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DIP666, How much did we sell the Tasmanian tenements to ***** for?

BTW, I think people are honest about their opinions I just think they are being overly optimistic. This is a big risk sector. Even when you find something you have a long journey ahead.

This thread is ramping. Nothing significant has been found. I hope we find something. I also hope the PFS and mine goes ahead for Havieron.

@acechaser If 9 out of 10 tenements fail to have an economical find then it makes sense to have someone else pay for the producing the MRE. This is all big risk. Newcrests dividends are low because they are having trouble funding future developments.

I am invested. That post should have said I may increase my investment.

I now value tenements at £1/2 million pounds. I am being generous. Finding gold, copper is very hard, finding it in economical amounts or that is economically recoverable is very hard. Until we find something a tenement is worth less than 1/2 million pounds. All the tenements other than Havieron, are worth less than £10 million pounds. At Havieron we have found 6mozes of gold. Havieron was also supercharged by Newcrest.
Step 1 - Get a tenement.
Step 2 - Get money to drill.
Step 3 - If you find something get a Farm in agreement with a major.
Step 4 - If economical then raise money to produce MRE.
Step 5 - Then raise money to build mine
Step 6 - Then raise money to go into production.

This is why a tenement is worthless. Treat all GGP tenements like this. I thought the Tasmanian tenements had better prospects. Fingers crossed we find something.

I do not know who is shorting. It seems it is a common practice for institutions and big investors to hedge. Institutions are long term investors but know that shares may drift lower in the short term. Hedging makes sense. I doubt JPM Morgan has a team shorting 50 million GGP shares. Would not pay their Friday afternoon bar bill. The shorting, I am guessing it is an institutional investor is doing a bit of hedging. The price is down because nothing is happening.

Go on that chat page for every share listed by LSE. Doing bad you have posts about JPM shorting the stock. Most peopel shorting the stock are probably long tern investors. Done for hedging.

The price is down as we wait for news or revenue.

The fact Newcrest rejected the 5% suggests the DFS is not a certaininty. The SLOS might go ahead with full mine postponed. The faster we reach the gold the better for GGP. I am of the opinion that it will have a positive affect on the final decision if we can actually touch the gold. Comparing the Antipa low grades results to Havieron make me wonder what the issue is? Is it cost of extraction? Is it the size? Do they expect Havieron to be 30% larger than a normal tier 1 mine to pay for our share? Did the initial delay in tunneling at the start cause doubt about mining this deep? Something is making Newcrest go cold on this project. The price is a reflection of this view.

Yes,

Like I said it is a very good day.

Hopefully the Newcrest meeting tonight, or Shaun next will confirm that the 1800m is the total length. If this is the case it is a fantastic achievement. It 10 meters a day.That means the crews are doing 2 blasts a day.

Trip, This is a very good news day for GGP all invested. Hopefully this progress will keep up. I would like it confirmed it is the actual length by Shaun next week.

Pass the 2000m mark is the next mile stone.

MH01 Shaun is saying the progress is ahead of plan. 10m a day says we will reach the stage 2 position by June. If they are held up at that point they can use the time they are waiting for the paper work to be signed off to buld the passing bays.

Next milestone will be 2000m. Then 2500m.

Culpper, I think the logic is simple.
We are at 1800m now. A kilometer from the ore body. We have some logic abroad that If they decide to widen the entire tunnel they could say the decline is now 3.6 km in lenght. We would still be a kilometer from the ore body. Length is all that matters. 500m in 50 days is an amazing result. At the beginning we did less than 10 in a month. That set us back by a year. As we get closer to the ore body the push to get the paper work signed off will increase. If Newcrest/Newmont do sell Havieron then selling a working mine makes sense. Closer the ore body the more likely Newcrest will start the SLOS mine plan. Leave it to the new owners to decide the block mining.

I disagree Paddy.
300m means they are 6m a day, a year away. 500m means they are 10m a day, a few months away. August they should be digging gold. All the infrastructure is good but nothing beats saying you can load the gold onto a truck. A truck a day while they finish the infrastructure means more than all the passing bays. That's how bankers and finance works.

Excellent. Will need clarity from Shuan that this is not mixed up with passing bays etc. 10m a day means we will be next to the ore body by June. Every extra meter closer to the ore body the better for us. Let Newcrest and Newmount talk all they want to June. The longer they take the better for us. When we are next to the ore body it will be mined. Tier 1 mine, Tier 2 mine or even Tier 3 mine. It will be mined at that point. Be nuts to walk away.

Nope. No need to be. Never ever been to a AGM in my life.

By then it will be 50 days since the last decline update. That was 1319m.
5m a day it will be: 1569m
7m a day it will be 1669m
10m a day it will be 1819m
We will get an idea of the progress.

Have Newcrest lost their enthusiasm for the Patterson region. You can see why Sandeep went. It is obvious that the board has a different strategy than Sandeep. I think Sandeep could see Newcrest needs to invest new mines while Sheery priority is share holder value. Selling to Newmount makes sense to her.

The mood music from Newcrest is negative.

I am invested. The post was incorrect, I meant to either increase or even sell my investment. If I think a big dilution is coming. I said 'IF' for those who cannot comprehend then I may sell. I may be able to buy back afterwards and in doing so increase my holding. FOMO may stop me doing it.

Culpper gets it. I am certain Shaun gets it. The decline is now critical.

@Jerry, Shaun had no need to include passing bays or whatever other infrastructure in the length of the tunnel.
We will see in March. I expect a big increase by then.

Do not love your share they say. The most important thing to me is making a profit. All the knowledge some posters have is meaningless to me if I do not make a profit. The biggest threat I face is dilution. At the moment GGP have the money to reach the ore body within the next year. If this cannot happen then they may need to raise extra funds. That will mean more dilution. If Newcrest/Newmount for whatever reason decide not to continue with Havieron I would be shocked if dilution of some form did not happen. If this happens when we have reached the ore body we could license Newcrest share of the ore to raise the money to buy Havieron outright. If it happens before we reach the ore body we will see a serious dilution in share price.

I expected Newcrest to tell us. I will now wait for GGP update in March. Shuan may tell us the actual delines length rather than words telling us how good it is going. The length will tell me if dilution is on the way.