Member Info for Dip666

Not a great update this morning but at least we know both parties are working hard to ensure everything will be in place for due diligence to be achieved... so the emphasis is on doing everything properly to ensure compliance which should lead to a positive outcome for the funding and off-take deal with Anglo.
Also interesting snippets on talks with other potential partners, personally Q2 2023 looking more realistic for Han**** production perhaps, but a few months won't be the end of the world.

Something geo related to keep you excited Bamps :-)

New Targets Identified at Wilki Range, Southwest of Havieron
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02586563-6A1117184?access_token=83ff96335c2d45a094df02a206a39ff4

Paterson Resources - New high-grade gold zone discovered at Grace
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02586571-6A1117189?access_token=83ff96335c2d45a094df02a206a39ff4

Absolutely Panama, truly a balance of both the 'product' which in this case has proven to be just as addictive as any drug in human history and the minds behind it.

And I loved Narcos, a brilliant show and quite the way to make your point lol

I'm sure Shaun Escobar will deliver the goods although let's hope he fares better than Pablo!

LOL - not how I meant it Bamps and I am an avid student of Bampology :-)
I just mean that a bad management team could fail even with Havieron in their posrfolio and a great team could run a less efficient mine and still make a decent profit.
The people matter as much as any product or service and the team Shaun built just saved us from being bought out for peanuts, Shaun just told us at the Town Hall how close we were to that despite our share of Havieron.....
Everything in life is about balance and I'm just making sure I look at everything now, I'm as invested here for Shaun and the team as I am for Havieron as I'm sure they'll use the 30% we own of it to build a multi billion dollar business but we'll get there faster if they do certain things in a certain way IMO :-))

I'm not just a marketeer, that is where my career started in my 20's, I have a deep background in business consultancy including research which assists me with studying and understanding the scientific and engineering aspects and experience of running a company where I was also responsible for the operational aspects.
Geo's rarely make the best CEO's from what I've seen investing in a few of these companies now if they focused on that aspect, they've usually moved into the management side to hone their skills before becoming a CEO, we have a very capable MD who started as a finance guy and now has a great knowledge base about the industry :-)
Anyway it's not up not up to me to tell anyone else how to evaluate GGP or vice versa but I do know that collectively (including me) we focused more so on the geology overriding any potential business challenges GGP might face and ultimately that wasn't the best focus clearly :-))

Absolutely Culpepper and being that business and marketing strategy are my professional areas of expertise I tend to use these skills foremost in shaping my investing strategy. GGP is moving into an arena I am far more conversant with from being just an explorer trying to monetise a discovery... it has now become a business and Shaun himself has built a long term strategy for the company that encompasses many years not just 6 months....
Building longer term expectations and projections running into years is now perfectly reasonable especially if you have the toolset and experience to do so. It's no different than a geo or civil engineer looking at GGP from their perspective around the development of the infrastructure and understanding of the ore body :-)

More so studying everything moving forward is key rather than the option exercise of course mate, suggesting vigilance over paranoia with both NCM and Wyloo, stated many times I expect NCM to behave now with our current developments and that as long as Shaun and team delivers Wyloo will be supportive. If not, I expect them to take GGP under their control in one way or another, too big an opportunity for them.
I am not being passive though, I am building a set of expectations for GGP for the next few years or I will adapt my strategy, this sector will see a lot of consolidation in future I think amongst major and mid tiers and I want to be on the right side of that :-)

Trying to study the reason behind the 5% decision by NCM is really about trying to see if NCM are going to be good partners in future and if we return to becoming and remaining 'structurally aligned'. Many decades of partnership ahead in theory so studying this IS important.
Looking ahead mid and long term is part of assessing any investment you plan a long hold in, we need to see inorganic growth pursued besides Havieron growth and perhaps a decade long journey developing another discovery for a quicker path to being the new Northern Star Resources IMO or it will be a much slower journey and less stratospheric.
I'll need to see certain things play out according to my own expectations moving ahead with the money I have tied up here and extreme cycles this sector experiences... being too passive as I have learnt is dangerous.
Being patient is important, being negligent of maximising opportunities or reducing losses is not and these boards are for discussing and analysing a company rather than waiting to see how things play out with no foresight exercised on how you expect various events to play out... each to their own though :-))

