Member Info for PaddyGall

Couldn't care less - it's reacting to the drop in the gold price currently, temporary blip and once it's fully digested by the market and feeds into the Telfer resource number by the end of this quarter then we will start to see price discovery restart.

Sleep well shareholders - I know I will.

Amazing results yet again - the WDU is shaping up to be absolutely massive both in size and grade, but there are also superb results in both the stage2 and stage7 extensions which will be providing the baseload and doing the heavy lifting over the next couple of years while the WDU is developed.

I think these results should really start to make the instos sit up and begin to take notice that GGP are serious about the extended LOM at Telfer before it's actually spelt out when the resource & reserves are officially announced.

Looking forward to the Q&A session after the full detailed report next Tuesday night....

ATB - Paddy

Absolutely TT - steal of the century, deal paid for itself in less than 6 months and within 18 months we will have the cash in the bank to develop Havieron without any requirement for debt financing if that's the route they decide on, although Shaun understands the leverage that debt can bring to the table too.

Honestly I can't think of anyone I would rather be running the business now - he's still under the radar somewhat in Australia but has the backing of a very powerful and well connected board, all while we are in the mother of all PM bull markets.

He used the term Goldilocks timing at one point - couldn't put it better myself.....

@Aquakidd - it was not a dream to the man that matters most, having met with Shaun about 6/7 months into his tenure at his first Town Hall, I can tell you this has been his plan from the day he was approached by Callum & Gervaise about taking on the role as CEO.

Certain things have been lucky like the increase in gold & copper prices but he's put everything in place systematically to get to where we are now and even had a gentleman's agreement with Sandeep to purchase Telfer & the 70% of Havieron from Newcrest before Newmont pounced.

It's probably worked out in our favour and we got a better deal when Newmont came in but it was happening one way or the other - that's why I am so comfortable with the direction we are headed - was seriously impressed with the calibre of Rowan at the last TH too and if the rest of the team he's built are of a similar ilk then we are set.

ATB - Paddy

Statement from Wyloo regarding their decision to take the Newmont stake win was always happening

https://wyloo.com/media-release/wyloo-increases-stake-in-greatland-reinforcing-support-for-havieron-and-telfer/

ATB Paddy

@Culpepper - I think you should check out the Havieron feasibility study presentation - page 21 about the corporate debt position.

https://www.greatland.com.au/wp-content/uploads/2025/12/Havieron-Project-Feasibility-Study-Presentation.pdf

"Exceptional pricing outcome

No mandatory hedging required"

Greatland coming 6/7th currently in the list of margins from gold producers worldwide, comfortably beating the other Aussies in the pack - NorthernStar & Evolution. All while processing relatively low grade from Telfer open pits, stockpiles and a limited supply of high grade from the main dome UG

https://x.com/i/status/2012463131839037592

Imagine what happens to these margins as the high grade starts to flow into the processing plant from both the WDU and Havieron over the coming years, not to mention the appreciating gold price - we will be heading closer to the top of the chart.

ATB Paddy

Think if they follow the same timeline as last quarter then we should get the December quarter exploration report on Wednesday 21st next week, followed by the detailed quarterly report on Monday the 28th as already signposted.

Only question for me is if they do a separate explo report for the WDD drills or if they will be included in the main one. I'm not expecting the maiden MRE for the WDD as they are including all drilling up to the 31st December 2025 and plenty of that drilling will still be at the labs getting assayed - personally I don't expect to see that until late Feb at the earliest but into March wouldn't surprise me and the same goes for the overall Telfer resource update.

Lots to look forward to in the coming weeks & months.

ATB - Paddy

Havieron project status has been updated on the EPBC referral website to "Direction to Publish Draft Preliminary Documentation Issued"

The previous status said "Considering variation to Proposal" if I remember correctly.

https://epbcpublicportal.environment.gov.au/all-referrals/project-referral-summary/?id=4664b7df-5d35-ec11-80d1-00505684c563

Looks like the are referring to the documentation to be issued for the public comment period which will be open until the 3rd February - already available on the Greatland website.

That should give plenty of time for submissions and responses from Greatland before we get a decision in and around July as signposted by Shaun at the recent Town Hall - subject to the usual governmental delays.

ATB - Paddy

HSBC expecting gold to hit $5000 by the end of H1 in 2026 - just in time for the Telfer updated reserve number and the combined "Havelfer" Life of Mine plan

https://www.investing.com/news/commodities-news/gold-may-hit-5000oz-in-1h26--hsbc-4436586?utm_source=Twitter&utm_medium=social&utm_campaign=glops_www_official_account

ATB - Paddy

Of course I should have said December 2024 - Doohhh

Whoops @pawlo - where have you been hiding for the last 13 months - Greatland own 100% of Telfer, Havieron and all the previous NCM tenements that were part of Telfer since December 2025

There is no JV with Newmont anymore!!!!

