Member Info for lebugue-addick

Results from HAD133W9 have extended the Crescent high grade zone by a further 100 metres to over 1,000 vertical metres (3800m RL) of continuous high grade crescent style mineralisation now defined. Further drilling is planned to test the potential for high-grade resource extensions for a further vertical extension of 300m (3500m RL).

Metal Price and Exchange Rate Sensitivity Analysis

Revisiting the PFS and the assumptions briefly the actual IRR of the Project will vary significantly according to the gold and copper prices realised. Base case assumptions by Newcrest include a gold price of US$1,500/oz, copper price of US$3.30/lb, and an AUD:USD exchange rate of 0.75.

The schedule below outlines how the estimated Base Case Project IRR of 16% varies using different price assumptions:

Assumption:

Gold price (US$ per ounce) 1,200.....................5%Internal Rate of Return
Gold price (US$ per ounce) 1,500 .....................IRR16% *Newcrest chose this figure
Gold price (US$ per ounce) 1,800 .....................IRR24%
Gold price (US $ per ounce) 2,000.....................IRR 33%

Copper price (US$ per pound) 2.60 ..................IRR14%
Copper price (US$ per pound) 3.30 ...................IRR15.5% * Newcrest chose this figure
Copper price (US$ per pound) 4.00 ...................IRR17%
Copper price (US$ per pound) 4.70 ...................IRR28%

Newcrest figures in the PFS work out at a NPV of $228m based on their chosen figures. Note that Greatland went with POG $1,750 and copper price $4.08/lb for an IRR of 27% which gives an NPV of $508m. As can be seen adjusting the variables even slightly has a massive effect on the bottom line.

Since the PFS in October the assumptions have moved even further in Greatland's favour. Gold is around $1,820 currently and copper $4.20/lb making the project even more attractive.

Even the exchange rate has moved in Greatland's favour. Newcrest went with USD:AUD = 0.75. Greatland went with USD:AUD = 0.72. Today the figures are even more favourable with USD:AUD =0.695. Massive effect again on the bottom line.

Don't forget this is just the PFS. Greatland's latest MRE is for 6.5m oz equivalent with 2.9m oz gold equivalent in Probable reserves compared to the PFS of 1.6m oz plus 73kT copper. All very encouraging for later in the year when the DFS comes out.

Not surprising then to see SD tweeting. This really is a beautiful ore body. Not normally prone to this level of anticipation but all the signs are good imo. Hope the format works better than my earlier post.

Apologies - I will reformat later - limitations of LSE site sadly. Off out to play golf.....

Metal Price and Exchange Rate Sensitivity AnalysisRevisiting the PFS and the assumptions briefly the actual IRR of the Project will vary significantly according to the gold and copper prices realised. Base case assumptions by Newcrest include a gold price of US$1,500/oz, copper price of US$3.30/lb, and an AUD:USD exchange rate of 0.75.The schedule below outlines how the estimated Base Case Project IRR of 16% varies using different price assumptions:Scenario AssumptionGold price (US$ per ounce) 1,200......................................................IRR 5%Gold price (US$ per ounce) 1,500 .....................................................IRR16% *Newcrest chose this figureGold price (US$ per ounce) 1,800 .....................................................IRR24%Copper price (US$ per pound) 2.60 ..................................................IRR14%Copper price (US$ per pound) 3.30 ..................................................IRR15.5% * Newcrest chose this figureCopper price (US$ per pound) 4.00 ..................................................IRR17% Newcrest figures work out at a NPV of $228m based on their chosen figures.Note that Greatland went with POG $1,750 and Copper price $4.08/lb for an IRR of 27% which gives an NPV of $508m.As can be seen adjusting the variables even slightly has a massive effect on the bottom line.Since the PFS the assumptions have moved even further in Greatland's favour. Gold is around $1,820 currently and copper $4.20/lb making the project even more attractive.Even the exchange rate has moved in Greatland's favour. Newcrest went with USD:AUD = 0.75. Greatland went with USD:AUD = 0.72. Today the figures are even more favourable with USD:AUD =0.695. Massive effect again on the bottom line.Don't forget this is just the PFS. Greatland's latest MRE is for 6.5m oz equivalent with 2.9moz Probable compared to the PFS of 1.6m oz.All very encouraging for later in the year when the DFS comes out.

