Member Info for Dip666

*You touched on it earlier, but just away from Hav - you see some good prospectivity on these 100% owned projects?
- It continues to be the case, you look at the exploration success we continue to have at Hav, it’s just absolutely sensational, the last drill results coming out, with 22 intercepts including one at 120m at 10g plus 0.66 copper
- There’s Telfer to the east of us, Winu to the north - we’re in Elephant Country
- The structures are typically through the North West, the Scallywag tenement sits to the NW of Hav, together with our Juri JV beyond that, we think that’s incredibly interesting ground
- We want to continue to invest in that, the best thing we can do to continue to add value to our shareholders is find another Hav, even another half Hav would be of a tremendous benefit
- Equally, some of the targets we have outside the Paterson are exciting to us, hope to be drilling on Ernest Giles next year subject to agreement with First Nations
- But equally I mentioned before we have some interesting opportunities for Gold and Nickel across Bromus and up in Panorama and again it’s about walking forward the whole portfolio
- I’ll mention Tasmania just for good order, flagged that we are going to talk to other people about coming in, but they’re still good quality assets, be open to co-investing with people on them, particularly Firetower that has existing gold ounces identified there
- Really good exploration portfolio that the team has put together, creates a huge amount of option value for our shareholders that we should want to unlock.

*So, there’s plenty planned here Shaun across the portfolio, one of the big jobs to getting some real value in the shares and getting it off the 12-month lows?
- Well correct and this is the other part of it, that some of the feedback that we had was that the low cash balance was creating a bit of a drag on the stock price because some people saw us as trading you know, come raising (didn’t understand this bit).
- Fundamentally you do need money to run drill programs to keep good people in the team
- This gives us a cash balance that removes that overhang off the stock price, and allows us to create drill information and optionality for value enhancement not just across Hav but across the broader portfolio
- That’s really the idea of this raising, to continue to chase value not just at Hav but across that fuller portfolio.

***END

*I see Shaun, you’ve taken advantage of what you’d argue is an attractive SP to become a shareholder yourself now?
- A number of the team did, really we didn’t feel that until the PFS was out in the market that the management team could trade given that we had insights beyond what the rest of the market had
- Whenever we go out and do an equity raise, we’re encouraging our shareholders and potential new investors to invest
- Wasn’t just me, a number of the senior management, more than half our management team participated, hopefully that gives people confidence around the way we see it internally, it’s good to be invested.

***CONTINUED

*Was there not an opportunity to do this raise before, when the SP (share price) was stronger?
- Always interesting as to the timing of these events, it’s multi factorial around the timing of these events
- When I joined, there wasn’t the necessary resolutions in place so we had a General Meeting in late May that effectively allowed us to raise equity
- Around that time and for some months, had the various drafts/iterations around the PFS (Pre-Feasibility Study) on Hav, felt it was important to have a clear market, to have that information in the market to ensure that when we went to market that Shareholders had a good understanding of where everything was set
- This was the first opportunity post the PFS, we spent about 2 or 3 weeks marketing and explaining the PFS to the market and took 1 or 2 weeks to get everything in line for the equity raise and talk to some Institutions ahead of time to get their early commitments and get the confidence to launch
- We raised a measured amount, we like to think Hav is a really special world class asset and like to think that gives us an opportunity for a rerate in the market
- Didn’t go out to raise the largest amount we could, just a measured amount to maintain the programs and option values in the exploration program.
- Upsized a little bit to give all our shareholders opportunity to participate, fundamentally we felt we were quite measured both in terms of the timing, felt it was the first opportunity we had and didn’t try to knock the lights out in terms of quantum, really just wanted to get the equity raise to achieve those strategic aims that we had around continuing to invest in our asset base.

*So, are these the first institutions on the Greatland register now?
- Effectively yes, but we’ve got some ETF type funds like the Van Eck’s of this world that have been holders previously.
- What we’re able to do here is bring on more than a dozen funds onto the market, half a dozen of those we like to think are top tier, long owning insto’s that we’re going to have a long relationship with that ultimately, as we go through the phases of fully developing Hav will be there for the journey to support us through that.
- Letting them onto the register and having the stability of institutional holdings on our share register are all really positive steps in the maturity of the company and the share register and sets us up for long-term success.
- We think the strategic aims of that raising in terms of diversifying the share register was a great success.

***CONTINUED

Presentation: https://www.youtube.com/watch?v=lMH_XPc2DzE&list=WL&index=1
Link to share and download these notes: https://gofile.io/d/fOcQkP

*Talk us through firstly, how the raise was structured?
- Hopefully people understand, we’ve been talking around bringing more institutions into the share register
- Had an opportunity around engagement from the last half of this year to bring a few in
- By the time the bid was launched, we had commitments around that institutional money
- Originally were looking to raise around $10m but wanted to give an opportunity to retail holders to participate, so opened up to Primary Bid, also had retail focused SI Capital join in and some other retail brokers contacted us and put in bids
- Did try to honour some of that money and hopefully people appreciate that we extended out to Primary Bid and some of these other processes and channels to the market
- Know we can’t reach everyone but we did try to create different channels to many of our existing shareholders as possible
- Also worth mentioning, there was no exclusivity with Primary Bid, were able to take retail offers from other primary brokers as well.

