Member Info for thelearner

Bamps and Hydrogen are the experts on Grades. But there are underground mines operating very profitably in Australia with grades well below 2.5g/t - which many would consider to be stunning grades for underground bulk caving.

Best example is probably Cadia East Underground Mine - 100% owned and developed by Haverion 70% owner NCM.
https://www.mining-technology.com/projects/cadia/
OK - the geology is different - it's mainly porphyry and veins - but the grades - as of December 2015, the total mineral resources were estimated at 2,800Mt graded at 0.40g/t Au and 0.26% Cu. But the size of the mine is huge, and bulk underground mining is very cost effective - was also discovered with an already built and operating mine - right on it's doorstep.
The Cadia East Underground gold and copper mine is the first Australian panel cave and the country’s largest underground mine, with significant ore reserves and a projected lifespan of more than 30 years.

Now at Haverion - the PFS only considers a very small part of the Haverion Ore Body. SD has emphasised this several times.
There is a huge amount of drilling data to be added to the next resource update, and NC are still drilling and exploring at Haverion - open in several directions with new exploration targets identified in the Haverion Tenement.
The potential upside at Haverion is IMHO huge.
When you look at the history of Cadia - it truly is district scale with mine discoveries and underground mine development in stages - which I said at weekend is how Haverion will be developed. In stages with several PFS/FS
That's why I'll continue sitting on my hands and if this SP dips again to 15/16 - I will top up more.

Yes - GGP possibly will not have income until 2024 - and then have CAPEX repayment - but not a huge amount - of course if the 5% option is taken by NC - we will have income - a lump sum.

Patience required - I never thought the SP would take off at PFS - again expectations which SD tried to dampen were too high. Next drilling results I am sure again will be stunning - lets wait and see.

https://www.youtube.com/watch?v=dB77ag0Dj1w This video showing the history and development of Cadia - including underground mines - shows potentially what district scale discoveries can bring. I hold in hope Haverion will be similar.
I also hope - but without huge expectations of another discovery on GGP ground.

2 posts since Friday - hard to believe. Thought the video was a very good watch.
I must admit the elections have had me nervous for a while - and I did consider selling some and sticking in GGP when it was down at 16p. But I never.
So like many holding and hoping for better days ahead. The drill is giving excellent results. Finance for mine build is the next really important milestone. Interesting to hear MC saying he has had offers.

I agree it's time for a deep breath - and that generally the market understands what information has been released.
That is 4.2 Moz of gold and copper, drilling ongoing. No PFS or FS or decision to mine.

Many will not know exploration decline has been started ahead of PFS, and will not know the rush NC are in to get this mine in production and feeding Telfer, and they certainly do not know what has been shared here by some of our more knowledgeable posters.
A company where Pi's hold the majority of the shares will be subject to volatility in SP. Especially on AIM where the herd comes and goes.
I would say many will be expecting too much from the PFS - I hope I am wrong and I get some pleasant surprises. Certainly if NC are worried about being a takeover target - they may want to be less conservative in the news they release. Who knows.

Tymers said yesterday many investors will have a target price to exit GGP, some will some won't.
I came here in 2019 tipped on another chat forum, read the info on the GGP website and many posts on here - and made my first purchases at 1.6/1.7p. It was a speculative investment and I'd have been delighted to exit at 10p. But 10p came and went and I kept buying - because what I saw was the drilling results and the ore body growing in size. I then started looking more heavily into our partner, NC and mining methods and costs and bulk mining. I did revise my target to 20p. But that also cam and went - and I decided as long as Haverion was still open - I'd not set any more targets. That's where I am at - been topping up ever since.

I watch with interest potential speculated share prices for GGP. I don't have any exit strategy. I think there will be more peaks and troughs as we go along the road to production. I just keep watching - and am excited by the potential at Haverion - think finding other big discoveries on other other exploration areas will be much more challenging and difficult - and expecting many holes which will not find mineralisation. It is like looking for a needle in a haystack.

WelshFalcon - thanks for that post - I have logged in to my HL account - so cannot be setup to be recurring - needs to be done for every AGM or Extraordinary meeting. Text below, and as you say would need to be done well in advance, you can instruct by secure message.

