Member Info for thelearner

190 miles for me but depends when / where and work schedule.

Not really posting about warrants, but just to say yes I have thanked GH for hat he did for GGP and the shareholders, but we seem to have forgotten Calum Baxter - he decides where to put the drill bit in the ground - which is not at all easy, and I hope he can repeat the Haverion success - but it's not easy at all. And deep drilling takes a long time - even to prove something when you find it.

Davie I could be but pretty busy work schedule - and depends where at

Article comparing RC drilling and Diamond Drilling
http://blog.fordia.com/blog/comparing-diamond-drilling-with-reverse-circulation-drilling

Its hard to find out a typical drilling speed as it depends what they are drilling through, but they will have a rate for a specific area.
Dec to March 20 - NC did just over 10,000m of drilling with 8 rigs at Haverion. Around 14 metres per day - if the figures in the report are accurate. This is also probably high compared to a single hole - as they can reuse the top section of existing holes to save time. So this rate is a rough average for Haverion using existing holes for re-entry I'd say - but I am guessing.
Not every exploration report gives the total depth drilled and number of rigs though - so hard to figure out.

My view on GH. He did an outstanding job as CEO of Greatland gold. Personally, even where the SP sits now I am sitting on a very large profit. He bought the 500K shares when he was CEO.
If he needs money for anything personal, or to invest elsewhere or start a new business - that IMHO is completely his own business, the same goes for any shareholder - if you need to sell it is your right.
He is no longer an employee of GGP and can do what he wants. He can express an opinion about GGP on twitter or any platform he chooses. His twitter account clearly states not investment advice.
Does he need to explain why he has been selling GGP - not in my opinion.

This board, every 6 weeks we have a build up of feverish excitement, expecting earth shattering news from the NC drilling report, and then disappointment - even when the results are excellent.
The current drilling programme is clearly focussed on proving up the resource required under JORC for the PFS.
Haverion is open in multiple directions - and NC will decide when to strike out with the drill and see if the orebody is bigger in these directions, but the drilling resource is limited and they need to keep up proving resource with infill drilling.
They may have started - we had some excellent new results from the 4 reported drills.

The most exciting open direction for me is at depth, but we really will not see anything on this until after the decline is completed, when they can start drilling from the decline.
Bamps has explained countless times how hard DC drilling gets as you go deeper, and this also increases the drilling cost. makes perfect sense to wait until decline is completed to explore in this direction.

So much patience is required to get maximum value and SP from Haverion.
Elswhere - at Juri - the drill is in the ground, and my worry is that false expectations are raised here like they were at Scallywag. We are exploring - we will get holes which do not encounter mineralisation. We could also be lucky like we were at Hav with the first drill hitting - but this is extremely rare. Again patience required.
Drill to gold coming out of the ground does not happen quickly. It is happening quicker at Haverion than any other deep mine has eve done I think.

LTH - someone said did not need to buy as SP increased - this is true - but I did continue to purchase. My most expensive purchase was at 33.5, and I invested another £40K from 30 - 33.5p. Do I regret it - of course - my timing was a spectacular failure - I bought on the morning of the scally RNS. 2.5 hrs would have made a huge difference. Am I worried I will not break even or make a profit on this - no - I'll just have to be patient. The £40K was from my ISA and I'd made gains elsewhere.

Why was I buying on the morning of Scally RNS - I thought with Hav we are pretty much derisked - I was taken in like many thinking we were guaranteed a hit from the 7 holes at Scally and I did not want to miss out - so my

Could be. I have been saying for a while would make sense for them now while sp is low. They do mention organic growth as an objective in their quarterly. Buying a stake in GGP would give them bigger share of Hav and our acreage in Paterson.

I said yesterday I was not expecting any earth shattering news in this report.
The only bad news was weather delayed drilling.
The new drilling results we got were good. Sandeep has said every drill hits mineralisation.
New growth targets inside Have tenement blocks identified, but for future drilling so not yet.
The GGP RNS is reassuring, 204 holes completed so more to come in next 6 weekly drilling report.
8 rigs working again.

Newcrest paying off debt bonds and very healthy financials. Cadia wow. Bulk underground mining can be very profitable.
Newcrest have money for organic growth opportunities, interesting, certainly they are targeting growth at several projects.

Nothing here worries me. Patience required. If I was looking for short term spectacular gains, already had those and banked. Long term more gains to come, even from Haverion alone.
Another hit with exceptional gains will spike SP, but need drilling to prove up.
When I bought, initial target was 10. Raised it to 20. Then stopped setting targets. It is already beyond my expectations and for me will get better. Have averaged up to around 5.7. No concerns for me.