*From my understanding, there were suggestions that GGP were fully funded for the foreseeable future, so was that not the case?
- For Havieron, people are right to understand we have the funding in place, have that US Dollar $50m facility, $20m is drawn, $30m is available for us, continues to be the case
- Having said that, one of the consistent narratives we’ve had has been to continue to invest in the drill bit and look to continue to drive exploration
- In that respect, we don’t want to be diverting funds from Hav (Havieron) into that broader field exploration campaign and indeed to some extent we have some restrictions around that money, it’s really meant for Hav
- This gives us a cash balance that allows us to pursue those exploration campaigns, to continue to look for another Hav in the Paterson, to get into Ernest Giles and also put some time and energy into those Panorama and Bromus projects
- Worthwhile reminding people we had a cash balance of $4m prior to this raise, it was a reasonably measured amount of funding
- Currently finalising a budget for our Calendar Year 2022 exploration campaign and want to ensure we have sufficient funds to execute that
- And if there’s a potential on top of this to expedite aspects of Hav and Hav exploration with NCM, don’t want to be holding them back, want the opportunity to participate and say “Yes, let’s accelerate things, let’s put the foot down, let’s treat the Eastern Breccia as a separate area and dedicate drill rigs.”
- Want to be a good JV (joint venture) partner on Hav.

***CONTINUED

I'm going through the interview at the mo and this is what he said in regards to Andrew asking if these were the first insto's on the register:
- Effectively yes, but we’ve got some ETF type funds like the Van Eck’s of this world that have been holders previously.
- What we’re able to do here is bring on more than a dozen funds onto the market, half a dozen of those we like to think are top tier, long owning insto’s that we’re going to have a long relationship with that ultimately, as we go through the phases of fully developing Hav will be there for the journey to support us through that.
- Letting them onto the register and having the stability of institutional holdings on our share register are all really positive steps in the maturity of the company and the share register and sets us up for long-term success.
- We think the strategic aims of that raising in terms of diversifying the share register was a great success.

I've been lucky enough top be in from the beginning of that journey with Dev, but not sold a single share as IMO we're very very much at the beginning of Dev's journey :-))

That is a probability that should definitely be considered Academy - great post.
Watch this space indeed Shaun!
Let's hope he has a positive reason akin to Academy's theory, SD appears to be a very sharp cookie, he will realise if he hasn't then his honeymoon period is effectively over - but I'm prepared to withhold judgement and see how things play out for now.
The long-term investment case and potential in Havieron and perhaps our other tenements hasn't changed :-))

RiskReepReward is back again.....
It appears that rumours of your demise underneath a pallet of Prosecco at the Canary 'Wharfe'(as you spell it) Tesco express were greatly exaggerated :-)

Hi guys,

I've made notes of the Q&A section (after the presentation) from Shaun's presentation yesterday at the Proactive Forum, link below to download the notes.

https://gofile.io/d/G3DQEh

Presentation: https://youtu.be/Va0_MPZh9Sg?t=1236

Slides: https://www.proactiveinvestors.co.uk/upload/SponsorFile/File/2021_11/1636671945_2110-GGP-Growth-Update---Final-short.pdf

https://hotcopper.com.au/threads/ann-paterson-central-exploration-update.6417575/?source=email

It's also being streamed on YouTUbe so you can scroll back and watch again even while it is streaming.
https://www.youtube.com/watch?v=Va0_MPZh9Sg&list=WL&index=7

The update to the MRE potentially being in early 2022 was first picked up in the Growth Update presentation on slide 23 guys (BUILDING A MULTI-ASSET COMPANY OF SIGNIFICANT SCALE)

https://greatlandgold.com/wp-content/uploads/2021/10/GGP-Growth-Update-Final.pdf

1Q 22: Updated Mineral Resource
CY 22: Feasibility Study
CY 23-24: Commercial Production

Projects should be prioritised and resource/budget assigned accordingly dependent on priority, I suspect that is what Bill tries to communicate when he says they are working on everything and makes sense as you can hit complications or delays at the best of times - but of course Oz projects seem the best way forward currently, followed by some attention on Mexico to get at least early exploration going akin to Munni Munni next year.
Shares issued are fairly high but GGP will eventually have 4.2bn issued and I think the likes of RMM had 10bn or something before they consolidated lately - so not unique. But of course it should be factored in when making comparisons to Fenix or past history as Arian when the number of shares was more akin to Fenix (again from memory after very little sleep as a big MMA/boxing fan and was a hell of a night/early morning for big US based fights this weekend).
I'd really like to see us in production or a JV with plenty of progress by mid 2023 for the iron ore and with some exciting sets of results and perhaps an initial MRE for EH and hopefully we're getting some work conducted in Mexico by then. Really don't think we need to be purchasing anything else at the minute unless it is something very very spectacular - time to focus on becoming the very very rare example of an explorer transforming into a real company IMO with the opportunities in hand.
Won't be overnight and still plenty of work and hurdles so 2022 will still require patience and diligence in keeping an eye on things closely as PI's. You can't claim that there is high gain potential if something is totally derisked, that would be misleading - but I do feel there is a fantastic balance of risk vs potential here now and certainly will be if the EH results are stellar :-))

