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Because we are fully funded to production means one of two things:
NCM can't out manouvre GGP wrt holding us to ransom regarding production. With the exception of a black swan event, GGP will start making millions each year, every year from 2024 onwards. OR
Someone will now need to raise the ante if they wish to buy GGP out.

For many on here, that is very good news. Of course that statement is quantified by how much you paid for your shares and how much they will rise over the coming months/years.

The cost to us 'now' though will be more, if we wish to stay onboard for the journey.
There were 4.5Bn shares on offer before Wyloo and the new directors arrived , there will be just shy of 5.3Bn shares after the deals are done. A dilution to our holdings of 20% approx.
No pain.......no gain as they say.

[Meanwhile, "Twiggy" will make approx £7m for every penny rise in the SP].

Z

LoggyLogbot posted a link to a news report on Wyloo this morning. Unfortunately it was for subsscribers only. I hope he won't mind me copying it here because it adds to the mix - especially the end of the post!
Billionaire Andrew Forrest has inserted himself into another potential takeover stoush by becoming the biggest shareholder in the explorer that is being closely watched by Australia’s biggest gold miner Newcrest Mining.
Dr Forrest’s private company Wyloo Metals has agreed to spend $60 million buying 8.6 per cent of London-listed Greatland Gold.. The Wyloo investment was the highlight of a $340 million injection of funds for Greatland. Newcrest has spent $US65 million ($94.4 million) over the past four years acquiring 70% of the project under a plan to process it through Telfer.
Greatland has other prospective targets in the region around Telfer, making it a logical acquisition target for Newcrest. The takeover tensions were on show in August when Newcrest declined to exercise an option to pay $US60 million for a further 5% of Havieron.
Newcrest could easily afford the extra 5 per cent, but the $US60 million price tag was set by an independent valuer and loomed as a major price discovery event for Greatland had Newcrest agreed to pay it. Wyloo agreed to pay 8.2 pence for each Greatland share.
Greatland shareholders will need to give approval for the investment to go ahead.
Wyloo’s spend on Greatland may yet rise to $120 million with the option to buy more shares for 10 pence each if certain milestones are achieved.
The Wyloo investment coincided with Greatland securing a $220 million loan from ANZ, ING and HSBC on a 7 year term.
Construction of Havieron was expected to cost $529 million, with Newcrest liable for 70% and Greatland responsible for 30%.
Greatland chief Shaun Day said the cumulative $340 million funds injection had removed any risk that Greatland would struggle to fund its share of construction costs. This will enable Greatland to be fully funded for its share of costs in developing the Havieron project into first production and potential free cash flow,” he said.
Wyloo chief Luca Giacovazzi said Havieron was one of the most exciting discoveries in the Paterson province and Wyloo was also keen to get exposure to Greatland’s other targets in the region. Wyloo’s likely emergence as the biggest shareholder in Greatland is unlikely to be welcomed by Newcrest, given Wyloo has a habit of complicating big miners’ attempts to acquire juniors.
Wyloo’s strong bidding for Canadian nickel explorer Noront last year eventually convinced BHP to give up its long pursuit of the junior.
Z

And we're in September already! What's coming up:

08/09/22. GGP 6 weekly update.
09/22. GDXJ rebalance.
13/10/22. GGP 6 weekly update?
10/22. Byrnecut contract for first decline terminates.
26/10/22. NCM quarterly results. [BST].

No shortage of news then. Hopefully some serious assays next week followed by SD's ritual follow up webcast with Proactive.

I joined in May 2019 and I believe I am half way along my journey to production. A staggering feat by NCM/GGP. I suspect most posters are now comfortable with the fact that a mine being built this fast (first sod to first ore) in 6 years is a massive achievement.
Of course the SLOS is only the beginning, isn't it? SD let slip a certain number for the volume of gold, Callum has backed this up in person with Bamps and only recently with Liam he (being the master of understatement) quoted 10Moz imminently.
For the mine to offer up these figures, as Callum stated, requires drilling from within the mine to probe south of 2000m. It is not cost effective to do this from the surface and is also time consuming. So Hav will be a work in progress and I for one would like to see it start off in 2024 with an ore reserve of around 5Moz (8-10MozAuEq) and progress from there over the years. For those who can wait, the future will continue to provide, well into the 2030's.
Early mining @ 10000oz/m should see a dramatic drop in the AISC, which already is world beating @ $643/oz. Might we see a negative aisc in 2024!!

Could we see the elusive BFS - 12 weeks from now or sooner? I am relying on this to clear the decks, put all conjecture behind us and formulate a mining plan that will see GGP generate serious income shortly thereafter.
For the first time today, I actually thought there 'might', just 'might' be mileage in a genuine JVA between NCM and GGP @ Hav. But I still remain in the camp where NCM will make a bid for the whole shebang.
Congrats to all those who have held their nerve, especially now. No pain.................no gain.

TGIF.
Z

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