Member Info for Dip666

Knew I'd make you respond despite your end message Culpepper :-))

But a Kung Fu Panda quote was unexpected indeed lol

@culpepper - fed up of his constant rudeness to me over an extended period - I've been more than patient over the last 2 years with him.

Study the past if you would define the future ? Confucius

Freddie - wasn't aware I'd been discussing shorting with you today ... or indeed ever?
Personally, I couldn't give a monkeys what your opinion is of me or anyone else, we're all in the same boat but always one who has to huff and puff and cry like a little (fill blank).
You've spent the last 2 years talking down your own investment - think about that the next time you're chewing on your crayons lol

*... when you think about it.... ?

@Freddie2 - TBF you're actually one of the biggest fans of GGP hewne you think about it.... ?

You saw buying shares in the 30's as good value, I'm sure you had great reasons which you're just about to articulate to everyone in your next post?

Let's not start a panic about Feasibility Study!!!

Still due for Calendar Year Q4 THIS YEAR with Shaun having signposted November being more likely for delivery.

Q2 in Australian Financial Year ( FY) is Q4 Calendar Year (CY) and these CY and FY terms are used in NCM reporting interchangeably causing confusion and their FY runs AHEAD of CY.

Australian FY Quarters
2023 Q1 = 01/07/22 to 30/09/22, Q3 CY
2023 Q2 = 01/10/22 to 31/12/22, Q4 CY

No probs TT - it's a pain in ass - wish they'd stick to using one or the other as always causes confusion :-)

As Sandgrounded suggests, Shaun will be focused on Havieron as also involved at the forum and Shaun isn't going to 'stick it' to Sandeep if he wants to maintain a good relationship over the decades we might be mining Havieron together, do you realise how difficult they could make life for GGP as the majority partner?
What about the JURI JV too if we hit and Shaun has signposted considering pulling Scallywag into the Hav JV for better terms if we hit there. Makes sense to build not burn bridges with them as our own fortunes currently very much tied in to theirs.

Havieron is our only near term revenue producing asset and now Shaun has the framework and funding in place to proceed it will be up to our own team and those high profile appointments to get the market excited in GGP's potential and help push our market cap back up. They'll all be well rewarded in comparison to most shareholders - o I for one will be expecting the hard work and importantly results to reflect this.

Q2 in Australian Financial Year is Q4 Calendar Year.

Aus FY Quarters
Q1 - 01 Jul to 30 Sept
Q2 - 01 Oct to 31 Dec

Well, I also disagree in addition to reasons already stated that were POG to make a real move over the next few weeks then we might (I stress MIGHT)experience better sentiment that generates more interest helping to have a better impact on potential SP catalysts such as DFS/DTM.
Not worth arguing over as a difference of opinion though, have a lovely Sunday :-)

@Culpepper - I'd say the POG trend over weeks, months and years has an effect in that it will have been shaping assumptions in the DFS which of course is defining how economically viable the Havieron project is and also in terms of general investor sentiment towards GGP and peers, watching POG or the SP daily holds no interest for me either - but important?
Yes of course - as it's the micro movements that form the overall trends and if some want to watch closely, what harm does it do? Not sure why someone posting about the POG works you up so much? We all have different approaches towards investment... live and let live as long as no one is being rude etc. :-)

@Culpepper - the only details we have to work with are in the latest transcripts/notes from the Sunday Roast Podcast and LSE Webinar this week and they also include links to the RNS's around the latest developments around funding, appointments and options and a smaller less detailed Proactive interview.

About as much any of us are privy too :-)

https://www.ggpchat.co.uk/viewforum.php?f=54

I agree Tymers - none of us know for sure but the point of these boards is to debate and speculate on such topics and I think I just made some compelling arguments for a <$48m valuation by NCM against stated facts in RNS's etc.?
Fell free to counter as I am always willing to listen and change my mind if presented with a strong counter argument, I don't have an ego that way - not bothered about being proved right or 'winning'.

@Tymers - what do you think Newcrest were offering for the 5% out of interest? It definitely wasn't $60m and by process of elimination it was at least 20% less based on what we know about the option exercise terms.

So less than $48m and given the commentary from Shaun i suspect much much lower utilising the PFS as it's foundation vs the GGP MRE which helped us push our submission to $60m DESPITE some unknown but considered very conservative metrics by Shaun around areas such as price decks. So when you consider this quandary - keep the above in mind IMO.

Had we had the option exercise determined at say $20m or so our SP would have tanked and NCM would have taken the 5% up confirming to the less involved market that was out true FMV.

We'd still have been stuck with requiring debt equity and dilution on a perceived lower FMV despite the binary nature of aforesaid process whereby the independent party didn't build FMV on their own metrics but picked out of two submissions in a very locked up process that favoured Newcrest's objective.

We may well have been fending off a low bid by Newcrest in the near future had the above come to fruition IMO.
The real question is if in a few years time we'll evaluate if losing 5% for an amount that wouldn't have covered the NCM loan anyway VS retaining 5%, taking on Wyloo and the 3 appointments was a better scenario.

For sure we need to see Wyloo and the 3 appointments prove their worth over the next few years and deliver. I certainly won't be playing hero worship with Shaun and co, I expect to see results moving forward and serious growth over the next few years.

Time Will Tell.

