Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Topslicer100
Completely agree. Well done that person.
The market doesn't like uncertainty. I'd say the private investor may be willing to take a bigger risk.
The market needs more certainty. i.e. FS and decision to mine. We've had a long period of uncertainty with Newcrest's intentions, the 5%, Newcrest takeover and now Newmont divestment.
I must admit, it feels like big decision time for us PI.
It's down to the individual whether they wish to take the risk & believe in the prospect.
My personal view is that now is a great opportunity to buy or add. Of course, nothing's certain, but it's down to risk / reward and personally I think it's worth the chance. Just don't bet the house on it.
My confidence in Shaun and the company remains high, despite the challenges. He's proven so far to be a man of integrity and capable of dealing with the challenges calmly, rationally and professionally.
@ Ninetopprizesof
Are you invested in Greatland Gold?
If you are invested, why don't you send that email to Greatland Gold asking for the aquifer progress details? You sound transfixed on the matter.
If you're not invested (as I suspect), what is your purpose here?
After all these years in development, why would anyone mothball Havieron when the decline is 80 vertical metres from a huge ore body, with a processing site nearby?
Or mothball Telfer, and lay off all those workers? Is Telfer losing Newmont money?
I don't forsee mothballs.
But let's pretend that was to happen. What would or could Greatland do about it? Would the board honestly put up with that?
Consider this. Perhaps my n is showing.
Why would Newmont become a distressed seller? What's actually the rush?
Continuing the development with GGP on Havieron would ultimately add value to the prospect, offsetting further development costs and extending the life/value of Telfer... would it not?
I understand Newmont's intention to reduce their portfolio and focus on the established, tier 1 mines, but I don't see a reason why they would need to be in a hurry to sell either their share or Telfer on the cheap.
They may even reconsider their intent to divest Hav/Telfer, should they not receive a good offer.
Said Lloyd, looking through the keyhole...
Perhaps evidence is a bit strong, but indicators at least...
- Newmont focusing on tier 1 core projects.
- Newmont to divest Havieron & Telfer.
- Newmont have inherited JV partnership and original commitments.
- Greatland have first refusal to match any offers for remainder of Havieron.
- Newmont & Greatland Gold have a strong working relationship according to Shaun Day.
- Momentary pause with decline progress while lower aquifer is pumped and haven't we seen satellite evidence of evaporation pools changing? News on this would help settle the nerves but equally, we haven't got any concrete evidence to prove mine development (not decline) had stopped. Therefore, as of right now, it hasn't stopped.
- Shaun has indicated that full ownership of Hav & Telfer is a dream scenario.
- Who is going to buy a dwindling Telfer without being able to feed it new ore?
- Greatland have built up a strong board of heavyweight management with huge experience and contacts.
- Greatland is being backed by Wyloo and subsequently Andrew Forrest, Australia's richest man, self made from iron ore mining. Perhaps he'd fancy a piece of the gold?
Ignoring the shorter term share price volatility and the 'how will they do that', but look at the intent and long term plan. What do you think of likely going to happen? What evidence and likelihood is there that Greatland won't continue on ?
I believe Greatland and/or Wyloo will retain majority control of Havieron. Perhaps Rio will be interested in a joint deal. If not, Havieron is sold but it won't be for peanuts. Anyway, why the hell would Greatland want or need to sell Havieron cheap? It's the golden goose. The company maker. The resource that will help fund all other company growth and exploration.
I'm trusting in the big chiefs to work out the best deal to get Havieron into production. Whether it's 100% Greatland, partially or not at all, investors should still do alright.
Now's the time to stand by and have courage and conviction with your decisions.
We don't know what will happen. We do know what has happened and what the intent appears to be. Place your bets and wait patiently. If this was easy, everyone would be doing it.
For those that are questioning Shaun's actions these past few years, please can you tell me what more he could have actually done to keep the share price higher?
