Member Info for PaddyGall

Hey @Chippy - keep on, keeping on. Your little slice is getting nearer every day.

Hi Freddie - I guess they could, but we now know the resource size they will be basing the FS on as they said it would include drilling up to end of CY21 and that is what they published with their annual report last month.

So they know the figure they have to work with - they will have been working on the optimisation of the SLOS sizes, sequencing, etc, etc since the PFS was issued - they will also be bringing the volume up to 3mtpa in their calcs too.

They have been pretty clear in all their presentations up to now that the FS would be in the December quarter of CY2022 - Personally I can't see them delaying it past year end but we shall see. I'm not trading so again it makes little or no difference to me in the medium to long term anyway.

ATB - Paddy

I don't think so Mumbo - not indefinitely anyway.
Firstly it hurts Newcrest as much if not more than GGP as they are desperate to get that Havieron high grade into Telfer asap.
Secondly there is a clause in the JV agreement - read on.

"Following the delivery of a Feasibility Study, the Management Committee will meet to consider a Decision to Mine. A unanimous vote by the Management Committee is required to approve a Decision to Mine. If a Decision to Mine is not approved by a unanimous vote, then the party who voted in favour shall have an option to purchase the non-approving party's interest at fair market value."

Now I'm pretty sure the GGP representatives will be voting in favour of mining, lets see what NCM do when it comes to it, after all Sandeep has publicly said that he is very happy with his 70% as stands.

ATB - Paddy

IMHO of course

@LA - the Newcrest PFS from last October said the following about the Feasibility Study -

Havieron Feasibility Study

The Havieron Feasibility Study is expected to be completed in the December 2022 Quarter and the study scope is
expected to include:

? Completion of a further infill drilling program by end of CY21 to increase the Indicated Mineral Resource
base for potential Ore Reserve expansion

? Completion of the growth drill program immediately below the Crescent Zone for potential Mineral Resource
expansion

? Further investigation and optimisation of the Sub-Level Open Stoping (SLOS) design and sequence to
include additional Inferred Mineral Resources that are currently being drilled with the aim of increasing
resource confidence that Indicated Mineral Resources can support production rates of 3Mtpa or higher

? Initial assessment of future development options with further resource growth in the Northern and Eastern
Breccia including evaluation of alternative, lower cost, mining methods.

Well we now know their updated resource to the end of CY21 came in at roughly the same as the GGP MRE of 6.5Moz AuEq so that will be the minimum they will be taking forward into the FS.

ATB - Paddy

Tick tock - updated results & decline progress incoming on Thursday. There were 7 holes that had "assays pending" in the last report 7 weeks ago. Hopefully we should at a minimum get the results from those and perhaps a couple of new ones.

More steady progress on infill and growth targets to be expected - could the decline progress surprise to the upside???

What a wonderful journey we are all on, the optimists, the pessimists and the people sitting on the fence. One way or another the GGP story is going to be one that will be recounted for many years to come.

GLA - Paddy

I would bring to people's attention the second line in the "Credit Approval" section of Slide 6.

- Each of the preferred banks has provided a credit approved terms sheet

Doing a small bit of research shows the weight that this sentence holds for us investors and the company as a whole.

"A credit approved term sheet is a significantly more serious document, and in most cases indicate that a lender has gone through an internal credit process, conducted its financial due diligence, and obtained credit approval to allow the funding to proceed (subject to documentation and final checks). These term sheets tend to be longer and more detailed. Sometimes, a credit approved term sheet is issued after discussion and negotiation of an indicative term sheet."

Subject to documentation and final checks - pretty relaxed here that debt funding is now only a matter of time and then it's full steam ahead with the DFS, DTM and the build up to reaching the ore-body and seeing that ROM stockpile begin to develop beside the box-cut.

Lots of other activity at Scallywag, Juri & Rudall to keep us interested outside the regular Havieron updates too.

ATB - Paddy

Updated Corporate Presentation available on the company website.

New slides 5 & 6 cover ASX cross listing plans/possibility of adding high profile Aussie directors to the board and an update on debt funding plans and progress

https://greatlandgold.com/wp-content/uploads/2022/08/GGP-Corporate-Update-Aug-2022.pdf

Looking forward to drilling results and decline progress report on Thursday!!!!

GLA - Paddy

Hi Speedy - I haven't been following the board here for a while so missed your news. I'm glad to see you post just now and delighted to here that Mrs Speedy is on the mend - no doubt helped by your timely intervention.

Best wishes to you both - Paddy

There are other options available to GGP - Franco Nevada paid $100m to Solgold for a 1% royalty on it's Alpala and Cascabel project.

NCM weren't very happy when this deal was brokered and I'm sure they won't want anything similar to happen at Havieron but how much would 1% of Havieron be worth to a royalty streamer over the next 40 - 50 years with exposure to all the exploration upside that is available there.

Lots of options available to SD yet.

