Member Info for Dip666

I'm surprised you comment and chat on this board at all Culpepper given the low regard you seem to hold for most of your fellow posters. I don't have an issue with anyone coming in for a potential buyout and quicker return or trading GGP, it's a free market IMO and if some want to short then go ahead, same risk in reverse as those going long. I don't like idiots posting immature garbage to unsettle folk vs giving rational posts about downsides which I for one have always been happy to debate - a very distinct difference than likes of rob9 for instance.

Why you get so upset when your own motives are queried when you like to give an opinion on or discuss the merits and worthiness of so many other people posts, as they say mate - live by the sword, die by the sword.

Don't judge others unless you want to be judged in return :-)

@carltt... ah you mean 'empty vessels' like yourself, aimless99, Mr. A.rseWhole and RobbedOfIntellect9...

Empty vessels make the most noise i.e that those with the least knowledge and least talent are the ones who often speak the loudest and the most.

Good to see you have some self-awareness Carl :-)

Aimless musings on an idle Sunday...what drew these world class mining and corporate leaders to little old GGP?

- Non Exec Chair: Mark Barnaba, member of the Board of the Reserve Bank of Australia, Deputy Chair and Lead Independent Director at Fortescue
- NED and Deputy Chair: Elisabeth Gaines, recent former CEO of Fortescue and still on the board as a NED & Global Green Ambassador (which no doubt fits in well into what will be a new and modern mine in Havieron)
- Exec Director: Jimmy Wilson, former BHP 2nd in Command and sat on the Export Finance Australia Board
- Wyloo Metals as Tattarang's mining division, owned by Andrew 'Twiggy' Forrest (2nd richest Aussie) and owner and Exec Chair of Fortescue Metals

Havieron perhaps?... the world class potential of the ore body and other prospective ground in and out of the Paterson which has also enabled:

- GGP the ability to secure funding prior to a DFS from world leading banks HSBC, ING and ANZ
- Strategic investment to enable that funding to be secured from Wyloo Metals who aren't just an investment house but develop and explore their own assets and thereby have an expert in-house understanding of mining and exploration projects
- Newcrest and GGP of course to commit funds and start development of a Production Ready Decline and other infrastructure spend prior to a DFS and DTM.

And what potential does Havieron have?

- Multi decade Gold Copper mine soon to have a near 10MoZ JORC compliant MRE perhaps and considered to be another 20MoZ Telfer like deposit by many experts
- 86% recovery rate and lowest quartile AISC globally forecasted
- The potential for base metals such as Nickel and minerals such as Molybdenum but yet to be confirmed
- Being a new mine, it should be able to incorporate leading ESG credentials including it's reduced carbon footprint due to existing Telfer infrastructure
- Newcrest currently and perhaps in future an enlarged Newmont post acquisition as a JV partner greatly derisk the project
- For GGP 30% ownership of a foundational asset that should enable further organic (both through Havieron bulk mining optionality and prospective ground owned along the structure for other discoveries) and inorganic growth through a fast route to FCF.

Aimless Wonder, such a lack of creativity, what's the next play on my nickname... let me guess, Dippy?!

You're claims of in-depth mining and ASX knowledge were slingshot into space yesterday with given examples, I'd suggest you do your homework but probably too busy watching repeats of Home and Away and Neighbours followed by 'surfing' in the Birmingham Grand Canal... on an ironing board.

You seem a bit antsy - take a Castlemaine 4x and chill bro :-)

Correction!

*playing off the move on Mincor by Wyloo to cause some suspicions in an expected quiet news period

Are you really surprised these guys haven't been banned Jiffy and VS? We've seen this before where reporting them and even copying posts from their exploits across LSE actually got Hydro and Costa bans, and Costa refused to come back from memory as he wasn't on a final warning.

Similar crew were Toansy and co. in such a coordinated rabble with low level trolling ability of twisting facts Vs likes of Bigglesworth, instead we see more childish and unquestionably ridiculous statements from these dumber zombie types. Poor Aimless999 can't even check market cap, AISC and production profiles etc. to back up his claims on ASX comparisons while claiming to be Australia's most upstanding citizen and foremost expert on mining!

IMO often the trade volumes, shares on loan etc. give an indication what this sort might be up too, low liquidity and an order to fill some might suggest or perhaps spread betters etc. playing off the move on Micro by Wyloo to cause some suspicions in an expected news period....

I mean when you REALLY think about it... the great relationship LSE has with GGP with town halls and zoom interviews being the events they've enjoyed their highest success with shareholder engagement and social media exposure the last 3 years, why aren't they rushing to ban these guys with their outright absurd assumptions and libellous statements?

