Member Info for PaddyGall

Hi Joe - we are all waiting with bated breath, no worries as far as I'm concerned.

I'm happy to hold on the strength of Havieron alone, anything else comes good, it's all gravy.

Quick update from planet.com this morning. The new activity at London has definitely ramped up so while everyone is panicking like hell here - GGP are quietly getting on with the business at hand in the Paterson.

https://ibb.co/pvGLtvh

I've also circled a second spot just on the edge of the camp that I think might be a second pad - it only appeared over the last couple of days but has been fixed there now for a while so I don't think it a temporary feature and I doubt if the camp is expanding any more at this stage.

I noticed the post from JoeBass earlier encouraging GH to reveal what they have uncovered at Kraken - I think it won't be too much longer until we find out.

We all think that GGP is undervalued on the potential size of the discovery at Havieron - what will we be if mineralisation is revealed at one or more targets at Scallywag.

Still sitting on my hands - Paddy

The fun & games will be starting now in earnest - there are big players moving in who can manipulate the situation to sort their own agendas here - just remember that the fundamentals haven't changed and both GGP & Newcrest are working flat out. The gold is still there and keep your eye on the prize and not the intra-day fluctuations IMO.

GLA - Paddy

lauren - send an email to info@greatlandgold.com - they are very obliging and I'm sure they will put your mind to rest.

ATB - Paddy

Hahahahahaaaa - you better explain to all the II's and funds that have been buying massive chunks all week that they need to sell up again quick, lol you couldn't make it up..

While people are quaking here Newcrest & GGP have been getting on with the business out in the outback. Managed to do a quick video to show the differences over the past 5 days.

https://twitter.com/paddygall1/status/1306554798293090306?s=20

GLA - Paddy

The farm-in terms are crystal clear to me - I'm just questioning whether people see Newcrest happily working through all of next year, developing the decline, drilling another 80,000 metres, all the environmental studies when they have quite clearly passed the $25M that they had set aside for this stage - all the time increasing our bargaining position and strengthening our hand.

I'll be over the moon if this comes to pass and my strategy has always been to hold until we either mine or get bought out, I just wondered what other peoples thoughts were on this??

ATB - Paddy

Thanks Tig - lucky Joe had already pointed it out and I had responded.
Paddy

Hi Joe - sorry mate it should have said "Late 2021" - my bad.
Paddy

We're only liable for our percentage of overspend in Stage 4 Stu, the agreement is quite clear. Stage 3 states a MINIMUM spend of $25M and deliver a PFS....

@WelshFalcon

"Besides, for Hav, they need to nurture the Farm-in and crystallise the JV agreement when this is possible. This needs to be done to maintain their first refusal on other GGP prospects."

I don't know if anyone else picked up on the slides on yesterday's presentation but the one with the timeline on it promised the PFS by "Late 2020" so roughly 12 months from now. But then if you look at the farm-in terms on the slide further down then you can see that delivering a PFS is part of the requirements of Stage 3.

https://www.newcrest.com/sites/default/files/2020-09/200916_Newcrest%20Delivering%20on%20Investment%20-%20Presentation.pdf

Does this mean that all the spend that Newcrest incur for the next 12 months is going to be part of Stage 3 ?? This would mean they could conceivably spend somewhere between $50-100m to achieve their next 20% of Havieron.

Any thoughts people - Paddy

Give him one on the other cheek for me Joe ...... :-))))

Good things are worth waiting for.... Paddy

The Sentinel update is in early today. No real change at Havieron apart from they are still drilling the "bejesus" out of it.

Scallywag - looks to me like they have definitely moved onto the London target from Kraken now and the activity in the far-flung NW area of Scallywag is still going on.

https://apps.sentinel-hub.com/eo-browser/?zoom=14&lat=-21.72875&lng=122.64995&themeId=DEFAULT-THEME&datasetId=S2L1C&fromTime=2020-09-17T00%3A00%3A00.000Z&toTime=2020-09-17T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c

I'll try to get a comparison video up on Twitter a little later - busy at work this morning,

ATB - Paddy

Here's one for Bamps to research maybe as I know he is a fan of Cobalt.

When you look back at the original GGP reports on the drilling at Havieron they always reported the cobalt content in the drillcores and I can distinctly remember GH getting excited about the possibilities of a large bulk scale multi-commodity mine being viable at Havieron.

https://greatlandgold.com/wp-content/uploads/2019/02/20190205-GGP-Announcement-Havieron-Drill-Results-FINAL.pdf

However since Newcrest have taken over they appear to be only interested in the gold & copper content. I have found a news release from 2017 where Antipa did some trials on the ore from their Minyari tenement (about 40km north of Telfer) to see if they could extract economic quantities of cobalt from it. Have a look here but it seems the trials were pretty successful.

https://www.asx.com.au/asxpdf/20180827/pdf/43xpvvjcx5zm9r.pdf

So with the price of cobalt at $33,000 / tonne and depending on the metallurgy of the Havieron ore it is entirely possible that with some tweaks to the flowsheet at Telfer it would be possible to produce a cobalt by-product also thereby reducing the AISC even further.

GLA - Paddy

Haha Loggy - LMFAO

Hi Roly,
Great post and I'm of a mind to agree with you 100% - the last report from Newcrest could have been the final straw that allowed the "big boy" analysts to come to the conclusion that we have been discussing for ages, especially about the bulk mining potential of Havieron and the value of it to Telfer & Newcrest.

It's no surprise to me that Newcrest's share price has been steadily increasing this past week as well.

If said analysts had the weekend to pour over and digest the report - then they would have been recommending to their clients early this week - no doubt there has been the added stimulus from the GDXJ but this looks more like genuine II's , funds etc taking a longer term view of the potential here IMO.

GLA - Paddy

Exactly that Will - unless of course every other company in the index doubles as well - then we would remain as we are. It's like a set of continually moving goalposts until the end of the next quarter.

Zoros - this is the extract from the rule book

For stocks already in the index the following applies:
• a full market capitalisation exceeding 75.0m USD, and
• a three-month average-daily-trading volume of at least 0.2m USD in at least two of the latest three
quarters (current review and also at the previous two reviews).
• In addition, a three-month average-daily-trading volume of at least 0.6m USD at the current review
or at one of the previous two reviews, or
• at least 200,000 shares traded per month over the last six months at the current review or at one of
the previous two reviews.

I don't think we'll have many problems staying in and in fact our weighting should increase quarterly as our SP rises.

ATB - Paddy

Agreed WF - the system has outgrown the frame-work of the farm-in IMO, we can't even reference the amounts in there IMO because they just are relevant to the size of the prize anymore. Having said that it's still a legal agreement and Newcrest / GGP will need to hit the milestones unless it's renegotiated to take into account the new circumstances.

All good IMHO - still sitting on hands - Paddy

Bamps - PFS is a Stage 3 deliverable according to the farm-in agreement.

Stage 4 is the Full feasibility study. So my reading of it is even when Newcrest hit the $25m spend on stage 3, they will not move onto Stage 4 until the pre-feasibility study is complete.

So it is in NCM's interest to get the MRE & PFS studies completed asap - Paddy