ATB - Paddy

Not long until we find out - 26/06

https://twitter.com/GGPHelp/status/1539893592939962369?s=20&t=NuD0_0IBGaYN75hHQbiR5g

#LSExit

Interesting article on the state of the Gold industry and the discoveries that have been found since 1990 through to today - thanks to @Hydro for bringing it to my attention.
The last paragraph was a particular interesting read for me.

https://www.spglobal.com/marketintelligence/en/news-insights/research/gold-rrs-2022-surge-in-recent-discoveries

"Our research into the gold production pipeline shows future supply growth, if any, will be relatively minor over the next decade, with even the most optimistic view showing gold production declining by 2028. Although there are several reasons for this, a contributing factor is a lack of quality assets available for development. While nearly half the discoveries included in our analysis are not yet in production, only 33 have over 10 Moz of gold in reserves and resources — enough for a mine to produce over 200,000 ounces per year of gold over a significant mine life. But many of these assets have a long road to production, including feasibility studies and permitting, making them unlikely to have a near- or medium-term impact on the pipeline."

GLA - Paddy

Had a quick read through - Newcrest had originally earmarked an area in the top left corner for a landfill site. It would seem now that they've decided this is not required and the landfill waste from the camp can be compacted and stored within a section of the Waste Rock Landform (WRL) where the spoil from the decline is being piled.

Good news for us and the environment - less disturbance and costs should be much reduced, which is a good thing as we are contributing 30% at present to the early works costs.

Plenty going on in the background that we aren't aware of and this just proves the point that regardless of what the SP or sentiment is - the building of the Havieron Gold/Copper/???? mine grinds inexorably on....

GLA - Paddy

@Bamps
Havieron was known about in the early 1990s but the drilling technology was just not capable of proving anything up.
A report in the early 2000s suggested NCM look for shallower targets, bearing in mind the gold price had gone through the floor $200-300 an oz making these deep discoveries uneconomical.

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The actual paragraph from that report is shown below ----

"A future approach to exploration of the Anketell tenements is in the process of being formulated. In summary, at Havieron, the 1991-92 and 1995 drilling has succeeded in demonstrating the likely presence of a large gold-enriched mineralised system, hosting, at least in part, moderate-grade (10-15 et Au) + sulphide bearing hydrothermal breccia and vein style mineralisation, albeit beneath +420m of post-mineralisation cover. Given the high degree of difficulty of locating high grade (+20 g/t Au) ?structurally and lithologically controlled zones beneath such thick cover, it is recommended that exploration of this prospect be deferred (but not forgotten!) until other, shallower targets in the Anketell project area and the broader Telfer District have been tested."

I particularly like the last sentence - "that exploration be deferred (BUT NOT FORGOTTEN)" - Newcrest screwed up by not going back there in time. Callum & Gervaise had the belief & cahoonas to drill deeper than before and as Shaun has said on a couple of occasions the timing is just right - not too early that Telfer was still economic and NCM could drag out the exploration & drill-out, but not too late whereby Telfer had been mothballed.

NCM are going balls-out to get the ore into Telfer asap - they are developing the ore-body in the same manner that Shaun would if it were a 100% owned asset which helps us out with financing and cash-flow.

When the 5% and financing are sorted then Shaun will have a base from where to grow the company and the SP will surely follow.

GLA - Paddy

More new drill pads to the North - one just to the SE of the furthest South of the Zipa pads and another just to the West of the Havieron North pad.

https://twitter.com/paddygall1/status/1537342821119713281?s=20&t=8Gf5dLvIisxUwjcyDtC3gg

So even with "no significant assays" reported from the holes up there they still like something - I'd say the odds must be on some "due" East holes to intersect the N/S dolerite dyke at 90 degrees.

Maybe NCM have a couple of million $ that they need to burn up for no reason though :-))

GLA - Paddy

Well worth a listen IMO, 18mins well spent.

https://www.youtube.com/watch?v=Zs3R-fzqL7I

ATB - Paddy

Gold in AUD is pretty stable (only down 1% as opposed to nearly 3% in USD) and I'm pretty sure that's where GGP & NCM will be doing business. Our profits will be in AUD and then translated to £'s so if the £ gets battered then perversely our profits may end up being better.

I realise this is a while away when we are in production but there are a lot of moving parts to the equation and it's not as simple as you make it out to be Hll.

Hi SAS - My understanding is that ISA holdings are not shown at all on BT but holdings in trading accounts & SIPP's can be seen. I have my holdings in GGP across 2 ISA's and 2 SIPP's and I have seen both SIPP holdings show up on BT with the correct number of shares in both. I don't have a trading account so I can't personally verify that but I know some people who have and they say that the numbers shown are about right - allowing for lag in trading activities.

I'm not swearing by it but I think it's a decent tool to use to give a broad idea of where the distribution of shares is generally.

Cheers - Paddy

It was Doublehun but if you look at the date on GH's holding it is still showing the last update on his position as being early 2021. All the other entries are showing current dates. For some reason his position just seems to be stuck. I think the other prints are reasonably accurate - I don't have BT myself TBF though.

ATB - Paddy

We have a fair idea Roy as we can see the Bllomberg Terminal prints on a regular basis and the PI platforms like HL, AJ Bell and others have been pretty stable and in some cases have been increasing.