Member Info for Texlax30

“Minyari drilling at depth confirms continuity of moderate northwest plunging “pipe” like thick high-grade breccia mineralisation which remains open at depth providing further exciting exploration upside”

Hmm what’s on the northwest trek from Havieron to Minyari…

The house when completed this summer might have a few extra bedrooms, plus a detached guest residence ;)

Yep website working perfectly now, we’re all here in full support of our CEO, Brad George ;)

Hi Marmaris, no one has seen the JV agreement, so no one knows for certain. From my experience in these type of JVs, the non-operating (or minority) interest may be precluded from publicly releasing info such as a resource update. Unless perhaps, that info was deemed material / required by a regulator or the stock market…

I have little doubt SD has his own current resource estimate sat on his desk, with a ‘stonking’ number. I would also guess that SB saw this document in early Jan, as something slowed down NCM…

All conjecture on my part.

Is Mr. Day voicing via Allan Gray as well?

Games afoot, and there are logical enough theories at both ends of the spectrum. SB feeling the heat to get the 5% for as little as possible? He’s already under scrutiny, seems a dangerous and short sighted game to play. SB playing the long con to suppress GGP and go for the whole shebang? Doesn’t seem Allan Gray or shareholders would be supportive, they want divis now.

This is the most interesting 48 hours in my two years of being a shareholder in this company, because for the life of me I cannot think of a reason why NCM would voluntarily delay a resource upgrade by 10-12 months; as Dip says, it’s a relatively simple process (data is in hand, input models completed) to appease shareholder on the capex spend and ROI, add ounces, etc. There’s some low hanging organic growth for you, SB.

My jaw dropped when Shaun said ‘upgrade the resource closer to FS’. I do wonder when Shaun became aware of this delay - up to December, it was always about updating the resource in the February quarter. In the late Jan (Proactive drill results) and early Feb (Investability), the 2022 road map had no real mention of resource upgrade, only FS and exploration.

What happened in the first few weeks of Jan, did Shaun push hard in the early 5% negotiations? Was it earlier - did Shaun **** off NCM with the December announcement of NCM wishing to commence the 5% negotiations? Enthralling stuff.

Also, Pretium shareholders think they got shafted and NCM got it cheap - goes both ways.

Putting you on the spot Hydro - what’s NCM have to pay today to get 30% or all of GGP? 2.5…3.5b?

Sandeep better hurry, Barrick put another $3b on their market cap and would love some more Canadian and Aus exposure…

Only poking the stick Zoros, sorry to hear you’re sick. I had it on Christmas Eve (along with wife and 11 month old!). Which here in Dubai means you can’t leave the house for 10 days!

Feel better pal, you’ll have some good reading material and presentations from SD to keep you occupied tomorrow :)

I’m going for 7.7m oz equiv.

Hydro, Barrick just did a $1B (!) share buy back. The days of mining stocks being on sale are numbered….

No no Zoros, I’m holding onto your 4.4m oz AuEq prediction for MRE2. You’re predicting a 200k oz AuEq increase, 14 months after the initial MRE and all the infill and growth drilling in between.

You preach to this board as an authority on the value of GGP, can’t make glaring errors like that my friend.

Check your figures, Zoros…

That makes complete sense, Timber (and SD does love him some Ernest Giles). Sure is nice to have options..

I’m going to my sister in laws wedding in Tasmania in December, will bring my shovel with me ;)

Dunno Timber, I kinda feel we’re getting to the point where we don’t need to divest, particularly an asset where we had over 20 meters at 3.3 g/t (9m from surface!). I know it’s not elephant country and maybe SD isn’t interested, but it’s a nice clear path to organic growth in the short term. Add some separate ounces to GGP, away from NCM and the Paterson. Imagine how many 200m holes we could drill with a rotary rig in Tazzy, nice and breezy Antarctic summer!

Anyways, I see we’re sat at 14p….ready whenever your are, market!

I shall defer to you, Mr. Gall!

I’m still wrapping my head around Bamps posts from about a week ago, highlighting the grades which will be mined first out of the upper stopes. I think the first and second year free cash flows have been significantly underestimated….it’s a thing of beauty in terms of GGP developing as a company. Low overheads, early free cash flow, debt facility in place and future capex becoming easily manageable.

Now can we please farm-out Warrentina (keep 70%) and grow our own open pit resource! Low hanging fruit…

And yes, all to play for next week. Could be chaotic (in a good way).

Let’s try and clear this up - when SD refers to 50% increase, he is talking about tonnage going from 2MT (current PFS) to 3MT. This has been mentioned before, and we know that they will likely get up to 6MT from the current decline alone. Fraction of a fraction starter mine.

Nothing to do with updated MRE or declared ounces in the ground.

I just can’t wait to see that bulk mine AISC, Hydro…Cadia like, me thinks!

I took the ‘50% increase’ in the next FS to mean 2MT to 3MT, which he has mentioned many times before.

Agree with your comments though Zoros, I think at FS or MRE3 (early 2023) we will have at least 10 m/oz on paper.

Ah ok Bamps, I see where you’re coming from now, capex on the different stoping levels vs. the immediate production revenue. Very interesting analysis, looks great for cash flow!

Hey Bamps,

Have a look at page 12, this is how the $643 AISC is calculated and includes the copper revenue from the mine. If you could share your AISC estimate perhaps I can see where we differ.

https://greatlandgold.com/wp-content/uploads/2021/10/GGP-Growth-Update-Final.pdf

Gold price won’t affect the AISC, it only affects the per oz. margin.

For copper, GGP use $4.08 / lb, wherein today it’s around $4.50 / lb spot. Hence this is how I get to a theoretical AISC today of just under $600, and a per ounce margin for the mine (gold and copper) of say $1,200+.

This is all of course based on the minuscule PFS and 2MT, and will only improve quite drastically.

Again, glad to be corrected, always appreciate your posts.

Hi Bamps,

The $643/oz AISC within the GGP PFS is built up with mining, transport, haulage, admin, etc. totaling $1,009/oz AISC. The copper revenues are then subtracted ($367/oz) to get to the AISC of $643/oz.

Using spot copper prices today, I (think) the AISC would be around $600/oz. So right now, a per oz. margin for the mine of $1,208.

The above would be based on the 0.56% copper grade, agree that the early production higher grades will materially reduce the AISC. Add in the gold and copper macro / supply situation and..wow ;)

Happy to be corrected on the above, just grabbing the figures from the GGP presentation schematics.

On the topic of copper, SD keeps hammering this point home - the copper is what makes this world class.

Look at the incredible grades and recovery rate at Brucejack (Pretium), yet they still float above a $900 AISC. If HAV had the same PFS gold grades but zero copper, it likely costs over $1,100/oz to get the HIGH GRADE out of the ground. But we do, hence a world class $643 AISC (and that is using a discounted copper price!).

Think about all those lovely long intercepts 2.0, 3.0, 5.0 g/t. Think about the copper within those intercepts, 0.2%….0.8%…etc.

With that in mind, consider that Newcrests Cadia mine in 2021 (Sept quarter report) had an average gold grade of 0.95 g/t (yes, less than 1.0) and 0.4% copper. The Cadia AISC was negative $109 :) That’s correct, they made $1,905 per ounce produced….which sounds like more than the price of gold, eh. In June 2022 quarter the Cadia AISC was negative $377 and they made $2,157/oz margin…

This is the direction Havieron is heading over time and with increased volume, and Newcrest know it (though perhaps they didn’t know it would include another high grade zone in the eastern breccia). This is why the goblins try to scare you with the capex for a bulk mine.

Copper (economics), shape, size - in that order.