Member Info for Dip666

Definitely Red - I sense he has misjudged things and perhaps a reflection of his 'commanding' style.
He answers to his shareholders and at the present moment they seem to want him to justify further M&A - that may well be a hell of a boon for us..........

@zoros - Sandeep is certainly not the man of the hour:
- a bully looking for redemption,
- major shareholders disgruntled at lack of dividends
- slide in profits due to a huge growth strategy sucking up funds
- and a SP decline to boot.......
TBF I see his strategy for growth and low cost tier 1 mines paying off long term - but when you have SH's looking for dividends in the short term and some peers paying up far more than you - then it is quite the tightrope to walk.
Has he leant too far to one side of this equation?
Will he be able to pull back enough?
Tune in next week to find out.......!

Fair enough JB - I deffo wouldn't send you into any peace talks mate lol
Look bud - we're all annoyed and tense and even I found myself 'declaring war' yesterday :-)
But hot heads never win fights - cool calm and collected is the way to be and Shaun has that in spades.
If we want to try and retain an opportunity to remain production partners then Shaun needs to try and gauge NCM's intentions and be certain that they are playing dirty and looking for a takeover before he declares war.
We might well cause NCM to attempt one that way when they might just be posturing for a cheaper 5% or otherwise.
It's a chess game not a sword fight - brains not brawn:-)

@JB - did I not just make that point in my post - read it properly.
You need to learn some self control - here is a technique for you.
READ - REFLECT - REACT

@JB - Hydro requested for us all to post our holdings and average and collated in a spreadsheet 2 years ago so it wasn't an official share register mate.
Also horrendously out of date by now of course :-)

I've been hoping the Pretium deal would create a scenario where Sandeep really needs a FS in hand to try and justify an offer for Havieron to give us some breathing space and let the value grow as the growth program, POG etc. work in our favour. Also, their BOD have other issues too across the portfolio.
Certainly appears that shareholders want to see their own ROI in terms of dividends sooner rather than later which certainly makes his task that much harder justifying further M&A and his personal profile too has taken a hit, again, you would have thought releasing an MRE for Havieron would aid justifying the project overheads and future ROI to shareholders.
Corporate responsibility requires flagging of the declines ground conditions but you can see the different approach taken by Shaun vs Sandeep in doing so.
Inciting your partners and allies to turn on you when you yourself are under attack would certainly not be my strategy were I Newcrest..........interesting times ahead :-))

A pleasure Bamps and yes - that is indeed what he said :-)
Hopefully everyone takes some time to read the notes over the weekend, breathe deeply and relax and reflect.
We have a clever bunch of guys and gals in place - I have faith in them!

LOL Timber- I was trying to get a cut/paste jobbie in before anyone else's posts broke them up - one of these days........
Download link at top for a PDF version all and remember to keep calm and rational.
Shuan Bond - License to Drill has assembled a pretty s*it hot team on top of the already excellent team we had - call it an A-Team if you will.
We may well be locked in a shed by the bad guys at mo, but we know the team are going to build something amazing up from some old tractor parts and a seated lawnmower, break open the shed and shoot the bad guys up (non-fatal wounds) while they somersault off buildings flapping arms about lol

* Trying to amalgamate 2 similar questions from Timor and Barry, Timor asks what might be the revised date for the decline to hit the top of the ore body since there’s an unexpected difficulty in the rock formation encountered, there are only 100 more metres to go***, might this be achieved by 2022 year end?
***(NOTE: this was incorrect, the 277m specified by NCM for Jan 2022 is length not vertical depth)
- Firstly, we included in our RNS the progress at the decline, it’s moving a little bit quicker right now which is positive, prudently NCM and us talked about the ground conditions being softer than we’d like and somewhat counter-intuitively softer conditions slow you up and harder ‘country rock’ which is when you really get down into the mining is good as it’s held itself up, you can take bigger longer cuts which accelerates your cycle
- Right now we think it’s within budget both in cost and time, what NCM did prudently is flag that the ground conditions are a little bit softer than we’d like so that has slowed it down a little bit but right now there’s a range of things you can do to accelerate that and catch up and indeed against the timeframes originally set
- One of the things we’re doing and progressing with is a change to the route of the decline, still ultimately the same passage but spiralling down a little bit earlier rather than running across more laterally at these higher depths
- So, that’s positive, as with depth the ground conditions will get more and more positive
- Another thing to comment on is that the 277m we announced today is chainage not vertical progress so shouldn’t think we’ve got to get 400m through the Permian therefore 123m away
- That is actually how far it’s advanced and then got to factor in the incline to work out your vertical depth and also we started from a Box Cut which gave us some launch pad in terms of depth as well
- So we’re not 2/3 there, otherwise we’d be very confident that we’d have it finished inside of 2023, there’s still significant chainage links to go.