2If you wish to attend a meeting and vote you can be appointed as a proxy by Hargreaves Lansdown Nominees Limited and attend and vote in respect of your holding held on your behalf by Hargreaves Lansdown Nominees Limited. A request to be appointed proxy can be sent to Hargreaves Lansdown by secure message or post. Please note, 5 business days' notice in advance of the date of the meeting is required in order to vote/attend. Alternatively, if you wish to vote without attending the meeting you can send (by secure message or post) a voting instruction to Hargreaves Lansdown and your vote will be forwarded to the company."

Jerry - very interesting post.
I have thought for a long time - since not long after the SP drop post scallywag results that it would make send for NC to start building a stake in GGP - but there so far is no evidence they have been doing this.
I would be devastated if NC submitted a low ball takeover offer for Greatland Gold - but probably being naive - think they could not get us on the cheap. And I think even 50p would be very cheap.
From the Nov 20 JV Update
"The Joint Venture Management Committee will be comprised of a maximum of five representatives. As at Establishment Date, Newcrest shall be entitled to appoint three representatives and Greatland shall be entitled to appoint two representatives to the Management Committee."

I would therefore expect GGP to have all the data that NC have about exactly what we have got at Haverion - NC could not legally withhold any information from the JV management committee? Currently GGP would be prohibited from releasing any Haverion information - this must come from NC as they are the JV managers.
But if NC launched a hostile takeover bid - GGP would be able to release all Haverion info as part of defending what they think would be a fair valuation?

However I also know NC are large and have much deeper pockets than GGP - who until the ore starts coming out of the ground have no income - and I'd be more gutted if it ended in a legal bun fight with only the corporate lawyers getting rich.

I do think that NC are undervalued and would be an attractive takeover or merger target for a bigger major, and if Haverion is as big as we think makes them even more attractive. What NC have also done at Cadia and Red Chris is also seriously impressive - and their expertise and knowledge also would make them an attractive merger target.

Anyway us PI's are small fry, and although our family have a 7 figure share holding held with HL - I don't even know how to vote - I suspect many PI's are the same.

Hydrogen - it's us that should be thanking you, and many other great contributors to this board. I hope TMT is doing well in his new chosen path, and his thoughts would have been great to be aware of on the recent happenings.

Great post - and those potential valuations are only based on Haverion - and we have lot's of other prime exploration areas.
However - I am not getting too carried away, for me I have always thought we need to be patient and realise that this will take years to get to it's full potential. We still have no income, and we will need funds to continue our exploration programme each year, especially if we are to retain 100% ownership of our no JV tenements.

However, the PFS followed by the FS next year for Haverion, and the breakneck speed our world class partner NCM are going at to get Haverion ore to Telfer, will make if very easy for Sean and the team at GGP to be able to raise funding by borrowing.
The potential valuations you mention are fantastic, but we could find another Hvaverion or mini Haverions on our other targets, although investors should realise that deep drilling is slow and costly, and finding ore bodies is very hard, and finding large ore bodies is even harder - as borne out by the exploration data worldwide for the last 20 years.

Only time will tell if GH and CB and the team at GGP were extremely skilled in where they put the drill in the ground at Haverion, or skilled and also very lucky.

Feeling very positive this weekend, and have believed in this company ever since I was brought here by a poster on another board. When I look at the total investment I have made here, which is for me very significant, 13% in 2019, 39% in 2020, and 48% in 2021. My 2021 buys now at break even (21.5p average) , very healthy gains on the 2019/2020 investments. Overall average 6.95p.

Like many others this could be life changing for me. Very hopeful and optimistic, but still aware there are risks, but in my opinion small. My only regret was my caution in 2019/2020. I have other junior miners in our ISA/SIPP - but none with less risk than GGP.

GLA - and Thanks to all the great posters on this board. I hope you guys that go to the Stag have a great night next week.

schleimel - I remember you from the GGP board - unlike you I held and added and very happy there. Also have decent holding here - bought in too early but must just be about break even now.
I saw potentially a lot of similarities with here and Cadia - but nothing is guaranteed.
Iceberg's knowledge and posts are amazing. I am hoping for good things here too. I do not have nearly so many shares here as GGP - but just under 600K tickets here.

