Member Info for TimberTrader

Shaun Day on 'X':

Strong FY26 start: 80,890oz gold & 3,366t copper at AISC $2,155/oz in Sep25 Qtr.

$284m cash flow lifts cash to $750m, debt free.

Record 240,000m drilling with new high-grade zone at West Dome UG.

Announcement: http://bit.ly/4hwHLif

Slide Deck: http://bit.ly/4ojxDMb

https://x.com/shaun_day_/status/1982707543987376230

Hi Bamps! Full transcript here:

https://www.investing.com/news/transcripts/earnings-call-transcript-greatland-resources-q1-2025-sees-strong-cash-flow-gold-recovery-93CH-4309331

Full transcript here:

https://www.investing.com/news/transcripts/earnings-call-transcript-greatland-resources-q1-2025-sees-strong-cash-flow-gold-recovery-93CH-4309331

I didn't have any real expectations as I don't know what the sales team do in terms of spot/forward sales/contracts. The POG was pretty flat for the first two months of Q1, with a spurt up in September. As I say, I hope that any sales not made maybe in September would drop into early Q2 when the price was even higher. Anyway, the main point was that I'm not concerned, and IMHO it wasn't any reason for any lack of market response today. Just my view.

UP 6% on their A$13.20 TP only 3 weeks ago!

Greatland Resources (GGP) Retained at BUY at Canaccord Genuity with Price Target A$14.00 (£6.87)

https://www.marketindex.com.au/news/evening-wrap-asx-200-firms-on-global-rush-into-shares-tech-banks-and

Hi Charlie! I don't see that myself. The peak price in Q1 FY26 was A$5900, so A$5227 looks excellent to me. I'd also add that it may be beneficial for Q2 FY26, because any sales we didn't make towards the end of Q1 would possibly drop into Q2, when the market price has been even higher. Looking very good for the Q2 sales, as Shaun Day also implied.

Mid-80' OR ABOVE!

Great news! Further to the potential issue mentioned last quarter, massive credit to the team, it's not actually been an issue and they're now expecting the recovery rate in FY26 to continue in the mid-80's!

Indeed! A 'new mine' within a mine, with the vast majority of the infrastructure in place already!

I've said it before, and I'll say it again....It's rare for the GGP share price to rise immediately after company results/reports, especially sustained. I remember many times over the years that it falls, for no apparent reason at all, and we have the usual moaning. The rises, especially sustained generally occur when most people least expect it, yes, out of the blue. We know what we have now, and the pretty much confirmed massive Telfer growth potential, let alone Havieron. Yes, I totally appreciate that some people always, and understandably, for their own investment window, want a quick even bigger return, but I've learnt to just have patience, if you can, with GGP. Rant over!

An interesting one....Thanks to Stuart Hinds

Aran Zalewski

3 x Olympian | Deloitte Human Capital Consultant

High-performing teams don’t happen by mistake.

They are by design.

I saw that play out last week with a team from Greatland when we explored the connection between individual, the team, and the vision, and what it really takes to bring high performance to life.

The team then started to co-design their own high-performing team norms, shared ideas about how they show up, work together, and live their best performance every day.

High performance sounds hard, but it’s within reach, and it’s so worth it.

https://www.linkedin.com/posts/aran-zalewski_high-performing-teams-dont-happen-by-mistake-activity-7388031024921788416-8f4d?utm_source=share&utm_medium=member_ios&rcm=ACoAAAxE6B4BDheYtlnWjOcCoWNWoibz6hQZy7I

It's interesting to see the, relatively slow, but steady increasing acceptance from the financial industry that gold should be a larger part of portfolios, especially in the retail market. Retail investors are now viewing gold as a new tool to hedge stocks risks, and slowly, but surely, gradually replacing the traditional role of long-term bonds. Personally, I've pretty much dumped bonds myself, and I'm in my later years.

JP Morgan, and I accept that it may be in part favourable ramping for them, as well as other institutions, have suggested that global non-bank private investors increase their allocation of gold from the current average 2.6% to 4.6%.

Can you imagine what would happen to the gold price if this happened, even in part?!

Well, they indicate that, by 2028, the price of gold may need to rise 110% from current levels to meet such demand.

OK, this is largely crystal ball gazing, but it certainly appears that PI's, and their advisers, are moving that way now. TT

Gold’s remarkable rally this year – up more than 50% – has forced even the most sceptical traders to reassess the metal’s role in global markets.

In a new report, JP Morgan argues that the rise is not a temporary spike, but part of a long-term structural shift. The bank has raised its long-term gold price forecast by almost 80% to $3,850 per ounce, suggesting that investors are seeking assets more resilient than government-backed currencies amid shifting monetary conditions.

The investment bank says a new monetary “paradigm” is taking hold, in which confidence in fiat currencies is weakening and gold’s appeal as a store of value and a hedge against systemic risk is strengthening.

