Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
SaS - good idea. And RIP Shane MacGowan. Only 65.
WetWipes comes in for 24 posts in a day after opening an account a few days earlier - the revolving door of idiots we have seen over the last 2 years continues. They come, they go and always forgotten. Research is key to this share and WW has done none otherwise he wouldn't be asking such stupid questions. Yawn - moving on to the green bin you go.....................
The current production profile in the RNS of 3 March 2022 is to process 3mtpa within an overall mining plan of 25mt at average grades throughout the 11 year plan at 3g/t gold and 0.44% copper.
The market is not expecting any departure from the 3mtpa profile in the mining plan though the gold grades in the early years may well be slightly higher than 3g/t. Let's assume 3.5g/t in Year 1.
First full Year: 3mtpa x 3.5g/t/31.1 = 338,000 ounces gold
Greatland's share = 30% x 338,000 oz = 101,600 oz gold (excludes copper)
Assuming high AISC of $1,000/oz and POG of $2,000/oz and we could be talking $100m or £80m profit in first full year (excluding the copper), which I am now assuming will be late 2024 to late 2025 given the program alterations at Havieron in the RNS of 24 October 2023:
"Feasibility Study works will continue, incorporating the further hydrological drilling, data collection, and enhanced understanding of the LCA and water management requirements. Various other value enhancing workstreams continue to be progressed as part of the Feasibility Study which Greatland now expects to be completed by the September 2024 quarter given Newcrest's continued preference for the study to incorporate the understandings from development through the LCA".
As we all keep saying though, there are a lot of hoops to jump through before we get to that stage. But if negotiated successfully we will achieve eps in excess of 1p in the first full year. So the current SP would be well under-pinned.
All imo of course. An upgrade to the Reserves from 2.9m oz equivalent to 4m oz in the December quarter MRE would be a good starting point for another re-rate and maybe push us towards 15p hopefully. The Newmont factor has yet to be revealed which could affect some of the pre-conceived assumptions of course.
l-a
Culpepper - I would expect Wyloo to exercise the 10p warrants granted (352m shares) which will bring in a very handy £35.2m. Can we have less talk about a capital raise. It's less likely now given the warrants are now in the money.
In today's Proactive Investors interview Shaun re-iterated the MRE is expected "in the December quarter" ie on or before 31 December 2023.
https://www.proactiveinvestors.co.uk/companies/news/1033191/greatland-gold-kicks-off-new-drill-campaign-at-ernest-giles-1033191.html
26 disruptive posts in one day. That's why Tinners is being called out.
I mentioned earlier this afternoon that I had analysed the 80,000 metres of growth drilling that had been carried out at Havieron since the March 2022 MRE and I now attach a file which I posted on GGPChat earlier this evening.
Summary results are as follows:
Overall growth drilling results:
South East Crescent - 13 holes, 2076 gram metres, 2.9 g/t average (3.3 g/t average in March 2022 MRE)
Eastern Breccia - 31 holes, 4116 gram metres, 2.4 g/t average (1.2g/t average in March 2022 MRE)
Northern Breccia - 10 holes, 1286 gram metres, 2.4 g't average (1.1g/t average in March 2022 MRE)
North West pod - 1 hole, 369 gram metres, 7.1 g/t average (Nil in 2022 MRE)
For more detailed analysis please refer to the attached file:
https://www.ggpchat.co.uk/viewtopic.php?t=835
Some spectacular results at the Eastern Breccia which was the main focus of the growth drilling. I am expecting a big upgrade in the number of ounces there when the MRE is announced (only 0.6m oz equivalent there last March)
l-a
Hi zoros - I have just seen your post on Havieron from last night. Just a quickie reply now but will respond more fully later. I just wanted to give you some good news on infill drilling versus growth drilling. Contrary to impressions, GGP actually did more growth drilling than infill drilling in the period since the 3 March 2022 MRE. I analysed all the growth drilling results reported in RNS's since those that contributed to the last MRE update and presented my findings to the last meeting of the Stroud Gang meeting last month with accompanying spreadsheets. In total there were 55 new growth drill holes and the grades in the Eastern Breccia and Northern Breccia were roughly double those reported in the March 2022 MRE. Those in the South East Crescent were broadly similar to those in the last MRE.
Hope that will do for starters.
Best
l-a
JKW - You say "no way would they come onboard for say the potential of a 25p share pay day buyout!!!!"
Well you may have overlooked the very generous options totalling 235,000,000 shares granted to the four Directors - Mark Barnaba, Elizabeth Gaines, Paul Hallam and Jimmy Wilson. Exercise price 11.9p. So if the SP reaches 21.9p that would be a total of £23.5m between them less tax. Not bad if you can get it.
Hi Bamps
There are a lot of new investors in Greatland in recent months judging by the number of new usernames appearing. For their benefit do you think it would be a good time to re-post/refresh your calculations on the number of ounces we might expect Havieron to yield over the long term.
I seem to recall you thought in 2022 there might be around 10m oz in the top ovoid and around 19m oz in the lower ovoid based on a 0.75g/t average.
