Member Info for PaddyGall

@SoS - unless we are otherwise informed then I would assume the 5% still is in the agreement. I have it on very good authority that the 5% was put into the original deal because NCM wanted a pathway to 75% ownership and the reasons for that won't have changed.

@Ipad - the FMV will be determined by independent consultants and presumably will have to be signed off by both parties.

GLA Paddy

Hi SoS,
That still doesn't change the fact that NCM have the right to purchase that 5% at FMV. If they want to buy it then we are contractually binding to sell it to them.

It will be an eye watering sum though.

ATB Paddy

Hi zoros,
Telfer would be more than able to handle all the ore from Havieron and more. They can process over 20milion tonnes pa there.

Initially Havieron will only be producing 1-2 million tonnes from the high grade stoping operation and even when they go to bulk mining in maybe 5-10 years time there's no way they will be getting in excess of 20 million tpa.

Another shallower hit at Scallywag would be ideal for Telfer to take up the spare capacity IMO.

ATB Paddy

Had confirmation earlier that the "mafic dykes" would have "filled" in the major fault lines "post mineralisation" and therefore would be a very good indication of where the "plumbing" would have originally been, that would have allowed the fluids to flow.

Interesting then where GGP have drilled in relation to these "mafic dykes" when we consider how the higher grades seem to be around the mafic dyke at Havieron.

https://twitter.com/paddygall1/status/1346485533187432449?s=20

ATB - Paddy

I don't mind hearing a little about Artemis (rather that than gold coinage TBF), anything that they find on or around the boundary with Havieron will have a material impact of GGP and some of the geological maps & images that they have produced have been very useful to me and GGP in understanding the structures in the region.

GLA - Paddy.

There is a sentinel satellite image available already this morning, I can't discern any activity yet but there is a strategically placed cloud right over where the box-cut is planned to be.

https://apps.sentinel-hub.com/eo-browser/?zoom=14&lat=-21.72875&lng=122.64995&themeId=DEFAULT-THEME&datasetId=S2L1C&fromTime=2021-01-05T00%3A00%3A00.000Z&toTime=2021-01-05T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c

I would imagine we will see quite a bit of activity on the next image in 5 days time.

GLA - Paddy

Hi iPad,
The price of gold in the ground @ $250 is a historical price that a major may be prepared to pay in a takeover scenario. It would be a heavily discounted price to allow for development costs, AISC costs, any risk factors like the mine couldn't proceed for some far fetched reason, future decreases in gold price, etc, etc.

$250 per ounce in the ground would have been considered quite high in recent years gone by when deals were done for less than $100 per ounce.

Tom and Bamps are right in that we would realise much better value by sticking with Havieron and carrying on as a junior partner with NCM and it would seem with the current developments that this appears to be the ultimate destination (fingers crossed).

GLA Paddy

@JET - been married since 1999 and I'm quite partial to watching paint dry at 37p.

Watching the SP when it was stuck at 1.8p for nearly a year while NCM churned out results after results - now that was hard work.

ATB - Paddy

I kind of agree with you OzAu but then you read about districts like Kalgoorlie and the Carlin Trend in Nevada and you realise that there is the possibility that Havieron and Telfer are simply individual targets in an overall massive system.

These systems are out there and if Scallywag and or Artemis strike paydirt then that ups the ante even more, especially as the geochemical, geomagnetic and geophysical evidence is so compelling.

I wouldn't miss the outcome one way or the other - Paddy

Hi TFG,
By the end of this year we should have an income stream available to us from the ore that is treated at Telfer from the bulk-mining trials and the creation of the tunnels, workshops, etc, etc in the ore bearing body at Havieron.

Once the decline reaches the basement sequence (I can almost guarantee from the layout on the document last week that they are headed straight for the high grade stuff) then everything that they remove will be trucked to Telfer and processed.

So we should have a reasonable income from that IMO - this should be more than enough to sustain us and give us the ability to raise finance if so required - remember by then hopefully NCM will have done enough drilling on the SE zone to move it into an indicated resource.

Lots of options available to Shaun by then and if a placement is required and our SP is even higher then it would cause minimal dilution compared to the outstanding options IMO.

Cheers Paddy

The options for SD were at the bottom of the RNS announcing him as the new CEO.

Mr. Day does not have any beneficial interest in the ordinary shares of the Company. As part of his appointment, Shaun Day will be granted 5,000,000 performance options on commencement of employment. It has been agreed that each option will have a 25p exercise price, a three year vesting period and a life of five years from grant date.

25p exercise price and they don't vest for 3 years from the commencement of his employment - must be planning on being around for a while then.