* Run out of time which is such a shame as some very juicy questions coming in about institutions, shorting, and an early buyout but will just have to leave it on that cliff-hanger.
Thank you for sharing the value drivers and hitting a lot of the questions head on.
- Thx everyone for listening and part of having a big JV partner is that there’s always going to be that speculation in the market, thanks again everyone and bye now.

***End****

* You mentioned building blocks there, Alan asks when the drilling results from Scallywag and other drills outside the main Hav body might be coming?
- I talked about labour being tight in Australia before, equally exploration drill rigs are hard to get and assays are taking 10 plus weeks to turnaround in the lab vs 3-4 weeks a few years ago, so there are delays and we have some frustrated geo’s wanting to get assays quicker
- Typically what you do is prepare a program, drill some holes in, want to then get those results back in, recalibrate your program and then go back and follow up targets with a refined plan
- Those cycle times are really important to running an efficient drilling program, so it’s all a little bit slower, not just for GGP but for all parties, but we do have some more drill results expected out shortly
- And as people may appreciate, up in the Paterson you don’t typically drill through the Dec/Jan periods due to the wet season and the heat so typically we stand down but we’re remobilising rigs for the start of the June Quarter, so April onwards we’ll get more material coming out of there but we’re still getting some of the assays in from the December quarter such are the delays in the assays right now
- We’ve also done so electro-magnetic EM surveys so think there’s some positive information, some of which we’ve already been able to share but more coming as well which we think is great.

contd..

* Because one of the value drivers (in slide image above) was that 5% option that NCM has, a lot of people are interested in the Fair Market Value (FMV) of that 5%. In terms of timelines, you said that the 5% option is running in the background, so when might we hear anything else about it in any significant detail?
- We have a negotiation period that we described to the market previously, that runs towards the end of this month but then at some stage we go into the process where we put forward values and ultimately that goes through an independent process, that can be a more drawn out period but I’d imagine that there’s an opportunity for the JV partners to have discussions at any time
- But I think we feel as Greatland that the best thing that we can do is go through the structural disciplines of understanding our asset from first principles and think that if we can understand value to our own satisfaction
- I think that gives us the strongest platform for engagement with NCM and I think that’s the confidence that people should have that we will approach this from the ground up, from first principles we will understand the geology, we will understand the mine planning and then how that flows into value and by doing that, that process can take a little bit longer
- But I think it’s a really important discipline for us, but ultimately that value is determined by the provisions of the JV agreement, so there are modifications within that and the parameters that we have to work with.

* And in terms of understanding your asset, any indication when we might see an updated MRE for Hav?
- I think today NCM talked about one coming out in a period of time and perhaps implying it might be around the Feasibility Study (FS) in late 2022
- From a GGP POV, I feel you really need to understand the R&R to understand and put into context the 5% valuation, you really as I said want to value these things from first principles and as part of that the R&R are absolute fundamental building blocks from that
- So, from a GGP perspective I think we believe that the parties need to find that R&R in the shorter term and given the quality of drilling and the period of exploration at some 10-12 months that ultimately this is a material update that should ultimately be released to the market, so I think people should be confident that will happen.

Contd..

https://www.mediafire.com/file/arioqq6o2y2aln2/Notes_from_Proactive_Forum_Q%2526A_-_17_Feb_2022.pdf/file

* While presenting slide ‘Catalysts for Future Value’ and discussing No.2 JORC MRE
- He will cover this more in Q&A period but appreciates many of the Shareholders (SH) were surprised a Havieron (Hav) update wasn’t included in the latest Reserve & Resources report, which really became a surprise to them too when they realised NCM wouldn't be including Hav
- Originally the plan was for that to be updated together, which is always GGP’s preference, but we should have confidence in the results (assays / intercepts etc.) that have been reported since the Feb 2021 JORC Resource & Reserve update have been ‘stunning’
- Everyone should have the confidence around where that is headed.

* While presenting slide ‘Catalysts for Future Value’ and discussing No.5 Ownership
- Have the 5% Option running in the background, the JV agreement is rather specific around how you approach that
- Something we’re dealing with and dealing with it is ultimately positive for SH’s.

Q&A:
* Held our breaths when you stated making profits over $1200 USD per Oz and the AISC costs are low.
Thank you for referencing NCM’s investor update because it has been concerning some investors who are a bit worried that no reference to Hav was either forgetful or neglectful and some of the questions in the chat are related to whether relations are OK with NCM, is it all going well?
- Have a good relationship with NCM and that’s built up from the operational teams, think we also have really good connectivity across the exploration teams and into the mining teams at site and with the processing teams as well
- Try to talk regularly to Sandeep, think we have a good relationship there as well so there’s some strengths in the relationships
- Again, you talked on the Resource & Reserves and hopefully we had originally expected NCM to include Hav in the update to be open
- Now, it was a surprise when they first told us it was no longer being included, now admittedly that was ahead of the announcement and we kind of thought given the amount of drilling and the time that elapsed since the last update (think it was 05 Feb 2021), that it potentially did warrant an update because the drillings pretty spectacular, really consistently across Hav.
- So, ultimately people should have confidence that when that Resource & Reserves (R&R) table is updated, it will reflect the strength of those results of the last12 months
- And as part of the relationship we continue to discuss the 5% mechanism and I think having an updated view of the updated R&R is critical to understanding the value of Hav but people should have confidence that we have a team in place now that understands the value and future opportunity of Hav, so we are active as managers of the asset to understand and describe and articulate that value to NCM as part of that process.