What do they have to gain from relatively quiet boards being suddenly blown up into swirling masses of frenzy as positive holders try and combat these crazy assumptions and libellous statements... ad revenue, more web traffic aiding SEO etc perhaps... which is why you are more likely to get a permanent ban exposing these zombies who just return with new id's than they do managing to go weeks or months with each iteration.

It's why I treat with humour than get wound up and just use as an opportunity to combat the FUD with facts, LSE won't and have absolutely no intention of improving the boards so you just have to turn it to your favour IMO :-))

Even death couldn't stop them, they were that dumb... they didn't even realise they were dead!

Starring in alphabetical order:

Zombie 1:
Aimless99 - The Pride Of Australian Mining Lore (In his own head)

Zombie 2:
Rob '9 lives - the id's just keep a comin' no matter how many times he gets banned

And special guest star..

Mr. A.Rse - and he really is an A.Rse Whole

Hi Ace, I was hoping aimless999 decided to share that in-depth knowledge of ASX and mining he keeps talking about, looks like the little pest is more of a Flake99 and melting in the heat!

p.s great thread and posts to combat the trolling last night Panama :-)

#FactsNotFUD

Aim999 - anything related to research such as sat pics posted on GGPChat is verifiable and easily replicated by your own effort if you feel the need to assure veracity... just takes a bit of elbow grease old boy.

As for Town Halls i.e. an activity that falls under something called, wait for it, drum roll for the big reveal coming .... 'shareholder engagement' - these are literally replicated week in/ week out across the globe by other companies in virtual or physical form.

Maybe the self organised PI meets are less common, but other PI's invested in other companies also hold these... why any of this causes you to be driven to hilarity is perhaps an indictment on your own personality and lack of awareness of how the world works my aimless friend.

Obviously, the Newmont bid for Newcrest is opening up many questions if successful, do they then decide to keep the Hav JV, perhaps buy out GGP or even sell Hav and no doubt Telfer which seems co-dependent presently or even put everything on hold? The same arguments made in past with Newcrest as owner hold in place I believe for whether or not they decide to green light Hav, keep Telfer running or decommission, whichever camp you are in.

The newer scenarios are given Newmont have public declared they would loot to optimise a newer increased portfolio are if they decide to sell Hav/Telfer or try and acquire 100%. The latter would mean GGP defending value if a compelling offer was made and the Option Exercise showed the team can do this ably, moved the baseline from the PFS $228m to over $1.2bn while restricted by a data cut off date from the previous year and locked into asset price decks determined by Newcrest etc.

And Shaun has stated that GGP has the ability to bot fund and structure an accretive deal if the opportunity comes to acquire both assets fully with a supportive partner in Wyloo:
- I think one I think they are well placed to understand the opportunity but two they're on our side, they're on our side of the fence I think that that is you know great for us, I think you know my own view is they play that opportunity through Greatland but if the inference was there well maybe Wyloo becomes JV partner and you know we buy Havieron and they buy Telfer, well I, gosh it would be a really close relationship
- so I don't think there's any bad outcomes there but I you know we work you know I work I'm a shareholder in Greatland you know so other people on the call you know we unapologetically would like to keep this in our house
- we have a brilliant relationship with Wyloo, yeah I just think the way to think about that is they're on our side we'd work together constructively but if the best outcome is Greatland owning it, the second best outcome is us owning it with you know with Wyloo
- but I think that's unlikely I think they're there just to support us but I think there's no bad outcomes in that scenario.

Well, we all have our individual opinions and in the event an opportunity comes to light then we’ll all have the chance to evaluate any potential deal in how accretive it might be for shareholders and be able to vote as we see fit.

We saw Mr. A.Rse last night querying the economics of an ore body that is looking at a 86% conversion rate in what is considered a high-grade deposit, let’s see what the updated mine plan will show us perhaps. We’ve seen continued and increasing grades in the SE Crescent and the former ‘Gap Zone’ with the Eastern Breccia becoming the ‘Link Zone’ – does anyone remember which poster being maligned by trolls predicted that would occur, a clue – 4 letters and starts with B.

The NW Breccia is showing high-grade pods making both future selective mining or bulk mining a nice problem to have and what about the current 8000 Ounces Per Vertical meter from the upper part of a compact ore body – an illustrative example by Shaun was that a 4m cut delivers 32,000 ounces and feeds into an ‘incredibly efficient AISC’, in fact one that should be world class again in being one of the lowest globally.

