The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Tweet from Bottlerocket showing that the GGP shares on loan have increased by over 50% - I'm not one for conspiracy theories but the graph on there nicely illustrates the inverse relationship between our SP and the increase in the shares on loan.
Who'd have thunk that?????
Agreed @Dip666, the people that Shaun is surrounding himself with seem to be of the highest calibre and he's on record as saying that he has absolutely no difficulty in attracting these sort of people when they see the "launch" asset that is Havieron.
OK - the market seems to be behind the curve here, but the people in the industry are more than happy to commit at this early stage knowing this is a possibility to get in an this point in the journey to becoming Australia's next mid-tier miner or as Shaun described us - a multi-asset, multi-billion pound company.
So you either take the opportunity to get in while the market is behind the curve, you take your profits at this level, you sell up at a loss or you trade in and out at your own risk.
In the medium to long term this is going much higher - when that will be? I have no idea but I won't be missing it - will you??
GLA - Paddy
Just decided to have a quick look through the GGP Website and found that Shaun has been strengthening his (& our) team even more.
In addition to our two new recruits who showcased on Twitter last week Monique Connolly & Damien Stephens we also now have our own General Counsel lawyer - Matt Kwan
"Matthew Kwan
General Counsel
Matt is a lawyer with over 20 years of experience in private practice and as a general counsel. He joined Greatland Gold in December 2021 as General Counsel with accountability for its legal affairs. Prior to that, he was General Manager - Legal and a member of the executive team at Aquila Resources, part of the project development division of BaoWu. Whilst in private practice, Matt was a senior lawyer at Blake Dawson in Perth and Linklaters in London, where he specialised in M&A, joint ventures and equity capital markets. Matt holds an MA (Oxon) in Jurisprudence from the University of Oxford and is admitted to practise in Australia and England."
https://greatlandgold.com/about-us/board/
Seems like Shaun is very intent on building the team at Greatland for the future, doesn't suggest that he is in the market to sell either the company or our "golden goose" IMO - lots of ability in the company to chase & close deals, how did Northern Star build their company up again???
GLA - Paddy.
PS - another day closer to quarterly results, MRE 2 & results of the 5% negotiations.
Greatland have applied for a new licence - directly to the north of our Black Hills tenement this morning.
https://twitter.com/paddygall1/status/1478759836150026242?s=20
Thanks to Liam for alerting me to this.
There are 4 other companies that have also applied for this tiny plot of land including FMG & RIO - 2 of Australia's heavyweights, must be a pretty good postcode.
We have the lowest number allocated to our application so hopefully that means we are in the box-seats when it comes to the allocation of the license.
ATB - Paddy
Just quickly looking in to wish everybody a very Happy & Prosperous New Year.
It's certainly been a trying year all round on the SP front but as regards progress on the ground and with the company then I don't think it could have gone much better (perhaps a bit more progress on the decline would have been nice but getting to the ore-body safely is the ultimate priority).
As regards 2022 - well there is so much to look forward to, a lot of updates in the first couple of months and then there should be plenty of updates as Shaun and the team decide how best to deploy our capital across our enviable targets in the Paterson and further afield.
Again - Happy New Year to one and all - see you all in 2022 - Paddy
Good morning everyone, I had an interesting email from an Aussie geo contact overnight. We've been exchanging emails since the newgengold conference and I was asking him about the 5%. He thinks NCM will play fair and thinks the industry would call them out if they were seen to bully us.
He says having someone respected like Paul Hallam on the board is a big plus too. He sent me a link to this website.
https://www.valmin.org/
There is a code that the independent assessor needs to abide too and therefore GGP and NCM will also have to. IMO this pretty much nails on an agreed figure.
I won't get a chance to read through this for a few days as I'm heading off to a family wedding today. Can I take this opportunity to wish everybody - even the pessimistic folk on here - a very peaceful Christmas and a very prosperous New Year.
2022 is going to be a good one - I have a feeling in my bones, Paddy
So you are concerned that Shaun & the bod would sell the 25% of the asset that he has described as a better launch asset that the one NorthernStar had for a lowball price from under the nose of shareholders - really.....
Strong looking alteration in the drill-cores from the first Apollo holes - only a couple of hundred metres from the Zipa / Havieron North targets.
Havierons, floating around Havieron!!!!!!
https://www.asx.com.au/asxpdf/20211220/pdf/454bq5xc1gxtgf.pdf
ATB - Paddy
I refer you to the question that Shaun was asked at the AGM that was posted by Punchimup last night - thanks to Dip for the notes from the Q&A.
(Q) - Can GGP be taken over without Private Investor approval?