Contd.....

If POG keeps rising and money starts returning to the sector........why wouldn't you invest in an explorer/developer?
Even more so if the potential for a buyout is increasing so you get a very quick pay day compared to the journey into production?
Early days yet :-))

Yes I asked about potential JV's in Oz in the Q&A as although very obvious he favours that approach from the presentation deck and actions to date , felt it was a good opportunity for him to reinforce during the webinar :-)
It's a good point to allay concerns for potential new investors, from what I understand many a junior has come unstuck trying to go it alone on too large a project, not relevant for the niche Han**** operation of course as the Scoping Study displays a clear action plan that is being built upon by Lloyd.
10\10 for the presenter Sarah pronouncing my first name correctly too, they mostly just avoid saying it lol

What has set GGP apart from every single investment all of us have ever owned?
Our Community - THIS Community.
Our Collaboration.
Our Shared Expertise.
We should continue to communicate and educate each other and potential new investors on the simple 'facts'.
The same 'facts' that NCM may now be trying to keep out of public view to try and secure 100% of Havieron as inexpensively as possible.
Havieron speaks for itself - it's a unique Tier 1 investment opportunity in a Tier 1 Jurisdiction.
The latest results a fortnight ago uncovered a 'significant' new intersect.
We are still mostly in the dark about whatever potential might exist in the other targets on the mining lease and following the structurals flowing into the other tenements we own.
Let us continue to let the facts speak for themselves.
#IfYouKnowYouKnow

No probs SG - freudian slip perhaps that I spelt 'by' as 'buy' lol

Also full of spelling mistakes - but I'll blame using a phone for that!

Comments made today buyShaun alluded to Stage 1 (Mutual Negotiation) running toward the end of the month and then 'at some point' were his word I believe if nothing agreed this triggering Stages2 (Submit Valuations) and Stage 3 (Arbitration initiated if valuations not within 10% in Stage 2).
But he was stressing he feels the MRE 2 should be in place before the FMV concludes - this is a real bone of contention and hard to call what will happen.

The BOD aren't going to recommend a lowball T/O to us :-)

InvestorMeet hosted GGP AGM - 14 Dec 2021 Excerpts:
*How confident are you that you could defend say a bid at 30 pence from Newcrest?
- Any takeover bid is something that the board would have to consider in terms of value. Benefits of building a team with mining and process skills is that we understand the value of the asset better and better.
- Some processes that they undertake internally, such as updated resource and reserve estimates are another factor in understanding the asset better. Thinks the value of Hav is considerably substantial, you go through your whole career in mining looking for world class ore bodies in tier 1 locations and the fact that we have the additional conflux of sitting by existing infrastructure, a global major operating and being the manager with GGP is further decreasing the risk with rooms full of mining engineers, indigenous engagement, environmental permitting people that they can deploy to this asset have extraordinary low risk, low capex pathway to free cash flow and potentially a multi decade mine.
- Value is extraordinary and over time they will continue to communicate and create that value.

*Can GGP be taken over without Private Investor approval?
- The answer is No.
- Fundamentally, if a takeover bid was received and the BOD thought it warranted being put to shareholders it would ultimately be in the hands of the shareholders. It would obviously have to be a compelling bid, this is a unique ore body with a low-risk pathway to free cash flow.
- Ultimately, it's the shareholders that determine bid outcomes but my gosh I think we’d want to extract a premium for an asset of this quality.

*Alex Borelli closes AGM with thoughts on share price and takeovers
- Analysts report valuations in the market on GGP currently have expectations that the SP should be around the mid 20’s and above.
- If there is a takeover approach, there is a formal process that is adopted, although not subject to shareholder approval, a form of acceptance will go to shareholders from an offeror, but the offeror would seek to have a board recommendation and it is incumbent on us to have a valuation report on the company.
- So we would go through the motions of being totally considered on the value of any offer that was received, but of course we’re not in that position at all at this stage.

All I can say is that if they are, then Shaun and team are going to be worth their weight in gold moving forward to protect our interests.
Merc has a point, if people see a buyout in the works from NCM then we'll probably gain a lot more interest ironically.

Just scroll back even though it's still live.
https://www.youtube.com/watch?v=mAcqSLISMO0