Member Info for MH01

Spade we have a lot of uneducated posts by those who don’t read the details and take into account factors like the gold macro environment going forward, EV macro on cooper going forward, plus the micro on what’s been spent by Newcrest / Newmont the past 5 years on maintaining and upgrading Telfer PLUS the development of Havieron to date. I dare say close the AUD1bill spent over the past 5 years… and we just bought it all for a very very good price.

GDX here we come. ASX here we come. New buyers will appear in 2025… the future is much clearer today versus this time last weekend. Happy days 🍾🥂

IMO we have to be worth no less than De Grey at £1.5bill which is 11.5pence (at 13bill shares). They’re 2 years from revenue, we have instant revenue.

The ASX cross listing is a big catalyse IMO… a lot of new buyers.

Https://www.ggpchat.co.uk/viewtopic.php?t=955&sid=3641e70c352c9052005de8d09f2189fb&start=20

Still looks positive and up from here

Today I assume ?

The deal is done now. Agree in that I wish the placing was at a 10% discount rather than 30%. Perhaps that was needed for Newmont to agree the deal considering many have said the price paid is a bargain. As the Money of Mine guys said what’s 300million to Newmont. So to sweeten the deal they want to make money on their 20% GGP shareholding. Anyways, pointless now going around in circles on this. Need to look forward as no amount of complaining here will change a thing.

Https://x.com/TaviCosta/status/1834655995559284823

StarBright I hope you raise this at the TH

Just filter them all

Https://x.com/RoastPR/status/1834590497232338951

This is why I personally think the share price should be 11.5pence once the dust has settled and the transaction is behind us. That is, I feel our market cap should at least equal their £1.5bill since they are an explorer only still 2 years from revenue. How can we be worth less than that as a starting point. From here the upside far far exceeds any downside.

And to add further with the De Grey comparisons and how GGP should be viewed in Australia once on the ASX.... Hemi is still 2 years away from first revenue!! H2 2026 is the current target, DEG should have commenced construction works after their huge raise this year.

So what do we all think the ASX listed market cap of GGP is worth?

An explorer with a £1.5bill market cap still 2 years from first revenue. GGP has revenue from soon after the purchase is complete and will continue developing Havieron into production.

https://www.mining.com/web/de-grey-mining-launches-395m-equity-raising-for-western-australia-gold-project/

Some great slides on just what De Grey need build from scratch here. They did a huge AU$600mill raising in May2024 plus massive new debt facilities in place

https://app.sharelinktechnologies.com/announcement/asx/c22b9494a687a7caadff9105cf7514e5

De Grey worth close to AUD$3bill market cap as an explorer. Still years from first revenue. And GGPs latest presentation compares our gold resources to theirs.

So an explorer on the ASX is worth £1.5billion. They own 100% as often noted here. We now own 100% plus a mill and the rest. And De Grey still need to build all of what we have. We have revenue straight away with Telfer, no more waiting for Havieron to start earning.

So let’s do some maths. £1.5bill market cap 13bill shares = 11.5pence a share. £2bill market cap = 15.3pence. £2.5bill = 19.2pence.

That’s why I have posted a few times that at the moment the share price and market cap for GGP on Google doesn’t equate to what the “new GGP” is worth. A rerate has to come at some point. The ASX listing will be a great catalyst given that market loves miners. Good investment opportunity at present.

https://www.google.com/search?q=asx+deg&sca_esv=a5fe1f6bddd2655c&sca_upv=1&rlz=1CDGOYI_enGB787GB787&hl=en-GB&biw=414&bih=720&source=lnms&fbs=AEQNm0Aa4sjWe7Rqy32pFwRj0UkWVUZp4v-x7GdfkUT9pdAixwnawXsKPr64_su4InZmst3Ecn0Db43QhX9XYwkK_BCVf-_792VQhQdFBozKo_0z5SpbI9IFHJRDa5qWZeOlEl-UbL5GYYLS_X7RLgxRnDMfYI-DNXBVxkKNf-bAxCqXbXbrZiflQhNP7-M2NSwIZj5GGXEVt_19qGqfa31byWeDYBx1Cw&sa=X&ved=0ahUKEwjZ5uHn1qiIAxW-VEEAHcL3H2sQ0pQJCBo

Https://hotcopper.com.au/asx/azy/discussion/

Page 38 of the presentation is using a long term gold price of US$1844 and Copper US$3.72. Well below current spot and below expected price over coming years. Means they are understating the true valuation of the New GGP.

Some strange comments recently, this is up there. Telfer has a stockpile of ore ready to process once the EPA signs off the tailings dam. Enough ore for the next 15 months or so using 1 train. As noted in the documentation. So from October 2024 Telfer will be working again and earning revenue.

One more point StatBright… once GGP is listed on ASX it will be compared to ASX peers and the price should align accordingly. Perhaps LSE isn’t the best place for a mining company… and Australia will rerate accordingly. Also when ASX listen new monies will buy that won’t buy now… Australian ETFs for one.

StarBright what do your numbers look like if you use a PE of 15 and 20 and 25? Instead of 10.

🤞😘

In terms of PE ratio for ASX stocks.. as per Google today:

- northern star = 28

- evolution = 20

- perseus = 7 operates in Africa

- gold road = 17

- emerald = 30

StarBright I’d be happy just to see the share price back in the 20s to be honest