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Not only that but the job description starts off with
Our vision is to be Miner of Choice for our people, shareholders, host communities, partners and suppliers. With a commitment to our people, safety and sustainability and embracing technology and innovation, we're securing our future success together.
Miner of choice & partners in the same sentence - that only happens if the big boy doesn't put their foot on the throat of their partners - Sandeep needs a good results here but not at any cost IMO.
GLA Paddy
Greatland Gold feature in the podcast released today.
https://ukinvestormagazine.co.uk/greatland-gold-geopolitics-and-technology-minerals-with-alan-green/
GLA Paddy
Callum might have taken a backseat at GGP but still singing the plaudits of Havieron in the Starvest Annual Statement.
https://investegate.co.uk/starvest-plc--sve-/rns/audited-results-for-the-year-end-30-september-2021/202202151148577525B/
"Greatland Gold plc (AIM:GGP), which is by far our largest investment, remained one of our best-performing investments for a fourth consecutive year due to its outstanding Havieron gold-copper discovery in Australia. Havieron's initial inferred resource of 4.2Moz gold equivalent* was announced in December 2020 and the project has continued to develop rapidly with its major partner Newcrest Mining Ltd. The Havieron project benefited from the grant of a mining licence over the 12 blocks, a loan facility that is expected to fund Havieron operations through to the feasibility stage and a pre-feasibility study that was released post-year end**. While Greatland's share price has declined since last year, we have significant unrealized gains and expect that continued expansion will drive further growth at the Havieron project."
Just had a chance to have a look at the updated satellite image from yesterday and while there seems to have been a fair bit of wet weather which causes old sumps and salt pans to fill up it looks like they are as busy as ever to the North of the sand-dunes now - probing into the Eastern breccia and perhaps even to the depths of the SE crescent from these pads.
https://twitter.com/paddygall1/status/1493546735662157834?s=20&t=tjBvdAwZveYEmnJ3r2751g
Still looking for the edges and bottom and maybe even Havierons around Havieron.
ATB - Paddy
Agreed Tex, Shaun has flagged this up on numerous occasions but I think 3Mtpa might be close to the limit of what they can extract through the decline. There might be improvements they can make but I don't think it would cope with 6Mtpa.
Those sort of numbers (and higher) will be achievable when the conveyor decline is approved.
Anyway with 3Mtpa of the high grade Au & Cu that Bamps (and Sandeep coincidentally) has indicated they will be targeting first then there will be plenty profit margin in the first few years of production.
Roll on next week and the highly anticipated upgraded MRE - so relaxed about the outcome - Paddy
It's been a while but today I finally got some nice clear shots of Havieron.
https://twitter.com/paddygall1/status/1491864007048929286?s=20&t=dgBOwb8WkT7jiquBiF98Pg
Still looking for the edges & the bottom - there's only one Havieron and it keeps on giving.
ATB - Paddy
https://audioboom.com/posts/8028906-midweek-takeaway-with-alastair-clayton-executive-director-of-artemis-resources-aim-arv
I haven't had a chance to listen yet but I'm sure Alastair will have plenty of nice things to say about Havieron.
ATB Paddy
Personally (and I know people will say it's worth far more and in the fullness of time I would agree) I would be very happy with anything around the $US 200million mark.
I don't think we owe the full $50M to NCM so we could repay whatever was outstanding from that.
I would like to see Shaun carry on with with the debt finance for the costs of the development of the starter mine - we become a big boy company complete with bank finance available to us. This would demonstrate that Havieron is seen by the financial & mining sector as a bankable asset even before the FS and decision to mine has been made.
Shaun has made no excuses about his desire to increase value from the drill-bit - well with the war-chest that would be available to him he could drill the "bejasus" out of our most likely targets and also I'm sure he's running his eye over potential partners / takeover targets.
