Member Info for PaddyGall

Morning guys - no work today so has a little lie in.

Definitely new activity in the SW corner today and I'm pretty sure there is a new pad in the NE sector as well.

https://twitter.com/paddygall1/status/1228588739695435776?s=20

Interesting that the new hole in the SW corner is further "in" than the original line of 4 whereas the last new hole was further out. Seems now they are targeting the same area but at a lower depth than before - they must like what they are seeing from that area.

Can't wait to see the results from the assays for these drills.

GLA - Paddy

Anyone see that gold is on a rip again tonight - up to $1587. I know it's not material to us today or tomorrow but builds sentiment in the sector.

Tune in for the next satellite image in the morning
GLA Paddy

Yeah Jerry - How very dare you come on here spouting sensible views like that :-)

Lets hope for a nice view from the Sentinel satellite in the morning.

Have a great weekend - How beautiful would a nice Tasmanian divestment RNS be at 7.00am on Monday morning - Paddy

From the farm-in agreement.

"Expenditure incurred in connection with the Feasibility Study that is in excess of US$20 million shall be funded by the Parties in proportion to their respective Participating Interests in the Joint Venture at the relevant time the Feasibility Study is delivered, in accordance with the terms of the Joint Venture Agreement."

Matt - this is the paragraph from their December Quarterly Report

"Due to the positive exploration results detailed in the separate December 2019 Quarterly Exploration Report,
Exploration expenditure at Havieron is expected to be $25m higher in FY20, increasing the guidance range for
Exploration expenditure in FY20 to $115-125m from the original $90 -100m."

IMO this is the Stage 3 money which was probably originally allocated to FY21 but has been brought forward. To all intents and purposes pre-feasibility is what they will be doing - carrying on with the in-fill drilling and preparing all the baseline data that they need for the permits as confirmed by Sandeep in the presentation on Wednesday night.

I think there is a clause in the farm-in agreement that talks about any overspend in stage 4 and if that happened then the overspend has to be borne by both parties - I'll dig it out and have a look again.

Regards - Paddy

https://www.proactiveinvestors.co.uk/companies/news/912976/do-recent-strong-share-price-moves-from-londons-junior-miners-herald-a-return-to-the-good-times-912976.html

aden - here's the last release from the company on Black Hills

https://greatlandgold.com/wp-content/uploads/2019/11/20191114_GGP_Announcement_Black-Hills-Update.pdf

Paddy

No chance Joel - The last time we traded over 100M in a day was back around July/August time and over the last 2 weeks we have been above 100M almost every day and are regularly trading over 200M / day.

That is not back to organic trading by any stretch of the imagination - I don't know exactly what's afoot as I have no insight into the system but it's definitely not normal.

GLA - Paddy

Cheers schemiel - so all this volume over the past couple of weeks must be like manna from heaven for those city boys.

Volume is insane again - the MM's must be loving this. What sort of commission do they make on the trades?

https://www.proactiveinvestors.co.uk/companies/news/912962/greatland-gold--the-market-s-beginning-to-realise-how-big-havieron-is----mining-capital-s-ford-912962.html

Jim,
If we get some interim's then mid March - if not the next quarterly is end of April.

Christ - it is bouncing about all over the shop.
Seen this kind of volatility usually after a set of great drilling results.

Sitting on hands - Paddy

Ouch - NCM down 3.6% overnight - if they continue to drop like that they might become a tasty take-over target themselves - just saying.

Fine weather in the Paterson tomorrow - lets hope there's no strategically placed stray clouds floating about.

ATB - Paddy

Trying not to look but it makes compulsive viewing - you've got to hand it to them, they certainly know how to play the game in both directions and still nothing has changed.

Still sat on my hands - Paddy

If you believed in the story last week and were happy to hold for the MRE / NCM decision then what has changed in the last couple of days to spook the market - absolutely nothing. If anything we had confirmation from NCM last night that they are in the process of fast-tracking Havieron to production (be that as a bulk mine or a high grade selective mine) in order to alleviate their problems with the ore reserves at Telfer.

Nothing has changed here - I'm down a substantial amount of paper profit since Tuesday night but that's all it is - if you're "invested" then suck it up and keep you eyes on the big prize.

I'm taking a break until Saturday morning - clear satellite image hopefully - Paddy

Bronze - I think the initial permits are for the exploration decline not to actually start mining.

I accept that the exploration decline will eventually become the access to the actual mine and that's why it's so important for them to site in correctly in the first place but I don't think these initial permits are actual mining permits "YET".

Cheers - Paddy

Sorry Dodge - Trying to get some work done and keep up here as well.

No worries mate - all good for me :-)

I'm not aligning myself with anyone Dodgemeister but Sandeep did say this in ask to one of the questions.

"And the other piece as you say is how do we bring Havieron on as soon as we possibly can, now. It depends what sort of mining we're looking at. I mean if you're looking at the grades there, I mean, again we've got to do a lot more drilling, but if that becomes a potentially a high grade mine, you could bring that on sooner rather than later and then bulk it out later or if you get a bulk initially, it'll take a little bit longer, there's all sorts of options we can play in that. If we just continue and we continue to find quite high-grade amongst the lower-grade stockwork, if that trend continues and we'll see, then – they are the various levers we have to pull to try and prevent hiatus"

So they are looking at all the options - which I would expect at this moment. The pressing situation at Telfer and the possibility of finding more high grade material will IMO give us an answer in the very near future - I think the next set of assays from the SW-NE direction drilling will be very interesting.

By the way - there is a complete transcript of the conference call on here:

http://www.blueshare.co.uk/community/index.php?threads/ggp-greatland-gold-share-chat.3192/page-46

GLA - Paddy

" The first half of the year was an investment for the future"