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(GGP) Greatland Gold Share Chat

Discussion in 'General Share Chat (GGP)' started by Makaira88, Apr 3, 2016.

  1. BigP

    BigP Keeping the Faith

    5 May 2022
    Greatland Gold plc
    ("Greatland" or "the Company")

    Greatland Sustainability Report

    Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, is pleased to announce that it has today published its first Sustainability Report, a dedicated report outlining Greatland's approach to environmental, social and governance matters.

    Greatland's core values of integrity, safety, teamwork, accountability and responsibility are at the heart of its sustainable operating culture to create positive generational benefits through responsible environmental, social, cultural and economic behaviours.

    Shaun Day, Managing Director of Greatland Gold plc, commented: "We are delighted to release Greatland's inaugural Sustainability Report, a current state assessment of material items related to Environmental, Social and Governance matters enabling our business operations to enhance our sustainability footprint. We aspire to be a modern and sustainable resource company with responsible behaviours and environmental stewardship which are crucial for delivering long term success.This report is an important and natural step as Greatland evolves from an explorer to developer and to becoming a multi-commodity producer."

    The report is available on the Company's website.

  2. BigP

    BigP Keeping the Faith

  3. BigP

    BigP Keeping the Faith

    10 May 2022


    Greatland Gold plc
    ("Greatland" or "the Company")

    Greatland awarded a drilling grant for Paterson province exploration project

    Greatland receives a grant of up to A$200,000 (£115,000)

    under the Western Australian Government's Exploration Incentive Scheme

    Grant to be used to co-fund exploration at Greatland's 100% owned Rudall licence,

    located 20km southeast of the Havieron gold-copper resource

    Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, is pleased to announce it has been awarded a grant from the Western Australian Government to co-fund exploration drilling and mobilisation costs at its 100% owned Rudall licence in the Paterson province.

    The grant awarded is the result of a successful application under the Exploration Incentive Scheme ("EIS"). Greatland is eligible to receive a grant up to A$200,000 (£115,000) to co-fund drilling and mobilisation costs, within 12 months of the grant.

    Shaun Day, Managing Director of Greatland Gold plc, commented: "The drilling grant for the Rudall licence will accelerate our programme to test targets in this area of the Paterson. Testing of priority targets delivers the opportunity to unlock the exploration option value of the portfolio."

    About Rudall

    The Rudall licence covers an area of approximately 65 square kilometres approximately 20km south-southeast of Greatland's Havieron gold-copper resource. The licence is considered to be prospective for Havieron and Telfer style gold/copper occurrences.

    Greatland has completed geophysical modelling to enhance preliminary targets identified at the Rudall licence, including the Ramses magnetic anomaly. The modelling suggests the depth to top of the magnetic anomaly is approximately 700m below surface.

    Further geophysical survey work is being planned this year to refine the Ramses anomaly before an exploration drill program is undertaken, utilising the EIS grant to co-fund the drilling component of the 2022 exploration work programme.

    Additional information on the project can be found on the Company's website at


    In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc/

    About the Exploration Incentive Scheme

    The Co-funded Government and Industry Drilling Program is being funded by the Western Australian State Government, to provide a stimulus to geoscience exploration and contribute to the economic development of regional areas of Western Australia. Geoscience exploration includes mineral, oil and gas, and geothermal exploration with drilling to be undertaken in underexplored areas. The program is administered by the Western Australian Department of Mines, Industry Regulation and Safety.
  4. BigP

