Member Info for Dip666

@SB - I think the option exercise outcome was a huge achievement and here's some thoughts on why:

https://www.ggpchat.co.uk/viewtopic.php?t=365

This also proved the ability of the new team replacing that from the GH era in many aspects from being able to

- negotiate a valuation exercise from a position of weakness being tied down by certain prescriptive measures

- create their own MRE staying in alignment with newcrest methodologies and the data cut-off for exercise

- highlighted the breadth of expertise in the team and also ability to bring in outside expertise

- the fact an independent assessor chose GGP valuation over NCM's is a win, the valuations were done in accordance to the Valmin Code so despite the irregularity or uniqueness of having the two partners submit their own using pre-chosen and assumptions - it was a great display of strategical and technical ability full stop, how many other junior explorers would have achieved this?

Notes from LSE WEBINAR & Live Q&A - 21 SEPT 2023

https://www.ggpchat.co.uk/viewtopic.php?t=798

Great post by DOT in TG that MH01 has copied over :-)

* 'What options NEM...' I meant.

And Loftmonkey while no one here has read the JVA personally we've had the option of GGP being able to put in an offer if JV committee doesn't approver FID outlined in interviews when the question was raised much like we've had tolling fee's etc. explained.

@Loftmonkey - you think Oz bodies regulating the approval of this takeover haven't wanted to know what options NCM plan to consider with regards to Oz assets? I think mothballing Hav/Telfer wouldn't have been considered very well.

They're not going to freeze anything IMO, they'll move quickly to divest, buy or continue to develop as their shareholders will want to see synergies and efficiencies being made after the initial induction of the assets and projects into the company and all that entails.

If the JV committee votes against developing Havieron, Shaun has exactly what he wants presented to him as per the terms of the JVA, an opportunity to put an offer in and it could be considered that if Nem consider it as not attractive to proceed that they can hardly argue a high price tag...

I concur with Cp and SB having looked into and debated this a while back in some depth, fully expect shareholder approval to be required for any divestment of our share of Havieron according to regs.

Hi Matty, I wasn't able to make it so not my highlight as such as too short notice for me to attend but we had plenty of kind folk giving us live updates during the evening via TG :-)

I should stress I assume those are his personal opinions on what Newmont might do.

Plenty of feedback in the TG group all evening Toffers, I'm sure some attendees will post their summaries on GGPChat tomorrow and over weekend and I'll do a transcript of today's webinar too when I get time :-)

Most interesting highlight for me is that Shaun seems to see Newmont divesting Hav as most likely outcome, buying Havieron stake from us as second most likely and JV continuing as least likely. Goes against what I thought was fairly even odds for first two but Shaun's closer to everything than any of us so I'll reassess scenarios :-)

Hardly surprising not much chat here any more sadly thanks to the disruption of some - but fair play to LSE for putting these events together.

It's also being streamed on YouTube so should be able to rewatch:

https://www.youtube.com/live/4Y_evHjeYUI?si=ENxNVA03ipOIWd1u

LOL Freddie - just a bit of humour :-)

I'm not saying you aren't entitled mate, but I'm not sure what he could have done to keep it up besides another discovery and let's be honest - that's a tough one no matter how good any geo team is or how prospective any region is for under cover ore bodies especially. TBF teh way some were going on in 2020 it looked like we'd hit at Scally etc. in one drill campaign or at Hav North etc.

We've had this Newmont deal delay our catalysts, the money left the sector in 2021 and AIM juniors mostly still seem unattractive, NCM went rogue, 18m behind in official confirmation of MRE - it's been a series of challenges despite the Havieron ore body growing in size and looking like a very profitable project even with current economic challenges.

A few things Shaun has been about as honest as you can expect a CEO about is:

- Shareholder value is mid to long term, he's not ramping about a production rerate TBF like a Lenigas type would...

- He warned us about the option exercise being loaded again us, didn't need to tell us that beforehand really

- He warned us he'd need to raise equity to enable funding so to expect something

- He's honest about Newmont deal leaving us hanging in air but confident that we do well out of it and outlined plans for various scenarios in detail, especially in Town Halls where he isn't limited in time and many of us then share these with everyone

The person I get most annoyed at... is me for thinking Orphan period wouldn't affect us much with Telfer and a production ready decline being built before a DFS and also in early 2021 thinking that the macro would come to favour us by 2022.

I'm usually really good on the macro and timing exits in and out of sectors/markets so that really annoys me but I was a newbie on the sector so getting the Orphan Period bit wrong doesn't bother me. And the Newmont deal... well that was a real wildcard out of the blue, would have been better for us once in production.

