Member Info for lebugue-addick

Extra vigilance needed for Fool's Day. You never know when the next fool will appear.

mushroom - you have a great way with words and humour, as I witnessed at the recent Stroud event, so keep 'em coming.

"Attacker tries to get round you? Throw in a plomb reverse shomb. Still coming at you? Call in the anti shomb defence system. Job done."

All done with aplomb.

I was going to go on and remind everyone that the dip into the 12's made us look very cheap, particularly since the MRE2 landed 4 weeks ago, where the assumed prices were $1,450/oz for gold and $3.23/lb for copper. What are they now - Gold $1,923 and copper $4.72. But don't think I'll bother now!

Member since today has an awful lot to say for himself - 11 posts. Be careful you don't get recycled. Funny it turns up on the same day as LaurenLouise2 - are they getting desperate and sending in quantity not quality?

Cappylee - it's quite possible we see 13 week updates going forward according to SB. Maybe SD should have a quiet word in his ear.

Sojourner - the MRE2 on 3 March was a game changer in the negotiations for GGP in my opinion because it effectively said to SB that SD can no longer agree to the 5% sale on the basis of results which are a year out of date. SD knows this and MRE2 presents SB with a headache. SD also knows that if this does indeed go to arbitration, if SB is unwilling to budge, then the arbitrator is more likely to come down on the side of GGP as the figures are more up to date and therefore more realistic.

Surprising in that case that SB is not bringing forward his own MRE in advance of 30 June year end results, due for release around mid-August. An interesting tussle is going on...

Could be they were miles apart to begin with, say NCM £100m, GGP £150m.

Now if both companies agree to compromise a little, say 10 %, then it becomes quite close to the 20% target for doing a deal at NCM 110m, GGP 135m.

Obviously we don't know the actual figures they are discussing but what this shows is that the companies could be 50% adrift at the outset but with a bit of give and take could actually get quite close to a deal.

But maybe they were more than 50% adrift in the first place, particularly after MRE2 on 3 March, which is why it is taking longer than expected to reach agreement.

Bamps - when I saw the subject headline I thought it was co-ordinated instruction to vent annoyance at the 3+ stooges!

But even better than that if the vent is indeed finished and lined.

Keep up the excellent work.

GLA l-a

kjgood - if you look at it from a very high level perspective you will have seen that Bamps updated his calculations on the ore at Havieron and upped his tonnage from 900 million tons to 1.2billion tons based on the latest drilling results.

Applying a very conservative 0.75g/t to this gives us some 29million ounces.

GGP share at 25% is 7.2 million ounces. Using an AISC as high as $800/oz still leaves $1,000/oz for GGP share.

That is a staggering $7.2 billion over say 30 year mine life, so around $240 million to GGP each year.

So we can quite easily absorb some of the costs which petejh talked about earlier (he didn't say where he dreamed his figures up from, just plucked from thin air as far as I could see).

And remember these figures are more than likely very conservative - and certainly justify the current market cap of some £560m.

This is how I sleep easily at night. Topped up again today when the price slipped under 14p and will continue to do so.

Good luck with your investment.

From Dip666 record of what SD said:

Q. "Please be explicit, is the 5% FMV to be calculated exclusively on the PFS and JORC resources on which that was constructed?
A. No, not exclusively on the PFS, the valuation date is effectively 15/12/2021 and we updated out R&R for 05/12/2021
- Reason for 5th of December is that was the date of last output of assays so effectively the last information we had prior to the 15th of December
- We want to recognise that additional value and again people should understand that the reason we took the energy, time and effort to create that R&R was to understand the value better
- Our preference wasn’t necessarily to announce it but always felt it was going to be a very material increase
- Proved to be the case with over 50% increase in resource plus over 50% increase in reserve and once you have material information, we have an obligation and a desire to share that with our SH

Catalysts for future value (or ways in which the SP could grow - my take only!)

I loved this extract from SD:

"everything talked about so far has been about the SE Crescent which is the highest grade part of the mine but when you look at the overall volume of that zonation, some 4/5ths of this is still ahead of us together with the growth in the SE Crescent
- Really encouraged by this joining of the Northern Breccia and NW Pod creating this northern structure of relatively HG material, not as high as crescent but good grade material
-....augmented by what we see in the Eastern Breccia (EB), exciting as down on the south of it have they intercepted a 6g area and have never hit that kind of grade before outside of the SE crescent and especially over that drill width, so that’s really interesting and going to attract the drill bit.
- Is this an extension of the SE Crescent, does it enlarge and go down that way or does the EB have its own HG element which would be tremendous upside".

Womo. Yes I too liked that slide and also the following quote:

"10,000 ounces per vertical metre is absolutely eye watering. Very few mines globally would have this and an evel smaller number over such a small strike zone".

Nearly spat out my tea with reference to "as much as 4.2m ounces":

"In 2020, Greatland Gold (LSE: GGP) soared. This was partly due to the rising price of gold, yet mainly due to news that the company is sitting on a huge load of the metal. A massive amount of gold can be found in the company’s Havieron deposit, where it’s estimated that there may be as much as 4.2m ounces. This deposit is jointly owned by Newcrest Mining, a far more established gold miner that has helped fund the mining venture".

Hi Bamps. Glad everyone enjoyed meeting Shaun in person yesterday.

If you get a chance to read one post from yesterday look at the notes and slides prepared by Dip666. The one on ounces per vertical metre compared to that of October had SD waxing lyrical. Equally the slide with ore body comparisons was another notable highlight.

Bamps - appreciate your enthusiasm. Did Shaun share with you the latest slide on ounces per vertical metre (now 10,000) compared to that of October (6,500). He described it as absolutely "eye watering".

Bamps - come on then what was the key nugget of information?

Hope you had a great time!

zoros @ 14.10 - his initial answer on the 5% was unclear due to Donald interrupting, SD's coughing and poor sound quality at SD's end. So the follow up clarification from SD a few minutes later made it clear that the MRE2 would be taken into account as the cut off date for MRE2 was 2 December 2021 and Newcrest gave notice to GGP on 21 December 2021.

It is irrelevant that the RNS for MRE2 was 3 March 2022 as it is the date of drilling cut off which is the important piece of information which SD alluded to.

$130 million of course sorry

Matt James- the MRE2 update was for 6.5m ounces. 5% of that is 325,000 oz. A very conserative $400 an ounce would suggest more in the region of $130,000.

MFU - agree 100% with your assessment on the 5% and I am glad SD clarified that MRE2 is definitely in the 5% negotiations. That release on 3 March was a masterstroke and in effect gives Greatland 50% more bargaining power.

SD insisted he is well despite the coughing and it was solely due to international travel.

Today's RNS strongly infers that each party now knows the other's valuation, or range of values, of the 5%. And that was on 2 March - and another 19 days have gone by since then. Just how wide were their valuations I wonder. SD is giving the impression of someone fighting their corner strongly.