Member Info for thelearner

http://blog.fordia.com/blog/comparing-diamond-drilling-with-reverse-circulation-drilling#:~:text=Usually%2C%20RC%20drilling%20is%2025,rock%20is%20not%20too%20high.&text=The%20way%20a%20bore%20hole,a%20sample%20from%20the%20ground.

Brief comparison of RC and Diamond drilling.
As far as I know both done from the back of a truck.

It only takes 10 minutes to find out - can only go as far back as the last financial report - published Nov accounts to end June 2020
https://greatlandgold.com/wp-content/uploads/2014/01/GGP-Annual-Accounts-2020_FINAL.pdf

Page 5 cash deposits just over £6 million. Up from £2.79million in 2019. Funds to be used to accelerate exploration. Loss for the year was £5.1 million.
Staff Costs £774k, director bonus £460k, director emoluments shown as just over £1million - don't know if that is the other 2 figures added or both go together. Accountant I am not. Huge amount of info in the report.

I am not sure if there is more warrant income after this. Can't see any RNS about this - but warrants and options here
https://greatlandgold.com/company/

Not me. Need to think long term - not write of something after 3 short drill holes in a virtually unexplored area. I have not given up on SWAG.

Magic - great work with the video - thank you.
Bamps - again - great reading your posts.
Limited budget exploration - huge area to cover. Remember I am not familiar with mining, oil drilling yes.
Oil - if we had to go through cover we'd go straight down through the cover then deviate at an angle - as if there is an orebody you are looking for - you will cover more horizontal area drilling at an angle.
I am assuming with the drilling trucks - you drill at and angle but straight holes. If this is the case - I can see the limitations with RC if you have deep cover to go through - so you would need a lot of holes and not getting far horizontally through where the ore body could be?
So diamond drilling - you can cover more horizontal area by going deeper.

I am surprised reading comments like Scallywag is a duster. 3 short holes in a huge area with multiple targets.
Sometimes explorers (gold and oil) get very lucky by getting the needle in the right place in the haystack early - lot of luck in that. So we need more drilling, and possibly more budget - and hope we get lucky.

For me this share is derisked by Hav - it is huge - and will prove to be. Anything else is a bonus. There is a fair probability something else is there - just depends how hard it is to find and the time and money that takes. We got lucky with Hav. But it's not all luck - CB decided where to drill and drill deeper.

Initially I did not think the Juri JV was a great deal. have now changed my mind - wish though we'd got $30 mill to drill instead of $20mill.

Thank you - great work and summary.

Hello panama - I saw your post about your mother a few days ago. Brought back sad memories for me when we lost our mother earlier this year - just before pandemic - but at least we were with her in the last few days and had a normal funeral.
But I always remember the wonderful life she had and the wonderful mother and wonderful childhood we had, and the wonderful memories my kids have of their granny.
My thoughts are with you and condolences to you and your family.

I've been in GGP for about 18 months - much less than here - but spend most of the little time I have over there. I had fill orders filled on the drop today - with hindsight at too high a price - but have not sold any - same as here.

I also only saw some of the things posted on the GGP boards today, but Elise1 who first appeared here as a novice and nice poster I seem to recall, said some shocking things on there today, including posts hoping those who had lost a lot were contemplating suicide - and they had some other things that many did not like.

I also bought some more here today. I am glad drill is in the ground - here low cost RC drilling and shallow - will not cost much to target the highest grades - sound move by MC.

Over at GGP - have drilled 7 holes in the Scallywag tenements, reported on 3 RC holes - not to full target depth - GH the CEO stated the results showed there was mineralisation. Many expect every hole to be like Haverion. There are 4 diamond drilled deeper hole results to come, and they are defo going back there this year - exploration and finding large gold/copper deposits is not easy - and deep is expensive. They also have 30% of Haverion - stunning find - and getting bigger every time NC post drill results.

GLA here and there.