We all make mistakes, repeating them is what really makes you a numpty and we are where we are so you hav to commit to a new plan and keep your nerves IMO :-)

Loftmonkey - why do you and likes of dobbs worry so much about everyone else not agreeing with you?

Let's be honest if they did everyone would be selling their shares and you'd be staring at a lower SP... is that what you want? Seems a bit counterproductive for a shareholder and if you think the outlook is so bleak then why not sell as surely if we're getting screwed they'll push the SP down further so any 'premium' may be below this point?

Just sell up and play safe based on your outlook - and you'll be so much happier too :-)

You think I lose any sleep you or dobbs have a bleaker outlook than me, I couldn't care a jot and only ever asked you to define exactly what wrong decisions have been made and what would have been a better course of action, likes of you, dobbs, Freddo and others happy to decry the SP (which gives me no joy either and you're free to do so) but unable to articulate what/how things could have or should be done better...

You must have some ideas based on the time you all spend posting here on how the company has been badly managed?

@Aaqua - use the link below like many of us have to submit sensible questions that Shaun will be able to answer...

A good guide is... is this something you'd need an RNS to announce or something a CEO/MD can legally divulge or discuss.

https://www.surveymonkey.co.uk/r/KYFK8RR

p.s Ace - was that you or JD who stole the picture of Freddo on the dartboard in the chill out zone at work? I'll have to get Hydro to print another one off I suppose!

So Tymers.... you're now using consolidation to get to your 88p prediction - SMH

The crack must be extra potent in 'Preston' - always wondered what happened to Bubbles from The WIre lol

Having digested these... my thoughts are:

TBF I do think these could be less attainable i.e more challenging in some regards as some fair criticism is some of these read like just doing your job...

And also more specific (which I would assume they are in specific KPI's) such as increase Insto ownership by X amount or to close deals not just present opportunities to the BOD which I found particularly 'soft'.

But as a shareholder, you're left to react and not have control of these things, and these are in line with incentives I've seen other AIM explorers grant.

Https://www.newmont.com/investors/news-release/news-details/2023/Newmont-Receives-Clearances-from-Australias-Foreign-Investment-Review-Board-and-Japans-Fair-Trade-Commission/default.aspx

My main takeaway is how it seems that it's what the major and majority partner releases in terms of studies, resource estimates and comms that most seem to dictate the perception and understanding of the asset although GGP have released their own updated and JORC compliant MRE.

Much like how on HotCopper the NCM PI's posting there just see Hav as a Tier 2 without seeing the future Tier 1 potential having just built there understanding from NCM PFS, MRE's and market releases and expected NCM to snap it up from us at some stage. They'd have a better understanding of they also read GGP's but why would they I guess, so their perceptions and understanding comes from what NCM releases...

These guys did pick up on the valuations in NCM's scheme doc being funky though as GG!1 says and also noted they aren't picking up on the SLOS mine being able to ease the financing of developing future bulk mining which in turn pays for mining other zones of the ore body. It's interesting that savvy Ozzies aren't fully aware of the true potential of Havieron and certainly an ASX listing with our own market releases in their local market might help build a more accurate narrative for Havieron and GGP.

GDXJ rebalance :-)

@Redtrader - the loan agreement with Wyloo is a buffer for now with the visibility of events we have, it hasn't yet been triggered but provides a safety buffer for development costs for Hav or elsewhere should either new opportunities or needs arise.

As for Wyloo walking away... I assume as long as there is a DFS and DTM they intend to stick around and as you can see from recent license applications in areas where Wyloo and Fortescue hold adjacent land, it seems as if closer links are being forged for the future.

If we think about this rationally in terms of when we release the MRE... instead of more arguing :-)

- Firstly JORC compliance takes time once you've pulled together the initial conclusions from what I gather i.e. tech reviews, peer reviews and then submission for approval

- So this is where we are somewhere in process since the decision was made to release our own after NCM didn't update assets themselves, peer review stage is my best guess at mo, unless with ASX listing postponed, it allows more time for data analysis and integration

- We have to be mindful of GGP perhaps waiting for the Newmont deal to conclude and release afterwards to start on the right footing with NEM as JV partners , not written in stone we end up as sole owners of Hav/Telfer but updating an asset when both NCM/NEM chose not to before deal concludes would be unwise IMO

- Perhaps GGP offer Newmont as new owners the same opportunity for a peer review once they hold the reins in November?

- Nonetheless the plan seems to be to release before year-end, so within 3.5 months.