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FredDobbs @ 08.09 - if you are comfortable with what is being proposed in the RNS then you do not need the comfort blanket from what you call "highly regarded posters".
For my own part I have sought some clarification from GGP - reply awaited.
Greatland has a high quality base of UK investors and will continue to trade on the Alternative Investment Market should the ASX cross listing be successful.
"Greatland has an ambitious growth agenda".
Liking the sound of that.
Echo that; thanks Liam.
Interesting that Shaun ranks A35 higher than Pearl, but as he says it's like choosing between your 2 children - a difficult choice.
Redtrader - you seem to be talking out of your rear end. You come on with a load of assertions, what ifs and buts. So let's start talking facts, bearing in mind Newcrest is the biggest gold miner in Australia. The following are the annual gold production figures for Telfer:
1999 314,295 ounces 1.33 g/t Cost per ounce A$390
2000 176,000 ounces 1.62 g/t A$494
2001–2003 inactive
2004–05 218,000 ounces
2005–06 650,000 ounces
2006–07 627,000 ounces
2007–08 590,000 ounces
2008–09 629,108 ounces
2009–10 688,909 ounces
2010–11
2011–12
2012–13
2013–14 536,342 ounces 0.90 g/t $A1,005
2014–15 520,309 ounces na $A791
2015–16 462,461 ounces na $A967
2016–17 386,242 ounces 0.70 g/t A$1,178
2017–18 425,536 ounces 0.71 g/t A$1,262
2018–19 451,991 ounces 0.72 g/t A$1,253
2019–20 393,164 ounces 0.90 g/t A$1,281
2020–21 416,138 ounces 0.89 g/t A$1,473
2021–22 407,550 ounces 0.73 g/t A$1,388
So you will see that these sort of numbers were perfectly acceptable to the biggest gold producer in Australia for more than 20 years.
Currently we have heard from Shaun Day that he is not uncomfortable with Havieron being talked about in the 20m ounce category. So if that is true then over say a 30 year mining life we are talking about some 667,000 ounces of gold per year. Then build in a slight drop for 86% recovery rate - incidentally the best Shaun Day has seen in his career so far.
It can therefore be clearly demonstrated that Newmont would also be well satisfied with these numbers.
Excludes copper, but available on request.
LW - by your own admission you are very risk averse on this company as you almost got bitten before I understand. In issuing these statements the reputational risk of the issuer is put on the line. I hardly think you can equate the past mistakes by GCAT, at the corporate level, with this very specific comment.
ID78 - this competent person statement is not to be concerned about as the practice is commonplace throughout the industry. Far from it in fact. If you look at the Newcrest updated mineral resource estimate for NCM/GGP's Havieron project on 19 August 2022 you will see the same type of statement:
"Competent and Qualified Persons
The information in this Statement that relates to Group Mineral Resources, Ore Reserves, and associated
scientific and technical information, is based on and fairly represents information compiled by Ms J Terry. Ms
Terry is Newcrest’s Head of Mineral Resource Management and a full-time employee of Newcrest Mining
Limited. She is entitled to participate in Newcrest’s executive equity long term incentive plan, details of which
are included in Newcrest’s 2022 Remuneration Report. She is a Fellow of the Australasian Institute of Mining
and Metallurgy (AusIMM). Ms Terry has sufficient experience which is relevant to the styles of mineralisation
and types of deposits under consideration and to the activity which she is undertaking to qualify as a Competent
Person as defined in the JORC Code and as a Qualified Person under NI 43-101. Ms Terry has reviewed and
approves the disclosure of scientific and technical information contained in this document and consents to the
inclusion in this Statement of the matters based on her information in the form and context in which it appears."
https://www.newcrest.com/sites/default/files/2022-08/220819_Newcrest%202022%20Full%20Year%20Results%20-Resources%20and%20Reserves%20Statement_0.pdf
I see the broken record arrived @ 13.17 with its usual banal comment. Ignore
Tiggerman - in the interests of accurate reporting I'm sure you will know that the last MRE, that issued by Newcrest, was on 19 August 2022 just 8 months ago.
