Member Info for GGPThruandtru

GGP capex is currently estimated at $73m for the PFS. As we’re adding an extra 50% to that for the FS, say $105m, adding any inflation and other changes, let’s say ballpark $150m, to get to production. We are not paying for the full capex, only 30%.

SD has played a blinder here coz with our equity and debt funding we are covered for most eventualities leading into production and all the rest is money for Shaun to play with. That’s where the shareholder value will be made. As SD has told us many times, Havieron is just the base, the starting blocks if you like, then using Havieron’s “leverage” - again, one of Shaun’s favourite words, we create value elsewhere. And don’t forget even another few moz find and it’s basically a second Havieron to us. 20moz @ 30% = 6moz

I think we’re capable of finding another 5moz ore body, especially at Earnest Giles. That basically means we have 2 Havierons :-) Although, as Shaun has stated too, we’d prefer to find it in the Paterson due to the current infrastructure already in place.

First few Lego blocks placed and we still have no idea what we’re building, but OUR BASE…? Well that’s solid as frack!!

The NCM/Antipa Wilki JV is the interesting one. It’s still very much a greenfield site but that JV pretty much includes all the surrounding area of Telfer and some of the area that is between Havieron and Telfer. I’m actually surprised NCM haven’t gone drilling quicker there. Think that’s their plans for this year. As I own shares in both these, personally I would like a nice big hit in this JV right between GGP and Telfer. NCM could then kill 2 birds with one stone when/if they decide upon the transportation route of all the Havieron gold.

And I’m still kinda hoping SD is thinking about maybe a little standalone plant at Havieron to maybe process any valuable material that Telfer won’t be able to process - eg. Nickel/Cobalt etc.

Minyari/WACA is the one that will go to Telfer. The other hits are too far away I think. Personally I think Antipas scoping study on a stand alone plant is their way of telling Newcrest not to charge them too much for tolling as they’ll do it alone if needed. Newcrest NEED ore for Telfer and with Antipa AISC being around $1200 I think it will be cheaper for them to toll treat it. That should bring down the AISC. Don’t know they’re plans on how to get it out as I just speed read their scoping study.

Either way, I still think the most important factor is that Telfer needs ore and Newcrest need Telfer open so it doesn’t cost them a fortune to close or adapt and they especially don’t want to lose the staff if they envisage returning to 20mt per annum. I think this gives the little explorers around the Paterson a bit of an advantage now when negotiating new deals with Newcrest to use Telfer.

Don’t think it’s quite as simple as 10 years Ben/Bamps. If Newcrest found something else then they could also fast track it.

This in my eyes is probably the biggest risk factor in terms of GGP going mining, and I’ve had a little look and think about it and I’m not worried yet. The key I think is depth of ore and all the permits/PFS/FS stages.

Luckily, Telfer itself has been mined to death so all the shallow stuff in and around Telfer is long gone. Shallow stuff is what would mess us up a bit (but it would need to be a huge find either way).

Now Antipa has some shallower stuff and is probably the nearest to production with the release of their scoping study. But even that was estimated at 3mt of ore, so same as us, and they are also around 50km away, so without the PFS/FS they are probably still behind us, but much shallower. Even with GGP and Antipa combined it is still only 6mt ore into a 20mt plant.

There is a lot more Paterson ground in and around Telfer that has yet to be explored but currently nothing has been found. Due to the sheer size of Telfer, I can’t see any problems arising from other ore bodies for a good while, unless they find like 10-20moz at quite a shallow depth.

But, we will eventually share Telfer with some more ore from elsewhere. Antipa seems a very obvious choice for Newcrest (I don’t buy antipa going alone). And I hope more ore comes from another one of our tenements to add to Telfer. It’s one big bad ass production plant. Needs to be filled!!

Haha, some great chat today on the BB. Some crazy wild scenarios being thrown about too so here’s another one…

Newcrest play silly buggers and decide to not to mine it at the meeting, so that GGP have to raise the cash to pay “FMV” for the 70% and maybe go bust…by then the resource has expanded more and SD goes and sells the 30% at a more elevated price to another company to pay for 70% at Newcrest FMV price.

We end up with 70%, cash in the bank and probably buy Telfer for a £1 too!! (Lol) - love crazy scenarios…someone do another! :-)

Agreed. This won’t be used to pay Newcrest off. No need. The extra 40m is stated as debt financing. Will not be another placing for that.

We knew it would be a quick turnaround. Disappointed at the 15% placing discount as I believe we could of raised at the current SP. However, with this raise and the additional 40m debt finance included on top, we should get an RNS stating “fully funded till production”. This is the minimum required now from SD with this discounted raise!

Either or Daveri. I don’t mind. Both mean we are funded till production. What more can you ask for. The fact we have choices is great for SD ;-)

“@rosso - so you’re happy to give away over 10% of the company for 50m - dumbest post of the year!”

