Member Info for Bamps21

Hi ace
It’s the mining plan we need not necessarily the MRE.
We’ve been told many times that’s there’s likely to be a 50% increase in the MRE that’s 9-10moz.
What would be desirable is knowing how they will achieve the 3mt plan per year.
The FS will be based on the 3mt plan, however NCM have said they are reappraising the whole area, so the mining plan could be released as 3mt or they may now go with something larger.
Mining plan , Mining plan , Mining plan

When you are considering comparing other stocks with Greatland it’s no good comparing anything with Havieron apart from maybe Carrapateena which is similar but lot smaller.
Havieron is a unique orebody, its compact, vertical, high grade, multi commodity, deepening, widening.
These other mines that have been mentioned are camps ie a lot of small ore bodies.
You could relate these to Ernest Giles but not Havieron.
I must say though the camps at Ernest Giles could be 10x bigger than those other stocks.

Hi Loggy
You forgot ‘carry on ramping other stocks’

Hi Droverman
They’ve changed their reporting of cut offs which has had an effect of increasing the tonnages.
Boundaries aren’t defined but easier to estimate than Havieron.
Recovery factors are not reported in this release so I’m assuming they’re still the same at 50-60%.

Another troll coming up with another super douper mine.
You know it’s the one that has 5 satellite anomalies with a 0.3g/t cut off and a plant to build costing over $1 bn.

There’s some plonkers arriving here.

Yes it’s in the historical logs for 9503 drill where the pad was near HAD009 going NW but didn’t reach the crescent.
The interviewer told her about it, the analysts must have heard about it, maybe it’s come from the outlying drills maybe 169 I think that was the closest but might be too far to SE

Slide 9
You can see a blue boundary outline, this shows the known extent of the breccia down to 950m of ore.
It’s wider in places and narrower than others but is a rough oval shape of around 800x500 x 950 deep, this equates to around 825m ton.
This 950m level is roughly the top of the Eastern breccia, we have known intercepts around the 1450m level
That blue line on NCM plan’s below the 950m level has dimensions of around 1200x800
I’m allowing for 450m depth
The tonnage below 950 equates to around 950m tons
Total 1770m ton’s getting close to Cadia’s

The southern edge of the Northern corridor is really thickening up with 2+g/t pods, one of those I measured could hold 1moz.
Still a lack of drilling through the northern edge, this will probably be left to the fan drilling to firm up

Hi MrEMC
Why wait to slide 7?
I asked the first question when slide 1 came up
:))

People also haven’t yet realised the full extent of the impact the Eastern Breccia will have on a future mining plan.
That astonishing drill 342m @2g/t , if you impose a 1g/t cut off on that it will take in nearly all of it.

So we have 3 mines at Havieron each one may be a Tier 1 on their own.
Crescent
Northern corridor
Eastern breccia

Why are people looking at Havieron being a small mine, including analysts, maybe Newmont and traders?
The only published mining plan from NCM is the PFS.
It’s only about 17 months old.
The plan consists of :-
14mt of indicated reserves
Extraction rate 2.1mt per year maximum
Life of Mine 9 years

Against Cadia 2.1bnt in reserves , Havieron is extremely small.
Why?
Answer in 2 words:- Cut offs

These reserves have a 1g/t cut off
Cadia and Red Chris have not had cut offs controlling the reserves boundaries

I will try and show how the cut offs are used:-
1 g/t cut off has to have no more than 5m consecutive run of waste/ dilution in a 10m intercept

Eg:-
0.2, 0.2, 0.2, 0.2, 1, 1, 3.2, 1, 1, 0.2
This passes the 1g/t cut off criteria

This one fails
0.2, 0.2, 0.2, 0.2, 0.2, 1, 1, 3.2,1,1

If you look at the 1 g/t model on the 3D graphic it’s not that big

The breccia have had a 0.2 g/t cut off used so the failed example above will be a pass under the lower criteria.

The PFS only refers to a 1 g/t cut off from drilling data from Feb 21

Cadia and Red Chris will not have high grade models they can’t exist and neither will that Kay mine.

Comparing Havieron with Cadia or Red Chris is not comparing apples with apples.

If Havieron was using a 0.1 g/t unrestricted boundaries like Cadia, Red Chris or Telfer then it would be a more fairer comparison .
Havieron would then be in the 1.5 to 2bn ton category.

