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Updated Corporate Presentation available on the company website.
New slides 5 & 6 cover ASX cross listing plans/possibility of adding high profile Aussie directors to the board and an update on debt funding plans and progress
https://greatlandgold.com/wp-content/uploads/2022/08/GGP-Corporate-Update-Aug-2022.pdf
Looking forward to drilling results and decline progress report on Thursday!!!!
GLA - Paddy
Hi Speedy - I haven't been following the board here for a while so missed your news. I'm glad to see you post just now and delighted to here that Mrs Speedy is on the mend - no doubt helped by your timely intervention.
Best wishes to you both - Paddy
There are other options available to GGP - Franco Nevada paid $100m to Solgold for a 1% royalty on it's Alpala and Cascabel project.
NCM weren't very happy when this deal was brokered and I'm sure they won't want anything similar to happen at Havieron but how much would 1% of Havieron be worth to a royalty streamer over the next 40 - 50 years with exposure to all the exploration upside that is available there.
Lots of options available to SD yet.
ATB - Paddy
Not long until we find out - 26/06
https://twitter.com/GGPHelp/status/1539893592939962369?s=20&t=NuD0_0IBGaYN75hHQbiR5g
#LSExit
Interesting article on the state of the Gold industry and the discoveries that have been found since 1990 through to today - thanks to @Hydro for bringing it to my attention.
The last paragraph was a particular interesting read for me.
https://www.spglobal.com/marketintelligence/en/news-insights/research/gold-rrs-2022-surge-in-recent-discoveries
"Our research into the gold production pipeline shows future supply growth, if any, will be relatively minor over the next decade, with even the most optimistic view showing gold production declining by 2028. Although there are several reasons for this, a contributing factor is a lack of quality assets available for development. While nearly half the discoveries included in our analysis are not yet in production, only 33 have over 10 Moz of gold in reserves and resources — enough for a mine to produce over 200,000 ounces per year of gold over a significant mine life. But many of these assets have a long road to production, including feasibility studies and permitting, making them unlikely to have a near- or medium-term impact on the pipeline."
GLA - Paddy
Had a quick read through - Newcrest had originally earmarked an area in the top left corner for a landfill site. It would seem now that they've decided this is not required and the landfill waste from the camp can be compacted and stored within a section of the Waste Rock Landform (WRL) where the spoil from the decline is being piled.
Good news for us and the environment - less disturbance and costs should be much reduced, which is a good thing as we are contributing 30% at present to the early works costs.
Plenty going on in the background that we aren't aware of and this just proves the point that regardless of what the SP or sentiment is - the building of the Havieron Gold/Copper/???? mine grinds inexorably on....
GLA - Paddy
@Bamps
Havieron was known about in the early 1990s but the drilling technology was just not capable of proving anything up.
A report in the early 2000s suggested NCM look for shallower targets, bearing in mind the gold price had gone through the floor $200-300 an oz making these deep discoveries uneconomical.
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The actual paragraph from that report is shown below ----
"A future approach to exploration of the Anketell tenements is in the process of being formulated. In summary, at Havieron, the 1991-92 and 1995 drilling has succeeded in demonstrating the likely presence of a large gold-enriched mineralised system, hosting, at least in part, moderate-grade (10-15 et Au) + sulphide bearing hydrothermal breccia and vein style mineralisation, albeit beneath +420m of post-mineralisation cover. Given the high degree of difficulty of locating high grade (+20 g/t Au) ?structurally and lithologically controlled zones beneath such thick cover, it is recommended that exploration of this prospect be deferred (but not forgotten!) until other, shallower targets in the Anketell project area and the broader Telfer District have been tested."
I particularly like the last sentence - "that exploration be deferred (BUT NOT FORGOTTEN)" - Newcrest screwed up by not going back there in time. Callum & Gervaise had the belief & cahoonas to drill deeper than before and as Shaun has said on a couple of occasions the timing is just right - not too early that Telfer was still economic and NCM could drag out the exploration & drill-out, but not too late whereby Telfer had been mothballed.
NCM are going balls-out to get the ore into Telfer asap - they are developing the ore-body in the same manner that Shaun would if it were a 100% owned asset which helps us out with financing and cash-flow.
When the 5% and financing are sorted then Shaun will have a base from where to grow the company and the SP will surely follow.
GLA - Paddy
More new drill pads to the North - one just to the SE of the furthest South of the Zipa pads and another just to the West of the Havieron North pad.
https://twitter.com/paddygall1/status/1537342821119713281?s=20&t=8Gf5dLvIisxUwjcyDtC3gg
So even with "no significant assays" reported from the holes up there they still like something - I'd say the odds must be on some "due" East holes to intersect the N/S dolerite dyke at 90 degrees.
