Member Info for thelearner

EletricLion - I have been fortunate to be in GGP, continued to buy on the rise, my last purchase at 8.2p, may average 2.7 after averaging up. I think there is still plenty potential there - but will not be quick - will take some time realise it.

Condor - been here since 2017, highest price paid 69p - lowest 20p average 32.5p. Things are moving slowly on this share price, and I cannot forget when the political troubles kicked off, how my nice investment sitting with a nice profit crashed almost overnight, and I have since averaged down. I think the company are making good progress, but very slow, and it seems hard work. More drilling to prove more resource I think would be great, but focus probably correctly on going mining and creating revenue.

However - GGP and Australia is a much more stable country, and I worry about Covid spike in winter - want to stay here until mining but for the first time ever thinking about selling some and buying more GGP, even although now at 15p. Have never looked at EUA/HZM, but have taken very small punts with KEFI/UFO. Silver possibly has a lot of upside.

That will be my pondering this weekend.

Laptop15 - I was a believer. I have not sold 1 SML share - to my great misfortune, and I would never consider myself a deramper, and of course there is nothing more I would like than to see this company succeed.

However - I do not think there is anything wrong with stating my opinion about the current BOD, and I wish I had maybe listened to those who were posting warning signs about Leigh Creek and what the BOD were saying, instead of listening to the BOD who were burning cash at LC without being honest with shareholders. I think I like many reached the end of my tether with them with the very undeserved, IMHO, bonus payment recently.

You may say just sell and go - but like many others - I live in hope of seeing some SP increase to allow me to retreat. I truly hope the Prop is correct with his Multibag predictions from here - nobody would be happier than me.

I have had some luck - I chose GGP as another investment.

My only hope is that the BOD have learned a lot from the mistakes they have made and can take this company forward.
My only reservation is they have shown their primary concern is themselves and not the shareholders, or investors - boy would I like to know what the Manners family think. They persuaded them to invest more in the 1.4p placing and it's been downhill fast from there.

I have never had doubts abiot the asset Redmoor might become. Hans Camp was purely speculative exploration - which we hoped to progress with Cobre income. Cobre pays the bills but how the BOD handled the major client situation was shambolic, and a bit deceitful IMHO.

Leigh Creek - I was totally sold about how the previous owner did not have the expertise to make the mine work, but SML knew how to get it in to production and low cost and it would very soon be generating "Tsunami of cash". This has been the biggest failure by far of the BOD. I really hope they can recover this and make LC pay - but will need a JV with a good partner, and I am concerned about how long this is taking.

What have I learned - if something does not feel right - and we had warnings on this board - don't be afraid to take the profit and run. Wish I had. So far under now - just need to stay in and hope for the best - will be happy with money back.

The ones most disappointed here will be those hoping to make a very large profit quickly.
Many on here - including me - have said this is not likely to happen, and patience will be required to get maximum value.

Increasing POG is positive, as are any drilling results from hav which indicate more gold in ground, but we are still awaiting lots of information. A takeover bid could give quick large profits, but in my opinion unlikely unless we have some more outstanding drilling results from Scally.

What would be really good is great results on Scally along with another JV. Of finding some stuff shallower nearer Telfer that means Telfer could be fed earlier.

I have resisted the temptation to top up at this price, but sitting firmly on hands and not concerned.

Tarrybreeks - don't see why you should stop posting. many LTH have been misled by JP and the BOD and for me too I found the bonus award disgusting.
When I first came here - board was full of posters saying bet BOD on AIM - we were all hoodwinked.
I hope new investors are correct that this is a great entry point - but nothing wrong warning them about the recent performance of the BOD.
Nobody hopes more than me they can get this SP moving north again. TBH I'll be delighted to get out even here, and happy to get out 50% down. Kicking myself for not unloading some recently when we got up to 0.9 before the arbitration results and the prior debacle became clear.

