Member Info for Dip666

The rerate was never going to be overnight JB, it started after the deal and I'm liking the SP I see of late - the company will need another 6-12 months to build the platform to fully rerate.

The building plans as such were in the proposal we voted through collectively - with a 12-18 month project plan giving us the short term detail.

As I posted a while back:

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Been discussing elsewhere and like E1 said I think it's also important in general to remember that we are a new producer.

Yet to show:

- A years worth of numbers so annual production profile is theoretical

- Yet to release a DFS so Havieron as a low cost Gold Copper mine is theoretical besides a very old PFS

- Yet to prove through updated Telfer resource and reserve updates that there is definitively an extended decade plus LOM with better grade ore

But the next 6-9 months should take care of the above and then we should in theory rerate to a relevant peer type valuation as the evidence mounts up and theory becomes more grounded in fact.

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We need hard numbers and data still - we're a new producer who had a slight hiccup too with last quarterlies.

The good news is that we're talking months not years now to hit some important milestones.

GGP made it, they became a producer and sole owner of both assets and as long as the Telfer and Hav updates are received well, we'll achieve full velocity and start gaining on the leaders.

Still plenty of turns and twists as development of a mine is no small task - the question for all of us is.... do we think that we have:

- the skills and experience in the team we need to deliver strategy?

- the financial means to fund the development of Telfer expansion and HAV SLOS starter mine?

- the operational skills and ability to conduct the above development?

- or should we appoint Freddo as CEO and sack Shaun and the BOD?!

I think those are easy one's to answer personally (especially the last!) - DYOR and IMO.

There was nothing selective about adjusting guidance but an example of good corporate responsibility given the scenario. Not making the adjustment wasn't an option.

While exciting drill assays from telfer will be nice to have soon, what is of real importance is how they affect the R&R estimates and LOM and this will be the true benefit in Q1 and Q2 2026 (CY) rather than any short term excitement over assays. We've moved beyond being a junior and growing importance is on the hard numbers and data.

Both the timing of the adjustment in the 1st quarterly after IPO listing and some market 'antics' turned it into a sharp fall of SP which has since then recovered well. I feel confident that the appropriate level of DD was conducted during the deal but something could always have slipped through such as this.

Short positions are utilised for many different reasons from specific targeting to hedging but there is always something important to remember.

Just as with trading and investing - not every short position is successful in it's objectives - and any institution or individuals opening a short position on a stock doesn't automatically mean there is something negative that will soon become public or some nefarious plan beyond the party hedging or expecting a drop due to their own forecasts and opinions.

Faster is not always better such as

- rushing out 'news' or feasibility and resource reports:

Accuracy and sound analysis are paramount, poorly received Telfer updates and a Hav DFS will be more damaging than rushing them out ASAP

- developing an asset hastily:

Telfer gifting the company with better grades from new zonations during a time when asset prices are enjoying a lot of momentum that are cheaper and quicker to access from an existing mine might well allow a more measured and optimised approach with Havieron Development - i.e longer term profitability and a more robust and ESG orientated operation, given the growing importance of ESG compliance for instance.

Things moving forward need to be done PROPERLY - not QUICKLY in order to have 'news' - we're not some AIM junior now.

WE HAVE A WORLD CLASS LEADERSHIP TEAM RUNNING GGP - TRUST THEM TO KNOW THEIR JOB.

I think it would be worthwhile for some here to spend some time reading up on hedging and shorting etc. and understand that stocks can also be shorted as part of an overarching strategy than specific targeting for a unknown party to take over or ruin a company specifically.

You need as an investor to step back at times and look at the overall industry, macro and wider picture than get so inward looking that you assign everything to your chosen stock being at the centre of everything.

@Sagemen - I think you speak some good sense about diversification on the markets - BUT I believe in diversification on AND off markets- having a diverse portfolio on the markets is also just 'one egg in the basket' still. Mind you - getting to a point you can diversify means taking big risks for many. I certainly had too.Most IFA's aren't going to make you wealthy from not being so - the better ones will help you maintain and deliver moderate growth. Like any industry - there are good and bad, talented and listless performers.

