Member Info for Dip666

The most interesting slide to me is Interesting slide is no. 32 with long term strategy with NCM acquisition into 2050 showing focus on leading Tier 1 portfolio, presence in Oz and Canada as leading jurisdictions and enhanced Copper exposure.

So definitely a push/pull between short term portfolio optimisation and longer term Tier 1 operations in Oz/Canada with Gold/Copper as over the longer term Telfer/Havieron meet these goals whilst the initial starter mine wouldn't fit their Tier 1 preference.

Now that NEM are in charge with full access to data and assets etc. I suspect is when Shaun is able formally request their team to be involved in a Peer Review which would probably take a while if they are happy to do so given they plan their own '3R' review and to assess resources for their annual update in Feb 2024 in accordance to their standards/processes.

You'd assume the Newcrest JVA committee members will no doubt be briefing senior management as part of the Telfer/Havieron review before the next JV meeting with GGP team where they can discuss GGP's plans to release an independent MRE.

Could be tight whether NEM decide to be involved in a peer review or not for release within a month IMO but as WF suggests, something else might occur making it sense to hold fire so as always, best to keep an open mind for now :-)

Their latest Investor presentation just released:

https://www.newmont.com/files/doc_presentations/2023/Nov/06/newmont-investor-presentation-november-2023_final.pdf

Https://www.businesswire.com/news/home/20231106048474/en/

Includes a video message from Tom Palmer.

I should have typed the AGM is on Wednesday 6th December at Noon, not enough caffeine this morning :-)

Link to view the AGM on Wednesday at 12pm, if you register with the platform you can submit questions.

https://presentations.investormeetcompany.com/investor-meet-company/GREATLAND-GOLD-PLC-Annual-General-Meeting-5d7b5cb053734f2632ed6f61?bmid

Looks like the browser you're using is doing a bad job of blocking all the ads so either turn the ad-blocker setting to aggressive as I thin kit works on Brave and if still no joy just use edge, chrome or firefox with an ad-blocker extension installed.

Hi Ace, I embellished a few things for artistic purposes and was referring to the old late 80's movie Dirty Dancing vs suggesting you and Freddo were getting spicy lol

CP - just pulling your leg and I had spotted a few posts re. rapture and astrology etc. on his feed before but personal views aside he seems to have plenty paying attention to his investing related posts. As you say plenty of rich and wealth folk with some less mainstream views in other areas.

Was an Interesting interiew in understanding how investors like him with a wide net and diverse number of stocks analyse and value companies and amazing just himself and a researcher keep up with near 1000 companies in total and then just a web guy seeming to encapsulate his entire team.

This also explains the generalised nature of his analysis using just key indicators and the lack of detailed information on just one stock in his portfolio. Still, he bought into GGP at 6p pre-production so in a way his system seems to work in this instance in a cheap entry and in his case a quick upturn.

goodbye newcrest and helloooo newmont...

more of the same ...or will our new partners actually be 'aligned' or will the other interesting scenarios much discussed present themselves?

will freddo and ace kiss and make up and audition for a reboot of dirty dancing based on a salsa dancing competition for seniors?

will culpepper start a new career as a stand up comedian using material based on don 'woo woo' durrett as inspiration?

will starbright continue his subscription to ************* and funding tim winnifrith's lifestyle?

will aquakidd return from his cruise a new man and sell every material possession he owns and reinvest in ggp with serious fomo becoming the biggest ramper ever known on these boards?

will tymers finally share his mystical magical calculations for his fabled 88p target based off a p/e of 15 and what his sock puppet tells him every night before bedtime?

will fred dobbs, aimless99, iot and so many others return to tell everyone what fools we continue to be?

tune in next week folks as the many twists and turns continue in this tumultuous journey :-))

Finding another discovery isn't going to be easy work even with the knowledge GGP has built up, there seem to be three parts to lead to success really.

These early results do show you that firstly we have strong signs of the right kind of conditions geophysically being in place on those targets (as previously with Scally and Juri) but the kind of mineralisation we want will be present only if you've also had the correct sequence of events geologically speaking take place too is my basic understanding of these things...

And of course being able to zone in and find something if it is there but I think we've got a pretty decent chance there given the previous success and growing understanding of the region :-)

-4.63m is the amount it has decreased from yesterday guys :-)

JC keeps a summary of increase or decrease in each new post from the previous day's SOL value.

