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Zoros, that’s what I took from your original post in this thread, as well as the follow up at 933am.

You corrected your earlier calculation to be £1.05b (25p) for 25% of HAV at the FS stage. You also think MRE2 alone should put as at 24p. Just a bit all over the place.

You also said Havieron is a ‘medicocre find’! If that’s the case, not sure we are in the same side. No need take my post as aggressive, I just see too many battered PI’s trying to justify they deserve being in the mid teens as some sort of therapeutic exercise, as opposed to fair in ground value of some of the worlds most economic ounces, with a clear path to production.

We’ll both reap the rewards in due course, so all good!

Paddy, did you talk them into this?!

Zoros - to be clear, you’re saying you want to sell HAV for 25p (£1.05b) the ‘end stage’ being FS?

You posted earlier:
“Before you spray a "Z "on my front door and tarnish me a troll collaborator, please DYOR and understand why 3.4Moz = 15p. When the MRE2 comes out = 24p. Each incremental MRE = +Xp.
The 5% valuation = +Xp. Term sheets = +Xp. The DFS = +Xp.”

Which is it? I’ve seen you recently try and be a voice of authority on the company, sp action and shorting, and frighteningly a lot seem to listen. It was better when you stuck to your road maps :)

Zoros, how does 25p equate to £5b?

You also earlier referred to HAV as a ‘mediocre’ find. Lmao.

Good ol Scally ;)

The end is near, SD’s little Christmas week gift ruined their plan and now what will be pesky GDXJ buys might finish them off…unlucky! Money is returning to our unloved sector. Remember 2020? Here’s to the return to true value, nothing but respect to all the diamond handed apes who held in there and improved their average.

I agree, Hydro. Fair market value…well what’s recently been paid fairly in the market?

These ridiculous £50m figures being thrown around, a lot of FUD and battered investors. I can take our current reserve only number (1.6m oz !) and get to £50m just by using what Newcrest recently paid Pretium on a reserve basis. BUT…based on current AISC our ounces will contain an additional 40% profit margin than those at Brucejack (Pretium), who has no copper. Are our reserves worth more than $750/oz to a buyer, given the amount of capex we’ve already contributed?

So the £50m above is based on a fraction (reserves) of a fraction (PFS) of a fraction (MRE2)…because MRE2, again, is a fraction of HAV. And then you might have another orebody within the tenement reveal itself in the coming weeks…..

If we start getting over 4m oz inferred in MRE2, all bets are off in terms of the 5%. Surely Newcrest would consider this a good time to just go all the way…

So true, Hydro. Sandeep wants Havieron and Red Chris to be developed into negative AISC producers, just like Red Chris.

Well this is quite a long discussion based on incorrect data :)

Pretium is the key comparison, and your low end per oz. figure is quite a ways off.

Important : THE MINERALS RESOURCE FIGURE IS INCLUSIVE OF THE MINERAL RESERVE.

Brucejack has a Mineral Resource of 10.3m oz, and within that figure is 3.9m oz of Mineral Reserves. Hence the remaining 6.4m oz is a mix of inferred, indicated and measured.

This is why the range of the Newcrest deal for Pretium is from $300-$700 per oz.

And the key here….Brucejack AISC is currently about 50% (or $300) higher than Havieron. Brucejack has no copper. Thus if we were taking ounces out of the ground today and we’re going to be bought out…we’ll you get the idea!

It’s all about the economics of Havieron, people. Not just the ounces (though we’ll blow that metric out of the water, as well!). And don’t forget all of the capex we’ve already contributed for the PFS starter mine…

Slim, congrats and my thoughts go out to your little girl, God bless.

The current Brucejack AISC is approx $950, not $743.

The current reserve figure is closer or 3.9m oz. This is included within the overall resource figure of 10.3m oz, though some of these ounces are not yet ‘proven’ as economic.

Long story short, you can play around with the above figures and get a range of $280/oz up to $700/oz.

Brucejack is a great asset, though there is no copper, hence better economics at Havieron.

All points to a nice chunk of cash in the coming months to secure GGP future.

Paid $667/oz (proven reserves) to buy out Brucejack. If we want to include the inferred yet economically unproven ounces, use $270/oz though this does not include the future substantial capex requirement.

An ounce at Brucejack (2021) costs 50% more to get out of the ground than an ounce at Havieron.