Hi Red... just doesn't make sense on so many fronts from speculative assumptions on full control to long term Return On Investment to the sum being very small for a corporation who have gone on to plan to spend more on the Headwater Gold Farm-In amongst other areas of late. The Hurdle rate of returns focus is clear since Sherry took over as CFO too though - so not clear-cut if that wasn't actually legitimately a factor.
Shaun seemed to think it may have been a potential play to take advantage of current funding difficulty such as with SOLG and then play White Knight but he seemed unsure to me at the Town Hall, just a 'maybe' type theory as he like many of us assumed they were crazy for not taking it up.
But ultimately whatever 'it' was, it allowed us to retain 30% and the strategical addition of those particular directors and Wyloo rather complicates any future attempt to make a play on GGP moving forward and makes us an extremely more capable company in regards to growth and access to capital.
Can't help wondering given the link to Green Hydrogen from both Twiggy and Elisabeth G retaining an NED role at Fortescue as it's Global Green Hydrogen Ambassador if it will play a part at Havieron on top of solar etc. but of course we have less say on those matters than NCM.
Definitely might be a much longer chess game at play here for GGP to be a vehicle for exposure in Australia to the Paterson and other larger scale potential assets we may have in other tenements besides Gold/Copper/Nickel at Havieron from Twiggy/Wyloo.
We'll hopefully make a larger scale discovery that we self develop along a 10 year timeframe but mid-term from 3 years on I do suspect a fairly large inorganic deal to bring in revenue and perhaps we see other smaller scale moves before that - exciting times ahead I feel.

You must be getting old Z and struggling to focus or I'm just full of sh*t - odds of 50/50 I'd say and 100% odds that was Freddie who recc'ed your comment lol

- There seems to be an industry norm (not set out in legislation so can be adjusted) of ownership that JV's being split by 75/25 grant the major partner 'special approval rights', read my footnote marked *** and the url under footnote ** in previous post for details.

- My thoughts are that the option exercise was agreed so we obtained full or partial funding to aid debt funding and in return NCM acquired full control through 75% ownership as majors prefer, so mutually beneficial.

- Having not taken up this option I believe that key strategical and operation decisions will continue to be agreed via a JV committee vs NCM having full control.

- I think the Hav JV will operate as a separate company to simplify all operational and fiscal matters around Havieron.

- NCM's strategy seems set around a 'Telfer Province' hosting Havieron, Telfer and other regional discoveries processed at Telfer, which is now positioned as a regional hub.

- My interpretation of Antipa and Artemis's strategy is they will spend a few years proving up any Paterson discoveries in order to negotiate better deals around JV/divestment irrespective of any official strategy they talk about of setting up their own processing infrastructure.

Hi Z - is your surname Ewing and did you wake up from your dream in the shower or perhaps from a dream where you were LOST on an island after a plane crash that was inhabited by Sandeep The Smoke Monster :-)

I have sent emails and submitted questions around these areas but never had a reply Z but it is something I think about a lot, Liam found a link** below a while back that was useful. it seems to suggest an 'industry norm' so not something set in stone by legislation and can vary of a 75/25 ownership split often providing the major owner full control of all strategical and operational decisions. NCM could decide to suspend operations or make large decisions requiring capital expenditure etc. without requiring approval from GGP in these circumstances.

One of the reasons I was certain that NCM would acquire the 5% was that this was how the option exercise had been agreed as mutually beneficial. GGP would acquire funds to either partially or fully cover development costs for the SLOS starter mine (exact requirements were unknown at time of the deal) and NCM in turn would acquire special approval rights*** giving them overall control. Surely $60m was worth that on top of future long term revenue despite Hurdle Return parameters?

I believe that because they haven't gone ahead the existing or some form of a JV committee will continue to decide these matters by a vote or perhaps some other legal procedure set out in the JVA. I'm also along the lines of thought that the Hav JV will be run as a separate company (after discussions with Rational Assessor in TG) in order to process all operational areas such as contracts, employees, fiscal etc. Just makes sense from my own experience with both companies as joint owners.

As for NCM, seems very clear ~Telfer will be a regional processing hub and Telfer Province will host Havieron etc. as a sub portfolio. I also think from Antipa and Artemis perspectives from my interpretation of interviews/presentations that both are going to spend a few years proving up their Paterson discoveries in order to gain optimal JV's or divestment whatever their 'official' line is such as plans for separate processing infrastructure etc.