I see there are a lot of empty vessels near Canvey island making a lot of noise today

See Broker Ratings tab on LSE

thedoors - thanks again for organising the Stroud event. Great to get round a table and hear about all things Greatland again from a bunch of lovely people.

If you get a chance to visit Perth Mint you will get to see the world's largest coin weighing in at 1 tonne. Measuring about 80 centimetres wide and 12 centimetres deep it is the biggest, heaviest and most valuable gold bullion coin in the world.

Now if Havieron can deliver 837 tonnes - wow that would be a thing of beauty.

https://www.perthmint.com/visit/attractions/one-tonne-gold-coin/

So there you have it from SD himself - 3 mines potentially:

"But there are also the bulk mine opportunities and when I look at this mine, I actually see two block caves
potentially forming, you know, one centred around that new Eastern Breccia and then potentially a second
around the Northern Breccia.
- So, there are potentially three mining areas within this one mine, it’s a beast of an ore body and the
continued growth of it as we continue to drill it is terribly exciting".

It's a BEAST - his words not mine!

5% - "Closer to the end of the process rather than the beginning"

Geology rocks! (for watchers of the Big Bang Theory!)

With drilling results expected tomorrow morning it's worth a reminder to read what Shaun Day commented after the last results in April:

"The early results from the 2022 growth drilling programme are tremendous with high grade mineralised extensions identified across all tested target zones.

Whilst growth drilling at the Eastern Breccia continues to define the mineralised footprint and extensions of the Breccia, a new high grade intercept has reinforced the potential for the Eastern Breccia corridor to host Crescent style high grade mineralisation. This demonstrates the ongoing potential for the expansion of the Havieron footprint below and adjacent to the existing mineralisation.

With ongoing drilling focusing on growth there is substantial potential to further demonstrate the depths and extents of the high-grade mineralisation, that remain open along strike and at depth at Havieron."

6 holes were outstanding from the 28 April update which hopefully will be reported tomorrow (HAD55W4, HAD55W5, HAD133W9, HAD153, HAD154 and HAD155):

* South East Crescent Deeps - two holes awaiting assays.

* Eastern Breccia - two holes awaiting assays; and

* First pass drill testing of geophysical targets outboard of the Havieron system - two drill holes pending from step out drilling north and south of the Havieron system.

There are now seven rigs on site operating two shifts, and the number of drill holes completed is expected to increase in further updates. The JV is targeting a further 40,000m of growth drilling in the year to 30 June 2022 which has the potential to further expand the Havieron resource.

sandgrounded - please see my post at 16.55 which confirms drilling results will be this Thursday.

Torham - or Barb Streisand: "(As I was reminded (as a supposed barb)"

Great comms again from the Greatland team confirming drill results will definitely be this Thursday.

*************************************************
Hi Mike,

Thanks for your email.

Greatland will continue with the 6 weekly reporting cycle for Havieron updates. Our next update is expected to be this Thursday June 9th.

Regards

Greatland Gold
Investor Relations.

Did this extract get H banned 26 May - extract only mind you, the factual bits!

This post may be the reason:

“hydrogen
Posts: 10,660
Price: 11.05
No Opinion
Just how desperate?
Today 13:45
Oops they did it again .... O dear, O dear .....

Just as predicted (last week). 64m short hit
well It's all become rather 'unbecoming '... hasn't it?
Posts being deleted en mass and Costa Loonie being silenced...

A 2m short increase in 24 hours
You want to know who's selling?
Well Yesterday's volume was circa 8m (so they sold over 50%)

Today Ortex updated 64.21m on loan
7 days ago 53.89m
% Change 19.15 Oops!!!

