Member Info for magictrades

A lovely early Xmas present with not only the rise in SP but the Juri JV results. Encouraging early exploration works in the Paterson and Black Hills. The EM survey will help in better targeting and understanding the subsurface. I agree with the interpretation made in the announcement that they have intercepted the distal part of a potential mineralized system at Black Hills. The geochemistry of Bi-Te-Cu-Ag leans more toward a distal intrusion related deposit than any other style of mineralization and can be good pathfinders for gold. The hematite alteration is reminiscent of early drilling done by Newcrest for Havieron and the additional Pb-Zn anomalism reported is a feature that is observed in distal skarns to porphyry deposits but also veins on the margins of intrusion related gold deposits. I like how its similar in both style and composition to the Telfer reef veins. Another similarity is the reference to structure and the NW-SE orientation they allude to. I'll need to re-read some notes but Telfer has a structural component to it because it is hosted in a doubly plunging anticline and I think the veins follow the trend of what geologists call "cleavage" - i.e the way the rocks break. The key will be not only determining which way the veins are plunging but then testing their density. Another positive is that the mineralization is much shallower.

Hematite-albite alteration at the Paterson Range East is also pretty distal. At Goliath they appears to have found more intrusive rocks than in other places. It's yet to be seen how they relate but the presence of magnetite suggests they are oxidizing. 1m @ 1.49 g.t Au is not anything to start going crazy about but shows some gold at depth and I think the plan should be to extend the hole to depth when they get to it. For now Black Hills has the better data and appears like the priority.

So pretty happy. I wish everyone a good Xmas

From my understanding, the value of the 5% will be independent of the share price and will be done based on the data available on the Havieron resource, gold price and the exploration targets around Havieron. The latter will be difficult to place a value on but given we are due to hear about these in the near future, I'm hoping that they have seen something in those that has prompted this decision.

In terms of an organised short on GGP, I don't know if that's the case or have any proof that happens or the price being manipulated etc. I have no idea if that's a reason the SP has dived this year as much as it has. However if I were a betting man as to who might do that, NCM would make sense if they were looking for a takeout bid. Sean alludes to the risk of a takeout bid at these levels. Of course as shareholders we'd get final say so on any offer so if it was poor we'd reject it but I suppose it would lower the amount required to get the majority to vote yes. Anyway, I don't really speculate on these things. The main thing is we're going to get a decent chunk of change for the 5% and given that has boosted us by ~15% today, what's the MRE 2.0 going to do?

Great transcript there Dip, I saw it earlier and it got drowned out so I'm pleased you put it on this thread as it's a great summary

Nice little piece there

The key point from me is that by asking those questions below or even some others that you can think of, everyone can make a decision on what to do. Then for those who like me are choosing to stay, we can now make a plan of action here. The biggest lesson i've learned this year is that it is crucial to have a plan for every investment/trade you make. I'm not kidding myself in that i'm probably a little more emotionally invested here than my other stocks, but I'm quite comfortable seeing this story out so if it were to go pear shaped (which I don't think it will), i'd be comfortable with the amount I lose. I think by imagining that situation and thinking about risk first, you can take a lot of stress out the market

Thanks for the kind words everyone. Also thanks Pete for bringing attention to those that have actually done ok. The only one I knew was Great Bear since they were taken out by Kinross. I spoke from my own observation of the AIM and LSE markets and I could not find one stock (maybe aside for Cora Gold) that has outperformed this year, especially in the gold sector. I don't tend to look too much at the TSX or ASX. I do think in general as JB says, mining has been a poor sector overall this year especially in the UK. Of course I hope 2022 will be alot more profitable for all of us

By opening LSE today and seeing over 400 messages on the board and some of the titles I can sense a lot of angst. To be honest for good reason, the share price stinks. I'm not going to pretend to be happy about it or say its great value or spin it in any other way, no call a spade a spade - the share price is w***. I would suspect at least 60% of this board are in the mud and stuck in quite bad in many cases. Even those who got in at 10-12p are now essentially breakeven. Those that were in long before below 10p have seen thousands disappear this year to market (assuming nobody sold anything). So absolutely nobody that is long here, will be happy with the performance this year.

