Member Info for lebugue-addick

" The high-grade zone now supports the current production levels for 13 months, plant availability is back on track and improving after the installation of standby power and recoveries are expected to improve with the delivery and commissioning of the new crusher and additional CIL tank capacity".

ID78 - thanks, yes recoveries 75% not 86% I had missed that.

Also worth noting: "Tonnages mined continue to average at over 400tpd from the high-grade zones and an additional bulldozer and additional excavator have been mobilised to further increase tonnages".

So we could see higher tonnages in the plan

From Monday's RNS:

"Ongoing 360tpd of high-grade material with average daily grades from 3.15g/t to 4.92g/t being processed,

· The initial mining plan has now been extended to period of 13 months of delivery of high-grade material to the milling plant."

Hence it is safe to use say 4g/t for the 13 month mining plan I would say.

Hi all - based on yesterday's RNS and today's update I have had a go at projecting what this means in terms of profit for the next 13 month period. I have plugged in some assumptions into a spreadsheet and these are the summary findings. LSE formatting does not not give me the option of posting the spreadsheet here so the following are the top level findings.

ORE PROCESSED: 360tpd gives 143,000 tonnes for 13 months

AVERAGE GRADE: Assume 4 g/t

GOLD PRODUCED: 1,400 oz/month gives 18,400 oz for 13 months

GOLD RECOVERY RATE: Assume 86% flat rate for 13 months; produces 15,820 oz for 13 months

GOLD PRICE: Assume flat rate of $1,900/oz

MONTHLY REVENUE: $2.31m leading to $30.05m for 13 months

ROYALTY COSTS: Rough estimate $70,000 p/m

AISC: Assume flat rate of $1,095/oz as previously mentioned

CUMULATIVE EBITDA: $11.8m for 13 months

TAX: Estimate 25% (need to check this)

CUMULATIVE FREE CASH FLOW: $8.8m for 13 months

COMPARISON WITH MARKET CAP: Shares in issue 1,879m; SP 0.5p = CURRENT MKT CAP £9.4m

CONCLUSION: Looks very encouraging, particularly when funding in place ($15.5m). Observations welcome - some assumptions are, by their nature, subjective.

NOTE: I have ignored Capex for this illustration

"Why has SD 'brought' on board such a high calibre team.....because Twiggy told him to?".

Lesley Hornby has changed her profession?

Berenberg raised the target SP today from 19p to 20p. For those of you who believe in this type of thing.

This is what GGP had to say on 10 May 2022 after being awarded the grant. For comparison Havieron is only some 38 sq km versus 65 sq km for Rudall:

About Rudall

The Rudall licence covers an area of approximately 65 square kilometres approximately 20km south-southeast of Greatland's Havieron gold-copper resource. The licence is considered to be prospective for Havieron and Telfer style gold/copper occurrences.



Greatland has completed geophysical modelling to enhance preliminary targets identified at the Rudall licence, including the Ramses magnetic anomaly. The modelling suggests the depth to top of the magnetic anomaly is approximately 700m below surface.



Further geophysical survey work is being planned this year to refine the Ramses anomaly before an exploration drill program is undertaken, utilising the EIS grant to co-fund the drilling component of the 2022 exploration work programme.

This is the £115,000 grant that paid for it. Well done Greatland - on the ball when it comes to innovation. WA government will also be well chuffed with their choice of Greatland as a safe pair of hands. Can only help if there's another grant opportunity.

https://www.lse.co.uk/rns/GGP/drilling-grant-awarded-for-exploration-project-9rm6o9c8cxp1ufb.html

18.25m @22g/t gold at Rudall

Blimey. Take that!

Conversely, more than one reason people could be buying, particularly ahead of next week's update from Newcrest.

Hi TT - your sums look spot on based on what Shaun said about the growth rate - a 43% CAGR since the last update.

10-11m oz gold equivalent looks pretty much nailed on to me too!

