Member Info for Texlax30

Not a silly question at all, east, great topic.

Bamps, where are you getting the Cadia 95% recovery rate from? Based on Cadia much lower gold grades, I would imagine a lower recovery rate. I recall Cadia copper pushing 90% recovery.

Tymers, can we get the English version?

Newcrest are the Operator - simple as that.

Example, with the Macondo spill in the Gulf of Mexico, all you heard about was BP as operator of the block license. Not Anadarko (25%) or Mitsui...non operating JV partners, just like our ‘little’ GGP will be

Hydro, I wish you would come out of your shell and tell us how you really feel ;)

Absolutely, the capex to be used to decommission Telfer is effectively being used for Telfer part 2, let’s just wind the clock back to the 90’s and do this thing over again. NCM must be smiling signing those cheques.

Great two interviews this week, and it’s the first time I feel we’ve gotten to know SD and what he’s about. My view - SD gets it. Growth of a glittering asset, minimal capex, value through the drill bit - all great. Rare asset with gold / copper diversification, it’s an easy sell to potential investors isn’t it.

That said, my biggest takeaway is the reference to ‘green’ underground mining, low carbon footprint, existing infrastructure and brownfield development. This is key in bringing on II investment this day in age, and whilst HAV already sets us apart, this is the cherry on top. Brilliant.

SD, nice to meet ya.

Would you take GGP market cap today, or 5% FMV of Havieron in 24 months time?

Did 100m of buys (10m chunks) go through before open? Hmm

Just catching up - wow, sulphide zone now seems to have 12m oz dare I say nailed on.

More importantly, a hybrid oil rig mudlogger / world famous geo who can extract hydrocarbons using Jedi mind tricks, and may or may not have discovered the lost city of El Dorado in South America, has advised hard rock go slow and soft rock go fast and we are a long way away from pulling out ore.

I just hope Byrnecut had been informed of this ;)

If I’m Sandeep and asked to give three reasons to invest in NCM, surely I would start with Cadia long life and record AISC. But no...all Havieron, and the Sandeep 50moz smile.

What’s that saying about a gift horse?

Good Lord, Sandeep...his facial expressions when discussing HAV just now. Wow..

Some great discussion today, particularly about quantifying the resource at HAV and how it translates to our SP.

My own view is that there are not many 30 / 40 / 50m oz (80m oz au eq?) discoveries with more than economic grades. Scarcity, in economic terms. None are brownfield with limited capex and, again, none are in the best mining jurisdiction in the world (AUS).

Havieron is an outlier - it’s not supposed to happen, but it has. I still quite can’t believe it, but there ya go. Look away from the MRE, and think about HAD084and the ‘low grade’ breccias.

So our asset is scarce in the strongest sense, brownfield, in AUS and we are JVd with a partner who is managing a negative $160 AISC on a separate mine at grades of 0.9 g/t and 0.5% copper. HAV high grade zone has over 3.5 g/t and 0.6% copper. Cadia and HAV are not a like for like comparison, but the conclusion is that we couldn’t have hoped for a better partner.

Back to our SP, I don’t know where we’ll be as we continually upgrade the resource, get a PFS and progress through 2021. But I do know that’s it’s inconsequential, as I’m here for 2023 - 2024 and onwards. This little exploration company will be seeing revenues from what will then be known as a generational discovery with, on top of the anomaly of this discovery and location, extremely scarce and appreciating assets (gold and copper).

For me, the above is why it’s easy for me to add, add, add to my holding. There’s a value proposition developing which, in my view, values GGP at well over £ within 24 months - not based on what our SP will be on AIM, but market value and what we will potentially be offered by royalty streamers or similar due to the points above - scarcity, scale / size, grades, risk level, limited capex.

Is my valuation and forecast based on HAV wrong? Dunno. 20p? All in. If we find another monster in the Paterson? Hold on to your butts.

Side note - I would like GGP to put more holes in Warrentina and divest, purely for cash.

In fairness to JoeBass, they did get a big hit at Scally.... unfortunately it was composed of the drill bit or bottom hole assembly ;)

An upgraded resource of up to 7m oz is reasonable. Talks of HAV containing 30m+ oz aueq of economic grades is just as reasonable.

Surely people aren’t expecting an updated MRE over 10m oz, or are they? Doesn’t matter, here for the end game (see 30m oz above, as conservative). Enjoy the ride.

Zoros please add that to your GGP timeline ;)

Jet, the second a broker puts pen to paper it is always a cover your own backside excercise. Risk factors, EV, conservative ounces. Fine. Blanket / grey statements about other discoveries (and putting a value on them) is the same. For the broker, there is always an out.

They are now using the term ‘developer’ and ‘multiple re rate’, purely iro of HAV. We can see their valuation method, and we all know that 12m oz is going to at least double. So does the broker, they are smart people. They can’t say right now, for example, that a good portion of a 30m oz + ore body will be over 2g/t and 0.3% copper. But they know, and so do we.

Developer and multiple re rate. I’ll take that for now.

A very long way of saying this will be £ not pence. I guess JBER must be nearly done then ;)

Even if GH offloaded all shares and options, it could be churned in a matter of weeks. We’ll understand sooner or later, and continue the journey onwards and upwards.

Holders, understood. What about traders, what should they do.

Kevin,

Only 60 more days until we can all start checking every morning for the PFS RNS ;)

Thanks learner. Cadia...wow indeed. Head grade of 0.94 g/t and a negative $160 AISC...