Member Info for Dip666

LOL Panama, can I have some of that happy juice you're drinking please and deffo agree, that team Shaun has built is a world beater :-))

https://sprott.com/media/5822/221027-ggp-scp-drilling.pdf

GGP kept getting compared to SXX and yet managed funding based on a PFS in this climate of all climates for that sector..
Yes we need to relist to tap into the funds and guess what - that creates a desire to do that ASAP.
The delay might just be because of the FCA being their usual useless selves - but should Dev go on record rubbishing them... probably not wise.
Also, growth can be controlled if funds are tight, you just put back launches for new geo's or product areas as examples. The Dev team has added a lot of experience in commercial as well as industry areas to assist with these matters. Any investment is a blind risk as a passive shareholder, you kind of need to grit your teeth and wait this out as frankly - we have no choice until relisted.
India's also probably the best market with China setting the restrictions they have so not a bad market to be focused on, and the global market is going to take years to fully develop not months for any existing or new entrants so no, it won't be 'too late' when Dev relist. I've been using video assisted work training courses for 20 years now, it's taken that long for VR to just start being involved in any meaningful way - the Metaverse is not going to happen overnight, you can't even get decent broadband speeds in smaller villages around my way to this day in the UK :-)

I imagine now that in theory 'strategical alignment' has returned that if the DFS extension was solely NCM's idea they must have proposed the extension to GGP so they could verify if there were any complications that would arise with funding (simple terms are in the 12th Sept RNS). Of course it may well be that GGP suggested the extension, we have a very experienced team and Shaun himself is very experienced in all aspects of funding mine development too.

Freddie - for your own sake don't start falling out with anyone you deem as supporters of 'the top table' of posters. SAB, myself and Bamps all met at the town hall and that odd community feeling many of us have formed was only strengthened by meeting in person and enjoying each others company. In any community you protect each other from anyone hostile and you are often at loggerheads with many of us unfortunately. You should make the effort to meet some here as you seem to have some deep seated suspicions on the motives for the contributions of many here, you would enjoy their company - perhaps even mine lol

Excerpt from a quick google:

One of the key objectives for mineral exploration is to map the most prospective areas for the selected deposit type at a regional scale, subsequently narrowing these down to camp size target areas and finally to individual prospects that can be developed into economic mines.

Rational Assessor has written a great post here on his thoughts on the extension.
https://www.ggpchat.co.uk/viewtopic.php?t=586

Hi Culpepper, most of us are new to the sector and learning the hard way, the very hard way looking at our portfolios! Yes, chat boards tend to be overly optimistic. Logically most of us tend to post on investments we are invested in and pay more attention in terms of how much money we invested :-)

Hi Z, just been discussing in TG that the oddest thing is no one really ever considered a positive reason to delay the DFS, we were constantly treating the possibility as only negative and unlikely. Yet again... had our expectations tumbled about but in a very positive way, I just broke the reasons down for a friend as below:

Key Objectives:
- Optimise costs to combat inflation
- Optimise / increase production profile
- Increase resource & life of mine projections

As someone pointed out yesterday it might have been discussed at the dinner Shaun mentioned he had planned with Sandeep if it has happened.
Decline seems maxed out at 3mtpa from what we were told so is it an alternative or additional method of extraction as well as conversion of results to resource to add to life of mine?
Definitely another unexpected event but more interesting than an issue as a stronger FS will be better for investment attractiveness too. We have the funding so not an issue and add 2 weeks more onto decline progress update they can't be far off 1km now :-)

Let's see what Shaun says in the interview, the text in release is as below about the extension to FS:

Feasibility Study Update

§ Technical work to support the development of the Feasibility Study continued during the quarter. While the study remains in progress, it will be extended beyond the December 2022 quarter to allow further time to maximise value and de-risk the project. A further update will be provided as value enhancing options are assessed

§ The extended study will seek to de-risk the project by capturing the ongoing successful growth drilling campaign and allow potential resource conversion to increase production potential and mine life of Havieron

§ Further optimisation work is underway as part of the Feasibility Study which will contribute to offsetting any potential impact of inflation.

Perhaps Shaun is onboard with a new Plan B sandgrounded which might be about getting more out quicker but that would involve other options than current decline perhaps.
We have funds and access to capital for bigger plans now vs holding NCM back too.
DFS can be delayed as we have had funding concluded vs needing it to be funded.
Those results indicate what many of us though about deeper, bigger footprint, zones linking up etc.
Wait to see what Shaun says tomorrow would be my advice mate :-)

Decline update. - 916 metres complete as at 12 October 2022

Liam is live:

https://www.youtube.com/watch?v=njP7iirlMLA

Mal - Liam is planning, perhaps 09:30 to 10pm, keep an eye out on his channel :-)

https://www.youtube.com/c/GGPHelp

Freddie - I was critiquing the article writer not LithBoy, you seem to think I am walking around thinking I am a genius? Certainly not, I constantly post about gratitude from learning from others and their help. Are you looking at me through an inferiority complex perhaps?

