REMINDER: Our user survey closes on Friday, please submit your responses here.
We are on of 99 companies in the index. It will be rebalanced during the standard quarterly reweighting of the funds in December.
That said the news share will not add to the existing free float so will have no bearing on the amount needed by the fund.
Good post and reminder from Hydro on GGPChat.
https://www.ggpchat.co.uk/viewtopic.php?t=553
Unfortunately Paddy was unable to attend last night.
You can see my feedback on it, for what its worth, on - https://www.ggpchat.co.uk/viewtopic.php?t=551
Also thanks to J_C for finding.
SD now live on day 4 (21.09.2022) rather than presentation only.
https://www.ggpchat.co.uk/viewtopic.php?p=2935#p2935
GDXJ Rebalance
US Fund increased from 188,083,722 (15.09.2022) to 205,003,354
An increase of 16,919,632
No updates taken place on UK fund, however expected increase in excess of 1.845 Million shares when announce.
15 minute overview of Greatland Gold with Alan Green.
Need to note that some of the numbers quoted are incorrect, but overall a good and buoyant overview of our current position.
https://www.youtube.com/watch?v=NeR8WCleZY8
@PasB - What kind of idiots do you take us for.
"ShearClass, you have hit the nail on the head with regard to identifying the main problem
NCM can only get so much gold out each year via the SLOS, and GGP only get 30% of it
and that has to go on repaying the debt"
LOL- so now the debt is endless and never gets repaid (that's a novel concept to spread FUD on).
"It doesn’t matter if they keep mining for the next 30 years due to the time value of money, the NPV will not change hugely" - What kind of MUMBO_JUMBO is that, or are you one and the same person or simply an idiotic tag team.
@Mumbo_jumbo - Back on the 5th September PasB posted the following: -
"No doubt GGP will get a loan – but at what rates if NCM still have that charge over the asset and cannot now be shifted? Their rejection of the 5% option will have reverberated around banking and mining circles in the UK and Australia.
And there seems little doubt that the JV will go mining but is that not all baked into the (declining) SP?
NCM estimated a 4 year payback in the PFS but they have signalled that costs are going to be revisited in the FS, so you could see a one year slippage due to operational delays and another year needed to pay off increased capex, opex and finance costs. Being realistic."
Only a week later and it certainly hasn't aged well.
Debt funding secured and major new appointments to the board, yes, that has definitely reverberated around banking and mining circles in the UK and Australia.
So that part of his FUD blown out of the water, he has now changed his tune and his calculations with regards to CAPEX payback. Why so? I guess if one bit of FUD has proved to be totally wrong, then why not go for it via a different slant.
So his original payback of all cost has now moved from 2028-2029, to it may never be paid back. LOL make your mind up.
Anyhow if payback is not achieved until 2028-2029 then not bad for a multi-decade resource. Think of all of that profit to come!
@HeresHopin - With regards to the new director options. What were you expecting?
I guess expect GGP to be able to attract the cream of industry with no incentives?
or alternatively
You would prefer to pay these directors multi million dollar salaries to attract them to the company.
Personally, I am not naive enough to expect top industry players to join our company for nothing, and I would prefer options over multi million dollar salaries.
But you, I guess you know better!
@Everyonesawinner - What free shares are you on about, they are options, which don't come free. They have to pay for them. As Shaun states "they will be aligned" to us Share Holders, they will want to do a great job both us and them will reap rewards.
From the RNS - *Calculation based upon issued ordinary shares as of 9 September 2022. The gross proceeds from the exercise of all the above Co-Investment Options is c.£23m."
@Everyonesawinner - I have some sympathy with your point of view, but only if you are so blinkered in your thought process that GGP = 30% of Havieron and no more.
That is not the case, SD has not taken on these 3 Mining Guru's and all of this debt simply for our 30% of Havieron. As SD has consistently said Havieron is the best asset he has ever seem to be a "Company Maker".
