry says - this is super big picture thinking and will takes years to play out but Gold, Copper, Nickel and other commodities are going fly and the control of the supply of them is going to make some companies and people very, very wealthy - IMHO.

All I can say is I'm more than happy to be invested in a company with the prospects that Greatland have and I couldn't think of any other person than Shaun that I'd rather be in charge over the next few years. Timing is everything and we now have the project, the CEO, the BOD, the financing and the team in place to really move to the next level. Again time will tell us if it all comes to pass.

GLA - Paddy

Almost impossible for anyone to have a lowball takeover bid accepted by the GGP shareholders IMO.

Look at the latest Annual Report - Page 21, tot up the percentages of shares held in "Nominee" accounts - ie PI's like us. It comes to over 80%. I accept that there have been additional share issued since then that will have diluted that slightly but it's still a very big PI presence on the share register.

https://greatlandgold.com/wp-content/uploads/2022/10/GGP-Annual-Report-30-June-2022.pdf

Unless an offer is recommended by the board (what eye-watering sum would they agree to) then there is not a cat in hell's chance of it being voted through IMHO.

Soon enough there will be anticipated news and actual news that will take care of the traders / shorters who are making their 10/15% on the movements of GGP - remember they are still blasting & digging their way to the orebody face every day while people fret over these daily moves.

GLA - Paddy

Interesting discussion on an Aussie mining podcast discussing GGP/NCM/Wyloo and their involvements at Havieron.

https://open.spotify.com/episode/43EFuFVVUOaCdcvSKqtoqm?si=U4VnkcDATOi8xELW7310Ow&nd=1

Starts at about 2:20mins in.

ATB - Paddy

Love your confidence @napthman1 but I think the best weekly rise we had in 2020 was about 6.5p so I can't see 6-8p daily rises but WTFDIK.

Great to see some positivity all around - just need to sit and watch it all play out now. Everything has been meticulously put in place by SD & the team, looking forward to the coming months.

GLA - Paddy

Pretty confident that the MRE upgrade "could" be of a similar 43% upgrade as the last one.

I'm guessing that's using conservative numbers again but still would take us up to +9Moz of high grade material.

Also highlighted the mine life - it will be long enough to go through 2 or 3 gold/copper cycles and that's just the 3mtpa SLOS operation. If the bulk mining gets the green light in years to come then they'll still be mining this when we are all pushing up daisies.

Exciting times - GLA Paddy

https://twitter.com/RoastPR/status/1610258036395745283?s=20&t=aYZd_DGi0KL0xxjL7jHJMA

Just released on Twitter.

ATB - Paddy

Good sum up of the preparations that have been carried out this year Bamps and as Panama said yesterday the foundations have been well and truly laid.

It's surely been a long and arduous 24 months but it's great to see that many, many PI's here have stayed the course and as we move inexorably towards the orebody, all the necessary conditions to build a proper company have been sorted by Shaun and the team.

Here's to a very happy, healthy and prosperous New Year.

There's a lot on here who will be glad to see the back of 2022 for personal reasons (including me).

All the very best - Paddy

Hardly a secret SAS, his NED positions are listed in his LinkedIn profile.

Doing a bit digging I found that NCM/GGP needed to submit an annual report as a condition of their mining lease.

I found the WA government website that allows you to view the report.

https://ace.dmp.wa.gov.au/ACE/Public/ComplianceSubmissions/AerPopupSubmissionPublicView?id=49781

"The Havieron Project (the Project) is a greenfield gold-copper deposit operated by Newcrest under a farm-in agreement with Greatland. The Project is located within the boundaries of the East Pilbara Shire in the Paterson Province, Western Australia, and is located approximately 45 kilometres (km) east of Newcrest’s Telfer Mine.

Stage 2 of the Havieron Project is currently in the Feasibility Stage with approval expected late 2023. The Stage 2 Mining Proposal amendment is expected to be submitted in early 2023 to allow concurrent assessment whilst the EPA assessment occurs. Stage 2 covers the underground mine development (below 400mbgl), an infrastructure corridor to Telfer and additional infrastructure (waste rock landform, evaporation ponds, paste plant, etc). Amendments to Telfer’s Mining Proposals are expected to allow processing of Havieron ore, deposition of tailings in addition to use of Telfer waste rock and tailings.

Description of Havieron Mining activities in the reporting period (1 Oct 2021 – 31 Aug 2022).

Continuation of single heading decline.
Commence excavation of surface vertical return airway shaft.
Completion of temporary raw water storage facility (Turkey’s Nest).
Commence construction of Hypersaline Cell 2 and waste rock dump containment bund."

So the Stage 2 Mining Plan amendment will be submitted in early 2023 with approval expected in late 2023 - this ties in nicely with the expected timeline of the arrival of the decline at the ore-body. This approval will be needed to continue past the Stage 1 exploration approval.

The fact that NCM are advertising for positions with contracts until the minimum of June 2024 then we can assume that they are pretty confident that these approvals will be forthcoming.

GLA - Paddy