Member Info for thelearner

I have been with HL since I started self investing, around 2010 - until then only investments were company shares (Oil).
I have never looked at what they are charging me - but we (the missus and I) have for us a good bit invested in there now - TMT - where do you think the cross over point is in terms of charges? This is more relevant as I hope GGP is going to make our pots even bigger!

I am still working and lack of time is my biggest problem for looking at things like this and for looking after my investments better. Some of my funds have performed quite poorly - and it's very easy to take your eye off the ball - they have been more than made up for by the very well performing funds - which mainly look like technology funds at the moment.

Good gold/commodity funds are hard to find.

schleimel - no those words are not in the JV. JV ends at completion of stage 4 is how I read it. NC have the right to buy a further 5% at FMV. GGP can do what they want with the remaining 25%. But at stage 4 - they have liability for their share of any spend above $20mill US on feasibility study costs - if the study costs do indeed exceed this. Then they are responsible also for their share of mine development costs - CAPEX - but not likely to be earth shattering. Telfer is there already. Telfer will take a toll processing charge is how I would think it would work.

I am a novice to mining. In the oil business minority partners can make life quite tough for the operator/major partner. They have to be involved and agree to everything, and approve all OPEX budgets and additional CAPEX. But at the end of the day - all partners want the same - maximise the return.

JV - NC have full control of what happens with JV. They are in a rush to complete - and to own 70% of the Hav block.
I am certain they will want to continue an amicable relationship with GGP. When the JV is completed - they relinquish the right to first refusal on the rest of the Paterson GGP Blocks (there is some strange text in the RNS about extending JV or something - but to know exactly what happens you would need to see legal agreement).

MRE - GGP should have all the data that NC have from drilling - GGP have a person on the management committee - and as a partner have a right to all the data - and the output of any concept/feasibility studies. GH/CB I do not think will be easily fooled or rolled over. And I do not think NC will want to roll them over.
The MRE will get bigger I think as more drilling data is obtained.

The 5% has to be sold at FMV. The other 25% can be sold at whatever GGP think is fair market value and to anyone.

If we get good Scallywag initial drill results - I'd be very happy for GGP to enter into JV negotiations with NC - but also with any other major who might be prepared to offer better terms.

Very interesting times ahead. The 23rd July is just a small step in what is to come. patience is required here.

From 21st may 2020 RNS
"Once the regulatory approvals are complete LCCM can look at re-starting operations subject to financing. The directors believe that LCCM is ideally placed as a second income stream for the Company with a short development timeframe and low capital costs to first production. "

The Nov 2019 RNS has the detailed feasibility study for mining at LC.

I am glad to see any blue. I'll be happy to get out of here with a smaller loss than I currently have. I really do hope the BOD can turn this around - but the recent bonus awards I just find unbelievable.

Good luck to all getting in at this price - I bought all the way down bevelling this BOD could turn this around and have watched the SP continually falling. Hence I will not buy a single share more in this company - think I own around 8 million already.

I have very little doubt that at Haverion we have a very large gold/copper resource that is going to be mined ASAP by Newcrest - there is very little doubt about this.

Many on here are pointing to the drilling update on 23rd July as being game changing - I am not so sure it will be - could it be they are drilling so fast it is taking longer to properly assess and evaluate the drilling data than it takes to get the raw data?
NCM are going to take great care to ensure all drilling data released in reports is correctly analysed and accurate.

Meantime, in the background, I am sure that NCM and GGP have much more knowledge about the data than we ever will.
I'd love it if CB at some point in future accidentally showed what might have been the HAV 3D model again.

On 23rd July - I hope we get more really good drilling results and possibly some more knowledge on what is happening in NW and SW - if the SW drilling has confirmed this is the location for the decline - really good news .

I still think the release of the concept study they talked about before will be very enlightening. Anyway, not long to wait now, 11 days and counting. Great investment - still think full value will take a while - but no problem for me.

And excited about starting drilling on our other targets.