Hi TT

Following on from your post, these are the drilling results which had assays outstanding from the last update on 16 March. A reasonable expectation that the lab will have these back with Newcrest and Greatland by next week:

1. HAD087W1 - total depth 1,603m
2. HAD098W9 from 1589-1666m
3. HAD133W10 total depth 1,483m
4. HAD134W2 total depth 1,774m
5. HAD152W6 total depth 1,846m
6. HAD161 W1 total depth 1,618m
7. HAD171 total depth 1,809m
8. HAD172 total depth 1,543m
9. HAD172W1 total depth 1,522m

Reporting Criteria (March results):

Intercepts reported are downhole drill width (not true width) Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Average grades are based on length-weighting of samples grade, and only those intercepts with average grades above 0.5g/t Au are reported. Also highlighted are high grade intervals of Au >1.0ppm (1g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 5m, and intervals of >30g/t which are greater or equal to 30 gram metres (Au_ppm x length) are tabled.

From Newcrest's December quarterly report:

Further infill drilling has commenced to support ongoing resource assessment of the lower South East Crescent zone.
Growth drilling targeting mineralisation definition and continuity continues to show potential for resource additions
outside of the existing Indicated and Inferred Mineral Resource limits, including:

1. Extensions of the Eastern Breccia incorporating definition of identified internal higher grade zones – assay
results reported for 7 drill holes, 2 holes awaiting assays.
2. Extensions to the Northern Breccia at depth between the current Northern Breccia Resource and Eastern Breccia Resource – assay results reported for 2 drill holes, 4 holes awaiting assays.
3. Drilling to assess geophysical targets outside of the main Havieron system – 3 drill hole results reported and 2 holes awaiting assays from step-out drilling to the northwest and southeast of the Havieron system.

Some of these were reported in GGP's March update.

The initial campaign of growth programs, in the March 2023 quarter, will progress assessment of growth targets, and
ongoing resource infill of the lower South East Crescent zone, with drill programs reducing to three drill rigs over the
Western Australian wet season (now ended hopefully though the cyclone might have had some effect).

One day we will find out whether they have actually managed to find the boundaries to this system . For now Havieron just keeps giving.

To paraphrase the exchanges that have taken place this afternoon:

*****************************************************

aim999 : I have a plan.
Paddy : Really, aim999? A cunning and subtle one?
aim999 : Yes.
Paddy : As cunning as a fox who's just been appointed Professor of Cunning at Oxford University?
aim999 : Yes. It seems to me that if I spread enough doubt in shareholders’ minds I might be able to buy GGP shares at a lower SP. If I tell enough porkies I might be able to convince everyone to sell. I shall start by rubbishing all the achievements Shaun Day has made, then have a go at the SP followed by an absolute whopper that there will be no ore. Any my crowning tuurd in the waterpipe will be to tell everyone that Newmont will mothball Telfer leaving GGP up the creek without a paddle.
Paddy: Ah so you admit you’re just here to sow seeds of doubt even though you really believe in the company. You do understand you are making yourself look stupid?

Hi Dip. So sorry to hear your sad news. Take all the time you need to look after yourself and your family and don't concern yourself with GGP. We will rally together here I'm sure to make sure all essential comms are looked after though you may have to heavily edit our work when you feel able to come back!

Take care

l-a

ace - no, just had a spare hour or so free to fend off the jetlag. Getting back onto UK time is a real mare. Perth was looking great again this time - King's Park is still immaculate btw.

