Member Info for PaddyGall

If your main investment is locked away in a SIPP then I'm afraid a bed & ISA isn't an option until you reach 55 (soon to be 57). I know as this was my exact position until last year but I will be taking my tax free lump sums out prior to the end of March this year to reinvest into both mine & my wife's ISA's either side of the deadline.

I assume Fernhurst100 is in a similar position as otherwise I'm sure they would have done so.

GLA - Paddy

Hi @jptop7 - could you let us now where that date of the 9th March for the Half-Year report has been published? Last year was the 4th March so that seems to make sense but I haven't seen the date publicly announced anywhere yet.

Thanks - Paddy

@topslicer100 - fully agree and with the contacts list that Shaun and the board of directors have (not to mention Wyloo and Twiggy). I'm sure they will have no trouble in finding a suitably qualified & experienced professional to come on and oversee the development of Havieron and the integration of it into the Telfer mine plan.

It would be an extremely desirable project for any mining professional to have on their CV - IMO

ATB - Paddy

Well whatever the reasons for Simon's resignation I would like to wish him well in his future engagements. He has been very instrumental over the past 3 years in getting Greatland from being an AIM minnow to one of the top gold miners in Australia. His dedication to that bay basing himself at Telfer until it is now purring is not something you would expect from many C-suite executives and I for one am very grateful for his efforts.

The fact that he is available to Greatland until the end of June seems to indicate - to me anyway - that while it may not be the preferred outcome - it is at least professional and amicable.

Otto is a fine candidate to step up to Acting COO and again he has unmatched experience at Telfer and will know the assets inside out having predated Simon at Greatland and as MH01 states, there will be no shortage of candidates applying for the position now.

His deputy manager at Telfer - Shaun McLoughney will probably also be taking on more responsibility at Telfer to keep it purring along nicely.

ATB - Paddy

@Zoros - the conveyor decline development will start at the same time the main decline restarts - section 8.3.1 in the Feasibility Study -

"The main decline will be restarted from its current position. Development of the conveyor decline will commence on the same date from three underground positions: 5100 Link Drive and 4970 Link Drive and the current main decline position. The decline will also be developed from surface through a second boxcut excavation. "

Best - Paddy

Group resource update RNS was on the 18th March last year so there is precedent for it to be roughly in line with that again one would assume. That would literally be right around the timing of the GDX rebalance announcement, so it would be prudent to try release slightly before if possible.

I sure Shaun said right at the end of the last quarterly earnings call that the half yearly report would be in Feb so we should have that soon followed by the resource update.

ATB Paddy

@TMT - thanks for the reply and great to hear from you again after all this time. I hope you are keeping well.

Jerry said you were back posting occasionally - a bit like myself, tend to dip in & out these days when the humour takes me.

As you said any catalyst that encourages the longer term investors to take more shares out of the free float has to be seen as a positive going forward - Shaun and the team will has their battle plans drawn and TBF they haven't been found wanting yet.

I know there's lots of bemoaning going on that the Aussies just don't get us and they can't see the potential - whilst this is probably true they are a more mining savvy bunch who probably have more battle scars to show than us from previous upsets and are happy to wait for the confirmation of added mine life at Telfer. In reality all this does is delay the inevitable and give investors here a chance to keep adding if they are happy to at these levels

To be at the level we are at now with the near term (and medium term) catalysts and the tail winds of the gold & copper prices is frankly amazing. Can't wait to see where the next 12 months takes us and eventually where we end up once Havieron finally starts to cough up the goods.

ATB - Paddy

Things about to get mighty interesting on the run up to the end of March

Catalysts -

1. Possible GDX inclusion - hopefully the analysts at Scotia Capital are pretty confident to stick their heads above the parapet - could create up to 31m share demand, there are also other funds that track the MVIS Gold Miners Index

2. Possible ASX100 inclusion - we are comfortably in this category now, not sure what the nett benefit would be as we may be sold by some of the ASX200 tracker funds

3. ASX100 inclusion should hopefully bring some more of the Aussie superfunds to the table, again not sure what the nett demand would be here.

4. WDD - Greatland have indicated that there will be an initial MRE released for the West Dome Deeps deposit, a deposit that Shaun Day has described as an untouched quartile of the Telfer mine and also as a mine within a mine. This will only be a fraction of the eventual deposit but will be great to see some numbers on the board.

5. Updated Telfer JORC resource - Greatland will be using the drilling up to the end of December 2025 to generate a new revised resource number which will include the West Dome Open Pit, the Main Dome Underground and the afore mentioned West Dome Deeps. This should inform the market that Telfer will be around for many more years to come and allay any fears that they will be any gap in production before Havieron comes online

No doubt there will be some fun & games in the coming weeks as the usual suspects will be front running the ETF rebalances and will be trying to build positions as cheaply as possible - timing of the news releases re the resource update & MRE's will be critical and interesting to see.

Exciting times ahead - surely we will see the old ATH from 2021 (circa £7.60) getting tested and surpassed

ATB - Paddy

Great write-up from Charles in plain English and easy to understand terms. Thanks TT

I think we are in the right place, at the right time.

ATB - Paddy

The only company around us that is anywhere near being in a position to put anything through the mill is Antipa - and they are only currently at a scoping study level, albeit they are progressing their PFS currently.

Nobody else even has a discovery hole yet - lots of indicators and pathfinders - but nobody else has anything even close currently. Our own tenements around Telfer and the SE Hub are currently showing more promise and the in-mine and near-mine results look like we will have more than enough to deal with for the next decade, before we even contemplate what Havieron will bring to the party.