Read this morning that Newcrest had removed their represenattive from the SOLG board, disagreement about funding. NC wanted it raised through issuing equity (dilution) and SOLG going for finance deal.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2150-tsx/solg/79258-solgold-plc-announces-resignation-of-director-2.html#:~:text=BISHOPSGATE%2C%20LONDON%20%2F%20ACCESSWIRE%20%2F%20June,today%20resigned%20as%20a%20Director.

Interesting that NC had built up a stake in the company.

Looking at the Ming report - they were very upbeat on the prospects for HAV and not sure why they let it go. They certainly did not go deep enough with the drills. Intersting part of the report for Hav I read was

"The data suggest that depth to basement increases significantly toward the east across the
tenement with cover depths at Havieron and Outamind exceeding 400m. However, on the western
side of the tenement the cover depth is anticipated to drastically reduce to less than 100 – 200m. "

We know top cover is generally 400 to 500 metres at HAV. Would be nice to find some mineralisation much nearer the surface that could be mined quickly while building decline and caving structure.

I do not think we will have a Feasibility Study by the end of this year.

NC have said they will deliver first a "Concept Study" and I am sure this was in 2nd half 2020 - for me this will be extremely interesting.
By the end of Stage 3 of JV - which is covered by spend in $US and the production of a "Pre-Feasibility Study" which will probably be an update of the Concept Study.

End of Stage 4 - This requires a spend of $20 mill US - and production of a feasibility study - GGP are liable for Feasibility Study costs in excess of $20 million US at their ownership share - if the costs of the feasibility study do exceed $20 million US.

The feasibility study is the really important one. They do not have to worry about designing a process facility - it is Telfer - they need to know how to build decline and the Block caving structures, which requires the majority of the explo drilling to be completed, and how to get the Ore to Telfer. They also need a good knowledge of the amout of resource in the ground and grades.

I think end of stage 4 and feasibility study will be in 2021 - maybe by end Q2 - but this will be a moving target.
Posted it many times - but to get full value from this share will require patience.
Things I hope for once to bring quicker rises in share price.
1. Continued excellent drilling results at HAV showing more Au/Cu in ground than anticipated.
2. Shallow mineralisation with decent grades somewhere at HAV which could be conventionally mined while building decline and block caving infrastructure
3. Excellent drilling results from other GGP targets.

Downside risks - there will always be some
Financial market crash - impacting gold price and investment - this could be negative but equally could be positive if gold price increases
Early takeover of GGP
Think you have others covered - Covid 19 2nd wave - only could potentially delay.

GLA

Magictrades - the geology is beyond me (as I do not have enough time to study in detail) and thank you for your very well informed posts.
https://www.smedg.org.au/Sym99cadia.htm this article may interest you - DISCOVERY OF THE CADIA RIDGEWAY GOLD-COPPER PORPHYRY DEPOSIT
There are currently 2 Au Cu Porphyry mines in Australia - the other one is Northparkes
https://www.mining-technology.com/projects/goonumbla/

I'd take a 3 bag from here - and be out almost breaking even!

Prop - that's what some were saying when i was buying at 1p! DVH was going to trade from 1p to pay for his holiday - look what happened!

TarryBreeks - I completely agree with that post about the AGM. But I imagine they will say they need to meet important financiers/auditors/lawyers or the like - or the company rules say AGM must be in London.
I've not been keeping up with what is being allowed at AGM but all details are here
https://drive.google.com/file/d/1TOr56r-ZwwI1yv7jfL2xXR85NU3zgyJR/view

Only 2 shareholders required for quorum and being supplied by company. All other votes by proxy. I own over 7 million shares but have no vote - as help by HL.
There are 5 resolutions and nothing about remuneration.

Opportunity to buy - maybe - but not for me with my money - sunk too much in here and been led down the garden path by the BOD - I'll be happy if I can even get 75% of my stake back - but I am not selling. I missed the opportunity. I still hope the BOD can produce LC then Redmoor. There is still hope although my faith in the BOD has been badly shaken, don't know what the manners family think.
Also the large shareholders and BOD have benefited from warrants and options - so won't be as underwater as may of the PI's.

