Member Info for MF11

Still 73m to go….. any more mystic megs please ZOROS

Yes they must be getting scared. Another 12.57 Million on loan and can only get the SP down to 9.4p.

Are they fighting a losing battle?

Anybody notice the 16 Million plus late trade posted after hours yesterday.

Guess they were to do with the SP movement yesterday.

Dividends is always a complex and contentious issue amongst investors. Whilst I totally understand where Speedy and Jerry are coming from and am somewhat in agreement, there are other factors for companies to consider before simply pushing on for growth with no consideration for paying out dividends.

Certain individual investors, funds and instutions will only buy dividend paying stocks, therefore by not paying out a dividend you are potentially restricting your investor base, ultimately reducing demand for the stock.

Shaun has often voiced that "I am a Divi kinda guy", and has previously expressed that, in years to come, up to 50% of FCF may be set aside for dividends.

Again I'm not averse to this, as it focuses the company on disciplined growth and only selecting the right growth projects. Rather than simply striving for growth for the sake of it, and potentially investing in some of the less optimum projects.

Next Friday.

GDXJ

Index Data: 30/11/23

Announcement: 08/12/23

Implementation: 15/12/23

Https://www.proactiveinvestors.co.uk/companies/news/1034750/greatland-gold-ceo-says-panorama-nickel-find-enhances-portfolio-s-resilience-1034750.html

@Bamps - "There are large pegmatites/ lithium deposits to the north and west, also Thor have drilled and reported from Ragged Range on the east. Westar have reported lithium to the west side with pegmatite outcrops."

I do note that Thor are potentially looking to divest Ragged Range and focus on other projects.

"And … re the Sp resistance points. I recall being stuck at 12 p for eternity it seemed at the time."

Wasn't that when Beetham was offloading and encouraging everybody to buy?

No Beetham this time around!

Wow Evaporation Ponds nearly the size of the UK, I knew Havieron was big, but.....

@Telax30 - "At a 3mtpa mine, 85% recovery rate, 3.4 g/t avg grade, $800 AISC….and with $3k gold price, we’d need a P/E ratio of 70 to hit £2 sp!"

Yes, but being more of an optimist and looking at it from a growth perspective.

If we were to attain 100% of Havieron and increased processing to 7 mpta, Using a more realistic P/E of 18 (and all of your other numbers) we could attain an SP close to a double Mickey.

There £2.88 sounds pretty good to me and potentially not out of the question, and that would only incorporate the mining of less than 20% of the total ore body that could potentially mineable at Havieron.

Where you see limits, I see potential.

Obviously no guarantees which route GGP & Havieron will take, and as always DYOR.

@Jamesp21 - I assume you mean the entire thread and not just the drivel from selecta6.

Doesn't sound like a company looking to sell to it's JV partner any time soon.

https://au.linkedin.com/jobs/view/business-development-executive-at-greatland-gold-3731066582

Greatland

Greatland Gold Plc (AIM:GGP) (Greatland) is a publicly listed mining development and exploration company focused on precious and base metals in Western Australia.

Our flagship asset is our 30% joint venture interest in the world-class Havieron gold-copper project in the Paterson Province of Western Australia, discovered by Greatland and now under development in joint venture with ASX gold major, Newcrest Mining Limited (70% interest and operator). We also hold a significant portfolio of exploration projects in Western Australia.

Greatland has evolved from an exploration-focused company to an aspiring developer and producer and has assembled an outstanding Board of directors and experienced management team, working in our Subiaco office. We intend to list on the ASX next year.

This is an opportunity to join Greatland at an exciting time. Greatland has set out a growth strategy to become a multi-mine producer, and business development is a key pillar of that.

P.S Thanks Bamps - yes the first Town Hall I have missed. Having a well needed holiday in Greece. Will certainly be there for the next one.

@StarBright - What an absolute load of scaremongering blox.

SD has categorically stated he could raise funds to buy the remaining 70% of Hav & Telfer, yet you question the ability to raise funds for development of 30%. When:

We have yet to call upon any of the funds negotiated with WYLOO or the banks.

WYLOO have been continually supportive from a financial perspective.

Why do you come up with such CARP/FUD?

Well can totally speculate from this side that that deal will be categorically rejected.

Quite staggering in all reality.

A 774 page document that appears to have been written with the sole purpose of justifying Newcrest's acceptance of Newmont's offer.

Referring to the same section as @Sharketmare -

The recent negotiations between Newcrest and Greatland Gold plc (“Greatland”), which owns 30% of Havieron, can also provide some (albeit limited) evidence to value. These include announcements in:

 March 2022, that Greatland made a non-binding offer to acquire a 5% interest for $85 million (implied value of $1.7 billion for 100% of Havieron) which was not progressed;

and

 August 2022, that an independent valuer determined that the option exercise price for a 5% interest to be $60 million (implied value of $1.2 billion for 100% of Havieron). The valuation was based on information (including geological data) available at 15 December 2021. Newcrest declined to exercise the option, stating that the price “did not meet Newcrest’s investment hurdles”.

The implied values resulting from these discussions are contradictory (the value of Havieron cannot be both less than $1.2 billion and greater than $1.7 billion). On the other end, the value ascribed by the independent valuer reflects the prescriptive process and principles outlined for the in the joint venture agreement. In most instances, Newcrest’s decision not to exercise the option (particularly given its knowledge of the asset) would suggest that $1.2 billion is a notional “ceiling” to the value of Havieron.

However, there are several factors to suggest that the project value may have changed since then:

..... therefore we will assign it a value of between $500 and $600 million including Telfer.

You couldn't make it up

Https://www.newcrest.com/sites/default/files/2023-09/Newcrest%20Scheme%20Booklet.pdf

For anybody who wants a little but of light reading, or who is truly interested in Newmont / Newcrest's current thoughts and valuations for Havieron.

Dear LSE,

Could you please enhance the Filter functionality so that it does not just filter messages based upon the username who created the message (already working well), but enhance it to also include any reference to that Username in individual messages. Thus filtering out the un-needed carp responses to the original message.

It would certainly enhance the usability and user experience of your platform.

Many thanks and kind regards.

The article without the firewall.

https://12ft.io/www.theaustralian.com.au/business/dataroom/newcrest-looking-to-offload-telfer-gold-mine/news-story/c827c58ef506f136f4f61cba1388ef00?amp

Https://www.cruxinvestor.com/posts/greatland-gold-positions-itself-for-significant-growth-and-strategic-partnerships

Don't think I've seen the attached post.

@Sureasblazes - Good post, but I think you'll find SD agreement was 4 years and not 3.