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Well, I think we all know that another 'strike' at one of our tenements, especially 100% owned, would immediately be transformational for the sp! As Shaun Day has said, many times, it doesn't even need to be anything like Havieron, it could be a fraction of Havieron (which, let's not forget, is probably one of the largest mother lode(s) in a generation, or more!).

What's more, the probability of such a 'strike' has been steadily increasing over the past couple of years, especially in the Paterson, with other very positive news from some of the 'neighbours'!

So, what I'm saying, as I've said for some time now, if you snooze you lose!

It's your choice, but, IMHO, this is a keeper, with no doubt in my mind, whatsoever!

https://twitter.com/shaun_day_/status/1560524202125406208?cxt=HHwWgMCtsc2fjKgrAAAA

I don;t understand what you appear to be implying when you say, "GGP not being able to clear this debt"?

The debt is scheduled to be 'cleared', as always was the case, via repayments, which will occur once production commences at Havieron, and not before.

The 5% that we now maintain, and not 'gifted', IMHO, to Newcrest Mining, clearly increases our value, which is positive.

...And, BTW, Shaun Day doesn't just have the financial experience, from years in the industry, but clearly, he also has the nous, and already has, to take on the corporate games that a major player(s) has, and will, no doubt, continue to throw our way!

IMHO, I can't see any issue with funding. It's just what that pans out to be. I can't believe that Shaun Day wouldn't have discussed the possible option of Newcrest Mining NOT taking up the 5% option with the banks and the term sheets. The 5% we haven't 'given away', has added value, again IMHO.

So, basically, do we eventually go down the bank loan road, the placing road, or some combination of both?

That all said, I'm more than comfortable with the MD, above probably any other MD in the industry, to take us through the best possible path for shareholders.

GLA & DYOR! TT

@ Ipad, "I gave a sneaky feeling we will be blue at the end of the day."

Well, so far it's trending that way, but, as always, it is GGP, and it's AIM...

https://www.tradingview.com/x/wYydAkXC/

Cheers Dip! TT

Another interesting take on the whole issue from 'The Australian Financial Review' today, just to add to everything else (Sub only, but thanks to Pr0t0n on the ADVFN BB)...

""While Newcrest said the decision was based on price, it may also be an important tactical move designed to avoid a price discovery event for Greatland Gold, which many observers believe is a logical takeover target for Newcrest.

Had Newcrest agreed to pay $US60 million for the extra 5 per cent stake in Havieron, it would have put an implied $US300 million value on Greatland’s 25 per cent stake in Havieron."

https://www.afr.com/companies/mining/cagey-newcrest-baulks-at-havieron-gold-price-tag-20220819-p5bb5b

Havieron Loan Agreement

In order to support the expanded scope and pace of activities at Havieron, Newcrest has agreed to provide funding of up to US$50m to Greatland via two US Dollar loan facilities, Facility A and Facility B, at an interest rate of LIBOR+8%. The Loan Agreement is expected (based on current forecasts) to fund Greatland's share of joint venture costs, including Early Works and Growth Drilling, up to the completion of the Feasibility Study.

"Facility A": a loan of up to US$20m, or a greater amount if provided by Newcrest, for Greatland's 30% share of Early Works and Growth Drilling prior to the completion of the Pre-Feasibility Study. Greatland's obligation to contribute to Early Works Expenditure and Growth Drilling Expenditure, in aggregate, will be capped at the amount of the Facility A Commitment.

"Facility B": a loan of up to US$30m for Greatland's share of joint venture expenditure, post the completion of the Pre Feasibility Study, but prior to the completion of the Feasibility Study.

Scheduled quarterly repayments of the loan(s) will occur once production commences at Havieron with repayments comprising 80% of quarterly "Net Proceeds" (revenue from sale of Greatland's share of JV product less statutory royalties, royalties payable under the JV ILUA, all charges paid by Greatland under the Tolling Agreement with Newcrest, and Greatland's share of Joint Venture operating expenditure for that quarter).

Greatland may prepay all or part of the total outstanding loan balance(s) without premium or penalty at any time.

If Newcrest exercises its option to acquire the Additional Farm-In Interest, then the purchase price payable by Newcrest to acquire the Additional Farm-in Interest will be set-off against (by way of prepayment of) the total outstanding loan balance(s) at that time.

The company expects the world-class, low-cost development expected to be fast-tracked to commercial production

Shaun Day, managing director of Greatland Gold PLC (AIM:GGP, OTC:GRLGF), has described as the ‘best possible’ outcome the retention of a 30% stake in its Havieron joint-venture with gold giant Newcrest...

https://www.proactiveinvestors.co.uk/companies/news/990548/greatland-gold-hails-newcrest-decision-on-havieron-stake-acquisition-as-the-best-possible-outcome-990548.html

"We have announced today that we will not be exercising our option to acquire an additional 5% JV interest in the Havieron project. The 5% option price was determined by an independent valued to be $60 million based on the process set out in the Havieron joint venture agreement. Newcrest earned its current 70% interest through expenditure of $65 million and the delivery of a pre-feasibility study. An additional 5% for $60 million does not meet our return hurdle requirements and we are very comfortable with our 70% interest. The Havieron team continues to work through the feasibility study, including the scheduled first store and we expect to release this in the December quarter."

Daniel Morgan

Hi, Sandeep and team, question is on Havieron. I note you didn’t exercise the option you had to get an extra 5%. Can you just talk through why a little bit broader, isn’t the value of this 5% only going to grow? And what are some of the key assumptions in the option process you were clearly uncomfortable with paying for? And I note that you do talk about your return hurdles, which I imagine that this – everything you’ve talked about in the past, I would have thought this would need it. Thank you.

Sandeep Biswas

Yes. So as you know – well, as I said, the first 70% cost of $65 million, which is an excellent investment. And if you look at our – as Sherry alluded to, we’ve got a very rigorous capital allocation program. We’ve got a lot of projects to allocate capital to. And obviously, we’ve also got our shareholders to think about as well. And in that context, it didn’t make the returns compared to putting that $60 million somewhere else. We didn’t need to do it, and we didn’t think it would deliver the sort of returns and the sort of thinking our shareholders expect from an owner’s mindset in this company.

https://seekingalpha.com/article/4535669-newcrest-mining-limited-ncmgf-ceo-sandeep-biswas-on-q4-2022-results-earnings-call-transcript

"Greatland is pleased to advise that Newcrest has elected not to exercise the option under the Havieron JV agreement to acquire an additional 5% interest in the JV from Greatland at the price of US$60m determined by the independent adjudicator, which was based on data up to 15 December 2021."

"The Board is delighted that Greatland will retain 30% ownership in the Company's flagship asset and believes this outcome delivers substantial medium to long term value to Greatland."

"We are simply delighted that Greatland will retain its 30% interest in Havieron. This was the best possible outcome for the Company and its shareholders which delivers substantial medium to long term value."

"This outcome concludes the Joint Venture process for Newcrest's 5% option."

"This outcome concludes the Joint Venture process for Newcrest's 5% option."

As I've stated before, I'm not expecting too much from the NCM upgrade, pretty much purely on their past form, but, of course, would like to be pleasantly surprised, nonetheless!

It's certainly below the 6 month daily average, so far, at least. So, what does that tell you? Tomorrow could be very interesting...TT

Same old, same old, MFU, and, absolutely no surprise here!

Tom, you just posted, "Just a little "Curious" that with news due tonight why we are at 10:94, seems a tad OTT to me and still falling."

So, that's just maybe my answer?

Not at all, It's been the standard, usual form, for some considerable time now, IMHO!