All Greatlanders (except Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers): “Oh, yeah! Right!”
Dip666: “Yeah! Yeah, that’s something we’d really miss if Greatland pulled out”.
Napthman: “A £400 million market cap”.
Panama: “And one of the safest jurisdictions in the world to go mining”.
VikingShrimper: “One of the lowest AISCs in the world”.
L-A: “8,000 ounces per vertical metre”.
Doublehun: “Financing in place for the 2.9m oz starter mine”.
Thedoors: “Feasibility study progressing”.
Redirons: “ASX listing this summer”.
Sureasblazes: “The highly prospective Ernest Giles tenement”.
JiffyBag: “A highly experienced team with proven ability”.
Acechaser: “The Wyloo metals strategic investment”.
Naysayers, mostly defecting: “Yeah, they certainly know how to do the business. Let’s face it; they’re the only ones who could in a place like this”.
All Greatlanders (except Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers): “And we look after indigenous people”.
Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “All right, but apart from the gold, the copper, the updates, the PFS, the Juri JV, Newcrest, the Telfer plant, the decline, the strategic presence, £400 million market cap, a safe jurisdiction, the AISC, the vertical metre ounces, the financing, the feasibility study, the ASX listing, Ernest Giles, the team and looking after the indigenous people, what has Greatland ever done for us?”
Door4left: “Brought in Shaun Day and great geologists to take us mining?”
Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “Oh, yes SD! Shut up!”

Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “So what has Greatland ever done for us?”
Paddy: “Gave us world class assets”.
Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “What?”
Mushroom Kid: “Havieron’s MRE of 6.5 million ounces of gold equivalent?”
Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “What?”
All Greatlanders loudly in unison: “The Gold!”.
Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “Oh. Yeah, yeah, they did give us that, ah, that’s true, yeah”.
Bamps: “Don’t forget the Copper!”
BottleRocket: “And the brilliant drill updates every 6 weeks”.
Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “Yeah, all right, I’ll grant you the gold, the copper and the updates - the only three things Greatland has ever done”.
Strudel: “And the PFS”.
Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “Oh, yeah, obviously the PFS. I mean the PFS goes without saying, doesn’t it? But apart from the gold, the copper, the updates and the PFS.…”
TimberTrader: “The Juri JV”.
Tiggerman: “A brilliant partner in Newcrest”.
VikingShrimper : “The nearby Telfer plant”.
Panama: “The decline”.
Aim999, Unimaginitive, itsouthere, A.rse, doyoumean lift, seriously skint and other naysayers: “Yeah, yeah, all right, fair enough”.
SpeedyMeadie: “And the strategic presence in the Paterson”.

Hi Dip - great slapdown of Rogue rader's feeble attempts to rattle shareholders.

Going back to the PFS - and it is a long way back - of 12 October 2021, the resource was based on a drilling cut off date of February 2021. Over 2 years ago. All that, based on that now infamous quote: "fraction of a fraction".

It's also worth remembering that Newcrest's and Greatland's parameters were at that time: Gold - $1,500/oz (Newcrest) and $1,750 (Greatland). Current price is $2,040. Copper was $3.30/lb NCM and $4.08/lb GGP. Current price $4.10/lb.

It's worth focussing on the history because the chronology gives us a good insight of what to expect from this unique asset. GGP then of course sailed through to 6.5m oz Au equivalent in March 2022, which was consistent with Newcrest's own valuation in August 2022.

Shaun Day has mentioned a few times that we can expect to see a further compound annual growth figure of some 43% when the resource is next updated - so that would bring the resource figure to some 10m oz for the 16 months that have followed since the drilling cut off in December 2021. That equates to 3m oz for GGP's share.

Once we get the DTM it would not be unreasonable to see at least a 15 year life of mine plan - so some 200,000 oz pa of production starting in 2024. Based on the current gold price of over $2,000/oz and an estimated (high for prudence) AISC figure of say $800/oz that would give a minimum of $200m annual profit to Greatland.

I know it sounds ludicrous when compared to the current market cap of some £400m ($500m USD). No wonder SD says he has to scratch his head when he looks at the share price.

That's why you were right Dip to bring Rogue rader to task - good job mate.

Hi Jiffy - concise summary covering most options. What it all amounts to is: "GGP IS IN PLAY"

Doyouevenlift- do you even bother to read the RNS's or listen to interviews or go to Town Hall meetings to confront Shaun Day with your little theories?

I guess not as all you've got is the SP situation which you and your ilk are plugging ad nauseum.

There is always email if you can't be bothered to do anything. But then again that won't appeal to you, not holding any shares. Why not jog on and do us all a favour?