Member Info for TimberTrader

The short answer is I don't know right now. A lot will surely depend on the outcome of the 5% FMV. However, luckily, we have Shaun Day at the helm, who is very well experienced in all these matters from his previous employment records.

SD has been saying for many months now that he's been talking to the banks, and indeed has several proposals on the table, as mentioned, yet again in the Sunday Roast podcast last week (Thanks to Dipp for the transcription).:

- Priority is fully funding Havieron, the first $50m USD pays existing NCM loan balance, remainder goes to developing starter mine for Havieron (note: $73m required approx. and of course a larger amount could see spare cash)

- In parallel with that, have been engaging with banks (about a dozen Tier 1 commercial banks have been wanting to engage) as they see Havieron as a world class, low risk-low capex, brownfield development opportunity (with a major partner like NCM) so they really want to be involved

- If we can bring in some debt, if there is funds available through the option exercise (which of course may not happen, but if it is), that may be our pathway to being full funded

- Being fully funded is a huge catalyst for value and usually helps rerate companies, so keen to complete debt process, add to that this 5% option and potentially gives a lot of confidence around Havieron being fully funded but potentially also well-funded (dependent on 5% outcome) to unlock other opportunities in the portfolio including further expansion at Havieron.

https://twitter.com/GreatlandGold/status/1491581833557028866?cxt=HHwWhMC96cvxlLMpAAAA

Yse, he did say that! "The Feasibility Study is already flagged to be 50% bigger than the Pre-Feasibility Study"

As Shaun Day has indicated several times in the past few months, "The one we're really keen to get into is Ernest Giles"

"Havieron doesn't need to expand to be world class"

"Havieron just continues to give, and that's all part of delivering, firstly, the start up mine, as the SE Crescent, tailor made for our balance sheet - Drive in, get into production, move that high grade ore through the mill and generate free cash flow, but then to re-invest into the broader Havieron opportunity. It's brilliant to work on an ore body like this"

Thankfully, as stated in the latest Fraser Institute Annual Survey of Mining Companies, "Considering both policy and mineral potential, Australia is the most attractive region in the world for mining investment. Western Australia (4th) and South Australia (7th) appeared in the global top 10 on the Investment Attractiveness Index in this year’s survey."

https://www.fraserinstitute.org/sites/default/files/annual-survey-of-mining-companies-2020.pdf

In the Havieron PFS it was stated that, of course, the actual IRR of the Project will vary according to the gold and copper prices realised.

They used the following base case assumptions:
A gold price of US$1,500/oz
A copper price of US$3.30/lb

The estimated Base Case Project IRR is 16%, which, of course, varies using different price assumptions:
Scenario Assumption IRR
Gold price (US$ per ounce) 1,200 5%
Gold price (US$ per ounce) 1,800 24%
Copper price (US$ per pound) 2.60 14%
Copper price (US$ per pound) 4.00 17%

The copper price TODAY is c. US$4.50 per pound....

It'll be interesting to see where the copper price goes in the future with the massive demand expected over the years...

Just touched $1833...

Over 3 years ago, Gervaise Heddle stated about the HAD005 assays, ""Very significant...Spectacular results...Truly a world class intersection...High grade gold & copper...Multiple high grade intervals...Particularly encouraged about copper...Very significant copper..."

He went on to say, several times, "Don't forget the copper"

Sorry, what I meant to say above was that, "There is no reason why we won't see similar sp rises again at Havieron(s) alone (with it still being open in all directions and at depth)!...

AND, it could well happen again! Like many LTH on here I took a measure punt in GGP back sub 1p. Havieron has, of course, been the reason for the sp gains over the last few years. There is no reason why Havieron alone could see similar rises again. However, as i often say, don't be myopic! We have many other tenements in an area where, increasingly, it's evident that there are other large areas of valuable mineralization. Luckily we initially had Gervaise Heddle & Callum Baxter, who got in early, ahaed of the sheeple, and invested in other potential tenements. Shaun Day has added to these further.

It takes time!! Investing in mining is never a quick thing! It can be frustrating, yes, but the rewards can be fantastic too, 'betting' on the winners!

My point again....We could certainly see another set(s) of major gains for GGP, and the probability increases with every new find in the area.

Would be nice! Luckily all my prior major gains in GGP have also been within my S&S ISA.

Thanks, but that only works if you have a missus and/or kids. On the CGT front, unless GGP sky rockets, which would be nice of course, I can't see myself going up to the £12,300 CGT allowance anyway.

Indeed! As one commentator said in my "White House" post earlier, "The World Bank has said we're going to need as much copper in the next 25 years as we've mined in the last 5,000. And every year, we can produce enough nickel for 280,000 electric vehicles from this project."

My S&S ISA is now 80% GGP, and, similarly my 2021/22 ISA allowance is exhausted. I've been topping up in a general trading account, ready to transfer into my 2022/23 ISA in April, by which time we'll have had the upgraded Havieron MRE for sure, probably the 5% FMV agreed, as well as further assays from Havieron and other sites. There is no way we'll be at these ridiculous sp levels by then, so don't want to lose out on the gains leading up to that.

Interesting listen/read....

The Biden administration recently canceled a proposed mine. While environmentalists celebrated, it shows how hard it is to build a domestic supply of the minerals needed to switch to a green economy...The transition to a low-carbon future will require a lot of metals like copper, nickel and lithium to build everything from solar panels to electric car batteries. The Biden administration's recent decision to block a proposed mine in Minnesota shows just how tough it could be to develop a domestic supply for those metals....

KRAKER: In many ways, the Twin Metals mine is a classic NIMBY, or not in my backyard, fight. Opponents raised concerns over environmental risks. Supporters tout the high-paying jobs.

But increasingly, mine backers are starting to make a more global argument. Twin Metals' Julie Padilla says the project would help provide the metals needed to confront climate change.

JULIE PADILLA: The World Bank has said we're going to need as much copper in the next 25 years as we've mined in the last 5,000. And every year, we can produce enough nickel for 280,000 electric vehicles from this project.

KRAKER: Predictions of critical mineral shortages have spurred a new focus on developing a domestic supply chain, with some carmakers even investing in mines. Becky Rom, national chair of the Campaign to Save the Boundary Waters, argues Twin Metals would do little to help domestically since the metals it extracts would likely get shipped abroad for processing. She says the U.S. should instead turn to its allies with larger reserves.

BECKY ROM: The secure supply chain of metals comes from Canada, Norway, Australia, where the amounts of critical minerals are far greater...

https://www.npr.org/2022/02/08/1079300246/the-white-house-wants-to-transition-to-a-green-economy-which-is-tricky-without-m

Lull before the storm?

Sorry, forget the 'tiny' volume. I was looking at the wrong row...anyway, looking like blue..

Tiny volume so far today. However, I tried a dummy 1M sell and no problem getting an offer on ii. looks like we should be blue shortly...