Member Info for lebugue-addick

I was very surprised Elizabeth Gaines only received 80% of the vote for her re-election whereas everyone else got over 90%.

On the other hand only 36% bothered to vote which is a shame after last year's big push.

Agree with sentiments, well done Dip doing what you do best - keeping investors informed.

It's what we all want to hear.

Philbrim - you placed a bet here? Hmmm, sounds a bit empty to me. Presumably you had done some background research first though otherwise you may as well have placed a bet on the 2.30 at Ascot?

I agree with what you say about some of the inane drivel on this board though. Sadly it's much like that on other boards. Why it has to be anonymous is a head scratcher though.

I doubt anyone would risk their reputation on a falsehood. The following is an extract from the recent RNS:

Competent Person Statement

The technical information in this report that relates to the Pitfield Project has been compiled by Mr Andrew Faragher, an employee of Eclipse Exploration Pty Ltd, a wholly owned subsidiary of Empire. Mr Faragher is a Member of the Australian Institute of Mining and Metallurgy. Mr Faragher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Faragher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

A 0.2p maiden dividend will only cost c. £10m out of the profits. I have earmarked 2026/27 as the first payment, payable in November 2027, but we will see.

SaS - good idea. And RIP Shane MacGowan. Only 65.

WetWipes comes in for 24 posts in a day after opening an account a few days earlier - the revolving door of idiots we have seen over the last 2 years continues. They come, they go and always forgotten. Research is key to this share and WW has done none otherwise he wouldn't be asking such stupid questions. Yawn - moving on to the green bin you go.....................

The current production profile in the RNS of 3 March 2022 is to process 3mtpa within an overall mining plan of 25mt at average grades throughout the 11 year plan at 3g/t gold and 0.44% copper.

The market is not expecting any departure from the 3mtpa profile in the mining plan though the gold grades in the early years may well be slightly higher than 3g/t. Let's assume 3.5g/t in Year 1.

First full Year: 3mtpa x 3.5g/t/31.1 = 338,000 ounces gold

Greatland's share = 30% x 338,000 oz = 101,600 oz gold (excludes copper)

Assuming high AISC of $1,000/oz and POG of $2,000/oz and we could be talking $100m or £80m profit in first full year (excluding the copper), which I am now assuming will be late 2024 to late 2025 given the program alterations at Havieron in the RNS of 24 October 2023:

"Feasibility Study works will continue, incorporating the further hydrological drilling, data collection, and enhanced understanding of the LCA and water management requirements. Various other value enhancing workstreams continue to be progressed as part of the Feasibility Study which Greatland now expects to be completed by the September 2024 quarter given Newcrest's continued preference for the study to incorporate the understandings from development through the LCA".

As we all keep saying though, there are a lot of hoops to jump through before we get to that stage. But if negotiated successfully we will achieve eps in excess of 1p in the first full year. So the current SP would be well under-pinned.

All imo of course. An upgrade to the Reserves from 2.9m oz equivalent to 4m oz in the December quarter MRE would be a good starting point for another re-rate and maybe push us towards 15p hopefully. The Newmont factor has yet to be revealed which could affect some of the pre-conceived assumptions of course.

l-a

Culpepper - I would expect Wyloo to exercise the 10p warrants granted (352m shares) which will bring in a very handy £35.2m. Can we have less talk about a capital raise. It's less likely now given the warrants are now in the money.

In today's Proactive Investors interview Shaun re-iterated the MRE is expected "in the December quarter" ie on or before 31 December 2023.

https://www.proactiveinvestors.co.uk/companies/news/1033191/greatland-gold-kicks-off-new-drill-campaign-at-ernest-giles-1033191.html

26 disruptive posts in one day. That's why Tinners is being called out.

I mentioned earlier this afternoon that I had analysed the 80,000 metres of growth drilling that had been carried out at Havieron since the March 2022 MRE and I now attach a file which I posted on GGPChat earlier this evening.