HNY Tom - just go onto the website and look under the "ASSETS" tab - you will find the link to the page in there.

Cheers

Just spotted this new page on the GGP website where it is open for public comments until the 3rd February

https://www.greatland.com.au/assets/havieron/invitation-for-public-comments-on-epbc-referral/

Hoping this will be the final iteration and once the public comment period is complete the WA government can get on with the final assessment - looking good for the timelines that Shaun alluded to at the recent Town Hall meeting - Happy Days

HNY and GLA - Paddy

I would like to wish all GGP holders a very very merry Christmas and prosperous New Year.

Travelled back across the Irish sea to the homeland for the festivities this year and missed all the drama off the last couple of days.

Thanks to all the usual crew - you know who you are, and good wishes to the miserable grinches too, may 2026 be fruitful to is all.

Catch up with everyone in 2026, Cheers 🥂🥂 Paddy

Hi Speedy,

Whilst you say that all the eggs are in one basket at Telfer, it's one very big basket.

There are multiple mining fronts currently in the West Dome OP & the Main Dome UG but we will be expanding these as well as bringing online a brand new mine in the West Dome UG and will also be looking at potentially bringing back more areas in the Main Dome OP too.

So in theory we will have multiple mining fronts in potentially 4 areas within Telfer alone and that's before we even consider Havieron.

When it comes to milling and processing we have two trains so have redundancy built in there and although we currently only have TSF8 for tailings, Shaun confirmed they are expediting work to be able to reintroduce TSF7 back into operation so would have a measure or redundancy there too.

I don't think people or the market fully appreciate how vast the operation at Telfer truly is. I do agree that eventually Shaun & the board will be looking at other mines and processing plants but personally I want Havieron to be at some sort of steady state production before we go down that route unless we have billions & billions of dollars burning a hole in our pocket.

ATB - Paddy

Gold Sector research note from Argonaut released this week who see gold marching on towards the US$5,000 mark in 2026.

Detailed number on GGP on page 18 but they have increased their target price from A$12.90 to A$14

https://research.argonaut.com/wp-content/uploads/2025/12/20251215-Gold-Sector-Update-Gold-to-5000.pdf

ATB - Paddy

Hi everyone,

I was at the Town Hall last Thursday and what a fantastic night - it was the first one for a while that I'd been to so was great to catch up with a few familiar faces and meet plenty of new ones two. Shaun was on top form as usual but I must say I was very impressed with Rowan also - if he is a measure of the quality of the team that Shaun has built then we're 100% in good hands.

Shaun was waxing lyrical about all aspects of Telfer, Havieron, O' Callaghan's, South East Hub, Camp Dome, etc, etc but when he was pushed about what was exciting him the most - he was unanimous about the West Dome Deeps - he just couldn't keep the smile off his face and confided that he found it hard to believe that a full quartile of the Telfer deposit was lying there untouched ready for us to exploit.

So I have had a look back through the old NCM presentations & exploration reports over the weekend and found some cracking slides from the early 2010's that show NCM had a good handle on what was down there but seemed to lose interest in Telfer around late 2012/early 2013. The gold price has taken a hit and they had bought Lihir for $10Bn at the height of the bull market and were forced to take a big write down on that.

It seems they starved Telfer of exploration capex and never returned to it - how lucky can we be to have it sat there close to the Main Dome UG infrastructure and with gold back in another amazing bull run. I literally can't wait to see the next set of drill results from there followed closely by the maiden MRE in 2026.

https://x.com/paddygall1/status/2000556437702111284?s=20

Have a look at the first slide that says there is continuity in the reefs from the main dome and then the second slide that shows 4.6Moz targets in the SLC & VSC targets at the main dome - with the OP/Main Dome UG & Havieron currently in excess of 10Moz resource - how much is going to be added in 2026??

The mind boggles - GLA - Paddy

If you register an account with MarketVector then you can download the latest Q4 review in spreadsheet format.

https://www.marketvector.com/indexes/hard-asset/marketvector-global-gold-miners

There were 5 additions to the MVGDX Index in the Q4 review

1 - ORLA MINING LTD

2 - DISCOVERY SILVER CORP

3 - G MINING VENTURES CORP

4 - DPM METALS INC

5 - ZIJIN GOLD INTERNA NPV

If you look at their inclusion criteria it states we must meet the criteria at review and for the two previous quarters. One of their criteria is that we must be listed on a recognised exchange and in their Index Guide they specifically exclude AIM as an eligible exchange. See section 1.1.3 in the link below

https://www.marketvector.com/rulebooks/download/MVGDX_Index_Guide.pdf

Therefore I believe we will be eligible at the Q1 review in 2026 also - the bigger our Market CAP grows before admission will be better for us anyway so another 3 months should give us more bang for our buck

ATB - Paddy