Member Info for miker444

" even sporadic results achieving 21 g/t and 9 g/t, theses are incredibly high because basically without any MMI or other data they have just picked a spot and getting theses returns. I genuinely believe GH has been taken aback by these g/t hence the work to start in 2 weeks or so, oh and practically on the surface. atb

Sungam 0.78 g/t is the absolute minimum cut off point for commercial viability but i would expect it o have to be somewhat higher to attract a major the size of Rio Tinto / Newmont etc. Probably in the region of 1.5 g/t - 2 g/t, that is what is being averaged at the Kalgoorlie super pit. As for volume it again it would have to be several million oz's for a major, 5m+ possibly minimum. I accept GH is looking to prove up 1m oz at FireTower and whilst that is decent I do not think that will start a stampede certainly not for majors. Not saying that is not to be sniffed at but I would suggest it would be better to sell something of that size relatively cheap for circa $50m and use the money to finance bigger projects. The other defining factors will be the ease of extraction pertaining to costs / near surface / location / transport links etc and last but not least the price that gold is demanding at the time, currently it is pretty good and would appear the trend will be upward for the foreseeable future, if experts are to be believed. Smaller mining companies may be interested in 1m oz clusters but we will have to come in nearer 5m - 10m oz @ 2 g/t ish for me to say a major will come to the table without dragging them by the scruff of the neck. atb

18 months of funding is not an eternity but it is more than enough time to prove up what the drill results give us. Yes we do need a major to take it off us or JV. If the results show several million oz's of gold and near surface then majors will be interested. because mining for gold / copper / iron oxide is what they do. Everyone talks about Newmont but it is Rio Tinto who are sandwiched between one of our licenses, making up the border in fact so they are already set up with all the plant and processing equipment. Rio Tinto are huge and I would put them ahead of Newmont to start talks if at the very least because of their location. And yes most things in stocks and shares have the gambling element but even on the slot machines the lucky strike does come up occasionally.

Totally agree AngelN1 and think it is easy to overlook the fact that NAV values have been set with oil 50% lower therefore obviously we can add 50% to expected NAV and therefore sp. If we get the asset values of our % interest in what has already been stated in the recent presentation we will exceed $200m MarCap comfortably. That gives an sp of 7p ish. This is without further news / deals with the cash that is sitting in the bank and without the uplift of possible 33 bcf of gas to 300 bcf. My point is for those that are prepared to sit it out for the rest of this year ( and i know patience can be tested ) i genuinely believe we will see many multiples of current sp. atb

5eights I took that info from a website but happy to stand corrected, that said CB is the geologist and GH who did join in Jan 2017 is the person with the purse strings so I am happy it is that way around and the fact still remains things have really moved on in the 17 mths Gervaise has been with us. But you are correct and I am happy and man enough to state that. atb

I will agree we have been listed 12 years as it is a fact. However, both Gervaise Heddle and Callum Baxter have only been on board with GGP since Jan 2017, less than 18 months. In that 18 months the company has moved forward at a fast pace, if you compare to the previous 10 years so agreeing again, Havieron drill almost complete, EG drilling to commence in a few weeks, Fire Tower in early stages to prove up 1m oz's and looking to start drilling at Black Hills by Q4 possibly sooner. So now for me we gain nothing by looking back ijn the past because that can't be changed, moving forward we need to look to the future which is what GH and CB are now doing. atb

Stew can't see it personally as you correctly state we are funded until summer of next year, if we were approaching spring of next year with nothing to show for our efforts, i.e drilling results, then I would say that could well be the case. I genuinely don't think there is a need just yet to place and what would it be for, we are drilling Havieron, EG and undertaking 3D exploration work at FireTower and have the cash to do so. atb

Yes 4 x 2m buys & 1x 3m buy this morning and almost exactly same sells later on. Just wondering if someone piled in on RNS expecting sp spike for a quick and tidy profit from a day trade but then realising that it wasn't going to happen. A few may be selling now to come back in Sept but we are due news fairly soon so personally think it is risky to be out if that news drops and also the size of the buys and sells suggests to me they are from the same investor.

