Member Info for thelearner

But for tenement E45/4701, during the Farm-In Period and for the term of the Joint Venture Agreement; So the JV agreement is still running - I think this is the Hav tenement blocks - so NCM have first refusal on this if another offer comes in - I think.

So from the original Hav JV RNS https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xp4py3x
We are now in the 12 month period following the completion of stage 4 - which I believe is the end of the farm in period.

"(Additional Farm-in) within a period of 12 months from the date following satisfaction of the Stage 4 Commitment (Additional Period), Newcrest shall have an option exercisable by written notice to the Company for it or its related body corporate nominee to acquire an additional 5% Farm-in Interest at fair market value." - So this is where we are at now.

"During the Farm-in period, Newcrest will have a first right of refusal over the Black Hills (E45/4512) and Paterson Range East (E45/4928) licences. Additionally, during the Farm-in period and the term of the proposed Joint Venture, Newcrest will have a first right of refusal over those blocks within the Havieron licence (E45/4701) not included in the Tenement Blocks.
A link to the map of the Tenement Blocks and Greatland's Paterson licences can be found on the Greatland Gold website at: https://greatlandgold.com/paterson/ "

So as the farm in period has ended - has this right now gone? And black hills and paterson range east are now in Juri JV anyway.

"Right of First Refusal: If Greatland receives a bona fide offer from a third party purchaser to farm-in or otherwise acquire all or part of its right, title and interest in the Remainder Tenements, the Company must first make an offer on the same terms to Newcrest. The right of first refusal will only apply and be binding on the parties (a) in respect of any area of Tenement E45/4701, during the Farm-In Period and for the term of the Joint Venture Agreement; and (b) in respect of Tenements E45/4512 and E45/4928, for the duration of the Farm-In Period."

Farm in period has ended - no? If so NCM have no right of first refusal? I am not stating this as fact - but for discussion and confirmation.

I am sitting, waiting, holding and have been accumulating - how much faith do I have - loads as I have bought another £118K here at prices well above current levels since Oct 2020. £20K further has been recent around about 13p. Luckily I had been buying from 1.6 from April 2019 to April 2020 - I took a breather from Apr to Oct 2020 - was a mistake - wished I'd kept buying on way up.

To those who wonder why price increases in Gold/Copper are not reflected in current SP - because it's all still in the ground - and this will not materially affect the SP in my experience until we are very close to production.

But we know Hav is much bigger than 6 Moz. We know NCM want to get the FS released and start construction on the next phase Underground Mine at HAV. Needs this feeding Telfer.
I am hoping in 2022 we can get a strike on 100% owned ground - Scally would be nice and would get NCM's interest.

GLA - looking forward to next results - as bamps says - holes are now very long, expensive and take time to drill - and are looking for the edges of Hav - really further exploration holes - with some infill parts.

The easiest way to keep the value of Hav down would have been to slow down the drilling. But NCM cannot do that, because they need feed ore for Telfer ASAP. The initial MRE and Phase 1 selective mining - is high grade and will be good for Telfer, but NCM will wan the underground block cave mine developed and into production ASAP, I have heard people on here say typically 8 years.

Meanwhile - Cadia East - 100% NCM & 1.9 km deep ore body. The project’s feasibility study was completed by the end of 2009. In January 2010, the New South Wales government granted Newcrest Mining the approval to proceed with the construction of the A$1.91bn project.
Construction began in April 2010. First production from the underground mine was achieved in January 2013, while full production levels were expected to be reached in 2017.

So can be done much quicker than 8 years. Main problem is Hav is still open in so many directions - and at depth, and if super high grades are to be found in Eastern Breccia - may want to go there first.

What I await with interest is the GGP exploration drilling plans for 2022. The start of these should be kicking off very soon? Some good results on a 100% owned block would be very interesting - especially if Scallywag, as NCM would definitely fancy involvement there as well.

Not in my opinion - but GGP can use an estimated MRE as part of their valuation - as long as they have drilling data and they can show arbitrator it's JORC compliant. The email reply from NCM I found interesting as it said the "modelling" takes a long time.

I do not think it will go to arbitration - but that's just my opinion - I think NCM and GGP will find a way to get within 10%

Been keeping pretty quiet lately - have faith in SD and the team - they have very little control on the 5% purchase other than put up a fair valuation argument. 5% was part of the JV deal - and nobody entering the JV probably expected hav to be the size it is going to be.

The deal could be interesting - a % share of an asset I am familiar with has just been sold. It includes a fee/payment if an existing not commercial part of asset is brought into production, and another payment/fee if a new discovery is made in the asset acreage - this is not mining, another sector.

I have topped up in last couple of weeks and see plenty of other LTH doing the same.
Today I had 37750 at 12.855p, and 21st Feb had 75757 at 13.199p.

Not really got funds to top up more - and had said I was finished - but I just think this is so low risk.
On 29th Dec I had 737,000 UFO at 0.67 - was very tempted to put more there and plumped for GGP this time.
GLA - just need patience - and dream would be strike on 100% owned ground.

The Hav JV has a management ctte - I think of 5 people and 2 are from GGP - this should ensure that GGP have access to all the data that NCM have on Hav. Well we have never seen the full legal text of the JV, but that's what I'd hope.

Would be very disappointed in a JV if we did not have full access to all data.

Joe - I am in UFO - been in for a while and made a little profit, but missed a big profit - bought recently again at 0.67 and thinking about another buy. First buy was August 2020 at 0.26 - only bought £1200, big mistake - next buy Sept 2020 0.76.
I am quite hopeful there - and Tymers will be along to shoot us down shortly.

Have not read all the board today, and don't know rules in Australia, but in the UK - when performance shares vest, you pay tax and NI at the time of vesting based on the market price of the shares at time of vesting, so real cost could be very much more than £12K for SD. Depending on tax rules in Australia.