If any of the juniors were to hit a discovery hole then I am sure GGP would be more than happy to provide the support to get them to a position where it could be exploited - that would make sense for all involved - but I don't think we will be getting involved until that initial BIG discovery hole is found.

ATB - Paddy

@Texlax30 - TBF he actually flagged that point and said that Lundin has pushed back against the upper limit of a single asset producer can be worth

Link with correct timestamp to the start of the discussion

https://youtu.be/AlapmH3pNd4?t=3066

Money of Mine podcast from last night - short discussion on GGP from 51:03 minutes in

Travis seems to have his finger on the pulse with the driller out in the Paterson and mentions they are finding lots of other opportunities out there to add to the mine plan aside from the WDD & Havieron.

https://t.co/BuUNqbZWsz

ATB - Paddy

@TimberTrader - Go raibh míle maith agat

Morgan Stanley have predicted that Greatland are poised to join the ASX100 after the review in March.

https://archive.is/ZInNO

"Westgold Resources, Regis Resources, Vault Minerals and Greatland Gold are set to join the S&P/ASX 100 in the ASX’s quarterly rebalance, to be announced on March 6 and take effect a fortnight later, according to Morgan Stanley.

That will lift the weighting of gold stocks on the benchmark to 5.5 per cent – the highest level in decades and up from 1.6 per cent a year ago.

While that will attract more passive flows to the sector from index funds and benchmark-conscious investors, Morgan Stanley also noted it will create a challenge for large-cap managers trying to beat their benchmark, particularly those that have historically avoided the gold sector.

Once these stocks enter core large cap universes, they compete directly for capital against well-held blue chip constituents, prompting active investors to reassess their positioning and exposures,” said Morgan Stanley equity strategist Antony Conte."

ATB - Paddy

@Nuggs - the current Telfer mining fleet is listed on page18 in this site visit presentation from last year

https://www.greatland.com.au/wp-content/uploads/2025/06/Site-Visit-Presentation-5-June.pdf

I don't think this new shovel is replacing anything - I think it will be an addition to the fleet to increase productivity. They are currently running a program to refurb the Cat 793C dump trucks too

ATB - Paddy

Seriously it's un-nerving to see these drops but to be honest I was un-nerved when I was watching Gold blast through the levels it did earlier this week and I think any rational person could see there was going to be a severe correction - this was always going to be played to the full advantage by traders and even PI's who are happy to slice, sell-out, whatever and buy back at lower prices - if that's your tactics then fair play and well done.

The reality is that the Aussie gold price is still >$7.2K per ounce of gold and our average realised price last quarter was A$6.3K per ounce - nothing has changed apart form we're a month closer to the Telfer updated reserve including the WDD initial MRE, a month closer to the probable GDX inclusion announcement, a month closer to the next quarterly result and the realisation of continued cash build in our Havieron development fund.

I know it's a chat board and people have to discuss things but get a bit of perspective.

GLA - Paddy

Hi @pj70 - Shaun confirmed that they have already been tipping low grade material (he referred to it as partially costed) directly into the crusher in the last quarter. They are going to run trials on the various low grade stockpiles to see if they perform in the same manner as the low grade ore they are mining and using.

Also the strip ratios at Stage2 are reducing as expected so by the time the next quarter is reported they should hopefully be getting down towards the designed ratio of 1.1, in which case they should be mining better grades.

I don't know Shaun's plans but if were me and I could maintain the current production rates using some of the lower grades with a mixture of higher grades from OP and UG then I would continue to do so and start to replenish the HG stockpiles with any excess to give them more "optionality" to deal with any problems that might arise in the future months

Whatever the plan is, they will strive to never miss guidance again - that came from a chat I had with Rowan at the TH in December. Once they hit or slightly improve on that then we can all be happy as shareholders

ATB - Paddy

Daniel Morgan from Barrenjoey who has worked closely with GGP on the ASX prospectus and perhaps is in a position to provide a more enlightened view of the potential at GGP & Telfer over the coming 12 months has today issued new guidance.

Rating - Overweight

Target Price - A$18.50

Forget about GS - IMO they are completely disregarding any additional ore at Telfer and are purely working on the numbers contained in the prospectus. Bear in mind I haven't seen either piece of research but that is the only thing that makes any sense in my mind.

https://x.com/paddygall1/status/2016522043710165251?s=20

ATB - Paddy

PS - What a wonderful report, couldn't be happier with the progress......

post from wyloo ceo luca on linkedin last night

https://www.linkedin.com/posts/lucagiacovazzi_this-milestone-marks-the-culmination-of-a-share-7419852703113195520-3z3e/?utm_source=share&utm_medium=member_android&rcm=acoaabyad4ubx***m7pgxun2u-8qtxof7ct2e20

"this milestone marks the culmination of a journey that began with our initial investment in 2022, when our vision with greatland was always clear: put telfer and havieron together and unlock the paterson.

it’s been a privilege to work alongside shaun day, mark barnaba, elizabeth gaines, rowan krasnoff, yasmin broughton, monique connolly, simon tyrrell and the rest of greatland team to bring that vision to fruition. the collaboration, discipline, and long-term thinking across all parties has been exceptional.

rather than pursuing short-term underwriting fees, the wyloo bd team —led by joel turco—negotiated a long-term option over newmont’s stake. that strategic decision has resulted in one of the most successful underwrite investments in asx history!!

a great outcome built on patience, partnership, and conviction."

seems like luca & wyloo "know what we own"

atb - paddy