Member Info for Dip666

A TG member just posted and said he was the only shareholder present at the GM and over 98% voted in acceptance :-)

Just need to wait for an RNS to confirm of course :-))

@tiiggerman - Check slides 22 & 23 onwards in presentation below, these encapsulate the strategy for the organisation if everything gets voted through tomorrow:

- https://greatlandgold.com/wp-content/uploads/2024/09/Transformational-Acquisition-of-Havieron-Telfer-Investor-Presentation.pdf

Https://www.youtube.com/watch?v=qUVpwgwsEp8&t=3943s

Should just have created on GGPChat in first place as odd formatting on here :-)

Link to the info. below:

https://www.ggpchat.co.uk/viewtopic.php?t=969

Notes and links for informal and formal Town Hall held with Shaun Day on 24th September:

- https://www.ggpchat.co.uk/viewtopic.php?t=964

- https://www.ggpchat.co.uk/viewtopic.php?t=965

Acquisition related Presentation Slides

- https://greatlandgold.com/wp-content/uploads/2024/09/Transformational-Acquisition-of-Havieron-Telfer-Investor-Presentation.pdf

AIM Admission Doc

- https://greatlandgold.com/wp-content/uploads/2024/09/AIM-Admission-Document-10-Sep-2024.pdf

- Definitions page 552

- Glossary of technical terms on page 560

*Some useful sections*

CONTENTS LIST ON PAGE 14

PART 1: LETTER FROM THE NON-EXECUTIVE CHAIRMAN........................................... 19

- Kind of an exec summary

PART 2: SUMMARY OF THE TERMS OF THE ACQUISITION.......................................... 40

- Acquisition Conditions page 41

- Deferred Consideration payments and Newmont lock In page 45

- Newmont Relationship Agreement - page 46

- Wyloo Call Options page 47

PART 3: INFORMATION ON THE ASSETS, MARKET AND JURISDICTION.................... 49

- Havieron Capital cost estimate page 59

- Havieron Optimisation opportunities page 61

- Havieron funding details page 63

- Telfer initial mine plan page 70

- Potential opportunities to extend the Telfer mine life page 74

- Telfer Exploration Targets: unclassified mineralisation page 75

- Other assets to be acquired as part of the Target Assets page 79

- Other assets held by the existing Group Page 84

PART 5: THE PLACING AND THE RETAIL OFFER............................................................ 105

PART 6: RISK FACTORS ....................................................................................................... 126

PART 7: COMPETENT PERSON’S REPORT ON HAVIERON & TELFER ........................ 158

- Prepared by SRK, exec summary from page 178

- Valuation and Market Summary page 186

- Technical value assumption after Oct 1st page 188

NOTICE OF GENERAL MEETING ........................................................................................ 546

- Info. on resolutions and explanatory notes

-Generic info on Shareholder rights and resolutions at https://www.ggpchat.co.uk/viewtopic.php?t=961

ADDITIONAL INFORMATION ON TELFER EXPLORATION TARGETS ............................. 562

I'm assuming testing both trains perhaps as part of the compliancy for ensuring the facilities overall at Telfer are working fully now that production has recommenced?

It's a link time stamped for Proactive's YouTube channel OB, nothing dodgy about it unless you are querying the validity of the comms.

I don't understand why some are stressing over October 1st SP volatility unless you're trading short term to take advantage from the various scenarios that might result :-)

This investment has just had a massive amount of the risk wiped off with the way the deal was structured and a highly probable path for non-dilutive production at Havieron - which frankly may have caused us dilution in future to some extent .

We'll never know now, the way forward is what we have now unless Dr. Strange is going to pop up so we can travel the multiverse and explore the various outcomes that we'll never know now ;-)

I think the returns are more assured now as investors albeit whether we'd stuck to a JV or not I do think that the level of SP growth with the Discovery Hype won't be repeated in terms of timeframe. That was IMO due to a massive discovery being proven up at light speed with NCM drilling the hell out of it, stock and sector market bubble with the money printers working overtime - just a crazy combo of once in a lifetime events - but perhaps we'll luck out again, hard to predict.

