The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
There may be a few on this board who are able to digest and comprehend the 778 pages of this Newcrest report , but I feel no shame in admitting that even trying to read 778 pages would have me asleep by the end of page 2.
And then to read that most of the figures used are so historic that it is all irrevelant blather.
It would be enormously helpful if our CEO could publish a very much shortened precis ( in Englsh ) of the Newcrest content that would be understandable to those as simple and technically deficient members such as myself ( probably about 98% of us ) , or one of our elevated board members with a greater understanding of the boards "" needs to know "" could in due course provide is assessment of of the situation ( always very much appreciated ).
What about a current MRE. My God . How long does one have to wait for such a figure !!!
I will bore and repeat , - I am a shareholder in GGP and I would like my company to be run by a CEO and a BOD that understands the requirements of their shareholders.
Tig
@@@@ Everyonesawinner...........I believe the last MRE was December 2020..... 3.4 M ozs AU / 160KT's CU.
Personally , despite the number of e-mails that SD must have received on the subject , I believe it to be a disgrace that an MRE update has not been released, since it is no longer a bit of data that has not been circulated amongst other interested parties. All that GGP do at the moment is explore and the BOD have a legal duty to its shareholders to keep them updated on progress. Failure to release figures is a deliberate suppression of the SP ( affecting all those shareholders who might wish to sell ) , and I would suggest that they continue to remind SD of this fact. The MRE ( which may well be released for the ASX listing ) is not just an Oz statistic. December 2020 is now a too long a long time to ask its current , loyal , shareholders to hang around. Drill results and subsequent MRE data should be published regularly, particularly for a small, high risk, AIM registered share , albeit we all are pretty certain that the next MRE will be looking at figures around 9 / 10 M ozs minimum.
Come on SD - let us have some facts.
Tig
And with all due respect , you TT , just bang on with your same old predictable replies.
I happen to believe as a very long term investor that all companies have a duty to keep their shareholders fully informed . There is too much repetetive codswallop as to the reasons why they do not.
This is supposed to be an open debating board.
You are right Oil Monkey. All they have discovered is a very large au and cu deposit , and they now seem incapable of keeping their shareholders updated on quantity , other data, progress , deals etc . As you say. useless.
I would have thought that Xlisting for GGP in Oz would offer huge advantage to a small AIM tiddly , unknown as yet ,company , as the biggest AU AND CU discovery in the last 30 years is an Oz discovery and will make shares available to the institutions and pension funds as well as pi,s
And hopefully with much more to come from the other 100% GGP Ppaterson prospects. Alll good news still to come ..... an MRE possibly ?????
Tig.
Just received. Courteous and informative.
Hi David
Thanks for your note, it is good to hear from you again, and we continue to appreciate your long-standing support for GGP.
We understand the importance of an updated MRE. Our preference, as always, would be for NCM as joint venture manager to provide these updates so this work could be completed and presented together in a unified way. This is the typical approach in a joint venture situation. That said, GGP has the capacity to complete the resource estimate work independently and we are now progressing this to conclusion (including technical review and an invitation for NCM peer review). As announced on Friday, we are targeting an updated MRE in the December 2023 quarter. Having control of this process is in some ways advantageous. You should have confidence that this has our diligent attention.
If you have not already, I would encourage you to explore the Havieron 3D interactive model that we announced on Friday, which is an excellent piece of work and updated for all announced intercepts.
Regards
Shaun Day
Managing Director
The GGP SP will continue to oscillate around 7p until significant events occur , and Zoros has repeatedly printed and updated what they are ( thank you Zoros ).
I do not believe that any posters comments would have much effect on the SP movement - up or down.
Patently the next MRE will shift the SP
The ASX listing will shift it
First ore will move it
First revenue will be very significant
Another significant strike on a 100% GGP prospect - Havieron 2 - will definitely shift it.
There is little or nil bad news in the offing , albeit all of the Newmont / Newcrest / GGP negotiations etc may cause delays and strategy change that will affect the SP.
At this present time, the SP represents the market assessment of GGP as a barely known Aussie , Aim listed , tiny , exploration company , that despite the Havieron strike being potentially a huge AU / CU discvery , and has a decline being constructed down to the top of the ore body , it has not mined a single ounce of ore , it has no revenue , is interdependent on decisions being taken by NM and NCM , etc., etc.
It is in a site protected by the best mining jurisdiction on the globe.
Initial assessments put it as the largest potential gold / copper discovery in the last 30 years.
However the RNS newsflow and ASX are not far away, and when it happens , I can only trust and believe that we will see 12p , 15p , 25p , 30p , as the company moves into an explorer , junior miner , producer, revenue generator state.
And maybe JV;s / takeovers . Who knows. But the future is bright. The omens are good.
Just stay patient, continue to follow the postings by the brains , the geologists , the knowledeable , the economists - you know who they are , and ignore rampers .
Tig
If you have invested in GGP and the only activity that GGP undertakes is drilling and converting those discoveries into a resource estimate , then it would be surprising if you did not take considerable interest in such outcomes and would expect such info to be published by a CEO to his shareholders.
On the other hand , such is the vast number of private UK investors , that if the CEO wished to generate cheap shares for the institutions , particularly those in Australia , then he would not take actions to encourage the retention of shares by UK holders.
GGP is undoubtably a successful company , and in no way am I going to release shares to the market. However , GGP fulfils no other function at the moment than to drill and measure the resulting ore estimates , and the growth of the prospect. And as such it should release those results ( at appropriate intervals ) to its existing shareholders. Its reluctance to do so is neglecting shareholder rights.
It is well surmised that Havieron is already almost certainly a 10+ M oz plus MRE , and already a 20M oz prospect in the near term. It i s about time that GGP fulfilled its duty and released existing known figures.
Not to do so is a suppression of the SP , and any company SP should reflect market state .
Is that not the reason investers bought the shares ? Whether or not SD is a good CEO or otherwise I do not know , but there are occasionally some reasons to doubt his purposes .
Spade , the fact is actually that a shareholder is technically an owner of the company .Very small maybe in your view but significant in my view.. A company also has a legal obligation to keep shareholders informed of significant news.
So stop banging on about those who have quite correct and legitimate but different views from. your own.
Apart from anything else , an SPshould always reflect a proper value of the company or do believe that to be untrue
Tig
We are not talking about ""ongoing "" MRE.s Dip 666 . There has been only 1 so far back in the realms of history, - I am talking about the duty , the responsibility , the obligation of a CEO ( as with all CEOs ) to keep their shareholders / company owners updated on significant news emanating from the progress of the company. This particular MRE is hardly a figure that is not already widely known. I as a shareholder have a right to be kept informed.
Tig
Toffers......I could not agree more. GGP are a tiny exploration company who's only activity is drilling holes and calculating the ore content of the prospect. I , like you have invested capital in a high risk venture and am a Co.owner of GGP. I expect to be kept informed.ed of progress by SD on a regular basis , and the current MRE should be published.
Tig