Member Info for PaddyGall

MacMahon and Newcrest came to a settlement which was announced in November. Why would Newcrest agree to appease MacMahon with higher rates (meaning an even higher AISC) unless the future of Telfer was already secured - IMHO.

https://hotcopper.com.au/threads/ann-telfer-settlement.5052961/

GLA - Paddy

Should say Nullagine

I've just checked the 10 day forecast on the weather channel for Millstone which is close by and it's minimum of 39 and up to 44 running up to Christmas.
It's even high 20's every night - those power supplies for the AC are gonna come in very useful.

I listened to the weekly wrap-up on the Sprott money blog yesterday and they said they are doing an "ask the expert" special podcast this week where they will try to discuss every company that is sent in to them.

I've already emailed asking about GGP but it would be good if as many as possible did this.

Email to submissions@sprottmoney.com

GLA Paddy

Grizzle - that's a fair point and depending on our initial drills @ Scallywag may have a big impact on how we would look upon such an offer. If we can get a few holes in there as early as possible next year and they are looking good then perhaps GH might be inclined to entertain such an offer.

But if Primorus are that confident of 20Moz+ (and remember they will have good access to the GGP management so they must be thinking along those lines also) then GH couldn't possibly recommend £350M, even at $100/oz the 30% would be somewhere more like £600m - I'd be happy to take that and run onto Scallywag and PRE.

GLA - Paddy

Yes Jerry this is what I have been saying all along - NCM will complete the farm-in deal as agreed and we will have a full mining feasibility study (stage 4 - commitment) which will take NCM's share up to 70%.

At that point we should have a pretty cast iron resource and it will be possible to put a fair value on the 5% and consequently the 30%. This will obviously take into account the oz in the ground, the quality of the oz, the CAPEX to build the mine, etc, etc. As you said this will be determined by experts (bean counters as Timid says) who are only bothered about getting the numbers right.

Remember the bigger it is the better for not only us but for NCM also. If it does turn out to be bigger than 20Moz then they will have 70% of that for $65M - a bargain - look how much they forked out this year for the Red Chris acquisition.

Have a greatland weekend one & all - Paddy

Guys,
I don't disagree with anything you are saying but we have an agreement in place with NCM which includes pre-feasibility, and mine feasibility studies. Would it be better to let this agreement run it's course when our 30% will be pretty much cast in stone or have a buy-out at the initial resource estimate?
My feeling is we would be short changed at that stage.

SK - when you say buy-out here I presume you are just referring to buy-out of Havieron - leaving us to continue with Scallywag, Black Hills, Paterson Range East, etc ??

I can't see that happening before NCM go through the complete farm-in agreement - in fact I'd like GH to make them complete it because that will surely maximise our value then.

Potentially (as NCM seem hell-bent on fast tracking this) how long would it take to get to that stage and what would our 5% be worth?

Cheers - Paddy

100% with you as a GGP fan Jerry - not so much when it comes to Boris!!!! but he was definitely the lesser of the two evils.
Sad indictment of the state of UK politics at the moment.
I'm gonna start a campaign - GH for Prime Minister!!!!

Intrigued by the comment about Canada. I think it's time we all sent an email if to Eric Sprott to ask his opinion on Greatland Gold.

Send to - submissions@sprottmoney.com

If loads of us send a message it might prompt him to mention is in the weekly wrap-up podcast that he does every Friday.

GLA Paddy

That's the lines I was thinking of too - I wonder if those Firetower & Warrentina results are finally in???

Interesting that @GreatlandGold have"liked" that tweet by Primorus this morning. They don't tend to like anything that's not through official channels.

Interesting action so far - RNS later anyone???

GLA Paddy

I wouldn't bet my house on that yet jk.

Sit on your hands until the end of January for Havieron to reveal herself IMHO.

GLA Paddy

https://resourcesrisingstars.com.au/news-article/rio-spends-80m-winu-copper-find-fuelling-speculation-new-year-maiden-resource

Ok Mineralholder,

1sec time lapse of the drilling and development @ Havieron from the start of May up to todays image.

https://drive.google.com/file/d/1CumBBcrtXHDDI8g99JwyaCBJmgkTwn3H/view?usp=sharing

GLA - Paddy

So it's now being referred to as Mammoth in Aussie circles -

"particularly those tenements right next door to the mammoth Greatland Gold/Newcrest Mining (ASX:NCM) gold-copper discovery at Havieron."

There was one superlative that GH forgot to use - lol

Sorry guys - got it wrong this morning - I was looking at the image on my phone at the airport. Checked it just now on the PC and both new holes are to the NW of the original 2.
That actually makes more sense as they have said that was the direction that the mineralisation was trending. So that's a 200m step-out (in that orientation) from the last furthest one - They must still like what they are seeing.

GLA - Paddy

There is an update on the GGP research page on the Numis website this morning.

https://www.numiscorp.com/x/MainResearchDownload.html?id=24962&stype=stock&secid=314

The link is titled -
12 Dec 2019 Thematic & Periodic Sector Research - Sector Note

I've had a look through some of the other mining companies pages that they cover and the link is on some and not on others so perhaps it has some specific info relating to the companies where the link is posted???

Maybe they are working on one big Muthaf**ker of a report that will snare loads of II's (dream on).

GLA - Paddy

Link to todays image

https://apps.sentinel-hub.com/eo-browser/?lat=-21.72378&lng=122.65169&zoom=16&time=2019-12-12&preset=2_FALSE_COLOR&datasource=Sentinel-2%20L1C

It looks very cloudy over Havieron in the update from today but the SW corner is clear. Two new drill pads since last Saturday in that corner.
One to the SE and another to the NW - both about 100m step-outs from previous holes.

GLA Paddy

Ipad, I'm on the phone only today so haven't access to spreadsheets that I knocked up a while back but the profit could be significantly more than $200 per Oz.
It all depends on how low the AISC of Telfer can be reduced to by using the high grade ore from Havieron. If the AISC could be reduced to the $800-900 range then we could conceivably be looking at up to $500/600 profit per Oz - just watch the dollars rolling in for the next 40 years while GGP continue to develop their existing and any new prospects - what's not to like?

GLA Paddy