Member Info for MF11

@Chartarex

So cash of £245.5 Million

Gold equivalent stock pile of 426,000 Oz circa £400 Million

Mine Development Asset £246 Million (£82 Million for our 30%)

Total of £891 Million

With nothing for Telfer Infrastructure, Havieron Gold, additional ore from Telfer etc. etc.

and you think £585 Million is fair value.

I am certainly glad you are not an estate agent, you'd forget to value the bricks and mortar (let alone the fixtures and fittings)!

I note that the US portion of the GDXJ has not been reweighted (as of 01.11.2024) where the UK portion of the index has, so they are now out of Sync.

Weighting showing:

01.11.2024 UK Index 0.53%

01.11.2024 US Index 0.31%

If the US index was to increase by an equivalent amount to that of the UK index, then they would have increased their holding by approximately an additional 150 Million shares.

I am of the opinion that these may have already been purchased as the volume of shares traded last week was quite large (circa 318 Million).

So I am somewhat bemused as to why the US index Holdings have not been updated. Perhaps it is simply a delay in the update of the holdings in the US index, it is currently unclear why there is a discrepancy between the 2 portions of the index.

Australian Mining takes a deep dive into Greatland Gold's acquisition of two Newmont gold assets.

https://issuu.com/primecreativemedia-2016/docs/am1124

See Page 50

You also need to take into consideration that both the Solactive and MSCI indices will have notification of their rebalances next week.

Although some of them will not be solely driven by Market Cap, our increase via the equity raise may have an impact on the number required during the different index rebalances.

Thanks JS.

I believe that the index calculates the Free Float by removing all shares that have a notifiable %, as well as Insider Owned shares and obviously those held by themselves, and that all other institutionally owned shares are included in the Free Float as you state.

@HaveTelfer

A small increase (approx 1.6 Million) in the number of shares held by the GDXJ last week due to removal of Osisko Mining from the index (the take over by Gold Fields was completed).

As for the purchase of the shares required by the GDXJ following the equity raise, the GDXJ Index Guide suggests to me that they should be buying the shares this week.

"Any secondary issuance, share repurchase, buy back, tender offer, Dutch auction, exchange offer, bought deal equity offering or prospectus offering will be updated at the quarterly review if the change is smaller than 10%. Changes larger than 10% will be pre-announced (three trading days notice) and implemented in the first dissemination day of the following month (on a best effort basis). If necessary and information is available, resulting float changes will be taken into consideration."

That said, I have been checking for the "Pre-announcement" and have not seen one to date. If this does not happen, then these should be bought at the next rebalance.

With regards to the numbers, I cannot say in any certainty exactly how many will be required, but I am of the opinion it will be a substantial number.

My indicators / rational behind this thinking is as follows:

Looking simply at the number of shares.

As at the last rebalance the Free Float was calculated at 4,683,146,179 by Van Eck.

This has increased to circa 7,500,000,000 an increase of just over 160%.

Current Holding Circa 240 Million (in UK & US Funds). 240 Million * 160% = 144 Million required

However, taking the market cap into consideration.

As at the last rebalance the number of Free Float shares was calculated at 4,683,146,179 by Van Eck, giving GGP a rebalance "Free Float" Market Cap of $310,838,910

Since the equity raise, the number of "Free Float" shares has increased to just over 7,600,000,000, giving us a current Free Float Market Cap of around $660 Million.

Given that a Free Float Market Cap of $310 Million gave us a rebalance weighting of 0.30% at the last rebalance, where a Free Float Market Cap of $660 Million would have been closer to 0.63%. I am expecting an increase in the number of shares held in the GDXJ to increase to reflect this. Around 210%.

Current Holding Circa 240 Million (in UK & US Funds). 240 Million * 210% = 264 Million required

Apologies that this is such a wide ranging estimate, but to summarise.

I am expecting a large buy of, somewhere, between 144 and 264 Million Shares by the GDXJ by the end of December, and possibly as early as this week.

@napthman1 - "Mf lets see and i dint need your help." - thanks for confirming, I was already pretty sure that was the case, as I have often been told you cannot educate the ignorant and the stupid.

@Napthman1 - To be fair, and touching further on what was mentioned by HT & Jerry yesterday, there should in fact be some pretty significant buying of GGP, by Vaneck, for the GDXJ fund, either in the coming weeks or at the next rebalance.

As both stated in their posts, the Market Cap of Greatland has grown significantly since the last rebalance. This was obviously due to the increase in the number of shares listed for the company via the equity raise.

