Member Info for jdt1990

Assuming we can expect to see those tomorrow...will give a good idea of where production is at and revenues

Good job there’s a PK data readout in Q4 then isn’t it, numpty. With that I imagine will come a licensing deal for 3996 and no need for any form of dilutive raise. Read the RNS, this bit fills me with confidence
“The Board believe that a significant near-term value driver for the Group is the clinical data from the phase I study of AVA6000”

Keen to see what the production rate now is at Homase!

Finally something positive here (and generally given markets at the moment)
Some okay intercepts there especially 22AKDD002. Nice they are updating as assays come in.
So these are deliberately “shallow” holes which is good as it means mineralisation found will be mineable using current infrastructure.
Represents only 1/6 of the drilling planned so let’s hope it carries on at good grades.

That’s average over H1 calamari. Price is only realised on delivery for vanadium. So there will be a lag in those elevated prices hitting the bottom line. Will also be impacted by lower Q1 prices - hence AVERAGE.
It’s a positive update with some marked improvement from a tough market in recent years.
Yes guidance down slightly but load shedding is out of their control.
Things are looking better for the near future.
How about you quite the endless doom and gloom?

Investor81. Have a read of the snip from the afr article in this tweet. That’s one reason.
https://mobile.twitter.com/YorkshirPuddin/status/1569224956810072065
Secondly, bringing on an institution adds some well needed clout to the share register and they won’t be selling into every 5% rise or bailing on every 5% drop.
The huge amount of PIs in this stock are the exact reason GGP is where it is right now. It needs more non retail investors, which is now the case!

Agreed wasa - Akrokeri drills coming up good would be a nice RNS to have in the hope of adding some positive momentum here.
Like you say, what we really need to see is a production update at Homase because in all honesty, that is what clears the debt (albeit minimal) and will fund any work at Akrokeri and even pay dividends.
Right now, Homase hiccups are the driver of the SP slide. If the can show the plant works effectively and recover rates are where they should be, that will bring back the confidence they can grow this company to its potential.
Right now, you couldn’t argue with anyone saying “Akrokeri has some amazing drills but they can’t even get their house in order at Homase so how will they do that on an even larger scale”
Operational update soon please GRL

Thank you for taking the time to post this. Good to hear they acknowledge their shortcomings and that the production rate is still on track. That should put some £ in the bank depending on impact of current climate on AISC. Interesting on dividends too.
I’ve pasted my email to them below which shows at least they do acknowledge questions from non attending shareholders as you have literally answered them all! Thanks again.

Good afternoon,

I am unable to attend the AGM in person this week. Please see below a number of questions and comments I have to raise to which a response would be much appreciated>

1. Was the gold loss attributed to the robbery insured, and the company able to recoup the value?
2. What is the current state of Akrokeri drilling and when can drill results be expected?
3. What is the company's policy towards frequency of investor communication? To date, investors are kept in the dark for months on end, to only be told what is usually bad news intertwined with wider releases.
4. Is the current 2022 production guidance of 14,000 oz still on target?
5. What impact on AISC have the rising prices of fuel and intermittent diesel availability had?
6. What does the company plan to do to be able to deliver some returns to shareholders in the near future?

Regards,

Hi Johnpwh. No problem. Nothing wrong with differing views and a polite debate! Rarity on these bbs!
Here’s the extract from the RNS:
“As proceeds from any option exercise were always required to offset the existing Newcrest loan first, the Company was not planning on receipt of proceeds for its ongoing funding requirements. In parallel, the Company's debt funding strategy incorporated flexibility with respect to its ownership level of Havieron. Accordingly, the 30% ownership of Havieron is accommodated within our debt process and is a continuation of business as planned."

So that is where I disagree with you stating the 60m would have avoided a placing. The option funding would have left 10m or so in cash, not going to move the dial in debt financing conversations.
This has clearly been in the pipeline a while and just dragged out by the ongoing 5% debacle. Dare I say it knowingly by JPm and NCM!