I've been doing some of my own reflecting on the company, my investment and the situation. To be clear, I think GGP has the best gold deposit on the AIM market. With the additional exploration targets too, I think GGP is in the top 5% of junior miners in terms of quality on the market. However I think it's important to understand a good company doesn't necessarily make a good stock and the truth is absolutely NO commodity stock this year has been a good stock. We're here to make money, if we're not doing that something is wrong. More times than not, it's our decision making, our risk management, our emotions that are the issue.

I've mentioned before about the lassonde curve and that I believe we are between the two peaks. Havieron's hype is finished, that caused the 1st peak. The ride up the 2nd peak will be in the next few years, developing the mine and benefiting from its production. GGP is no longer a trade as it was the past year or two. If you're looking for big 200% gains in a matter of days, you won't find it here. Based on all of this, here are some thoughts/question to ask yourself to decide what to do next.

1. Do I understand what Havieron is, the timescales involved and the exploration targets GGP has?
2. Am I a trader or an investor? - Basically how long am I willing to be here for?
3. If I am a trader, where is my stop loss?
4. What is the maximum loss I am willing to take?
5. Do I trust the board of directors to deliver the plan they have?

I think these 5 questions will help alot. For example, if you are a trader who bought above 20p, you should have sold a long time ago. Conversely, if you are an investor, the maximum you are willing to lose defines your stop loss essentially. Absolutely everybody here is in their own situation. But now is the time to decide what to do. If you have to sell because the loss is too much to handle, then do it because mentally its not worth the stress. If you have to sell because you don't want to be here for 2 years or more, then do it because this isn't the share for you. However if you are here for the longer term, then good because the strong hands will forge the bottom from which this will hopefully take off from

Here we go with your 3-6 posts '1 month old dodge account' you won't last long here, believe me.... Spreading FUD - fear uncertainty and doubt - over the bulk underground, because that's essentially the only unknown left that such disingenuous posts can target.

Last year we had months and months of tecnhical FUD with the GreenTool and others - who said Havieron would never be economic... but here we are 12 months later with a gigantic starter deposit, a $50m decline going in, and $50m GGP cash funding to DFS, and a published phase 1 mine PFS to take to the bank ... so NCM can get ore to Telfer ASAP.

You may be able to confuse and scare the un-researched with your manipulation, but you cannot touch Bamps or me.

For the rest of you MrBig is a skilled and devious operator who last night was attempting to exploit an ostensibly clever argument. The posts were subsequently removed this am. For the correct reasons.

What he/she was trying to do last night was apply NCM's conservative, underground stoping phase 1 mine operational costs @ $84/tonne - actually $81/tonne according to GGP using the correct exchange rate to Bulk Underground production.

The first Stoping operation has naturally has lower volumes, due to the inherent volume limitations of the Stoping technique and higher costs - ore transport to surface limitation, requirement for drill and blast / explosives, and extra material handling, and subsequence labour in back pasting costs )

But you cannot apply this to the anticipated Bulk under ground block caving grades of the larger scale deposit where the cost per tonne would be circa $25-27/tonne

This is a totally and fundamentally inappropriate comparison made by BiggL - It's like comparing two completely different company cost structures, AND specifically designed to imply that anything under 1.5g is likely to be 'uneconomic'...

And It's total BS becuase we ALL know that Cadia is economic down to 0.4g/t Au... specifically due the bulk efficiencies of the operational costs.

And very much like comparing and interweaving the cost structure of building Ferraris directly to Ford Fiestas -

IE both make massive profits, BUT in TOTALLY different ways . Obviously You cannot make a profit building Ford fiestas in the way you build a Ferrari though. That would be loss making.

That's the best analogy I can come up with. And that is the tactic of this poster. Always Happy to smash them into touch.

Expect Multiple shorter accounts with a very obvious agenda.s

Regarding bulk underground : The only question is will this be a block cave or a more selective sub level cave...? Anyone with mining nouse can see that.. The grade in those breccia are nothing short of sensational. And a mine in their own right.

