Member Info for PaddyGall

Morning / Evening reddirt,
shouldn't be too much longer until we find out - can't see the Scally results being an intraday RNS (although that would be nice) so that leaves tomorrow (doubtful on a Friday) or Monday / Tuesday if GH wants to get them out before the AGM.

I realise that he's constrained by the speed the labs can turn it around but I'm sure he would love to release at least something from Scally prior to the AGM.

Ohhh - it's getting exciting now, ATB Paddy

The term for Whiskey in Ireland is "uisce beatha".

Literal translation is "water of life" - says it all about us Celts :-)))

Slainte - Paddy

For anyone interested the Sentinel update is available on the EO Browser now and it is a nice clear image of Havieron and surrounds.

It confirms the earlier blurry picture from planet.com that the activity is all around the centre and north of the deposit and is probably chasing the Northern and Eastern breccias.

Also interesting that the original field camp seems to have changed dramatically with all the accommodation trailers seemingly having departed - it looks like the core-yard and associated equipment is all that remains there so we can only assume that the new NCM exploration camp further East is up and running.

https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=-21.72528&lng=122.65145&themeId=DEFAULT-THEME&datasetId=S2L1C&fromTime=2020-12-01T00%3A00%3A00.000Z&toTime=2020-12-01T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c

GLA - Paddy

Still nothing happening on the Sentinel satellite front but I have managed to get a clear-ish picture on planet.com today.

https://twitter.com/paddygall1/status/1334135069175394304?s=20

Looks like the activity has pretty much stopped on the W/NW region and most of the rigs have moved back into the centre of the ore-body. Where they are positioned now makes me think the are probably targeting the N / NE breccias - hopefully we should see all these drill holes in the December quarterly report at the end of January.

BOL - Paddy

Scotiabank have released a 69 page broker note on NCM in which Havieron is mentioned 54 times.

Have a look at the valuation that they have put on NCM's 40% share of Havieron (obviously the report was compiled before Monday's news)

https://twitter.com/paddygall1/status/1334111607534850048?s=20

GLA - Paddy

The scanning machine will have photographed the cores in HD and been able to determine sulphides and copper in the cores which will determine the best ones to send for assay, but the can't determine the gold grades from the scanning.

From what I've been told the only way to determine the gold grades is by fire assay at the labs. Stand to be corrected but I think that's correct.

They will be very confident from the visual cores though from the experience of looking at thousands of metres from Havieron over the past 2 years - it's gonna be MEGA IMO.

ATB Paddy

"As a consequence of a ground segment contingency affecting all S2 PDGS processing centres on 1st December early morning, the nominal availability of Copernicus Sentinel-2A products from sensing orbit 28427 to 28432 and Copernicus Sentinel-2B products from sensing orbit 19519 to 19523 was prevented.
The recovery of missing products has started and will be completed in the coming days.
We apologise for the inconvenience this may cause to your activities."

Message on the Sentinel Hub Homepage this morning.

Nice to see +28p getting paid already this morning - ATB Paddy

@jdt1990 - none of the banks - even the specialist Aussie ones - would loan without a BFS (Bankable Feasibility Study) in place. We have to fund our share of the remaining costs of the PFS and the BFS afterwards. The deal with NCM keeps them onside - secures our future without further dilution and probably in return we have given up a percentage of the "UNPROVEN" Black Hills & Paterson Range East prospects.

If they hit we have still retained 25% upside - if they don't it costs us "NOTHING" - Havieron is the future of this company - anything else is just gravy as far as I'm concerned. Seems like all the big II's and funds that have been taking massive chunks of GGP over the last week aren't too bothered either - follow the money - Paddy

I think the Sentinel Hub website is undergoing some maintenance on the 1st & 2nd December - I'm guessing that this is affecting the data transfer from the satellite to the browser?
Hopefully it will be available tomorrow - even the planet.com site is missing the section that shows Havieron.

Great to see a finish at 28p - might be more games tomorrow but we all know the outcome of the games, don't we children.

ATB - Paddy

Yeah - that's the kicker here, we will get 2 valuations - one based on the sulphide stoping operation and another that will take the breccia into account in a bilk mining operation.

Nice - something else to look forward to - Paddy

Hannam have just issued a new broker note but will hold off on an updated valuation until after the maiden JORC resource in December.

