Member Info for Dip666

Thx MrECM2

Appreciate the feedback and anything further from yourself or anyone else who was present able to give a summary on the responses from the Alien team in attendance at the AGM in relation to the topics raised :-)

@Justone - PC has shown a great deal of weaknesses as a CEO, the poor progress (not in your opinion of course) won't lead to a substantial rerate now, unless we see traders jumping in I suspect to benefit from an announcement.

I'm certainly not the only one who might now have a much shorter timeframe in mind moving forward rather than looking at this company as a long term prospect - main factors being for myself:

- He didn't apply the basics in adapting the team to commercialise the opportunities in the portfolio especially once a mining lease was granted, new phase in the company requires adapting and retooling to meet and achieve new challenges and objectives

- This displayed itself in poor PM in some regards with previous negotiations

- His attitude to comms and general shareholder engagement is awful and less than engaging presentations/interviews when he does, it might be best to have someone else play this part

- The TOLSA deal was through a third party organising it showing yet again the benefit his ill suited team would gain from being enhanced with relevant skills and abilities, the cost as such would be outweighed by progress in commercialising the projects as this will have been if they proceed

- It seems his initial scoping of the opportunity for the CS project was very basic having to commission marketing research after failing to make inroads on a deal to better understand the industry (another example of one of his weak areas)

- Will there be further dilution on a deal with CS Project too wil make many wait to see a deal before committing to a position if indeed SRES is even on their radar

When I look at the various challenges and lack of progress, a lot of it points back to the poor team and PC particularly IMO.

Https://youtu.be/RRbK8ApYW4A?t=140

And additionally...

An ASX listing might be VERY useful for certain options and according to our current roadmap... mid 2025 is when the team will be focusing more on evaluating long term accretive regional opportunities....

#OnOurTimescale

It's a matter of defining priorities and ROI right now for us - just like Newmont is - GGP need to prove the ROI to shareholders and the market. Show the deal was indeed 'transformational' and right now what probably really needs to be prioritised is show the market what the actual numbers are now we're owners to prove we will we be able to pay the bills and develop Havieron in a potentially non-dilutive manner, alongside extending the LOM for Telfer and confirmation in a DFS of the financial viability of Havieron.

Antipa is a more mid to long term priority than a pressing need for GGP to close a deal with any haste - this can be played out at leisure for now - GGP's that is...

Antipa will need to run their own gauntlet to try and commercialise their projects and and if not open to a more congenial partnership minded approach in near-term where a mutually beneficial deal can be hammered out?

Well GGP has the bigger artillery and is now a power player in the region and can wait for reality to sink in.

Be interesting to look at the details for any Newmont agreements to see how locked in they are to funding further exploration or not as Paterson not a focus area for them now.

No rush, let things play out a bit and let them keep spending as it's better to pay slightly more for more proven up projects in terms of ROI and agree with Bamps. An RNS saying large find doesn't add commercial value.

They're just trying to play their best hand, HotCooper board was an interesting read as their retail base seem as blissfully unaware of any risks as we were in early days thinking we had NCM over a barrel etc. :-)

@Freddo - I agree mate- it's very hard on the peepers staring at all these... satellite images for growth and infill drilling McCririck :-))

@Ace - I'd fit right in. certainly one or two who've enjoyed paid for lodgings and food at her majesty's pleasure previously in the fam lol

@HH - I'd rather not know and become an accomplice lol

@Ace - compassion isn't weak you moody old git - I'm a very caring and sharing type by nature I'll have you know, rember you have to be strong to be kind and all that :-)

I accompany CP on his AA meetings, helped Tymers fill in the forms to get prescribed Methadone given his usual typing* skills and drive Freddo to Gamblers Anonymous every weekend after dragging him away from the Bookies.

*Funny how Tymers typing has improved of late and he's posts more like when he used to pump UKOG...

Sry - not the best touch typist when typing quickly - I mean The ORPHAN Period of Lassonde Curve.

@HH - sorry busy afternoon but enjoying the debate :-)

My approach is favoured by likes of Willem Middlekoop and some other established mining investors where you minimise the risk somewhat by getting in after a discovery but of course you pay more for your shares. However, I feel comfortable picking up a large holding at this specific risk/reward point - alongside other criteria I use to evaluate management and finances. I also then avoid averaging up so have my 'insurance' if the SP doesn't grow substantially into a maiden MRE, which I feel is the time to exit, both from actual investments made and other projects watched. Those who hold on invariably fall into the trap of The Orpham Period (cue dramatic music!)

With the Lassonde Curve, for others perhaps interested in the conversation as I knows HH knows it well - it is a per project model during a discovery to production phase so yes - EH would be along the curve in some respects near the 2nd wave up. But as a closed mine perhaps you can see the reopening as the development phase in some regards where you could see funding and technical hurdles so you could apply findings from Lobo Tiggre's PPSS Reports***, which I've also looked closely at to define key trends for application in my playbook as such.