The DFS is expected to incorporate an updated MRE and given the circa 50% CAGR previous updates show, dependent on the data cut-off we should expect to see a good addition to the existing 6.5MoZ. The circa 3mtpa being expected should correlate to somewhere in eth range of 350-450 ounces per annum and

There were some interesting snippets from the last Town Hall in what the updated mining plan might entail such as:

- yeah I think if you were in a mining area where you're only taking out Southeast Crescent which runs that you know 3.7 to 4 grams gold equivalent and you can achieve that three million ton run rate you're turning out around 400 000 ounces gold equivalent per annum
- now I think that's a zonation we're obviously going to Target I think we need to have the detailed mine plan to have that we have the working one in place what that tells you is we're also going to be especially on the south side of the dolerite, we're going to be actually taking out some of that Northern mine breccia as well
- if you've already developed the levels you're putting your mining polygon together and you can bring in some incremental ore even if it's only two grams you're probably going to take that as well

- so look I think where you end up coming out as an average mining rate between 350, 400 even 450 000 ounces per annum will really depend on that detailed mine plan but when you start with a you know 3.7 to 4 gram ore body at a three million tonne rate that's where you can kind of centre it you know a midpoint around that 400 000 ounces gold equivalent, but then I think it's I really do want to defer to that to that final mine plan as to how we optimize
- do we have periods where we're really just exclusively focused on that Southeast crescent or even higher-grade sections of it or do we have just this blended average where we maintain taking out some Northeast Crescent but it's a big mine, you know a 400 000 ounce mine is certainly top 10 inside Australia

contd...

Difficult times at the minute as we’re officially in the period we expected to have released the DFS, had a DTM and hopefully seeing the 2nd wave of the Lassonde Curve. We’re also in the midst of a critical juncture for the macro where most positioned in this sector expect a bull run in the expected havoc and aftermath, it seems 2023 could be the year this all plays out into the expected production of Havieron in early 2024.

The waters have been muddied by Newmont’s approach on Newcrest delaying the DFS/DTM but as with every risk assessment, there are threats and opportunities that need to be identified. Plenty here with backgrounds and qualifications in PM and experience in senior roles managing these areas who understand this.

Seems to me there are some here focused on only the risks and threats, whether through fear or intent – that isn’t how you fully evaluate a project and of course works both ways. And of course, it isn’t just a world class asset we have…

The GGP board now holds Mark Barnaba (sat on the Reserve Bank of Australia) and former Global Head of Resources for Macquarie Bank, Elizabeth Gaines lately resigned as CEO of Fortescue and still on their Board, alongside Jimmy Wilson formerly from BHP where he was considered the operational lead and 2nd in Command.

The Business Development team has just been bolstered by Jeremy Maynard in a friendly transfer of a business development team from Fortescue with Simon Tyrell also strengthening up the Ops team, himself formerly from Northern Star and with experience at Telfer. Some good additions there to aid driving both Institutional investment and operational and DD skills in future acquisitions and management of assets.

Funding has been arranged via Tier 1 banks HSBX, ING and ANZ alongside a supportive institution in Wyloo. Of course, some have reservations given their recent move on Mincor but there are bigger dynamics at play in regards between Andrew Forrest (Twiggy) and BHP influencing the move that need to be taken into consideration too.

Despite the current Newmont bid scenario delaying the DFS release until the T/O is confirmed or not, alongside of course optimisation studies by Newcrest and a more up to date Resource update (the MRE expected in Mid-August with FY Results) the decline itself is still being developed and now ahead of schedule and the conditions grow more optimal as they move deeper.

contd....

You too Freddie, have a good un mate and everyone else... deffo bit of a beep show at mo, alcoholic therapy deffo on the cards tonight :-))

Enjoy your weekend and wine Wasred and thanks for clearing up the confusion , you won't be the only one needing a few glasses after this week :-))

Just reposting the excerpt below from Callum's interview with Liam in early Feb again to clear up any confusion that Callum might have sold out, as we recall this was the same interview Callum was talking about win/win outcomes in his opinion from Newmont's bid for Newcrest for GGP, he pointedly seemed to end the interview with the mention of still being a major shareholder.

************************************************************************
Notes from GGPHelp Interview with Callum Baxter - 06 Feb 2023***
https://www.ggpchat.co.uk/viewtopic.php?t=659

Excerpt:
Callum
Again, thanks to the greatland shareholders that supported us in the early days and we would never have made this discovery without your support. And I'm really heartened by all the support we got over the years.

And I know it has been slightly more difficult times for Greatland shareholders in the past couple of years, the market hasn't been fantastic, but certainly everything's still going in the right direction for Havieron and Greatland and closer to production.

So, you know, I’m still a major shareholder and I'm looking forward to the rewards in the coming months.