As at the last rebalance the number of Free Float shares was calculated at 4,683,146,179 by Van Eck, giving GGP a rebalance "Free Float" Market Cap of $310,838,910

Since the equity raise, the number of "Free Float" shares has increased to just over 7,600,000,000, giving us a current Free Float Market Cap of around $660 Million.

Given that a Free Float Market Cap of $310 Million gave us a rebalance weighting of 0.30% at the last rebalance, where a Free Float Market Cap of $660 Million would have been closer to 0.63%. I am expecting an increase in the number of shares held in the GDXJ to increase to reflect this.

It is not 100% clear to me exactly how many are needed and when these will to be purchased. However, the MVGDXJ_Index_Guide (https://www.marketvector.com/rulebooks/download/MVGDXJ_Index_Guide.pdf) suggests, in its Ongoing Maintenace section, that this should be done on the "first dissemintation day of the following month" (i.e the beginning of Novemebr).

So yes, there will be major buying in the index, but NOT for the reasons you indicated.

I hope that helps.

LOL - Filtered

@napthman1

"Mf11 id say its a mixture of both investment and miners going up......" - No that is not the case if you analyse the numbers people have been selling out of the GDXJ.

"So they will buy if this week carries on like the end of last week.....," - No, see above, unless there is more buying than selling in the fund they will not buy.

"Also, quarterly results are due on producers. " - This will only impact the SP of the individual constituents and potentially increase the value of the GDXJ fund and will not necessitate buying of shares in the constituents by the fund.

"Sometimes posters need to get over them selfs and step back and look at the bigger picture" - totally agree, please practice what you preach.

@napthman1 - "More people invest on the gdxj the more the gdxj have to buy"

Yes that is certainly correct, but the fact that the GDXJ price goes up in value does not necessarily mean that more people are investing into the fund, and sorry to disappoint you this is not the case.

The fund has gone up in value due to the fact that the majority of constituents of the index have had an increase in Share Price (due to the increase in Gold and buying of shares in the constituents of the fund), and not because people have been buying into the fund itself. In fact the reverse has been happening, and people have actually been selling out of the GDXJ fund.

So no, no buying, still minor sells from the fund happening on a weekly basis. Yes, that will change, but just because the price of each unit of the GDXJ fund goes up does not mean they have to buy more.

Please learn how it works before you post such rubbish.

Https://www.ggpchat.co.uk/viewtopic.php?p=5923#p5923

Suggests we are significantly undervalued, and more catalysts to come.

No

Far from it being my place to tell you which side of the debate to take.

It is abundantly clear that both have read some or all of the 573 page AIM Readmission document and they certainly seem to have digested pertinent content from it, by their reference to it.

However, what is also abundantly clear, is that one of them has also made significant time and effort, in attending all of the town halls, meeting and questioning Shaun directly and listening to all of Shaun Day's interviews. Where the other has clearly not.

Shaun has always been at pains to state that he can NEVER legally state we are fully funded until production, given that this is a future prediction and he can not rule out potential "Black Swan" events. However, he has certainly indicated to the best of his ability that there are a number of clear "Pathways" to being fully funded. Either through the use of funds generated from the Telfer Stockpile, and possibly future Production from Telfer, through Debt, or through a combination of the two.

If Starbright was the "concerned investor" he purports to be, then surely it would be in his interests to email the ever approachable Shaun Day or company directly to discuss his fears. However, rather than do that, he chooses to raise these concerns on a Chat Forum, one could question his motive for this.

I know who I choose to believe in the discussions, and that is Shaun Day, and those who have met and have regular correspondence with him.

@Malva - You clearly have not read or possibly not digested the AIM Readmission very well.

The 30 Million Tonne is additional to the Low Grade Stock Pile (page 76).

There is no mention of Hedging on Page 29. However, on Page 21, as stated by Jerry is the statement "Greatland Pty Ltd has agreed to enter into hedging arrangements in respect of approximately 60% of the estimated sales volumes per month in the Telfer Initial Mine Plan, through a combination of fixed price forward sales and bought put options."

Or because we now have 10 Billion shares the Short has dropped under the mandatory reportable threshold, and they have not reduced at all.

Down to 0.25% on the 02.10.2024 according to the FCA daily notifications.

Greatland Gold site has now been updated.

https://greatlandgold.com/investors/share-information/

Number Of Shares in Issue = 10,410,112,311

Name Number of Ordinary Shares % of Issued Share Capital

Wyloo Consolidated Investments Pty Ltd 1,105,136,117 10.616%

Tembo Capital Management Limited 796,770,833 7.654%

Firetrail Investments Pty Limited 637,500,021 6.124%

@spudimminent

"Has anyone worked out the number of shares GDX will require in the coming weeks?"

