Member Info for SpadesAspade

Forgot the B for Billion.

Hi Bamps, yes I knew what he was suggesting, but surely when they’ve estimated a $1B dollar clean up bill, and we all know what estimates do ! I just think to myself why pay anything.

If we do take it on, we immediately have to allocate that $1B into our liability column on the spreadsheet.

Like SD said, even if he only paid $1 for it, in effect, we’d be paying $1.00000001 for it.

StuWoo, why would you give 2% away for something that isn’t worth anything.

Telfer comes with a huge decommissioning costs.

Please explain your reasoning !

Old Shaun Day bought the farm

Ee i ee i o

And on this farm he had some friends

Ee i ee i oh

With a Wyloo here

And a Wyloo there

Here a loo, there a loo

Everywhere a Wyloo

Old Shaun Day bought the farm

Ee i ee i o

Old Shaun Day bought the farm

Ee i ee i o

And on this farm he had some ducks

Ee i ee i o

With a quack-quack here

And a quack-quack there

Here a quack, there a quack

Everywhere a quack-quack

Old Shaun Day bought the farm

Ee i ee i o

Old Shaun Day bought the farm

Ee i ee i o

And on this farm he had some banks

Ee i ee i o

With a bank-bank here

And a bank-bank there

Here a bank, there a bank

Everywhere a bank-bank

Old Shaun Day bought the farm

Ee i ee i o

Old Shaun Day bought the farm

Ee i ee i o

And on this farm he found some gold

Ee i ee i o

With gold-gold here

And gold-gold there

Here’s the gold, there’s the gold

Everywhere there’s blumming gold

Ee i ee i Ooooo

And don’t forget the Copper

Mibb, I’m sure in time Havieron will be a Tier 1 mine.

Maybe not right now, as the existing decline is just not suitable for extracting the amount of ore to achieve the magic 500,000 oz per annum Newmont want.

YNWA, we’ve not gone away, you don’t need to fret about that.

I certainly don’t count myself as being one of the experts, as you put it, but I will admit to being absolutely gobsmacked, that Newmont have decided to divest Havieron.

Where does that leave us now ?

I’ve absolutely no idea, until at least a lot more facts come to light regarding what plans Shaun & the rest of our BOD’s have up their sleeves going forward. So until one of Shaun’s champagne corks hits me straight between the eyes, I certainly won’t be doing any celebrating anytime soon.

I don’t think it’ll be great news for anyone holding the baby right now.

All I can see is an opportunity for them to drop the SP even lower.

Can currently only get a quote to sell upto 75,000 and absolutely waste of time trying to shift anything significant.

Oh well, suppose we’ll just have to be even more patient !

If anyone isn’t quite sure about which direction GGP are heading, then look no further than SD’s former employer Northern Star.

Since June 30, 2004, Northern Star Resources's market cap has increased from 5.25M to 15.11B, an increase of 287,511.40%. That is a compound annual growth rate of 49.96%.

That’s why SD has assembled this particular BOD’s, because he is trying to follow the same path as NS, but with a far better asset to kick things off.

He may or may not succeed, but at least he’s having a go at replicating that same success. Time will tell ?

Reaction, I totally agree with all you said in your post.

For me, it’s a matter of learning how to walk, before attempting the 110 mtrs hurdles.

Like you say, GGP should be laser focused on delivering Havieron asap, and only then, once the bank balance starts to fatten up like a Christmas Turkey, should we be spending any funds on purchasing anything else.

Just can’t understand what the rush is, as even if we do find something else tomorrow, it’ll take at least a decade, before we produce anything from it.

I understand that our SP would go on a bit of a run, but first and foremost, bring Havieron on line first, then go and drill to their hearts content once funds are available from profits and not from capital raises.

Dip, surely Tymers isn’t still banging the drum for ukog after all these years. Especially after today’s 90% fall.