Imagine if we were to acquire a small producer - I believe the only criteria we don't fulfil for admission to the GDXJ's bigger brother is to have an income generated from mining activity - if that were to happen then he could build a lot of shareholder value very very quickly.
All IMO of course - Paddy
Yes I agree with that Dip666 and for me the 5% is going to be a means to an end for us - the real value will be unlocked in the remaining 25%. Both GGP and NCM can come out of the 5% negotiations feeling like they've had a small victory and we move on to FS, MRE3, 4, 5, n, and as I said that's when the true scale of Havieron will be laid bare for everyone to see.
It takes a level of faith and trust but Shaun & the team believe as evidenced by the 3 + 1 year vesting and lock-in on their performance shares so I'm 100% behind them all the way.
ATB - Paddy
Well it does seem that somebody / someone is either determined to keep a lid on the share price or there is distressed seller who is being forced to sell at this point - why otherwise would anyone sell chunks of 5 million at a time a week before MRE2 is released - an MRE that has been feted as a "substantial" upgrade on more than one occasion.
IMO -- there is probably zero chance of prising any shares from LTHs at this point in time - people who have held these shares since 2017/2018 or even before are patiently biding their time - I guess the only thing that interested bodies may be doing is trying to supress sentiment so much that when we get the inevitable rise they are hoping that people will sell into that rise fearing another round of drifting SP before the FS at the end of the year.
What they fail to understand is we've all seen it all before and true value can only be achieved by eventually going to production or in the event of a buyout (not my preferred option) and therefore I don't think they will get the bang for their buck that they are hoping for.
Realistically if the MRE2 is 6-7Moz Eq or higher then why would we be back down here again - there's only one reason and I'll let you work that out for yourselves.
GLA - Paddy
Good morning campers - it seems I have had a reprieve. Received this email this morning
"The account has been enabled again. Just refrain from posting links to Telegram and the system won't suspend the account again."
So just for everyone's info - it seems the LSE system is set up to automatically ban anyone who posts any links to Telegram, seems they are trying to control the information that is available to investors who have account here only.
ATB - Paddy
Certainly no expert either but if currencies are backed with gold then relative to the USD, I would think the price of gold would appreciate from it's current position. I couldn't say if it would "fly" or not.
Regardless of whether it flies or not, all we need for Havieron/GGP to be mega profitable all is for gold to stay where it is.
ATB - Paddy
I think the story is about digital tokens and a digital ruble - I don't think it's Bitcoin per say, if they back the digital ruble with gold then it could have massive implications.
https://www.bloomberg.com/news/articles/2022-02-07/russian-billionaire-potanin-says-tokens-can-displace-crypto?sref=Kf0MXoXH
ATB - Paddy
@sandgrounded - it doesn't need to be another gold company. There are loads of royalty streaming companies who would jump at the opportunity to have a nice percentage of Havieron to provide them with a steady income for the next 25/30/35 years so the ball is not 100% in NCM's court in that respect.
That's what Solgold did and it soured the relationship with their major partners so I don't think NCM would want that to happen in their own backyard.
ATB - Paddy
As Dip666 said, I think the independent valuer will only be able to use the same data to come to his valuation as both GGP & NCM use when they submit theirs. Remember s/he has to find in favour of either the GGP or NCM proposal, so s/he wouldn't be able to take any new data into account as that wouldn't have been available at the time.
Just my opinion but I can't see any benefit in delaying the 5% agreement if this were the case.
ATB - Paddy
Nice article in Australian Mining about the "Goldilocks Zone" that can lead to mineral endowments in a region when the temperature is just right. We know this must be true for Havieron and giving the plumbing in the region with the NW trending diorite dykes and the NS trending dolerite dyke I'd say the probabilities of additional Havierons being found are reasonably high.
https://www.australianmining.com.au/news/goldilocks-zone-the-key-to-metal-discoveries/
GLA - Paddy
https://www.vaneck.com/us/en/investments/junior-gold-miners-etf-gdxj/securities-lending/