Https://www.ggpchat.co.uk/viewtopic.php?p=4849#p4849

Updating for JC today as he has poor signal where he is :-)

Ortex data collected Tuesday 31st October.

54.15m shares on loan, -4.63m

* The AISC of Havieron, obviously you’re doing the DFS at the minute so without giving too much away what are we talking about in terms of AISC either from the previous study or what you intend to use from this one?

- The study really determines that, all the output of the study is that your AISC as oppose to being an input you really want to build that up as part of the study from first principles so that was $643 per ounce in the PFS

- That’s about 2 years old or thereabouts now so I think we have to recognise that there’s some inflationary pressure on that over the last 2 years, we just talked about the impact of inflation but precisely the same inflation that we’ve seen across the sector

- So, we were lowest quartile producer, one of the bottom 3 lowest cost gold assets in Australia, I would have though our relative position remain very similar

- Although there is some inflationary upward pressure there is also the benefit from moving from 2mtpa to 3mtpa and the economies of scale from that

- So, it’s hard for me to pre-empt the DFS and ultimately that will be the deterministic outcome but we certainly feel confident that there’s no Havieron specific changes that knock us out of that lowest quartile position which is where everyone dreams of being

- And we have a mine that should be in that lowest quartile position which creates especially at today’s gold price… and shareholders should also keep an eye not just on the USD gold price but the AUD gold price which is in excess of $3000 AUD an ounce

- Which is tremendous because you’ve got a high gold price and a low AUD so gold in Australia looks incredibly attractive

- Because our cost structure will be Australian that will drive our margin so for us I think we’re in a tremendous place, we’re looking forward to getting into production and actually translate that competitive advantage into cash flow.

END.

* So, Shaun, just give us a timeline of what we thinks going to happen on Havieron?

- The timelines are largely unchanged, we’ll be getting down to the top of the ore body in calendar 2024, that works out from about June 2024 into that 2nd half and then we should still be on track to set up the stopes and the development levels so that we can achieve first ore in 2025

- Albeit I think people should be very focused on when the DFS is released which will be definitive around that but given where we are, we have some reasonably clear visibility on the opportunity to kind of push through into that basement rock conditions and access the ore body.

* And Havieron itself, do you sort of envisage that it’s going to expand its ounces available within the mine as you move forward?

- Well there’s two elements, I think your phrase there was ‘ounces available’, absolutely we have a 6.5Moz JORC resource presently, we are updating that, we seek to release that in this December quarter

- It will be late in this quarter, I think we previously guided that we do want to have that externally reviewed by an independent and we’re going to share that with our JV partner that I think I can now call NEM

- So, that will take time and we want to be courteous around that but fundamentally we remain focused and on track on seeking to share that with shareholders this year

- We’ve had to do it unilaterally because you know NCM didn’t have the opportunity to update that as they intended

- In terms of the production profile, just to remind people the PFS had a 2mtpa production profile, without being definitive we’re seeking to move that to 3mtpa in the DFS, that’s say a 50% increase

- So, that is certainly exciting and then we’re looking to understand how we can unlock the value of the Easter and Northern breccia’s in more bulk or larger scale mining operations

- So there is lots to do and with a 15 plus year mine life already on that SE Crescent there is a lot of opportunity to unlock value as we move into the ore body.

contd..

* Overall, when do you perceive after the aquifer is sorted out that you will hit the top of the ore body?

- Would like to see what the flow rates are before we’re definitive about this but kind of given that guidance around the feasibility study (DFS) at the end of the September quarter which will allow us to understand that, allow us to have probably have driven through that area so we can bring that data all into the DFS

- So without being definitive I think that is how I think about it and certainly that will give us enough time to finish the raise bores in parallel with doing the dewatering and really they are the remaining risks

- You’re then into the basement rock which is really competent, dry material so we think this is the last really significant derisking event so what we’re going through now

- This is normally what you do with any mine aquifers and the flow of water generation in Australia under cover is virtually universal.

*What is the greatest… what is the largest risk that could cause the whole thing not to happen or is it just a case of something has to be rectified?