Sorry - not read whole board - but read RNS - does this mean he has sold all his holding, or only enough to take him below the 3% notifiable holding limit?

I have to agree with the comments of Welsh Falcon at 10.43

There is also a later comment saying MRE must be provided at end stage 3 - this is not in the RNS - only requirement is a PFS.
Stage 4 requires a spend of at least $20m US on a feasibility study. GGP have to pay their share in excess of $20m.

I would say NC could argue the construction of an exploration decline could be part of that feasibility study - possibly not, but there is a partnership and I am sure they will work it out.

At the same time GGP could hold up the decline by saying we do not have funding - but could say to NC if you want to build now our share of costs will have to be deducted from our share of the future profits from the mine. I am sure this will be sorted without any issue.

Maybe now those who are thinking we will have a very fast increase in share price will realise that the real gains in SP are going to take time - what can speed this up?
1. MRE being released with news there is much more gold and copper than we thought. Likley to be late 2020 IMO and be revised upwards in 2021
2. Encouraging drilling results from our other exploration areas.
3. Continued increase in Price of Gold
4. Big investor building a stake - Hedge Fund etc

Threats now - do not see many - NC are going to mine - absolutely - and going to get there quickly.
Collapse in POG would affect SP negatively.

Now I like every other shareholder would like increase in SP ASAP. But I am still sitting on my hands and expect to have to do so for quite a time yet. The day traders will quickly leave, and may come back just before results - and then be off again.

The Mining Lease application could easily contain some sort of resource estimate with the proviso it's still subject to infill and exploration drilling where the resource is still open. Does not have to be released to markets? It's for NC/GGP and Aus Gov Mining Dept?

"Newcrest are soon going to have legal ownership of 40% of E45/4701 until the Mining Lease is signed."

This was done in good faith by GGP to allow early application for the mining permits etc, and there was no real other option that I could see as currently under the T&C's of the JV, Newcrest have sole management rights for Haverion, and there is no doubt they will soon be the partner with the controlling stake. They would not dream on reneging on the agreement they made with GGP, and I very much doubt it would stand up to a legal challenge in the highly unlikely event they did this.

"Newcrest got 70% of Haverion for free" - no they never - they got it as part of a JV agreement for a minimum spend of £65 million US. Still a bargain - but also a good deal for GGP as we could never had progressed this so quickly, and also this has hugely increased the interest in our tenements and those of other owners.

Now we might be unlucky, HAV might be the only real big find in the area, and in that case NC will have been extremely fortunate, but I am greatly encouraged by the confidence CB has in the technology they used to see where to drill at Hav, and that the same technology suggests there is an awful lot more to come in other areas.

The other big + is that large partners will defo want to be involved in any future JV agreement on other tenements, abd GH/CB can negotiate these JV's on better terms, maybe even based on final MRE - to make the gains more evenly spread between the 2 partners.

Why would we JV and not do it all alone by raising the drilling cash. There are probably some Pro's and Cons for both.

GGP doing it alone - after doing a small amount of initial drilling - if we get promising results - could do an IPO placing with a new company owning the tenement - 50% of shares to existing GGP shareholders and 50% sold on open market for the cash raise for drilling. Then if we have found and proved up tier1/2 asset - could be sold at big profit.

Doing it with a JV partner - I think demand for drilling rigs in Paterson and Australia is going to boom - normally that means prices shoot up and it gets much more expensive to drill - a JV partner might b able to secure drilling capability faster, for longer and at less cost than a small company, and they have huge expertise in mining and drilling to bring to the table.

I am still so delighted I found this share - my hands are still sore from sitting on them. I must admit my last top up was around 8.5p, I am not going all in like many others - but I am doing fine.