Maybe NCM have a couple of million $ that they need to burn up for no reason though :-))
GLA - Paddy
Well worth a listen IMO, 18mins well spent.
https://www.youtube.com/watch?v=Zs3R-fzqL7I
ATB - Paddy
Gold in AUD is pretty stable (only down 1% as opposed to nearly 3% in USD) and I'm pretty sure that's where GGP & NCM will be doing business. Our profits will be in AUD and then translated to £'s so if the £ gets battered then perversely our profits may end up being better.
I realise this is a while away when we are in production but there are a lot of moving parts to the equation and it's not as simple as you make it out to be Hll.
Hi SAS - My understanding is that ISA holdings are not shown at all on BT but holdings in trading accounts & SIPP's can be seen. I have my holdings in GGP across 2 ISA's and 2 SIPP's and I have seen both SIPP holdings show up on BT with the correct number of shares in both. I don't have a trading account so I can't personally verify that but I know some people who have and they say that the numbers shown are about right - allowing for lag in trading activities.
I'm not swearing by it but I think it's a decent tool to use to give a broad idea of where the distribution of shares is generally.
Cheers - Paddy
It was Doublehun but if you look at the date on GH's holding it is still showing the last update on his position as being early 2021. All the other entries are showing current dates. For some reason his position just seems to be stuck. I think the other prints are reasonably accurate - I don't have BT myself TBF though.
ATB - Paddy
At the end of the day Roy - there's not much they can do if PI's refuse to sell up their tickets. They might find they loosen the PI's grip on a bigger percentage of them if they were prepared to pay a fair price.
The big issue is a lot of the bigger holders here are in for averages from less than a penny to 4/5p and having held and added over the past 4/5 years are more than happy to wait it out for the next 12/18 months until we are either in production or we've had a juicy takeover offer.
Shaun said it himself in a recent interview when he said the GGP share price was somewhat asymmetrical at the moment.
I for one will be waiting and watching to see how it all plays out from here - Paddy
Hi @tiggerman, whilst I agree with your sentiment, I can't see that we have had anything but good news for the past number of months. Since the disappointment of the initial Scallywag results (which in reality weren't that bad) which we all hoped would be Hav Mark II, it's been positive result after positive result.
The elastic band on the SP keeps getting wound up tighter & tighter - one day there will be a catalyst that will cause it to snap, whether that be more Hav drill results (doubtful), announcement of agreement on the 5% negotiations, finalisation of the bank finance, a hit at one of our other tenements, NCM issuing an updated MRE, gold price shooting back above $2,000, etc, etc.
Who knows for sure what will bring the sentiment back to our sector and GGP in particular, but there are lots of possible catalysts and time is ticking by every day.
ATB - Paddy
I had a day off from the board yesterday so didn't get to see this thread but I had the following Twitter DM message from Des yesterday evening who by the way I have been in sporadic touch with for years and is a genuine guy.
"Hi Paddy, I think I’ve been banned from LSE for what was a genuine request for info I’m not sure if you’ve seen the post but my friend is genuinely minted and has never dabbled in stocks, he just buys houses (approx 20) and large industrial units (8) oh and he’s just bought a £1.6m house where he plans to have heli pad, all cash!! He is a software developer and Covid has just accelerated his income massively. Just feel bad now I can’t reply to thank for advice received ALB Des"
So I'm just reposting it here to thank people who took the time to reply to him.
GLA - Paddy
Most reputable firms like HL & AJ Bell do not loan out your shares. I'd say the majority of PI's are with firms like these.
It's the ETF's like GDXJ who has over 200m shares that tend to loan them out, so there's not a great deal that us PI's can do apart from buy at bargains levels if you can. As Rick Rule says if you were happy buying it at 20p and nothing has changed why would you sell it at half price - it's on sale and you should be buying more.
Investing is a funny old business - combinations of fear & greed are very powerful emotions and the algos and players know which buttons to press to cause the maximum pain.
GLA - Paddy
Yep - right on the money @Ham123
https://ibb.co/fqjFkXx
Look at the divergence on the chart from yesterday - just as we were moving up the corresponding increase in the shares on loan up to 64m and stalls us.
Interestingly though - they are getting less and less bang for their buck now. They will soon be up to 100m at this rate and the SP is coiling and coiling nicely.
There's a hell of a lot of eyes on here now and they know when it goes, it goes big time. Imagine all those traders piling in to force their hand - I'm so looking forward to that day.....
ATB - Paddy