Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Absolutely marvellous - looks like the HGZ crescent zone is slightly bigger now?
Results outside all reported drilling so far, open in all directions and at depth still. BLIMEY, never ceases to cause my jaw to drop.
MH
Nice to see the broker note today, missed it earlier and the late pop at the close was what caught my attention - good to check in and see many faces, old and new. Still long and strong since the early days of 2018/2019....hard to beat the economics offered by Havieron; a fact not changing anytime soon.
Still very excited for the rest of the year and the major milestone PFS towards the end of it...these milestones will fall like dominos, each more important than the last as we approach full on preparation for mining this resource and SD establishes GGP as a producer with a hell of a lot of free cash flow coming our way.
GLA
Well said Bamps.
It takes courage to hold even when the siutation is as promising as GGP's. Think of the value being unlocked down under as we write on these BBs. Much much more of this story is yet to unfold and I look forward to welcoming SD and hope GH keeps in touch with the company.
GLA
MH
Within the South East Crescent and Breccia Zones, 23 infill drill holes have been completed for the reporting
period, including 18 holes which returned assay results since the 10 December 2020 update. These infill drill holes
(included within the Inferred Mineral Resource boundary) are in line with expectations and increase the confidence
in the continuity of higher grade mineralisation.
GLA
MH
As a result having thought about it more I don’t think i’ve ever been as bullish about GGP as I am today, despite Scally - I’m not even fussed about the Juri JV. It is Havieron that is the key to everything. I don’t see an active, corporate guy like Shaun sitting around waiting for potential results to come in from our greenfield exploration programmes at our various projects (more likely he will divest them tbh). Like at Northern Star I think he will leverage the company’s assets a step at a time, in this case using the fantastic economics offered by Havieron to take the first step of really moving GGP into the producer league and out of the explorer league. This will be done by supporting the financing of any new acquisition(s) of small-mid cap, well run mines, with our sizeable asset and look to achieve a high and quick level of return by drilling out already proven resources and getting them mined in quick fashion. Early on in his presentation Shaun talks about the work of Northern Star’s Business Development team in identifying possible suitable acquisitions - and this should be something to look out for. This style will probably require greater institutional involvement and will take time and is the exact reason why we see a movement from impatient to patient hands of the shares.
Think about it - Havieron is great but for GGP it doesn’t offer any real work to do - it’s in Newcrest’s control and GGP is a major beneficiary; but Shaun Day is not someone who just rests on his laurels, he is a man of corporate action, and as I said before I can’t see him hanging around waiting for speculative exploration results to come in while Havieron is shining. Therefore value creation and recognition for the shareholder is not likely to come about through potential hit and miss exploration programmes (though this would be great don’t get me wrong), or at least relied upon so heavily with Shaun in charge. I would posit that a lot of frustration on the chat over the past week stems from people thinking GGP was nearing its true current value when it was in the 30s, although un-risked increasing to upwards of 60p (we saw all the DCFs and subsequent discussions etc) and felt a general sense that future big increases in the share price were becoming harder to foresee and there was an air of an unsustainable situation being apparent. That is why i’m bullish on GGP and Shaun Day, because his appointment is an inflection point, a sign that GGP does not intend to stand still, but move things forward in a way that Shaun has experience in being a major part of.
So, I am putting it out there that I think GGP will be making at least one acquisition in the next 12-18 months and will look to replicate a sizeable rise in underlying gold reserves and asset values that was seen at Shaun’s previous Gold mining company. Corporate action is the way forward and Havieron is the fuel.
GLA
MH
Presentation link:
https://www.youtube.com/watch?v=pRlshVfcnh0&feature=youtu.be
Just to change the topic from the intra-day share price movement for a second, I wanted to see if anyone else had been thinking the same thing: The Scallywag results have reminded us all about the nature of true greenfield exploration and reasserted how incredible GGP’s position is with the Havieron discovery.
The events and upcoming year made me think about GGP’s path going forward and the role of Shaun Day, the new incoming CEO. I urge everyone to (re-)watch and listen closely to his Northern Star presentation, the link for which I will post. In it he emphasises the style of management at NS, as being about “business first and mining company second”. He goes on to detail how through organic growth involving the acquisition of the likes of the Pogo mine, and drilling out the resource there to uncover multiples of the Au Oz content in situ, as well as at other places like Jundee, the NS management massively increased the profile of the company, value and its market cap. This focussed on having discipline around the financial returns of assets acquired and ensuring that each year they walked up the company’s reserve life i.e. drilling their projects to such an extent they grew the number of oz in reserves faster than they could mine them out (listen to his comments on the Paulsens mine).