The way I see GGP is as a 'play'. It might not be long long term for me - but it was for myself something I was happy to throw a significant amount of my stock market portfolio at in early 2020. This was the result of looking at late 2019 to target a specific sector but one I was unfamiliar so I started researching with fervour while following loads of juniors and decided just before xmas period to go for GGP vs having decided to spread amongst 3 inc. GGP which had become my final 3 that survived my culling process.

NOW- had I stuck to my original plan to sell post Maiden MRE as my research suggested - it would have been a great 'play'. I didn't for various reasons and have had to wait till 2025 to see us come back to form. This is turning into a rare occasion of where a bagger play MIGHT be a decent long term play - but I'm not going to lose any sleep either if I end up slicing heavily or selling if that's what makes sense in 2026. Just as I've been happy to stop playing on the markets for years at a time choosing instead to make money elsewhere.

GGP IMO is a decent bagger play unless it proves otherwise - which will take another decade and the RISK of holding it. I'll decide at stages based on assessing performance after letting the GDX and Hav DFS also factor in to see where the short term known catalysts take us. Some great people in this community with technical and Geo knowledge I respect but doesn't mean they've made the money I and others have on markets or otherwise - so when it comes to investment decisions - I own my decisions good or bad.

You are giving some good advice where it comes to diversifying on the stock market - I assume you also have other vehicles for your money besides cash and stocks? BUT trying tomake your argument on a chat board dedicated to:

- a single stock

- with a declining but still emotional AIM retail following as the big boys move in

- where not everyone here has yet built a financial base where they have something to diversify on and off markets

- many still need to take large risks to get 'there' and perhaps don't have great careers etc. to fund more moderate, risk averse routes

- and others have already built a solid base of wealth, so can take what might seem to someone in your field as stupid risks

Your message won't get through here - it's simply the wrong audience mate, and IMO you're only covering part of the puzzle :-)

Afternoon Ben - and here's me thinking he was Victor TYMERstien - amazing how obsessed some of these guys get, no way he was an English teacher whatever he was teaching :-)

Not sure what you think you read @Victor... Bamps posted some thoughts, E1 asked for clarification regarding something and a response was given.

The market is going to be watching closely to understand how these next set of results tarry up given the amended guidance and to also understand future production in near term given the still widely held perception of Telfer being near EOL and of course - with Havieron DFS yet to be published - there are still questions around timelines, development costs, funding and future production to be answered as new owners.

It's still a very critical period for the company right now despite the cash coming in , investors new and old had been given certain expectations for the first 12-18 months of the company's move into becoming a developer/producer and future success of the company requires any doubts being laid to rest alongside quantifiable success in hitting stated goals and objectives whether they be financial or organisational.

You pair do recall that the tortoise wins in the story by crossing the finish line first?

Both companies are not racing in the same race - I'm sure an articulate self claimed engineer and poet could remember this old classic?

WSBN/GEO type position are early discovery plays with the assumed margin of success slightly better using the nearology hope that something is considered more likely where other ore bodies have already been discovered and of course Telfer nearby providing the ability to go into production far more likely or indeed a sale to GGP.

Still - these positions are extremely high risk - but if they find something Hav scale then yes - amazing returns - else surely best to trade the swings and hopefully don't get caught out.

GGP has gone through the Orphan Period and now rerating as a producer which doesn't happen overnight BUT hasn't been that slow either if one can drag their brains away from 38p ATH during discovery hype. The starting point was where the deal was secured - like it or not for GGP MK2. I still consider it medium risk as it's the mining sector and a smaller portfolio currently to depend on for revenue - but a different proposition and still plenty of growth organically built in.

The SP of both will be dependent on sentiment of course - but the probability of losing it all is far far more likely with the exploration plays.

These aren't comparable investments - they are different investments altogether.

