Member Info for TimberTrader

Yup, not a great day on the ASX, but we are ahead of the game again...

Northern Star -6.08%

Genesis -4.92%

Ramelius - 3.96%

Sandfire - 3.75%

Capricorn -3.26%

Evolution - 3.05%

Greatland -1.98%

Https://www.marketindex.com.au/news/asx-ipos-may-delivers-four-new-listings-june-set-for-six-more?src=search-all

RBC Capital analyst Kaan Peker maintained a Buy rating on Greatland Resources yesterday and set a price target of A$15.00 (£7.96).

IMHO we'll see another very positive rerate from the brokers as soon as we get the impending Telfer Reserve numbers later this month. My best guess would be early next week.

Listing confirmed on ASX for Tuesday, 7th July.

https://www.asx.com.au/listings/upcoming-floats-and-listings#accordion-core-b685e1e8fa-item-71418f6e5b

Gold overtakes US bonds as world’s favourite investment - The Telegraph

Escalating fears over Trump’s wars and tariffs push central banks to dump Treasuries

Gold has overtaken US bonds to become central banks’ favourite investment, as Donald Trump rattles faith in America’s political stability and public finances.

The share of gold in central banks’ official holdings of foreign currencies climbed to 27pc last year, surpassing US Treasuries at 22pc, according to a report from the European Central Bank (ECB).

Gold’s soaring price is the main reason for its newfound dominance of central banks’ foreign reserves. The cost of a troy ounce rose by 65pc last year, finishing 2025 at a near-record $4,322 (£3,209).

But the ECB said central banks were also using gold to shore up their balance sheets against the headwinds of “geopolitics” – often used as code for Mr Trump’s tariffs, wars and territorial threats.

The bank cited a survey from late 2025 in which central banks said “geopolitics” was the third-biggest risk they faced, behind only “cybersecurity” and “other cyber incidents”. Three-quarters of central banks said geopolitical risk had increased last year.

In a fresh survey from April, a month after the US and Israel attacked Iran, 70pc of central banks said geopolitics was now the most significant risk they faced this year.

A third of central banks also said geopolitics would be the most important factor guiding the management of their foreign-currency reserves over the next five years.

Gold is traditionally viewed as a haven when markets or politics are stormy. But the ECB noted several disadvantages: its price is volatile, it is expensive to store and it cannot respond as quickly to shifts in demand.

This has traditionally led central banks to favour US bonds and other dollar-denominated investments, which are highly liquid and held in the world’s most widely used currency.

However, central banks have grown more cautious as Mr Trump has pursued unpredictable policy on the world stage and piled on more debt.

The US government’s debt is growing faster than demand for its bonds and faster than the American economy. The debt-to-GDP ratio has risen from just over 100pc in the 2010s to more than 120pc today.

The value of US Treasuries held in custody by central banks and other official institutions at the New York Federal Reserve declined by $82bn in March to $2.7tn, the lowest level since 2012....

https://www.telegraph.co.uk/business/2026/06/02/gold-overtakes-us-bonds-as-worlds-favourite-investment/

Https://www.miningnews.net/miners/news-analysis/4532204/activist-fund-pushes-northern-star-auction-block

The news: Northern Star Resources said it “welcomes the opportunity for constructive dialogue” after Florida-based activist fund manager Elliott Management reportedly took aim at the gold miner in a 39-page presentation.

The context: Northern Star said it “shares Elliott’s view” that the company’s assets are capable of delivering “superior returns” to shareholders.

Elliott, which has built up a $1 billion position in Northern Star, called for the company to conduct a strategic review and consider a sale while searching for a new chief executive, the AFR reported on Tuesday.

In response to the report, Northern Star said the search for a new managing director is “well underway”, with an international search firm appointed and discussions with potential candidates taking place....

https://www.capitalbrief.com/briefing/northern-star-seeks-constructive-dialogue-with-activist-investor-elliott-management-a65dd600-ccf1-44d7-9e34-11b5c767b3fd/

For any new investors who maybe aren't aware, on 30 November 2022, Greatland announced that it had entered into an agreement with F-ly-nn Gold Ltd (ASX: FG1) under which F-l-y-nn Gold had the option to purchase the Company’s Tasmanian Tenements (see RNS Announcement titled “Greatland enters an option agreement to sell its Tasmanian exploration licences while retaining a future economic interest in the projects” dated 30 November 2022).

Greatland was paid A$100,000 by F-l-y-nn Gold (satisfied by the issue of F-l-y-nn Gold shares) in respect of the Option which was exercisable no later than 30 June 2023. F-l-y-nn Gold exercised the Option to purchase the Tasmanian Tenements.

The consideration for the purchase consists of:

(a) Initial Consideration: A$200,000 to be satisfied by the issue of two million (2,000,000) F-l-y-nn Gold shares at a deemed issue price of A$0.10 per F-l-y-nn Gold share; and

(b) Deferred Consideration:

(i) A$500,000 upon the definition of a JORC-compliant Mineral Resource of at least 500,000 ounces of gold in aggregate within one or both of the Tasmanian Tenements (payable in cash or F-l-y-nn Gold shares, at F-l-y-nn Gold’s election);

(ii) A$500,000 upon the issue of a permit to mine by Mineral Resources Tasmania in respect of any part of the Tasmanian Tenements (payable in cash or F-l-y-nn Gold shares, at F-l-y-nn Gold’s election); and

(iii) a 1% Net Smelter Royalty payable to Greatland in respect of any production from the Tasmanian Tenements.

