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Paddy / Casper
My primary focus also is on results of RC drilling presently going on at EG Meadows. The announcement is unlikely to be any time this month or next. Reason being: The geologists are not recovering a nice core section that they can look at and see the gold. This drilling method recovers a slurry of finely ground rock cuttings. It has to be bagged up and sent off for lab analysis. They are busy - wait in line for assay tests.
My timeline correlation is the last drilling campaign in 2016. Review the RNS. They announced in Oct 11 that drilling had started. There was no further EG news for 3 months, when they announced gold mineralisation. Results were from 4 meter composite cuttings samples.
So! This year drilling started at Meadows before 22 June. Do not expect the blockbuster RNS to drop for EG before the end of Sept. 2018
Taxman is generous allowing my wife & I to load up all our ISA allowance with tax free GGP capital gains.
We have a shed load more in a joint Investment account.
They say the first rule of investment is not to put all your eggs in one basket - there is always some dimwit who can not follow rules. I was feeling sick in February this year but I have a feeling that Feb next year the sp will have risen beyond anyone’s comprehension.
GLA
I think it was either 88E or LION. I will have to look up the link tomorrow. Anyway, it taught me to not put too much faith in popular opinion about the next blockbuster share recommendation.
However, I am glad that I got locked in to GGP. I should be making a handsome blue profit tomorrow but will I sell? Not yet - too early.
Give the bickering a break, kids.
I remember the Xmas list of 3 shares you would recommend for 2018. GGP was most popular proposal, followed by UKOG. Both of these should see some spectacular price changes following any RNS release. I lost the faith and sold out of Wealden oil but I am glad that I put the proceeds into Greatland. I have increased the number of shares I held between Xmas 17 and June 18.
The proof of the pudding will be the Christmas accounting at the end of this year
Welcome back and my sympathy for you having sold out in Q1 2018. I remember your comments on the B.B.
you have missed some interesting discussion on Newmont’s decision -not at this time- with GGP.
Personally, I think there is still a good relationship between GH and NEM. The time may come after EG Meadows results are announced this October. The price explosion we were all anticipating this new year will happen before year end.
An interesting article here although it relates to evaluation from an American perspective with figures in US$ and not GBP or AU$. http://www.resourceinvestor.com/2011/10/11/how-evaluate-gold-deposit-comparing-two-deposits
The figures are out of date, having been written 7 years ago but it certainly brings home the complexities of determining the initial estimate value of a discovery. It still makes Havieron HAD001 look like a bonanza!
Correct Stumpy. Answers on the GGP website. http://greatlandgold.com/company/
Starvest have 85M shares in Greatland. CB has a personal holding of 24.5M. Gemma Cryan, for all her exploration management work, does not appear to own shares as an employee of GGP. These shareholdings are low in comparison to the 121M held by Stephen Beetham. There was some speculation last year about Paul Johnson (ex-bod) holding of 93M shares The Annual Accounts show information on private investment: HL punters held 493M shares, a fair few of which belong to me. A recent post showed that GGP was top of the HL stocks for shares bought & sold (along with UKOG). Only no. 8 & 10 in value of stock bought & sold. The share price is too cheap!
Best wishes all for a stunningly good RNS whenever the next announcement drops.
We rarely give enough credit to the part of GGP Board and their canny decisions. The strategy has been in play for years. CB was the explorationist with early vision. Gemma Cryan is now bringing on the results in the field. GH is playing a blinder with the market and will get maximum value selling on to mining companies.
I have been heavily invested for 9 months and was caught out by the Jan RNS with subsequent >70% drop in sp. I held on and have increased my shareholding. I well remember a BB comment in late Jan to say that Newmont DSG work and the ND agreement has only increased the chance of proving a large, new gold province that could be the biggest world class discovery in a decade. Mr Beetham gave a boost of confidence.
Black Hills and Havieron announcements did surprise me. I note CBs comment that EG is the jewel in the crown. I share his belief that Meadows will be a giant discovery. For me, the RNS in October will be the one worth waiting for.
Others have speculated negotiation tactics. When Newmont declared -not at this time- it could well have been because CB & GH would not sell for peanuts. Understandably, NEM wanted the gold proving up in the most prospective strike area. We are rc drilling now and 24 holes is hard hitting.
This share will go down in history as being a spectacular performer in 2018 and beyond.
Best wishes to all shareholders. 🥇 😆
Itsallamess / Tiburn - very good points about the timing of results from rc drilling at Meadows.