Maybe a very clever accountant can do something about this - but any normal employee in UK this is what happens.

I am also in UFO and saw Hydrogen posting there today - I have 1.4 million over there - again long term view for me - hopefully will be very good.
My last purchase was GGP though.

I looked a lot at Xtract Energy or something it was then - was tempted but luckily never took the plunge before they crashed - I never realised it was the same company I am now invested in. Almost my whole life in O&G, and know North Sea very well, was worried enough not to buy back then, but knew someone who did and sold at the right time and made a nice profit.

When I read the RNS yesterday I was very happy, but also think this may put a spoke in the plans for a quick sell.
If Ascot has higher grades, and is nearer surface, a mining co would always want to get the higher grade resource into production first - as this gives much quicker payback of the Capex.
So any big miner looking to buy this will want to know more about Acsot, in terms of size of resource and grades.
I think we'll see much more holes going into Ascot.
There was no bad news - these holes are not too deep and the appear to be drilling quickly and under budget.

SAS - I had 3 out of 4 of them in - now the full house.

Tom - great news - all the best. Big weight off your mind.

Sorry to hear of your loss Matty. My dad cared for my mum for a long time before we lost her at start of pandemic, we did as much as he would let us - which was not much, but I saw how difficult a job it was, and the level of devotion he showed and care he provided will be the same as what you gave your dad, be proud of that.

IHT - plenty here will be able to give you sound advice, some have already. Best wishes for getting back into work and the readjustment you will have to make in your life without your dad around. Hope you have close family and friends who can help you through this difficult time.

Zoros - NCM entered into a 70% owned partnership with Imperial at Red Chris in August 2019. They seem happy to develop Red Chris with them at 70/30. I accept this is new territory for NCM in Canada - and GGP is very close in Australia and Telfer.

They also have a 50/50 at Wafi-Golpu project - but again local partner in a different country - and been a difficult project for them both.

GGP have some very attractive acreage in Paterson and EG - NCM might just want to keep GGP sweet and onside as a partner - but I accept they could also try and takeover - a strike on one of our 100% assets would help us no end.

I think SD wants to retain the 25% of Hav - why would you not do this unless you got a too good to refuse offer to sell, but I think SD and his team know that Hav is only going to increase in value - there is potentially much more deeper down and in the Hav blocks - and it will be several years before anyone truly knows the size.
Hav will be developed by NCM in phases, and there will probably be multiple phases of underground mining - they are world experts at this - look at Cadia.

Telfer is a high capacity mine - had to be as Telfer processes relatively low grade ore - so there are high volumes of feed ore for the gold and copper output. When Telfer gets the 2/3/6 MT early feed ore from Hav - it is going to be much higher grade with a very nice output.
Once we start bulk mining, the volumes of feed ore will increase and grades will be lower.

I think SD and team if we retain 25% of Hav will use the very nice and growing income stream to go exploring more with the drill bit. And possibly start to develop some of the other projects with partners.
We have blocks around and in the same region as other discoveries - but around Hav is still relatively virgin area. Deep exploring is slow and expensive compared to shallow stuff. We just have to hope we get a hit on a 100% owned tenement - anything in Juri will also be a bonus - and there are already early indications of some Telfer like mineralisation.

Long term - this company has loads of potential IMHO, but as always with mining exploration, it's hard, and you need a bit of luck as well. But demand for copper and battery minerals will be ever increasing in future. Personally I don't think mineral prices are going to explode to many multiples of where they are now - once they become too expensive the general public cannot buy the products that they are needed for. Again in my opinion, electric car prices need to drop before the take up will be huge. I live in a rural area - public transport is not an option - take up of electric here has been slow compared to other areas like big cities.

Damondubya, I agree first priority is insulating older properties. Very difficult to do, and as Mr V says disruption in every room and I think 10k costs optimistic.
For Electric heating I was talking about modern new electric radiators, not storage heaters, and this would be in conjunction with solar panels and domestic battery storage charged at cheaper overnight rates.

Many poorly insulated homes have been heated for years with electric storage heaters.
I am not considering a heat pump type system, when you look at boiler, heat pump and water circulated radiators, maintenance and upkeep more expensive than electric rads, which are more reliable.

Uk energy security, we need nuclear. France has cheapest power generation in Western Europe. Our politicians letting us down ignoring nuclear. Wind is great, but we do get some periods of no wind in uk.

80/20 gas, hyd mix is interesting, but will be costly and if only short term, not sure it’s viable.

My view is that Hydrogen will play a part in the green revolution - but only a small part.
https://citu.co.uk/citu-live/could-hydrogen-replace-natural-gas-to-heat-homes-in-the-uk
This article shows that moving to a 100% hydrogen grid will not be economically feasible IMHO. Houses will have to be made more energy efficient and we will use electric heating - which will be much cheaper to install than new hydrogen boilers and infrastructure - hydrogen will be expensive to produce.
Insulating the older houses will be hugely challenging and costly. Nobody has a real coherent plan to get to Net Zero.

Wishing all on here a merry christmas and happy new year. Hope people not inconvenienced or worse by covid 19.
2021 been a tough year for GGP LTH - for me it was a year where I topped up continually - all the way from 33p down to 15p - missed the chances below here as no readily available funds.
At all times I was happy in the fundamentals of Hav alone and confident I would make money on all my shares in the long term - but was tough - until that RNS last week.

Thanks to the regular major contributors to this board, paddy, bamps and hydrogen - I will be forever grateful for the info they (and many other knowledgeable posters) have shared with us - and continue to share with us.
Exploration for minerals - especially deep exploration is not easy - patience required - it's a long game - even if we only find a baby Hav it will still be great.

Looking forward to a prosperous GGP New Year. GLA