Member Info for thelearner

Interesting thread. I was lucky to buy sub 1.8p during that period - just never bought enough.
I did keep topping up as SP rose up to about 12p, then stopped - this was a mistake but not my biggest one. I started buying again, averaging up, from just under 20p right up to morning of Scallywag results - when I put in £20K at 33p - that was my biggest mistake - getting caught up in FOMO.
Like many wish I had sliced then - but can only hopefully learn. I have topped up considerably this year, still averaging up.
I believe the long term fundamentals of Haverion should easily get us to 50p, and possibly far higher - in time - so patience required - and if we strike lucky again - then we will go even higher - but again - no quick gain here - will take time.

I do look around other aim shares - and am willing to speculate £5K on riskier plays - where I don't have much time to research, but to go above that amount - i need to research, then compare what I think are potential returns - compared to GGP. This year most of my investment, not all has gone in GGP. I think it is derisked - but will take time to produce returns.
I only put money in AIM I can manage to live without - AIM is a very risky place - but can have high rewards.

I also think it's important to spread risk, but SaS has decided GGP with NCM as partner is very low risk, and I agree with this - so you need to decide on risk level when investing.

I keep reading that PI's continue to own >80% of GGP shares - if this was being manipulated by II's - surely this % should be falling? That's the bit that baffles me.

My GGP ownership in is the 7 figures - but low range of that - and have 7p average. I am happy at that. Only way now if I put in more is if I sell at large profit some of my others.

My biggest mistake - not taking profit and slicing - I have never traded - mainly due to lack of time - but would in future - not daily or becoming a trader - but trying to sell on spike and buy back in on dips to increase holding. If I believe in fundamentals - I'll be in a share long term. Very important - having trustworthy and not lifestyle BOD who can bleed small AIM companies dry.

me too - £5K top up at lunchtime. Been swithering here or XTR - went here.

Academy - interesting - I used AISC from NC press release - they are significantly lower than the Pretivm ones quoted in their annual reports. Not got time to look and see if Pretivm have debt costs built in and NCM are clearing debt.

Anyway - district scale potential is what has attracted NC - Red Chris success probably got them looking for more Canadian assets they could pick up.

https://www.newcrest.com/sites/default/files/2021-11/211109_Newcrest%20agrees%20to%20acquire%20Pretium%20Resources%20–%20Market%20Release.pdf

estimated gold production of 311koz per annum at an All-In Sustaining Cost of $743 per ounce of gold over a projected 13 year mine life

Newcrest already had 4.8% of the shares. Pretivm shareholders being offered 24% premium on their share price.
Looks very smart buy from NC. NC will own 6 tier 1 ore bodies. 140 km from Red Chris.

Hi Bamps - OK all noted and you know I appreciate the advice. I am going to be much more cautious at XTR and next weekend have a much closer look. Thank you, I know it is much more high risk than here. Maybe I need more caution - I know junior explorers can be very dangerous.

Joe - currently I have too many strings on my bow - I have seen IRR mentioned before. I sort of count my AIM investments - £5K and below - happy to take a high risk punt, but do not have enough time to fully research - I missed out before selling some of these when they bagged/multi bagged or were in profit - and this was a mistake on my part. When I invested on these thought I'd get quick gains and move it into my longer term PM investments.
In this category I have UFO/OMI/PALM/RMM/BZT - and I will at some point in the future move these.
Above £5K and more serious AIM I have GGP - my largest by far and have an average around 7p and so still healthy profits - but have invested heavily in 2021 from 33 downwards. I have averaged up to 7p.
SML - been in there a long time - my 2nd biggest investment and 70% down. CNR significant investment - slightly ahead. XTR large investment - slightly down. N.SUP - slightly ahead. Not quite so big as the others.
I also hold some funds - which is where I started - and quite a lot of shares in an Energy company where I was employed and built a healthy holding

Have enjoyed very much learning more about mining and PM's - and hoping GGP will financially secure my families future (might take a few years), and hoping for good returns from others.
GGP my strategy now is hold - and then let the strategy develop along with exploration results. Not expecting miracles - but would be delighted with even a half Hav find. Especially on 100% owned land.

