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Agreed Dip - there are some quarters where it's 12 weeks between quarterlies, some 12 weeks and this one is 14 weeks. The interims have different time gaps depending on which quarterly we are expecting.
Expect drill results next Wednesday night for me.
ATB - Paddy
@Jamesp21
"There is quite clearly something at EG and Newmont Aus. were well aware of it and intended to progress with exploration. They might not get another chance if we go it alone. Excellent to see things are moving there."
I delighted to see we are moving back to EG. That brings my involvement full circle as I first invested in 2017 when Newmont were carrying out their DSG surveying on the Meadows target. They decided to walk in early 2018 but with the proviso -
"Newmont has informed the Company that its current corporate priorities are largely focused in other districts. Consequently, it has informed Greatland that it will not be proceeding with the project at this time. "
https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xlp2y3r
There was a lot of discussion around this at the time and GH was visibly shaken by Newmont's decision - I think he was convinced by the reaction of the Newmont Aus people that they would continue with the JV but the decision to concentrate elsewhere in the world was taken at a higher level. Anyway GGP have hung onto these tenements and consolidated more licenses in the area over the past few years.
Both Callum & Shaun have great hopes for the area and getting another A$180,000 towards the drilling costs will be a very welcome boost - remember the cover here is roughly 100-200m so nowhere near the costs associated with drilling at Havieron.
GLA - Paddy
Good morning all,
Big day coming up today for the future of our small AIM minnow that Shaun has designs on being the next Aussie mid tier miner.
I'm reasonably confident that the resolutions will pass but it will be a great relief to see the RNS that confirms this. Most interesting will be whether we hear what the offensive plans Shaun has in mind once we can announce that we are fully funded.
Exciting times ahead, wouldn't want to be short here in the future, the newsflow could be thick and fast.
GLA Paddy
#FullyFundedFriday
Seems like a poor service from HL - My accounts are with AJ Bell and IG Markets and I had emails from both telling me there was a corporate action that needed to be addressed. You could vote online with AJ Bell if you wanted to vote either "all for" or "all against". If you wanted to split your votes you needed to send them a secure message.
Very simple to do and no reason to "not bother"
Sorry - forgot that we need to repay the NCM loan out of the funds too so there won't be as much in the kitty as I thought in the post below. Not sure how much of that will be expended and the interest we owe on it but it still leaves us with a healthy bank balance until FCF.
Listen to Shaun's explanation again of the finance deal.
He stated that GGP's share of the capex from the PFS would be US$98m. He said there would be a slight increase for the FS upgrade to 3Mtpa but the capex costs like the decline, surface infrastructure, etc would remain the same. So if we allowed another US$30m for that.
We have raised US$230m between the Wyloo & Tribeca equity & the debt finance from the banks (which we don't make a repayment on until 12 months after first ore) so that leaves Shaun with a war chest of roughly US$100m.
If (when) Wyloo take up their warrants and the directors take up their options that will bring an additional AUD$60m and £21m into the company respectively.
I don't think we need to worry too much about equity raises in the near future and if Shaun felt one was necessary then I think there would be a very good reason why.
Happy with that performance - very professional & polished.
ATB - Paddy
It's available to watch now
https://www.goldforum.live/DGG/Greatland-Gold
GLA - Paddy
I can't see it happening - How is Sandeep going to push through an offer at that sort of level after refusing to take the 5% for $60m. That would have set a price discovery that they weren't happy with and said it didn't meet their internal ROI hurdles and then a few weeks later he's going to offer us + £1bn for lock, stock & barrel.
Let's see what happens in the next few weeks - Paddy
@JoeBloggs - in a perfect world that would have been the ideal scenario but how was Shaun going to raise the £60m that he needed to bring the bank funding online without dilution? Another loan at extortionate rates from NCM or some other way?
I dislike the dilution as much as any other shareholder - I can assure you but if it proves to be accretive in the medium to long term then it's probably more acceptable than asset dilution, especially at Havieron where the asset keeps on giving.
I'm not on a free-ride but admittedly I'm still blue due to a low average, but I do 100% feel for people underwater. I was for almost 12 months myself after Newmont walked back in 2018.
Good luck whatever you decide to do - Paddy
Bit of reading this morning
https://www.theassay.com/articles/feature-story/new-land-rush-repeating-history-at-remote-paterson-province/?amp=1
GLA - Paddy
Quick mention for Greatland in today's round-up podcast.
Listen from 55:45mins in.
https://audioboom.com/posts/8159508-the-sunday-roast-featuring-aleksandra-binkowska-ceo-of-hydrogen-utopia-international-aqse-hui
ATB - Paddy
Have a listen to this podcast from about 5mins in - safe to say Greatland is coming onto the radar more & more in Australia.
https://www.businessnews.com.au/article/Mark-My-Words-16-September-2022
Credit to Claire for finding this, ATB - Paddy
Let's hope your brother in law is very wise Rup, but I feel he's spot on mate.
Wyloo and the new board members aren't here to be just part of the 30% of Havieron for the next 30 years. They want in at the start of the journey to Shaun's vision of the multi asset, mid tier miner. They can bring a lot to the table to make that happen too.
I'm excited and looking forward to the next chapter.
ATB Paddy