RE: Goldworm responds to criticism21 Jan 2025 15:03
If you need proof of why the ASX listing is being pursued see this.... boom...
https://hotcopper.com.au/threads/upcoming-catalysts.8106473/page-1241?post_id=77504088
"Hey @goldworm , appreciate your input here. Yes, obviously Havieron is a once in a generation discovery, that's why it's attracted the likes of Twiggy Forrest and his close circle to jump onto the project.
A point to keep in mind, is that the AIM market is a different ballgame to the ASX, especially in regards to mining stocks. Capricorn Metals is a good example of how an ASX company producing 110,000 oz gold per annum @ a low grade of 0.8g/t , is valued at $3 billion MC, which is roughly double GGP'S MC. Capricorn has another low grade gold project in development, which will increase their annual output to 270,000 oz gold. But even when Capricorn were a single asset company, they were still valued at $2 billion MC.
Westgold, another ASX gold miner, has a 420,000oz production guidance for FY2025, but yet are valued at $2.5 billion MC. Capricorn 110,000 oz pa, valued at $3 billion MC.
The challenges for GGP is obviously possible operational & production issues, which every gold miner is not immune to, and Telfer being almost 50 years old, or nearly 30 years old after reopening. Delays in getting Havieron online are another possibility, as there's still a lot of work to do. And probably the most pressing issue is, the short mine life of Telfer and running out of ore.
One thing that's almost certain is, when a gold miner on the ASX misses production guidance forecasts, even by small amounts, even if they're making 10's of millions of profit for a quarter, they often get punished severely on the ASX markets.
It's probably inevitable that AZY will merge or JV with GGP, because the synergies of Minyari ore & Telfer ore/plant which are 100% compatible, are too valuable for GGP to not own. But at this stage now, AZY has attracted the most successful investors in the sector to jump onboard, with a long-term view, the direction will be going on an ASX orientated path, where the trajectory now is coming from a sweet spot, an almost perfect storm for AZY to move Minyari to production when gold is at all time highs.
Yes, potentially AZY will get GGP script in a future deal, but if Minyari & Havieron combined, it'd put it in tier-1 gold mine territory. Which is good for all."