F-l-y-nn Gold Expands Firetower Diamond Drilling Programme in Tasmania - Discovery Alert

https://discoveryalert.com.au/category/stocks/

Indeed! Here's where we've been with our copper sales:

Q4 FY25 - 3,729t PRODUCED WITH SALES OF 3,740t @ A$ 12,718/t = A$ 47,565,320 (9.77% OF REVENUE)

Q1 FY26 - 3,366t PRODUCED WITH SALES OF 3,277t @ A$ 12,552/t = A$ 41,132,904 (8.64% OF REVENUE)

Q2 FY26 - 3,528t PRODUCED WITH SALES OF 3,301t @ A$ 14,652/t = A$ 48,366,252 (9.54% OF REVENUE)

Q3 FY26 - 4,128t PRODUCED WITH SALES OF 4,620t @ A$ 15,803/t = A$ 73,009,860 (9.84% OF REVENUE)

Will miss it in future, for sure!

Time to thank you again jsp! Always look forward to this from you! TT

As posted earlier this month....A load of stuff which we can now get cracking on!

"Early works procurement for critical and specialised long lead items commenced following completion of the Feasibility Study in December 2025. Final Investment Decision is targeted for 1 June 2026, with major works commencing post FID. Pre-production activities are planned from June 2026 to September 2028, followed by ramp up to steady state operations. Completion date: 20 Dec 2028"

https://www.industry.gov.au/sites/default/files/aip/2026-04/havieron-project-aipp-summary.pdf

A great description by Shaun Day of what we've become, in an incredibly short time, whilst at the same time building a huge chest of free cash, providing the liquidity to develop Havieron, probably without even using the bank facilities, as well as other OPTIONS...A "multi-decade, world class gold-copper mining hub in the Paterson Province."

What's more, that OPTIONALITY that we've been able to develop, gives rise to, "...there will be the option to consider opportunities to accelerate elements of the expansion capex in the future where they de-risk project delivery and schedule."

What a company to be invested in!

Bamps is correct, but, although I dislike it anyway, one thread for discussing the like of politics/Trump would probably be OK, if it wasn't for the regular, increasingly 'highjacking' of most totally unrelated threads with the same content.

"Australian gold stocks bounced sharply into the close of May, with several names posting gains over 6% as a difficult month that saw many miners underperform ended well, for bulls at least.

Northern Star Resources shares added 3.35% on Friday despite faring worst of the bunch through May, down 10.43% Evolution Mining shares added 4.21% on the day, to move positive on the month, up 2.02%. Newmont gained 3.77%, almost moving back to neutral on May, down just 0.63%, as defensive positioning appeared to favour the world’s largest gold producer.

The session’s standout performers came from higher-beta names. Resolute Mining surged 7.98% to cap an exceptional 10.78% monthly gain, while Perseus Mining jumped 6.38% despite remaining 4.79% lower for May. Greatland Resources rounded out the rally with a 6.72% advance, finishing the month up 2.09%...."

Quality!

https://thebull.com.au/news/gold-stocks-end-may-strong-best-and-worst-performers-on-asx/

Yes, was impressed by Rowan at the December Town Hall.

Hi Bamps, the great thing is that they'll probably have access to plenty of Greatland data/experience on the tenements. You probably know that their office is just down the road from ours in Subiaco. Expected date for Official Quotation on ASX is Tuesday, 7 July 2026. TT

Rowan Krasnoff – Proposed Non-Executive Director

Mr Krasnoff has extensive transactional experience in public and private mergers and acquisitions, financings, joint ventures and investments.

Mr Krasnoffis currently the Chief Development Officer of Greatland Resources Limited (ASX:GGP) where he has led its corporate development and investor

relations functions since 2023. It is intended that Mr Krasnoff will be appointed as the nominee director of the Greatland Vendors after Admission.

Prior to joining Greatland, Mr Krasnoff’s experience includes positions as Business Development Manager at Fortescue Limited, Commercial Associate at IFM Investors working with its Infrastructure investments team, and Senior Associate in Ashurst’s Corporate team in Perth where he advised on and managed significant, high value and cross-border M&A transactions particularly in the mining and resources sector.

Mr Krasnoff holds Bachelors of Laws and Commerce from the University of Western Australia and continues to be a qualified lawyer in Western Australia.

It is proposed that Rowan Krasnoff will be appointed as the nominee director of the Greatland Vendors after Admission.

The Board does not consider Mr Krasnoff will be an independent director given his position as a nominee director of the Greatland Vendors (a substantial holder of the Company).

The Aventine Resources Prospectus has been published.

Greatland Resources will be a substantial holder with around 11% of the stock.

The Company is a mineral exploration entity that proposes to acquire a 100% interest in the following

projects:

• Paterson Project: comprising 5 granted exploration licences namely the Black Hills, Black Hills

North, Paterson Range East, Budjidowns, and Basel prospects, located north-northwest of

Greatland’s Havieron project and northeast of their Telfer operations in the Paterson orogen;

• Paterson South Project: comprising 2 granted exploration licences and 7 exploration licence

applications located approximately 45km southwest of the Paterson Project;

• Panorama Project: comprising 3 granted exploration licences namely the Panorama and

Panorama North prospects located approximately 300km west-southwest of the Paterson Project

in the East Pilbara; and

• Mt Cecelia Project: comprising 1 granted exploration licence located approximately 130km

northwest of the Paterson Project.

Interesting that Rowan Krasnoff is a Proposed Non-Executive Director

https://aventineresources.com.au/