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Geologists eh? Bit like accountants.....erudite and restrained, to say the least. It must be very difficult to remain calm with results like this, when all you want to do is shout from the rooftops.

The Deeps:
currently 250m deeper. I make that 50+m tonnes extra at a very very very conservative 2gm/t. There's 3MozAu to start with.
E Breccia:
600m strike at exceptional grades for breccia. Gotta be the makings of a Tier2 maybe even a tier 1 eventually. Shaun: you have twins!

Not sure how much of this reporting will make it into the MRE2 next month but it's going to make for exceptional reading. I tend to understand now why all the Brokers are hovering around the 10+MozAu and I'm thinking 3+Moz will end up as 'ore reserve'. (Compared to the PFS resource of 1.6Moz ore reserve.
These results will fuel all the MRE's going forward. The DFS will be a mega result.
The 5% valuation just got serious. Still banking on a starting point of £175m but discussions over the inclusion of future finds is going to get heated.

In summary: By the end of March, GGP will have paid off all their debts (to date), will have paid for ALL of the capex for the starter mine, will have atleast £100m in the bank, can drill regionally to their hearts content and will still own 25% of what could be 2 x Tier 1's?
WTF?
If this isn't a fillip for all those in doubt....nothing is.

Z

Jambo - agreed...so much to look fwd to, starting this Thursday:

Havieron PFS and beyond:
https://greatlandgold.com/wp-content/uploads/2021/10/GGP-Growth-Update-Final.pdf

The PFS covered only 14Mt of the resource identified in the MMRE (Inferred) (10.12.20).
28% of this MMRE is now uplifted from inferred to MRE indicated.
1.9Moz (Indicated). 1.7Moz (Inferred). 1.6Moz (Ore Reserve): 2MozAuEq. in total.
This equates to 1.7% of the whole of the SE Crescent / N Breccia.

In Q1/22 (page 25 from above link) a MRE2 (inferred) will be published. This will update the remaining 53Mt of the original MMRE with additional infilling and growth drilling figures.
More of the inferred will be uplifted to indicated.
The best grades have been offered up for publication (MRE (indicated)) for obvious reasons (4.58g/t). A lot of the remaining 53Mt is estimated to come in at an average of 2.0g/t.

We are only talking about the current SE crescent/N Breccia volume as defined by the MMRE because this is all that NCM have been able to drill and explore to date (Feb 2021). The PFS has identified a change is required from the original mining plan for SLC (sub level caving)...to a SLOS (Sub Level Open Stoping) method. Construction costs have increased by nearly 250% consequently. Broker notes reflect this, and together with a marginal increase in resource @ PFS, have adjusted the SP from 33p to 25p.

Stage 1: (starter mine) is all about the SLOS. 2Mt/yr for 9 years. Decline and vent shafts commence.
Stage 2: Continue drilling to increase the maiden resource. Publish a MRE2 (inferred) for SE Crescent (Q1/22) to reflect additional drilling. Ramp up SLOS output to 3Mt/yr over 11 years. Complete the DFS (Q4/22).
Stage 3: MMRE (inferred) for Eastern Breccia. Additional MRE (inferred) for N Breccia.
Update MRE (indicated) for SE Crescent. Decline completes.
Stage 4: [2023/24] mine the SE Crescent. MRE (indicated) N Breccia. MRE2(inferred) E Breccia.

I make that 6 x MRE's between now and December, culminating in the biggy: DFS/FS/BFS, call it what you like. I won't be putting all the MRE's into the road map simply because I have no clues as to when they will be published!the

I'm hoping 2022 is going to be everything 2021 wasn't!

Z

In relation to your 1956 post, I will do my best to answer your questions and then move on too.
I haven't changed my spots, I still expect more from GGP, much more, as do most of us.

1st Q: "...Where does it state 1.7% of the motherlode, I've been over the RNS's and cant find the 1.7% figure..."
A: The PFS covered only 14Mt of the resource identified in the MMRE (Inferred) (10.12.20). 28% of this MMRE is now uplifted from inferred to MRE indicated. 1.9Moz (Indicated). 1.7Moz (Inferred). 1.6Moz (Ore Reserve): 2MozAuEq. in total. This equates to 1.7% of the whole of the SE Crescent / N Breccia. (At the time the resource was estimated to be around 900Mt).
2ndQ: "£600m NPV is a massive figure for where we are today and I am very grateful it has remained thus for so long." Please explain this part..."
A: Initially my maths indicated 9p/share (see below), so I expected around £380m NPV at the time. Now we are at £600m I am happy because it reflects the upper end of my SP range. Also after our long awaited PFS (which didn't really push us into bigger figures compared to the MMRE (3.4moz)), we in fact only managed to 'firm up' 1.6Moz ore reserve and it is this figure which is reflected in the bottom line, so I am grateful the NPV has stayed around £600 (ish).
[See the canaccord review link below].
3rdQ: "...how do you come to the figures of 9p/15p,..."
A: All based on the MMRE: 3.4MozAuEq / 90% recovery rate / $1400US (PoG) / 0.73 conversion (US to GBP) / $700 / aisc: $900 / GGP 30%. This = 9p/share. I changed the aisc's and PoG at the time to look for the best results and eventually over the months I managed to improve on this as the aisc/Pog changed (thank god) to 15p. I was reluctant to mention the lower end of the scale (9p) at the time on this board for fear of reprisals (as has happened today).
All of the above were based on the MMRE. In terms of resource, we haven't really ramped up the volume (dissappoiningly) in the PFS except to qualify the ore reserve. Canaccord (below link) reflects this.
I expect the MRE2 to achieve well above this 3.4 figure.

https://twitter.com/Dannika__/status/1447827742309769220

I hope this goes part way to answering your valid questions.