With the Lassonde Curve it's also important I feel for folk to remember that the Value axis isn't SP - its mCap so as you move through the process if you've been diluted in real terms - your ROI declines and a higher SP required than if you had exited at the peak of the Discovery Phase.

HC though shows the risk of sitting through the Orphan Period and will be interesting to see how the deal comes through and result on ROI for folk with higher averages and the timeframes they'll need. I feel fairly insulated despite my concerns in a puppet BOD now in place and motives of certain major shareholders etc. A risk I am ready to ride but I don't envisage quite the ROI I did 2 years ago.

***PPSS key findings and research:

https://www.ggpchat.co.uk/viewtopic.php?p=4786#p4786

Fair enough HH - some had a very long timeline in mind and as you recall I was also questioning the likes of max on their idea of production timelines at HC - ridiculously some were talking about production in 2021 back in 2020 and still acting like experts :-)

I'm a fairly low average holder but more than a few here are 1p or over I suspect.

As for holding these stocks for years... you don't need to IMO...

You can come in after a discovery hole, exit after Maiden MRE and return for a pre production rearte after DFS/DTM or even later after bulk of technical and financial hurdles have passed by.

Sitting there losing money during the Lassonde Orphan Period and getting likely diluted to death to fund a deal or production can severely limit your potential profits.

*They need to prove that there won't be a gap before Hav comes into play during H1.

I didn't know what to expect in a deal and after reviewing it I'd concluded that the next 12 months in two stages loosely delineated by each half of the year is how I should assess the team.

I applaud them for managing a deal, but that is in the past now and they mostly get paid a handsome wage regularly to reward them for their achievements and work for the company - looking forward now they've secured the company, I personally expect to see shareholder value grow sharply in 2025.

Q1 figures will be provided in black and white for the number crunchers to look over and assess followed by quarterly updates.

They need to prove that there won't be a gap before Hav comes into during H1.

We'll see an ASX listing be actioned and hopefully see the team leverage the listing into raising the SP using their local influence and reputations in Oz. I've personally not found compelling evidence that merely listing on ASX will result in a sharp immediate and sustained rise but I need the time to do some really detailed research to explore further.

GDX inclusion will hopefully add value of course.

We'll need to see a well structured and received DFS that excites the market in H2.

Seems like a lot of work to do in 2025 and the team will need to execute each of these milestones and also build a demand for our shares.

It's also just not about headline figures with a 'higher number is better approach' but well structured assumptions and calculations using realistic metrics that pass the muster of very 'sophisticated investors' in some regards who will be judging the company vs it's many soon to be peers on the ASX etc.

The jury will be out and rightly so until there is evidenced success - but it will take most of next year to move through the milestones based on the current roadmap.

But the general feeling in 12 months IMO should be that 'wow 2025 was a great great year for shareholders and I'm even more excited for 2026'.

Over to you Shaun and co. - this is your time to deliver on the Platform For Growth :-)

TBF to maxie boy - anyone holding UFO has to date been consistently wrong in them managing to deliver, he's just not been critical is the main difference :-)

@MrECM2 - hey I expect some extensive notes such as those I write up from GGP town halls if you're attending mate!

Tymers - you seem to be stealing my lines - and I'm not talking about the kind of 'lines' you usually snort... sry I meant like ;-))

LOL Norm - maybe we should ask ChatGPT :-))

That's one for a quiet and long Sunday afternoon or two if time allows as hadn't considered a sale of HC til of late having thought we were looking at other options - but it has been put forward as one of the potential options being considered apparently form what little we know of the current talks.

The difficulty of course is not being a geo and valuation expert which method would be most appropriate and then building the scenarios and ranges and picking appropriately when concluding - but there is guidance on optimal methods on how proven up and/or developed a project is.

For instance, Reserves have far more weight than other lesser categories in a valuation and it gets more theoretical the less JORC data you have (which of course is also subjective) and for non operating assets. It's more complex than pointing a finger in the air for say 5% of proven resources in the scope of assessing HC.

In essence and going from memory there are 3 different valuation categories with different methods for each in a formal valmin valuation, you pick a primary method and a secondary method to also sense test against.

You establish poor, fair and excellent price ranges outlining the scenarios within both valuation methods.

And then pick one of these ranges and justify your conclusions and that range is the negotiation range for both parties to consider.

Understanding this code helps you get a grasp of how true commercial value really does need non operating projects to be as proven up as possible through feasibility studies and resource and reserves but also how you can price up less developed projects or exploration ground but those don't hold that much commercial value.

Some folk may not have the time to wait for SP to hit a level they need now sadly so I do feel sympathy and ASX listing will be actioned in 6 months so not long for the company to be judged.

Not nice for some sat on higher averages either seeing massive buys at these levels which don't translate to large lifts albeit also of a mind this might be GDXJ front running as some are to correct their errors.

The best reply for Shaun and co to make to detractors is return shareholder value and not raise substantially at a discount on listing. Team needs to time to prove itself and some will be disgruntled until they see what they personally deem as progress.