Member Info for PaddyGall

@JoeBloggs - in a perfect world that would have been the ideal scenario but how was Shaun going to raise the £60m that he needed to bring the bank funding online without dilution? Another loan at extortionate rates from NCM or some other way?

I dislike the dilution as much as any other shareholder - I can assure you but if it proves to be accretive in the medium to long term then it's probably more acceptable than asset dilution, especially at Havieron where the asset keeps on giving.

I'm not on a free-ride but admittedly I'm still blue due to a low average, but I do 100% feel for people underwater. I was for almost 12 months myself after Newmont walked back in 2018.

Good luck whatever you decide to do - Paddy

Back to the placing price now. So anybody who wanted to take part in the placing to minimise their dilution can do so without any problem.

ATB - Paddy

Look at Dip's response below - Q2 FY2023 is the same as Q4 CY2022 - no change from before.

Bit of reading this morning

https://www.theassay.com/articles/feature-story/new-land-rush-repeating-history-at-remote-paterson-province/?amp=1

GLA - Paddy

Quick mention for Greatland in today's round-up podcast.

Listen from 55:45mins in.

https://audioboom.com/posts/8159508-the-sunday-roast-featuring-aleksandra-binkowska-ceo-of-hydrogen-utopia-international-aqse-hui

ATB - Paddy

Have a listen to this podcast from about 5mins in - safe to say Greatland is coming onto the radar more & more in Australia.

https://www.businessnews.com.au/article/Mark-My-Words-16-September-2022

Credit to Claire for finding this, ATB - Paddy

Let's hope your brother in law is very wise Rup, but I feel he's spot on mate.

Wyloo and the new board members aren't here to be just part of the 30% of Havieron for the next 30 years. They want in at the start of the journey to Shaun's vision of the multi asset, mid tier miner. They can bring a lot to the table to make that happen too.

I'm excited and looking forward to the next chapter.

ATB Paddy

The FS is based on the updated MRE that NCM released with their annual results last month. This was pretty much in line with the GGP MRE from March so about 6.5Moz AU Eq.

I agree that GGP could release another MRE but can't see what benefit that would bring to us in the short term. We needed to do it initially to take to the banks when sorting the funding and it also served us well in arguing the valuation for the 5%.

Shaun will be conscious of staying aligned with NCM - as he stated on numerous occasions - in a JV there shouldn't be a winner and a loser. We need to work together to bring the mine online asap with the minimum amount of disruption and fuss.

Eyes on the big prize - if the decline rate keeps accelerating then they will be in the ore-body by this time next year. Now that is something to think on and celebrate.

ATB - Paddy

It's a bit disingenuous Joe to state that the increase from 3.88bn to 5.35bn is all down to Shaun.

While it may have increased under his watch the total with all the options and the Pacific Trends settlement was closer to 4.3bn which were all allocated prior to his arrival. Most of these were options in the pennies so were always going to be exercised.

So as Shaun explained yesterday he has had to bring some equity dilution to the table but we are now fully funded to production and instead of having asset dilution we have held onto 30% of an ever growing Havieron that will be providing income for the next 20/30/40 years. As a reasonably large shareholder (in my world anyway) I of course hate to see my position being diluted as much as the next man but it's a means to an end - it's not dilution to keep the lights on.

Shaun has pulled a massive coup IMO and he has my 100% support (for what it's worth) - Paddy

Sprott says

"All about the team as top-tier board appointments signal start of an empire"

Says it all IMO

Sprott have released a note today also.

https://sprott.com/media/5677/220912-ggp-scp-appointments.pdf

GLA - Paddy

Company Update note out from Canaccord today.

https://twitter.com/paddygall1/status/1569308018881482760?s=20&t=6s_B22VlF16AnyO7IGq5xQ

ATB - Paddy

https://www.youtube.com/watch?v=gzqjOdy2Fl8&t=14s

My takeaway was when he emphasised the possibility of inorganic growth being ever more realistic with the addition of the quality people to the bod.

Small Aussie producer anyone? Entry to the GDX perhaps?

Exciting times acoming methinks - ATB Paddy

Love this,

" The Eastern Breccia averaged 56m @ 3.3g/t over 8 pierce points from four holes, but the four higher-grade hits saw 46m @ 4.7g/t. We think this is the greatest step-change today, as the Eastern Breccia evolves into either a ‘cave on (grade) steroids’, or a second high-grade SLOS front."

A cave on (grade) steroids - Lol.

New Sprott Note out this afternoon.

https://sprott.com/media/5663/220908-ggp-scp-drilling.pdf

ATB - Paddy

Interesting tweet from Artemis this morning - seems they are back drilling at AP001 from what I can discern from looking at the orientation of the rig and the background.

AP001 is very close to both Havieron (South) and Scallywag (West) - Interesting times.

https://twitter.com/paddygall1/status/1567824387562168320?s=20&t=xN-Ccir0qSashB6Gwblumw

GLA - Paddy

Short but sweet - Happy days

Sweet....

Hey Dip - I have relented and put it all back in there again lol. I'll be more than happy with my own little slice when it comes to it.

Plenty down there for everybody........