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Chief executive Shaun Day says Telfer should have more life in it than is indicated by the current reserve

Greatland Gold (GGP) says its new Telfer gold and copper mine could stay in production well beyond the 15-month life outlined when its purchase was first agreed with Newmont (US:NEM) last September, boosting earnings as the company continues to work towards a future opening of the separate Havieron mine.

Last month Greatland reported production of 29,864 ounces (oz) of gold in the first four weeks of owning Telfer. Boosted by the new production and record prices for the precious metal, its market capitalisation moved back above £1bn in late January, the first time it has hit that mark in four years.

Chief executive Shaun Day said the company's arrival as Telfer's new operator has brought "optimism" at the mine site that previous work to find new gold to extract could now prolong production.

Drilling done under the existing pit has identified "the highest grade [of gold] seen at Telfer since 2005", he said, adding: "It's only now we have two rigs drilling that out, even though it's a glittering prize." Newmont, as the world's largest gold miner, has less interest in eking out all resources, whereas investors in a smaller company such as Greatland value even incremental increases in mine life....

https://www.investorschronicle.co.uk/content/620e8497-c5d8-5557-a523-79d766ad7347

@ pernickety The Havieron AISC is shown on the Greatland Gold website and presentation as USD 818, not AUD.

@ plode "Shaun issued millions and millions of shares and the price has never really recovered."?

I think you'll find that the GGP sp is up 72% since the placing.

...Back in the blue...

It'll be interesting to see who it is.

The latest from Franklin Gold And Precious Metals Fund covering Q4 2024. I'd suggest that the fund is doing significantly better at the moment with the recent large move north in the gold price, so Q1 2025 will be interesting.

They are one of our largest institutional shareholders with a total holding of 286,875,000 shares in GGP, as at 31st January.

"Newmont (the fund's top holding as of 31 December) detailed a plan to divest six of its operating mines and two development-stage projects, as part of its 2023 year-end results presentation in February 2024. Since then, the company announced the divestiture of the Telfer mine in Australia to Greatland Gold (not a holding when announced but now a holding) in September, the sale of its Akyme gold mine in Ghana to Zijin Mining (not a fund holding) in early October, the sale of its Éléonore mine in Canada to Orla Mining (fund holding) and sale of its Cripple Creek Mine (United States) to SSR Mining (not a fund holding) in December..."

https://seekingalpha.com/article/4755033-franklin-gold-and-precious-metals-fund-q4-2024-commentary

Indeed Bamps! Plus, for clarification, everything else I've posted on today, with regards the ASX listing, Newmont ownership, etc., I'm more than completely happy to leave to Shaun Day, and our amazing BOD, to handle in the best possible way for the company shareholders, both now, and going forwards.

That all said though, IMHO, Newmont may well, possibly, be 'allowed' to sell all/part of their 20.4% shareholding in the forthcoming ASX cross listing...which would negate any further AIM placing for same?

As always, only time will tell, and I look forward to it too!

Newmont are not able to sell up their shares though, are they. They are our largest shareholder, with 20.4% of shares on issue, but they are still subject to an initial 12 month voluntary lock-in, and a further 12 month orderly market arrangement, and, also. a relationship agreement with us.

Up to US$100 million of the Acquisition cash consideration is deferred until Havieron commences commercial production and subject to a gold price hurdle. Realisation of any deferred cash consideration is linked to a successful operational scenario, so, which demonstrates Newmont's support of Greatland's stewardship of Havieron and Telfer.

Now at up 5.56% @ 8.075p, even with the usual MM's bid/offer spread manipulation too!

You know where we're going, because there's clearly a mass of people & institutional investors wanting your shares, but playing the usual manipulative games to get them!

Not me! The usual games will be played, but, apart from the usual suspects, we all know where this is going!

DYOR & GLA!

The rise could be, in part at least, the interesting piece in The Sydney Morning Herald about how Antipa cored three prime intercepts in a single diamond hole at Minyari Dome, and how some may have missed the significance.

https://www.smh.com.au/business/companies/antipa-nails-90-7g-t-in-long-series-of-gold-intercepts-at-wa-project-20250203-p5l98z.html

So, currently, since we agreed the purchase of Telfer & Havieron (remaining 70%) in September last year, the gold price in AUD is up 23%, and, since the official takeover in December, it's up 13%!

Shaun Day probably can't believe it! The gold price is now over AUD 4600!

https://www.tradingview.com/chart/?symbol=OANDA%3AXAUAUD

Typo, AUD4600!

Indeed, and in Oz Dollars it's heading for AUD2600! Shaun Day should have the guys & gals shoveling every piece of ore into the trains!

When you do, I'd sell and buy GGP! ;-)

This could be the short squeeze Archer mentioned at the weekend.

8.05p...

Just had offer of 7.95p to sell, so definitely on the up again...