Member Info for Morningsun

Good points not2sure but have to disagree with the statements made. The RNS will have to be verified against the accounts for that statement to have been approved. Therefore, at the time of writing it had to have been true. End of.

If the planned expenditure has changed in the mean time then that changes things. However, as far as I can tell nothing has changed and were are still on track according to plan. Or have I missed new plans that were not included in the budget statements as made?

As GH has said, he does not understand the negative market response and he has been congratulated by industry experts on the extension of the find after HAD006-HAD009. So to then state that he will raise funds because the 3p level will not be breached (while we are funded well into 2020!!!) is in my view just deliberately sowing doubt based on zero fact. The fact that is has happened to you on other shares is of no relevance to GGP either. I'm sorry it happened to you but Apples and pears and so on.

Just my view of course.

GLA
MS

Silician, do you not read the RNSs?? It's right there. They have the money!!

******
RNS of 1st Nov 2018

'The Group's cash flow forecast for the 12 months ending 31 October 2019 highlights adequate funding at current levels of projected expenditure to last well into 2020. The Board of Directors is confident that sufficient funding is in place to meet all its operational and exploration commitments over the next twelve months and to remain cash positive for the whole period.'
*******

GLA
MS

In the interview GH did say something I forgot to add in my summary.

He said we now have to see what is further North, North East, West and South west. Or something along those lines.

I made a drawing of the drills (location and trajectory) last time we had results and what it shows is that HAD005, HAD001 and HAD007 are on one line.

HAD006 is south and HAD008 and HAD009 are south-East.

Nothing to the south-west nor north for that matter (unless there are older (shallower) drills that I missed).

Moreover, HAD005 and HAD007 were drilled inwards both towards HAD001. In other words, they reached the gold zones much closer to HAD001 than their vertical location. They therefore have still a lot of potential right below them, especially HAD005 as the grade seems to increase in that direction from HAD001.

As stated earlier, the 70 degree inward angles at which these (including HAD009) were drilled were done as such to make sure that the drills proved a gold layer extension and they did. Now we have to fill in with more drills, deeper, and more as well as less distance from HAD001, which now seems to be the centre. However, HAD005 could very well be the centre of our system as there is where we have found the highest grades.
On top GH has said that the magnetics surveys show that the 800m to 1400m depth is where the biggest orebody seems to be and we are just scratching the surface of this discovery.

Operative words: 'Scratching the surface'.

In other words, still al lot of detail to be gathered and we already have a sizeable resource as it seems.

GLA
MS

RTC, you must be better than that.

If you really thought that the Sp would go back to 1p or lower you would sell (every sane person would if that is what they thought) and not sit around simply to be proven wrong. You could buy back in much lower if you were right.

I'm not trying to convince you that you are wrong, by no means, but if I wrote here my conviction that the SP would go to sub 1p I would add immediately that I had sold as well. What would otherwise be the point of the post to begin with, airtime, attention? I hope for you that you at the very least believe yourself ;-)

Conclusion, you're either winding people up or you're full of hot air. It's cold outside so who knows which one is better...

GLA
MS

Some highlights from interview:
- Very pleased with results
- market missed the point of these results. It's about scale which this proves.
- Results show very signioficant depost with multi credits
- we own 100% of it so we make the calls on how we develop
- 4 out of 5 holes ended in mineralisation.
- Very significant system at depth ( 800 to 1400m) so we are really only scratching the surface of this mineralised body
- HAD006 ended in >1 copper and 750ppm cobalt
- HAD009 step out of 350m which shows extrend of system.
- Cannot believe (as in I don't think) out efforts are goign unnoticed
- If it makes sense to shareholders we can take this all teh way to operation. We are open to other options as well though.
- 2 rigs booked for HV to get better sense of structure that we have here.
- Key is you need scale and get large intervals of mineralisation to eb a big and valuable project as we have seen with other projects in the UK (could not properly hear this last part about teh UK reference)

Hhave a listen. Not very good quality at times but same as last interview. Explains what we have and why this is good result.

GLA
MS

seems to be similar to that of Gold at USD 36,000/t where gold is at some USD 42,000/t and hence quite valuable to have.

So for a rough idea of what the added value of the cobalt grades and volumes are you can add the cobalt to the amount of gold. Correct?

GLA
MS

start of the day.
SP seems to be relaxing now and sell is stabilising and slowly increasing above 2p. Now at 2.03.
Bought more this morning (too early btw) but when kept falling got a bit itchy ;-), even on THAT RNS!!! Guess I'm human after all ;-)
Onwards and upwards.
GLA
MS

hovering around the 2.30 sell level all afternoon and now is ticking up. Dummy sell at 2.325 offered.
Different pattern to last week so far. Keep it coming.
GLA
MS

Lee, thank you for your clarification efforts. Much appreciated as always.