Texlax - nice post - I am another who has always enjoyed your input - but you have been quiet for a while? I also bought - quite a lot - on the morning of the scallywag results before they dropped - at around 33p - and have been buying all year, never selling, bought some more this week. I am lucky - bought my first at 1.6ish and bought on the way up. Average now just under 7p.

Have always been here for the long haul - my initial target was 10p. Don't have a target now - and the game has got longer - due to the size of Haverion.

Jonesrichard - not seen you for a while - at least now you quickly retracted your 100 bagger claim. I hope this will bag several or multiple times - but this will only happen over a decent time period - talking years not months.

If you look at Lassonde curve, would imagine we were art bottom of dip where we move from feasibility to development/start up - which shows typically 2 - 3 years. NC will do this quicker here, within 2 years from now I think - they have moved at impressive pace from the first drills going in at start of JV.
The next bit of the lassonde curve is depletion - but the difference here is I think this will be delayed - as we drill and explore more and find more - pure speculation of course - but this or body is "beautiful vertical large ore body" and open in several directions. This will be mined in stages - with further PFS/FS at each stage. The Haverion story will I hope go on for a long time, and as others have also speculated - if this turns into district scale discovery - well will be great for GGP holders.

Still important not to get too carried away - I did in the run up to Scally results - on our other JV and 100% owned tenements - a strike or another Haverion is not guaranteed - and exploration especially when drilling deep is difficult, slow and expensive. My hands are still sore - but I think I'll be sitting on them for a good while yet.

GLA

Some will probably find the PFS results disappointing - as many have stated it's not likely to have an increased figure on the 4.2Moz. This will come later. As will the FS next year. Even that will not be the final feasibility we will ever see.
But delivery of the PFS is the most important thing - for me there was never any doubt this ore body would be mined and feeding Telfer - the PFS confirms this.
The problem here - and it's a very nice problem is - the ore body is still open in several directions - and it looks like new finds on the edges of the ore body - so NC don't know how big this is going to end up, and until they know this - they won't be able to define at this current time exactly how this huge ore body will be mined over time.

But - they will know they are going to mine this is stages - the first stage and priority is to get the sulphide zone high grade ore at the shallowest depths to Telfer ASAP to feed Telfer and keep it running and profitable.
Other stages will follow, with other PFS/FS for reach stage, with an ever increasing resource size.

Just look at the history of cadia - and how the resource has grown over the years. My belief is that the Haverion resource figure will grow much quicker as the "beautifully shaped vertical ore body" is all in the same place and is huge - but will probably take a couple more years of drilling to prove what is there - they need to start drilling deeper from the decline once it is ready.

And as Hydro has once again eloquently stated, the best place to find gold is close to where you have found gold already.

Long term this will be a fantastic return for investors I hope, but there will be dips on the way up.

2 minute Cadia drilling history video - Haverion resource size IMHO will grow much quicker than this https://www.youtube.com/watch?v=dB77ag0Dj1w

SpadesASpade - excellent post IMHO. I actually bought on the morning of the SWAG results at 33.5p I think it was.
As I have posted previously that was down to me - and me alone - I make the investment decisions based on what I decide is credible. I was foolish - I was carried away with fear of missing out and thinking another strike on SWAG was a certainty. But I learned from this.

With regards to JoeBass - I will never take anything he posts or says again seriously - I have not read in detail all his posts from that time but seem to recall claims of inside knowledge and may posts saying SP would increase on results.
It has I think actually made some people with good sources (Spy) less willing to posy=t insight they may have.

Thanks goodness Hydrogen and Bamp and Paddy and some others continue to provide excellent research and knowledge to investors.

I am still confident I'll profit from my 33p buys, and all the others I have made since then, but also fortunate I was buying earlier at 1.6/1.7 and on the way up (but never bought enough as I was being too cautious).