    BigP Keeping the Faith

    Last edited: May 10, 2022
  5. BigP

    BigP Keeping the Faith

    RE: Notes from The Sunday Roast Podcast - 10 May 2022
    * An overview of where GGP is at?
    - As in previous discussions I’ve referred repeatedly to a ‘transition process’, I’ve come into what was a really successful exploration company and we should celebrate the discover of Hav and important to talk about Callum and the rest of the team that gave shareholders this platform
    - Now really tried to shift gear and there are some transition issues through that JV agreement such as the 5% Option agreement with NCM
    - GGP wants to maximise that value and you could argue that NCM wants to buy that at a lower price and to be honest I’ll be glad when we get past that and have better structural alignment with NCM because you don’t ever want a JV where there is a win/loss scenario
    - Fundamentally we’ve come into that where NCM have wanted to try and transact around that PFS proposal and GGP have gone out and done its own Resource and Reserve and I think that the quality of that work by the team is a credit to them
    - Really justified the investment we’ve made in people to give us that capacity, not just in geology but in resource geology, mining, processing and corporate capacity and think that’s made us better owners of Hav and better able to articulate and justify its value in a process
    - Like to think that through that we’ve shifted the paradigm value because the valuation date of that 5% is the 15/12/21 which is really just two months after the PFS, so in a very short amount of time I like to think that we’ve added a lot of value
    - Now, time will tell as there’s an independent expert we expect to be appointed shortly but I think we’ll deal with that and show this compounding average growth rate for this asset which I think is going to be quite spectacular
    - Albeit off the low base that the PFS set and that GGP set at the transaction that it sold 70% on, but I think what that will show you is how quickly we’re adding value to Hav, you can do that because it’s world class and it will show you what Hav will be in the next 12 months, it will give you a very good indication of where we are going
    - And I think that is finally why I am excited to get through this transition and be fully funded as I think that is a huge catalyst in terms of people having confidence we can now maintain our share of the project and take it through to production
    - And during all this time we have the advantage of leveraging existing infrastructure and already because we’ve brought in the strength of NCM, we’re already starting the decline
    - Every week and month that goes by, we’re that much closer to the commencement of mining, to the commencement of cashflow
    And normally to think this was discovered in mid 2018 and we literally expect to be in production in about 18 months’ time from now is extraordinary, this is all testament to the quality of Hav and if NCM does exercise its 5%, and regrettably I really think they will because I’d love to hold more of it but regrettably let’s assume NCM are going to exercise their 5% it’s testament to the fact that Hav belongs in the portfolio of a major
    - And what are major’s looking for, lowest CAPEX, multi decade large volume assets and I think that’s the opportunity at Hav and it’s becoming more and more apparent as we move through the cycle
    - You know, it’s good fun when you get to sell a Havieron, you don’t get too many in your career, it’s a good fun asset to talk about.

    * Whatever price this 5% settles at, what’s the right words….it’s going to be business changing for GGP so you can quibble over the amount but the reality is it’s going to change the face of the company in terms of being able to fund things, being able to do all the things required to bring Hav into production. So, it’s not a bad thing no matter what happens, so yes be nicer to keep 30% but pretty sure that’s not going to happen and I think you are as well. What timescale do you expect this will all be sorted at?
    - No definitive timeframe in the JV agreement, having said that the relationship is good and strong and engaging between NCM and GGP
    - When you have that kind of relationship, these kind of matters can be progressed quicker, doesn’t mean that GGP isn’t fighting very hard in its corner to get a great outcome and doesn’t mean NCM isn’t doing exactly the same to us
    - We respect that and understand their obligations to their shareholders just as ours are to our own but I think that I’d like to finish this transition period and get past the distractions of the 5%, get the bank funding in, be past that distraction and have this platform where we just focus about the movement to free cash flow, the organic growth of the asset and the potential augmentation from exploration success on a Rudall, on a Scallywag and the big option value in the portfolio to try and tag another Havieron and we’re in the right postcode to do that
    - Maybe the last thing I’d talk too, shareholders should have confidence that we continue to look at adding prospective tenements or exploration licenses in that postcode
    - I think we’re seen as a technically strong team which means significant companies in that postcode are willing to talk to us about working with us which again is a credit to us and a lovely insight that within the sector our team has established its credentials as a capable and confident operator and technically strong
    - And the other one is the third pillar to our growth strategy, deliver Havieron, continue to try to unlock the option value in the exploration portfolio and also contemplate inorganic opportunities to grow, financially disciplined ways to add another leg to the stool
    - And if we can diversify and grow, I think that’s also really important and again we’ve established a good reputation as explorers, also bring with us and have further enhanced reputations as people who are financially disciplined and good counter-parties to transact
    - We have a tremendous platform, I see it and our shareholders see it, but other companies see it too, Hav is a bit special and we should celebrate that.

    * How on earth is gold not increasing rapidly in this inflationary environment, partly because of the strength of the US dollar perhaps but very bizarre?
    - As someone who did a little bit of economics when younger and certainly a bit rusty but gold is traditionally a good hedge against inflation so I think that’s positive but in the research I’ve read in the last couple of years there is an ongoing and stronger correlation with the US dollar so can have short term impacts where gold turns around
    - When you look at gold in an Australian dollar set (and remember that is what will determine our margin), AUD gold price is still fantastic, still tremendous and we’ll be having a $!500 announced profit margins, that’s outrageously good
    - One of the beauties of being an Ozzy AUD gold producer is often that currency is your friend; when the AUD appreciates typically the gold price offsets that and vice versa
    - So you tend to have a slightly more protected margin given that the Ozzy currency is a bit of a commodity and risk on currency, so it is a lovely hit
    - And the other element is we’re 20% copper, it’s a beautiful stablemate, the best gold mines have copper and I love the diversification, I love the copper story and the outlet to EV's and we continue to consider base metal opportunities within Havieron
    - In due course we'd like to talk about perhaps other base mineral opportunities within Havieron
    - So, I'm really attracted to diversification and I think Havieron brings that and in future metals which is a unique place to be
    - To have a combination of gold and copper and maybe some other metals, you couldn't script a better platform.