The only doubt I have is why hasn't he put more of his own money in and bought more shares? When if I had, what impact is that going to have on the share price over the course of years developing a massive project? However, the flipside - I've seen enough to know he's putting his life and soul in to the development of Greatland Gold, which appears to me to be for an ever-growing, long-term plan, one that I can only trust will come to fruition.
Aquakidd - what is the purpose of your recent doom and gloom post?
This isn't like SXX. I'm not ruling out that it could go that way, though.
However, SXX had a hugely ambitious project. Miles of underground tunneling. Special machines to do the hole boring and tunnelling. Didn't they need to raise £2 billion, on the basis that they had a wonder-product? They couldn't get the funding. In hindsight, the SXX hope was just that - built on a lot of potential and theory. What serious backing and interest did they have?
My basic view - Havieron is a gold mine. Gold is a known. Gold mining is a mature industry. The value and related costs are being mapped out fastidiously and is well planned. The interested parties in Havieron are serious players.
My simple opinion is this.
Newcrest didn't want to pay the true value for the 5% of Havieron. Newcrest were downplaying Hav & dragging their feet, hoping to get the 5% on the cheap. GGP did the work to prove it's true value. Around this time, Newmont entered the picture to buy out Newcrest and Newcrest declined to buy the optional extra 5%. They likely had their hands full with the buyout.
Newmont are selling their 70% Hav stake + Telfer, along with other 'non core' projects, to raise cash. I doubt it's due to the lower aquifer. Whoever started that theory is clutching at straws to cause panic. I trust that the engineers are working hard to resolve the challenge.
Newmont want to streamline their portfolio & concentrate on the projects that fit their definition of tier 1. It doesn't mean Hav is bad, it just doesn't fit their plans.
Can any of the smart a**es with 20/20 vision (and it's only in hindsight) tell me with 100% certainty, what the share price will be in a week from now, or a month? Higher or lower than today? No. No-one knows.
As a lth, I'd rather not be messing around trading if and/or when this takes off. I've placed my stake and I'll be waiting patiently.
It's easy (and pointless) to antagonize those that didn't sell when this was in the 30s. At the time, there was a lot of excitement and hope for positive Scallywag results. We would have been called fools for selling at the time.
Play it your way but keep your mouth shut if you've got nothing to offer other than gloating and stirring.
Thank you Dip666.
The video is now available. Here's the link again.
https://www.investormeetcompany.com/investor/meeting/annual-general-meeting-104
Hi Zoros,
No, I didn't attend last night.
I got the decline progress info from the Sep 2023 Corporate Presentation on the Greatland website - page 11, second bullet point.
https://greatlandgold.com/wp-content/uploads/2023/09/2023.09.18-Greatland-Denver-Gold-Forum-Presentation.pdf
I used "by June '24" as I had it in my head that they intend to reach the ore body first half of 2024. Sorry if I got that wrong.
Decline at 68% complete (1906m of 2800m).
Reaching ore body... by June 2024 (9 months).
Backed by heavyweight investors (companies and individuals) with big pockets.
Big potential partners in the picture - Newmont, Rio.
MRE update pencilled for Dec 23.
My only concern is the uncertainty and why Shaun still hasn't put his money where his mouth is. Still, I have. Bought twice this week to add to my holding. A gamble, I know... we'll find out before long...
I couldn't help myself... sorry Shaun!
https://twitter.com/Gadoberry/status/1501849987243819010?s=20&t=yaZCeI0LXK0JASJNuC3rxg
Newcrest Full Year Results have historically been released mid August for they past few years.
On slide 17 (project development timeline), NC state Havieron FS to be released Q2 FY23. Originally was expected end of 2022?
Lots of pitchforks out.
Emailing the CEO of Newcrest seems a bit drastic. It's making us PIs look unprofessional. I think people are jumping to conclusions far too quick. I trust that Shaun and the team will know how to proceed in the best interests of GGP and the shareholders. I've no reason to doubt that and for now, I feel they should be left to get on with the job. It sounds like they were just as surprised as we were. I'm sure they're asking the same questions.