Tymers - it is a cross NOT dual listing being planned.

https://www.ggpchat.co.uk/viewtopic.php?t=434

Whoops so it is Ace - I utilise Forrester Market intel sometimes so kinda stuck in my head and very very hectic day so rushed out the posts:-)

Hey Aurora - hope you're well bud :-)

And I concur - the system in place seems automated in 5 reports will remove the offending post.

Also in case it isn't clear - Shaun was suggesting that the Wyloo investment was off the back of him having enticed such quality additions to the board reading the notes - obviously there will be some familiarity and recognition of their combined talents by Andrew Forrester and his team.
Most of us want GGP to attempt to be the next Northern Star - well this is the route we need to pursue vs passive revenue from Havieron and exploration of tenements at a sedate pace.
!00% owned tenements that prove prospective and that we want to self develop will take a lot of time, a lot of funds and a lot of expertise.
IMO we'll need to pursue some inorganic growth to assist with the transformation into a powerhouse too over the next few years, the key skill sets in the new board members are focused around operations, strategy, M&A and finance (access to and management of).
Also Wyloo should provide us with the opportunity to join in on some of their potential ventures of various kinds and vice versa moving forward, there will be more involvement here I feel.
Now...perhaps Wyloo make a move in the future if Shaun and co screw up and we become vulnerable in some way and Newcrest tries their hand in which case... will 2 opposing parties bidding for us prove beneficial?
I reckon it might, hoping we never get there of course - but rather 2 behemoths vying for us than just one with no obstacles to surmount :-)

What I just posted is what was said in regards to the practicality and reasoning for dilution and whether to expect more prior to production and the new board members should be adding access to capital and new opportunities to GGP as part of their remit.

Plenty on how the deal is structured too in the notes, really is worth reading through and making some notes to aid your own understanding on any of these points for anyone confused and then up to you whether you believe the MD of GGP or not and make the relevant investment decision. Only Freddie2 has had mind control exerted on him by the Lixzard people, I am sure the rest of us are able to make our own decisions :-)

I'm really busy at mo else I'd have created some highlights to categorise and break things down a bit along each area - will try my best tomorrow or over weekend if I can find the time :-)

https://www.ggpchat.co.uk/viewtopic.php?t=510
Notes from LSE Webinar regarding Havieron funding and new Board appointments - 12 Sept 2022

- A grade talent, A grade talents make the most of the opportunities that we have so look I think to
get people of this calibre who frankly I don't think would have joined the board had we not said we
are willing to do something a bit different we want to incentivise you
- now I know them and that opened the door but also I wanted to say look the proposition I’m
putting to you is actually I don't want you to sit there on my board and you know as important as all
those roles are in terms of you know reviewing disclosures and that I actually want you to be
incentivised to be creating value
- I want you to be using your rolodexes to help us access capital and opportunities and already you
know this Wyloo investment at least in part is a reflection of that board
- so I think already that that has been a tremendously good investment for Greatland
* It's already been good value you think?
- very much so and it might be worth paying we did not pay any fees on the Wyloo investment we
didn't pay any fees on the bank debt which we self-arranged, that in itself you know has saved the
company you know a huge amount that stays in our treasury

* Okay another dilution question from Craig M, he says g'day Shaun so I suspect he's from your
part of the world thanks for all the team's hard work getting to this stage my question is do you
see any more dilution for shareholders before we reach production at Havieron?
- well that's the beauty of this you know I’ve got to be a little bit measured about saying we're fully
funded because until we've all got a copy of the feasibility study, I have to be a little bit cautious in
that language but I do think we have a tremendous liquidity buffer that gives me confidence thinking
that there's a pathway to that
- but on the basis we're fully funded and we're ballpark kind of 18 months away from first
production, this is what this combination of debt and equity is designed to do is to say no
- that is sufficient you know, no more dilution this is sufficient funding to take us through to
production and that is our intent.

https://www.ggpchat.co.uk/viewtopic.php?t=510
Notes from LSE Webinar regarding Havieron funding and new Board appointments - 12 Sept 2022

* okay to less happy news, dilution share dilution, now not everyone is happy that that people have been granted options at 45% that's above the placement 45% above the placement price of 8.2 pence, I personally bought my shares at an average around 20p so if you do the maths I do hope that I do hope they drive the share price well above 12 pence, what do you say to that?
- look let me answer this in two parts look you know Greatland you know had about four billion shares on issue and when I joined I think we had about four million dollars in the bank and an outstanding funding horizon which was unknown and unfunded
- the so that we have issued some equity over the a series of equity raisings and then bought in some incentive plans but really if you contrast the position that we're in today I think from an Australian dollar we've raised around 400 million dollars in about the last three weeks
- now that is a sea change a transformational event in terms of being able to articulate that we're now funded and we've done it for less than 20% dilution
- so I think when you compare from where we started, this outcome is incredibly good value for money if I talk to the to the equity plan for the incoming directors, look again I think you know if you look at it in terms of the percentage that they're participating in the company it's I don't think it's unreasonable but more importantly more importantly these people do not participate in the value creation today, they don't participate until we've increased the value of about 56 or 46 percent
- well that is a big number and I appreciate that people have come in at different levels over the journey but fundamentally we have to deal with the share price that that that it is today
- and for them not you know it has to go up 46% for them to break even, they don't make a penny on that they then get a lick of the ice cream so to speak for value beyond that
- now I’m just delighted to have that level of alignment because that is alignment focused on one relentless objective which is to create shareholder value to increase the share price and I’m a shareholder as well both through investing and through the staff participation plan and what do I think will increase the value of my stock

CONTD....