Member Info for MF11

Kevin - and you say you were a CEO of a business (must have been a one man band with no need to raise debt).

Absolutely clueless.

Kevin - get your facts straight.

Did he confirm we needed more money - No

Did he confirm that a possible raise was to get us to Production - No

Will we need more money if we were to attain 100% of Havieron/Telfer - almost definitely

Don't make things up.

"no one saw this Newmont deal 18 months ago"

- maybe I didn't, but listening to SD, he certainly saw this as a possibility, and set GGP accordingly.

Do you really think all of the new board members have joined GGP and Wyloo have invested multi millions, for us to simply divest our prize asset?

Only time will tell, but I cannot see Newmont getting 100% ownership of Havieron. IMO it will be the complete opposite.

Additionally if you attended the latest Town Halls, you would recall that Shaun mentioned that in the early days of his tenure he met with Newmont and most of the other majors.

This was obviously before he persuaded all of the behemoths now on board to join GGP. They would not have joined if they felt there was any risk of Havieron or our other major prospects being divested.

What you are missing with regards to MH01's comment (one which I tend to align with) is that Newmont are neither an Explorer or a Developer (of newly found resources), they are simply a Miner and Buyer of proven Tier 1 assets.

Havieron is not one at present, and they would certainly have no interest in Ernest Giles. Given time, a long time, they may have interest in buying Havieron from GGP and potentially other assets. But using their normal terminology IMHO they would simply state "Not at this time" with regards to GGP and any of it's assets.

I guess only time will tell.

@Melville1 - Sorry, but you say the decline of the SP is nothing to do with "shorters" and it is simply down to more sellers than buyers in the market. I agree they are not the sole reason for the reduction in the SP, but they have definitely had an impact.

If not could you please tell me what a shorter does with there shares when they take them on loan?

As I was under the impression that they borrowed them to increase the number of shares sold them on the market.

@SpadesAspade - I'm sorry but I have to defend myself here, but it appears to you that has not understood the figures and the TR1 announcement.

Prior to the Rebalance of the -
17th March 2023 there were 216,786,979 shares in the US Portion of the GDXJ Fund
The figures as of COB last night-
3rd April 2023 there were 233,530,947 shares in the US Portion of the GDXJ Fund

As I correctly stated that is an increase of 16,743,968 in the US Fund during the period.

The figures I stated has not included those from the UK portion of the Fund, as it was only meant to challenge Napthman1 insinuation that there was an addition buy expected that was not a normal daily transaction.

3rd April 2023 - 24,928,154 Shares.

The total holding of Vaneck as of COB 3rd April is 258,459,101 (US + UK Funds)

The TR1 Notification was for Vaneck's entire holdings (UK & US( and not just the US portion (please revisit the TR1 for clarity).

It is a forever moving number, and even the data from today's TR1 is now out of date. That figure was from the date the 5.00% reporting threshold was breached on the 31st March as stated in the TR1.

@napthman1 - Not sure what you mean - "Well gdxj will make the buy tomorrow instead."

GDXJ have been buying since the last quarterly rebalance, and up to COB yesterday had added 16,743,968 shares in the US portion of the Fund.

They will continue to add on an intermittent (potentially daily basis) whilst money flows in the fund, which appears to be happening at the moment with all the positivity around Gold.

https://www.kitco.com/news/2023-03-31/Pan-American-Silver-completes-acquisition-of-Yamana-Gold.html

The company said that Yamana shares are expected to be delisted from the Toronto Stock Exchange as of the closing of the market on April 3, 2023, and from the New York Stock Exchange as of the opening of the market on April 3, 2023.

Yamana weighting in the GDXJ was 5.78% and Pan American 4.04%.

GDXJ rules state that the maximum weighting for the index is 8%.

It maybe the above transactions has had a knock on impact on the other constituents of the GDXJ.

Noting that Endeavour, Centamin and Hochschild (all London based GDXJ constituents) all had large UT Trades.

https://ukinvestormagazine.co.uk/greatland-gold-the-news-is-getting-better-and-a-big-gold-resource-upgrade-is-possible/

Please see https://www.ggpchat.co.uk/viewtopic.php?t=479 for latest guestimates.

Small decrease in weighting.

Previous rebalance weighting 0.57% new weighting 0.56%.

Yesterday close of business weighting 0.58% new weighting 0.56%

Potential small sell off at implementation next Friday.

My feedback from the Town Hall yesterday. A bit long, but hopefully I've captured all the pertinent stuff and it is stored in one place.

https://www.ggpchat.co.uk/viewtopic.php?t=676

https://ukinvestormagazine.co.uk/greatland-gold-the-havieron-project-has-world-class-potential-and-is-progressing-towards-production-and-cashflow/

Finally an article on GGP that seems to understand the company and its prospects. Nothing we don't know, but all in all well researched and worth a read.

https://www.theaustralian.com.au/business/dataroom/newcrest-mining-could-see-its-telfer-gold-operation-sold-to-greatland-gold/news-story/ee832c0cce3ee8637c03808e3e3023bb?amp=

Unfortunately no access to the article at present.

@acechaser - circle line to Tower Hill gets you within a 2 minute walk.

@Townhall Attendees - I note that Donald has confirmed that the meeting room in the conference centre will be accessible for the online Q & A at 16:00.

Not sure who will go to the conference centre early (as it stands, I intend to), or who will meet in the Cheshire Cheese and only move to the conference centre at 18:00 for the face to face Q & A with Shaun.

https://twitter.com/shaun_day_/status/1627620267953651712?s=20

@aim99 - as requested -

Personally, I feel that the De Grey Mining story has fairly significant relevance to that of Greatland.

If you look at De Grey it is probably the closest comparator we have for the valuation of Havieron.

Size - De Grey circa 10M oz - GGP guestimated 6M oz (30% of 20M Oz)

Funding - De Grey funded to FS (recent raise of $140M Aus), currently no funding for Mine build. GGP potentially funded up to production.

Cost to Production - De Grey $940M Aus - GGP (upwards of $123M depending on new FS).

Timescales - De Grey FS will not be completed until Mid 2023, no date yet for Production. GGP expected production H1 2024.

AISC - De Grey expected to be between of $1100 and $1200 per oz. Havieron $643-$743 per Oz.

De Grey Market Cap approx £1.2 Billion. GGP Market Cap just over £400M.

I know the above is an extremely simplistic comparison, but it does add to my conviction that I'm in the right share.