Quite a few of these incorrect representations come from FN, a new poster on this BB who apparently was at the AGM. Hmm, new to a share and immediately at the AGM. Now it strikes me as very curious that a very vocal anti AP poster of the last months, Teacup64 has disappeared right when FN has surfaced. Same frequency, same way of 'starting' a discussion. And although FN strikes a different tone for now (nee to their BB), it is clearly a 'clumsy' way to discredit AP. We all know I'm not a fan of AP and that's putting it mildly, but this is too far off and too much of a coincidence.

Out of curiosity I just tried to access the Teapot's avatar and it's not available anymore. Teapot had it's imaginary brother, FN has this Sammy that was sitting close and didn't record anything. I find this highly suspicious.

Be very, very careful what you believe on this BB because there are people with agendas that don't hesitate to print very clever distortions of the truth as Lee has just proven.

GLA
MS

Thanks 1+. That is an interesting interview from several views.

It puts the GGP discovery into perspective in the wider playing field from an experienced mining investment view.

GLA
MS

Haha Spy,
Tried this a couple of times but was corrected by the 'knowledgeable' people on this board that it would be a lumped together release and that that made a lot of sense to do so as well. So, good luck with that. ;-)
GLA
MS

No, that was what actually happened. first down and then up. Now down again. plays like a yoyo.
GLA
MS

it's been like that constantly here this week. Unfortunately can't believe anything you see here. Maybe never could.
Anyway, doesn't matter. Bought for the long term so these issues and don't bother me.
GLA
MS

Exactly Habari, that is why I took the time to thank Stephen for letting us know!
GLA
MS

pfeeew, in the minute to write that post it went form 7.5 down to 2.5 up.
AIM...
GLA
MS

as expected.

AND.... we're down ???!

MS

Well SFU, it raised to 1.58 to buy right in to the close!
Bodes well for tomorrow morning.
What is your expectation of development after the announcement?
MS

Yep, can't buy anything
GLA
MS

No. Discussed this morning. See my earlier post.
GLA
MS

Based on Tiburn's earlier resource estimates I decided to do, basically for my own sanity, my own value calculations to have a feel for what the SP could get up to based on Havieron alone. Please use this to have a ponder over but do not base your investment decisions on it as there are many more parameters that will influence the SP than just these basic ones i.e. further proofing up resource (depth, width, length, grade), further assay results, gold price (well, that is of limited influence according to the experts), bidding war between suitors, copper resource, etc which I am not even going to try to include..
?
General:?
Soil s.g.: 2.32
Gram/Troy Ounce: 0.031
GBP/USD: 0.7576
Min in soil AU price: USD40/Oz (my choice based on research)
Max in soil AU price: USD 90/Oz (my choice based on research)
Shares in issue: 3,226,000,000

Target 1:
Ore body area: 300m*600m
HAD001 Layer depth: 121m
HAD001 grade: 2.93 g/mt
Volume: 21,780,000m3
Mass: 50,529,600 mt
gram AU: 148,051,728
Oz: 4,589,603

Target 2:
Scenario 1, average depth and gr/mt is same as HAD001.
Ore body area: 450m*600m
HAD005 Layer depth: 121m
HAD005 grade: 2.93 g/mt
Volume: 32,670,000m3
Mass: 75,794,400 mt
gram AU: 222,077,592
Oz: 6,884,405

Scenario 2, average depth and gr/mt is same as HAD005.
Ore body area: 450m*600m
HAD005 Layer depth: 275m
HAD005 grade: 4.77 g/mt
Volume: 74,250,000m3
Mass: 172,260,000 mt
gram AU: 821,680,200
Oz: 25,472,086

Value calcs Target 1+2:
Scenario 1:
USD 40/Oz
(4,589,603+6,884,405)Oz *40 $/Oz/3,226,000,000 shares* 0.7576 (GBP/USD)= GBP0.108/share

USD 90/Oz

(4,589,603+6,884,405)Oz *90 $/Oz/3,226,000,000 shares* 0.7576 (GBP/USD)= GBP0.243/share

Scenario 2:
USD 40/Oz
(4,589,603+25,472,086)Oz *40 $/Oz/3,226,000,000 shares* 0.7576 (GBP/USD)= GBP0.282/share

USD 90/Oz
(4,589,603+25,472,086)Oz *90 $/Oz/3,226,000,000 shares* 0.7576 (GBP/USD)= GBP0.635/share

Please bear in mind this is for Havieron only. No value added for the other projects of which some on here state that i.e. Scallywag could be bigger than HV (see Artemis airborne magnetic survey PaddyGall recently posted). I don't know and will wait for proof but the positive indications are definitely there.

In short, it makes me comfortable with my holding (that was what I was after) and adding as we go.

DYOR and thanks to Tiburn for the basics.

GLA
MS