  6. BigP

    BigP Keeping the Faith

  7. BigP

    BigP Keeping the Faith

    hydrogen [​IMG]

    RE: Replay - NCM at 2022 Bank of America Global Metals, Mining & Steel Conference

    Cheers Dip, Sandeep was up beat and positive about Havieron, but maybe not gushing as he has been in the past. He describes it as very high grade (for NCM?) Still delineating the Ore body... Leveraging the existing Infrastructure... Showing excellent drilling results and importantly "continuing to show high grade extension, laterally and at depth" ... with significant potential for future growth.

    Acknowledged / Confirmed that the Stage 1 PFS is only a very, very small proportion of the resource which has massive growth potential.. and there's potential to extend the Telfer LOM to smooth out the transition to Havieron ore.. He likes the copper 35%-40% of the company's revenues . He bigged up BruceJack's exploration results so I'm going to take a look
  8. BigP

    BigP Keeping the Faith

    RE: Low bid offer
    All this chat of take-overs made me have a look through the take-over code and rules.


    Very interesting paragraph in there :-

    "Insider dealing
    If a bidder possesses inside information in relation to a target, the insider dealing rules mean that the bidder will not be able to acquire any shares in the target company until the information ceases to be inside information. The fact that the bidder is considering making an offer for the target company can, of itself, constitute inside information. However, if the bidder does not possess any inside information other than the knowledge that it expects to make an offer for the target, it should still be possible for the bidder to acquire shares before the announcement of the offer without breaching the relevant insider dealing legislation."

    The fact that NCM have continuously updated drill results, XRF readings, Modelling of the ore-body, etc, etc that is not available to the market would IMO give them insider knowledge and prohibit them from building a stake in GGP and I think they would need to halt exploration drilling and cleanse themselves of all information before they could even make a bid - I'd appreciate if there were a lawyer with experience who could confirm this though as it's only my opinion.

    Were this to happen - our SP would rocket on the speculation that a bid would be incoming. All this leads me to believe that NCM are more than likely not involved in any nefarious practices (apart from downplaying Havieron recently) in regards to the SP - if there is manipulation going on then it's more likely to be a group of spivs who are playing on our emotions.

    All in my humble opinion and please DYOR - Paddy
    mart101 likes this.
  9. Groucho

    Groucho Member

  10. Groucho

    Groucho Member

    BigP likes this.
  11. BigP

    BigP Keeping the Faith

    Notes from GGPHelp Interview with Liam - Part 1 - 25 May 2022

    An absolute and long awaited pleasure to be able to say ..... here are my notes for Liams first of many I am sure interviews with GGP's MD Shaun Day, congratulations and well done for an amazing interview Liam and looking forward to part 2 in much anticipation!

    Download Link:

    Interview Link:

    Notes from GGPHelp Interview with Liam - Part 1 - 25 May 2022
    Interview: (**Remember to subscribe to this new YouTube channel***)
    * GGPHelp TV has a guest, and it's a guest that we've wanted to talk too for a very, very long time.
    I'm pleased to say that we have been joined today by Shaun Day, Managing Director of Greatland,
    Shaun - it's an amazing opportunity to have you here and I can't thank you enough for this,
    welcome to the show.
    - Hi, Liam, firstly, thanks for having me. Been looking forward to the discussion.
    * Your entire career has been related to mining. Is that something that happened or did you leave
    school knowing it was something you wanted to do.
    - In terms of my career, growing up and being educated here in Perth, Western Australia is a huge
    mining sector. So, although I started off in consulting and banking, really a lot of the work that you did
    was related to mining clients and my first move across to resources was joining the team at Straits
    Resources and I got to know them through that work.
    - They had a fantastic reputation as a team and that really was my entry into mining and I enjoyed it so
    much that at one stage I think I probably didn't necessarily know I'd be in mining for the rest of my
    career, but I think it's such a wonderful set up in terms of you're doing something very tangible, it's a
    lovely collegial atmosphere and it's been an exciting opportunity for me. So, it's something I kind of
    went in because the opportunity arose with a client, but that really started just because of the
    enjoyment and the fulfilment I've had individually or as a person through the sector.
    * I've been involved with Greatland now for probably the last 18 months, two years, and over that
    time I've really become a massive geek on geology but do you find yourself looking at rocks and
    getting attracted to the geological side of it at all?
    - Yeah, I look at it particularly here at Havieron, it's a really interesting ore body, it continues to grow
    rapidly. Look at our last ten months of drilling has delivered a 50% increase in resource, 50% increase
    in reserves, that whole Eastern Breccia is potentially really significant. You then got the high-grade bits
    down on that southern extension. You've got the gap zone sitting in between there which we're going
    to start drilling now that the geologists are all up and about.
    - We see some other kind of base metals in that area as we get as we get towards it, into that massive
    sulphide zone that' sits in and around that Eastern Breccia, it's a beautiful ore body.
    - So yeah, look, you can't help but get pulled into it and it's six and a half million ounces already. It's
    only been discovered for about three years. The growth rate on this ore body will continue to be very
    - So, it's a world class ore body. And its fun working on world class ore bodies and the calibre of people
    we've been able to attract to GGP because of the geology and setting up something new and exciting, I
    think reflects that in what is a difficult market to get good people we've found tremendous people
    wanting to come and join us.
    *Which was going to lead into my next question, what attracted you to this particular ore body
    and company? But I think you've just answered that right there, would you agree?
    - Definitely. Look, you don't get to work on these kind of multi-decade Tier one assets for all of your
    career so when you spot one, you do want to get involved. And I must say, my first week at Greatland, I
    spent most of that with the resource geology and just going through that and I did a lot of due diligence
    before joining but it was actually better than I expected.
    - So that certainly coming in here I knew it was good, but it's been eye opening actually being behind
    the scenes and seeing the full extent of the opportunities.

    * Am I right in saying that when you look at the magnetic anomalies and or the Geo stuff, that
    some of this ore body, you didn't even know it was there until you got down to it with the drills?
    - Well, exactly right. A great example of that is this Eastern Breccia that's sitting right up next to the ore
    - That was discovered and I don’t want to underplay the story but the geologist went down to turn off
    the drill and saw that they were still going through breccia, breccia that had material, interesting
    breccia, which is what we look for. And he said, well, keep that rig spinning. I think some 200 meters
    later, we discovered the Eastern Breccia. So that's extraordinary.
    - And you know, you're seeing what is a very sizable system - the size of it, the depth of it means there
    can still be really significant discoveries.
    - And also on that mining lease, or our extension up into Scallywag, we're really excited. It's rare you
    find an ore body of this size without, you know, peripheral bodies to augment it. So, whether that's
    another Havieron or half Havieron, there's no better place to look for copper and gold than where it's
    already been.
    * Absolutely. And that's just what is so exciting when you follow that thrust and it goes right up,
    goes north and then comes back down through Scallywag, the Geo’s in your Geo department
    must be just crunching at the bit to get the drills into that on each side of that to find out what's
    really down there?
    - Yeah, very much so. And we're a little bit spoiled bt the targets. It's very rewarding drilling Havieron
    itself and then understanding this Eastern Breccia, that high grade component in the Eastern Breccia,
    that gap zone continuing to punch into the southeast gradient. All of that is really rewarding. It's
    always nice when you when you pull out these big intercepts but along the structure, we really want to
    understand what's on the mining lease and we're starting to turn to that now with Newcrest and we've
    got some really exciting targets
    - Now, time will tell but certainly the size of the prize is significant. And then as we go up into our 100%
    owned Scallywag, we've got dozens of mag and gravity anomalies there that we want to drill.
    - I always say we do try to sequence them but it's very hard really to be able to sequence them in
    exactly the right order otherwise geology would be easy.
    - We have some that look on a map better than Havieron, others with a lower signature. But I think it's
    very hard to know whether that high signature or the low signature one will be the one that ultimately
    delivers ore because there's so many variables that can go into how that signature is reflected in the....
    * Especially when you've got something like the Eastern Breccia that's just producing so many
    good results, so many good results with no signature in the first place. It just doesn't help at all,
    does it? So, when you visited us over here in London, one of the phrases that you mentioned a lot
    through that trip was the compound average growth rate (CAGR). Could you elaborate what you
    mean on this, please, in relation to Greatland?
    - Well, it's the growth per annum of, and I'm really talking about the fundamental value of the ore body.
    So, as you continue to add ounces, as you continue to incorporate those into the life of mine plan
    (LOM), you're then able to get these valuations and you can augment that valuation with material, with
    valuation on unclassified material that doesn't yet sit in the ore body.
    - But fundamentally you slowly work up this understanding of fundamental value. And when you have
    an ore body that's growing at 50% per annum.
    - That's even just the Reserve case, which is all new material coming into the ore body and that's all
    leveraging the same upfront CAPEX. So, there's still only one haul road, still only one decline, one camp
    so the capital efficiency as you bring in additional ounces just gets better and better.
    - We've got these cash costs sitting around $645 an ounce USD against a price circa $1850. You're
    making well in excess of $1,000 an ounce. So, you bring these ounces in, no additional CAPEX, it just
    falls to the bottom line, it just falls to cash generation and that drives up this Net Present Value (NPV)
    very quickly.
    - So, what I'm kind of trying to explain there with this CAGR, if you look at where we started with this
    ore body and you look at the various price discovery points, you just see this phenomenal growth rate
    and that's exactly what you would expect with a world class ore body.