Yup. A 19% increase over the past 7 days
YET the SP has moved.... wait for it: 11.75 to 11.05 a measly 5.9%
Anyone detect a case of.... 'ever diminishing' returns? OR being well into the 'danger zone'.?

Nobody in their ring minds adds do much to a short at this stage in the game. They take it off ... not double down to hold the line... They are loosing their grip everyday

Days to cover...? Oops again !
Oh dear this is where it get's proper messy. It was 3.6 to cover a few days ago... now 4.13 day to cover.

4.13 days of 100% SOLID buying like crazy...

Can anyone else detect XXXXX fishy balls toasting nicely?
Melting like marshmallows on a XXXXX... It will be painless don't worry Lol

It's going to cost them a lot though.. cost them badly.... c £7m quid and counting. to buy back 64m at an average of 16p

I make that about £10.4 m

Somebody's head will probably, well, roll.
And I cannot wait to see this unwind..."

etc etc

Malva - AISC from Slide 11 of the recent GGP presentation shows $643/oz, not $1,000 which presumably you have lifted from NCM Annual report

https://greatlandgold.com/wp-content/uploads/2022/05/GGP-Investor-Presentation-May-22-vF.pdf

Hi Bamps - it was great to hear your thoughts on the interpretation of the Valmin Code. Like you I am of the mind that we need to get this 5% settled as soon as possible so we can move on, as this uncertainty is doing the share price no favours. We can discuss further at Stroud!

The Code itself presents a straitjacket for GGP as far as extracting maximum value for shareholders at this stage. It is prescriptive in some senses on what may be considered ie our Proved resources MUST be considered but leaves it open to interpretation by the assessor as to how much of our Inferred and Indicated resources may be taken into account in the valuation:

"All Ore Reserves and Mineral Resources must be considered in a Technical Assessment or Valuation. When the Reasonable Grounds Requirement has been met for a Valuation, it is generally acceptable to use all Proved and Probable Ore Reserves in the Income Approach. It may sometimes be appropriate to include other classifications, but these must, subject to the Reasonableness Test:

(a) meet the minimum reporting requirements of the ASX Listing Rules and guidance, the ASIC Regulatory Guidelines
and guidance, and the JORC Code;
(b) not include Exploration Targets that have not been converted to Production Targets;
(c) be scheduled for extraction behind Proved and Probable Ore Reserves, where practical to do so;
(d) include a statement by the Specialist that confirms the appropriateness of the Modifying Factors along with a
description of their level of certainty relative to those of a Feasibility Study or Pre-Feasibility Study; and
(e) be discounted in a manner that is commensurate with the increased uncertainty".

The other point I picked up on from a Sandeep a few months ago was his reference to "fair value" rather than "fair market value" (DIP666 may be able to find it in his detailed set of notes). This may be ok in that SB is not trying to pull a fast one in this area - it is probably just to come into line with the definition in the ASIC Regulatory Guide RG111.

As for SB's other motives, well let's just say business is business and I am expecting Newcrest to come up with a lowball offer in the region $58m to $72m - 2.9m oz x $4-500/oz x 5%.

https://www.valmin.org/docs/VALMIN_Code_2015_final.pdf Section 8

Hi Bamps - what is your estimate of the allowable resources from the Valmin code which the arbiter might take into account for the 5% valuation? Clearly all of the Probable reserve of 2.4m oz gold and 0.5 m oz gold equivalent from the copper is in the bag one would hope. But how much of the remaining 3.6m oz gold equivalent from the Inferred and Indicated categories might be eligible do you think?

Cheers l-a

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

"Probable mineable reserves have risen from 1.6m Oz au to 2.4moz
Cu 73kt to 109kt
From the PFS to Ggp MRE

50% increase in mineable probable ore reserves can be valued in the Valmin code".

Insitu in the ground resources in Ggp MRE
Indicated 0.7moz and 37kt cu
Inferred 2.4moz and 72kt

Rotherby - Absolutely. Western Australia Day is a public holiday celebrated on the first Monday in June each year to commemorate the founding of the Swan River Colony in 1829.