GLA - Paddy

TBF Sporty - growing up back home I was a Leeds Utd fan - the days when Jonny Giles was playing for them. I met my wife to be at a wedding and decided to move over here after she couldn't settle in Ireland. I moved in 1996 and have lived in Wolves ever since.

I go up to the Molineux at least a couple of times a year and have to say - it's a hard place to beat for passionate football fans. I know they have their section of undesirables (I know a few or them personally) but I don't think they are any better or worse than most football supporters.

In truth I much prefer to go watch proponents of the oval ball game - being a Munster man it's bred into me.

ATB - Paddy

This isn't a share placement, these are warrants that were issued when the last placement was done. The warrants expire at the end of August and the are just over 32million left.

I always include these warrants and options when doing any calculations as they are so far in the money they will definitely be converted.

4.2 billion shares should be the figure used IMO.

ATB Paddy

Happy New Year Joe,

Enjoy your red - I'm looking forward to one tonight after my first day back at work.

Cheers - Paddy

Isn't it wonderful to see GGP behaving like a "big boy" stock now.

Everybody was hoping and speculating that we would have had the Scallywag RNS drop this morning to start the new week & the new year off on a high. It hasn't arrived - presumably because it is not ready to be issued yet - and we are chugging along nicely.

If this were to have occurred 12 / 18 months ago then we would have been hammered down this morning and no doubt the shaky PI's would have capitulated and caused an even greater drop - not now. The latent demand is there for GGP shares now and the more us PI's sit on our hands then the greater the pressure on the SP in the coming days & weeks.

It's going to be a great year to be a Greatland shareholder - GLA Paddy

Thanks for the replies @Bamps21 and @Hydrogen,

As I said, I'm not sure whether the mafic dykes are important in the mineralisation but reading up a little on post mineralisation placement - this would indicate areas of weakness in the earth's crust at those locations and therefore would those areas have been more likely to have been mineralised during the earlier events??

I'm not a geo by any stretch of the imagination but to me it looks quite possible that the positioning of these dykes in relation to the drilling might well be important.

ATB - Paddy

I noticed that Hydrogen asked a question yesterday about whether the mafic dyke intersected Goliath. I was pretty sure that it didn't but did carry on up through the Artemis ground and intersected the Outamind target.

I had a quick look on Google Earth this morning with the latest Artemis geological map overlaid. The mafic dyke that runs through Havieron definitely carries on up to Outamind.

https://ibb.co/kHRzXTK

Interestingly there are 2 other mafic dykes that are interpreted on the Artemis map and they run very close to the GGP drilling at Kraken and also at the other position in the NW where we saw the 4/5-in-a-row holes (marked SCAL001 on my image).

Now I'm not sure if the mafic dykes are important as regards the placement of mineralisation but maybe it's not a coincidence that they are located where they are.

GLA - Paddy

Just had a quick look on planet.com this morning and it's cloudy out there today so nothing useful to report. I can just about make out the 2 camps but can't see anything around the drilling areas. I'll keep a watch out tomorrow also.

ATB - Paddy

Yes definitely GH still in the top seat, he will have the Scallywag RNS and the next Havieron one after the NCM quarterlies.

I wonder will that one be his swansong or might there be another significant one between now and then??

PS - Gold has had a nice start to 2021, up to $1915 and climbing - GLA Paddy

Artemis are first out of the blocks for 2021 with Paterson news tonight.

https://hotcopper.com.au/threads/ann-2021-exploration-begins-and-kpi-incentive-retention-scheme.5841758/

Paterson Central Au-Cu Project;
• Pending first batches of assays from selected in-field drill core from GDRCD001 and
GDRCD003 to determine the metalliferous content of strongly hydrothermally altered,
brecciated and bleached rock-types encountered at the Nimitz Target area.

• Detailed planning has commenced for a multi-rig drill programme covering all 7 priority
targets identified in 2020 including follow up drilling at Nimitz South and prioritising the
Apollo and Atlas targets for drilling as soon as practicable.

• Detailed planning of all vehicular access requirements to both undertake drilling at all 7
priority targets, subject to relevant environmental and heritage consents, as well as siting a
more substantive permanent exploration camp and supporting infrastructure to service the
Paterson Central Project longer-term.

• Final geochemical ionic leach raw assay data received and being modelled for interpretation
and public release in January.

"With Newcrest Mining’s outstanding Havieron discovery in a construction phase and the project’s minority partner now boasting a multi-billion dollar market capitalisation it is clear to us that the leverage to exploration success at our adjacent 100% owned tenure is potentially quite extraordinary. We are confident 2021 will be the year we further demonstrate that the mineralising conditions that created Havieron are also present on our ground and of course on the back of this hopefully make a significant gold/copper discovery."

ATB - Paddy