    - And I think you’re seeing that, you're going to continue to see it and based on the continued
    exploration success and the targets that we have, I think you don't need a lot of imagination to see that
    continuing for years to come and that's when you start getting these extraordinary values which reflect
    the potential to have a top five Australian gold mine for, this is a rare opportunity.
    * Absolutely. Now, with that comes the potential opportunity for some of the larger miners that
    have got some massive skyscrapers there in Perth, might want a piece of this pie. With our share
    price dwindling over the recent times do you think that a takeover is something that we should
    look at, something that could happen to us and us not get to that that size and scale that we want
    - Well, let me answer that in a couple of ways. Look, firstly, it's incredibly frustrating from my
    perspective to see the share price not continue to move up, se continue to deliver outstanding results,
    the asset is clearly growing in size
    - Now markets ebb and flow, and we appreciate that. But what really concerns me and I think you hit
    the nail on the head, is there comes a point in time where your value doesn't represent the size of the
    prize and you become more susceptible to bids
    - Now, we don't have any insights on what the future might bring in that regard, but it's certainly gone
    to something that I spend a lot of our time thinking about and making sure we're prepared because, look, potentially there's nothing wrong with being taken over at some point in the cycle. But really, I
    think we'd all be incredibly forlorn if we sold this at a fraction of its full value.
    - And that, I think, is what I see the job of management and ultimately the BOD isn’t to determine that
    whether we're taken over or not, but ultimately is to make sure that if an event, if a change of control
    event occurs is centered around getting full value for our asset. And clearly right now, given the growth
    rate and the relative decline in our share price, that does concern.
    - And I think there's asymmetrical risk in our share price right now. On one hand, you buy the stock, you
    might get a takeover premium and well, that's nice. The alternative is you deliver the full value of
    Havieron and I think that has a much higher uncapped potential value. So, I think when I talk to some
    of the more sophisticated shareholders now, that asymmetrical risk in the share price is attractive.
    - But to be open with you Liam I don’t want to keep that in our share price, I want to kind of pull out of
    this current kind of performance and it is to some extent a function, I think, of this uncertainty around
    the 5%.
    - I think that is a process that we need to resolve at some point and would like to resolve. And I think
    once we have that, we can start moving through the gears and get through this transition period. And it
    has been and I’ve said in quite a few interviews, it's always been this kind of ballpark 18 months
    transition period. We're getting to the close of that. But at the end of this transition period, I want to
    remove these uncertainty events and I want to be fully funded.
    - And I think that gives us a platform really then where people just can concentrate on this short
    pathway to free cash flow (FCF) and continued growth in the asset and remember, when we talk about
    this asset, we're still not even really talking up that Bulk Mine, which is huge as you know, it's doubling
    the asset
    - Now, it's one thing to think about the value of that SE Crescent, which is formidable, but when you
    start talking about adding a bulk mine on top of that, you know, the size of this prize is substantial.
    * Which is just amazing. I mean there's been talk about this kind of thing on the boards and
    there's a compelling argument given the quality of the team that you've built around you that
    there's so much more to give and some obviously may have walked away from a safe job, I guess,
    to be part of the Greatland story. Obviously hypothetical, but would Greatland take the risk to
    allow Havieron to be sold to release the funds to make you a major explorer across the Australian
    desert with the fact that there's 20 different tenements out there all with Greatland’s name on, is
    that a possibility at all?
    - Well look I think this really comes back to the takeover question. I think you've always got to be
    pragmatic, if a strong value offer was made, we would consider it seriously
    - I think let me emphasize two points here. I think I'd like to see significant additional value in the asset
    to where it's currently priced
    - I think I'd also like to unlock the continued potential of this asset, when you're still growing at 50%