Absolutely Weapon, those valuations from RBD presentation are based at oil $55 so we are looking at nearly 40% uplift at current price ( if $77 ) Huge re-rate possible but we have to wait this year for it. atb

Agree O/Wiser, was typing at time of your post but I think knowing the fund managing background of BOD I think we will be looking at the higher multiples.

Thanks RoyalViper exactly what I was looking for. Just on what we know a potential $170m NPV for Coulter, Corallian, Danube That's without the potential of % of 300 bcf of gas and 45m barrels not taken into account at Parta. Add in the 'deals' Stephen & Sachin working on then it is just a waiting game for many multiples of where we are now. Thanks again

Has anyone got access to the link to post the recent presentation on here. It was the one which included the facts and figures in table format. I am just trying to work out the NAV to Reabold. I believe we have a 35.4% interest in Corallian who in turn have a 51.63% interest of Coulter 30m barrels ( 16m barrels) and 40% interest in Wick 23m barrels ( 9.2m barrels ). That would give Reabold 8m barrels net if calcs are correct ( 35.4% of 16m + 9.2m ) If I am of the mark apologies but the presentation gave a lot of detail and we could actually come up with some accurate NAV for RBD if all goes to plan and thereby an approx. sp, albeit once we are producing. atb

Thanks Daz at least its a start to proving up g/t and as you say narrowing it down to hit the sweet spot if it exists. Woody yes agree also admin could be the term used to cover a lot of preparation work behind the scenes, either way I am confident the money is being spent wisely / in the areas its needed.

Assuming commercial vibility that's the question. Whilst a buyout of a license would give a quicker injection of cash and raise the sp and NAV accordingly I am coming to the opinion that I would welcome a JV above all else as we would get a % of cash but still retain a % working interest to the company. We would see an income in the millions per year and this would / could fund further licenses / acquisitions. If GH is as astute a business man as I think he is he would probably seal a royalties clause that even on a buyout we get 5% ( or whatever agreed) of all gold mined as other companies have done in the past. Havieron drill results next up, and not long away imo. Just need commercial g/t and we are off. atb

That was the point I made twice over , we are currently drilling and spending the money We can't spread ourselves too thin either joebop, best to get one or 2 licenses proven up and then we may get the JV / buyout you mention.

joebop I was trying to make sense of your post which was not very clear and yes I was referring to drilling being the most expensive part for an exploration company not mining which you correctly state. You seem to now be answering your own questions but direct them at me? Read your posts again your main theme is that they do not have a reason to spend money on them now?? They are spending money, they are I the process of drilling??? That's the bit I couldn't understand and still don't.

spot on FB, also I might be dreaming but it would be nice to get a JV on one of the licenses or even be bought out on one of them, smaller one like FireTower perhaps, and that would then fund us entirely for all future exploration / drill campaigns / acquisitions etc. GH wants to prove up 1m oz at FireTower and a lot of if's but it should command comfortably $50 an oz as it is near surface. Imagine the work what we could do on other licenses with $50m considering what GH is doing currently with just �4m or so. My point is we should have proven up and know what we have got on several licenses long before our current cash is used up. That doesn't mean we will be mining it but we will know what is physically there and be able to negotiate with mining companies if results allow. atb

Ok I understand your comment on the licenses but they are spending money? The drilling is the most expensive part of mining. GH has said that drill crews get booked in advance but he has still stated that he expects EG to commence drilling by end of Q2. Havieron drilling probably near completion.

joebop your post makes no sense whatsoever. Some assets longer than others, what does that mean, GGP own all licenses 100%. They do have a use for the money, an aggressive and comprehensive drilling campaign which is already underway. We have just had very positive MMI results backing up to a degree Newmonts DSG analysis so the BOD are not incompetent but working very hard and moving GGP forward in their own right irrespective of Newmont decision. Unless I have misread your post it contradicts what everyone already knows.

Regarding funding surely the important question is what are we spending the money on, and we know the answer. At least 30 drills at EG and drilling already occurring at Havieron so long before funds dry up we will know the outcome of the results, long before.