Unfortunately for those of us who sat through the Orphan period, we're now seeing new investors come in to share the rewards at a level we had thought long passed us by BUT that was the risk we took by holding through it for whatever reasons we had such as expecting another discovery or GGP being immune to the Orphan Period.

If you're investing for a longer term to enjoy a rerate as a producer from Telfer and then Havieron, who cares what happens on Tuesday next week in regards to short term SP volatility? The more important events are surely the EGM outcome (likely for all resolutions to be passed IMO) and then becoming owners of the assets which should result in a higher SP from whatever we end up closing upon next Tuesday in the months ahead.

Focus on the end goal for yourselves - any SP volatility on 1st will come and go soon enough :-))

We need to stop leaning on the forecast of a conclusion of JV deal by end of month, just not realistic when there are so many 3rd parties and stakeholders involved for any company IMO.

It is probably likely it will be missed now but that doesn't mean there won't be a deal, or of course the opposite. No major for instance is going to be bothered about what forecasts Alien has shared in investor slides or emails... they'll work to their own schedule.

GGP is a good example of where a price was agreed for Havieron and Telfer assets with Newmont but the tailings dam issues at Telfer meant the deal couldn't be announced for a further 6 months, probably due to cornerstone investors and banks wanting some assurances and progress in repairs. Not sure what the delay is here or if there will be a deal signed of course, but just shows that these negotiations can get complicated.

Although not discussed, the slide in background shows that moz govt. have tried offering replacement licenses which are being evaluated but will probably be turned down.

Pathfinder Claim discussed 14 mins 25 secs in:

https://youtu.be/j5uoxP0iHAw?t=861

Someone triggered me thinking about the strategy and timing for an ASX listing on TG and I am deffo thinking if Shaun wants to do ASX listing within 6 months he might be thinking of doing so with a Resource update for Telfer to show potential for extension of mine life to accompany it... hopefully helps capture interest etc.

Had been thinking he'd wait for June as per latest investor prez to use a Telfer Reserve update as planned for mid-year as that can be fed into a mine plan to further extend mine life and show no gap before Havieron comes online - but perhaps he also thinks ASX listing could be accompanied by the first quarter of production revenue to further inform both AIM and ASX markets of revenue potential and aid ASX listing success as a catalyst.

Thank you to all for the thanks etc. for notes (have quickly updated earlier today too) and also thanks to The Doors for his notes, and Bamps glad your guys got back in time for last train, was also rushing to catch mine when we met briefly at Monument again and thanks to you and Magic for helping us all get heads around the geo/engineering stuff!

Also, great seeing everyone I had the chance to catch up with in the pub and during the evening :-))

Hi Barna - TBF I totally understand why LTH with higher averages are upset at the way new investors can now enter at a massive discount to their average. It doesn't feel great for you I am suer and many others and the hope is that the cake that has been sliced into more wedges will become much much bigger with these assets to in time offer a larger reward.

Worth remembering that very likely if teh deal hadn't also included a provisional non-dilutive pathway to bringing Havieron to production we were probably going to be diluted somewhat anyhow along the way despite FCF or take longer to develop Havieron perhaps - what he has done is cut out a HUGE amount of risk to compensate for this in theory - time will tell of course. The reality seems to be a longer timeframe than I wished too TBH but it is what it is now.

Big lesson learnt I feel for all of us about holding a discovery through a junior all the way through the Orphan period.. I posted in another TG group where folk unhappy on progress that sitting through the orphan period for a mining project involving an AIM junior as the company you are invested in is very unwise as we see now.Reality is you get diluted heavily as par for course both for funds while navigating the financial and technical hurdles of getting into production and probably for securing the pathway too.