A major part of this strategy involved acquisitions. While he was CFO 10/2014 - 12/2019 there were as many as 6 acquisitions (Jundee was just before in May 2014, transaction settled July 2014, but he would have been immediately involved in seeing operations were financed properly upon taking his seat on the board is my thinking, so I have included it as we know executive recruitment takes a few months). This strategy enabled massive growth over several years and put NS into its strongest financial position it had ever been in - also if you haven’t checked the share price for Northern Star between SD’s start and end date as CFO it’s worth it.
Happy New Year all - just popping in after being away for a while - good to see Havieron and Newcrest racing along. Very excited for the maiden Juri JV programmes to start and of course to hear the Scally news. 2021 to be a good year for the POG and Newcrest need to get that gold ASAP!
Holding back on my ideas for what could happen for GGP is Scally is a hit...suspense is killing me. Hands under bum anyway for Hav.
GLA
MH
That deal was done quick - lovely $160 million Christmas present - can't wait for Q1 now. consideration being paid is roughly twice the mcap?
MH
GH was the reason I held on and invested more after the EG palava back in 2017. His vision and clear interviews offered reassurance and encouragement for PIs to fully comprehend the gravity of the results as we received them from Havieron and there was that period the market barely took notice. It was he who has driven GGP so well and got us to where we are today.
GH did say almost a year ago that he would likely not still be here once we reached a certain point from a value perspective and also from an operation perspective as we transformed into more of a producer/developer/explorer hybrid so the only surprise here is the timing. His endorsement of SD I take as encouraging, as are SD's credentials and history and I have faith that GH will have recognised talent and vision in SD for him to have been selected as his successor.
I wish GH all the success in the world for his future - i'm sure he's still got much more to give wherever he goes after February/March and I for one will be paying great attention to wherever he goes.
Looking forward, i'm still incredibly excited for GGP's future. This next couple of years looks like it will be the real company making ones, where we establish ourselves as the part owners of a world class tier 1 Au-Cu producing asset and become recognised as such, with great potential in our other assets that we are in the best position to get value out of that we've ever been in.
SD has big shoes and expectations to fill but I'm sure he's more than capable. In short, I agree with the sentiment i've seen elsewhere and recognise the new appointment as a great positive - GGP is growing up!
GLA
MH
Decent size after hours buy shown up, 300k shares at 5.7p - similar size buy earlier today at 5.79p - someone accumulating?
Hi Shed,
Still holding on to my EUZ tickets and have enjoyed reading some of your posts recently in the past couple of weeks. It has been a shame the Bara report didn't get things moving a bit SP-wise but like you say it's a long game and if one is to succeed here one must be willing to be patient. You are right about AIM stocks and their polarisation. Still think in the grand scheme of things EUZ is undervalued - it's just unloved as the attention of most PIs is elsewhere, and management need to keep things steadily moving forward and making the picture clearer to see of the route forward and for a monetary reward.
GLA
MH
Hi all,
First poster on this board but have been in GGP and Pure Gold and now looking for another early and undervalued company with good assets.
Seems like things could get pretty interesting here in the next few weeks/months with the sale and what will be done with any and all proceeds. Looking at the company's projects it seems Beutong is fairly well developed already with its JORC resource which looks like it still could be easily be expanded after the KSK sale. However, it looks like the company haven't touched the project (Beutong) or done much with it since March 2019, am I right in saying that?
Contemplating dipping my toes in so I welcome any info anyone is kind enough to share, thanks!
GLA
MH
Unsure if this is a new video but it's at the bottom of the page in the link below - things looking good for the future, as Darin says in the video foundation being set for upside here going into production.
https://www.fmp-tv.co.uk/2020/12/07/pure-gold-drilling-uncovers-further-high-grade-gold/
GLA!
MH
Still invested here, excited for the first gold pour and move into full production coming 2021. Management will hopefully continue their good work.
As another GGP investor also on this board I do hope there is inclusion in the GDXJ - this provided some sticky fingers and good movement in the SP.
