Member Info for news

Going into the close at 16:10pm, Wed 10 Oct 2018 after 1.55pm RNS, again no live quote for 100k or 50k shares.

on this historic today, Mon 10 Oct 2018 [1.55pm RNS-EWT Update on Horse Hill].

now at 15:58pm, Wed 10 Oct 2018 at HL [After RNS 1.55pm UKOG EWT Update at Horse Hill].]

HL will now only sell 5,000 UKOG shares which is £103 approx. @ 15:51pm, Wed 10 Oct 2018 [After RNS 1.55pm HH EWT Update].

shares even though NMS is 200,000 at 15:49pm, Wed 10 Oct 2018. Please check via Dummy Live Quote.

.And the game hasn*t even really got started on the #GATWICK GUSHER."- 1 hr ago, David Lenigas, Founder of UKOG plc. This tweet embeds the UKOG plc tweet on the EWT Update flow tweet.

https://twitter.com/DavidLenigas

Wed, 10 Oct 2-18
UKOG plc RNS Horse Hill-1 EWT Update at 1.55pm.

IMPRESS, UKOG shares rise."- Proactive Investors, 4 mins ago, Wed 10 Oct 2018
https://twitter.com/proactive_UK

[After RNS-Horse Hill EWT Update]

"Horse Hill Latest: KIMMERIDGE & PORTLAND set to make Horse Hill one of the UK*s LEADING Onshore Producing Oil Fields, says CEO Steve Sanderson." https://twitter.com/UKOGlistedonAIM

55 mins ago, Wed 10 Oct 2018

A HISTORIC DAY FOR BRITISH ONSHORE OIL.

UKOG plc RNS-EWT Update on Horse Hill - 1.55pm RNS caught the mkt out?

Wed, 10 Oct 2018 at https://twitter.com/OilPriceHourly

UKOG plc RNS - Horse Hill -1 EWT UPDATE, 10 Oct 2018

continuous flow 563 & 771 bopd vs 464 bopd in 2016 via 5 hr total flow. [KIMMERIDGE 3]
2) 0 water formation.
3)PERMANENT PRODUCTION TARGETED FOR 2019.

UKOG RNS, Wed 10 Oct 2018 [1.55pm] - Horse Hill EWT Update

& NATURALLY to surface.
2)Sweet 40-41 API.
3)SUSTAINED RATES exceediing..
4)4 Tankers exported to Fawley Refinery.
5)Kimmeridge 3 result- increasingly likely KIMMERIDGE & PORTLAND SET TO MAKE HORSE HILL ONE OF THE UK*S LEADING ONSHORE PRODUCING OIL FIELD."

UKOG RNS: Horse Hill-1 EWT Update, Wed 10 Oct 2018, 1.55pm.

The Ernest Giles prospect in W.A was a legacy project. The co recently drilled to test both their own prospect/s and that of the prospect identified by the deep sensing tech of the said major.

Greatland Gold is an exploration co with several prospects so that it is hedged ie not just one project. Like all explorers, they are looking for a significant find or ideally a MAJOR find. Same with any co eg Antipa - they have a JV with Rio nearer to Rio*s rumoured find and lots of licences of their own NEAR TELFER at Paterson, W.A.

It is common sense that where GGP have such good results at Haverion and Blackhills, they concentrate both time and money here. The reference article: "Finding the Motherlode" -ii by Lee Wild in an interview with Gervaise Heddle.

Newmont is NOT represented in Paterson or pegged land & therefore, this is outside their scope. Rio, Fortesque etc are pegging land in Paterson.

EMPIRICAL EVIDENCE
From what I have seen, junior explorers that may be on to a MAJOR find do NOT generally want a JV. Any examples? Yes, Solgold rejected the Oct 2016 proposal from a major to take 75% of 85% of the licence. N.Mather said that we do not give it away. So, if a co has the funds to drill to prove the prospect, they do so. If they do indeed JV later, then the major will have to take in a higher mkt cap as now evidenced. Solg went from £8m cap [1.5p] to 32p currently {some £540m mkt cap}. The proposal was to buy Solg shares and spend X amount on drilling and nothing else.

Solgold was in a JV with the co that is on everyone*s lips on this forum and the hot topic of conversation. This major walked from Solgold in the Solomon Islands in 2012 after spending US$19m so there is the fine print that they can walk at any time. Management is run by different people and they have different strategies. The share price fell as a result. Solgold then went on to Cascabel. Same with ALL junior explorers.