"One keeps returning to the terms of the JV and legalities as a backstop. I trust that by now the Ggp board and legal advisors have got their heads around that."
Long ago - not sure why your "by now" comment was needed.
GGP have reported on all 9 holes outstanding from the last drilling RNS I am pleased to note.
It begs the question why Newcrest failed to report some of them, instead just calling them "infill drilling" results with no numbers.
Bottle Rocket - take note if you have an interview planned with SD to explore the NCM shoddy reporting.
Hi TT
It would be nice to think that whatever Newmont now know about Havieron and the Juri JV that Greatland have had at least had some briefing behind the scenes - whether we get to know is a different matter (NDA ?)
HTH - "Hope this helps"
Well no. ID.IOT is here to get you to sell - be very wary of his games imo
" The high-grade zone now supports the current production levels for 13 months, plant availability is back on track and improving after the installation of standby power and recoveries are expected to improve with the delivery and commissioning of the new crusher and additional CIL tank capacity".
ID78 - thanks, yes recoveries 75% not 86% I had missed that.
Also worth noting: "Tonnages mined continue to average at over 400tpd from the high-grade zones and an additional bulldozer and additional excavator have been mobilised to further increase tonnages".
So we could see higher tonnages in the plan
From Monday's RNS:
"Ongoing 360tpd of high-grade material with average daily grades from 3.15g/t to 4.92g/t being processed,
· The initial mining plan has now been extended to period of 13 months of delivery of high-grade material to the milling plant."
Hence it is safe to use say 4g/t for the 13 month mining plan I would say.
Hi all - based on yesterday's RNS and today's update I have had a go at projecting what this means in terms of profit for the next 13 month period. I have plugged in some assumptions into a spreadsheet and these are the summary findings. LSE formatting does not not give me the option of posting the spreadsheet here so the following are the top level findings.
ORE PROCESSED: 360tpd gives 143,000 tonnes for 13 months
AVERAGE GRADE: Assume 4 g/t
GOLD PRODUCED: 1,400 oz/month gives 18,400 oz for 13 months
GOLD RECOVERY RATE: Assume 86% flat rate for 13 months; produces 15,820 oz for 13 months
GOLD PRICE: Assume flat rate of $1,900/oz
MONTHLY REVENUE: $2.31m leading to $30.05m for 13 months
ROYALTY COSTS: Rough estimate $70,000 p/m
AISC: Assume flat rate of $1,095/oz as previously mentioned
CUMULATIVE EBITDA: $11.8m for 13 months
TAX: Estimate 25% (need to check this)
CUMULATIVE FREE CASH FLOW: $8.8m for 13 months
COMPARISON WITH MARKET CAP: Shares in issue 1,879m; SP 0.5p = CURRENT MKT CAP £9.4m
CONCLUSION: Looks very encouraging, particularly when funding in place ($15.5m). Observations welcome - some assumptions are, by their nature, subjective.
NOTE: I have ignored Capex for this illustration
"Why has SD 'brought' on board such a high calibre team.....because Twiggy told him to?".
Lesley Hornby has changed her profession?
Berenberg raised the target SP today from 19p to 20p. For those of you who believe in this type of thing.
This is what GGP had to say on 10 May 2022 after being awarded the grant. For comparison Havieron is only some 38 sq km versus 65 sq km for Rudall:
About Rudall
The Rudall licence covers an area of approximately 65 square kilometres approximately 20km south-southeast of Greatland's Havieron gold-copper resource. The licence is considered to be prospective for Havieron and Telfer style gold/copper occurrences.
Greatland has completed geophysical modelling to enhance preliminary targets identified at the Rudall licence, including the Ramses magnetic anomaly. The modelling suggests the depth to top of the magnetic anomaly is approximately 700m below surface.
Further geophysical survey work is being planned this year to refine the Ramses anomaly before an exploration drill program is undertaken, utilising the EIS grant to co-fund the drilling component of the 2022 exploration work programme.