I was going to answer Bamps post...but it's late now, I'll try next time I am on maybe, or speak to him via a PM.
Best
Z

Let me lay my cards on the table, once and for all....

My raison d'etre, here on this forum is two fold..…
1) to learn as much as possible about GGP, to ensure the investment I made in May '19 is safeguarded. When GGP hits the motherlode, my journey will be over and my target achieved. [Or if NCM successfullybids for GGP’s remaining 25%].
2) To disseminate the plethora of sophisticated and technical data both on and off the bb and translate it so that the majority of us middle of the road investors can stay abreast of what is happening so that they too can understand and complete their own dd.
Sometimes news travels fast and leaves the quiet ones behind. We need to capture as many investors as possible, so that they too can enjoy the journey too.
My roadmap changes when data changes. It is not set in breccia! It is my best attempt to decipher what is out there and present it in such a way that a newcomer/latecomer can 'catch up', so to speak.
I shall continue to contribute until either the majority tell me to stop, or this bb turns sour.
Thanks to all constructive posters....you make it all worthwhile.

This is what I believe: [I bought in @ 1.5p in May 2019].
GGP's only formal declaration of what they have (ie: what the market believes): 1.6Moz ore reserve/3.4MozAuEq. 1.7% of motherlode only declared to date.
Based on number of shares on issue / % of mine owned by GGP to date:
SP should sit in the range 9p to 15p. I can't pin it down any better ...too many variables (one being sentiment). I am over the moon that we are were we are currently as it is the top end of my calcs. £600m NPV is a massive figure for where we are today and I am very grateful it has remained thus for so long.
I expected 30+p @ PFS. This was downgraded to 24p by all the brokers because of the almost tripling of the cost of the SLC to a SLOS.
I am expecting the MRE2 to produce a minimum of 10Moz with around 3 to 4MozAu (indicated), 7Moz ish (inferred). I am expecting the SP to rise to 25p to reflect this (eventually).
I am expecting further gentle rises on good news from each successive MRE, up to the DFS.
IF and it is a massive IF, NCM allows GGP to partner them into the B.U.M. I expect the SP to creep up to 60p+ by the time we start producing gold/Copper. That is my fundamental calculation.
Bonuses en route:
Cash in hand for the 5% valuation bonus.
Excellent Term sheets.
A bid by year end.

I must keep reminding myself that there are zillions and zillions of shares out there and the OFFICIAL (not anticipated) resource is small currently. Yes I KNOW it will get bigger and the SP will rise......but to date it hasn't and therefore won't.
I am trying very very hard to remain realistic about this share but it is like whispering into a hurricane sometimes with the relentless ramping that goes on 24/7 with this BB.

I am pro GGP, pro Hav, but people must allow common sense to enter the equation from time to time, surely?

Best wishes to all.

Sam, good afternoon.
Your post@1116:

"..So, short manipulation does exist re GGP; and has been used to depress the SP for the last year while one marvelous set of drill result after another has been released. Now we are told that it doesn't matter anyway because the final outcome for long term holders will be fine. I am a long term holder so I have and will be fine. BUT, what about those who have needed to liquidate funds for personal finance reasons. They have been ROYALLY SHAFTED by the shorters. It should be banned even though it 'creates a buying opportunity ' for the 'I'm all right jack' brigade..."

I guess, reading from your post, you are blaming shorters for the downfall or rather - supression of the SP? If shorting didn't exist @ GGP, where might you expect the SP to be today then?
(a) ALL of the gold is still in the ground. (b) GGP have declared 1.6Moz Au(ore reserve).
(c) GGP have 4,200,000,000 shares on their books.
Where exactly would you like the share price to be so that "latecomers" or those who wish to liquidate their stock now for private reasons....can pocket a profit?
Have you actually worked out how much GGP is currently worth? Why the market values all the other junior miners with this arrangement at similar (relative) share price values?
Let's try a mini experiment:
Let's pretend there is NO SHORTING (based only on the fact that you think this has held or driven the SP down to low levels):
25p per share. This makes GGP worth £1.05Bn. Hav worth £3.5Bn
How about 50p by now after the annus horriblis of 2021: GGP: £2.1Bn. Hav: £7Bn.
No gold recovered, 1.6Moz ore reserve, the rest inferred (ie: we think it's down there).
Staying with that calculation, are you expecting double or even treble this valuation if the MRE2 unearths: 4MozAu reserve? GGP: £6bn, Hav worth £21Bn.???
Please, please...all of you who really don't fully understand why we are where we are.....DYOR!
GGP is worth a MAXIMUM of 15p ALL DAY LONG with their current finding.
A thousand assays and 50/50 fabtastic RNS's won't raise it 1p until and unless it is corroborated by independent authorities via a JORC / MRE / PFS / FS.
3.2MozAu / 4.4MozAuEq / 1.6Moz(ore reserve) = a maximum of 15p and that is being generous.

People forget that the GGP share issue would provide 1 share for over 2/3ds of the entire population of the world!! Its SP simply cannot keep growing to satisfy the greedy needs of some punters owning stock who are ignorant of why the SP isn't flying all the time.
32 recommends for your post (last count).......that is quite alarming and goes to show the level of understanding here (or lack of it).
C'mon guys DYOR I beg of you. Prepare for what to expect of an emerging junior miner over the coming months or we'll be having this argument a year from now because the SP is only 40p for example.
Z

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