Visualise the Value vertical axis in Lassonde Curve as Market Cap and not the Share Price which is defined by dividing shares in issue by MCap, sure the Mcap goes up higher on the second wave but if you've held all the way through then in most probability there will be many more shares issued to help get into production so in essence you now need a much higher market cap than you needed during Discovery Phase to have the same profit.

However, this has been thrown askew as the deal involves Telfer and all the other Paterson interests too so the Cake has much much more intrinsic value and should increase much more once being baked in the oven in size. The question is will the market recognise this and we rerate accordingly - likely however it will take longer than for instance those of us who could have sold in 2022/21 on huge profits - again, just the reality to be accepted but looking forward much risk has been removed and the upside is far more potential for growth and revenue.

As CP well knows NEM have agreement to not sell for 12 months, orderly market agreement for another 12 and Wyloo have first call options too as detailed in Aim admission doc in detail also lowering risk of shares being dumped on market.

He also stresses Newmont's strategy with having held a stake in Evolution as a great example of their very responsible and partner minded approach in these scenarios.

Some VERY rough notes form tonights TH completed whilst on train on way back home:

https://www.ggpchat.co.uk/viewtopic.php?t=964

Hi Barna, the resequencing of Havieron makes sense to me with Telfer ownership and unexpected extension if life allowing for a more optimised production output etc as detailed.

Also if I manage to make it there tomorrow without trains being cancelled or something urgent popping up, will be looking to see him articulate the accretive formula used and reasons for structuring deal this way in more detail. My other questions more so around strategy to understand if they can provide the kind of growth I feel required from personal perspective.

Personally, am not ruling out a raise on ASX until we see prospectus and details as no one has been able to predict either former or current funding plan with any accuracy, so will keep open minded.

Hi Nap - Liams having to deal with some tech issues with some web plug-ins that are playing up in mobile view that need to be working to ensure compliancy with geo restrictions , I think I know what is causing it so passed on some info. and hopefully he can fix soon and get back up ;-)

@Howezap - I am fairly certain that not all conditions for the sale to be concluded can be waived by the buyer but the admission doc doesn't specify which ones exactly from memory.

The remediation works etc. may also be required by a stakeholder such as banks or Wyloo and looking through the list so may be one of those that can't be waived perhaps.

I think it makes sense generally for most if not all to be met before the transaction is concluded from what is listed in the admission doc IMO :-)

GDXJ rebalancing today I think :-)

LOL Freddo - I like it you little gremlin you :-)

And CP - certainly the level of discount for the raise and number of shares issues did surprise most of us here but I recall some of us sugegsting a raise of some nature was likely and I was happy to hold through the financing being a lower average holder with a longer term exit or slice plan once Havieron in production.

Whatever Shaun says, I'm still fairly certain that part of the teams strategy was to raise II proportion of Shareholders and inclusion onto register looking to develop a longer term relationship with them - The Age of Retail ends on 1st October, time for the Big Boys to move in and run things their way, we best just accept it or move on.

Now obviously my original Havieron related 'event' has been pushed back but with Telfer thrown into forefront with what seems like a new lease of life as I'm very confident that mine life will be extended beyond 15 months. But as explained - whilst allowing for more optimised production by building a stockpile for Havieron ensuring more steady state production throughput etc. and perhaps other advantages.

In summary IMO- the deal structure is more longer term ROI for many LTH but Havieron perhaps massively derisked if non dilutive pathway delivered in full. We'll see future raises I'm sure for inorganic and organic growth but ideally with quicker payback for us I would hope. We're going to have to do some inorganic growth outside Paterson with operating assets I feel to really replicate NSR growth, but will depend on real-life FCF vs forecasts and also what is needed to cover development and debt repayments etc.

Time will tell, I have my own personal targets I've set for Shaun and co. for next 12-18 months to assess if they can deliver long-term. No excuses to not deliver growth and as divi's are a few years off, that's what they need to deliver to entice investment.