Testing to see if I got suspended - my magic cloak appears to have shielded me XD

Here we go with your 3-6 posts '1 month old dodge account' you won't last long here, believe me.... Spreading FUD - fear uncertainty and doubt - over the bulk underground, because that's essentially the only unknown left that such disingenuous posts can target.

Last year we had months and months of tecnhical FUD with the GreenTool and others - who said Havieron would never be economic... but here we are 12 months later with a gigantic starter deposit, a $50m decline going in, and $50m GGP cash funding to DFS, and a published phase 1 mine PFS to take to the bank ... so NCM can get ore to Telfer ASAP.

You may be able to confuse and scare the un-researched with your manipulation, but you cannot touch Bamps or me.

For the rest of you MrBig is a skilled and devious operator who last night was attempting to exploit an ostensibly clever argument. The posts were subsequently removed this am. For the correct reasons.

What he/she was trying to do last night was apply NCM's conservative, underground stoping phase 1 mine operational costs @ $84/tonne - actually $81/tonne according to GGP using the correct exchange rate to Bulk Underground production.

The first Stoping operation has naturally has lower volumes, due to the inherent volume limitations of the Stoping technique and higher costs - ore transport to surface limitation, requirement for drill and blast / explosives, and extra material handling, and subsequence labour in back pasting costs )

But you cannot apply this to the anticipated Bulk under ground block caving grades of the larger scale deposit where the cost per tonne would be circa $25-27/tonne

This is a totally and fundamentally inappropriate comparison made by BiggL - It's like comparing two completely different company cost structures, AND specifically designed to imply that anything under 1.5g is likely to be 'uneconomic'...

And It's total BS becuase we ALL know that Cadia is economic down to 0.4g/t Au... specifically due the bulk efficiencies of the operational costs.

And very much like comparing and interweaving the cost structure of building Ferraris directly to Ford Fiestas -

IE both make massive profits, BUT in TOTALLY different ways . Obviously You cannot make a profit building Ford fiestas in the way you build a Ferrari though. That would be loss making.

That's the best analogy I can come up with. And that is the tactic of this poster. Always Happy to smash them into touch.

Expect Multiple shorter accounts with a very obvious agenda.s

Regarding bulk underground : The only question is will this be a block cave or a more selective sub level cave...? Anyone with mining nouse can see that.. The grade in those breccia are nothing short of sensational. And a mine in their own right.

Didn't get a chance to post earlier but I'm extremely pleased with the latest set of drill results. Everyone else has already stated the numbers and the fact we have hit our best intercept to date so I won't go over old ground. Additionally somebody shared an article ranking the top 5 gold intercepts in 2016, our newest 1200 gram metre hole would rank 4th in that list I believe. Just superb!

One of my favourite comments in the update was about the eastern breccia. The report explains it is a NW trending corridoor, with a 600m alteration footprint and contains crescent like higher grade zones developed internally to the breccia. This is giving us a clue that the eastern breccia might be a different orebody/deposit type in general. There were no confirmations of any Ni or W in the assays so the "Juri" is still out a bit there (pardon the pun). But we have heard Sean in the past describe the eastern breccia as having different geochemistry if memory serves. Without much additional information, we can only speculate what's happening down there.

There definitely appears to be a zonation to the Havieron deposit. The Cu generally decreases with depth barring a few anomalies. Gold is present throughout but the grades look like there are increasing with depth in the breccia's and are following the sulphide zone with depth too. The diorite is more visible on the plan view and is internal to the sulphide crescent, underlying the northern breccia target. This is probably why Sean calls it a "nested intrusion", the shape is like a russian doll. The diorite is not drawn on any of the cross sections in the report, which leads me to believe the diorite is at depth and underlies the deposit. Given its proximity, the diorite might be the intrusive source to Havieron. Acquiring geochemical data on the diorite should be a priority which they could spin off to a lab or university.

Overall this is super exciting to be involved in and I look forward to more to come in the future.

