Member Info for TimberTrader

I assume you mean GGP shares, and it's a cross-listing. That aside, no you don't need to do anything. Your shares will be consolidated 20:1 and transferred automatically to Greatland Resources. The tickerremains the same, GGP.

Https://pubs.geoscienceworld.org/segdiscovery/issue/current

An interesting read for anyone who has absolutely nothing better to do with their time!

Basically, the research concludes, as many knew already, that there is nowhere near enough copper production to meet future demand. It goes on to say that the copper price would need to double to make it viable for new mines to be set up to mine copper. At Havieron we're looking at around 20% copper production coming on stream in FY28, on top of the copper production already at Telfer, in addition to the massive stockpiles that we already have on the ground.

"A noncarbon transition that involves a large contribution from wind and solar electricity generation will require a quantity of copper that is impossible for

mine production to meet. This copper demand resides almost entirely in managing power variability. The copper needed for battery storage to manage

power variability is enormous, and the copper required for managing the variability with a regional network seems to be equally large...."

"Increasing the rate of mining will require an increase in copper price. Copper capital intensity is a metric for estimating the price increase needed to develop new copper mines. It is the simplest economic measure for deciding whether or not to develop a mine and is universally understood within the mining industry....These copper capital intensities suggest that the future copper price must exceed $20,000 per tonne for signifiant new mines to be economically viable and worth putting into production. Given the current copper price of about $9,251 per tonne, this forecasts at least a doubling of copper price will be needed.."

https://watermark.silverchair.com/segn-141-1.pdf?token=AQECAHi208BE49Ooan9kkhW_Ercy7Dm3ZL_9Cf3qfKAc485ysgAAA0kwggNFBgkqhkiG9w0BBwagggM2MIIDMgIBADCCAysGCSqGSIb3DQEHATAeBglghkgBZQMEAS4wEQQMe5z6CDMYavIpUCXTAgEQgIIC_MBSOz3DpjzBVWB2KxdDi9aOVzSPj4t5unXueXEB9rSVmkjImeEymcg1DFr71f0mOsaOhIPfi8hcDCMk_kvnXPEVG0uqyBVHp_5_wDhJz_3uaG6zA4bvaA_hHjI_HUB7ZHMX9EhXDsYv1SxYr34aCz14bhMEyspX_k_xuOssPRx4jadsLuS-JXxhjvwBO7oxap4GmKLjUOM0HuiQ4lILeBhivvCgx8d-a3enGdozp6LE7SmvUqZS9-Rq0OGQthdwigaNTrk8uKj9Nv_CEob6E9AFAA5Bvnnz3jAg9YJgew0TzmYG-HpPPbk_R5wNZ2sbIr8uXT0Aw66OgtLcBFXYHNG8F0L5W-0iULUkUEnUgg3IvdnrfZJA1_lYgvCqMzasqWZvslssM8OsjFkVBEMMBwO2iJlajZfF7_VPl1_7XmLmCoSPMPlLuy-kNJFxqORkAMJeYMyvQ4NxV6bam7GV5h3xQUHGdZGSrXsBgPIjWeNoEXrVieyBNwWCXCWwprPsMRI-KhFp1FcGRADeUiqAK5c3GrwF-aAwH-dF-Cme9Npag2bH1oEa6e_br7bn3v1t1MZta511LNPupRqv6kx2aQxcy1O3ipkUOyp2GzPS49FyukAgP5g_ShH8Cc6qL2yZUKfXvvGydR3wWRdBldXAgM1UdIB-iZ8aPSsFi7BbTxaEN79meaV8SsHK1ZX2J3DbsoPHEFmHoPN83R_0E284I0nPqrcGEhmGkovqy-XbpkzgHdC2yioiJJ0c4lk_0sI6CmuQ01D9CNneFCaSRWVbWxHAbQmaKAfNueZpNE4srl22W-Z_BPq8aqCkLsdHvJsosRMqw3BmrmREqiNI6lr7ew2M45aRb5ldXmCtl8Na4Y5BnhTnimbIq_4zbMw6veozsmSvX_MVYo7z-lOsLejPRPE9j_YXYseKfjwTqXLR8vovnmg7D7EyI0E_fH7ZVCVMcYsP9Jq2ABnZVc0em-UIQw5FcatgblTLLLDD994Evm0tBcT1RUg4TtxpuR54

Also, don't forget that post ASX listing it's believed by many, including Charles Archer's source, that the GDXJ will be required to redress the imbalance that they currently have in their GGP shareholding.

It’s initial public offering time of year and, for a change, there’s a bit to write about.

