Member Info for MF11

To paraphrase Shaun from the Proactive interview - "Ultimately Greatland see it (MRE2) is a "material update" and should be released to the market." - Perhaps it is not viewed as material for a major like NCM but GGP have market rules to adhere to. Possibly running a fine line if we do not release one.

Agreed Bamps - however, as nicely put in the article I posted below.

By association any results posted by Newcrest are assumed to apply and be agreed by GGP. They are obviously un-aligned.

From the article:

The point that Greatland is making is that Newcrest has released its annual report on reports and reserves to the Australian (ASX) market. As Greatland and Newcrest are working side by side and rather together on much the same mineral deposit what Newcrest says reflects upon Greatland. So, for example, if Newcrest says reserves are this, then that gives an indication that Greatland reserves must be thus.

https://www.asktraders.com/analysis/greatland-gold-wants-to-explain-newcrest-announcement-why/

Good take on the situation in this article.

The problem, such as it is, is that the Newcrest announced results seem to jar with what we think we know about Greatland. Which isn’t a state of affairs that anyone would or should be happy with. Greatland Gold then goes on to point out that the Newcrest announcement regarding Havieron has an information cut-off point of 12 Oct 2021. There have been Greatland information releases since then. Further, that 12 Oct point relies upon drilling information only up to 5 Feb 2021. Over a year ago – there has been more from Greatland in that timespan.

So, the information that is relevant to Greatland is that announced by Greatland since those cut-off points, we should not be assuming implications from the Newcrest data statement.

This all sounds a bit nitpicky but it is at the heart of how junior miners work. The entire development process runs first, think of something to look for, where. The next stage is, having found something potentially viable, to check and whether it actually is viable. Third, prove that properly, then actually go mining. Failure at any stage is to be avoided, hopefully.

They were looking for an Exploration Field Assistant 15 days ago, that position is still live, obviously need a lot of hands on deck.

https://www.seek.com.au/job/55970325?type=standout

Exploration Project Geologist
Greatland Pty Ltd
PerthCBD, Inner & Western Suburbs
Mining, Resources & EnergyMining - Exploration & Geoscience
Contract/Temp

https://www.industry.gov.au/data-and-publications/resources-and-energy-major-projects-2021

Around 10 per cent of all projects are in gold, as price drives development
There are seventeen gold projects at the feasibility stage, with a combined capital expenditure of around $5.6 billion. Several companies have indicated that their projects may be close to progressing further. These include Newcrest and Greatland’s $529 million Havieron gold project in WA, Newcrest’s $1280 million Cadia PC 1-2 gold project in NSW, and Karora Resources’ $50 million Higginsville Mill expansion project in WA.

Great new interview with Investability, Shaun at his buoyant best.

If only TakingMyTime was still here. He would eloquently summarise the RNS and what it means to us. However, as I see it.

1. Shaun Day has been here exactly 1 year and therefore would imagine this Perfomance Related bonus could only be issued now.

2. It incentivises both SD & CT to remain with the company long term and will prevent either from being poached by another company.

3. If they don't hit the targets they don't get the bonus, so nothing to moan about.

All in all it is preparing the company for the long haul and ensuring that we have a stable BOD for the major part of that journey.

@HeresHopin - As I said there is no OPTION on these and therefore no price will be paid. They will be awarded the said number of 0.01p Shares as performance related bonus. The 0,01 relates to the issue denomination of the share.

@HeresHopin - Yes some are old OPTIONS that had been previously granted, the RNS states that the expiry date for these have been extended.

The other part of the RNS is do do with Performance Related Bonus where the shares will be awarded to SD / CT based upon meeting certain criteria (note the word awarded rather than paid for - the RNS states the number of 0.01p shares to be awarded).

Although Shaun said 1200 at Havieron in the podcast yesterday, I think it was a sip of the tongue. He tweeted earlier this week 380 at Havieron, and there are around 1200 at Telfer.

Thanks Dip - Brilliant as always.

Interesting to note from Shaun's interview - his quote "Yes, so back into the SE Crescent proper, that’s the focus of the PFS, where we’re doing the Starter Mine and trying to mine out plus 5g material, which will generate strong free cash flow for us immediately as we move into production"

However from the current MRE released by Newcrest
Maiden Ore Reserve - 14MT @ 3.72g/t for 1.6M Oz
Mineral Reserve - 53MT @ 2.1g/t for 3.6M Oz

Is he hinting at an upgrade of g/t on the original MRE as well as an increase in tonnage included in MRE2.

Everything coming from Shaun is extremely buoyant. I'm certainly looking forward to the end of Feb.

@nookie - Could you please tell us who they are, because they must be absolutely fantastic!

@StarBright - "@JiffyBag….? What conclusion did you draw from this?"

Not sure about Jiffy, but my conclusions are:

1. All figures used by Berneburg are extremely conservative.
2. All the fudders tend to use less than the numbers used by Berenburg so can immediately be ignored.

@petejh - I read your condescending diatribe with interest.

Fair enough you disagree with SAS's workings and come up with your own, but who the hell are you ridicule when your numbers are below most conservative numbers for the 5% FMV suggested by the brokers.

£110M! Too funny, bet the fudders love you on this board. How many have you fleeced?

@Gunst - It is extremely difficult to know what will be included in the calcs. As Dip66 has highlighted in the VALMIN code there are a number of different methodologies in calculating FMV, and what is included in the indicated, inferred and exploration upside is impossible to know at this stage.

However, my guestimations show that for 5Moz and no upside the FMV should be close to £100M.

We all know there is likely to be far more than that figures of potential for 20-30M Oz have been regularly mooted both by experts on this board and from many other industry experts. I would be hoping for a minimum FMV for the 5% of £300M if these figures are close to those used by NCM/GGP , possibly up to £500M.

@JoshSheps - my fag packet calculations (or detailed spreadsheet) would suggest we have been totally shafted with any of those numbers.

@phelpsb - proved wrong on the POG.

Now trying to de-ramp based on a totally unrelated company.

Desperate or what?

Not sure what sounds better "Fraction of a Fraction" or "Tip of the Iceberg", but is shows we have plenty more to come.

https://mobile.twitter.com/GreatlandGold/status/1483656802042630144

@Mumbo Jumbo - I think he has:

Subsequently - I have declared you an honourable 'twunt' forthwith. Congratulations.