Member Info for PaddyGall

The briefing book has a lot more info in it.

https://www.asx.com.au/asxpdf/20200814/pdf/44lhg7zt0htktx.pdf

https://www.asx.com.au/asxpdf/20200814/pdf/44lhg421j2mfs5.pdf

@Chris - I might be wrong but I think Jerry's opinion is that the extra capital would be reflected in the Mcap and therefore in the SP of the company. If you want to take some profits then you just need to sell some shares and therefore the Mcap is not affected whereas issuing dividends every year would obviously reduce the value of the company by the subsequent amount.

We'll see what transpires over the coming months & years but either way it should be lucrative for that LTH's in here.

ATB - Paddy

Hi Lenz - I didn't doubt that you had seen that as I've seen those figures quoted before but as far as Newcrest are concerned the metrics to determine a Tier 1 are as stated. I'm pretty sure that Havieron is a hit on all those metric already without any of the additional ounces to be added.
GLA - Paddy

@TomE - I haven't seen any confirmation anywhere of what contractor we will be using, I would assume we would want to use DDH1 as they have the experience and are supplying the rigs for NCM at Havieron but there has been no news on this yet as far as I'm aware.

@statto - fair play mate, you are entitled to your opinion. So if we did manage to get to tom_the_bomb's estimation of FCF of £134M per year. How would you see the company employ that capital over the coming years?

ATB - Paddy

Newcrest definition of a Tier 1 deposit

Scale Potential for > 300 kozpa Au
Mine Life Potential for > 15 year mine life preferred
Cost Position (AISC) <$800
Value Upside Significant resource or exploration upside likely

@Lenz - not according to Newcrest - look at page 54 of this briefing book.

https://www.newcrest.com/sites/default/files/2020-05/200512_BAML%20Conference%20-%20Briefing%20Book.pdf

@TomE - I can't be certain whether it's the drill rigs or support vehicles but there has been activity in two locations at Scallywag over the last 4/5 weeks.

ATB Paddy

Personally - I don't want NCM drilling our test holes at Scallywag, we need to drill test them ourselves and if we find good mineralisation there then we can negotiate from a position of strength IMO.

ATB - Paddy

tom_the_bomb - so if we were to get roughly £60M per year FCF and GGP were to keep £20M to cover all exploration & admin costs then we potentially could be looking at a 1p dividend per year (sorry Jerry) just based on the Hannam report on the sulphide zone up to the March quarterly.

I'm up for a bit of that - Paddy

@JET47 - Greatland usually stop exploration field activities around the end of November and restart in March / April.

We expected this to be the same at Havieron last year but Newcrest continued to work 24/7 right through the middle of the Aussie summer, only stopping for a 2/3 week break over the Christmas period and we have been lead to believe that this summer will be the same out there. This if nothing else shows their total commitment to the project.

ATB - Paddy

Another nice piece released today - I especially like the last paragraph.

"The company’s profile has been massively enhanced and the £540m market cap puts it on the radar of institutional investors."

https://www.growthcompany.co.uk/gci-digest-august-2020-greatland-gold-2593895/

GLA - Paddy

Still lots of equipment located there but nothing new that I can see since the last update 5 days ago.

ATB Paddy

Satellite update is in for today - no new big step-outs to report but the 8-9 rigs are busily beavering away with a bit of re-positioning going on over the last 5 days.

https://twitter.com/paddygall1/status/1293831962424205312?s=20

GLA - Paddy

Speaking of which WF - it's been brought to my attention that DDH1 are stilling looking for crew for up to 7 drill rigs. I don't know if these are new additional rigs or perhaps they need more crew to man rigs 24/7.

https://www.seek.com.au/job/50346993?type=jora-promoted

Here's a great video that shows DDH1 rigs in action - https://www.youtube.com/watch?v=TGdohgS-W0Q&feature=youtu.be

ATB - Paddy

Did anyone notice that the Artemis release yesterday was signed off by Dr. Jayson Meyers as the competent person. The Artemis reports are normally signed off in-house by Ed Meade I think. This Jayson Meyers founded Resource Potentials in 2001 and is a Principal Geophysicist and Director of the company.

https://www.respot.com.au/member/dr-jayson-meyers/

It looks like he has a very good reputation to uphold and must be pretty confident with his analysis of the region. If you look in his bio he has won awards for his work especially looking for deposits under cover.

'A long research and teaching association with Curtin University and CRCs in the area of geophysical exploration for blind mineral deposits under regolith cover or along deep structures. Jayson was awarded (joint) the Laric Hawkins Award in 2000 for the Most Innovative Use of a Geophysical Technique presented by the Australian Society of Exploration Geophysicists, and is an author of many peer reviewed articles.'

ATB - Paddy

Hi magic - nice to have some professional opinion to back up my amateurish stab at trying to explain the map.

Looks very, very exciting from where I am looking. Have you noticed that the mafic dyke that runs through Havieron also continues up northwards and eventually terminates near the Outamind target and there also appears to be another splay fault that travels north through the RIO ground and bisects Outamind & Goliath - looks like there are multiple fluid pathways, granitic bodies, etc, etc.

All the necessary components, and we already know there was a mineralisation event (or multiple ones) in the region so the probability of other deposits have dramatically increased if this map is proven to be correct.

ATB - Paddy

I noticed there was a lovely new image on the Artemis release from last night that showed the whole area in detail with new interpretations of the Havieron Fault, Mafic intrusions & granitic bodies which I hadn't ever seen before. I decided to import the image into Google Earrth and see how it lined up with our targets in Scallywag & Paterson Range North.

https://twitter.com/paddygall1/status/1292772699727691786?s=20

See where the Havieron Fault Line folds back on itself and then dips to the South into the RIO ground - 3 of the Scallywag targets - London, Kraken & Blackbeard are all located in that area. That looks like a very good place to be drilling with the fault line folding around and surrounding the targets on 3 sides.

There is also another fault line that splays off the Havieron Fault Thrust and heads North through the RIO ground and up into our Paterson Range East and you can see where it goes to in relation to the targets up there also.

ATB - Paddy

Telfer can process up to 25 million tons of ore per annum. Initially if Havieron is going to be a high grade selective mine then they will probably be producing at maximum up to 2 million tons so I don't think capacity will be an issue at Telfer especially as there own ore becomes less productive.

ATB - Paddy

I don't think they are any more or less 'clued' up than the GGP management - remember the CEO at Artemis now is Alastair Clayton of Primorous who has been following the GGP story for years and has been invested here all that time. Alastair also is a qualified geologist who studied at Perth University and did his thesis on Telfer and Telfer style mineralisation so yes he has an intimate knowledge of the region but I don't think he will be any more clued-up than Callum Baxter.

Anything that Artemis turn up can only help GGP with their understanding of the regional structures in the Paterson area.

Good luck to them - we will be ahead of them with the drilling at Scallywag and the cover there should be substantially lower also, that's where our near term focus needs to be now.

ATB - Paddy

Which is that WF - the Balrog or the Kraken??? :-))