GLA
MH
Just received the link for the presentation tomorrow by "Laurence Read, CEO of Europa Metals, will provide a corporate update, and answer questions from analysts and industry specialists, following the independent Economic Study"
Hope this reaches some receptive ears and helps to continue build awareness here etc - must have something promising/convincing for prospective investors.
GLA
MH
Thanks Paddy - the satellite images are likely going to get even more interesting in the coming months!
GLA
MH
Hi Banker! Also very happy with the news here.
I hate to cross contaminate or use other stocks as examples on these boards, but I was, and am still in, GGP from the early days. Hell of a stock which with patience, thorough research and an awareness of regional needs has proven to be a fantastic investment and I believe still has much further to go considering the trajectory of its Havieron project and the needs of the gold major Newcrest.
I'm not saying EUZ is likely to replicate success to the same scale at all - we are unlikely to touch the recent £1 billion valuation of GGP here. But look at the fundamentals EUZ has to offer and you see why it is a compelling investment while it is at such a small mcap:
Safe EU jurisdiction of Spain also in need of more economic activity - see the good relations with local government and recent government grant to EUZ which is already being put to use in work towards the PFS.
A sizeable resource which looks to still have room to increase in size and so far has some highly encouraging economics which a PFS and further work will hopefully prove up even further. So far though, grades, recovery rates, and ore size looks very good.
A commodity market buoyant on the needs for the infrastructure spending post Covid and for the global and local economic recovery.
A geopolitical race to secure access to natural resources and invest in local exploration of metals especially (see EU and US strategies to reduce dependency on China)
Also of note is the change to the mining method highlighted in the Bara economic report to Sub-Level Longhole Stoping ("SLOS") mining method selected - more efficiencies being uncovered and consider still that areas or the project "remain open at depth as well as to the east. Such open areas have not yet been subject to structured exploration".
I think the investment case is there so long as the BOD can further shore up confidence in the project, let today's report do the talking and carry on their good work towards PFS and present the company well to investors. Patience and conviction will see the day I reckon. For such a low mcap, basically not even £3m when you exclude cash, this company an is appealing case.
Encouraged for the future - make sure to DYOR.
GLA
MH
Very pleasing news this morning here from Europa.
LR has a very strong pitch to investors - you can see it in his video interview - now with this independent economic report behind him and the de-risking of the project gradually being achieved. Size of the resource, even priced at a significant discount provides for a much higher market cap than the current one.
Results to date, the PFS yet to come, and better PR will get this on investors' radar hopefully.
https://www.youtube.com/watch?v=eIKtHaon-as&feature=youtu.be
GLA
MH
The Company expects to shortly be able to announce the findings of Bara Consulting's independent report containing 'updated economics for the Toral Project and an outline of the key parameters for a Pre-Feasibility Study ("PFS"), certain elements of which are already underway.
Furthermore, Europa Metals' operations team is finalising plans for a combined resource and metallurgical drilling programme, which will thereby enable draw-down of the initial €163,380 tranche of the CDTI grant, details of which were announced on 19 October 2020. The Company is also progressing its hydrogeological programme and its geotechnical and environmental/waste management workstreams.
In response to the ongoing COVID-19 pandemic, Europa Metals will continue to place the safety of its workforce above all other considerations and closely follow the necessary instructions and regulations stipulated by the relevant governmental authorities. Any material changes to the ongoing work programmes will be reported to the market as appropriate; at this time, all work streams remain on schedule.
Laurence Read, CEO of Europa Metals, commented:
"The renewal of our Investigation Permit for Toral for a further three year period follows the successful completion of the designated application process, and serves to demonstrate the supportive and cooperative development environment for appropriate metals projects within the Castilla y Leo´n region in Spain.
"With the Investigation Permit secured until late 2023, we shall now progress the further definition of the intrinsic value of Toral as a high grade, robust lead, zinc and silver project. It is anticipated that the independent updated economic study shall be concluded shortly, bringing together all the significant work completed at the project since 2018 and providing a detailed outline of a mine development model and related economics. On the ground, we shall now look to finalise our plans for our next drill campaign in order to commence this important element of the PFS work programme.
GLA
MH
The new 250 person camp at Havieron looks like it is nearly finished or at least filled with the prefabricated units judging by the new satellite image today as well.
MH