    every ten months, it's hard to put that line in the sand and then the third part is we don't necessarily
    yeah, my preference is we don't do us a swap. This is an amazing asset, I think I've already spoken to its
    - What an amazing platform to grow Greatland into a multi asset, multi-billion dollar entity
    - So that's what I'd like to do. But I'm sure my shareholders are not allergic to making money at some
    point and you have to say OK, well that's compelling but I think how do we get a compelling bid for it? -
    We don't think about short term, we think about medium to long term. We grow the asset; we
    demonstrate its value to where it's absolutely clear for everyone to understand the potential that we
    see in Havieron.
    - So that's our plan, to give ourselves the funding and the time to deliver at full value for our
    shareholders. Because I think what I want to avoid is us looking back and going, gosh, we held that
    globally significant asset. Gosh, I wish we had taken that to its conclusion.
    * Yeah, that's my thoughts as well as a shareholder personally, I'm happy to be here for the long
    haul and retire off of Havieron’s and Ernest Giles and all the other tenements that we've got as
    - And, and sorry, I probably didn't fully answer your question. If we were to sell, I don't think we would
    keep all the money and become the world's biggest explorer. I think we would want to return a lot of
    that to shareholders.
    - Now, there'd be a balance. I think we have a fantastic exploration portfolio; we continue to look at
    sensible ways to expand that and we're not afraid to let go some of the assets we think have less scale
    and opportunity in our portfolio,
    - So, we’re actively looking at some of these opportunities, which I think add a huge amount of option
    value to our portfolio. But if we were to sell Havieron, I think either that would be the sale of shares or
    the return of capital to shareholders would be a significant part of it.
    * Well that makes sense. Thank you very much for taking the time to answer that one and when
    you're not thinking about Greatland, well what do you do to switch off and wind down?
    - Oh look, I've got a wife and three kids so that certainly keeps me busy in the time when I'm not here in
    the office. But look, I'm everything from a junior rugby coach to chauffeur in chief and I really enjoy
    those elements. But yeah, we've got great kids and enjoy that tremendously.
    - But, you know, look, I enjoy sports. I enjoy running. There's a number of things I like to do but I think
    work and family and friends as well , certainly not as time rich as you are pre kids!
    * Looking at the office now, how many people have you got in the Greatland office?
    - So, we've got about 15 in the office and then site crews as well. So, it's look, it's a relatively small team
    but I think what we now have in place is an understanding of geology, resource geology, engineering,
    processing, legal and financing
    - I think we now have the full suite of skill sets that we need to be a good owner and to be able to
    understand and articulate the value of Havieron and that's made us much more capable of going
    through this 5% process or going through our funding process because we now have those full suite of
    - I think that the legacy we inherited, which was I an absolute top-drawer group of geologists, we've
    augmented that with additional skills to give us that more holistic understanding. It was great to
    understand the geology of Havieron previously, but it is a heck of a lot better when you can also
    understand the mind planning and the processing and the whole pathway to free cash flow generation
    - And that means we can deliver value for our shareholders because we understand the full value suite.
    * It is much easier when you understand something isn't it, to be able to then talk about it and
    make a plan and do things, that totally makes sense.
    - And this is all that transition, part of the transition is getting that the full team in place to understand
    the asset comprehensively and that builds the trust and the respect with Newcrest as well. So, I think
    you've seen a sea change in that relationship as well.
    - We really value the relationship. Yeah, we now have five technical meetings a month where previously
    that didn't happen. It's all about the engagement, you know we had a couple of Newcrest guys in