Magic

Hey Goldworm, I didn't have time to reply earlier but good to see a different viewpoint on the mineralization at depth. We'll have to wait and see what the intercepts say but one thing i'm looking for is if the host rocks have changed. If we're still in carbonate rich material and have more granitic intrusions, the Sn-W becomes more plausible. My big question about that then becomes, what is the relative timing to Havieron? Because my understanding is that Sn-W often forms late in the orogenesis whilst intrusion related Cu-Au is a bit earlier. If however we are out of the lamil group, we might be hitting the Rudall basement at which point these are metabasic rocks which may be a good host for things like Nickel. Otherwise to get nickel, we need ultramafics. I really enjoy these type of discussions. I don't know if you have my email but seeing as you are someone with 40yrs or so experience in economic geology, i'd love to chat theory with you at some point?

Nice reply Pete. I think an issue is that they have asked why should they "speculate" on. In my view we are past the point of speculation. That PFS establishes a baseline for what Hav and by proxy GGP is worth without factoring in any upgrades to the MRE, upgrade in indicated resources, feasibility study next year (which will provide even more information on costs, mine plan etc) or additional exploration on our other tenements. I think a lot of people are confused as to what GGP is which is creating uncertainty in the market. You have people investing for the longer term alongside traders and people looking for a multibagger in two weeks. The PFS provides the 1st step in gaining institutional support at which point the transition to becoming a producer, and the 2nd lowest cost gold producer in the world at that, will be almost complete.

Companies transitioning from explorer to producer is a narrative and catalyst that investors and in particular institutions like. Because you start generating cash flow, a measurable metric for a business. When you look at the Lassonde curve, that marks the 2nd rise to the peak, which in turn is the larger of the two moves. So if you ask me, GGP is currently in the trough between the 1st and 2nd peak of the lassonde curve. Therefore, its a fantastic investment opportunity. It's a terrible trading opportunity in my view.

This is without factoring in any exploration success. If for example we get a hit at one of the Juri Jv targets. Lets say for instance Goliath gets a 50m @ 3g/t intercept or something like that. You then have a plausible discovery hole akin to Had105. That project then follows the 1st leg of the lassonde curve. So you then have an additional driver for the company. So basically, you have the narrative of becoming a gold producer with Havieron and a 2nd narrative involving discovering a 2nd Havieron which anybody who missed the boat first time, will not want to miss the 2nd. Instead of trying to time the market, I really believe in this case its better to spend time in the market to see if this plays out. The risk/reward is asymmetrical in my view and thus worth an investment.

Took me a while to get everything in my head and processed but popped on here to see the reaction and pleased to see Paddy, Hydrogen and a few others already post similar thoughts to my own. Newcrest have delivered what they said they would and for data that is only up to February 2021. I think what's vitally important is that investors on this board, telegram and those lurking in the background read this document and understand that
1. This is really the start of the numbers and documents that Havieron will be spitting out
2. Plenty of inferred resources to be converted into indicated resources from data up to February alone
3. Numerous drill results outstanding and already reported that are not included and we know will no doubt increase the investment case

And lastly that the Ore reserves is what the pre-feasibility study economics is based off of. That is based on the indicated resource figure. The inferred + indicated resources are the 3.6Moz + Cu (or 4.2Moz Au equivalent), no gold has gone missing XD XD. Saw some early posters making this mistake mixed with the derampers so please avoid that. For me the publication of the PFS by GGP/NCM marks the beginning of a transition for GGP from junior explorer to the road to producer and that is rather exciting!

My stipend comes in soon so that'll be when I next choose to add aha

It's incredibly difficult to time the market especially on this share at the moment. When you think you've got a great price the SP tanks. But if you hold on, the next day it goes up. Averaging into the position here is probably the only viable strategy if you believe in this long term. Risk management is key at times like these and I know alot of people here with a good sum of money here so you need to what is best for your own situation. Remember, the asset and the value proposition here hasn't changed. The lower the SP goes, the better value it gets however I really would like it if we could stop dropping because its incredibly frustrating ngl.