Sammy - I've been in GGP a while - not sold any - and not another penny going here from me. Have not sold a single share here either - turned out to be a huge mistake. I don't think I am repeating that at GGP - but only time will tell.

Floater - she first appeared (I think) on the CNR board where I mainly watch and sometimes post - been there a long time. She presented as brand new to investing, very friendly, chatty and keen to learn, and came in at excellent price in early 30's and then said took profit when it spiked in the 60's (I never as usual!). Then I saw her here - although hard to follow this board - and then seen the change.
I never responded to any of her posts - but will be glad she is gone.
She probably knew many posts would be removed - so people could not see the gloating at others possible misfortune - which I will never understand.

I had fill orders in today for 33 - not concerned at all - my timing is always off - but I was gambling on good scally results - which is still possible only later. I still have faith. We have Hav.
If you look at how few huge gold deposits are found - it's not easy - takes more than 3 drills.

I never like to comment on individuals in a negative way. Elise first appeared on the CNR board - invested at the right time and got loads of useful advice from helpful posters. same when appeared on here.

Shocked at recent behaviour - just shows you cannot always tell when people are behind a keyboard.
Be nice if she just went off elsewhere.

LTH's on here I think have a good idea who the genuine good and nice people are.

I had a couple of fill orders this morning - which will have easily been filled at 33p - yes I was gambling on a positive Scally RNS - and the first 3 holes are not good. 3 holes in a huge area - I will listen to GH thanks.
And I still believe in Haverion - along with NC.

Hi bitcoinbuyer - just read your Saturday post - 2 days too late - read xtract investor presentation from June - very well done - that defo ha the potential to be the next GGP - well done. I have researched the Cadia story a lot - same area - and pororphory had Calum Baxter excited. Might dip my toe in with a small investment.

I don't see how we can value Cobre MCAP at £8million. WE have at Cobre a contract to sell waste material and the contract has to be renewed every years. Good year sales of $3m. Any equipment we own - lose the contract would be fire sale - don't get me wrong - makes us money and I think it is a valuable asset as produces revenue and profit - which helps fund our BOD.

Nobody will be happier than me though to see some positive move upwards in this share price.

But interesting that some really positive investors like Bitcoinbuyer have lost patience - but may return. AIM - needs news to move. A lot of impatient money moving about looking for a fast profit.

I am also pleased to see CNR on the up - all supposed to be on a well respected German Investor magazine writer saying the thinks will be take over target in next year or 2 at 3 x current price.

I logged on tonight to HL and now have the proceeds from some poorly performing funds I put orders in to sell yesterday. Have a fill order for here in the morning. Some in a fill order for UFO, not sure where the rest will be going.

Been thinking a lot about GGP - saw the article paddy posted on twitter - thought it could have been much more upbeat than it was. I think Hav is going to keep growing. I think we will get encouraging results from Scally. My previous targets here for end of last year was 10p, then 20p. I now think - or maybe I am dreaming - that within 2 years - a takeover price of £1.50 would be achievable. But I could well be wrong. I do think being invested in PM's is the place to be.

Typical, placed orders to sell a lot of poorly performing funds yesterday. Wont have the proceeds for a few days. Some was going here. I am adept at missing the boat, but delighted with the rise.

Been busy - but today have being going through my funds in HL and putting in sell orders for badly and very average performing ones.
Some will be going here, and possibly some to CNR and possibly some on a risky junior. But all going into PM's.

From Juri RNS. This announcement is great news. May have a small positive impact on SP. We are still according to NC 2 to 3 years from mining.
When you look at what is involved in building an underground mine, you can see why transition from explorer to miner is so hard, and we are lucky, the mine is already there.
The JV is fantastic, hats off to GH and CB.