I guess you're the sailing expert with those moobs giving you all that natural buoyancy - despite the dense nature of your brain matter lol

LOL - Calm down Freddo - I think we both know what you mean by telling me to get 'back on my boat' :-)

As SaS says - some of prefer to go in large after a discovery, granted we are fortunate enough to have the funds to pursue this type of strategy. And a 10% gain tax free would suit me fine too given that many people don't even earn what that would be annually.

Best of luck as I said... sounds like you can buy a lot more bedsheets and fire torches from you latest trades to continue in your hateful ways my confederate friend...

Freddo - genuinely good luck to anyone at both WSBN and GEO - any Hav scale discovery emerging that appears to be economically feasible will entice me very much to buy in as I did here with a large chunk of shares and I'll also ensure I don't average up - which saved my butt here considering the crazy journey we have been on.

Imagine it- I can share lots of new boring and veeeery long posts and get loads of recs (which my ego really needs) and lots and lots of 'translation' for you my dear BFF.

Plus of course the added benefit if I decide to stay invested in GGP long term of potential ore feeds for Telfer - so a mutually beneficial outcome for both shareholders.

Albeit not a pressing concern for GGP any more if Telfer/Hav expectations stay true to expectations... so there won't be any kind of hold on GGP by juniors regionally - the cards will be in GGP's hands.

AND we will have so much fun again on a new board - at your expense of course :-))

So good luck Freddo!

Seems like some of the 'youngsters' to the UFO party in the last influx of new investors such as Helx2 are now starting to sound like the 'old boys' wanting more comms etc. while previously criticising such posts...

Try some horlicks with that dose of irony 'kid' - apparently it helps relax you :-))

Sry guy - I meant that for SaS - all of us seem to be confusing each other lol :-))

I should add as was typing hastily (while watching a really poor horror film) IF the time is required -strongly consider that quality over speed of release with any feasibility studies and resource/reserve updates is paramount moving forward - but to stress within the forecasted windows such as Q4 for DFS.

Since the deal - I'm neither married to the idea of waiting for the old ATH or Havieron to be in production to be absolute goals for me. It is what it is - my Back to the Future inspired time travel prototype made out of egg cartons and sellotape just like they did in Blue Peter back in the day just won't work... so Plan B it is :-)

No I don't agree SaS - I'm talking about the release window IN Q4 not a release beyond Q4.

Better to release late in Q4 than earlier to ensure as much time as possible has been dedicated to it to polish it up as much as possible - a month or two won't make a difference but that DFS needs to be as p[perfect as it can be after the guidance adjustment.

Personally I may not even be invested to the point I am now or even fully exited before Havieron comes online if I see better opportunities elsewhere or macro shifts against the sector.

.. personal opinion.

Hi guy,

It's a bit of an odd one really IMO as the DFS has been announced for Q4 so I think only if it's delayed would an announcement be required as I do feel it might still be considered a material price sensitive matter due to the fact that Havieron was used as a key investment incentive to attract funding for the deal and the ASX IPO perhaps. Therefore any delay in any key stage is a material update IMO in this instance.

But if everything goes to schedule for Q4 and certainly no reason it shouldn't - then less clear cut if the specific date requires a market release. NCM did choose to do so for the PFS on the ASX but every scenario varies when there isn't a specific rule in relation to feasibility dates being pre announced and more so general guidance around price sensitive decisions.

So for the latter scenario it's probably not mandatory but down to preference. Personally I would prefer as much time taken on it as needed than any haste to release early in Q4, same goes for Telfer updates as feel it's the resource and reserve updates that will have most impact than drill results might have now.

Unless we do see AIM and ASX retail get excited by drill results, the institutions perhaps less likely to do so and waiting for the analysis of the drill data into resource updates..

I hadn't really considered this before until the post and just an interesting one to mull over. As for the PR opinion, just a per

I think that whether GGP need to release an official market release due to market regs might outweigh it being a PR driven decision.I'd argue that as the company still has a lot to prove over the next 6-9 months it has a very strong need for PR though, especially after the guidance adjustment in the last results.