Haha barnetpeter…..hundreds of millions needed? A quick look at the GGP presentations tells you it’s $73m capex that Greatland require. Jog on…

johnpwh - why would we have been better off getting $60m for 5% of Havieron. Yes in the short term the dilution is a pain. However, cash on balance sheet was likely a condition of the lending. Just like any bank wouldn't give you a mortgage to build a house if you didn't have a penny in the bank.
Remember, this will fund us to production, where after that, revenues fund the further development.
The current reserve of 6m ounces is a portion of what Havieron will be over time. That 5% is worth a lot lot more to GGP in the future than the opportunity cost of not getting $60m in the bank from the option.
ALSO...the proceeds of the option would have had to pay off the 50m Newcrest loan, so it would ahve had minimal bearing on the funding route, it will just have been a factor in the debt part of bank's credit checks/approvals.

I'm annoyed the shorters got out free, Biswas playing games was a kick in the nuts for PI's and the bear market at the moment meant placing was at a poor price.

However, it's done...we are almost funded to production (debt tbc) and I would much rather suck up some dilution to retain 5% of what we know is a 10m+ ounce ore body...minimum

Slide 10 of this presentation:
https://greatlandgold.com/wp-content/uploads/2022/03/GGP-Investor-Presentation-Mar-22-1.pdf
-Greatland share of upfront Capex is low US$73m plus the US$50m already funded through an existing loan facility.
-Greatland share of upfront capex of US$73m reduces further to US$53m if contingency is excluded

So we can assume the 50m loan wont be paid off with this raise, why would it be?
US30m to be raised via the placing (possibly more as it may well be oversubscribed by shorters **ahem JPM** wanting a cheap out!) and hopefully the residual is done via debt financing.

That's GGP covered to production, where FCF generation will (if we are to believe Shaun) provide the ongoing financing for further Havieron development.
There will also be cash available to get to the 100% owned sites now which could add some optionality.

Sucker punch that the shorts got out for free and the PI pays....but the uncertainties are almost all out of the way now and we can move on to production, funded to get there.

The shorters playboook definitely certainly worked to perfection for them. Why wouldn't it, there is no way they didn't know there would be an easy exit. The dragging on of the 5% certainly helped them pull it down to get out scott free.
However, we knew some equity raise would probably come as part of the debt financing package so hopefully this is a line in the sand and we can start to rebuild from here.

Great, thank you all, much appreciated. Look forward to hearing what was said......hopefully the only way is up from here after all the set backs!

Did anyone attend? Would be good to hear if any of the questions put to them were answered and if the company had anything else to say for themselves....radio silence as ever

Darientaylor. Are you mad?
GGP offered NCM $85m to buy the 5% back. NCM also declined that offer. So GGP essentially got their 5% back for free. That’s a great result - no turd there to polish!
Shaun has already stated he has been working on debt financing with the banks. He wasn’t banking on the 60m coming in to fund.

Apologies I stand corrected.

Jamesp21. They had 30 days from announcing the option price agreement to exercise. That’s 30 days from 21st July. Conveniently ties in with the NCM final results due 19th August which we have been told will include a resource upgrade for havieron

Scott Fletcher must see something here to put the kind of money behind NCCL that he has, which is the only thing I am holding on to given I’m so far underwater now it’s not worth selling!
I’m hoping this “shareholder loan” doesn’t end up with the joke of a structure like the last solar project!

ARCM whilst I appreciate the SP move is disappointing, I think venting the frustration by putting this solely on FM and BMN is probably a little harsh. Yes they haven’t blown it out of the water.
However, production guidance remains on track albeit the lower end. Costs will come down at Vanchem with that production increase. We’re also lucky V prices remain higher in the US where we sell the majority and Rand is also helping mitigate the production slip. I think the financials will be a welcome surprise.

What people seem to be missing here is BMN are at the mercy of ESKOM with the load shedding, in a country where there is a genuine energy issue. That won’t change overnight but BMN are trying to help find solutions here.
Political issues never help here too.
Not to mention South Africa was one of the stricter countries through C19 and dealt with it through heavy lockdowns. That hindered progress BMN we’re making.

As far as the AIM casino comment. There are numerous lifestyle companies on AIM run by cowboys who deliver nothing. BMN isn’t one of them, they seem to have just been very unlucky with the hands they have been dealt.
Not blameless of course, comms are dire and Bushveld Energy needs to start to deliver something soon!