· In order to support the planned acceleration of the construction of a box-cut and decline and a faster rate and scope of planned spending on exploration activities, Greatland has agreed to fund 30% of Early Works and Growth Drilling Expenditure prior to completion of the farm-in :

o "Early Works Expenditure": all capital and operating expenditure incurred during the Farm-in Period for activities such as the construction of a box-cut and decline and associated early works including camp, access roads, bore fields, offices and related surface infrastructure, but does not include any expenditure incurred for modifications to the Telfer Gold Mine processing facility or for the construction of any haul road (which are subject to a Decision to Mine). The commencement of the construction of the box-cut and decline is subject to receipt of required approvals.

o "Growth Drilling Expenditure": all exploration expenditure in connection with growth drilling on that part of the JV Area being outside of the area of the Initial Inferred Mineral Resource which is expected to be delivered in December 2020.

o Greatland's obligation to contribute to Early Works Expenditure and Growth Drilling Expenditure, in aggregate and prior to the completion of the Pre-Feasibility Study, will be capped at the amount of the Facility A Commitment (US$20m) or such greater amount as provided by Newcrest.

· In order to incorporate ongoing growth drilling activities, the parties have agreed a structure that allows Newcrest to deliver the Pre-Feasibility Study in Stage 4 (Pre-Feasibility Study originally to be delivered in Stage 3):

Floater, the $50m loan will take care of GGP share of funding up to Production of the Feasibilty Study. PFS is at the end of 2021. NC have not given us a target for FS and ultimate rescission to mine, which is in reality already decided.
The $50m (in 2 stages) loan will cover
Box cut and decline construction to the top of the ore body at depth of 420m.
Infrastructure at Haverion and access roads at Haverion, not access road to Telfer.
Infill drilling required to produce JORC MRE for FS study.

I personally then think we will have more costs for the construction of the underground mining structure, and any required modifications to Telfer. This is when the sale of the 5% in my opinion will happen. The other option is GGP find another loan to cover this.
NC have said 2 to 3 years to get to mining from here.

Further info about what the $50m loan covers according to RNS in next post.

This is one of the key steps on the road to mining at Haverion, which will be a huge mine. I think the underground mine will be built in stages over mine lifetime as NC have done at Cadia, and some of the future development costs will come when production has started. The haulage costs for ore will be CAPEX.

o "Facility A": a loan of up to US$20m, or a greater amount if provided by Newcrest, for Greatland's 30% share of Early Works and Growth Drilling prior to the completion of the Pre-Feasibility Study. Greatland's obligation to contribute to Early Works Expenditure and Growth Drilling Expenditure, in aggregate, will be capped at the amount of the Facility A Commitment.

o "Facility B": a loan of up to US$30m for Greatland's share of joint venture expenditure, post the completion of the Pre-Feasibility Study, but prior to the completion of the Feasibility Study.

Have been saying for a long time we need to have patience with this share to see full value.
Yes news will move the SP - but all the SP moving news is not going to arrive in 1 month.
Haverion - we will get updated drilling results every quarter. It will keep growing.
Haverion - we will also get some updates on the exploration decline progress and progress towards Feasibility Study - not sure we are getting a PFS now? Did we skip that as stage 3 is completed.

Scallywag - yes we will have initial drilling results soon hopefully - but very likely will need a lot of further drilling.
PRE and other areas - wont get any real news until late Q2 or Q3 2021 and some may be later.

Nobody would be happier than me with a huge increase in SP as soon as possible - just don't think it will happen - unless somebody tries to buy out or take over SGP. Could happen.
2021 will be interesting. Have not bought since 30.5 - main reason no ISA allowance. I probably should have sold some funds for that last dip. Have never traded any - been too nervous to.
GLA

haha - well said - or "well not said" Spy

Lupidog - would not have touched Mustang with a barge pole - if it is wound up - another very nice lifestyle earner for some of our BOD.
They cannot lose - they could do a JV with themselves - SML - for Leigh Creek. Or wind up Mustang with a tidy sum earned.

Maybe I am just too old and cynical.