Anyway - GLA - I topped up again today. Even although I said I was done - looked at XTR but decided here was a less risky choice.

yes still bemused - I mucked up my calcs - you are of course correct.
Hydrogen is again correct - dilution is common in junior miners as they need more funding to explore and pay salaries - until they are lucky enough to strike. I believe there was plenty dilution at GGP before I invested, but luckily as Hydrogen says - there is no longer any need to GGP for dilution - they will be able to take out loans against future income from Haverion. Been too busy today at work. Chill time.

Hydrogen - yes it would.
But GGP market cap just now is £620million, or $US844 or $AU1160 million.
So even although they have a great idea of the true value of what Haverion will be worth, even if I assume the offer was $300 million AU, and the share price doubled that $300 million AU would buy them 13% of the whole of GGP.

I know nothing about high level finance, but surely if NC wanted to take a stake in the whole of GGP - they would sit down and negotiate a deal with SD and his board?

I posted months ago - along with others - that it would make more sense for NC to start building a stake now in GGP compared t paying FV for 5% of Haverion. This was discounted by this board.
I think you have previously posted that over 80% of GGP shares are held by PI's - very high - and I am surprised no serious financial institutions have been build a stake.

Meanwhile have been topping up and sitting on hands, hoping positive sentiment will return to the mining sector.

Have been reading through the posts today - think this may have been covered but not sure - but the 5% option for Haverion Newcrest have is very much time limited
"(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."

From the RNS announcement https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xp4py3x

Other posts I agree with is nobody has seen the detailed legal agreement. And that there are some extremely knowledgeable posters on this board - and we are all grateful for their contributions, especially investors like me who know nothing about geology and only mining knowledge we have is what we have researched. I agree contributors with high level financial knowledge and experience are rare, but there are a few who post here occasionally.

Reading the report, usual positive spin from the bod.
Mentions a $50k govt grant for Covid 19 used to offset wage bill. Says grant and not loan, let’s hope that is correct.
Our previous failed attempt at LCCM of production from the leach piles required a lot of cash spent on getting the mine processing equipment back into running condition, refurbishment. Not clear if we have been spending any money on preservation of this equipment, or we need to repeat this process. If we secure PEPR and finance.

Nobody wants this company and share to succeed more than me. Been here a long time and like many sitting on a large loss. Like many hanging on in the hope to reduce my losses and get out.
Not averaging down, was doing that at 1p thinking it could not drop much more.
Brenda gate revealed so much to me about the people in charge here. I simply have no faith in them. It is simply not worth me selling at current prices, but would be happy to get out at 1p with still a large loss.
Trying to be positive but very hard here for me.
Good luck to new investors, the increase in copper prices hopefully will save LCCM and tin, tungsten prices and need for battery materials may help get Redmoor going. But even here lot of talk about drill targets but no drilling plans or detail on funding for drilling. Think all current work coming from a govt grant?

Anyway lets hope hydrogens geo friends and sources are correct.

Sulphides contain many metals, gold, silver, platinum, antimony, bismuth, copper, lead, nickel, zinc, cadmium and selenium and probably many others.

The average electric car requires six times more minerals than a conventional car, according to the IEA. Lithium, nickel, cobalt, manganese and graphite are crucial to batteries. Electricity networks need huge amounts of copper and aluminum, while rare earth elements are used in the magnets needed to make wind turbines work.

The average time from discovery to a producing mine is 16 years, and ore bodies, especially large ones are being discovered much less frequently. Fortunately for us Haverion will be much less.
I don't worry if they find something that requires extra CAPEX - the CAPEX will only be spent if they are sure there is lot's of profit to come from it. It will already be getting mined if it exists alongside the gold and copper.

Limited access to known mineral deposits is another risk for the worlds future requirements. Three countries together control more than 75% of the global output of lithium, cobalt and rare earth elements. The Democratic Republic of Congo, China and Australia.

Wonder why Australia wants nuclear powered subs as a deterrent?

As usual here patience required - I'd buy more if I had more funds - but happy holding.

I was in telegram at the start but could not keep up with 2 groups - but would love to see Hydrogens post. Might install it again and see if I can get back in.

Not sure my post below is correct and covers Paterson - as I download the M2 document and could not find Greatland in the search.

https://www.ga.gov.au/about/projects/resources/paterson this page gives results of geolical studies done in paterson.