Gold hit an all-time high of $4,381.21 per ounce on Monday, more than 60% higher than at the start of the year, before retreating.

It is currently trading around $4,113.48 per ounce, after a sharp pullback earlier this week.

The record inflows underline the continued appeal of gold as:

- A hedge against inflation

- A buffer against geopolitical risk

- A defensive asset amid uncertainty in equities and bonds

Despite the recent price dip, investor appetite for gold remains exceptionally strong, with analysts suggesting that the metal is likely to stay well-supported so long as interest rate expectations soften and macro risks remain elevated.

https://www.share-talk.com/golds-50-surge-marks-shift-in-market-thinking-says-jp-morgan/

As I mentioned the other day. as Heddle often said, "The markets don't get it" Yet!

"The view remains that Darlot represents a tenement package that has inherent potential for future discovery and mine development. However, this will be realised by ongoing exploration utilising a multi-disciplined and integrated approach to targeting that leverages off the current work and prospectivity mapping and is supported by a multi-year investment."

"Future exploration will focus within and immediately around the Darlot mine area. The objective is to define and bring into production additional high-grade ore sources from the CDA area."

"As the operation is mine constrained, the potential for toll treating continues to be reviewed when opportunities arise."

Greatland Resources are not specifically mentioned. It's more about gold funds, but we're held in most, if not all of the one's mentioned anyway.....

"Gold has risen more than 60% this year to over $4,300 per ounce. In doing so, it has transformed the outlook for the gold-mining industry after years plagued by post-pandemic supply chain snarl-ups, a lack of labour and the 2022 energy crisis.

Last quarter, gold producers generated roughly 50% more free cash flow than consensus estimates, notes Jim Luke, who runs Schroders ISF Global Gold among other funds. Importantly for investors, most companies are not rushing to spend this windfall.

Miners are still running their businesses using “conservative gold price assumptions” of around $2,500 to $2,800 per ounce, and letting cash build up on their balance sheets. In the first quarter of 2025, the sector moved from a net debt to a net cash position for the first time in more than 20 years.

GOLD MINERS ARE DEEPLY UNDERVALUED

As a result, gold miners now look deeply undervalued. Across the mining sector, the price/earnings (p/e) ratio has halved over the past decade, while the gold price has more than doubled, note Keith Watson and Robert Crayfourd, managers of the Golden Prospect Precious Metals (LSE: GPM) and CQS Natural Resources Growth and Income (LSE: CYN) investment trusts. “While there has been some recent performance, it’s not fully reflective of the current spot price, and that creates the opportunity.”.....

https://moneyweek.com/investments/gold/how-to-invest-in-undervalued-gold-miners

BlackRock Smaller Companies Trust Plc

Half yearly financial announcement of results in respect of the six months ended 31 August 2025

"A simple look at the stocks that have contributed most to index returns highlights three main drivers; the resurgence of commodities (Ithaca Energy, Greatland Resources, Pan African Resources, Rockhoppper), the continued importance of mergers and acquisitions (“M&A”) (Alpha Group, Alphawave, Just Group, Bakkavor), and the dominance of “value” companies (TBC Bank, Serco, OSB, International Workplace Group, MITIE). Whilst the last twelve months are an extreme example, the same phenomenon has impacted returns since 2021."

https://markets.ft.com/data/announce/detail?dockey=600-202510240632PR_NEWS_PRUKDSCL_0069-1

https://www.blackrock.com/uk/literature/interim-report/blackrock-smaller-companies-trust-plc-interim-report.pdf

Https://www.share-talk.com/cloudbreak-discovery-lon-cdl-jumps-22-on-high-grade-65-g-t-gold-hit-at-darlot-west/

https://x.com/Share_Talk/status/1981655884234109126

Gold funds received their largest weekly inflow on record in the week to Wednesday, according to the latest data from Bank of America (BofA) Global Research.

Bullion prices hit a record high of $4,381.21 per ounce on Monday, more than 60% higher than at the start of this year before paring back, and gold funds saw inflows of $8.7bn in the week, according to BofA. This puts the inflows over the last four months at $50bn.

Gold is trading around $4,070 per ounce, down 1.8% on the day, but analysts have said despite the short-term correction, structural demand from central banks, de-dollarisation and ongoing geopolitical uncertainty will continue to push gold higher.

Russell Shor, senior market analyst at Tradu, said: "Gold's rally shows no signs of exhaustion, supported by structural demand from central banks and ongoing geopolitical uncertainty. Even if short-term corrections emerge, the broader trend remains firmly upward, underpinned by strong fundamentals."

"As de-dollarisation accelerates and global risks persist, investors are likely to continue viewing gold (GC=F) as both a hedge and a strategic asset."

"With official sector buying anchoring the market, any pullbacks may offer renewed opportunity. For now, the path of least resistance for gold (GC=F) still points higher."

https://uk.finance.yahoo.com/news/gold-prices-oil-pound-dollar-100619182.html