"Valuation under review pending maiden JORC Resource
We are awaiting the publication of the maiden Havieron JORC Resource in
December, which we will use to update our DCF valuation. Our valuation is
likely to incorporate both a bulk mining valuation scenario via a caving mining
method, in addition to the currently modelled sublevel open stoping scenario
on the high-grade sulphide zone. The scale of the breccia mineralization
footprint is significant with typical grades of over 1 g/t, which bode well for any
future economics in a bulk-mining, caving operation."

So add a new broker note before the end of December to the list of events before year end.

GLA - Paddy

@Lenz - 100% mate, GGP are ticking every box and must be a dream investment for someone like Steve. He will ride this all the way to buyout or production. When people like that are enthused (we assume he is in GGP) about our little AIM company then you know you are in the right place - ignore the shenanigans and hold firm IMO.

DYOR & all the usual caveats apply - Paddy

Interesting interview with Steve Todoruk from Sprott Global. He's a very well respected broker / geologist who specialises in discovery plays and I'm sure Hydrogen has had correspondence with him re: GGP in the recent past.

Lots of relevant points that he makes that are totally relevant to GGP and their strategy going forward.

http://www.kereport.com/wp-content/uploads/2020-11-26-Steve-Todoruk.mp3

GLA - Paddy

Shame they don't appear to be providing a webcast of the presentation - some of the other companies presenting today seem to be doing so.

The conference is normally held in Toronto so understandable that it's more Red Chris focused but nice to publicise Havieron to the NA audience.

ATB Paddy

Of course he has a very good idea - they will have used the hand-held XRF scanner on the chips / cores as they came out of the ground and he confirmed that they had performed scanning and logging of all samples before they were dispatched to the labs.

For anyone who hasn't seen what one of these machines can do then it is worth watching this video for a few minutes.

https://www.youtube.com/watch?v=RzQ9gDVqiIA&ab_channel=BoartLongyear

ATB - Paddy

If anything it will bring that dream a little closer IMO, great post by jdt1990 - spot on with your analysis IMO. Something has to give if we want to try and unlock the region and remember with 10/12 potential targets in PRE alone if even a couple of them turn out to be like Havieron then you can buy a penthouse overlooking Central Park.

Look - I'm not saying that we should follow like sheep and hang on every word that GH speaks and if you have genuine concerns then I would recommend emailing either GH or CB with polite well reasoned questions. In my experience they are very good at getting back to me with answers (once it is not something sensitive that they can't answer).

We are all invested for the same reasons - to make our's and our families lives a little easier - I've got 4 kids to put through Uni for Christ's sake. I do believe that we are on the cusp of a genuinely massive 12 months (say this every year though) and as always I will be staying fully invested for the foreseeable future - can't wait to see what the next 2 weeks bring.

GLA - Paddy

It's called negotiating - what if GH knows that he has banging results at Scallywag - he has roughly £5-6M in the bank.
He's easily going to spend that cash drilling Kraken / London out to a higher level to make our future JV negotiating hand even stronger. So then he has to leave PRE & Black Hills completely untouched next year.

You either trust that they are doing the right thing for the shareholders and company or you don't. Time will tell whether it was the right decision or not but you're criticising the decisions made without being in possession of the full facts.

Only the BOD and other people who are inside can judge that at his point in time - the BOD has my full support at this present time - Paddy

GH said in the interview today that once the DFS is in place he can go to any number of Aussie banks and refinance the remainder of the loan at better rates if necessary - it's called a bankable feasibility study for a reason.

Sure he could have raised more capital through further dilution but has already stated that he wouldn't do this.

He could have gone down the SOLG route and raised finance through multitudes of avenues and risked p*ssing off our partner who have been exemplary in the farm-in up to now.

Even though we're not an equal in this farm-in I sense there is great respect on both sides and long may the amenable working relationship between the two parties continue - I'm as happy as a sandboy for what it's worth.

Cheers - Paddy

@badshah - it was a package deal this time IMO that included the most important thing in GGP's future at the moment - securing the financing to allow us to see Havieron through to production.

So we had to give away more that we would have anticipated on PRE but remember we had 2 drilling campaigns under our belt with world class bonanza hits when we negotiated Havieron - this time we have un-proven, un-drilled (albeit highly prospective) ground that NCM wanted to tie up and IMO we have got a good deal and personally I am very happy with the outcome.

Don't forget that we have retained our 100% ownership of the only other prospect that we have drilled and we are all awaiting with great anticipation the results of the first assays from there - this could be the final piece of the jigsaw that makes the whole package come together - I am prepared to put my trust in our CEO and the board of directors who have increased my investment by almost 2000% in the pat 3 years.

GLA - Paddy