The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Nothing much has changed since last note, this is the main bit of the note:
“What we are expecting: - As an explorer and developer with no revenues, we do not expect any material financial updates for Greatland. Instead, the company’s shares should be driven by ongoing exploration results from its Havieron project in Western Australia, which is subject to a JV with Newcrest, and progress towards the completion of the feasibility study that is evaluating the development of an underground mine at the project in Q4 2022. A 90,000m resource drilling programme is underway at Havieron and Newcrest should publish an updated resource and reserve for the project as part of its annual update. Greatland published a third-party-reviewed update of its own in March with a gold-equivalent resource of 6.5Moz and a gold-equivalent reserve of 2.9Moz, and so focus will be on how closely Newcrest’s number matches this. There should also be an update on the ongoing discussions between Newcrest and Greatland in relation to the acquisition of an additional 5% of the project by Newcrest.“
Reason for Berenberg downgrade:
“? Model changes: - We have made no changes to our operating expectations, but have updated our valuation to take account of changes to our commodity price assumptions and the prevailing in situ valuations for the Australian mid-tier gold miners.”
I knew when i pressed the link it was gonna be a song…so glad you chose G’n’R and not Take That!!!! (thumbs up emoji-sunglasses emoji)
Hmmm…are you sure about that troublesome? Elephants are becoming extinct for a reason :-(
The problem is humans, we make everything a product :-(
Certain jurisdictions*
Armed robbery in Ghana - they got away with 350k worth of gold - crazy!! Probably a security inside job. (Another reason I stay away from vetting jurisdictions) :-0
https://www.lse.co.uk/rns/GRL/restoration-of-trading-sjwzi5i0j95h3oe.html
Let’s not forget SD’s options at 25p…sure he’d be delighted with a 20p takeover :-0
Greatland Gold
Antipa Minerals
Cobra Resources
Arkle Resources
De Grey Mining
Wow…load of posts for nothing really. The new chat is not like telegram. You don’t have to join to read. Use the best of both however much you want (thumbs up emoji) - another blue day :-)
Ok, the posts are showing now. Apologies. Good luck with it Bottle and the rest ??
Bottle…can we not at least read the chat without registering? If that’s possible to do, I think you should do it. Not everyone wants to sign up new accounts.
Rio Tinto start drilling in the Sipa JV near Winu.
https://hotcopper.com.au/threads/ann-drill-program-commences-at-paterson-north.6802750/
Hey!!! That’s my favourite line Bamps! Ya thieving barsteward…and it wouldn’t have taken balls at all, just smarts. Newcrest would have saved themselves the $2bn needed to decommission Telfer…they would have bitten Shaun’s hand off for the dollar… ;-)
Just a couple of examples of other miners/explorers during this turbulent 18 months. They’re all roughly numbers over the last year or so. Yes, you can find ones that went up too, but not many. GGP’s fall is enhanced due to the fact that we had a much bigger rise than nearly all of the others, hence the higher you go, the further you fall. Even Rio haven’t been safe. Both Aussie and London based companies here. Just random examples of some of the companies I follow: (drops are obviously multi-faceted with various reasons for each but the overall sector and market last 12-24months is similar for everyone)
Rio - 6100 to 5217
Nova - $1.4 to 0.6
De Grey - $1.2 to 0.86
ECR - 3 to 1.070
Auteco - 0.09 to 0.037
Sipa - 0.066 to 0.038
Castillo - 0.04 to 0.013
Goldstone - 14 to 8.1
EUA - 26 to 7.1
Solgold - 28 to 35
Great Boulder - 1.7 to 0.7
Orosur - 13 to 8.62
Vast - 2.3 to 0.7
Some of these are in dollars and pounds so bear in mind the drop seems smaller but the mcaps equally or even more affected regardless of percentage drop. (Solgold the only one that seems to have avoided the current crazy days - go figure :-)
Hopefully, the tide will turn sooner rather than later (fingers crossed) lol
If we’re a sitting duck, then so are nearly every other explorer, producer currently in the sector…and also it won’t come from anyone other than Newcrest due to Telfer. If Newcrest start buying us up, the share price will rapidly escalate and it would cost them a fortune, of which they don’t currently have, going by the lack of dividends they paid and the unhappiness of their shareholders too. Shaun has built a proper team and they are digging in for the long haul…(and I don’t believe they’ll bother with a low ball offer for the whole of us)
Freddie, if you’re still buying then you have to stop complaining, otherwise you’ll drive yourself round the bend. You can’t blame the rampers now.
Good discussions yesterday about the value of Havieron and in turn GGP with many viewpoints. Personally, I think we forgot another of SD’s favourite words - “leverage” - once a steady income from Havieron is sorted for x amount of years…that’s when Shaun’s fun begins. That profit/income can be used as collateral for Shaun to start the development and expanded growth of GGP in “his” way. I bet he can’t wait and neither can I.
Well today is stinging a bit, kinda feels like the morning after a large vindaloo. World is going crazy at the minute and we’re in the middle of what seems like a massive ****-storm.
Shaun HAS to, and I mean HAS TO have the “fully funded” RNS/statement at the same time as the 5%. It’s the only thing I think will put a definitive line in the sand for us and maybe end this ridiculous downtrend.
Hey Redirons, I think it’s harder to make comparisons with companies in different jurisdictions. There’s too many extenuating circumstances that play a role in the whole development. Plus the fact they found their ore body like over ten years ago. A lot has changed since then. DEG (ASX) timeline beginning is pretty much exactly the same as ours. Also, lots of power struggles over at Solgold too from what I’ve heard and read.
Although, a 1% sell to Franco Nevada for $100m wouldn’t go amiss from Shaun Day here :-)
De Grey Mining is a lovely parallel to GGP. Both ore bodies were found at relatively the same time, with both companies having a massive rise in 2020. Difference between the two companies I think is merely the JV. They also seem to be at a “that” certain point in the Lassonde Curve so it will be good to keep an eye on them and how they go about getting to production. We are further along the path and will be quicker to production in my eyes, but they look like they’re gonna try and go it alone. Will be a very interesting company to keep an eye out for comparisons down the line.
JV with Antipa to build another processing plant in the area please (thumbs up emoji)