The talk about NC JV is interesting, I completely agree that JV has been wonderful for GGP and Hav - could not have been better. NCM have also done very well from it - they have a Tier 1 mine that will keep Telfer going - likely for decades and deliver a lot of value for their shareholders - and they also took a risk on the HAV JV. I think it's going to prove a wonderful investment by them.

When NC bought 70% of Red Chris - they paid $807 US million. They brought their exploration and underground mining expertise to the party.

The Juri JV - 70% of that acreage for $20mill Au - will be a huge bargain if we find anything economic. I was initially disappointed with that JV, but in reality - GGP needed finance to power ahead with Hav, and the deal was good for both.

SD biggest challenge will be if we strike on a 100% owned tenement. I think JV again would be a sensible option - to share risk - but I'd expect to negotiate a bigger share of the rewards - but majors normally like a large %, but some are willing to pay a lot of the costs of the junior partner. Would be a very nice problem to have for us. GLA

Been here since 2017 - so much less than some others, luckily I bought another £14K in 2019 between 17 and 21p, brought my average down, but £5K in 2020 at 42p and £5K Jan 21 at 53p - look very stupid purchases now. Have 145K shares at 34p average. Gutted I never sold out when we reached 70p in April 2017 - bad call, and we also reached 57p in May 2020. Could have placed the funds somewhere better then.

I'd like to see a toll deal. The last placing with warrants to the selected few has disappointed me - normal shareholders are always excluded from this. I'd like to see the tolling prevent any need for further placing and dilution, and get finance for mine build sorted ASAP. We need to get production started as soon as possible - and I'd accept tolling to give us income quicker.

Not sure though how keen the BOD are on a tolling deal.
What have I learned here, avoid politically unstable country investments, and even with a good discovery - takes years and years to get to production.
Hopefully the PM's sector will have a bit of a revival. I think copper miners will gain value quicker than gold miners due to increased demand.
However really believe in the resource in the ground - and thought MC with JM/RB on board would have progressed this quicker than we have.

The JORC code is extremely complex, and the competent person has a hugely important role. Extract below from section 28.

An 'Ore Reserve’ is the economically mineable part of a Measured and/or Indicated Mineral Resource.
It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors.
Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified. The key underlying assumptions and outcomes of the Pre-Feasibility Study or Feasibility Study must be disclosed at the time of reporting of a new or materially changed Ore Reserve.
Pre-feasibility and Feasibility studies are defined in Paragraphs 36 and 37 below.
Ore Reserves are sub-divided in order of increasing confidence into Probable and Proved.
In reporting Ore Reserves, information on estimated mineral processing recovery factors is very important, and should always be included in Public Reports. Source below
https://jorc.org/docs/2012_jorc_update_exposure_draft.pdf

So for being part of a PFS/FS - the resource estimate that can be used to assess economic viability must be indicated. However a company can I think publish various categories of MRE. In the NCM 2021 annual report, they report Measure/Indicate and Inferred for their assets - and probably and proven reserves.

Its a hugely complex area - and the role of the JORC code and competent person is to protect investors and ensure companies report accurately.

Hi Bamps - you know I appreciate your posts - and have total respect for your calcs - and I am heeding your warnings.
My understanding, the 71Mt was the existing JORC inferred resource when XTR took over. Since then there has been a lot more exploration drilling, which is still ongoing - 2 rigs with diamond drills to about 1000m, so not quick drilling. The holes where there have been assays back have so far been decent- for a porphyry - but as you said previously - pretty little gold and just copper, and not the best grades - even for porphyry.

