Member Info for MH01

Huh?

To acquire the 30% would require an agreement with GGP. Can't see it myself. Would have to be a crazy offer to tempt GGP to consider it. Havieron is the "start" for GGP providing reliable annual cashflow. To lose it at the beginning is not the most ideal outcome.

Don's figures of annual free cash flow, plus some I have shared previously, we are talking about a couple of hundred million Aussie dollars each year to GGP. This is a company maker.

These guys are also on our border, Thor Mining, wonder if they are finding anything. we get a mention here https://thorenergyplc.com/projects/ragged-range-project/

These geologists discuss what they look for. Wonder if GGP will be on their radar in 2024.

Really insightful as to what the Aussie investor is looking for, outside of the usual PI of course.

https://youtu.be/4zxFt_mekbc?si=1txfdQj9oiDWUXzN

Thanks Dip. I think this should be USD and not GBP, from Don's view point .... "....a £3-4bn multi asset company"

Hey Fred:

"If you watched the interview like i did you will see liam was totally out of his depth , cringe worthy near the end , stop sucking his balls and get real , he eas done up like a kipper , red flag ? Give him 3 weeks he wouldn’t of found one , 3 quid for a coffee anyone"

That is pretty sh7t of you to write that. Have you done anything off your own back to help GGP shareholders? Have you set up a website, or hosted live YouTube chats about results, or hosted interviews with GGP staff and other notable individuals?

All this is for the betterment of all involved. Liam is not a professional, but does his best. In comparison what do you do?

Being an *anker towards others who spend their time helping shareholders is a childish antic. You are in your 60s and come over as a bitter man.

Look at what Liam has gone to achieve. He is just like you and me, a lowly PI. And yet he has managed to create platforms for all shareholders to benefit from. So what his delivery is not Sky News worthy, look beyond that. In my time investing this is the first time I have been involved with a PI shareholder group that researches and shares like this. It is a blessing. Lots of companies are like dealing with North Korea, so much secrecy, especially at the smaller end of the market.

I think you should apologise and say thanks to all shareholders that give their time willingly to help us understand our investment better, and give comfort if we have invested wisely or not.

The Rick Rule interview link covered gold very well. Fred you need to watch.

Agree, Fred trying to state that anyone here is jumping for joy over war needs his head read. Gold has been suppressed for years Fred, perhaps that is coming to an end end. You’ve invested into a gold company by the way, stating the obvious.

If Newmont model similar future profits to Don, they could come in and offer GGP half of that target price now to ensure they keep it to themselves. How knows what'll happen. The takeaway for me is that the current share price of 6pence is undervaluing GGP.

Don discussion at 15min mark:

- at 200,000 ounces a year at $3,000 gold at $1,700 margin (profit after costs) = free cash flow of $340million a year

- clearly not from year 1 but if that’s the future profile that’s how Don gets his valuation of $3.4billion using his PE multiple of 10

He quoted $376mill current market cap so 8-9 bagger from 6p. 6 x 9 = 54pence.

On the topic of PE multiple. He believes they will be high for Australian companies at $3,000 gold.

He says he is being conservative at 10 for GGP as he believes a multiple of 15 to 20 will be applicable for GGP. Crikey!

So his 54p target is being conservative. Listen it’s clearly a target but surely this is comforting to us all that the bad days behind us are coming to an end. If you needed an independent opinion you’ve got it.

As Don noted, a higher share price also benefits Telfer which has a low profit margin right now. Win win.

It would actually make a pleasant change if people like Fred, instead of posting dismissive rants at others and criticising all of the time, posted something worth reading like research etc. I don’t think Fred and co do their own research into the wider macro etc but instantly insult others who have when a forecast doesn’t come about quickly.

The Fed has stopped the traditional business cycle ever since 2008 GFC, of booms and busts. What used to cleanse out the rubbish has now been supported by money printing. This has prolonged what people like Peter Schiff predicted back at the GFC. They didn’t foresee the Fed and co responding like that, since it had never been done in history. At some point the Ponzi scheme of debt and money printing has to come to a head. That’s when gold will shine.

JD… Don looks for 5 baggers so 30p a share for GGP from here. He also said current market cap is about $360mill USD and he sees it being $3billion+ down the road based on his FCF and PE modelling. That’s closer to a 10 bagger from here. Patience of course. Not easy waiting of course but we hope the rich rewards are awaiting us all.

JD… Don looks for 5 baggers so 30p a share for GGP from here. He also said current market cap is about $360mill USD and he sees it being $3billion+ down the road based on his FCF and PE modelling. That’s closer to a 10 bagger from here. Patience of course. Not easy waiting of course but we hope the rich rewards are awaiting us all.

Don using his $3000 gold price valuation method, values GGP over $3billion. Awesome!

Telfer is the largest land area that requires rehabilitation. About half of the total land size is attributable to Telfer.

Page 54 - https://www.newcrest.com/sites/default/files/2023-09/230921_Sustainability%20Report%202023_0.pdf

It is interesting that Newcrest provided for rehabilitation costs of USD$505million which covers ALL of their properties. Unsure what is Telfer's separate provision.

Page 142 - Note 19:

https://www.newcrest.com/sites/default/files/2023-09/230921_Annual%20Report%202023_0.pdf

I’d like to know what remediation of Telfer looks like. Are they expected to put the land back they way it was?

They have all that infrastructure plus massive hole in the ground. I’m trying to imagine the cost.

I chuckle when RIO is mentioned again. Yes we have a JV with them, however I am pretty sure RIO has lots of JVs.

Gold price at USD$1,950 at the moment