So, a JV may be over-rated at any early stage? Antipa mkt cap is below that of GGP - compare results at Paterson and that may be the reason possibly which is generally known.

Ernest Giles is history now and the interview with ii is a proving piece at this time.

Even in a JV, any explorer still needs money to continue operations. Greatland Gold is using the funds to drilling 10 holes on top of the 4 already done at Haverion. It needs to do 24 DRILL HOLES at Haverion {ref: ii said article1}.
Any examples? Dr Bruce Rohlach said to do 23-24 holes and by Hole 16/17, Maxit etc came in.

Have never heard of Oyu Tolgoi been JV*ed at the exploration stage. Friedland raised funds to drill.

Hope this helps. Not critical to anything as history now and just general observation from some empirical seen personally. Every project will rise or fall on ITS OWN MERITS.

DYOR. IMHO
Just answering as it is going on and on when Ernest Giles is now history. Hope we can move on. Thanks.

PaddyGall

Ref: https://greatlandgold.com/paterson/

Referring to what you mentioned, I had a look.

My observations are:
1)The BLACK lines [akin to strokes] represent structure. So, it looks like Scallwag structure feed is from Blackhills ie following the black lines.

2)Haverion, on the other hand appears to be following from the Paterson Range East structure black lines.
This does make sense in that Paterson Range East [100% GGP] is an IOCG prospect.

3)In the Progressive Equity Research Report, they present two sides to Blackhills ie it could be the top of the Telfer type geology or it is a standalone conventional prospect. Things should be clearer with further investigation.

4) Scallwag appears big as represented by big red circles and Haverion is just next door [on the right].

5)The red dot on the map represents "Advanced Project" relating to Haverion.

Just observations which are not "critical".

sicillian_kan

Share forums is a place where people share their research etc.

Equally, people are free to correct and that is a democratic principle.

So, you have shared which presents a balanced view.

However, I do not think the subject matter of Enterprise Value needs further deliberation etc ending in long discourses which the owners of this site may deem unfair or unsuitable to the rest of the investors who want to obtain information on Greatland Gold rather than a long discourse.

That way, all views are represented.

In the article "Finding the Motherlode", ii by Lee Wild, Analyst [link posted several times] of an interview with Gervaise Heddle [prior to the drilling of the 10 holes], it was mentioned that the mkt cap was supported by the Haverion & Blackhils project which at the time was around these levels or slightly a bit higher. However, please check the exact words.

Best wishes.
News, 10 Oct 2018
P.S. General principle of forum sharing.

Progressive Equity Research Broker Note -12 pages on Greatland Gold.

Quote:
"Enterprise Value £39million."

What is Enterprise Value?
"Enterprise Value (EV)- Formula, Definition and examples of EV"
https://corporatefinanceinstitute.com

Quote: "Enterprise Value or FIRM VALUE, is the Entire Value of a Firm EQUAL to its EQUITY VALUE...a co or the theoretical price of a target co (before a takeover). - Corporate Finance Insttitute.

GREATLAND SHARE PRICE TODAY, Wed 10 Oct 2018
1.055p [mid], Market Cap £34 million.

Comment:
Appears to be trading at Fair Value to EV at a slight discount of £5m.

PaddyGall,

Thank you for the link to the full 12 page Progressive Equity Broker Report on Greatland Gold [Haverion - Blackhills]. Recommend with thanks.

Some takeaways: [In note form]
1) Enterprise Value £39 million.
Currently, at 1.055p [mid], the Market Cap is £34.05m. Wed 10 Oct 2018.

2)Well FINANCED with £4.5m in cash or cash equivalents & NO debt at end of 2017.

3)"The 3rd style of gold copper mineralisation being sought in the Paterson Province for IOCG [Iron-oxide, coppper & gold]." Example Olympic Dam.

4)Hole HAD 002 - 4, Haverion : Appears to have intersected PERIPHERAL.
"GRADES INCREASED with DEPTH."

5)Telfer style is another geological formation sought in Paterson Province.

6) Mention of all the other Australian co*s prospecting & drilling in the Paterson Province, Western Australia which is the standard method of benchmarking.

7)Barry Fitzgerald*s article from Resource Rising Stars mentioned relating to Rio*s rumoured find.

Comment:
As for finances, Greatland Gold had £6m from the latest prior to the Hole 6 drilling of which the driller took part warrants at 2p, valid for 12 months. However, please check as the figure is from recall.

