Member Info for lebugue-addick

Rotherby - The Competent Person from SRK in the Admission document gives the valuation data you might find useful as a reference point.

Zoros - it's 1.4x accretive according to Greatland; and that's using old historic data. Once Shaun gets the keys to 100% of the farm we will really start to see the true value of Havieron and Telfer. So much has yet to be revealed. Even the price assumptions the former JV partners used were ridiculously conservative. We are almost back in control again with gold near all time highs. Looks like a perfect storm to me in elephant country. Your logic looks flawed to me.

GDXJ rebalancing day today

Next deal- number of shares makes a huge difference. Amount of cash doesn't get diluted but the number of shares reduces.

Watchstone did a 1 for x and then returned cash to investors

StarBright - 10mtpa? Not a chance. Greatland have always said they will go for early cashflow concentrating first on the upper levels. Then a few years down the line they would be expected to install a hoist. 3mtpa is the expected kickoff tonnage as per all recent communications.

Hi Dip. Yes it was me - Shaun emailed me straight back which very impressive. He is expecting to be presenting at Denver on 16th September (the forum runs from 15th to 18th I believe). He didn't say whether he would attend for the whole time so TH meet could be anywhere between 13th say through to 20th.

Also depends what other business he has over there or in London (wink emoji).

Hi Tom. Judging by the prevailing SP at the time of the trade, it looks like a sell imo. It is certainly a bit of a head scratcher but people's reasons for selling are numerous. If we get the news we hope for in the next couple of months we should see some pick up. But for now, it's more patience.

Manlord - thanks for that. Why not bump your post every 2 weeks, say, to capture new folk on here.

ATB - l-a

Try 0.88p. That's better

Catchme- please see Newmont's Reserves and Resources statement at 31 December 2023 which analyses, amongst other things, Telfer's Indicated resource.

Catchment, it's in the Newmont quarterly. More to come from Telfer

Hi Dip. I look in on TG regularly though not always posting. But yours are ones I particularly look out for. It would be a huge loss if you were to leave.

Spot on Dip. This BB could go silent now until there is something tangible to discuss. Until then e joy the summer and the Olympics

Yep. 2pm WA time

Hi TomE - take a look at nine's posting history and then consider whether he is genuine.

I like the perfect situation here that every time the gold price goes up by $100/oz Greatland's potential annual profits go up by $29m or 0.5p per share. Just for doing nothing - not a bad life!

Lseo - one way to look at it is to try and work out the value in your own mind of what 100% of Havieron and Telfer might be worth. The Reserves are currently 2.9m oz gold equivalent based on the March 2022 MRE and that is what as a minimum should be expected to be in the mining plan. That is expected to be sustainable over a 10 year life giving 290,000 oz a year. If profit is a minimum of $1,000 an ounce (POG $2300 minus AISC etc $1300 an ounce - and I have really played very cautious there) we are looking at an annual profit of in excess of $290m (£240m) on average for each of the 10 years. With 5 billion shares in issue that will give earnings per share of 4.8p. A minimum PE of 10 would suggest an SP purely based on Havieron of 48p minimum. Now what we don't know is what Telfer is worth and that is where the Greatland team will earn their corn - I won't hazard a guess on that one.

Another way to value Havieron is to take the very simplistic approach - ie that we know 5% of Havieron was estimated to be $60m when the 5% of Havieron was being negotiated with Newcrest. We also know that Greatland were prepared to offer Newcrest $85m for the 5%. So using the latter figure 100% works out at $1700m say £1350m or 27p a share.

Of course the price of gold has risen from around $1950 to 2350 in that time and copper has been strong too. That could add some 5p a share giving around 32p a share.

But as I say Telfer needs to be factored in as well as the financing package for the whole. But no matter what method you use it is hard to come to any other conclusion that 100% Havieron will be more accretive than just owning 30%. It will be fascinating to hear what value is placed on Telfer.

Just some random thoughts. Others will have their own views on the valuation. Even with some dilution I look forward in a positive way to the package negotiated.

Lseo - are you guided by passively following the SP or actively assessing the quality/quantity of the asset? It's an important difference.

Ace - Greatland's office is at 502 Hay Street and Newmont have an office at 500 Hay Street. Can't get much closer. Did you ever climb Jacob's Ladder to get up to King's Park?