**https://www.mayerbrown.com/en/perspectives-events/publications/2020/11/joint-ventures-in-mining
***Special approval rights:
The following actions will require an affirmative vote of holders of at least [75]% of shares in JVco:
Annual operating plans and budgets
Material change in the facilities to be constructed pursuant to the construction plan and budget
Any single unbudgeted capital expenditure exceeding US$[?]million
Voluntary curtailing of production by 25% or more for 30 or more days
Voluntary termination of production other than on exhaustion of mineral resources
Incurrence of debt by JVco/Mineco other than pursuant to an approved financing plan, or for ordinary course working capital needs
Settlement of litigation in excess of US$[?]million

Just quickly, Alistair from Artemis also mentioned drastically improved lab turnarounds of late with a combination of increased capability (such as the new facility from Intertek) and reduced demand due to current sector and fiscal pressures on explorers being factors on his interview with Liam too.
So hopefully assays being submitted of late are down to Shaun's 5 weeks for processing although of course as Paddy outlined, there is the work beforehand to factor in too and the analysis of the results too when back with the company
Have a great weekend all and try not to focus too much on daily SP, we need the official rubber stamps of a DFS and DTM and a firmer ETA on production as a few of us have opined of late perhaps for the proper start of a rerate.
From what I understand the decline is going well and as Dot pointed out Shaun seemed to suggest a good update too, looking forward to an update next Wednesday night :-))

NPS = No Problems, used to use the acronym at an old company with lots of American colleagues - think no one else uses it!

Nps SG, have a lovely weekend :-)

Notes from GGPHelp Interview with Artemis Resources Q3 2022 Update - 21 Oct 2022

Notes:
https://www.ggpchat.co.uk/viewtopic.php?t=584

Interview:
https://youtu.be/oQO3YpEL54M

Notes from GGPHelp Interview with Artemis Resources Q3 2022 Update - 21 Oct 2022

- Liam had an interview with Alistair from our neighbours Artemis so plenty of mentions of Havieron from about 15 mins in and notes are highlighted for GGP related info

https://www.ggpchat.co.uk/viewtopic.php?t=584

https://youtu.be/oQO3YpEL54M

@Loggy - forget about Tymers mystical 88p, they let me loose with their Marketing and PR I'd have us at Mickey's 144p and with zero consolidation LOL

@Ace - I can only state that much like the Tymers Conglomerate... D666 is not one, I'm just the public face... we are MANY!!

As Dot just reminded me on TG... I made a HUGE omission but in my defence, the point below is a given when it comes to GGP :-))
________________________________________________
Great work again Dip. One point to add is Shaun also said….
“In a nutshell Havieron continues to progress and an exploration update out next week which will give a good update on the drilling and the progress at the decline so will be another positive step forward”

Shaun to date has proved to be a careful man who thinks about his signalling…..”….will be another positive step forward…..”

Some quick thoughts on yesterdays interview:
- Reiterated Base metal potential at Havieron
- Confirmed Eastern Breccia was probably a different event to that which created main ore body at Havieron and enhances prospectivity of other events creating mineralised bodies regionally
- Brecciated assays though not mineralised such as on northern border and with our neighbour Artemis are good signs you’re looking in the right place but need to zone in on potential mineralisation epicentres
- Establishing the search range around Havieron and genesis events is still work in progress so can aid in identifying other ‘hot zones’ along structure running into Scallywag and Juri JV areas
- Clear from interviews that part of the GGP USP Shaun is building is ‘under cover’ specialists using latest technology and techniques vs peers
- Ernest Giles is expansive but with potentially highly prospective multiple targets given it’s geology (Archean Greenstones, Yilgarn Craton), geophysics and results from neighbours and very unlikely to be JV’d, will be a multi year campaign with Meadows first
- Part of ranking the projects in the portfolio for interest is linked to infrastructure availability and reiterates that initial geophysics not always an accurate predictor of prospectivity so important to assess all targets to some extent
- Panorama also in the plans for action during next 12 months and likes the Nickel prospectivity
- Bromus is potentially polymettalic with gold, zinc, copper, lead but more so gold and nickel and again some work planned there this financial year if possible (July to June Australian FY)
- Tasmanian assets are of more interest for potential farm-ins, JV’s given their smaller size of scale when considered against Havieron, Ernest Giles etc. with other companies that can focus on those rather than keep them on ice, talks ongoing with potential interested parties
- Exploration is one of the three key pillars of the company strategy and exploration success is the best way to create shareholder value and will remain a strong focus for GGP.
- Patience required as exploration is a multi year campaign and besides the unlocked option value the Paterson provides, Ernest Giles, Brooms and Panorama also provide strong opportunities to bring a second development into the portfolio to create a huge impact on shareholder value.

Pleasure as always :-)