Member Info for Culpepper

In doing these mathematical exercises, it’s very hard. So I rely on the ‘experts’, even though I said earlier they were likely to be wrong.

For instance, how do you with some sort of certainty determine Hav’s capex, to include in Greatland P/E ratio, despite stuff in the admission document. Things can change, FS will prevail, largely.

I’m pretty happy in my own mind that April’s guidance will not put a damper on things. I am though, surprised to read so many think the sp isn’t progressing at least satisfactorily, in recent times. What more do they want?

If it’s a price you’re looking for, housebrokers, analysts will have done all that. And come up with sp forecasts, They’re usually wrong, one way or another. I mean it went to the thirties didn’t it, on what we now know was ‘enthusiasm.’

You can’t ignore earnings though, either p/e wise, or on the practical company basis of cash-flow.

It’ll be interesting to see what you come up with, how undervalued Ggp is.

I imagine everyone will review, update, on April’s guidance.

And so it will go on. Through to Hav FS this year, and on again.

And of course, people, longer term, want to be convinced by RNS or determine for themselves there’ll be no gap in revenue before Hav comes on line - even though there is a debt facility all but finalised, subject to normal banking conditions,

There’s been a lot on here about relative pe’s. If you want to go down that road, why not, then you’re judging Ggp as a whole on its earnings, trailing or forward. It’s now put itself firmly in the situation where that, I think, will increasingly be the case, and next month will be the beginning of it. And add in a dose of pi sentiment.

This is a thing gets mentioned every year, a lot of chat boards. I don’t think I’ve heard commentators mention it as a driver, or noticed any difference to sp’s as a result.

In relation to the initial comments, Greenland has recently elected a pro-business govt, who seek to diversify the economy and seek inward investment to ecologically support resource extraction, on a slow road to independence.

Sea routes have opened up for bulk, and full year production will occur.

Https://www.share-talk.com/amaroq-minerals-everything-you-need-to-know-interview-qa/#:~:text=area%20of%207%2C-,866,-.85%20km2%20in

It’s a 2023 article, but remains valid in terms of Amaroq’s general strategy. I emphasise the Gold Grade because the tonnage at first sight doesn’t seem to cut it. And it highlights the rarely mentioned JV with GCAM, Moore Capital, Bacon.

Mining operations have suffered circa 30% inflation as a global average. How can you mitigate capex costs? How is Nalunaq ‘low cost’ — can you qualify this claim?

Grade is King! To put this simply, our inferred resource grade is currently 28 g/t (grammes of Gold per tonne of ore mined) which is in the top 2% of Gold mines in the world. If another mine is running at 7g/t, then they will have to bring out 4X as much ore to deliver the same amount of Gold. At 3.5 g/t  is it 8X more ore that has to be mined and processed. Obviously this has significant implications on ‘cost’.  This is the reason the mines with the lowest AISC (All In Sustaining Cost) in the world are the usually the mines with the highest grade. Regarding Capex, we managed to procure and purchase most of the large components for the processing plant in 2020 and have them currently in storage ready to ship so we have luckily avoided the inflationary increases that we have seen recently and the long lead times that are evident in the market for this type of equipment.

1. There’s been a lot of investment into Amaroq recently; GCAM’s £18 million subscription for 49% of the Gardaq JV, the $49.5 million senior secured financing package to bring forward production at Nalunaq, and £30 million of capital fundraising. Can you paint me a picture of the company’s current financial position, including cash runway?

We believe this is a great testament to the potential of Amaroq, the quality of management and the support we have from our shareholders. GCAM (a consortium of High Net Worths led by Tim Leslie and Louis Bacon) Gardaq JV gives us £18m to explore, drill and quantify our Strategic Metals portfolio over the next 3-4 years. The £30m of equity and $49.5m senior secured financing package aims to bring the Nalunaq mine into initial production as well as more exploration drilling at Nalunaq to keep increasing that resource. The intention is that the future cashflow from Nalunaq will fund the company going forward to bring the other advanced exploration targets in our Gold portfolio like Vagar and Nanoq up the value chain. Early indications are that these have the potential to be Tier 1 multi-million ounce deposits but we will require the Drill bit to prove it!

Amaroq Minerals: Everything You Need To Know, Interview - Q&A - Share Talk

There will be revenue. But my understanding is they won’t have worked up to nameplate capacity, steady state, until later on in the year. I anticipate Friday will see where they’re at.

“The upcoming June 2025 quarter is a very exciting one for Greatland, in which we will report our first full quarter operating results for the March 2025 quarter, give production and costs guidance for FY2025, deliver our inaugural Telfer Ore Reserve estimate, and list on the ASX."

In a nutshell, a raft of events/information, determining nearer term prospects.

Gold in the ground, I think, is more related to life of mine, continuity of profitable extraction, in due course the prospect of regular dividends.

The share price, broadly, is likely to become based on earnings per annum. Guidance for FY 25 will begin to put some meat on posters expectations in that respect.

And it will help, based on Mr. Day’s non-RNS’d statements, for those statements, no gap, ‘identified ore tonnage’, to be included in RNS.

I think sometimes, as a general comment when Mr. Day is speaking, the difference between Australian and UK business quarters comes into play.

I understand Q1 in Australia is July to Sept.

On a serious note, Greenland crying out for investment money to sensibly make the best of their natural resources, and diversify from tourism and fishing, and reduce the need for Danish financial support should they choose to go down the independence route.

Https://foreignpolicy.com/2024/08/19/artificial-intelligence-critical-mineral-energy-transition-china/#:~:text=Enters%20the%20Critical-,Mineral,-Race

“Energy Secretary Chris Wright.”

He’s traditionally oil and gas.

But you never know on trade. This sort of thing.

AI Enters the U.S.-China Critical Mineral Race

As usual.

https://www.dw.com/en/us-second-lady-usha-vance-to-visit-greenland/a-72013993

Maybe not, but I doubt there will be any comment on that in RNS for a while, if then. But at least those who may be concerned about dilution may see that prospect increasingly receding.

What is said in RNS to the wider market is important.

Not everyone scours for articles, interviews, about Greatland.

I believe that’s the nub of it, what all those interested in Havieron would like to see. Visibility of earnings from Telfer supporting Hav development ( with a loan in the background substantially agreed subject to normal conditions ) And on top, a bonus, the mines co-producing with no gap.

Hopefully, the more Mr. Day can say positively in forthcoming RNS, the better for a rising, more stable price.

Looks like it will no longer be a traders share, having moved into revenue with visibility on future earnings.

There’s only so many shares in issue, and they shift around.

The way it always has been.

Some people get caught up with it with no real conclusion.

I don’t, nor many others, make anything of it.