A correction to make - they will not recover cores as at Havieron but a slurry of rock chip cuttings. Nevertheless, drilling is the best way of proving this resource & CB is hitting it hard.
I do not think with 2016 EG drilling that they drip fed the assay results part way through a 23 hole programme. See RNS of Jan 2017. The results are so important in 2018 campaign that they might be obliged to inform the market as soon as first results come out of the lab. July or August could bring another bonanza announcement together with a declaration of partnership with Newmont.
GLA
Just taken a look for 1st time. What struck me was the relatively short time between DALR announcing spectacular gold results & the acquisition offer from a mining company. 5 weeks - that is a fast decision. Of course, if you are not invested it is too late once the RNS is released. Instant market rerate.
I have been heavily invested in GGP for 8 months through much turmoil. My sights are firmly on the outcome of rc drilling at Meadows EG. There has been more exploration technology applied to this prospect than any other and it could surpass results at Havieron or Black Hills. My time frame for results is Sept/Oct. I believe Newmont will reappear.
However, I doubt if there will be a cash offer 5 weeks later!
GLA
I just posted on their BB. I sold UKOG and put the money into GGP. No regrets. IMHO you will make money trading UKOG in the short term but the prospects in Sept/Oct are grim in comparison with this multi-project bonanza share.
GLA.
And we have not heard much from StewToad recently or, at the other extreme, the ParaRanger. Did he sell out when it did not hit 2p in May?
Mistake in my previous post. Beetham commented on Black Hills, Thursday but has said nothing since Havieron core results were published.
Methinks that Stuart Beetham has not commented on this B.B. since the Havieron RNS last Thursday.
As I pointed out, most of his share accumulation was at a price below 0.8p. He must be feeling very happy right now. 💰 We can be reassured that he says he will not be selling until 10p. My guesstimate is that should happen following the EG Meadows results in Sept/Oct. However, on this weeks climb it could be reached before that.
GLA
JC, the core drilling rather than rc drilling, was specified in the RNS of 18 April
http://greatlandgold.com/media/investor-news/
Historical drilling at Havieron suggests IOGC deposits, examples of which include Ernest Henry mine. Take a look at their website & note extent and depth of deposits.
http://www.ernesthenrymining.com.au/en/about-us/Pages/history.aspx
A shaft underground mine following the high grade seam of 21.23 gram/ ton would be possible.
Interesting technology!
JC, they have been diamond core drilling at Havieron. This is the best technology & most expensive method. EG, by comparison, has a programme of 24 reverse circulation holes. Not as definitive information. If all 4 recovered cores test for comparable grades of gold & copper then this is an indisputable BONANZA. GH will not be full of hype.
Previous RNS indicates 4 holes cored to a depth of around 600 meters. If results are exceptional then there are commercial open cast mines deeper than this in Oz.
I hope to top up here before the next results are announced!
GLA
Unusual for GH to release a pre-opening RNS but what a winner. Many were convinced that Black Hills good was to be matched by Havieron bad news. Not so.
GH is in London today for an investors conference & we will have an interview. This is spectacular news for him to promote
Quiet on the B.B.! Calm before the storm?
For those who missed the post during the storm last Thursday, Stephen Beetham was clearly pleased with the RNS & the sp rerate. His comment was that he would not be selling until the sp got to 10p.
This reminder is that he is a major shareholder in GGP with some 121 Million. I calculate he held 50M at an elevated price before the Newmont announcement in mid-Jan. He then steadily loaded up between 22 Jan to 6 June. S.P. was between 0.54 and 0.8p. No wonder he is happy with the news from Black Hills.
I have nothing but admiration for this man. I held a lot of shares last year & was shell shocked after the RNS of Jan. I hold even more shares now. The fact that Mr. Beetham was prepared to put serious money into GGP was a morale boost for all burnt bodies at that time.
I would not be surprised if Mr 4% gets his 10p share price in the next 6 months, before Christmas.
GLA.
Results of the 23 hole drilling campaign at Meadows etc will be announced in October IMO.
I have consistently said that these rc drill results are the most important of all the prospects. Others also have commented that diligent exploration work has been done: Aeromagnetic, 2016 drilling, 2017 Newmont DSG & 2018 MMI. Greatland are now showing at Black Hills that they have a competent exploration director and Geology Manager.
I had a large shareholding last Christmas & things were looking good. Since then, the risk is less. All results indicate a system has been located, to be proved up by an extensive drilling campaign which has commenced.
The results will be available by the AGM in November & this Christmas is going to be very memorable.