Member Info for TimberTrader

Same game play as yesterday and Tuesday.

I doubt Carney beat Gordon Brown though, who sold off around 50% of our gold reserves for only $3.5 billion, when the value today would be over $60 billion!

The ASX is closed on Monday for Australia Day.

That just leaves only Tuesday, 27th before the full December 2025 Quarterly Activities Report, pre-market opening on the ASX on Wednesday, 28th.

With Argonaut stating yesterday, "We expect GGP to deliver a beat in gold production with our 318koz forecast 3% above the upper end of the range. Higher copper prices and the stronger output should enable GGP to report AISC 5% below the bottom of its guidance range.", and my reasons given before, I'm hopeful of us maybe getting a rise in FY26 production guidance range, and possibly a reduction in FY26 AISC range. Nothing is certain, of course, but just a hope.

However, whatever happens, knowing the boss, I'm sure he'll probably have something up his sleeve regardless. GLA

GGP ASX Close UP 7.65% @ A$13.94 (£7.08); 3rd Highest Riser on ASX 200. That's UP another 4% on yesterdays close on AIM (£6.589)

Day Range was A$13.59 (£6.90) - A$14.43 (£7.33)

An interesting latest development with the USA looking to lock in supplies of critical & rare earth metals/minerals....There are many ways to skin a cat, and, as Shaun stated about O'Callaghan's, not a stake in Greatland, but there's ways where the U.S. Administration and/or other party could potentially take a stake in the the tungsten or O’Callaghan's deposit....

"The deal, which represents a 121% premium on ASM's close from January 20, sent shares of the Australian producer soaring as much as 126% ‌to A$1.63.

The buyout is significant for the U.S., which is looking to lock in Western supply ​for the metals used in applications such as wind farms, mobile phones and missiles. Australia and the U.S. signed a framework agreement for cooperation around critical minerals including rare earths last year, each pledging to invest $1 billion.

That investment, which will cut the risk ‍for other stakeholders, is part of a suite of government policies that are expected to spur more sector consolidation, said law firm White and Case in a report this week...."

https://www.reuters.com/business/energy/energy-fuels-buy-australian-strategic-materials-300-million-deal-2026-01-20/

PS I should add that these are the 'major' shorts over 0.5%. There may well still be smaller ones in play.

As far as I can see Howard, on AIM at least. I don't know about on the ASX. Maybe Element knows?

Https://finaristo.com/short-selling/shorted-companies/greatland-resources-ltd

Shaun Day in October last year, after the July-September drilling...

“The September quarter was a great start to our record 240,000m annual drilling program at Telfer, with the results to date further supporting the potential for multi-year Telfer life of mine extension from both open pit and underground opportunities.

The new high-grade zone identified at the West Dome Underground is particularly exciting. The project presents the possibility of an entirely new high-grade underground mining centre beneath the currently active West Dome Open Pit. There is ready access from the Main Dome Underground via the existing development drive already in place and a second one under development, with the ability to link to the existing Main Dome Underground crusher and hoist. We look forward to updating shareholders on the continuing progress of this project."

What an amazing zone. Yes, I don't mind saying it again, our new 'Mine within a Mine"!

Average grades higher than Havieron.

Look at the copper numbers!

Highest gram-metre intercept to date of 55.3m at 7.4 g/t gold and 0.43 % copper (411 gram-metres gold) in the December Quarter. This result is the southern most assay returned to date, and the mineral system is increasing in size towards the south which remains open.

3 Diamond Rigs turning

Forgive my enthusiasm, but even Argonaut, like the majority of brokers, have NOT included the WDU in their figures yet, even though they increased their TP to £7.70 today.

Roll on the Telfer MRE & WDU Maiden MRE!

IMHO. another classic drag it down day, and then let it go towards close, as we've seen most of this week.

UT @ £6.807.

£6.70 hit...

As I mentioned again last week, it was well reported, globally, that, in September 2025, Morgan Stanley advised shifting away from the traditional 60/40 (stock/bond) portfolio, recommending a 60/20/20 structure: 60% equities, 20% fixed income, and 20% gold.

Morgan Stanley’s Chief Investment Officer, Mike Wilson described this as an "anti-fragile" asset, acting as a "more resilient" inflation hedge in an environment of sticky inflation, high debt, and potential geopolitical instability. The gold allocation is intended to replace half of the traditional 40% bond allocation, which has shown weakened performance as a safe haven.

Although this was based, I believe, on institutional investors, can anyone imagine what effect it would/will have, even if a relatively small percentage of retail started/increased their gold holdings to even a part of this 20%!

