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Trippy not trying to pick a fight but think it just need to be kept in mind that talk of corruption is far fetched when you, me, the butcher down the road could’ve picked up GGP stock for the the same price. Weakness in the price could easily be explained by the weakening in gold price from all time highs, news lull etc.

The point I was trying to make, rather clumsily in retrospect, is that the surrendering of options is undoubtedly a signal of shareholder alignment. To suggest the pigs have their nose in the trough (and believe me I’ve seen plenty of them!) seems a bit unfair when you think of the value they’ve generated in the business and the way the ship has been steered.

I think taking exception to the general concept of directors getting options speaks to a much broader point about publicly listed companies but that’s the system we are in and arguably the system that tempts the Shaun Days of this world to leave an Aussie major and try his hand at a junior explorer…..

Pretty staggering narrative establishing itself here.

Are we forgetting all those options that have been surrendered?!

Tell you something there’s been some absolute nonsense on here today. The usual boiler room scam artists telling us gold is done, GGP is overvalued and ‘sit on your hands types’ are losers who don’t know anything.

Gold sits pretty at AUD5036 at time of writing. It took all but 2 days to recover from its dip.

The YTD has the bulls right (both gold and GGP, which leverages gold by a factor of 3 it would appear). That’s there for all to see with only the most basic, rudimentary research. So what’s the point in trying to time the market as they suggest? Holding is generating big alpha.

Even if gold craters to AUD3800 tomorrow, the put options tell you we are making cheddar. So just think for a minute about all that extra profit being banked Every. Single. Day.

And let’s also bear in mind that Shaun is going to want some serious fanfare to the ASX listing. I’m quietly confident in a nice resource update prior to ASX (for the prospectus) but nothing major. However, once listed and then it’ll be chocks away showing a clear track record of consistent revenue generation, Hav FS and further resource updates.

A massive year. Nearly there.

Normal service, and even more massive revenue generation, resumed. :)

Have climbed to 4.55 percent.

That’s 405 billion a year in interest, a year.

Gold’s blip will be short lived if the bond market remains in such distress. The money printer will be warming up in short order!

Ian thanks for your post at 18:21. Lots of food for thought on the macro front.

This is actually the first bit of mainstream media I’ve seen that is beginning to grasp what drives the gold bull:

https://www.bbc.co.uk/news/articles/c5ygyjy7kz5o

There’s a bit of cognitive dissonance here talking about retail and FOMO, but about 2/3 the way through it gets to the nub of the issue: central banks are buying buying buying. If you want your currency to have credibility, you better have some gold to back it up!

Like I said yesterday, gold’s move is now about something way bigger than tariffs. It’s about the monetary system itself, and as history proves with every monetary reset, gold will be front and centre.

And all that points to a way higher gold price IMO.

If tariffs were the true driver of gold’s recent rally, we’d be back down around $2800 in pretty short order.

Instead we have witnessed a modest pull back that has actually showed signs of recovery since Trump’s speech.

Two things going on here: the market seemingly understands what the media doesn’t: gold is linked to the inflation, currency race to the bottom, mega endgame, not tariffs.

And, equally important, the market doesn’t buy trump. Yes US equities might get their bull trap euphoria now tariffs are gone, but gold price and bond yield is telling you it’s all hot air. Trump is a busted flush.

Great to see GGP investing heavily in the drill bit and with all that cash being generated it’s nice to see GGP pursuing targets as a major arm of its strategy. No sitting on laurels!

Of course I hope results will be good, but it’s also nice to know that the main Telfer/Hav axis is going to heavily mitigate any negative sentiment attached to poor drill results. As an explorer, it’s more like Russian roulette waiting for drill results (think Scally) whereas now, results are positive bonuses to the main narrative if good, and can be shrugged off if bad.

An (almost) free hit if you ask me.

There are two rainy day funds (not that we need them IMO)

The put options

And the stockpiles with 0 mining costs that have barely been touched. I think Shaun is keeping that stockpile in tact for this very reason. It’s a hedge.

I think that we are closer to NST than many people realise. The quarterlies show we can rub shoulders with the big boys in terms of cash flow and ounces at least.

Yes one could argue NST have way more projects than us. And whilst that does spread risk, it also raises costs. Look at what newmont did, they trimmed every ounce of fat they could off Newcrest and wanted to pursue only the very best targets. So even the titans of the industry want to stay lean in terms of their asset development.