(A) - The answer is No. Fundamentally, if a takeover bid was received and the BOD thought it warranted being put to shareholders it would ultimately be in the hands of the shareholders. It would obviously have to be a compelling bid, this is a unique ore body with a low-risk pathway to free cash flow.
Ultimately, it's the shareholders that determine bid outcomes but my gosh I think we’d want to extract a premium for an asset of this quality.
So regardless of what offer is made for the company it is you & I - the shareholders - who ultimately decide whether that bid is acceptable or not...
PS - Artemis had a nice bump of 12% last night - Hhhhmmmmmm!!
Greatland Gold has provided an update to the exploration and development program
at the Havieron JV with Newcrest. The latest results have incorporated 24 new
infill and growth drill holes (with all encountering mineralisation, and 19 holes
encountering significant mineralisation - including a highlight of 113.8m @ 3.4g/t Au
& 0.1% Cu from 996m). The majority of recent holes have focussed on infill drilling as
the JV partners look to grow confidence in the resource base ahead of the Feasibility
Study, due next year (following the recent PFS, which only considered a small fraction
of the total resource base). Further, growth drilling has confirmed extension of SE
Crescent mineralisation over 250m from the Inferred Mineral Resource extents.
Drilling continues to assess the depth extents of the SE Crescent which now has
a vertical extent of over 900m. All drilling is now focused on growth programs
(with multiple identified targets) which will continue into FY22E with eight drill rigs
operational, and 90,000m of drilling planned.
In our initiation of GGP, we suggested the key driver for GGP’s value was the
delineation of additional resources, which would support a larger operation to feed
Newcrest's existing plant at nearby Telfer. We believe that the incorporation of
ongoing growth drilling will support a significantly larger development (than the one
outlined in the recent PFS) when the feasibility study is completed towards the end
of 2022E. We believe recent share price weakness makes valuation pushback on GGP
increasingly difficult to justify. Maintain SPECULATIVE BUY and 25p target.
ATB - Paddy
GGP's RNS is out.
https://polaris.brighterir.com/public/greatland_gold/news/rns/story/x52300x
@Sycho - fair enough, it's been a drag but would you have rather that we wait until there was nothing in the bank at all and do a raise at an even bigger discount?
As I'm sure that your aware the 5% negotiations are due to kick off at any point from the 12th, now I'm sure that Shaun has been running the numbers and I'm sure that he has a very good idea of what we should be valued at. If we are going into those negotiations with about £3/4 million in the bank then that would potentially be seen as a position of weakness IMO.
Let's see how things work out over the coming months - Paddy
It's amazing how people's perceptions and expectations can be so easily changed and manipulated when they see their profits slowly dripping away or even their losses slowly increasing.
This time last year we were looking forward to an initial inferred MRE and the original mining proposal, we were drilling at Scallywag, we had about £5-6million in the bank and the SP was going from strength to strength.
This year we have our initial MRE and PFS in the bank, we are looking forward to inferred MRE 2 and the stage 2 mining proposal, we know NCM are drilling at other targets within the 12 blocks of Havieron, we know the inferred MRE 2 will still not include much of the NW Pod, the Eastern Breccia, the Northern Breccia or the SE Crescent Deeps, we have drilled Scallywag and are waiting results, we are waiting more Juri JV results, we have circa £14/15million in the bank, we have assembled a crack team of mining engineers and geologists, we have captured more 100% prospective ground in the Paterson and yet our SP is bleeding heavily.
Nothing that the company have done has caused this to happen - we are on the journey to production, many people aren't prepared to sit and wait, they are impatient and want to take their gains and invest elsewhere will we travel along this road. Good luck to them - I'm not worried about a take-over or a buy-out, the most recent BT printout shows that if anything the PI base at GGP is growing as people continue to invest at these levels even if the II's are not prepared to yet.
That will change at some point and I intend to be fully invested when things turn around.
GLA - regardless of your decisions - Paddy
Sorry guys but I can't agree with you on this point. We didn't start drilling at Scallywag this year until August the 24th, so with the assay delays that every explorer is suffering we are still not overdue results from there IMO.
Shaun has done multiple investor briefings with LSE, Proactive, Investor Company Meet, etc and for most of those he's stayed up and done them live and taken live questions.
I'm more than happy as a PI with the communications that comes from the company, they've upped the Twitter and LinkedIn content and the recent presentations have been in a different class to what we've had before.
I understand that Shaun has been at the helm through what has been a difficult period for us SP wise (looking at my portfolio balance reminds me every day) but I don't think there's much more he could have done since taking over IMO.
I'm happy to see how things develop over the coming 12 months when he can really be judged.
ATB Paddy
I think you're looking in the wrong place Tom.
https://www.amec.org.au/about-amec/amec-awards/
They haven't put the 2021 award winners on their website yet but DeGrey won for their Hemi project.