Yes, 0 shares. The September rebalance has just been completed, and GGP were not in the GDX index.

However, I am think there is a high possibility of some buying in the GDXJ, as the Index should be required to maintain it's weighting in that Index. Due to the fact that the number of Free Float shares would have increased from today (noting that the Newmont and Wyloo shares will not be included in this, and it is unclear if any other new holders would have exceeded the reporting threshold). I am expecting this to be in the high 10's of millions; possibly in excess of 100 Million, but am not sure when they will be obliged to purchase them.

Hope that helps.

Amid the flurry of events with WA business representatives, Mr Albanese also met with former UK deputy prime minister Dominic Raab, now a senior adviser for global mining finance specialist Appian Capital Advisory.

Mr Raab is advising the London-headquartered company on securing critical mineral supply chains amid geopolitical challenges, and said he had remarked to Mr Albanese he thought Australia was deftly navigating a challenging relationship with China.

Mr Raab said Australia and other Western nations needed to “pedal harder” to coax countries such as Indonesia, the Philippines and Peru to bolster critical mineral supply chains.

“We need to get out of our comfort zone and start building up clusters of high trust partners and probably bringing in countries that we haven’t before,” he told The Australian Financial Review.

Speaking generally about industrial relations challenges globally, Mr Raab said governments needed to ensure they balanced job security with economic viability for projects and ensure they did not “kill the golden goose” while tinkering with the sector.

“The advantage of having a global perspective, which we do at Appian, is you want to try and look for win-win, you want to carry people … Now of course, you don’t want to kill the golden goose that lays the golden egg,” he said.

Newly appointed Employment and Workplace Relations Minister Murray Watt met business leaders on Tuesday afternoon in Perth to discuss the implications of the government’s industrial relations concerns and field feedback.

Chamber of Minerals and Energy of Western Australia CEO Rebecca Tomkinson said businesses had been forthright in their assessment of the government’s reforms.

“They were very candid and frank discussions as you would expect from West Australians,” she said.

“We cannot afford the introduction of new obstacles, including in the form of overly burdensome IR settings. It is vital policy and decision makers appreciate what is at stake when the goal posts shift.”

West Australian miners say Prime Minister Anthony Albanese’s 23rd visit to Perth has coincided with a major shift in attitude towards the state’s biggest industry, despite his insistence the government will not deviate from controversial changes to industrial relations laws.

The prime minister and his frontbench have blitzed through Perth on a four-day trip, holding daily media events including school photo opportunities and dining with the state’s business elite in the evenings.

Mr Albanese was expected to attend a dinner at the Perth home of AirTrunk chairman and Fortescue deputy chairman Mark Barnaba on Tuesday evening with business and mining leaders.

AirTrunk founder and billionaire Robin Khuda flew to Perth to attend the event on Tuesday fresh from celebrating the multibillion-dollar sale of his company to Blackstone. Fortescue and Greatland Gold executives were also expected to attend.

Mining industry insiders, who have raised concerns over the industrial relations changes and effect of the Albanese government’s Nature Positive reforms with the prime minister at several private events, have remarked that he appears to have taken a more hands-on approach to his interaction with industry during the latest trip.

“There’s been a notable shift in the government’s attitude towards business and toward WA, but we’ll wait and see if this results in any meaningful change in policy before we get too excited,” one senior mining executive said.

Mr Albanese has publicly flagged he is willing to water down aspects of the Nature Positive reforms after months of campaigning from the WA government and major miners.

However, on Tuesday he dismissed other concerns from miners relating to changes to industrial relations laws, which companies have warned will increase their cost base at a perilous time for the industry as commodity prices soften.

“Our industrial relations reforms are working,” Mr Albanese said, backing in his resources minister, who last week criticised mining giant BHP.

“I’m leader of a Labor government. What Labor governments do is understand that working people need proper wages and conditions.”

Another mining sector source said they expected the prime minister would be making more of an effort with the sector given the amount of anxiety some of his government’s reforms had stoked in WA.

“It wouldn’t surprise me that he’s growing an appreciation for the situation that they’ve created for themselves and the need to do something about it,” they said.

WA Premier Roger Cook and Appian senior adviser Dominic Raab in Perth on Tuesday.

Others remarked that although Mr Albanese had stressed the importance of a Westminster style of government on previous trips to WA – where ministers are left to be responsible for their portfolios – they remarked he had made no such comments on his latest trip.

TBC