Member Info for lebugue-addick

Did anyone else pick up on the Byrnecut advance (245m) which was quoted in the latest RNS as being at 1 November not 1 December. If that's not a mistake it makes the Byrnecut work look much better.

BYRNECUT ADVANCE

RNS 12 May: Commencement of decline
RNS 21 Jul: Advanced 69m
RNS 9 Sep: Advanced 120m (advanced 51m since previous update)
RNS 28 Oct: Advanced 211m (advanced 91m since previous update)
RNS 9 Dec: Advanced 245m @ 1 November

So basically it's down, down, deeper and down.

I'll get me coat!

coolfree - I challenged you to post some research earlier this week. Still waiting.

Foot tapping emoji...

But of course that is not your game is it?

To illustrate what Bamps is saying about volume increases in multiple directions the basic calculation of the volume of a regular ovoid is:

4/3 x pi x the length of the 3 axes (height x width x depth).

So if there is a 20% increase in the height, the width and the depth then there is a 72.8% increase in the overall volume.

Although we are not dealing with a regular shape in the case of Havieron the same basic principle applies.

Hence SD saying ginormous I guess!

cjmorley - give it a rest. Try contributing to researching GGP - see if you can unearth something in today's RNS that is worth discussing. That would be a start.

coolfree - maybe instead of attacking others why don't you post some quality research OF YOUR OWN on Greatland ffs. This is getting very tedious now.

The Havieron joint venture has now completed a total of 219,561m of drilling from 266 holes, with all the latest completed holes continuing to intersect mineralisation, and 19 reporting significant mineralisation. Below is a summary of the reported position since drilling commenced.

Drill results to date:

RNS 10 Dec: 128,559m drilled for 134 holes
RNS 28 Jan: 138,504m drilled for 153 holes (*announced drilling campaign 65km)
RNS 11 Mar: 154,953m drilled for 179 holes (16,449m for 26 holes since 28 Jan)
RNS 29 Apr: 158,663m drilled for 183 holes (3,710m for 4 holes since 11 March)
RNS 10 Jun: 164,420m drilled for 190 holes (5,757m for 7 holes since 29 April)
RNS 22 Jul: 184,081m drilled for 212 holes (19,661m for 22 holes since 10 June) Note: 7 reported, 15 still in lab
RNS 9 Sep: 194,456m drilled for 230 holes (10,375m for 18 holes drilled since 22 July) Note All 18 still in lab though 12 of the 15 outstanding in 22 July update were reported on 9 September. So a total of 21 holes outstanding for report in October update.
RNS 28 Oct: 210,629m drilled for 254 holes (16,173m drilled for 24 holes since 9 Sep report). A further 24 holes drilled awaiting assay for report at next update.
RNS 9 December: 219,561m drilled for 266 holes (8,932m drilled since Oct report). A further 10 drill holes have been completed and are awaiting assay.

90,000 metres of Growth Drilling targeted to 30 June 2022.

Growth drilling continues to show potential for resource additions outside of the existing Inferred Mineral Resource, including a mineralised zone 100m below and 100m to the north-west of prior high grade holes.

All drilling now focused on growth programs to continue into FY22 with 8 drill rigs operational.

SD: "We are continuing to invest in the drill bit".

BYRNECUT ADVANCE

RNS 12 May: Commencement of decline
RNS 21 Jul: Advanced 69m
RNS 9 Sep: Advanced 120m (advanced 51m since previous update)
RNS 28 Oct: Advanced 211m (advanced 91m since previous update)
RNS 9 Dec: Advanced 245m @ 1 November

Byrnecut are picking up the pace nicely, currently averaging >2m/day. Expect that rate to rise again at next update - the quarterlies in January.

An upgraded MRE will be another interim MRE I guess with others to follow once further drilling is done.

Great see a mention of conversion of inferred resource to indicated resource which continues to give even further confidence in this magnificent ore body.

How big is this thing. Not even the experts on the ground know and they have been drilling for well over 2 years.

Well done GGP and NCM

A total of 219,561m of drilling from 266 drill holes has been completed since Newcrest commenced exploration activity (excluding holes in progress, abandoned holes, or drill holes which have not been sampled).

Drilling in the reporting period was focused on potential resource growth at the South East Crescent, Northern Breccia
and Eastern Breccia, and infill drilling the South East Crescent Zone TO SUPPORT THE POTENTIAL CONVERSION OF THE INFERRED RESOURCE TO INDICATED RESOURCE. (My capitals - this is a key development as indicated resource will attract a higher cost when the 5% comes up for negotiation in the 12 months from 12 December 2021).

Drilling included:
• South East Crescent Zone Infill – assay results reported for twenty drill holes, and one hole awaiting assays.
• South East Crescent Zone Growth – assay results reported for four drill holes, one hole awaiting assays.
• Northern Breccia & North West Pod – assay results awaiting for three drill holes.
• Eastern Breccia – assay results awaiting for two drill holes.
• First pass testing of geophysical targets outboard of the Havieron system (at Havieron North and Zipa) –
assay results are awaiting for two drill holes.