With that and the amount of capex already contributed by GGP, I could make a case that the in ground fair market value of our fraction of a fraction PFS (30%) could alone support our current market cap. Unfortunately for you, again, it’s a fraction of a fraction…of one of the ore bodies in the JV package.

This didn’t go well for you, though still better than when you though it cost $3,000+ to get an ounce out of the ground :) Bamps and Hydro won’t let you live that one down.

28p will be the floor for GGP as we progress in Q1 2022, and I don’t want to see you get left out.

BuyIntoGreatlandGoldLower?

There’s just too much news incoming, with buyout FOMO in the background. Have to be in it to win it from here in out.

SD pulled a blinder.

BiggL, had to stop reading when you upped the oz premium by 50% based on 50% increase in gold price. What’s the % increase in per oz margin at Hav when you go from a gold price of 1,200 to 1,800? I’ll give you a hint, it’s three digits :)

Newcrest just purchased Pretiums Brucejack mine, with an economically viable (proven + probable) 4.2m oz, no copper, and a current AISC of over $950 which includes their silver production credits. Compare those economics to HAV, and don’t forget the future capex still required at Brucejack.

Newcrest paid USD 2.8b in total….

Newcrest paid $667 / oz.

You’ll understand soon enough.

Floater,

My $20k top up fund hits my account in the morning, which was meant to be my Christmas gift in the 12s…

…so I’ll join the deramping parade for the next 18 hours, after which the SP can resume its northerly travel ;)

I’ll start thinking about the actual 5% valuation tomorrow. The things I’m more excited about with this RNS are:

1. NCM want it and they want it yesterday. Time for the world to wake up.
2. Is there any doubt this is going to be mined for 40+ years? NCM is opening people’s eyes by being so proactive over 5% (option period opened last week!).
3. The GGP funding questions are over. $15M+ cash in the bank, likely an offer of hundreds of millions from NCM in the coming 8 weeks, existing loan facility, and I’m sure SD will have some asset backed loan terms sheets in hand by then for extra leverage bluff. We (can) have excess cash to get up to production, when the free cash flow commences. The path has never been clearer.
4. The FOMO and mystery over the next 8 weeks will coincide with drill results, North and Zipa, MRE2. This might be the tastiest 2 months we’ve seen yet….
5. SD with the midday RNS on Christmas week. Classic.

..having appeared out of nowhere in October 2021 and subsequently having 800+ posts on GGP to date, yet you and your friends with ‘millions of shares’ whilst ‘charting’ 12p are nowhere to be found on a day like today…

:)

*thus

I thought 17 and 13 were my final top ups (been buying from 3p upwards).

Can’t afford to be inactive this week, this moving around funds to accumulate. It’s not even about price these days, it’s about accumulating shares for the future.

Cheers, Santa.

Floater, you have a great wife! When mine wants to buy a handbag or remodel the kitchen, she leads with ‘imagine what GGP will be when into production’. They’re very crafty….:)

Those polite Canadians are really heating up with the commercial / corporate activity. In the last few weeks, we’ve had Brucejack (acquired by Newcrest), Great Bears’ Dixie (acquired by Kinross), Osisko (JV cash raise with Northern Star), and now Franco Nevada participating in a cash placing with Skeena, seemingly at around 90% premium to Skeena current sp. With it, Franco Nevada get an option for a 0.5% royalty in 2023 for a further $22m (CAD).

This is something that Rick Rule and others have been alluding to, and it’s starting to kickoff. Follow the money. Can’t wait until Franco Nevada start sticking their beak into our neck of the woods and the market gets wind of it :)

I have a decent sized holding in Great Bear. I’m not sure how you draw the conclusion of USD 200 oz for a Tier 1.

Dixie doesn’t even have a resource estimate. The purchase by Kinross allows for an additional premium upon a decision to mine, and IF there is a future resource estimate of over 8.5m oz. Again, there is no current resource, no copper, nothing like that grades at Havieron. If they get to the Feasability studies at some point, it will be difficult to be sub $1k AISC. Dixie is a greenfield project, no plant or infrastructure. Lots and lots of capex and resources required just to get to the MRE stage, much less feasability studies.

As a Great Bear shareholder I’m very ok with this deal; it’s an exploration company that has put a lot of holes in the ground and found decent grades, though no resource estimate, no infrastructure and really no path to production….yet the company was just purchased for $1.45b.

But Dixie is not a Tier 1, and I personally don’t think it ever will be, though it is a very good asset. Dixie and Havieron are night and day. Grades and width, copper, economics, path to production, infrastructure, etc. Very different.