Blackhills - drilled by Newcrest - and GGP
https://markets.ft.com/data/announce/detail?dockey=1323-13421269-6TPG0N856S6H5BNK3FS4EVGV1D

https://www.londonstockexchange.com/news-article/GGP/exploration-update-black-hills-drill-results/14236824?lang=en GGP 2019 drill results
GGP 6 monthly report at 31/12/19
https://www.londonstockexchange.com/news-article/GGP/interim-results/14452554?lang=en

another article
https://steelguru.com/mining/greatland-gold-recovers-further-gold-from-surface-samples-at-black-hills/513796

Paddy thanks for the info re Scally & other targets

I agree about Hav - have posted it many times - patience required to achieve the full value - even the next 6 weekly results will probably not be the end of the drilling news - this will go on for a while.

Scallywag - good to know the BOD are so confident in their modelling - and why noy after Hav - but in life nothing is certain.
Drilling new targets is always a risk - if the drill results are poor will have a detrimental affect on SP - but on the other hand - if they are very promising - just the opposite.
Again - we just have to be patient. At least at Scally GH/CB are completely in charge of what is released when.
Even if the first target is mostly copper - but they find a large volume - will be a fantastic result.

That's why junior explorers can be so exciting. This one is even more special with an already operating mine on the doorstep disparate for feed - and hugely lowering the amount of CAPEX required to get to processing the ore.

My hands are sore from sitting on them :-) But I can put up with this for much much longer.

HL and trading on foreign exchanges - there are always 2 sides to a story. I had a bad experience trading on TSX - with HL - not really HL's fault.
The company I was invested with (Northern Superior - Junior Gold Explorer) decided to do a 10.1 consolidation - In Jan 19 this was the message I got.
"The Company has Consolidated its Share Capital. Under the terms of the Consolidation every 10 Shares as at the close of business on 9 January 2019 were Consolidated into 1 new Share. Please note we received the interim line which is not tradeable and we are currently waiting to receive the tradeable line. Once we have received the tradeable line it will be credited to you account in place of the non-tradeable line." So I could not trade - but looked like it would be short term.

In Feb 2019 I was told after requesting more info "we are currently awaiting the Share certificates from our North American custodian. Once we have received these we will be able to lodge them into our HSBC account and they will be tradeable. Unfortunately we do not have a timescale for this at present but we are chasing our custodian and hope to receive the Shares soon."
In April this is what I was told "Ultimately, it was Northern Superior Resources decision to not renew their CREST position which is the primary UK securities settlement system that us and many other brokers use in order to trade on behalf of our clients in electronic form. The decision to withdraw their holding into certificated form has left many clients, like yourself, without a facility to trade at present.

By placing the shares into our HSBC Custodian account once we receive the certificate is one of the only ways to offer a trading facility for a foreign stock that has been withdrawn from CREST."

It eventually got sorted out in Nov 19 - and then I can only trade by phone. During that time I could not trade the share price dropped a lot and I was stuck. Happily it has now recovered - but this experience has made me very wary of trading in small companies outside of London.

GLA who do - this is maybe an isolated occurrence. Being frozen out of having access to capital is not good - I also went through the Woodford Fund freeze at the same time.

RA - This is from the RNS for main highlights of the Farm In Agreement "During the Farm-in Period, Newcrest will act as the Manager with respect to the Tenement Blocks. After the Farm-in Period, the Participant with the majority Participating Interest in the Joint Venture will be the Manager of the Joint Venture. During the Farm-in Period, and prior to entry into a Joint Venture and the establishment of a management committee, the Parties shall establish a Technical Committee comprising of one or more representatives nominated by each of Newcrest and Greatland."

https://www.londonstockexchange.com/news-article/GGP/us-65m-farm-in-agreement-with-newcrest-at-havieron/13998113?lang=en

I would expect that Technical Committee - and GGP said representatives on the committee - to have full access to all the data NC have.

There will be a huge amount of legal text and documents detailing the Farm In Agreement - and I would imagine if NC were found to withhold any information to gain a commercial advantage there would be severe penalty clauses. I also would say NC are a Bona fide partner who would not even consider such a thing, considering the damage it would do to their commercial reputation.