Summary results are as follows:

Overall growth drilling results:

South East Crescent - 13 holes, 2076 gram metres, 2.9 g/t average (3.3 g/t average in March 2022 MRE)

Eastern Breccia - 31 holes, 4116 gram metres, 2.4 g/t average (1.2g/t average in March 2022 MRE)

Northern Breccia - 10 holes, 1286 gram metres, 2.4 g't average (1.1g/t average in March 2022 MRE)

North West pod - 1 hole, 369 gram metres, 7.1 g/t average (Nil in 2022 MRE)

For more detailed analysis please refer to the attached file:

https://www.ggpchat.co.uk/viewtopic.php?t=835

Some spectacular results at the Eastern Breccia which was the main focus of the growth drilling. I am expecting a big upgrade in the number of ounces there when the MRE is announced (only 0.6m oz equivalent there last March)

l-a

Hi zoros - I have just seen your post on Havieron from last night. Just a quickie reply now but will respond more fully later. I just wanted to give you some good news on infill drilling versus growth drilling. Contrary to impressions, GGP actually did more growth drilling than infill drilling in the period since the 3 March 2022 MRE. I analysed all the growth drilling results reported in RNS's since those that contributed to the last MRE update and presented my findings to the last meeting of the Stroud Gang meeting last month with accompanying spreadsheets. In total there were 55 new growth drill holes and the grades in the Eastern Breccia and Northern Breccia were roughly double those reported in the March 2022 MRE. Those in the South East Crescent were broadly similar to those in the last MRE.

Hope that will do for starters.

Best

l-a

JKW - You say "no way would they come onboard for say the potential of a 25p share pay day buyout!!!!"

Well you may have overlooked the very generous options totalling 235,000,000 shares granted to the four Directors - Mark Barnaba, Elizabeth Gaines, Paul Hallam and Jimmy Wilson. Exercise price 11.9p. So if the SP reaches 21.9p that would be a total of £23.5m between them less tax. Not bad if you can get it.

Hi Bamps

There are a lot of new investors in Greatland in recent months judging by the number of new usernames appearing. For their benefit do you think it would be a good time to re-post/refresh your calculations on the number of ounces we might expect Havieron to yield over the long term.

I seem to recall you thought in 2022 there might be around 10m oz in the top ovoid and around 19m oz in the lower ovoid based on a 0.75g/t average.

Thanks. l-a

Red - Tasmanian assets fell right down the pecking order with GGP focussing on the Paterson and Ernest Giles. It might have been 10 years before GGP had sufficient funds to do anything in Tasmania and would have had trouble hanging on to the licences. This is a far better outcome and there is always the fallback of a royalty stream if F lynn are successful.

greatland was paid a$100,000 by ***** gold (satisfied by the issue of ***** gold shares) in respect of the option which was exercisable no later than 30 june 2023. ***** gold has now exercised the option to purchase the tasmanian tenements.

the consideration for the purchase consists of:

(a) initial consideration: a$200,000 to be satisfied by the issue of two million (2,000,000) ***** gold shares at a deemed issue price of a$0.10 per ***** gold share; and

(b) deferred consideration:

(i) a$500,000 upon the definition of a jorc-compliant mineral resource of at least 500,000 ounces of gold in aggregate within one or both of the tasmanian tenements (payable in cash or ***** gold shares, at ***** gold's election);

(ii) a$500,000 upon the issue of a permit to mine by mineral resources tasmania in respect of any part of the tasmanian tenements (payable in cash or ***** gold shares, at ***** gold's election); and

(iii) a 1% net smelter royalty payable to greatland in respect of any production from the tasmanian tenements.

tasmania - non core assets:

"we are pleased that ***** gold has exercised its option to purchase the firetower and warrentinna tenements. ***** gold is a local tasmanian operator and is seeking to accelerate the advancement of these exploration projects.

this transaction provides for greatland to realise immediate value from these tenements which are outside of our core focus locations while maintaining ongoing exposure to the upside potential of this prospective ground. this is a particularly pleasing outcome at a time that greatland is accelerating its exploration efforts within the paterson province."

Shaun quote 11 August - "Although that 80,000 additional metres constitutes about 35% increase in the drilling at Havieron, one shouldn’t necessarily expect a direct correlation between the metres drilled and that advancement".

Culpepper @11.01am - I note what you say about a 50% increase in the MRE but this is what Shaun actually said in an interview 11 August: "* What can we expect to be in that updated resource?

- It will reflect the 80,000m drilled, people should understand that does take a lot of time to incorporate that and remember that program was only completed in June

- Although that 80,000 additional metres constitutes about 35% increase in the drilling at Havieron, one shouldn’t necessarily expect a direct correlation between the metres drilled and that advancement

- For a couple of reasons it’s never directly correlated but also remember a lot of this drilling is deeper so a lot more of those metres has just been getting down to the ore body

- Albeit in a positive sense I think when you reflect on the drilling we’ve undertaken and the intercepts that’s produced over the last 12, even 18 months I think there should also be some sense of optimism as well

- We think it will be a good update and we’ll share that once that work is done and we understand that in a more thorough way".

https://www.ggpchat.co.uk/viewtopic.php?t=765

The 50% comment comes from an increase in the tonnage from 2mtpa to 3mtpa. Two different things.