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Hi Bamps, that may well be the case, but actual publication of a Feasibility Study is no longer an actual part of the farm in agreement, as far as I can see. Again, once phase 4 is complete (now encompassing the PFS), the farm in agreement ends. It is then that the 5% option can be excercised.

· In order to incorporate ongoing growth drilling activities, the parties have agreed a structure that allows Newcrest to deliver the Pre-Feasibility Study in Stage 4 (Pre-Feasibility Study originally to be delivered in Stage 3):

o If Newcrest incurs an additional US$25 million by way of Farm-in Expenditure (other than Early Work and Growth Drilling Expenditure) in relation to the Havieron Joint Venture within a period of 24 months from the date following satisfaction of the Stage 2 Commitment, Newcrest will be entitled to earn an additional 20% interest (cumulative interests 60% Newcrest; 40% Greatland). Newcrest has met this expenditure requirement for the Stage 3 interest.

o If Newcrest then incurs an additional US$20 million by way of Farm-in Expenditure (other than Early Work and Growth Drilling Expenditure) in relation to the Havieron Joint Venture and also delivers a Pre-Feasibility Study within a period of 24 months, Newcrest will have the right to earn an additional 10% interest (cumulative interests 70% Newcrest; 30% Greatland). The Pre-Feasibility Study must be supported by an Indicated Mineral Resource.

o Newcrest retains its option to acquire an additional 5% interest at fair market value (cumulative interests 75% Newcrest; 25% Greatland). Fair market value will be determined by negotiation between the parties, or, if the parties are unable to agree, then by an independent valuer.

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

NOTE: * In November 2020, in order to incorporate ongoing growth drilling activities, the parties agreed a structure that allows Newcrest to deliver the Pre-Feasibility Study in Stage 4

It's all pretty clear on the website guys:

https://greatlandgold.com/projects/havieron/

Bottom of the page.

Agreed notrader. As I stated earlier, Newcrest Mining have the option to acquire an additional 5% interest at fair market value as soon as Stage 4 is completed. Achieving all of the Stage 4 requirements completes the Farm-in Agreement.

@ Bamps, I believe that StarBright meant that they have the option, which mat be excercised later, after completion of phase 4 (completion of the farm in agreement).

@ StarBright, "Is it possible that these terms were dropped entirely, so NCM already hold the option and there is no time limit upon its exercise?"

It's certainly possible, and more likely now, IMHO, but unless the two companies are prepared to release the fine print of their agreement we may not get to know. As mentioned earlier, it may be worth a specific question at a future shareholder Q&A. Whether or not it would be answered is anyone's guess.

Can we please keep this thread about the 5%?

If anyone really wants to delve into the whole "Fair Market Value" issue, this may be of interest:

"Mineral Property Valuation: Principles and Procedures 101" micon International (Mineral Indusry Consultants). They would possibly act in the industry as independent valuers:

https://www.micon-international.com/mineral-property-valuation-principles-procedures-101/

Basically, Newcrest Mining have the option to acquire an additional 5% interest at fair market value as soon as Stage 4 is completed. Achieving all of the Stage 4 requirements completes the Farm-in Agreement.

...Hopefully any shorters will have the same thing coming on very soon, requiring bicycle clips! ;-)

Shaun Day covered some of these issues about broker notes, the share price, etc. in the shareholder Q&A on 'Investor Meet Company' back in July.

Of note would be 15:00 - 17:15 and 21:40 - 24:20, but if you have time it's a good reminder of what we have!

https://presentations.investormeetcompany.com/investor-meet-company/GREATLAND-GOLD-PLC-Live-Q-A-with-Shaun-Day-CEO-of-Greatland-Gold-plc?bmid=94d67b745cb9

Good to see our partner helping out in the local community.

https://www.interior-news.com/news/mining-company-steps-up-to-help-with-covid-outbreak-in-tahltan-territory/

....Buy Gold!!

Seriously though, how will people know what I'm going to eat?!! ;-)

It's s absolutely not de-ramping. Sorry, thats ludicrous! It's purely been dampening an unrealistic exuberance that was around the market about the PFS. He has quite simply been giving the market and shareholders the facts about what the PFS will actually contain.

I personally don't believe that most sentiment, in terms of a large move north in the GGP sp, is based on the upcoming PFS at all. As I mentioned before, sure, there are some investors who are in a mind frame similar to that which we saw during the lead up to the Scallywag first drill results, but they, again, IMHO, are getting way ahead of what the PFS is going to include.

In several interviews and podcasts over the past few months, it's been clear, to me at least, that Shaun Day has been attempting to dampen this exuberance. He made it quite clear, again, a few weeks ago, "The PFS is due out in the second half of the year and that's really well advanced. Again, when we've talked to the market about this, it's based on a point of time. It's based on where that..the cut off for drilling was around 1st March this year, so all of the drilling you've seen for the last 6 months is upside on top of what's been captured in the study and really it's going to be a segment of that...It's really focused on the fast start."

Now, that aside, the upgraded MRE, expected in early December, is another matter entirely with regards to being a massive catalyst to raising the sp!

October could well be one of the, if not THE busiest month, ever, for important results/reports for Greatland, followed by the Havieron MRE upgrade shortly thereafter.

Jean-Pierre Verster, the founder of a South African hedge fund Protea Capital Management, has said he does not believe there is “intrinsic value” in cryptocurrencies. He insists that cryptocurrencies have “elements of a Ponzi scheme” and for that reason, he has not invested in them...

https://news.bitcoin.com/cryptocurrencies-have-no-intrinsic-value-says-south-african-hedge-fund-guru/

Indeed, that may well be true too! You can also probably add the auditors, who often just happen to miss major discrepancies in accounts because they don't want to lose their fat fees (or have maybe just sent in interns, clueless about any industry, and cheap to pay, but excellent at working photocopiers! ;-)

Indeed! Basically, doing the complete opposite to what they recommend, has been the best approach, IMHO!

Like most economists in their ranks, they are pretty clueless about what's happening in the real world:

A mathematician, an accountant and an economist apply for the same job.

The interviewer calls in the mathematician and asks "What do two plus two equal?" The mathematician replies "Four." The interviewer asks "Four, exactly?" The mathematician looks at the interviewer incredulously and says "Yes, four, exactly."

Then the interviewer calls in the accountant and asks the same question "What do two plus two equal?" The accountant says "On average, four - give or take ten percent, but on average, four."

Then the interviewer calls in the economist and poses the same question "What do two plus two equal?" The economist gets up, locks the door, closes the shade, sits down next to the interviewer and says, "What do you want it to equal"?

Let's be honest here! Does anyone, outside of their financial cabal, really listen to what the likes of JPM, or Goldman, say about anything?