Member Info for TimberTrader

Indeed! We clearly have an amazing team in place now, and very timely too, who, from Shaun Day's comments, have already contributed a large amount over the past months, where we've been very, very, busy in so many areas of running a growing mining business.

Quite frankly, I can't see any issues, whatsoever, apart from very positive, in having this current BOD in place NOW, to handle all of the highly complex issues, going on NOW, and, no doubt, whatsoever, increasingly, over the next few months/year!

Sorry Redtrader, but can you not see that only a 1M oz upgrade, after 15 months of further drilling, and results, at Havieron, since the last upgrade, is ridiculous in the extreme!

This is my last post on this because, clearly, IMHO, some here have an agenda! I have no idea where the poster you refer to got their +1M oz figure from, because, IMHO,it's clearly a mistake, or missunderstanding.

DYOR!

Quite frankly I don't believe that figure! It's ridiculous! Someone has got something very, very wrong!

If anyone can't see that, I give up!

What's more, I can't understand why anyone would wish to promote it!

Purely a personal view, but I'd have thought that any Havieron MR update, currently, would be for, at the very least, 10M oz Gold Equivalent.

Last week marked 12 months since the last Greatland Gold Havieron Mineral Resource Update of the 3rd March 2022, which was was based on a drill cut-off date of 2nd December 2021. That means we've subsequently had 15 months of drilling since that old cut-off date. That update increased the mineral resources to 5.5M oz Gold & 218kt Copper or 6.5M oz Gold Equivalent.

That's what I'm basing my own viewpoint on, and, as I say, it's purely a personal view, and only time will tell!

Exactly!

So, IF we do get the DFS on/around the 30th June, then we could well have the decision to mine by the end of July.

I know what you mean!! No worries!! Sorry I couldn't make this one. It sounds like it was the best so far.

Hi Panama & Bamps and many thanks for the comments and feedback.

Just one thing panama, where you posted "dfs in or by August in accordance with Newcrest. If they don’t release by august he will release his own but at this point prefers alignment with Newcrest." It's my understanding that the August date (aligned with Newcrest) is for the next Havieron MR update, not the DFS.

The Havieron DFS had been "targetted for 30th June" by Newcrest, which Shaun Day would like to think they'll hold to, but it probably wont happen until the Newmont/Newcrest takeover is resolved, one way or another. Just to note that he later said that he expected that resolution to happen in April.

I just wanted to clarify that point, as I read it anyway. TT

Some timeline points from Shaun Day:

- Havieron is ahead of schedule

- The next Havieron mineral resource update would probably be in August, and both Newcrest & Greatland Gold are aligned on that situation.

- The Havieron DFS is not expected now until the Newmont/Newcrest takeover situation is resolved, one way or another.

- The Newmont/Newcrest takeover, or not, would probably be finalised in April according to most commentators/banks, etc.

- The decision to mine would be expected within 30 days of the DFS.

Decision to mine within 30 days of DFS. DFS probably not until post any takeover situation resolution.

Shaun Day, "Byrnecut is still there"

June/July for ASX listing, probably a compliance listing.

Havieron mineral resource update expected in August. GGP & Newcrest 'aligned' on this.

Running ahead of schedule at Havieron!

OK, thanks Bamps. I agree with all you say, but it's my understanding that Newcrest still retains the right of first refusal on Scallywag. That's why I asked the question back in July, since I wasn't sure. Just for further information, here is the release for the 30th November 2020:

https://polaris.brighterir.com/public/greatland_gold/news/rns/story/w1je54w

I can't make the meeting tomorrow, but maybe someone can get confirmation, one way, or another, although not especially important, TBH.

Hi Bamps, thanks for your post regards the right of first refusal on Scallywag.

I'm confused then. Maybe I'm missing something, but I always thought that the Newcrest right of first refusal WAS in the J/V agreement from 30th November 2020.

When the question was asked to Shaun Day, as per my earlier post above, in July last year, he appeared to suggest that the right of first refusal was still in place ("yeah look that first right of refusal is if only if we went to as I understand is only when we went to divest that asset that is not our intent..")

The RNS at the time of the J/V agreement from 30th November 2020 states, "The Paterson Range East licence application was granted to Greatland in September 2018 for minimal upfront cost. Greatland retains 100% ownership of both the Scallywag and Rudall licences which do not form part of the Juri Joint Venture. Newcrest retains a right of first refusal over the Scallywag licence under the Havieron Joint Venture Agreement..."

Am I missing something else?

With respect, can we keep this thread about Scallywag and not let yet another one turn into yet another handbag fight! Thanks! TT

and, also....

...My question is can youplease clarify the current position on the original option that Newcrest has in a first right of refusal over our 100% owned scallywag tenement thank you:

- yeah look that first right of refusal is if only if we went to as I understand is only when we went to divest that asset that is not our intent, it's a core asset it's a long strike from Havieron it sits to the north west that is the you know those structures through the Paterson run in a northwest trajectory - it’s on strike I think that's some of the yeah as a general rule the best place to look for gold and copper is where it's already been found to be on strike along from that I I think that's you know one of the best addresses in the Paterson we have a significant number of targets there an ongoing drilling program so your expectation is we would not contemplate divesting it - I I see that as core and the number one thing I’d like to do is unlock the option value in that tenement for our shareholders by tagging the next ore body and whether that's another Havieron you know that's you know hitting it to the moon - but even if it's a half or a quarter of the Havieron that's still a tremendous find particularly when it sits next to existing infrastructure as that lowers the hurdle for economic returns, so it's a fantastic address it's a great post postcard to do exploration on and for all intents and purposes we have 100% of that asset.

In July last year Shaun Day covered a fair amount about Scally at the LSE meeting, when he stated the following (as always, thanks to Dip!):

Next question from Ken, keen to know about developing mines around any further strikes, he's aware that Newcrest have an optional right of first refusal at JURI JV but what if we've got a great assay at Scallywag or Goliath essentially would there be enough money to cover that and yeah and would you partner with Newcrest if that were the case ?

- look thanks Ken, so at JURI that's already in you know joint venture with Newcrest so if we had a discovery look my expectation is that we kind of fold in quite rapidly into effectively the Havieron development and perhaps become a you know a satellite ore body to that.
- in terms of scallywag that's a slightly different proposition because we hold that a hundred percent, but we value the relationship with Newcrest, I think many of the reasons that Greatland entered the joint venture with Newcrest you know at the time it did are valid today.
- having said that we're a larger you know group, we have better access to capital we have a more diverse set of skills and experience within the team so I think if we were to have a discovery there I think it just gives us a world of options.
- I think of course we'd be talking to Newcrest about bringing that into the joint venture and working out what we get in return for bringing that into the joint venture but equally it does open up to be 100& development for ourselves which then may have some you know such as a toll trading agreement with Newcrest because there is an opportunity to collaborate on different levels but I think having the position of strength with a stronger balance sheet, a stronger market cap I think what I probably most want to convey is I think we would try to take such an asset further up the value curve before we dealt with it. if not taking it all the way for ourselves.

Apart from the amazing number, the important piece, IMHO, is, "These results, together with the continual improvement in understanding of the buried geology, stratigraphy and structure, increase our confidence in the prospectivity of the ground, and our ability to vector towards intrusion related and other styles of mineralised systems at Scallywag."

These are all sighters! We're clearly getting closer! Don't forget that Newcreast Mining were drilling at Havieron for years and then left, before we came along and found the sweet spot!

Well done to the team and looking forward to progressing Scally further.