    yesterday, some more today where there is this respect, camaraderie and working together
    - Newcrest is a formidable group, we're lucky to have them as joint venture partners, but it's lovely for
    us to be able to augment their capacity as well. So yeah, I think there's so many positives and that was
    really the first thing I tried to do when I came here was to build the team, invest in the people.
    * Which leads me nicely to my next question. We understand that there's a monthly cookout at
    Greatland HQ. Who do you look forward to cooking the most? And the follow up there is what is
    their specialty?!
    - Look, there's a little bit of a rivalry about which we’ll go into to be able to impart that. I think one of
    the geologists Roger, might have us all covered so far in the cooking stakes. But look, it's good and we
    enjoy it. And I think you know; I think it's everything from steak to sausages and lamb and anything else
    someone can put on a barbecue
    - But yeah, it's a nice social element to it. And, and it's also a bit of investment in getting staff
    communicating. And I think we do that well in a relatively small team
    - But it's, it's actually nice to spend that time together. And the chats you have in the cross
    specialization you have across the teams when you are just talking over a.........
    * So, the most controversial question anybody is ever going to ask now is ...... gas or coal?!
    - Sorry, I know we're going into power generation or carbon or something, but I think you’ll find in
    Australia that pretty much all the barbecues are gas now, so that's a lot easier to have in your office if
    its gas powered.
    *Absolutely. So, talking about the energies and renewables, what's being proposed regarding the
    projects to achieve the 35% renewable energy at Havieron? Will it be local renewables and
    battery storage renewables itself are connected to Havieron or a power purchase agreement or
    what sort of ideas have you had in relation to that 35%?
    - Yeah. Look I think again one of the great pieces of alignment that we have with Newcrest is, is really
    well what are we trying to do? We're trying to get Havieron established quickly and efficiently
    - Yeah, we're driving down to the SE Crescent, pulling out the high-grade ore, putting that through the
    mill and then we can reinvest the cash flows
    - And one of the areas both companies really want to do with that free cash flow generation is reinvest
    in Havieron, both in terms of understanding it’s size and doing the bulk mine and other elements to
    make it bigger and more valuable, but also in the sustainability of it. And you saw us come out with our
    inaugural sustainability report
    - That's again part of the transition to becoming a more mature company, giving us a broader appeal
    both to debt and equity capital providers. But as part of doing that, we say we're connected well, we
    will be connected to Havieron by power cable, that will allow you to place, say, a solar generation plant
    potentially probably close to the Telfer and then bring it in by wire into Havieron or perhaps you split it
    and get your local power generation closer to Havieron and then have a separate facility up at Telfer
    - But I think that's certainly something both companies are committed to and we're really moving
    forward on that and there's a lot of work and studies being done. And then you start opening it up as to
    how you how you power your fleet and things like that as well
    - So I think there's a lot to be done and even moving to an overland conveyor, which again is a CAPEX
    investment but reduces your OPEX and increases your annual profit and ultimately moves us to kind of
    a zero, not just a 35% reduction but a zero-carbon footprint
    - So, we think it's achievable. And again, where are these things best achieved, where we've got a long
    mine life which means these CAPEX investments can be justified because whether they pay themselves
    back over three years or 23 years, if you've got a long enough mine life – they work.
    * Because at the moment the mine life is only 9 to 11 years on paper, isn't it? But in reality, it's
    much, much, much longer.
    - Well, we’ve already increased that with the updated reserve on the 1st of March
    - We've already kind of increased that by 50% but again, once you start dialling in the bulk mine, once
    you start pursuing that SE Crescent at depth and laterally you just keep adding mine life

    - It reminds me a little bit of an infrastructure asset in that once you build that infrastructure every
    incremental dollar, customer or ounce that you add to it, a lot of that falls to the bottom line.
    * Which is just fantastic. Do you think once these things once Havieron is up and running that will
    shareholder be able to visit and be able to physically see what they're invested in?
    - OK, it's always a little bit tough around your health and safety type issues, but what you see in a lot of
    sites is that they'll have a viewing platform. So, it might not necessarily be coming underground or
    something, but certainly a lot of sites you can go to in Australia will have a viewing platform and the
    opportunity to see some element
    - So that's, that's something we might do. I'm also, I know it's something that's appeared on social
    media a few people have mentioned and I think a group called Callidus in Australia has just done it,
    that's from that first gold pour doing some commemorative kind of gold coins. I think they're pretty
    special and I’ll certainly be lining up for one
    - So, I think there are things we can do to engage with shareholders and potentially that one of them
    but everything is seen through a prism of health and safety, which is our number one priority to get
    everyone home safely.
    * And I suppose in some regards a lot of Western Australians would be sort of thinking why would
    these people want to visit 50 degrees worth a desert? Like it's not very nice out there, it's
    inhospitable, at the best of times.
    - Yeah, if anyone wants to follow the temperatures in Marble Bar, which is kind of the closest town that
    is, that is regularly on the nightly weather report as the hottest place in Australia. So it is, it's a warm
    part and dry part. Well look, it has its own beauty, but it's certainly yeah, it's certainly not without its
    challenges as well. But yeah, that's part of the charm of opportunity.
    * Just a random question has popped into my head and something we talk a lot about on our chat
    group but hasn't really come up. Have you got any concerns over this Night Parrot and the signs
    that have been had between Havieron and Telfer, it’s come up in a report and it's obviously a
    protected species, but from your point of view, is it anything we should be concerned about?
    - We're an underground mine, so we have a very small kind of footprint, all of which has already been
    - I think one of the great benefits you've got of Newcrest is that their best in class and I like to think
    Greatland is as well but around these Environmental protection and community and social
    engagement. So, look I think you also find what we like to think, we actually improve the environment
    where we operate.
    - You know that feral cats are a huge concern up there, upgrading the environment around those
    things. You always want more bilbies more of those things and creating offsets where we create habitat
    for them to actually create positive outcomes for that
    - And I don't think that's unique to Havieron. I think you've seen that across the sector over 10, 20 years
    but building really for 40 years. And I think in the same way safety is just an unrelenting issue for a
    mining company, so is the environment and so are community issues
    - I think one of the joys of working in the sector is just that relentless pursuit of best practice, we really
    understand our social license to operate is important and you see the amount of resources that go into
    it just increases every year
    - I think again I referenced our sustainability report as well, it's something that we actually value as one
    of our core values. So, I think you should see that as a positive and certainly that the approvals we
    already have in place reflect that you're not seeing a lot of that kind of activity in that area
    - It's an incredibly dry part of the world. My understanding is unless there's a rain event, you don't even
    see camels up there, so that just tells you how dry this is. Again, it's a beautiful part of the world, but
    it's not abundant with wildlife.