I follow a lot this guy on the XTR board - http://icebergshares.blogspot.com/ he has been invested there for some time.
I have also watched Colin Bird speak about the project at a few meetings - I know many like him and many don't - it's AIM, if he is a snake oil salesman he is very good.

I know it's very risky compared to here.

My Canadian play increased 30% on Friday - not always easy to find out why - I am away to dig. Had fallen from $1.50 to $0.56ish, back up to $0.78. This one has good backers, and I have a good source here - who tell me the CEO and board are very optimistic about their exploration plays, one of which has been on hold for the whole of Covid.

Joe - yes he has - and he is no spring chicken. Interestingly I looked at the XTR board earlier, but after I replied to you and Lenz - they were discussing the same article you posted. I read several boards - but this one first.

Lenz, Joe - the other cpy where I am invested with the copper play is XTR, Bushranger in As is the bit that excites me.
However I am not recommending it or tipping it - has been discussed on here before, and Bamps21 - whose opinion I value greatly - thinks the low grades and the fact there is no gold does not make this a commercial prospect.
It was owned by AngloAmerican and given up - but they have a buy back option for 80% if XTR prove there is more than 2mt JORC approved resource.

And to be clear, I am not interested in GGP via XTR or any others. GGP is a completely re-risked investment for me, and I have put 5-6 times more into GGP than I have in XTR, and if I get good quick gains there - and GGP still remains low - it will likely end up invested here.
Many also do not think we should discuss other companies here - but if it were not that GGP was discussed on another board I was invested in, I would never have found it.
I have other long term mining investments where I was ahead, and am now either just ahead or way down, where I wish I had sold and invested it here - this to me is the lowest risk aim investment, with still potential to bag, or multi bag.
But for me - as well as putting more into GGP this year, I am also still happy to take a punt with smaller amounts on higher risk investments.

Joe - I completely agree that copper will be hugely important, and the price will only go in one direction.
That is an excellent report.
"There are two ways for the mining industry to increase copper reserves: it can either find large new deposits to develop into mines; or copper companies can lower their cut-off grades and add new reserves that way."

Finding large new deposits is not easy - Hav is going to be one - with significant amount of copper, and lower grades will become economic. This is very important in underground mining, when planning the underground mining operation. But NCM do this brilliantly at Cadia.

I am invested in another company drilling a porphyry prospect 100km from Cadia - many discount this as it's cu only, no real gold grades (yet) - but it will be open pit - so quick - and even grades considered not economic either go thrugh process anyway as you have to shift all the muck in open pit anyway - and what might be interesting at existing mines is the huge mounds of rock not processed because it contains copper which had previously uneconomic grades.

Boy a shallow copper discovery on some of our exploration areas would be good.

I am away to invest some more money and was swithering between more GGP and the above cpy. Going to spend the weekend deciding.

DVH - you should visit AB's LinkedIn page

Chairman - Emeritus AusMine
Director DDH1 Drilling
Chairman Mustang Energy
Director UON PTY Ltd
Chairman Interlate
Chairman Strategic Minerals
Chairman Critical Minerals Group Ltd
Chairman New Age Exploration Ltd
Chairman Emeritus and Director - Micromine
Chairman Asia Pacific Tait Communications
Chairman Ocean Guardian Holdings Limited
Chairman Nuenz Limited
Immediate Past Chairman CRL Energy
Director - New Zealand Coal Association
Member Resources Sector Advisory Council

He looks to me to be very buys man spread across many companies.

They are not discoveries. They are targets.
These will require exploration drilling - and 95% of the time - the first holes will not find an ore body - but give the geologists valuable information about the geology - if there is promise of finding mineralised systems in the area - and they you have to go and drill more.

History shows many junior exploration companies who have burned through all their cash and went bust before drilling the magic hole - even when you get the magic hole, will normally require more holes before a major becomes interested with JV.

GGP were either very lucky with Hav, or CB and his team were highly skilled - we struck the ore body early and was confirmed quickly by following drills - and the grades were outstanding. JV would have been much harder to secure with lower grades.