LithBoy - email was a bit abrupt but just bcos I am busy with techie issues, glad info was useful - have a real look through the GGPChat forum, loads of info. ;-)

Freddo, you've been bullying everyone else so why not have some fun back, I mean it's all good fun isn't it... locker room banter like you 'tough guys' like? Everyone including you is gifted in different ways, I've never met a stupid person in my life. Storytelling is how knowledge and wisdom have been passed down through the ages, you should appreciate it more!

$1.2bn coming from the not so fair FMV assigned by an Option Exercise using 12 months old data and strapped down asset price decks - so not an accurate price by any means and he still thinks NCM can purchase 5% today even though the whole thing concluded without them proceeding?
He doesn't seem aware of the positive EGM outcome approving Wyloo and that the funding was contingent on it being passed either. And not mentioning the directors we just added into mix too? Seriously incorrect article even by their low standards
I could go on and on if I spent more than 60 seconds glancing at it - if that is what that guy calls research he must be Freddie2 in disguise. I highly doubt reading it that he is an able judge of DCF calculations either.
DFS out in a few weeks perhaps will be conservative but still show the viability of Havieron, in meantime go and read the independent GGP MRE (link* below to help understand and access it) and also go and look through GGP's own interpretation on the PFS** and potential DFS projections where they use less conservative assumptions.

* https://www.ggpchat.co.uk/viewtopic.php?t=127
** https://greatlandgold.com/wp-content/uploads/2022/03/GGP-Growth-Update-Final.pdf

LOL Ace, short on time today as updated mac to latest operating system and the usual headache when stuff stops working!

Things could have been a lot worse and I think we're all shipshape and ready for when things get better - which they will IMO. We're so close to the DFS now and really looking forward to tonight and of course... an excuse to drink during the week :-))

The sector bottoming out from 2020 has had a huge impact on our SP too. IMO we really need to see capital inflow back into the sector which seems contingent on a Fed pivot so we'll see what they do with rates running into EOY. Fundamentals of even the kind we have aren't enough to protect the SP when capital flows out, bitter lesson to learn but we just have to deal with it.

If not for the independent GGP MRE and the case our team put to the Independent Valuer the 'price discovery event' the Option Exercise created would have resulted in the SP crashing lower had Newcrest's valuation been the winner. On top of that we would have struggled to have closed funding perhaps even with a DFS, we can see peers struggling to gain funding or remain operational for other projects.

Despite the SP, we are fully funded and not in any danger of running out of money, we're no longer easy prey for any hostile parties. Gervaise, Callum and co. did a fantastic job in discovering Havieron, building a great portfolio and JV's with Newcrest. But the terms they agreed to in the Option Exercise display how ill suited they were to take us to mining. The current team have managed to avoid what would have been a disaster for us where we'd be looking at a xMas worrying about lack of funding and a low ball offer materialising.

DYOR but IMO the above is why you pay as much attention to whom is leading the company and their strategy as well as the assets. Latest BB terminals show more insto's , larger PI's holding steady so what we're probably seeing is a large number of PI's with smaller holdings either selling from frustration or becoming financially distressed in these times.

I think even if they have found or do find any new ore at Telfer it's probably a continuation of more lower grade ore, not sure the odds of finding a new high grade pod are that high surely after so long? But even so, enough to keep Telfer up to full capacity... doubtful IMO.
I find it utterly inconceivable that NCM will ignore the ability to add circa 3mtpa to their portfolio as rapidly as they can when you can see them fudging reporting metrics around to present Telfer in a better light. They have been sprinting with anything related to the exploration or development despite anyones thoughts on the contents of resource estimates and the PFS.
They will be keen to get production going surely given the profitability despite lower POG at present from Havieron? NCM have lost their best opportunities to take us over on the cheap, their management team aren't over emotional teenagers else they wouldn't be heading a huge behemoth of a mining corporation. They'll move on and focus on revenue from Havieron and the multitude of other challenges they have running such a huge portfolio.

Luckily the community created a well protected temple with GGPChat for research to be kept safe and sound, all organised and easily accessed and untouched by trolls, all one needs to do is pop out of the tent, walk down the road and pay a visit to read the tomes of knowledge stored there and then pop back to their warm tent :-)
I see Telegram as an Ashram where one can go to meditate and discuss without trolls causing a disturbance and the rules there ensure we are peaceful and respectful to each other.
LSE is a gladiatorial colosseum unfortunately, you can't be sagely here, you need to don the armour and fight as if you dare post anything useful here, you get attacked by the trolls.
Some scraps of wisdom stick around for a few days but mostly swallowed up pretty quickly as you get the threads disrupted by aforesaid trolls. But it doesn't matter - the GGPChat forum has a record of all of the research for anyone interested, they lost the war when it came to being disruptive and did everyone a favour. Easy enough to post links back here that they can do nothing about :-)

Hi sandgrounded, NCM released a market announcement that they were publishing a PFS and then I think a week later they did a seperate release of the PFS instead of around any preplanned key event such as quarterlies so assuming they follow suit on the DFS :-)