Notes from GGPHelp Interview with Callum Baxter - 06 Feb 2023
https://www.ggpchat.co.uk/viewtopic.php?t=659

Excerpt:

Callum
Again, thanks to the greatland shareholders that supported us in the early days and we would never have made this discovery without your support. And I'm really heartened by all the support we got over the years.

And I know it has been slightly more difficult times for Greatland shareholders in the past couple of years, the market hasn't been fantastic, but certainly everything's still going in the right direction for Havieron and Greatland and closer to production.

So, you know, I’m still a major shareholder and I'm looking forward to the rewards in the coming months.

Not in the habit of trashing my own investments but the RNS could be a bit of PR too in oh well if he is issuing those warrants against those targets then he must be confident, something must be happening etc. etc. Certainly I'm confident on the Tolsa deal finalising in 2023 and like many definitely feeling the frustration on the CS Project .

TBF he seemed to understand a different approach was required in previous update rethinking how to approach potential targets and routes to market and also perhaps as with Tolsa getting some external help in pinning down a deal. I think given the lack of more public PI engagement that PC has , he's long formed an opinion that most are staying here whether they like or not due to low liquidity and he'll just focus on getting deals done - his own internal thoughts I feel - we all have varying opinions on his capability in these areas and the exercise price of the new warrants.

Should be noted DBurton is the founder of TMS Reach, good article posted by him earlier - but also always best to make any vested interests (sorry couldn't resist a pun) clear when posting content you own in a commercial sense.

Thanks and same here sand and that background does indeed make sense, I bet those risk assessments were airtight :-)

I think you're absolutely right to look at all scenarios and do a full risk assessment as such, AIM certainly isn't Disneyland, that's for sure as we well know from our GGP experience and no doubt others, have a lovely weekend too mate :-)

I agree Sand, no doubt the owner be it NCM or NEM will be shouting from rooftops about Hav as a seller :-)

I would say in that scenario is it perhaps best to not have released our own JORC MRE and try and negate their assumptions while in negotiations by picking for faults in any MRE the might then release?

Suggest perhaps more drilling density could have been used in this area or that or maybe they should use a lower assumption on asset prices, i.e. be more conservative due to X and Y factors? All be much easier to do if they can't point to our own updated assumptions IMO!

Pretty much what NCM would have been doing last year with our Independent MRE to the assessor, which is probably another reason the GGP team used the same methodology and metrics that NCM use in their resource updates I think mate... all idle conjecture of course though :-))

Hi Sand,

I think the approach I take to understanding the previous GGP MRE is:

- what was the main driver for issuing a rogue GGP MRE?
- also what was the biggest impact it had, the SP or the corporate chess side of things of saving us from a cheap takeover?

The main purpose wasn't to assist the SP imo, it was to combat NCM delaying an MRE update so they could base the 5% off the PFS and we could put a better case forward in the process to ensure that the price determination worked out as much as it could in our favour.

And indeed the independent MRE didn't really put our SP into orbit did it and why is that? Because the MRE had to stick to a 'point in time' also in the past, keep to NCM's more corporate and conservative metrics to ensure it didn't misalign with their expected update and really worry the market for one. But also because the sector was totally unloved so sentiment dampened the MRE affecting the SP BUT it ensured that we could at least place a commercial price at 5 times the value NCM were trying to stick to us.

The MRE being issued now doesn't make sense to me if we might end up buying Hav and I also I don't think the SP will move much especially with all the current macro concerns. Better to wait to see if Newmont go ahead with agreeing a price and engaging in DD for acquisition completion and then reconsider strategy. Because once it's confirmed that they are indeed buying NCM then you can focus on whether they are likely to want to:

1/ part with Hav/Telfer or
2/ want Hav for themselves or
3/ just play JV Big Brother

And if the 2nd scenario looks more likely to Shaun , then yes - get that MRE out there to push commercial value up irrespective of what effect it has on our SP or not. The team saved our butts last year from a cheap takeover so I'm willing to back the current strategy as they are so much closer to everything than the scant details we have.

Is it painful, yes, but do you really think the SP is shooting up on an MRE being issued tomorrow by GGP as a 30% holder of the asset? Unlikely in this environment sadly, so in short term I agree, save the ammo for now and utilise to make a more effective move strategically once some of the mist clears on the battlefield and you can see where/what you're shooting at.

@CP, I said it was a shame, I wasn't discussing the right or not to do so :-)

And that 'history' you speak of is a part of why we have struggled to retrace the SP, we are still weighed down by it and do need an updated resource estimate to more closely reflect commercial value at a closer point in time than the last MRE.

Circumstances however have complicated this where we now also have a compelling case to downplay the asset in the short term .