I was tipped about RMM a few months ago, hesitated but bought some last week. Up over 20% - but there for longer term, and the 20% is never real when you look at the spread. I do sometimes invest smaller amounts on shared tips from people on here I trust.
Busy full time worker - so don't have time to deeply research everything - or monitor more than 1 share chat forum. One day maybe.

Hi TMT - pity you will not be here so often - hope you are happy in your different changed world - and after what you've been through hope the changes are helping you. I look forward always to hearing your views on GGP.

There are only a few almost certainties.
1. NC have the right to buy 5% of GGP share of Haverion at FMV.
2. NC are going to mine Haverion - SB has said as much.
3. NC do not want anything to slow down the start of mining at Haverion - they need the ore for Telfer.

The Juri JV I think came about as NC were spending much more than the Haverion JV amounts, and it was purely the size of the ore body and amount of drilling required which was slowing the JV progress.
We were going to get to the point when Haverion requiring to raise funding or the whole project would be slowed.
NC fixed this quickly, by providing loan finance to GGP to cover their costs up to FS.
NC negotiated a very good deal, GGP completed Stage 3 early, and got an excellent Juri JV deal. We will probably never know if NC wanted PRE or Scally JV - or if GGP prioritised PRE to NC over Scally.
GGP will need more finance before the start of mining. The means to get the ore to Telfer has still to be decided / built and GGP have to pay 25/30% of this dependent on our share at the time. GGP will also have the same % of the costs for the stoping mining operation - and maybe some of the $50m load will be unused.
Finance - SD will be able to secure this, and worst case NC will provide it - at a price - as they need this to progress ASAP.

I have for a while thought NC would take a stake in GGP - the cost would be low now, and it may cost less than 5% of FMV of Haverion.
Would NC buy GGP outright - I don't know - but if we were struggling to raise finance, and slowing down Haverion development, possibly they would - they will not let anything slow down Haverion development.

I have sold nothing here - like many wish I had in the high 30's to buy back in, but have always been here for the long term.
I'd hate GGP to sell any % of Haverion until we know the real size of the asset - which I think will take at least another 1 - 2 years. We still have to drill deeper once the decline is built.

Would I like the opportunity to take some nice profits - of course I would, but would I sell at 30p if I think it's going to 60/90p - no I would wait - unless I really needed the money.
How much is GGP going to be worth - we simply do not know - we have an idea from Haverion. The drill is in the ground on some of our other prospects, and I think we all know, another strike will make a huge difference.
But any other strike, if we get very lucky again, will take years of further drilling - at Haverion after 2 years of JV - we still have no idea of the real size of the ore body.
Mining exploration to full value takes a very long time. Especially with deep ore bodies, and especially with very large ore bodies. Many explorers never even find a commercial discovery, let alone get it into production. SD helped take his previous company to this point.
A shallow strike on decent sized orebody would be fantastic for GGP.

GLA

I am sure many get confused by the terminology that is used when speaking about the size or potential size of the deposit
https://www.rareelementresources.com/disclaimers/industry-definition-relating-to-resource#.YIHMluhKhPY
hopefully this will help
At Haverion we have Inferred Mineral Resource Estimate of equivalent of 4.3 Moz AU, but this is only from part of the Ore Body.

The Inferred Mineral Resource is centred on the South East Crescent and adjacent Breccia Zone including a portion
of the Northern Breccia. Outside of the estimated Inferred Mineral Resource, mineralisation remains open with results
identified from the South East Crescent and Breccia Zone, North West Crescent, Northern Breccia, and the Eastern
Breccia. This indicates the possibility that the resource could continue to grow over time with additional planned
drilling activity.

Since the MRE RNS Newcrest have also said new targets have been identified within the Haverion Tenement blocks.

NC cannot start talking about Mineral Reserve, or proven or probable reserve until after a Pre-Feasibility Study is completed - which will be Q3 or Q$ this year.

One thing is sure the numbers being talked about will only get bigger.

Looking forward to next set of results - but I do not expect anything earth shattering - but hope I am wrong.
Looking forward most to see if we find out who has been hoovering up the shares. Hydrogen has given some nice clues.

Hi DJ - eventually bought some RMM last week - should have taken your advice sooner. DVH and you when I see you posting I defo listen.
I still hope I can break even here one day - even with the current BOD.
GGP my biggest hope though. Like many should have sold some in the 30's and got back in now - never good at selling when on a good profit - hence why I am down here. GGP though I am still well up and have been continually topping up including this week.
I am hopeful at CNR too - been there a good while and currently up. Again missed profit opportunities but bought at the bottom.

I suspect like many - busy with work - don't get the chance to pay so much attention as I'd like.