A couple of world class assets, though, and you can compete with the best, and really zero in on your cost base through that laser focus on the handful of assets you have rather than trying to keep tabs on a bloated and potentially unwieldy portfolio of assets. I don’t see the fact we only have two projects as a negative, quite the opposite actually.

But, a massive part of the re rate will therefore rely on Shaun clearly demonstrating mine life, resource quality and a path to Hav production. The market needs convincing on this. I also really hope that we see some significant expansion to the Hav resource. Those are the sorts of noises being made, and again will send a rocket up the SP.

All these factors combined, and I can easily see us getting close to NST within 3-5 years. We will just be going about it differently to them.

As someone not even there yesterday I was avidly keeping my eye on Twitter for developments as the saga unfolded. Had to do a double take at the ‘wheels down’ tweet. Great video of him turning up to that applause. What a legend. Shareholder alignment personified!

I should imagine that moment will live long in the memory for those in attendance.

Any further details or info greatly appreciated of course.

Element I suppose the flip side of the equation is to consider when Greatland is being considered by a reasonable P/E ratio. That will be the true rocket fuel to the SP in my opinion and why ASX listing can’t come soon enough. Even a glittering gold price with current P/E ratios signal a modest uplift. Just hope all the ducks line up and we (and the wider sector) get a bit more love once it’s realised the sheer volume of cash the sector is producing.

Before tariffs were announced, gold was at $2800. We are now at $3200.

And yet US equities have now wiped out all their losses as a result of ‘liberation day’.

So either the world has gone back to normal, tariffs disappeared, global trade relations have greatly warmed and the US debt mountain is being sorted out, and gold is therefore overextended.

Or…the US markets are moving chairs around on the titanic and seeing who is left carrying the bag at the end of it.

Feels ominous.

Thank you Element for this excellent analysis. It’s a shame (but not surprising) that this has been lost in the wave of drivel from some of the usual suspects…

As Daz has said before, Shaun gets markets.

And markets love nothing more than companies that underpromise and over deliver.

If your calcs are even close to correct, this year could present the mother of all pleasant surprises.

Let’s not forget this is the guy who, this quarter, has bested every Aussie miner on the ASX, even very nearly downing the mighty (22bn) Northern Star. It staggers me how asleep at the wheel the market is at the minute. But I guess because Shaun isn’t some showboating ramper of a CEO, he’s just quietly getting on with things, creating massive value for us shareholders.

As I’ve said before, this is the easiest hold in town. Where could we be this time next year with a fully funded Hav FS?

Hold for gold.

I’d love it if we tracked ASX goldies. We’d be about 40p a share by now if so…

Given the fact many on this group like a good laugh I’m amazed that no one has cracked a joke about the new share ticker. 🙃

Got burned by SNG myself Jester. Key difference is that company was criminally mismanaged. Messed up the trial protocols and the ship sailed.

Key difference here is Shaun is a man of integrity with clearly an eye for the details.

Nearly outgunned northern star this quarter FFS!

Fingers crossed we have ourselves a winner here.

I think Liam is being genuine and he’s entitled to his opinion. Fair play to him for sticking his neck out for what he thinks is right. Would’ve been easy for him to sit on his hands and keep his concerns private.

That said, I don’t agree with his take. I also think he’s burned his bridges with Shaun now too!

For my own part, if a nefarious, truly lowball T/O was going to happen then the time would have been when we bought the farm last year. Wyloo would’ve likely known the direction of travel and would’ve had the jump on retail, scooping up the company (or a stake that prompts an offer) on the cheap.

If there is an approach post ASX then I think, as Shaun has said, it’ll be for an eye watering sum.

Think people are getting their knickers in a twist as once we are on ASX the danger decreases in terms of us getting low balled.

Hello all,

Thought I’d check in after a long hiatus and it’s good to see signs of life in Nano.

Obviously shades of the Samsung litigation but this is a different beast in many ways:

No discernible pipeline unlike last time when there were a few irons in the fire (or so we thought).

Is there a ‘smoking gun’ like there was for Samsung?

This clearly puts the idea of the IP portfolio being sold on ice. Don’t think they would be going down this line if they had serious interest.

Expect dilution to keep the lights on if nano hopes to weather this legal journey as a full blown operating company.

The sensible thing for the leadership to do would be to strip right back and focus capital and energy on the lawsuit to help string out cash reserves to the max. However, there’s clearly a risk they go to the well of shareholders yet again and dilute.

I genuinely wish holders a successful outcome here but worry if not successfully navigated it could cost shareholders a good deal in terms of them bankrolling salaries until a verdict/settlement.