Zoros, that’s the problem with some on this board ! They read a thread, then post their interpretation on something they have no knowledge of, and don’t bother to research the subject, making themselves look like idiots, who after all this time being invested, should no better.

Spend 30 minutes a week reading all previous RNS’s, and then you should know as much as the next person.

Just can’t understand why some don’t even do that, especially when they’ve put money in.

Ostrich head’s & sand springs to mind.

Full report here

https://files.constantcontact.com/bbfc9f09501/ec0b6733-96b1-4735-8e0d-ee46edf27346.pdf?rdr=true

Gold Mining Stocks, A Clear and Compelling Investment Case

January 11, 2024

We offer herein an investment rationale for gold mining equities that rests primarily on investment fundamentals particular to the mining sector. Speculation on the future course of the gold price takes a back seat. A tailwind from higher metal prices would, of course, be helpful but in our view would only add heft to an already powerful investment case.

1. Extreme Undervaluation

Gold mining stock valuations are the lowest in 25 years. The spread between the gold price and the discount implied to spot based on the market price of the equities is a massive $700+ per ounce. In other words, cash flow from a gold price 65% of the current spot price would return the entire market value of the group based on existing reserves. BMO calculates an average return on capital of 14.4% for mid-capitalization producers and 25.8% for small-cap producers in a semi-liquidation scenario (see Figure A2). We believe investment returns would be substantially greater in a full liquidation scenario,

which would assume the elimination of all discretionary capital spending. In essence, the theoretical returns from taking many of the mid- and small-cap producers private would be compelling from the perspective of a corporate raider. The “corporate raider” perspective is of course only a notional concept to illustrate the extreme undervaluation of the sector. The risk typically associated with extreme undervaluation is the amount of time required for the investment thesis to prove out, not loss of capital

I don’t see the point in going over this, time & time again.

I get it, that many here would like him to show solidarity with the rest of us, and put his hands in his pockets, but personally I just don’t see it happening.

GGP is not a fledgling start-up, whereby investors might ask, why should I invest, if the management won’t ?

GGP are much further down the line than that.

At any point in the future, if SD delivers us the mine we are all hoping for, then along with awarding himself a massive pay rise, he can probably also issue himself millions of performance enhancing shares to rival those of any of his co- management team.

So imo, he knows in the not to distant future, he will reap the rewards. The only thing that could scupper that, would be if GGP did sell their 30% of Havieron, in which case all he’d receive would be his salary.

So that’s another reason as to why a sale of Havieron is not on the cards, SD personally, would be the one person to lose out the most. No shares, equals no pay out.

Freddie there’s an old saying springs to mind each time I see most of your posts.

When you’re dead, you don’t know that you’re dead. All the pain is felt by others.

The same is true when you’re stupid ! 🤪

Doublehun, it might not hurt SD as you say, but it sure as hell will hurt the likes of our largest shareholders such as Wyloo, Tribeca, Five diggers etc etc.

somehow I can’t see them voting to introduce more shares. Less shares most probably, as they lose nothing percentage wise then, do they !

Not half as much as the CR-500 I used to race. It was like riding a bull on steroids most of the time.

Great memories though.

Hey Ace, no need to grant me honorary membership of the Aussie club. Back in November 1983, as a young 21 yr old, I was suppossed to be taking up a position at Royal Melbourne Golf Club, as one of the teaching professionals.

Due to injurying my right leg & foot dbecause of a motocross accident the month before, I couldn't fulfill the position.

Unfortunately I've never been able to get the time to go visit due to life & work commitments. Now retired, who know's ?

One day "Me Old Cobber" one day ! Still only 61, so plenty of time left 🤞

What a lot of you forget, is when SD took over the reins, GGP still owned 70% of Havieron too.

If your looking at reason’s why we are, where we are, I think you’ll find, that is the largest catalyst, along with 99% of mining & exploration companies being so undervalued at this particular moment in time. But obviously the likes of Freddie just turn a blind eye to the most obvious of facts.

WiiiiiiiLMaaaaaaaaa