Specifying when the DFS will be published is down to whether this IMO might be considered price sensitive, the fact that GGP only has one revenue generagting asset and that Hav is the next major asset outside any Telfer expansion does make Hav very very significant.

Shaun has indicated that the DFS is due in Q4 so if there were to be a delay into 2026 - this might certainly have to be announced?

Whether a specific release date is required is probably more to do with a consideration against the individual regs across AIM/ASX and harder to call but I think that Newcrest did announce a date for the Hav PFS and obviously were a far larger organisation, however Havieron was then considered absolutely critical to ensure Telfer's survival in the short term.

For anyone wondering about Kriging and Damien Stephens prez such as newbies - links below:

***Notes from Damien Stephens Havieron Discovery MEGWA Presentation - 24 July 2022***

- Interview: https://youtu.be/PY4oqgKC7eM

This is a fascinating presentation and a lot of information in here about what GGP/NCM now understand and might need to do to find another Havieron, tidied up a YouTube transcript export but also added screenshots of the presentation slides for each section so content can be better understood by reading through in conjunction with slides.

- Download link for slides and transcript below:

https://www.mediafire.com/file/i0kw6iuceq4pyra/Notes_from_Damien_Stephens_Havieron_Discovery_MEGWA_Presentation_-_24_July_2022.pdf/file

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***The GGP MRE, Kriging, Unfolding and some Bampology!***

https://www.ggpchat.co.uk/viewtopic.php?t=127

• Generic info on Kriging

- https://www.kriging.com/whatiskriging.html

• 15 min video that covers Kriging ‘The Kriging Model : Data Science Concepts’:

- https://www.youtube.com/watch?v=J-IB4_QL7Oc

• Information on application of unfolding in ore body estimation:

https://www.researchgate.net/publication/314034572_Incorporation_of_geological_information_on_unfolding_and_restoration_of_veins_for_ore_body_evaluation

Direct link to the paper (Page 208 in the PDF):

https://www.e-sga.org/fileadmin/PDF/Conference_proceedings/Golden/SGA_2025_Golden_Volume1.pdf

Well this will be interesting when it comes to the DFS E1 :-)

Below are some of the earliest instances of the nickel being discussed by Shaun after your sharing intel of it's presence to the community was as below:

***Proactive Forum Q&A - Nov 11 2021***

*Can Shaun confirm the presence of other metals such as Nickel?

- One of the interesting things about Hav is that it does contain nickel, in some of the areas the value of the nickel is greater than the copper.

- Will be spending a little more time on to understand the nickel elements in Hav, again there is such a huge amount of value in the gold and copper there that it hasn’t been a focus for us, but clearly you want to understand the full value there.

- Certainly, interesting from a geological perspective.

- Additionally Bromus and Panorama both have base metal prospectivity and nickel could potentially end up being one of the key targets there for us. Plan to look into these in the next 12 months.

https://www.ggpchat.co.uk/viewtopic.php?t=79

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***Notes from LSE Webinar - 21 July 2022***

* Okay back to the back to the base metals Dip says could you talk about nickel please

- yeah look that's you know we think there's additional opportunity for these minerals there

- we assay for it it's not part of what we release

* Do you find it though I think it's what they're asking?

- yeah well I think there's finding it and there's finding it in commercial volumes so that's something that we keep I think as a GGP team we we've got a little bit of focus on

- so yeah I think potentially with that accelerated learning curve that we've had through this process it does position us where we can you know think through that and see if we can't knit that together

- our preference if we were going to comment on that publicly would again would be to do it with Newcrest but if we feel we need to provide an update I think again this is an opportunity where we think of things first with ….a equally with the joint venture hat on and around our obligation to our shareholders

- and we have an obligation under the market to release material information, we have an obligation to keep it informed so you know that's something that we try to understand but we also have confidentiality agreements which are you know undertakings in the JVA

- so there's a balance there's a negotiated path that that we try to apply but you know watch that space, it's certainly something that our geological team spends time energy and effort trying to understand

https://www.ggpchat.co.uk/viewtopic.php?p=1879&hilit=nickel#p1879