Member Info for PaddyGall

"Now, the broker expects a deposit of 12.5Moz to be delineated based on the current drilling (versus 5.5Moz previously).
Based on the average EV/reserve ounce for the Australian mid-tier gold miners at USD696/oz, and assuming a 50% probability weighting, Berenberg said this generates a new price target of 33p/share (from 22p/share)."

So if they are assuming a 50% probability weighting that gives us an un-risked SP of 66p - Booom.

GLA - Paddy

Also this one from The Investment Observer.

https://www.theinvestmentobserver.co.uk/companies/2020/12/15/greatland-gold-price-target-boosted-50-by-berenberg/

Morning all - my phone hasn't stopped binging for the last hour on my drive into work.
A bit of a shock to hear the news - just going to listen to the interview, but wanted to say thank you from the bottom of my heart to Gervaise for all the work he has done over the past 3 years that I've been invested.

Catch up with you later guys - Paddy

I've tweeted a picture of it on here.

https://twitter.com/paddygall1/status/1338571578339102721?s=20

ATB - Paddy

@Hopefullygold - I can see Gervaise & Callum looking at the Scallywag results - "F**k me dead" Callum those are bonzer grades mate. Funny video lol.

Fair to say that Newcrest are looking at Tier 1 potential prospects and following the exploration model that seems to be hitting all the right notes at the moment, then PRE & Black Hills are ticking the boxes for them, especially if Scallywag does come up trumps.

Anyone see that Newcrest have terminated their JV with Encounter Resources overnight. Maybe they need to free up some resources for the start of the Juri JV next year.

https://www.australianmining.com.au/news/newcrest-backs-out-from-west-tanami-jv/

ATB - Paddy

I don't think it will be a giant squid coming out of the depths of Scallywag, but it might be a giant Kraken.

Come on Gervaise - release the Kraken :-)))

GLA Paddy

Why not Zoros?

I would understand your point completely if GGP were trying to go down the SOLG path of raising the finance to develop the mine ourselves without any of the necessary experience or expertise to do so. We would be looking at a long drawn out protracted period where we would all be diluted to nothing.

GGP have no intention of doing this - We are on a free-carry to the feasibility stage through our $50m funding loan from NCM - once that feasibility study is in place GH can re-finance that and get any additional finance required through bank funding (as he already alluded to). The real value of Havieron will be from the profits of the processed ore and not from any $ in the ground value that would be assigned to it.

Seriously - 2 years to wait until "commercial production" from a Tier 1 asset in WA. Also the share price should re-act accordingly so that anyone who wants to bail will have plenty of opportunities to do so in the coming months & years.

It's a no-brainer IMO - Paddy

Might I add, at that point we would be generating an income stream from mining activities and therefore would be eligible for inclusion in the GDXJ's big brother.......

It's a couple of years from now until "commercial" production starts - there will be an income stream from "development production" before then IMO.

As Bamps pointed out, all the ore that is removed when they have sunk the decline to 400m will be treated at Telfer and our percentage from that should become available from Q3 / Q4 next year.

ATB Paddy

I think you'll find they have said on numerous occasions it would be 2-3 years from START of decline and not completion.

NCM have exceeded every time target that has been set on this project - I'm expecting them to continue to do so.

ATB Paddy

Nice write-up this morning by Charlie Stephenson - the SI Capital geologist.

https://spotlightmining.com/blog/havieron-the-discovery-of-2020/

ATB - Paddy

You can download the latest index rebalance from here but you need to register for an account with MVIS first. It will show you the change in weighting of GGP in the index. The actual buy is then worked out by far cleverer people than me but rest assured it will be substantial.

https://www.mvis-indices.com/reviews/download/MVGDXJ/direct

ATB - Paddy

Found a link to this initiation note for Artemis on CEO.CA this morning. I know there are some people here invested in Artemis and there is loads of good info in there relating to Havieron also.

https://www.taylorcollison.com.au/wp-content/uploads/2020/11/ARV-201130-Initiation-final.pdf

ATB - Paddy

Zoom out - it's a blanket of fluffy white cloud. Lots of rain in the Paterson at the moment.

Another interview with Steve Todoruk from Sprott posted yesterday.

Again he doesn't mention the juniors that he's invested in WA but we can all guess at one of them at least.

https://www.youtube.com/watch?v=wXUfft9sSvg&feature=youtu.be

ATB - Paddy

We've seen it numerous times Spy - we'll get a false drop on Monday and the SP will be red all morning. Getting boring now - maybe they should try a different tactic.
Good Weekend to all - Paddy

PS - looking forward to seeing the rebalance numbers tonight.....

Well Speedy - I'm very fond of a Mickey prediction I must admit.

The secret to it from my perspective was the research that was put into the share from the beginning. There were really good contributors like Tiburn who kept me going before I got confident enough to start posting the info that I had found. Also the Australian WA websites are full of great historical and current information on deposits and previous mining operations.

Havieron had a wealth of data that I managed to dig up and when the cold hard facts of what NCM said back in the nineties was married up with the drill results then it made it easy. It also helped that the SP didn't really react to the first 8/9 months of NCM drilling even though they were outstanding. When it did start to jump around January this year the amount of drilling data that was stored was enough to convince me that Havieron was something special.

This board (even though it p1sses me off at times) is quite a special mix of people from all walks of life who all contribute in their own way to the collective. The confidence is infectious but never unwarranted and long may it continue.

I'm sitting on thousands of percent profit in GGP and happy to let it ride - we all know where this is going in the medium to long term.

ATB - Paddy