Member Info for lebugue-addick

It would have been 20 months in between MRE updates if SD had not stepped in today. That is not what a good trusted JV partner should be doing given the excellent 6/7 week updates. Well done SD!

What if GGP had said the same thing for the last 21 drill results. Arrogance and nose put out of joint. Love it!

As 2 HAD104 and 2 ZIP holes were outstanding from the previous drilling update 6 weeks ago it would be disappointing if the labs hadn't dealt with these by next week. But we know the labs have been struggling to get results out in a timely manner. Fingers crossed they are starting to catch up.

The current market value of our 30% share of the upgraded copper resource is worth £517million or nearly 13p a share. Staggering!

218,000 t x 2204.6lbs x ($4.77 per lb/1.33) x 30% = £517m

Getting the copper out of the ground has an additional cost of course but this is why GH and SD have always said - "don't forget the copper"!

Current exchange rate 1GBP = $1.33

From today's RNS: "Mineral Resources (including Ore Reserves) increase to 5.5M oz Au and 218kt Cu or 6.5M oz AuEq"

Copper on the rise again today - $4.77/lb

Our 5% just got bigger. Only sayin'

Prepared by Greatland and not by Newcrest. Interesting!

Don't forget the copper - price up to $4.68/lb

Good for those with a gold/copper Tier 1 mine

TT - Take a look at the schematic plan at Figure 4 (page 12/28) of the attached drill view map showing drill hole locations and significant intercepts reported and due to be reported. This will give you the physical location of the drill results outstanding. Also look at Fig 3.

https://greatlandgold.com/wp-content/uploads/2022/01/220128-GGP-Havieron-Exploration-Update-vF.pdf

In summary we are awaiting:

HAD85W5
HAD89W4
HAD104 from 1267m - 1459.8m; and 1795m - 1913.6m
HAD133W6 from 1595.4m - 1639.5m
HAD133W7
HAD145A
HAD146W1

and then at ZIP - ZIP001 and ZIP002

Lenz - there will still be a lot of outstanding drill results by 30 June if the labs are still 8 weeks behind. Even if they get all results back by 30 August and plug these into the MRE I doubt if we will see these reflected until MRE3, way too late for MRE2 which is due for release with the Newcrest full year figures (to 30 June 2022) around 19 August according to SB.

May be PIs selling - we just don't know. After 14 months of the same type of action there will different views on who's selling.

More patience yes. More news definitely. Just give us another brief update on 5% discussions and let us know formally that 19 August is the new MRE update deadline. We should have heard this information via RNS not through a presentation from our JV partner, particularly when SD expressed surprise that it was not going to be released with the Newcrest half year results. It may not be material to Newcrest but it is to Greatland.

Difficult to square SB's comments at the presentation Q&A session following Newcrest's half year results as follows. One informs the other surely and both parties should have equal/same information otherwise GGP could get shafted?

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

Stephen Henderson
"So, one could expect to see an MRE update independent of any, what could be, what could be a lengthy process, in the 5% negotiations, depending on whether agreement can be met?"

Sandeep Biswas
Yes. We, we don’t want to couple those two things. I mean, one’s project related (the MRE), the other (the 5%) is a discussion between two JV partners.

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

Thanks Matty - at least we know that Newcrest reserves the right to provide updates outside of the planned dates but given the huge work needed to update the MRE I am not holding my breath that we will hear anything before August.

FutureBuilder - maybe check your maths? Only 25p will get GGP back to a £1bn company. That is the figure coincidentally of SD's options. I'm sure your target will be reached - all imo of course.

Extract from slide 20:

"Following the delivery of the Pre-Feasibility Study on 12 October 2021, Newcrest is entitled to a 70% joint venture interest in the Havieron Project. Newcrest also has an option to acquire an additional 5% joint venture interest for
fair value, exercisable during the 12 months from 12 December 2021. In December 2021, Newcrest provided notice to Greatland Gold to begin the process under the joint venture agreement to seek to agree the option price for the additional 5%".

No mention of the mid February date slipping or any other revised date. Updated RNS anyone? Plans are changing by the minute it seems.

https://www.newcrest.com/sites/default/files/2022-02/220228_Newcrest%20BMO%20Global%20Metals%20%26%20Mining%20Conference%20-%20Presentation.pdf

With 90,000 metres of growth drilling to be carried out before 30 June there is no way that all of this will be included in the 19 August MRE given the delays in the labs and then plugging the results into the calculations.

Not what you expect from a JV partner.

sandgrounded - good man. You don't need to explain your dealings but it says a lot about you and your honesty. Hope your daughter gets the place she wants.

"not included in the JV" I should have said

I was trying to work out this morning whether Newcrest currently have a first right of refusal over those blocks within the Havieron licence not included in the tenement blocks.

Newcrest do have the Juri JV of course which covers Blackhills and Patterson Range East.

The key extract from the RNS is: "Additionally, during the Farm-in period and the term of the proposed Joint Venture, Newcrest will have a first right of refusal over those blocks within the Havieron licence (E45/4701) not included in the Tenement Blocks".

It all hinges on whether we are still in the Farm-in period or not. Stage 4 expenditure, the final stage in the Havieron JV agreement, has been met which triggered the 70% ownership clause (30% GGP) but the original agreement was for expenditure to be met over a maximum 6 year period from March 2019. Newcrest have been desperate to save Telfer so have steamed along in half the expected period.

It seems to me that Newcrest's right of first refusal over the rest of the tenements may have lapsed but I would welcome views.

https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xp4py3x

I realise the 900mt ore estimate came from Bamps a while back and he has kept to this figure for now though if we are still open at depth and on all sides there is potential for this estimate to grow hopefully.

At a time when negotiations on the 5% are continuing and clearly at a very sensitive stage i will not be sending an equivalent email. I am expecting an update RNS to be issued on the work in progress the 2 companies have been making and will await formal company news.

SD and his strong negotiating team are much closer to the action and I will put my trust in that process thanks very much.

But good luck with your lobbying.