I was wondering who were the major shareholders - not much time to research - but found this

"On further inspection, we found that 51% of the share register is owned by the top 7 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones." from this article
https://simplywall.st/stocks/gb/materials/aim-sml/strategic-minerals-shares/news/what-kind-of-shareholders-own-strategic-minerals-plc-lonsml/
But I think poorly written - counts HL as an institutional investor - where in reality that is PI's buying and holding with HL.

Then looked here https://www.strategicminerals.net/investors/shareholders.html and that confirms how poorly written that article is.
Now I've never really looked at options/warrants - but the directors maybe have not done brilliantly either? Don't know - I am sure others could advise.

Mineralholder - having looked at other developments - drilling has continued after feasibility studies - and MRE's are often updated. I think the concept study in 2nd half of this year will be very interesting. As will where they put the Exploration Decline.

For now - the good news just keeps on coming.

Yes it is depressing. I have stayed in all the way here and watched my investment diminishing. Will not be selling though - missed the chance a few weeks ago at 0.9p.
I am also not buying any more. Redmoor looks like a great asset, and I have always said Cobre is critical to the future of this company.
LC - I am nervous - it has swallowed a lot of money, we are still waiting on permits and I am not sure there is any visible plan to see how much expenditure and exactly what is required for this mine to start producing revenue. We were sold on the claims from the BOD that they had learned from the mistakes of the previous owners and could make LC extremely profitable with not too much expenditure. Sadly never materialised.

Redmoor - to be fair to DJ he has posted for a long time about the conflict of interest with AB.
I cannot see how investors can look at the BOD with a great amount of faith. Issuing us with a clear plan of the requirements for LC would be a good starting point.

I am lucky I found GGP early enough. have not sold a share yet, and not taekn any profits - but feel very confident my investments there are CNR will more than make up for SML - which was my biggest investment. I was totally taken in - and at this moment feel quite foolish.

TMT - I completely agree - the 5% fair value has to be negotiated - and agreed - if there is potential for an increase in MRE as more evaluation drilling is carried out - GGP could insist as part of the sale a further payment based on increased resource.
Nothing will get in the way of NC starting mining - when JV is completed and feasibility study is produced, they have 70% holding and are in driving seat.
Only thing they need is GGP share of development costs - GH could borrow to fund these - I do not think they will be huge.
NC - if there is an opportunity to conventionally mine part of HAV they will go for this while they build decline and caving infrastructure underground. They want feed for Telfer ASAP.

It's hard to plan the mine and caving structure underground until you know what is under the ground - hence the large number of rigs and drilling rates - 24/7.

All the news we are seeing is very positive.

StellaBob - read that presentation - I should have taken a punt on Artemis

I see they are also listed on Frankfurt and US exchanges - ARTTF:US in the USA - does anyone know if HL would allow you to buy these in UK ISA? I'd be happier buying US shares with HL, or on Frankfurt exchange.

Paddy, Merc, Spy - thanks for the info and explanations. Let's hope it turns out to be more great news for GGP.

I posted a coupel of months ago for info looking to take a punt on Artemis - but was put off due to only being listed on ASX, and I still feel that way - after having some issues on TSX shares with a junior miner. But GLA who have and will take punt on Artemis - could be great news for them as well.

Time will tell. Patience required.

Maybe still looking for a non mineralised area to start the decline?
Activity in SW seems to be too much for this - really hoping they have found something exciting there.
I won't complain if the SP rises - but like many others - I think real value increase will be slow and steady as we get more info from drilling, and the concept study.
Not bothered if it keep growing - would be fantastic for shareholders. There is a bit too much ramping going on IMHO. Much more than deramping.

Spy - hope you are correct. I think the people who want a very quick very large profit here are going to be disaapointed.

Those who want a very large profit and are prepared wait for 1 - 2 years for it will be very well rewarded.
There is always the chance someone could make an offer that GGP could not refuse - but chance is slim.
I think I'd be dissapointed now with 10 mOz - but only time will tell.

If it ends up we could quickly mine with an open pit to feed telfer while constructing the decline and panel or block caving structure - I'd be very happy.