After a few dull years, airline Virgin Australia, over-50s resort builder GemLife and gold miner Greatland Gold and their bankers are all out rustling up fund manager interest this week in what we’d say was the busiest week for Australian IPOs and IPO roadshows in the past four years....(Sub)

https://www.afr.com/chanticleer/ipo-window-definitely-open-says-ceo-who-secured-a-250m-listing-20250602-p5m46z

The UK offer is for a maximum of EUR 8 million equivalent, so around GBP 6.7 million, approx. 47 million shares at todays price (pre-consolidation). It's a tiny amount in relative terms, so I'd expect oversubscription. I'm so overbought in GGP, in various S&S ISA's, that any financial adviser would throw their arms up in despair, so I won't be taking part. If I did want any shares I'd be buying them on the open market now, as it's clearly a risk not knowing what the price will be, but also if you'd get any at all. Just my personal view. DYOR

Https://www.proactiveinvestors.co.uk/companies/news/1072209/greatland-resources-to-launch-retail-share-offer-in-uk-1072209.html

Thanks Bamps, and, as you know, the main point I'm trying to make, and which Shaun Day, and you know too, is that it's very manageable. It's absolutely normal in Australian mining, and has been handled for decades before, and will be for decades in future too.

Hi Bamps, Shaun Day also commented on this at the town hall webinar a few weeks ago. It appears that the disrupters have pretty much lost everything to de-ramp on now, but love to come back to the aquifers, as they believe it's something that most people are not researched about, and they can score points on:

"There are three confined aquifers there (Havieron). We've been through the upper confined aquifer and the middle confined aquifer, and coming up to the lower confined aquifer, when we restart. I don't think the aquifers are technically challenging for us. It's a well trodden path in Australian underground mining, where you drill, you de-pressure, you put in bores, de-waterise, and move through the aquifer, which is just porous rock where some water can flow, and we've established the pumping to maintain that .

Overall, Havieron is a relatively dry mine. It's very manageable. It's a much drier mine than Telfer so we don't see that as a challenge."

Hi Summit, they weren't actually missed out. they were always shown under Section 10, but they've now also been mentioned in the Chairman's Letter, for increased market transparency.

From what I can see, looking at the two prospectuses, is that the only difference between the original and replacement is a requirement for the 'Chairman's Letter' to point out more clearly the risk factors, which are already shown under Section 10. These are of course absolutely normal for any company listing prospectus.

Replacement Prospectus here:

https://www.greatland.com.au/investors/2025-reorganisation-and-asx-listing/greatland-resources-limited/

Basically what we have in the UK under a company Memorandum of Association and Articles of Association.

I hadn't seen this before, unless I missed it. It's now up on the GRL website.

In Australia, a company constitution is a legal document that outlines the internal rules and governance of a company. It's essentially a contract between the company and its members, directors, and sometimes, the company secretary. This constitution sets out the rights, roles, and responsibilities of these parties, defining how the company will be managed and operated.

https://www.greatland.com.au/wp-content/uploads/2025/05/GRL-Constitution.pdf

Moving up further in US trading, now up over 2% at USD 3,330 & AUD 5,165.

It's a public portal in relation to the Australian Government Environment Protection and Biodiversity Conservation Act...

https://epbcpublicportal.environment.gov.au/all-notices/project-decision/?id=b29554e0-b091-ef11-8a69-0022481295e6

With thanks to Paddy, posting on 'X' earlier today:

Havieron Project Status has recently changed from "Considering Variation to Proposal" to "Assessment Commenced"

Hopefully start to see some movement on evaporation ponds and vent shafts once approved.

https://x.com/paddygall1/status/1928044466239140335

https://pbs.twimg.com/media/GsHJlSPXwAAV0kn?format=jpg&name=large

As discussed with Shaun Day at the recent Town Hall webinar:

SD: "There are three confined aquifers there (Havieron). We've been through the upper confined aquifer and the middle confined aquifer, and coming up to the lower confined aquifer, when we restart. I don't think the aquifers are technically challenging for us. It's a well trodden path in Australian underground mining, where you drill, you de-pressure, you put in bores, de-waterise, and move through the aquifer, which is just porous rock where some water can flow, and we've established the pumping to maintain that .

Overall, Havieron is a relatively dry mine. It's very manageable. It's a much drier mine than Telfer so we don't see that as a challenge."

Unsurprisingly, a very short term blip in the gold price, now back up 1.2% today to USD 3,300 and up 0.9% in AUD terms at AUD 5,120.

You can find details about when revenue is recognised in the company reports:

"Revenue from the sale of goods is recognised when the Group satisfies its performance obligations under its contract with the customer, by transferring such goods to the customer's control. Control is generally determined to be when risk and title to the goods pass to the customer.

Bullion revenue is recognised at a point in time upon transfer of control to the customer and is measured at the amount to which the Group expects to be entitled which is based on the deal agreement.

Concentrate revenue is generally recognised upon receipt of the bill of lading when the goods are delivered for shipment under Cost, Insurance and Freight (CIF) Incoterms. The freight service on export concentrate contracts with CIF Incoterms represents a separate performance obligation to the transfer of the concentrate product itself and is separately disclosed where material."