Private investment group Wyloo has increased its shareholding in ASX- and Aim-listed Greatland Gold to 18.13% after exercising its option to acquire Newmont’s remaining 9.9% interest in the company.

The transaction further strengthens Wyloo’s position as Greatland’s largest shareholder and reinforces its support for the development of the Havieron gold/copper project and the extension of mine life at the Telfer operation, in Western Australia’s Paterson region.

Wyloo said the acquisition builds on its previous investments in Greatland and follows its support for the company’s recent acquisition of Newmont’s interests in Havieron and Telfer.

Wyloo CEO Luca Giacovazzi said the increased shareholding reflected the group’s confidence in Greatland’s strategy and growth potential.

“We are proud to continue deepening our partnership with Greatland as its largest shareholder. We believe in the company’s disciplined approach, the quality of its assets and the capability of its team,” he said.

Giacovazzi added that Greatland was emerging as a leading multi-asset gold and copper producer with the potential to become one of the most significant mining companies on the ASX.

“We believe there is substantial value yet to be unlocked from Havieron and Telfer, and we look forward to continuing our support as Greatland drives operational excellence and delivers disciplined, sustainable growth,” he said.

Greatland is advancing development of the Havieron underground gold/copper project, which is regarded as one of Australia’s most significant recent discoveries, while also working to extend the operating life of the Telfer mine following its acquisition from Newmont.

Wyloo, which is privately owned by Tattarang, holds a diversified portfolio of mining and energy transition investments. Its interests include an integrated nickel business in Western Australia and Canada, the Eagle’s Nest nickel/copper/platinum group metals project in Ontario, the Yangibana rare earths joint venture in Western Australia, and a range of base and battery metals assets.

The group said it remained focused on supporting the sustainable development of high-quality mineral projects and strengthening supply chains for critical minerals.

https://www.miningweekly.com/article/wyloo-lifts-greatland-stake-to-1813-through-newmont-buyout-2026-01-22

Mid-Week Macro

Gold was $4,000 in November, $4,200 in December, and $4,800 in January. Currently, $4,783.

Silver was $50 in November, $70 in December, and $90 in January. Currently, $91.

What’s next? The last correction was in October. It’s difficult to know when the next deep correction will arrive, but it will at some point. Both gold and silver could continue to trend higher before that correction arrives. Michael Oliver thinks that around $125 silver would be a good level for the next correction.

It’s difficult to find a reason for gold to stop rising in 2026. I think we will end the year above $5,000, and silver around $150, but both could exceed those levels. However, getting to those levels probably won’t be in a straight line. I have not been worried about the gold bull market ending since it broke out in March 2024. Since then, Gold wants to go higher. Gold is on a mission. That’s really all that matters. We ride this train until the macro indicators for gold change. I don’t think that will happen until 2027 at the earliest.

https://x.com/DonDurrett/status/2014184373529235638

PS. He has 'a crush' on Greatland!

Don't forget the copper! Just look at WUC4550068.

27.1m @ 3.2 g/t Au & 0.95 % Cu (87gm) from 323m (WUC4550068)

That 0.95% Copper is the fourth largest out of all of the WDU assays to date!

Indeed 205lover! We're already, and increasingly now, above the ASX closing price of A$12.95 (£6.55) on AIM. Currently @ £6.62.

Luca Giacovazzi’s Post on Linkedin....

"This milestone marks the culmination of a journey that began with our initial investment in 2022, when our vision with Greatland was always clear: put Telfer and Havieron together and unlock the Paterson.

It’s been a privilege to work alongside Shaun Day, Mark Barnaba, Elizabeth Gaines, Rowan Krasnoff, Yasmin Broughton, Monique Connolly, Simon Tyrrell and the rest of Greatland team to bring that vision to fruition. The collaboration, discipline, and long-term thinking across all parties has been exceptional.

Rather than pursuing short-term underwriting fees, the Wyloo BD team —led by Joel Turco—negotiated a long-term option over Newmont’s stake. That strategic decision has resulted in one of the most successful underwrite investments in ASX history!!

A great outcome built on patience, partnership, and conviction."

https://www.linkedin.com/posts/lucagiacovazzi_we-are-pleased-to-announce-that-we-have-exercised-activity-7419852704044302337-yQAV?utm_source=share&utm_medium=member_ios&rcm=ACoAAAxE6B4BDheYtlnWjOcCoWNWoibz6hQZy7I

Don't forget that these amazing WDU drilling results are giving average grades ABOVE even Havieron!

What's the new "mine within a mine" going to be? A half Havieron? A full Havieron.....?

Thanks to Stuart Hinds on 'X'...

https://pbs.twimg.com/media/G_Pz8CZWsAExupQ?format=jpg&name=large