Thanks. l-a
Red - Tasmanian assets fell right down the pecking order with GGP focussing on the Paterson and Ernest Giles. It might have been 10 years before GGP had sufficient funds to do anything in Tasmania and would have had trouble hanging on to the licences. This is a far better outcome and there is always the fallback of a royalty stream if F lynn are successful.
greatland was paid a$100,000 by ***** gold (satisfied by the issue of ***** gold shares) in respect of the option which was exercisable no later than 30 june 2023. ***** gold has now exercised the option to purchase the tasmanian tenements.
the consideration for the purchase consists of:
(a) initial consideration: a$200,000 to be satisfied by the issue of two million (2,000,000) ***** gold shares at a deemed issue price of a$0.10 per ***** gold share; and
(b) deferred consideration:
(i) a$500,000 upon the definition of a jorc-compliant mineral resource of at least 500,000 ounces of gold in aggregate within one or both of the tasmanian tenements (payable in cash or ***** gold shares, at ***** gold's election);
(ii) a$500,000 upon the issue of a permit to mine by mineral resources tasmania in respect of any part of the tasmanian tenements (payable in cash or ***** gold shares, at ***** gold's election); and
(iii) a 1% net smelter royalty payable to greatland in respect of any production from the tasmanian tenements.
tasmania - non core assets:
"we are pleased that ***** gold has exercised its option to purchase the firetower and warrentinna tenements. ***** gold is a local tasmanian operator and is seeking to accelerate the advancement of these exploration projects.
this transaction provides for greatland to realise immediate value from these tenements which are outside of our core focus locations while maintaining ongoing exposure to the upside potential of this prospective ground. this is a particularly pleasing outcome at a time that greatland is accelerating its exploration efforts within the paterson province."
Shaun quote 11 August - "Although that 80,000 additional metres constitutes about 35% increase in the drilling at Havieron, one shouldn’t necessarily expect a direct correlation between the metres drilled and that advancement".
Culpepper @11.01am - I note what you say about a 50% increase in the MRE but this is what Shaun actually said in an interview 11 August: "* What can we expect to be in that updated resource?
- It will reflect the 80,000m drilled, people should understand that does take a lot of time to incorporate that and remember that program was only completed in June
- Although that 80,000 additional metres constitutes about 35% increase in the drilling at Havieron, one shouldn’t necessarily expect a direct correlation between the metres drilled and that advancement
- For a couple of reasons it’s never directly correlated but also remember a lot of this drilling is deeper so a lot more of those metres has just been getting down to the ore body
- Albeit in a positive sense I think when you reflect on the drilling we’ve undertaken and the intercepts that’s produced over the last 12, even 18 months I think there should also be some sense of optimism as well
- We think it will be a good update and we’ll share that once that work is done and we understand that in a more thorough way".
https://www.ggpchat.co.uk/viewtopic.php?t=765
The 50% comment comes from an increase in the tonnage from 2mtpa to 3mtpa. Two different things.
Next week ie w/c 6 November
TT - I exchanged emails with Shaun last week on when we might expect to see the annual financial statements. He said they will be released next week.
So an AGM pre Christmas is definitely a strong possibility.
MH01 - I should have added increased ounces per vertical metre following 80,000m growth drilling. Will do so next time
Midas - your post reminded me I have not posted the Future Catalysts message in a while, so here it is. Please add suggestions:
Updated list:
1. ASX listing - probably 2024
2. Feasibility study
3. Decision to mine
4. Updated MRE - Greatland's own one in December 2023 quarter as Newcrest couldn't be @rsed to do it in August!
5. More Reserves - these can be taken onto the balance sheet
6. Low AISC
7. Valuation of gold - Newcrest updated MRE 17 August 2022 used an economic assumption $1,300/oz for gold. It's now 50+% higher.
8. First gold - Earning cash 2025 (or late next year)
9. Free cash flow end 2025
10. If Newmont divest Telfer and 70% Haverion, and GGP buy them.
11. MRE of 2.9Moz @ 3.0g/t AuEq high-grade Reserve could lift to 9Moz according to Sprott on infill and roots - a few years down track but identified as very plausible.
12. Again according to Sprott's April report, Reserve increases could support elevated 6-9Mtpa for long-life Tier 1 asset.
13. And again from Sprott: Potential 6Moz caveable material adds optionality above this - a little further down stream but nevertheless a massive catalyst.
14. Use of Telfer mill for Havieron (and further downstream hopefully the Rio JV ore from Patterson South)
15. The existing Greatland team and support partners should not be under-estimated. That's probably how they got the Rio JV off the ground.
16. Drilling at EG 2024.
17. JV strikes - Juri and/or Rio
18. Scallywag strikes
19. Fully funded through to production - a reiteration
20. Jurisdiction - Australia is the best jurisdiction in the world right now to find more mineralisation - what has GGP got up its sleeve?
21. M&A activity - a value enhancing acquisition?
TT - if everyone filtered or reported Dobbs he/she would have no forum to express his/her disgusting views. I stopped posting here because of people like him/her and now prefer other forums. Disgusting behaviour - why don't LSE ban him/her again?