Anyway off to watch football.

This South Australia Govt link explains exploration licenses - when I have used this in the past found it hard t use
https://energymining.sa.gov.au/minerals/exploration/exploration_licensing
All the data is readily available on SARIG - this is MG33 document link https://sarigbasis.pir.sa.gov.au/WebtopEw/ws/samref/sarig1/wci/Record;jsessionid=403FF5BCEF9B4E767F55D6604DC1A431

These are some of the new aims in the Jan 21 changes (everything is extremely complex)
Greater turnover of exploration licence areas through a 50% compulsory area reduction after 12
years and a maximum term of 18 years,
- Increased security of tenure through longer licence terms and decoupling of expenditure
commitment regulation from the licence renewal process,
- Increased focus on timely and genuine engagement between explorers, landholders and other
stakeholders throughout the exploration process,
- New expenditure commitment policy that features a low starting rate, scaling up to a mature
rate reflective of diligent on-going exploration,
- New policy on expenditure commitment noncompliance to work in conjunction with the lower
commitment rates to ensure that where the commitment is not being consistently met,
tenements will be strictly reduced and can ultimately be cancelled,
- Increased focus on new data acquisition/on-ground exploration work (minimum 60% of EL
expenditure) after the initial 2 years of a licence,
- New Amalgamated Expenditure Arrangement (AEA) policy that eliminates regular mandatory
AEA area reductions (due to mandatory reductions now required for every EL under the
amended Act), excludes ELs with active advanced prospects and has an increased focus on
spatial distribution of expenditure across the AEA area,
- New EL division and amalgamation processes to facilitate commercial dealings,
- New Retention Status on ELs to provide expenditure and area reduction relief if access approvals
are unable to be obtained or for ELs with uneconomic resources,
- Modernised mining register to provide greater transparency of information and greater
accommodation of, and protections for sophisticated commercial dealings,
- Forfeiture provisions expanded to include exploration licences as an additional means of
ensuring EL holder accountability

Very rarely do I ever post on this board about individuals.
Unimaginative, in your post today at 11.06 - you mention my post where I said I bought at 33 along with many others in run up to Scallywag results - with fear of missing out. I made it perfectly clear the only people I recall ramping were JoeBass and to a lesser extent Mercedesman.
My post was mad in support of Hydrogen and what he does for us here - but you tried to make it look as if I had said I was influenced into buying by Hydrogen - nothing could be further from the truth. I decide what I buy, and I decide what influences me - my actions are down to me alone.
So I'm afraid you are going in my green box. Each to their own, but I do not enjoy your posts, where I always look forward to posts from Hydrogen.

I never realised Hydro was from Manchester - I hope he is a red, like me. I live far away from there - but will be at Old Trafford soon - I was brought there first when Martin Buchan moved from Aberdeen - and definitely cemented in my heart when sir Alex moved to Old Trafford.

For me posts by Hydrogen on here are among the first I look for, along with Bamps, Paddy and some more. He is a huge asset on this board.
I don’t think Hydrogen was ramping when we were waiting on scallywag results, but JoesBass and Mercedesman were in my opinion and I would be wary of anything they posted, merc less so than Joebass.

I was caught up in the hype and fear of missing out on the run up to Scallywag results. I made a large purchase on the morning of the results at 33. I am lucky though, was in early, and after many top ups post Scalloway results have averaged up to just under 7, and this is by far my largest investment.

What did I learn, to be more cautious on Aim. While our SP was rocketing, our only real big discovery was Haverion. Newcrest who will own 70% of hav, their SP was hardly rising, although they have other huge assets. And to be quicker to take a bit of profit. My philosophy has always been find a share you think has long term potential and hold. I can now see the benefits of trading sometimes. Have not done it yet, only risk is you get the timing wrong and cannot buy back at price sold or lower.

Someone once said nobody ever went bust by taking a profit. It’s the timing of that which is so difficult.

This will be a long time to reach maximum potential. Will we find another Haverion, the chances are slim, but we have as much and maybe a better chance than most others IMHO.