I had 2 fill orders for 5k each filled this morning with h/l, got emails confirming purchase, was about 3% below Fridays close. Happy with that. My last week fill orders would have been better but pitched too low.

Thanks Bamps - first time I had seen the Figure 1 and Figure 2 on the Hav RNS - I thought looking at the plan view they drilled in the correct place but just never went deep enough, but figure 2 shows 2 of the histroic holes going into the top of the ore body - just. Quite unlucky then?

Hi Prop - it was much less than a year ago DJ was posting about RMM on here - few months I think - but I was still buying GGP heavily at that time. Before the big dip.
DJ was I'd say a huge ramper here - I think he admits that - but he saw the problems - told many of us - and we ignored him, and ignored Nickel Investor's warnings.

I hope you are correct about SML - I've never sold a single share - which turned about to be a huge mistake. Will be delighted if I can break even.
I totally agree about the BOD here - have lost all faith in them, Again - hope they can prove me wrong.

I am always too buys to read the whole board, but browsing through posts - was interested to hear some views that GGP would be selling it's assets like Haverion and remaining an explorer.
That's not my view, and I am not sure it's the view of the new or outgoing CEO either.

The new CEO and the board have stated their aim is to grow GGP into a multi billion dollar company. He was part of the management team at Northern Star Resources Limited who from 2010 until now have grown their gold production from 100,000 oz per year, to 900,000 oz per year, and returned fantastic shareholder value - one of their key aims - which is also an aim of GGP.
They have done this by finding and producing their own mines, sometimes in partnership with others. https://www.nsrltd.com/about/

An explorer needs income to explore, or money in the bank from sale of discovered assets. The only way to really give value to shareholders is in the form of special dividends when they sell an asset, holding back enough capital to pay for the next exploration programmes and operating expenses.
Many explorers need to keep issuing shares to get exploration funding - and if you have a lean time with the drill - it's very easy to go out of business or get diluted to pieces and to be in a place it's hard to recover from.

GGP have had some of these troubles in the past - but now have a golden asset - Haverion, which is going to grow and grow, and in 2 years start producing a steady income stream for the company for decades, and increase SP and market capitalisation.
Some of this income will fund exploration programmes - and potentially development of other assets already on our books with proven reserves.
We have another JV - with many targets - for which we will end up paying 25% of the exploration or development costs if we find anything, after NC have spent the initial JV amount ($20 Au I think) on exploration.
We have other areas to explore which are owned 100% - but we need funding or income to continue drilling on these areas.

I think we'll be able to borrow for the other CAPEX costs that will be required at Haverion - in excess of the JV loan being provided by NC.

I think SD and the BOD want to follow a path taken by Northstar, and become a miner an explorer, but I could be way off the mark, so investing here is a long term venture.

There is of course the curve ball, that someone will try to buy and takeover GGP - it must be a very attractive target.
That's why I eagerly await more info from Hydrogen an co to see who, if anyone has been building a stake in GGP.

GLA - lets hope in 2021 Haverion continues to grow - and we have more luck with the drill at PRE and Scallywag.

I bought RMM this week - DJ was on about then ages ago.

Hawkmoon - all the best - I site here on a big loss thinking I should have sold up either when it briefly reached 0.8 to 0.9 when we were in court about Brendagate, or when I was buying GGP at 1.6

Hindsight is wonderful

People just have to be patient. There is no drill in the ground now and there won't be until we get results of the aero surveys. There will ne news as assay results arrive for the remaining holes, hopefully good news, and the aero survey results will be needed to plan for next phase of drilling - with 2 rigs according to the last interviews.

I bought another tranche here earlier this week - with the full realisation it would be a while until we started drilling again.
If there is a chance of multiple porphyry finds - that excites me - just look at the Cadia story over the years - which is 100km away. Massive reserves, multiple discoveries - which have not always been easy to find, and now an Negative AISC.

Although in mining exploration - it is all risky - no guarantees.

SAS - for me it's not the £20 a month - I am not a professional investor - have a day job and not much time - and am not trading as such. I only check a couple of times a day, and try and catch up on forums evenings/weekends.
When picking where to invest - I try and pick carefully shares that I hope will give me a return - short term for me would be 3 months, but mainly in the long term.

Maybe I should not be on AIM - but was very glad I was when I found GGP.

https://www.blackstarnews.com/global-politics/latin-america/nicaragua-invasions-of-indigenous-land-intensify-amid is this the article which was published in Oct 2020?

If it is - pretty one sided and I don't exactly see Condor & MC has behaved in the manner described. cannot speak for calibe and b2gold - as know very little about them. Seen plenty evidence posted here that locals are pretty supportive of work being done by Condor?

Being in Nic makes me much more nervous than other investments is safer political environments.