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Giving 75% of PRE for 20m is quite clever the more you think about.
All the initial exploration done at no risk!
If there are decent resources there then yes GGP have to pay 25% of ongoing costs.
This is probably possible but impossible for 100%.
It is very similar to what is happening now at Hav.
All we have saved at Hav is 25% of approx 45m BUT they knew there was a resource there.
To have an arrangement with a major player when you have not drilled at all is amazing.
This is the classic Dragon's Den connundrum isn't it?
25% of a potential vast resource with the expertise and potential facility of a major player will be vastly better than trying to do it alone and get into the Solgold mess. Trust in Gervais!
all imho
gla Matt
Looking back to March 2019 - for the Farm in agreement with Newcrest, it was Newcrest who announced it first due to the time difference on 12th March and GGP announced it the next morning. Interesting to see who bought shares prior to this date. Therefore we could hear news about Scallywag jv any night around 10.30pm!!
gla Matt
It is interesting re-reading the Oct Presentation on the website.
It said that they were drilling 4 targets at Scallywag. It seems they have done Kraken, London and Blackbeard but have not heard about any activity at Barbossa.
Also the table states that Newcrest do not qualify for the 5% option until the feasibility is done and stage 4 completed. That takes us to late 2021. So it is likely we will need more funds if they are doing alot of drilling next year. Dilution will not be great with this if share price is approx 30p. 16m shares for £5m
Perhaps GH is negotiating a JV for future drilling campaigns next year.
There are still no TR1 that have come to light.
I am not sure what to make of it all with the delay - i would have thought he could have given us a drilling update?
imho, gla Matt
I was looking at the Angry Geologists article on Winu
http://angrygeologist.blogspot.com/2020/05/winu-exciting-times-in-pilbara.html
The interesting part at the end is where he mentions Zipf's Law explained simply in the link below
https://www.youtube.com/watch?v=4dofBw9r0P4
So they think it can be applied to geology!
https://www.researchgate.net/publication/225200883_Zipf's_Law_A_Viable_Geological_Paradigm
So where does Havieron fit on the curve? There can only be one place! Twice as big as Telfer!!!
Maybe interesting if you are bored on a wet Saturday! I should really get out more!
imho, gla
Matt
If news comes at 9.30pm tomorrow night there are going to loads of people not getting much sleep and LSE will crash with activity!
On a more serious note nobody is mentioning Rudall - which is sort of first reserve on the others! Also the other area which puzzles me is that there have been no TR1s
gla Matt
I was looking at
https://geodocs.dmirs.wa.gov.au/Web/documentlist/8/ML_NUM/M45%2F1287
The proposed access corridor which is presumably the road for transporting ore is a lot longer than 45km, I reckon 70-80km. If you have not looked at this document well worth a read through.
gla Matt
The note says 'Opens with 22p', and'Hold' - this implies the drilling results are taking longer than thought, so hold with a target of 22p and then later on when the drilling and NCM results come out it may be reviewed. So what this is doing is supporting the current price.
imho, gla Matt
I have just been looking at the financial summary in the Hannan & Partners broker note in Aug. They have given expenditure and income for 2021,22, 23 &24. So they have generally GGP making a lot of money with estimates for cost of sales, earnings before tax, profit etc. It is interesting they keep the number of shares the same. In order to get these figures they must have made alot of assumptions in terms of throughput rates, tolling costs etc. Sorry I copied the note so do not have a link. Well worth a look. If anybody has the link it would be useful
gla Matt
Callum is presenting Monday at 1.40pm. Presumably he will use the same presentation as GH did . Originally SB was presenting for Newcrest I thought, from my notes, but I cannot see them on the list. Also Rio are not there but BHP are presenting. So is that telling us anything?
gla Matt
If Gervais wanted to do the presentation and Q &As the other day he would have done no matter what time night or day!
The fact is they want complete silence at the moment. Perhaps it will just be results soon or is there something more in terms of another jv. Do the 9 rigs at Hav belong to NC? Where are they going to go next? Any transport system is near Blackhills and Scally - the more sites the more likely I suppose a rail track. Exciting times I hope.
imho, gla, Matt
A question to the experts - the SVD helicopter electro-magnetic (HEM) survey is used to find sulphides and these can be found down to 400m depth. So are we saying that if this had been used at Hav the sulphides would not have been picked up. Any comments would be useful as we are awaiting our HEM survey results.
gla, Matt