We just need patience. Good things come to those who wait. GLA

mk good luck - wish I had the courage to do it - I am sitting on around 45K loss - seems to me to be worth staying in - if it all goes it goes. I am lucky - to have made it up elsewhere. I did think about selling when we hit 0.9 not long ago before arbitration results - boy that hindsight would be the most wonderful gift.

Have never looked at covid stuff - certainly has been money to be made there

I have no real opinion about which broker GGP appoint - I trust GH to run the company and have faith in the BOD. He says he wants to maximise value for shareholders - and he is a large shareholder.
Some have pointed to the Conflict of interest for JPM acting for SXX and Anglo American - and JPM took sides with their large customer.

Difference here is NC while wanting to secure the best deal for their own shareholders, also will want to keep on good terms with GGP - as GGP have hopefully lots more acreage that they want to get their hands on.

I was delighted with the last results, I keep thinking at some point this must tail off, but Hav just keeps getting bigger and better.

Each to their own - I will be continuing to sit on my hands and my shares - I have always said real value will come here in the long term, not the immediate short term. GLA.

In my opinion - there is no doubt NC will own 70% of Hav. Even if someone bought Hav with hostile takeover the T&C's of the JV would transfer with ownership.
I also think we will be at end of PH4 in much less than 2 years. Just my opinion though. The PFS probably won't be very different to the concept study promised in the 2nd half of this year.

Concept study will be fascinating. The crescent sulphide zone with highest grades is down to about 800 metres. Still grades of over 3g/t at 1200 metres and open at depth.
NC have spoken about a stoping mining operation and block or panel caving. More drilling needed before the caving infrastructure can be designed, but a stoping operation could be planned now.
Very interesting as NC want feed for Telfer ASAP.

GGP buyout, still unlikely now but you never know. If Scally drill targets produce stunning results may become more likely. Exciting times ahead.

I always try and keep my expectations realistic, and think at one point the quarterly drilling results will have found the limits and once again gladly I am wrong. Another set of truly outstanding results, and based on this more to come. When you look at figure 1, the interpreted extensions of both the sulphide and breccia zones look fantastic and also the new breccia zone.

It will need much more drilling to prove up, so more exciting times ahead. Paddy’s double horseshoe prediction from months ago looks spot on, man is a genius.

I stopped buying at 8.5p, thinking I am in deep enough on a single share. I was wrong but not worried, so delighted with my investment here, and my average of around 2.5. Will continue sitting on my hands, not seeing. There will be short term gains but the long term ones will be stunning.

Also we will be about to drill some of the new targets. Good results and the big boys will be desperate for another JV, but GH firmly in the driving seat and able to JV at much better terms than HAV.

Cannot wait for the Inevitable interviews with Sandeep and GH.

GLA

Been busy but reading some. Hope everyone there has a good night and we receive another nice update. Again I think expectations have run away too far, but hope I am wrong

Been reading further through this thread. I note a desire to trade in other markets than London - this also appeals to me. But - a word of warning - especially if looking at junior explorers on TSX - which is very tempting as very good market for gold miners.

I bought through HL after checking TSX shares could be traded online with no issue. Bought some (Northern Superior - Junior Explorer - was brought to my attention by a heavily invested colleague - for me was a punt).

The company then did a consolidation 10:1 and at the same time changed their broker who dealt with London Stock exchange - no notice to shareholders - and TBH - think it was done by the firm managing the consolidation. HL did not deal with the new firm, so our ability to trade was suspended for about 9 months - while the shares were transferred to paper I think to be held in our name, and were suspended for over 9 months - when the price dropped a lot. Now we can only do phone dealing - but at least the price has come back, and now about 25% in profit. have wondered a couple of times about selling them all and putting it in here - but holding firm - for the moment - they are about to drill again.

Ever since then - been nervous about trading small company international shares