- This is where having the great global major as a partner is, there risk management processes we think are first rate, we like to think we would have the same but there’s no question NCM and now NEM approach these things in a tremendous way

- And we wholeheartedly agree with last week’s decision at the JV meeting at which both groups agreed upon this course of action

- To stand off at a safe distance, to do the depressurisation and to do the dewatering again is text book is what we did with the two previous aquifers and what we’ll do at the LCA

- So we’re really comfortable, what you want to avoid is tapping into a unknown aquifer under pressure and that is a risk so what we’ve done is say look the decline’s almost progressing too quickly

- We haven’t had time to fully dewater it, let’s just pause, focus on the ventilation structures and then we can then drive into that area when we’ve got it suitable derisked

- This is best practice, worse thing you could do is have a uncontrolled ingress of water into the mine, this effectively guarantees that doesn’t happen, it’s good risk management, it’s good mine planning, it’s good management.

contd...

Seems clear enough that they are just managing the LCA by depressurising and pumping out some water as it had more than expected and in meantime getting on with ventilation related activities as was agreed with the partner to ensure safety.

https://www.ggpchat.co.uk/viewtopic.php?t=828

***Excerpts***

* More detail on the update on Havieron and news on the decline development?

- Really BAU and people will understand to get to the bottom of the ore body we go through 3 aquifers

- Already gone through the upper and lower aquifer, now at the lower aquifer and pattern of dealing with the aquifer is exactly the same

- To put into context aquifers are not open bodies of water, just areas where the rocks are more porous so you have some water generation or some water flow and the reason we call it a contained aquifer (Lower Contained Aquifer, LCA) is this is not linked to the ocean, not an endless stream of water

- It’s a body of water, it’s a contained volume and effectively at some stage runs out

- What we did as we go through each of them, we first put in the depressurisation holes so think of this as if you drill into a pipe in the wall, the water will initially be under pressure and come out really fast

- That would be dangerous if you had a human standing next to it, so you stand off it, drill into it and depressurise those holes then you’ll dewater and also put in greater diameter holes where you can put little pumps down and then you’ll pump out the water

- As we’ve done with the upper and middle aquifer the upper still flows, we still do that pumping, have pumps to keep up with it and keep the mine dry and the middle aquifer was a really small body and that’s really modest now

- This will be the same, you put in enough pumps to keep up to make sure you can manage that water and then you can mine through it in a dry sense

- What we’ve done is repurpose some of the teams to do the ventilation raise bores, that’s a really important aspect of getting the mine plan into place

- So, really we’ve re-sequenced things, we’re probably pushed back a little bit of time here and that’s just a risk management and honestly that’s just say a quarter, that’s just a speed bump in the way we’ve gone about this expedited development of Havieron.

contd..

@redtrader, shaun's said the strategy for ggp is to retain focus in australia where the team are based and to look for larger deposits such as havieron that seem more likely in paterson and ernest giles etc. - hence the divestment of taz assets to ***** gold who are well placed both in terms of locality and experience to explore in taz, while maintaining an interest in the outcomes through the agreed terms.

Doesn't look like GDXJ as they'd gone up since the 19th by about 1m shares but recently decreased by just under 200,000 but all in all nothing major in any of those numbers.

Shares On Loan have decreased markedly too since 19th so some shorts exiting seems to be at least partially a factor so either new or existing II's or major holders increasing too perhaps IMO.

Something up with their system but that should have read:

F-l-y-n-n Gold boosts critical minerals potential at Firetower

https://www.youtube.com/watch?v=ozuobwcbkku

F-l-y-n-n Gold CEO Neil Marston tells Proactive the company has confirmed the significant potential for gold and the critical minerals cobalt, tungsten and copper at its 100%-owned Firetower Project in Tasmania in ongoing review and targeting work. The work, incorporating desktop studies and re-logging and re-sampling of historical diamond drill core, has confirmed coherent zones of high-grade polymetallic gold, cobalt, tungsten and copper mineralisation at the project.

https://www.youtube.com/watch?v=ozuobwcbkku

***** gold ltd (asx:fg1) ceo neil marston tells proactive the company has confirmed the significant potential for gold and the critical minerals cobalt, tungsten and copper at its 100%-owned firetower project in tasmania in ongoing review and targeting work. the work, incorporating desktop studies and re-logging and re-sampling of historical diamond drill core, has confirmed coherent zones of high-grade polymetallic gold, cobalt, tungsten and copper mineralisation at the project.