Take your blinkers off GGP is not just 30% of Havieron, it is a mini (or not so mini) major in the making. Thus these significant appointments and the need to compensate them appropriately are for that and not just to support Havieron.
https://www.ggpchat.co.uk/viewtopic.php?t=506
The increase by 0.05% in the weighting will not make any significant change in the number of shares needed by Vaneck to rebalance the funds.
If you look at the current holdings of Vaneck (US Fund = $3.3Billion + UK = $333Million ) = $3.63 Billion
An additional 0.05% equates to :-
0.05% * $3.63 Billion = $1.8165 Million
at current SP of approx $0.10 cents per shares = 18.165 Million
So it suggests an increase in excess of 10 Million shares (possibly as many as 20 Million), however, these are only rough figures, and it is not known exactly how many will be needed for the rebalance next Friday.
The good news from my side is that there will be no sell off of GGP shares which would have potentially given the "shorters" a number of easy shares to buy.
An increased demand for shares can only be good for the SP. Hopefully we are beginning to turn the tide in that respect.
From MRE 2 - Dated 03.03.2022 this only considers drilling from 2021 and earlier. So what are we being told. The MRE suggests we have a significant amount of gold.
UPDATED ORE RESERVE
25Mt @ 3.0g/t Au, 0.44% Cu for 2.4 Moz Au, 109Kt Cu
or
2.9 Moz @ 3.7g/t AuEq
UPDATED MINERAL RESOURCE
92Mt @ 1.9g/t Au, 0.24% Cu for 5.5 Moz Au, 218Kt Cu
or
6.5 Moz @ 2.2g/t AuEq2
The SE Crescent Study only considers the Indicated Mineral Resource which is a small fraction of the existing resource inventory. SO THERE IS A LOT MORE GOLD THAN REPORTED IN MRE2.
Mineralisation is open both laterally and at depth; with the drilling campaign having the potential to add substantial growth, including:
SOUTH-EAST CRESCENT
Recent drilling intersected increased grade and thickness together with the opportunity to convert the existing Mineral Resource. SO THE S-E CRESCENT WILL GIVE US MORE GOLD.
NORTH -WEST CRESCENT (“NW POD”)
Additional intercepts showing vertically extensive high grade north -west pod target. ANOTHER HIGH GRADE CRESCENT, YES YOU GUESSED RIGHT EVEN MORE GOLD.
NORTHERN BRECCIA
Drilling is extending the mineralised breccia footprint and has confirmed increased continuity of the internal higher-grade Crescent-like mineralisation. A BIGGER FOOTPRINT, DOES THAT MEAN MORE GOLD?
EASTERN BRECCIA
A separate north west trending corridor with an alteration footprint over 600m. OH YES ANOTHER LARGE INTERSECT, NOT MORE GOLD I HEAR YOU SAY.
NEW MINERALISED CENTRES
Potential to discover additional mineralised centres (at Havieron North, Zipa and Meco). AND THEY ARE STILL EXPLORING, AND BELIEVE WE MAY FIND EVEN MORE GOLD.
Now do you understand why all of the FUDSTERS are about and trying to get you to relinquish your shares? Your choice, but I would recommend you ignore them.
The ignorance on these boards dumbfound me. The change of holdings in the GDXJ have absolutely nothing to do with the new placement. As stated earlier the percentage reduction is simply down to the issue of the 5 Diggers shares.
The impact on the placement on the GDXJ is still yet to be effected by the placement. It is also worth noting that the GDXJ snapshot for the September rebalance is due tomorrow. Providing the new shares from the placement are admitted into the market tomorrow (as planned), then the number of shares needed for the rebalance on the 16th September will be affected, and more will be needed to balance the funds.
Please note that this change is due to the issue of the 5 Diggers shares and not the new placement. This may have further impact on the number of shares/percentage owned by the GDXJ fund.
The new shares have not hit the market yet, the new shares should do on 31.08.2022, but they are not guaranteed to hit the market before 14.09.2022 (Long Stop Date) according to the placement RNS.