....on here tonight. Looking for their 15 minutes of fame. Trouble is loss of form is temporary but Havieron class is permanent and this will be evident during 2022 imo.

Call it 20/20 vision - 20/20 excellent drill results. These results can't keep on being ignored by the market.

Best to ignore "getagrip" and "moneymaker" with their petty sniping and no analysis. They are here for one reason and one reason only - to help you lose your money. Ignore and filter is my suggestion.

So in regards to my question: "What has the Australian cricket team and Santa got in common?" the answer is:

They will both be sledging through the night! Well I tried to lighten the mood....

Reminder about the Webcast | December 8, 2021

AGENDA: (Eastern Time)
2:00 pm Dial in
2:02 pm Welcome Remarks
2:05 pm Company Spotlights
Newcrest Mining Ltd. (TSX: NCM)
Champion Iron Ltd. (TSX: CIA)
Perseus Mining Ltd. (TSX: PRU)
Macarthur Minerals Ltd. (TSXV: MMS)

3:15 pm Considering a TSX/ASX Dual Listing? - Expert Advice
3:30 pm Event concludes

Wonder if Greatland will get a mention?

@Tom E - 29 posts today and I'm still looking for the useful GGP research post that I thought must be there somewhere. But no. Instead there is sledging going on all day mostly aimed at one member with a final flourish which could be taken as bragging about your new Aston thanks to GGP. You are both invested so why not just stay on the same side and support your company. It does not need any division.

Anyway to lighten the mood - What has the Australian cricket team and Santa got in common? Any answers?

Dip666 @13.14 - "As for a potential 5% of Havieron offer, personally I can't see an offer materialising until after the FS if one does indeed materialise".

Good call. I hope it will fall into Q3/4 of CY 2022 personally because of the time it will take to prove up all these drills into meaningful resources. At the moment we have a lot of ounces that have yet to be converted to an inferred resource as a result of all the drilling. We currently have only 1.7moz "inferred" and 1.9m oz "indicated" but the cut off for drilling was February 2021 so nearly 10 months ago.

In terms of "Probable" resource this amounts to only 1.6m oz at the moment. A great start but not enough to fully negotiate the 5% on.

Companies value "inferred" resources quite a lot lower than "measured and indicated" resource and that in turn is lower than "probable" resource (we currently have only 1.6m oz in this category). We currently have absolutely nil on the "proved" resource category which would give us the highest value per ounce.

https://greatlandgold.com/wp-content/uploads/2021/10/GGP-Growth-Update-Final.pdf (Slide 25 refers)

So we will be in our strongest position to negotiate on the 5% once a lot of the drilling is converted to "indicated" and "measured"; and then onward to "proved".

Because of delays at the lab, which have been ongoing for most of the year, we are yet to see the emerging size of the giant that is Havieron. This in turn is likely to put a brake on any meaningful negotiations with Newcrest until Summer 2022 I would suggest though hopefully the upgraded MRE will be a good start to kick off very early preliminary negotiations from Feb through to June.

We must not forget the copper as well as this will be a valuable resource for bargaining.

In terms of the figures, I have seen some analysts coming up with a figure of some $200/oz for good quality "measured" gold resources in safe jurisdictions with low transport costs. "Inferred" resources on the other hand have been quoted at a quite a lot below this, so it is important to get our resources moved up the confidence chain as quickly as possible. SD has a massively important job on his hands atm.

try typing c0ckney

the key point on the 5% is that it's directly related to the amount of gold estimated and the price of gold, NOT the SP of GGP.

We built this city on sausage rolls (anyone remember ladbaby?)

Or perhaps, in Havieron's case...

We built this city on rock and gold.

Good weekend everyone.

Personally, for me the really exciting part is what happens at Stage 3 of the growth strategy outlined on slide 5 by SD in October:

https://greatlandgold.com/wp-content/uploads/2021/10/GGP-Growth-Update-Final.pdf

STAGE 3 - Maximise value phase

- Initial Eastern Breccia Inferred Resource
- Define further Northern Breccia Inferred Resources
- Define SE Crescent Measured Resource
- Decline complete

I like the term " MEASURED RESOURCE" which has greater certainty than an "INFERRED" or "INDICATED" RESOURCE.

It may be converted to a Proved Ore Reserve or under certain circumstances to a Probable Ore Reserve.

Hopefully to be delivered in Financial Year 22-23

CTC - as GGP said, they Newcrest are doing us a favour by releasing drilling reports every 6/7 weeks compared to their normal practice of providing other Newcrest reports every quarter. We have to be careful no to be too pushy on this as they may withdraw the privilege.

PS That info was just for the Institutions tab. There were also changes to the Funds buys/sells as you can peruse at your leisure