Member Info for djm101

Bankboy, what are the changes that will impact GGP in the next 9 weeks ? (Not sure I'd understand the implications from the PS)

Regarding a rerating....

at the pace of current exploration, what are the chances of having enough ore at Telfer to fill both trains at the current plant for many years to come ? Aware this has been discussed before, but perhaps not for a while...

The extra profit from an 'additional' 7-10mT p.a. of Telfer ore could easily justify the huge cost of a new plant at Havieron. We would then become a 2-plant, multi-site operation.

Imagine the rerate then (and the ozs produced by 2031)

Over-optimistic ?

Does anyone know if the June Ore Reserve Estimate will include drilling results for Jan-Mar (whether as ore or an update to resources) ?

Hold until one of the following:

1) gold looks like it is in bubble territory

2) thesis for gold breaks

3) GGP over-valued in comparison to peers and relative to Havieron prospects (currently, for me, that would be a PE of about 23)

All 3 look a long way off.

(Topped up at £5; should not have been so shy.)

News out:

83k Oz Au, 4128t Cu, cash Aus$1.208m (up $260m in quarter)

Fantastic. Thanks again Bamps !

Thank you so much Bamps, and for your ongoing valuable insights into this wonder. (I was very sorry to miss the Stroud meeting).

Stepping back from the detail, do you think GGP deserves an imminent re-rate to a 'peer level' PE of approx. 15, or do you think the Aus institutions would be reasonable to hold back based on whatever reasons they have for assigning such a low multiple thus far (e.g. 'new' company, declining stockpiles, upcoming increase in AISC, whatever else) ?

Also interested in thoughts of pj70 and others on this. I know we 'all' think a re-rate is overdue, but is there good argument for a lower multiple for now ? Devil's advocates, anyone ?

Interested in others' opinions. Hope I have digested the summary correctly.

Highlights for me are

1. the maiden WDU resource of 0.6mOz (likely to grow, perhaps a LOT)

2. WDO increase of resource from 2.0mOz to 4.9mOz (although lower grade of 0.43g/t, previously 0.56g/t)

Looking for 'criticism':

1. Higher grade stockpiles down approx. 75% from year before - but being well managed

2. MDU resource increase is modest. Excluding new category of VSC, overall grade lower than a year ago (not sure by how much due to VSC)

3. Interesting to see VSC separate, and grade is 'only' 1.09g/t. Not sure how valuable due to depth.

4. Analysts will figure out the negatives. Hard to know the right path, but imho company could highlight some of the negatives (Berkshire Hathaway-style) as analysts will figure these out anyway.

Https://www.shortman.com.au/stock?q=GGP

ASX short back up to 2.16% on Fri 20 March. Big jump last trading day before GDX.

Wish I knew how these things really worked.

Otto Richter acting up as COO. Achieved his mining engineering degree at Pretoria University with distinction in 1998. Almost 30 years experience, including several years at Telfer with Newcrest. I think we'll be fine. No need to mind any gap here either.

Not judging. Maybe it was by mutual agreement.

@Ianbeej Perhaps I've been reading too many paranoid posts on this board lol

There's usually an update by this time of the day....maybe still coming later today

I do think inventories are just normalising, so far, and retail investors are being 'pushed' to buy. Would love to have full access to all the numbers. Let's see. $150 silver or not this quarter....?

Since ealry Jan have been checking daily updates from Comex re silver inventories, which have been steadily declining (to more normal levels), with acceleration in rate of decline last week. No updates in past few days. Make of that what you will.

Comments need a lol response option.

Quitefrankly that was the worst and weakest deramp I have ever witnessed. And i've witnessed a lot of bs.

Clarification:

Over the past 4 months inventories have been drawing down - to something closer to average levels for the past 10 years (I don't have older inventory numbers, but someone might want to hunt online).

As far as I understand it, the term 'stand for delivery' means that ownership of the metal changes hands. It does not equate with removal of the metal from Comex vaults.

Happy to be corrected by someone who works in these markets, but I think issues are being conflated.

There was a huge increase in Comex inventories in 2025 (source: Comex inventory numbers and chart - freely available online), yet a total of 474m ozs 'stood for delivery' in 2025. This build up was primarily in anticipation of possible Trump tariffs on silver. Inventories have been drawing down to something closer to average levels for the last 10 years (I don't have older inventory numbers, but someone might want to hunt online).

Someone suggested predictions before the fact, rather than after the fact !

I say the physical market pulls silver back up in Shanghai tonight and into the week, and that gold and GGP follow.

I think this was an engineered paper crash, at month end, capitalising on the Warsh announcement. But he is no hawk !

JPM still hold a quarter of all Comex silver inventories, and official Comex inventories are still above early 2025 levels. Their shorts are just a trade. Their holdings are very real.

But hey, who really knows. And I'm already overweight pm and GGP, so not trading that opinion. Ok, I'll shut up now.

T

Agreed Speedy.

Love your work.