Jesus Christ Daveri, that’s the dumbest comment yet mate. If you’re diluting to keep the lights on or pay wages then that’s “bad dilution” but if we diluted and then an RNS stated “fully funded till production” - you don’t think we’d instantly jump 20/30%. It would be as if no dilution took place…that’s called “good dilution”.

Cineworld springs to mind for starters. Other miners I follow are also over 50% down in same period but no closer to anything. We get closer to the gold everyday. Share price might be dropping but in terms of reaching a “goal” - we are head and shoulders above nearly everyone.

We’ve been over this Daveri and you always regurgitate the same rubbish. I also invested more in the 20s and I have no issue. I asked myself, where do I see the company going? And what are the goals of said company? They haven’t changed. We’re just further down the line to becoming what we want to be. After all, there is also a recession going on globally and in comparison to other listed companies in all sectors, GGP has actually held up pretty well.

Since when has our SP suddenly become “low”. In my eyes it’s still way up when we began the process of becoming a miner. We have gone from less than a penny to over 10p - it’s all a process to get to where we wanna be. You can pick any moment in time to decide that an SP is “low” or not good for dilution. We are still on an upward trajectory in terms of becoming a miner. I don’t give two hoots about dilution and neither should you coz all proceeds will be used to become self sufficient and this “low” SP should be long gone by then.

Nothing wrong with dilution if it’s for the right reasons. We’ve been diluted loads since GH time and most are still in profit. If the company is going in the right direction, I have no issues with dilution. My preference would be to get the whole $73m from one source and be done with it ASAP. No faffing about with us retail for funding. More time consuming and probably more expensive. I still believe in selling 1-2% to a royalty streaming service. No dilution and no faff. Done and dusted.

We’ve been to single digits before and it’s not the end of the world guys. As soon as we get back out, everyone comes back and shouts the same. Been there, done that, got the T-shirt. Liquidity is our friend as SD has often mentioned. If we weren’t liquid we’d have massive volatility. Be happy we’re liquid (thumbs up emoji)

The $50m loan was to get us to a certain stage, I think it was always available to pay the costs up to the FS stage so we don’t really have to worry about funding u too then if SD so decides. After that, the amount needed, still from last check, was $73 for production. I reckon that should be easily doable in any circumstances. Onwards and upwards folks :-)

The issue Newcrest have is that even with Havieron, Telfer will not be running at full capacity for a long time. They need another source of ore and Minyari is currently a shallow ore body compared to Havieron. I can easily see both tenements being used to feed Telfer, but in no way can i see them slowing Havieron down for any reason. Telfer is just getting too hungry. They want more ore, faster, not to slow things down.

If you look at the Aussie market, they are also under the impression the ASX is manipulated. They have often spoke of their companies listing on the LSE too in order to avoid “manipulation”.

At this point, after the 5% has been rejected by NCM, we are not liable to pay anything back until after production starts. What’s interesting is that there has been a lot of talk about not being able to get funding/loans whilst we owe NCM this money. Shaun must have surely thought about this scenario. We now have 30% for sure. What we do with it is anyones guess, but surely they’ll be some news in the next couple of weeks from Shaun about funding. We wait with baited breath :-)

What a weird turn of events. Don’t think we ever expected that. Oh well, I guess it’s an extra 5% to play with. SD is delighted as he always said he wanted to keep it. We should be equally happy, but now is the time for him and GGP to step up in terms of funding. Few unanswered questions now that need sorting.

The “extra” 5% can surely now be played with as we weren’t expecting to have it anyway. Sell 1-2% to a royalty streaming company and we get funding plus we keep the extra 3-4%.

Another twist in the tail of the GGP story. Seems to get more interesting every month :-)

Great couple of posts Bamps.

A few people have been saying this for a while. Havieron to GGP is NOT Havieron to Newcrest. We need to understand that until things heat up and we get nearer to production, Havieron is just another tenement/project for them. It doesn’t really touch their bottom line. They are just too big! Let them be the experts they are at mining, while GGP and SD work alongside.

Havieron is like the first few starter bricks on a Lego piece. The rest should, with a bit of control and guidance, all fit in the right place till it looks, just like the box…(thumbs up emoji)

Any new news on Havieron is always good fun, so enjoy tonight :-)

It’s not so much about what’s going on now with Antipa, even though they currently have in a way, more personal gold than GGP, they’re issue is that there isn’t a clear “path to production” yet. Which is where GGP excels.

The idea is that if the Paterson is indeed “elephant country” as we keep being told by multiple sources, then Antipa, with its landholding from Telfer all the way up to Winu, is like the now long extinct Large Woolly Mammoth…clearly the “big daddy” in the area.