When you look at the cut offs in the NSR shells you can see the strength of the Havieron grades
Havieron A$130
Cadia A$22
Red Chris A$15

That’s 6x greater than Cadia and 9x RC

Great things come in small packages :))

Hi Spades
I take it the nominee accounts are including the SIPP and ISA holdings.

Hi Spades
Substantial shareholders are shown on page 23
https://greatlandgold.com/wp-content/uploads/2022/10/GGP-Annual-Report-30-June-2022.pdf

From that you can see the top 9 holders with HL at the top with 1.226bn shares as Sept 22 this had increased from 1.18bn as at Jun 22.
An increase in shares.
However a drop in % holdings due to the increase in shares bringing in Wyloo.

Wyloo actually only make 3rd position way behind 2nd placed Interactive Investors with 645m shares.

These 9 top holders are all nominee companies,
That is where Private Investors shares are held.
8 of these 9 increased shares but all but one % went down.

This says to me that PI’s are still buying into the dilution share issue.

TriBeCa didn’t breach those 9

I expect his analysis will be the same as most others, if this was in Canada they’d be all over it.
My cousin was an MD of a Canadian miner when we met up I told him about Ggp and he’d never heard of them and neither had the chap who deals with his finances. They soon bought some after he flew in to WA

Just remember more orebodies equal more drilling to prove up a resource can be very costly.
Havieron is one ore body that keeps on growing.
People are still looking at our PFS and saying that’s tiny especially analysts, they’re not looking at where it is now.
Havieron now means the information is nearly 18 months behind.
The information catch up will land on us at sometime soon, hopefully when we have 100%

I’m not really keen on either consolidation or dilution been at the wrong ends of both but also been at the right ends.
As Jerry said I’m also only interested in getting the Market Cap up.
I’m not interested in dividends I want growth.
Whatever path Shaun takes I’m sure it will be the right one, especially with this cracking team behind him

For Dear John
I’ve taken a look at your Kay mine it looks a very good poly metallic ore body a VMS.
Steeply dipping, half the size of Havieron, high grade gold PFS at the bottom.
Take a look at the presentation of Ggp page 12
https://greatlandgold.com/wp-content/uploads/2023/03/2023.02.08-Greatland-Corporate-Presentation-Bell-Potter-Unearthed.pdf

The AISC of Havieron is 4th lowest at the moment and is an intrusion related system.
Kay mine is a VMS system so you need to look to the right especially Jaguar which is also a VMS system.
Polymetallics are complex systems and costly to process.

No testing yet so there are no recovery rates but if you lookat Red Chris that system has gold recovery rates of 50-60% that’s what you should expect.

Looking at the orebody the high grade pods are near the bottom and are long and thin so the intercepts long but not wide .
Where those pods and positions to each other looks like it will have a high dilution factor maybe 15%+

The stock is on the TSX so liquidity is lower.

Havieron has a beautiful vertical ore body high grade all the way down and twice the length as Kay and 3x wider.
A 6% dilution factor
88% recovery of gold and 84% copper where they are forecasted to rise.

Kay has not got a PFS lots more drilling required to get to Jorc requirements, the $58m in the bank will get swallowed up with that.
https://www.arizonametalscorp.com/_resources/presentations/corporate-presentation.pdf?v=0.822

I see the tea boy has turned up

Hi Kieffy
It depends what you mean by exploration.
Obviously most folks want to hear about but not the millions it costs to do it.
It’s drilling that causes sp increases or reverses.
Shaun is going to continue his latest stance on drilling unless they hit another HAD005.
Once free cash flow is upon us this will change it’s been mentioned in recent news.
The main exploration last year has increased the team’s knowledge of our tenements and this has been done fairly cheaply with air surveys,geochemistry and geophysics.
Examples of success stories from last year include 2 new large anomalies at PRE described by Callum as being very large, 12 nickel targets defined at Panorama, 9 gold and cobalt targets defined at Panorama, gold and copper targets defined at Bromus.
Also drill targets defined at Pascalle an Rudall

These are not what excite people but they are the basic steps to conservative, cost effective drilling

Hi Strudel
Guilty as charged :))

Hi Donald
Thanks again for putting the meeting together.
I don’t suppose you would do the Q&A in the Cheshire Cheese next time :))
The pub emptied when we left and I have to admit I was last out :))