Member Info for lebugue-addick

Greatland have been replying for the information of investors:

Thank you for your email

The process around the 5% is ongoing with a price determination outcome as the next outcome.

An independent valuer has been jointly appointed to review each parties submission before making any price determination. No arbitrator is involved in this process.

We will announce the outcome of the price determination milestone when that is known.

Thank you for your interest in Greatland Gold.

Greatland Gold plc
Investor Relations

18.03 speedy - quite agree. It will be good to start talking about fundamentals again instead of listening to the constant background noise of some people who come on here and haven't done any research.

NQM - I asked you to provide supporting info for your comment at 8.06am today when you said: "But, at a market cap of £400m I still think GGP are overvalued at present". Now this afternoon you have bought shares. Not sure about the sudden turnaround but welcome anyway.

ATB l-a

Leeson very carefully I shall say this only wonce........#LSExit

Empty vessels from Canvey Island need not apply

The Federal Reserve releases the results of its 2022 bank stress tests later - all eyes on market reaction later

Hi NoQuestionMarks, just picking up on your statement: "But, at a market cap of £400m I still think GGP are overvalued at present".

Would you be able to share your calculations and economic assumptions behind this statement please?

Cheers l-a

Everyonesawinner - Agreed. This is just a necessary rebalancing - rather than selling after considering the fundamentals of the company. Nothing negative is implied.

Redirons. Agreed. All they have is personal attacks. Where is their analysis - nowhere to be seen as usual. They see but can't read, they hear but can't listen.

gg19 - here's what I had to say about about Shaun Day yesterday, in particular engaging with PIs. Now you can see why I said you posted utter rubbish, but you like to name call - classy:

"He (the poster) conveniently forgets that Shaun Day:

* orchestrated the MRE upgrade to 6.5 million ounces of gold equivalent which itself is ultra cautious by his own admission;
* has put in place a strong management team capable of holding its own in discussions with Newcrest and others;
* arranged for the JV team to meet 5 times a month, adding to GGP's credibility as an increasingly knowledgeable company
* has not let Newcrest get their way on buying the 5% at the first opportunity - clearly negotiating hard on behalf of shareholders to maximise the $ from what appears to be a less than favourable agreement
* engages strongly with shareholders and the media to sell the GGP story
* has a track record of creating shareholder value everywhere he's been
* has attracted more institutional shareholder to the register
* notes "bank financing underway with objective to be fully funded up until free cashflow"
etc"

Laughable stuff here today - it's as if no one on here today has done any research; read no RNS's, nor listened to any interviews, nor heard what Sandeep has had to say; nor looked at any macroeconomic stuff; nor wondered if the Ukraine conflict might have affected sentiment..........

gg19 - you clearly have not listened to any of Shaun's recent interviews. I suggest you pay more attention in class before spouting such utter rubbish

Hi spoon_key. I am back home now and said I would let you have some thoughts about valuing mining shares. In fact since April I have found the attached article from seeking alpha quite useful using a 10-step approach. It is quite detailed and the author uses it for identifying undervalued stocks.

Have a read and I think you will find that Greatland passes many of the valuation tests which the author sets.

You can plug in the assumptions that GGP set out in its RNS of 12 October and play around with those suggested by Newcrest, then by Greatland and bring up to date for latest commodity prices and exchange rates.

I think you will find it quite informative and dispel a lot of the myths that have been put around on this board recently.

It is only right that you do your own calculations based on the information - as I have said on many occasions there are a lot of variables so coming up with a definitive value for Havieron (5% or 100%) is somewhat subjective. But you will get a sense from the posters on this board as to where there motivations lay. Independent thinking is always best. If you are able to go to one of the get togethers at the Stag or in Stroud it is well worth it. They are a friendly bunch and have a wealth of information and expertise across the subject.

https://seekingalpha.com/article/4499376-how-i-value-gold-and-silver-mining-stocks

https://www.lse.co.uk/rns/GGP/havieron-south-east-crescent-pre-feasibility-study-169x10fdpr66mf1.html

The Valmin code is also worth looking at to get a feel for the type of things an arbiter might look for:

https://www.valmin.org/docs/VALMIN_Code_2015_final.pdf

Hi spoon key. Would be pleased to help. I am out and about at the moment but will respond more fully later. Are you on telegram btw?

Spoonkey - be very careful how you interpret the video you have requested. The discount factor applied is 4.5% not 17% which Hllnvestor and others want to show you.

Please refer to the October RNS for the PFS assumptions.

This guy should be reported for making misleading statements.

Hllnvestor - the NPV and free cash flow calculations are clearly set out in the October PFS calculations RNS. Remember that was just for a 14mt starter mine. I would be astonished if investors had not read the accompanying assumptions that went with it. You ought to give investors more credit than that implied in your post.

I see Russell Hobbs is letting off steam again.

He conveniently forgets that Shaun Day:

* orchestrated the MRE upgrade to 6.5 million ounces of gold equivalent which itself is ultra cautious by his own admission;
* has put in place a strong management team capable of holding its own in discussions with Newcrest and others;
* arranged for the JV team to meet 5 times a month, adding to GGP's credibility as an increasingly knowledgeable company
* has not let Newcrest get their way on buying the 5% at the first opportunity - clearly negotiating hard on behalf of shareholders to maximise the $ from what appears to be a less than favourable agreement
* engages strongly with shareholders and the media to sell the GGP story
* has a track record of creating shareholder value everywhere he's been
* has attracted more institutional shareholder to the register
* notes "bank financing underway with objective to be fully funded up until free cashflow"
etc

Spoonkey - you need to re-read your original post to see why people jumped down your throat on your 5% valuation

spoon key - It is clear from reading your posts your motivation is to rubbish the company, which is another reason why people do not want to discuss fundamentals with you.

spoon key - the valuation of the 5% has no bearing on the remaining 25% from an SP perspective and it would be de-ramping to suggest otherwise, so I guess we can knock that on the head. In terms of the valuation we do not know what the JV agreement says so we can't speculate otherwise. You can do all the number crunching in the world but what you need to know is what parameters the two companies are working to. Without that all your calculations are flawed no matter what you try to say.

There are just too many parameters to come to any reasonable judgement including, but not limited to, the following:

1. POG used by NCM
2. POG used by Greatland
3. POG at today's value which has moved on since PFS in October 2021
4. AISC life of mine used by NCM
5. AISC life of mine used by GGP
6. AISC currently being negotiated
7. Copper price used by NCM
8. Copper price used by GGP
9. Today's copper price
10. Total operating cost life of mine used by NCM
11. Total operating cost used by GGP
12. Current negotiating total operating cost
13. Capital project assumption NCM
14. Capital project assumptions GGP
15. Current capital costs being negotiated
16. Exchange rate used by NCM
17. Exchange rate used by GGP
18. Current exchange rate being negotiated
19. Discount factor to be applied
20. Discussions on ore to be milled - 2mtpa, 3 mtpa or some other figure
21. life of mine discussions - still 9 years or some other figure? Potential effect on NPV
22. Average gold grade NCM
23. Average gold grade GGP
24. Current average grades being negotiated
25. Ditto for copper
26. Gold produced over life of mine - as per NCM
27. Gold produced over life of mine - as per GGP
28. Extent to which PFS calculations are used
29. Extent to which GGP's updated MRE is to be used
30. Any other MRE being prepared for NCM's 30 June accounts - ready for August release.
31. What an arbitrator might conclude if used.
etc etc etc