Investment Case for GGP13 Jul 2023 11:22
The investment case for GGP is very strong, for several reasons, the main points I have outlined below: -
1. World-class gold/copper discovery at Havieron of which GGP hold 30%, and may get the chance to own the other 70%, subject to what Newmont decides, but they've already intimated that it will remain an important part of their portfolio.
2. A Board of Directors and team put together that is probably one of the best in the mining industry, not just in Australia, but globally.
3. Flexible funding arranged that takes us at least up to production and into free cashflow.
4. Decline down to the orebody not too far to go now, on track for Q1 2024, and maybe even sooner.
5. Maiden Resource Estimate (MRE) upgrade to be announced in August.
6. Feasibility Study (FS) and decision to mine (DTM) although still not officially announced, through all the time and money spent and the progress of the mine development, highly unlikely not to go ahead, and I would expect it to be announced round about or at the time that we get the go ahead. The only thing that might hold it up, is the dotting of the i's and the crossing of the t's by Newmont/Newcrest on the merger.
So, all-in-all, a lot of positive news flow to come, and then we have drilling results to come from several projects, including the maiden ones from the Rio Tinto JV, plus the Juri JV and any up-to-date results/news on Havieron.
That's all the positives. The only negatives are the possible delay, and the performance of the share price, which has mainly been heading South, and GGP have no control over, as shorting has been the main issue, as to why we are where we are now, plus the possibility of a rumoured placing hasn't helped.
GLA Greatlanders! Remember! Hold for gold!