It's clear lots of people are panic selling, stop losses being hit and possibly a few shorters. As a LTH i'm trying to remain firm in my investment and add to it where I can. The drop isn't based on any fundamental change in the asset, no placing, no director change, nothing. So it's clear the price is reacting to general market panic and nothing more in my view.

Lovely to chat with you Stu as well and your advice and tips on the strategy you have employed to great success here is a lesson for many I think. The key here are those documents and what they spell out for ii's and like you say, the re-rate once they get involved should be spectacular.

I wanted to clarify for some the meaning of this just in case it was missed in the stream or people aren't sure. Hydrothermal alteration is what happens to rocks when you subject them to fluids and precipitate new minerals due to the reaction between the rock and the fluid. In our case, the description is calc-silicate which means we are forming calcium-silicate minerals in response to the fluid. We have a lot of carbonate rocks in our area and which host our deposit which are very reactive.

Calc-silicate alteration is a very broad term encompassing a variety of minerals. In the stream, I mentioned we likely have calcite, dolomite (carbonate minerals essentially) and quartz. Whilst these are likely present and part of the alteration assemblage, it's worth expanding the mineral list because these aren't diagnostic necessarily of calc-silicate alteration. Upon further reading, some other calc-silicate alteration minerals include:
Epidote
Actinolite
Clinozoisite
Titanite
Wollastonite
Diopside

Not all of these will be present and most of these can form via metamorphic processes. However we know actinolite is present as actinolite cemented breccias. I'm not sure if this formed metamorphically or hydrothermally but I think it's a fair assumption that is what the calc-silicate alteration represents here. Therefore, I think the calc-silicate alteration is mapping the extent of the breccia's and the presence of actinolite.

Well well well, what can I say. I stayed up to nearly gone 2am chatting about the results on the stream and for good reason. They are absolutely brilliant. The 133m @ 7g/t hole is as I said in the stream good enough to be a discovery hole in itself. We have I think 27 assays pending on numerous holes too? Please correct me someone if its a bit less but we have quantity coming our way its just labs are being overrun which isn't in our control. The fact is the drills are spinning, work is being done at pace and even the decline has advanced which is great too. Probably why GH bought more shares back up to 10 million which is another great sign.

It's excellent to see drills hitting at depth (>1300m in some cases) and hitting that eastern breccia which remains elusive. The N breccia is looking consistent and looks to be underlain by a bunch of diorite which is the first indication of the igneous rocks beneath the breccia pipe that is important to the ore forming model. The attitude needs to be to keep hitting the E breccia and N breccia target zones because these will become part of the upgraded MRE.

Juri results the other week were also very promising especially at Black Hills and were a much better start than at Scallywag. We'll likely get an update on the assays from there before the next 6 week update by NCM at Havieron. Very excited about the Juri, the core photo's looked promising so just got to wait to see more of them.

Honestly, what the Sp does at the moment is immaterial because the continued growth of Havieron and drilling campaigns in the Juri JV and Scally will realise value here even if it takes more time than some might have hoped when they 1st invested. This is a super value proposition and if you know your lassonde curve, you'll know what point we're likely at and what should be coming our way over the longer term.

Magic

Colin1 - Then sell your shares because its clear you hate your investment, might be good for your mental health pal

Blindfaith - I'm sure many here share those frustrations and there's no denying that there were plenty "late to the party" and bought at a bad time. I think any hit in the prospects outside of Havieron will generate more buzz for sure. Retail investors do need to understand that multi-bagging from here is going to take much longer than before and your example of doubling might not be enough for some people. In that situation, you're going to have to invest in a much riskier, lower Mcap and less data rich asset. It's all about risk vs reward and your tolerance for that at the end of the day.

Ultimately if you have a longer term, bigger picture view of Havieron and GGP, it becomes a great value proposition over the longer term. This is not a trader's share or a pumper or a greenfields exploration stock that can multi-bag off one drill hole anymore. The value will be realised over time and thanks to the extensive drilling, the project has been significantly de-risked. So i'm a happy holder and will likely be cost-averaging over time for the eventual re-rate once institutions begin to take their piece of the Havieron pie