PATERSON RANGE EAST
Greatland Gold, Paterson Province, Western Australia

"Greatland Gold has THREE -----100% owned----- licences in Paterson Province- HAVERION, BLACKHILLS & PATERSON RANGE EAST-covering 385sqkm in ALL." [Ref:"Promising gold-copper exploration in the Paterson Province-Progressive Equity Research-12 pages]

-STILL TO COME. Gervaise Heddle mention Paterson Range East in his 3 Oct 2018 ShareTalk Interview.

FROM GREATLAND GOLD WEBSITE ON PATERSON
https://greatlandgold.com/paterson/

"Alteration & mineralisation of those targets which have been DRILL TESTED at Haverion & PATERSON RANGE EAST display similarities to IOCG type deposits. Examples of this are the LARGE OLYMPIC DAM and Ernest Henry. in central and eastern Australia.

P.S.
In the Progressive Equity Research Report [link provided within this thread], they mention Rio: "Rio is rumoured to have made a potentially Significant GOLD-COPPER DISCOVERY."

It was reported elsewhere as a big copper discovery. However, since Rio*s deposit is in the El Paso Structural Corridor to GGP*s Haverion, it is not surprising that it is GOLD-COPPER. The said structural corridor map has been posted before from Antipa*s Diggers & Dealers Presentation of Aug 2018.

Please check. DYOR.
Tues, 9 Oct 2018

BLACKHILLS, Paterson Region
[Near Telfer Mine]

"PROMISING GOLD-COPPER EXPLORATION IN THE PATERSON REGION."-Progressive Equity Research, 12 pages by Christopher Legg.

Quote:
"Greatland Gold acquired BlackHills in Nov 2017. Located 30km East of the Telfer mine, the co is targeting Telfer-style mineralisation. Initial exploration in June 2018 identified VISIBLE GOLD in Outcrops, and GOLD NUGGETS in sand nearby, suggesting VERY HIGH GRADE MINERALISATION -------R E M I N I S C E N T--------of the UPPER PORTION OF THE TELFER DEPOSIT."

{Comment: Research Tree has now made available Broker Reports to registered users. Normally, broker reports are NOT available to investors. I could not access the Progressive report earlier. However, Research Tree has provided a preamble free to read. If anyone can access the FULL report of 12 pages, could they kindly share. Thanks.
From the info, the Progressive Broker Report was written just before the start of Phase 2 drilling, Haverion.

So, the UPPER PART OF THE TELFER deposit vs BLACKHILLS, Greatland Gold in Paterson Province, Western Australia.

<>HOW BIG IS THE TELFER DEPOSIT?
Map: Link: https://greatlandgold.com/paterson/
Answer: From the map, Telfer Mine----------27 MILLION OUNCES OF GOLD-----------------

Comment:
So, the above is relates to the UPPER PART OF THE TELFER DEPOSIT and the "Instrumentation & Monitoring of CAVE Initiation at Telfer Mine by M.Di Giovinazzio & U.Singh, Newcrest, Australia has already been posted WITHIN this thread. {Click Reply and it opens up the thread to read}.

To-recap: Telfer: -1.6g/t Au gold & 0.35% Cu copper.
-Extends Vertically over approx 1,500m
-Sub-surface commencing at 850m BELOW SURFACE.

So, cave [deeper parts] of TELFER MINE {CAVE} VS GREATLAND GOLD HAVERION [Hole 1-4, Phase 1 drilling & Hole 5 results just released}

It is common knowledge that Telfer has the more surface parts as above and the deeper parts {cave}.

Link: https://twitter.com/LONDONAIMCAP/status/1049689281768431619

Please check. DYOR.

P.S. Read the Progressive Equity Research Report - IT SHOWS WHERE INVESTORS DID NOT REALISE that the other hole results {Hole 1-4 Haverion} also RATED.

GGP:HAVERION, Paterson Province, Western Australia.
Phase Drilling:1-4 Holes.
Phase 2 Drilling -10 Holes [Hole 1 initial results out on 1 Oct 2018]

Ref: "Greatland Gold Interview: Finding the Motherlode."-ii, 26 Sep 2018 with Lee Wild, Analyst.
Link: https://ii.co.uk/analysis/commentary/greatlandgold-interview-finding-mother-lode-ii506844

I recall the interview mentioned 1 Hole EVERY week. In the GGP 1 Oct 2018 RNS re: Initial result for HAD005 [Hole 5], it said that Hole 6 had commenced.

So, Mon, 8 Oct 2018, Hole 6 core should have been COMPLETED?

Please check. DYOR.
Mon 8 Oct 2018