Member Info for PaddyGall

I have nothing to add to the scintillating conversations here anymore.

Good luck to all holders

Looks that way to me Bamps - drill and evaluate - move onto the next target, GGP staying true to their process.

https://twitter.com/paddygall1/status/1676179815089463297?s=20

ATB - Paddy

Cheers Daniel 👍

Pretty sure we hit the £1Bn MCAP when the SP spiked to 27p on the GDXJ buy in Sept 2020 - not sure what the issued shares were at that stage but it was significantly higher than 2.5bn

ATB - Paddy

I'm pretty sure that Shaun is on record as saying the percentage increase in the upcoming MRE will be similar to the previous percentage increase which was roughly 50% on the original. Another 50% increase takes our resources to somewhere between 9 / 10Moz.

As Bamps has said this can not be used when planning the mine as only reserves can be used but with a current >85% rate of converting resources to reserves then we all know where the eventual size of the mine is going.

ATB - Paddy

Aussies are starting to join the dots

https://www.sharecafe.com.au/2023/06/02/greatland-rio-tinto-jv-elbowing-in-on-havieron/

Happy weekend - Paddy

It's not secret but it becomes a negotiation if that happens. If we bring out a big MRE then that becomes the new public line in the sand which is where the negotiations begin from.

Anyway it's all a moot point as Shaun has clearly stated that his preferred position is to issue the update jointly with NCM unless something changes in the meantime - their full year results are on the 11th August so we have roughly 10 weeks to idle away until then.

There are lots of other corporate and exploration catalysts between now and then - on yesterday's satellite image it looks like they are onto their 3rd hole at the Pearl target in Scallywag.

ATB - enjoy the lovely weather - Paddy

Https://12ft.io/proxy?q=https%3A%2F%2Fwww.businessnews.com.au%2Farticle%2FGreatland-Gold-teams-up-with-Rio-Tinto%3Futm_source%3Ddlvr.it%26utm_medium%3Dtwitter

Https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/newmont-widens-lead-as-top-gold-miner-nets-block-cave-know-how-in-newcrest-deal-75768724

"Telfer talk

Newcrest's Telfer, a gold mine in Western Australia with waning reserves, stands out as a front-runner to be snapped up if it hits the chopping block, according to Canaccord Genuity mining analyst Tim McCormack. Newcrest listed Telfer as a tier 2 asset in its Macquarie Australia Conference presentation earlier in May, and McCormack said gold junior Greatland Gold PLC would be a logical buyer.

London-headquartered Greatland Gold owns a 30% stake in Newcrest's 70%-owned Havieron gold deposit, which, if developed, could feed the Telfer facilities. Newcrest declined to exercise an option for an additional 5% interest in its Havieron joint venture in August 2022.

"I know the Greatland view on Havieron is that it's going to keep getting a lot bigger and better, and if that's the case, it might be attractive for them to try a stitch-up with Telfer and put the whole lot together and take ownership of it," McCormack told Commodity Insights.

With the addition to its board in December 2022 of Mark Barnaba, deputy chair of iron ore giant Fortescue Metals Group Ltd., and former Fortescue CEO Elizabeth Gaines, Greatland Gold has "built a team and a board now that's highly capable of executing and running big-scale mines," McCormack said. "I don't know why you would do that if you didn't have a bit of an intention to try to become an operator again."

Greatland Gold could not immediately be reached for comment."

2023 operations are under way at Scallywag in the past 10 days or so.

https://twitter.com/paddygall1/status/1658082563510943745?s=20

There appears to be a new clearing slightly to the North of the existing drill pad at Pearl and also you can see where there has been activity on the most Easterly of the pre-prepared drill pads at A35.

Quite early in the drilling season this year (slightly delayed due to the Cyclone) so hopefully we will be seeing assay results from the drilling before the end of the year this time around.

Anything worthwhile from Scallywag would completely change the dynamic around any potential deals again.

ATB - Paddy

Let the games begin....

https://finance.yahoo.com/news/newmont-inks-20-billion-newcrest-225440948.html

Attention will now shift to Newmont’s ability to integrate its costly and hefty target, extract savings and dispose of non-core assets to generate a promised $500 million in annual synergies. The Denver-based miner will aim to increase cash flows by $2 billion in the two years after the deal closes through portfolio optimization.

Newcrest’s Telfer and Havieron mines in Western Australia are likely to be among assets to be earmarked for sales, because the former is too mature and the latter too small for the enlarged Newmont, according to Daniel Morgan, an analyst with Sydney-based investment bank Barrenjoey.

“There’s a long list of gold companies that would look at all assets that become available,” Morgan said. London-based Greatland Gold Plc, already a partner in Havieron, was a logical buyer, he said.

Perhaps he's not

Shaun addressed that in one of the Town Halls I believe.

A takeover would not been seen as a change of control. Newmont would just assume Newcrest's position in the JV and it would be business as usual.

Newcrest have been ripe for takeover and the rumours have been flying around about RIO, Barrick or Newmont being interested in them since I've been invested in GGP since 2017 so I wouldn't say nobody saw it coming.

The departure of Biswas was the opportunity that Newmont needed to sneak in the door for what looks like very good business on their part.

Divestments will be part of the deal - Tom Palmer indicated as much in his call last week, the only thing is what will they look to divest? Will it be one or more of their Tier 1 assets or will it be the Tier 2 asset that has a ready made buyer in the wings?

Only time will tell - whatever happens we are still in the win-win scenario, it's just the eventual size of the win IMO.

Looks like the Newcrest board are about to officially back the takeover deal.

https://seekingalpha.com/news/3965271-newcrest-board-backs-newmont-takeover-bid-bloomberg

All options are up in the air and in play now, just as good starts to hit me all time highs.

Exciting times for us all.

GLA Paddy

Bring it on is what I say....

Shaun has stated on many occasions that his ambition for the company is to build a multi-asset, multi-billion £ company. He can't do that with a tinpot AIM structure. If you can't see what is taking place in front of your eyes over the past 12-18 months then fair enough.

I have total confidence in Shaun's vision and ability to deliver it - as Bamps says, let him get on with it and if anyone has questions or concerns then he will be making himself available to answer those in person towards the end of May. What more could any shareholder in a company want - you may not agree or like his answers but then the option to sell up is always there too.

ATB - Paddy

This is why Shaun wants people of that calibre on our board. They have access to people and events in WA that most junior miners could only dream of.

https://archive.is/20230429195925/https://thewest.com.au/business/herd-on-the-terrace/herd-on-the-terrace-who-makes-the-guest-list-for-reserve-banks-first-perth-dinner-since-2018-c-10482635

ATB Paddy

Hi James - Shaun was questioned about the DTM timeframe and I'm pretty sure he said it would be expected in close proximity after the DFS was released. I think he mentioned 3-4 week period but I could be mistaken.

The timescales are getting nicely compressed now - First week of May is next week, won't feel the August deadline flying round, pressure building nicely with all the corporate moves and gold is doing it's thing, basing nicely around the $2K mark.

All in all - things setting up quite nicely, just gotta wait for it all to play out now.

Yes @Sureasblazes - Greatland have the option to take back control of 100% in the event that our JV partner (whoever that may be) decide not to continue with the DTM.
NEM or NCM may not be interested in 350 - 500koz per year (although I doubt that very much) but if they are not then I'm sure Shaun & team would be more than interested.

Bring it on - Enjoy the BH weekend everyone, get out and enjoy life.....

New note released today.

https://sprott.com/media/6418/230427-ggp-scp-drilling.pdf

ATB Paddy