BB - driving while dead is definitely a condition you need to declare to the DVLA as potentially unsafe mate :-)) LOL

Wolfy - any serious investor isn't listening to most of the SP and SLV/iron ore predictions on LSE boards and are working off their own analysis of forecasts by more informed experts/analysts - plenty of information out there. Personally, I pay attention to facts and try and work out if fundamentals are strong or not, I do think UFO are now in a position they have a very potential route to monetisation in the next 18 months if they proceed along that route without a JV etc , EH and Munni Munni are way off yet, so at the moment I'll be more focused on their results over 2022.
Explorers often retrace 50% plus a few times even with good progress so SP tracking isn't my motivator as I don't trade the swings - I look at the potential for a pay off either through a route to production or potential sale of an economically viable asset.
Max /Nap etc. aren't savant's who's been able to call the SP or SLV etc. correctly (no offence to them) - much like Stevomining and a few others on the other end of the scale have been able to provide any 'critical' analysis worth listening too. That guy seriously needs to remove 'mining' from his profile name lol It is a public board and everyone can put forward assumptions and forecasts as long as they follow the board rules.
I was hoping a placing would come after EH results as very unlikely a scoping study is going to help fund or close an off-take deal or JV, it is a high level precursor to a PFS that shows if a project has potential and can then lead to the work required for a PFS and then DFS and decision to mine. However the placing seems to have been eagerly snapped up and raised more than anticipated which is a bullish sign - I feel it was probably arranged for some of those purchasers in place beforehand - call me cynical lol
Hopefully when sentiment does return to the sector and PM's then UFO will be seen as one of the better stocks to invest in, along with other potential catalysts such as JV'e etc. in 2022 but nothing is guaranteed, I just 'think' we'll see a return to miners and PM's and have a more conservative but profitable forecast in mind for iron ore by the time we 'potentially' go to production around early to mid 2023, any sooner will be an unexpected bonus IMO.

Got to agree, after the next set of EH results and hopefully above 1p would have been better timed and not hit sentiment as much as this will. Placing's are a part of investing in AIM and also explorers though.
They do keep on picking less optimal prices and timings for these though, but so do most AIM companies I guess. As long as the EH results are taken well, we should be fine and agree the description of the activity to be financed was so brief when we have had so much positive progress they could have detailed in there.

The Q&A Audio Extracts Sections has been loaded into Investor Meet for the 12th October Webinar now, log in, go to My Meetings tab, then the My Archived tab, choose View Meeting for the GGP 12 Oct and then select the Q&A tab :-)

https://www.investormeetcompany.com/investor/meeting/ggp-investor-update

Alien through it's own staff, consultants, availability of contractors and equipment will have no issue in being able to complete both the processes to proceed to being able to mine and then operate a standalone operation akin to Fenix Resources if that is the route that is taken and plenty of potential for a JV too on their iron ore tenements growing as exploration proceeds to deliver such positive results into 2022. We also have a lot of exciting potential with E.Hill/ Munni Munni and potential for Silver price to see positive growth in 2022.
Alien are operating in W.Australia mining country with various operations nearby meaning plenty of infrastructure. We'll soon get to a point with our iron ore assets where a route to monetisation is very much assured and will be hard to criticise much the same as GGP has with Havieron with a MRE and PFS in place and also a timeline for production as we have - more than most explorers will ever have.
But it will take patience and resistance to volatility as with all explorers, as the recent price action shows it is very hard to predict short term volatility and oh that's it, here we go to 10p etc. Just ignore the ramping and deramping and focus on the facts, it is why I try and post summaries to important things such as the scoping study presentation, so people pay more attention to that side of things to help make more informed decisions that just be ruled by the SP :-)

https://youtu.be/0T1WnIP_0w0?t=472

https://www.youtube.com/watch?v=bxB9_LRyWik
Pro mining investor David Erfle provides his commentary on the gold price and junior gold stock sector. David Erfle is a self-taught mining sector investor. He stumbled upon the mining space in 2003 as he was looking to invest into a growing sector of the market. After researching the gains made from the 2001 bottom in the tiny gold and silver complex, he became fascinated with this niche market. So much so that in 2005 he decided to sell his home and invest the entire proceeds from the sale into junior mining companies. When his account had tripled by September, 2007, he decided to quit his job as the Telecommunications Equipment Buyer at UCLA and make investing in this sector his full-time job. David founded the Junior Miner Junky subscription-based newsletter in April, 2017 and writes a weekly column for precious metals news service Kitco.com, whose website attracts nearly a million visits every day.