Juri JV - I don't think NC would have signed this were they not partnered with us at Hav, we needed the loan for Hav, it is very early and exploration JV, but in promising area with promising targets - and NC struck a hard bargain and could end up with 75% of any discoveries for $20mAus, or could end up with nothing. $20mAus is not a huge risk for them.
However - they did have a chance to back away - and not progress to PH2 - but they have - but again not hugely risky for them.

Distance would play a part, major miners would be more interested in areas close to their infrastructure.
It's a long term game, normally from discovery to mine would be about 10 years - NC are going at lightspeed at Hav, purely because they have a huge mine nearby with tons of spare capacity. 1200 people work there - shows you the scale.

JuriJv - yes NC said unlikely any Hav type discoveries in a couple of areas, but Black Hills could potentially have Telfer style mineralisation.

GGP are one of the few juniors who have struck big with Hav, lets hope we get lucky again - but it's rare. We have some other smaller proven discoveries as well. But nothing like Hav.

I found the post on Telegram last night showing the GP major shareholders and how their stake has been changing fascinating. Assuming it was Bloomberg terminal - but probably not fully up to date.

Am I surprised Van Eck - and others may be building position in NCM - no. Hav - they own 70% now, Red Chris - amazing potential - Cadia amazing. The future for NCM looks very bright, and they probably will start increasing dividends. Also a very nice merger/takeover target.

GGP - also attractive I'd say, but much more speculative, with explorational potential, and 30% of Hav - but much more speculative.

I was on telegram initially - but came off - simply because I did not have the time to read everything on both platforms - and I still don't.
However the daily highlights bit on Telegram is good, but I still struggle to cope using both platforms. Telegram ability to post images and direct links is much better.

I use LSE for other shares I am invested in - Telegram is only GGP - so I'll need to use both.

For me - on here I can easily ignore views I do not believe, and use filters, and have been here a long time on GGP board due to the quality information sharers - we all know who they are - and I'd only stop coming here if they were not posting here.
Here I also hardly ever respond to the nonsense posts - it's what they want - and very often spoils the boards - well that's my opinion anyway - my belief is do not engage with them. But others think differently and that is their right.

What amazes me is where people find the time - I am only on here just now as having a day off work.

I like both platforms - yes LSE has weaknesses - but there are a lot of contributors on this chat and others who I really respect and find their views and posts extremely helpful to me. I learn a lot on here - and also will on Telegram - and where I can also try and chip in to help others - although my knowledge on mining and financial markets is limited - like many who come here. Oil and gas I know well - but a declining sector.

gorsuch and others - you know I agree with you - and yes - it was all the money that was thrown and wasted on LCCM that put SML where it is today.

I and some others from here also are in RMM - my stake was not huge, and I have been burned before with consolidation, and stupidly never listened to my head telling me to sell. Went from 50% up to 70% down in no time. The company had some bad luck and needed more finance - have good assets. Today up 38% after finance was sorted - with hopefully more to come.

I guess this has shown me it is possible, but like many long termers here - think changes in the people in charge are required to make this happen for SML. Australia is a mining friendly jurisdiction. The time this PEPR is taking seems very excessive.

Last week we had a post from an LSE member showing the text of an email from JP - I found it amazing - if true - that the CEO would share information in an email to a shareholder that has not been divulged to other shareholders in a report or RNS.

via ggphelp on twitter - DM

the member referenced in Hydrogens post has been a member since 27/09/21, has posted 15 times, it says 10 posts in last 30 days, but shows 1 GGP Post, 1 RMM post and 3 Hummingbird posts.

samplank - I am led to believe it was because he mentioned and called out a poster by their LSE user name. It is still in many of the repeat posts I am seeing.
Hydrogen was merely in my opinion responding to this poster outlining why hydrogen believes GGP will be a sound investment

You can read what was posted - enough copies of it on here