    * That makes sense. And the indigenous people to the lands up there, I just wondered, will
    Greatland be investing in the communities up there as Newcrest do. Is that something that as we
    grow that would become part of Greatland's outlook and spending of that's the right word for it?
    - Yes, very much so. All the activity that Newcrest does up there is part of the JV. So, we are effectively
    doing 30% of that expenditure. It's approved through the management committee.
    - So, we already do. We do have our own separate engagement with the Martu people which we value
    - One of the questions we're talking about is, is Havieron the right name for the asset, you know, is
    there a more local name that might be more respectful?
    - So, we constantly try to engage and revaluate and work with the traditional owners of the land. Again,
    a shout out to Newcrest, I think they do that really well, they do a cracking job at that. I think we've
    learned from Newcrest as part of doing that
    - And I think part of the reason we have such a good relationship with the Martu is it's built on such a
    good foundation given the time, energy and effort that Newcrest do it. So, it's certainly something we
    continue to do, it's going to be something we continue to do into the future as well.
    * Wonderful. That's superb. This morning as she was leaving for school, I asked my 13 year old
    daughter that I'm speaking to Shaun Day, Managing Director of Greenland. What question should
    I ask him? And as she left, she said, what's his favourite flavour of ice cream? So, Shaun what's
    your favourite flavour of Ice cream?!
    - Well, I'm pleased she knew who I was to start with!
    - But I think the chocolate chip cookie dough may be my long-term favourite. It's rare I have it, but I
    think it's a Ben and Jerry's flavour, but dare I say should I see some.....I'd be very pleased to pick some
    * OK, and my final question before I move to part 2 of our interview, which is probably the most
    contentious - there's been a lot of talk lately over the share price and it's being so low and a lot of
    people have been calling for you to effectively buy more shares and it's not something you've
    done. I mean, would you buy more shares if you could?
    - Yeah Liam, I think it's yeah, I bought some at a higher price. I'd probably rather buy some more at this
    price, but I think people should appreciate that under current governance, we only have very limited
    windows around where we are able to deal in the stock
    - You should take it as read that until these 5% issue is dealt with that that basically we've been under
    restrictions in terms of buying stock for all that time. So, although I think that's where we talk about it
    and that might be resolved in a relatively short period of time
    - Sometimes I see compelling value, but I'm not at liberty to transact and we really value governance. It's again, the sustainability is all about environmental, social and governance. It's, a really important
    element of how we operate as an increasingly sophisticated and mature company
    - But I kind of share the frustration but people should understand I only have quite limited windows
    where I or any of our team can buy the stock and yeah, sod's law, we'll probably have a window again
    where the stock price is up. But that, you know, we, are measured in when we do that, but it’s a good
    question as I have seen people ask me before on social media, so it's good to address the point. So, I'm
    glad you raised it.
    * Thank you. Which could be frustrating because obviously if the share price does go up and in a
    nice positive manner, you've done your job, which is fantastic. But then you've almost shot
    yourself in the foot because you're no longer able to buy at those prices that really do make it a
    compelling purchase.
    - And that's why we have equity share plan
    - So, I'm really incentivized, well it's multifactorial the incentive but certainly getting the share price up
    is the number one way to do that and is the number one way to grow the size of my financial incentive
    - So, I think that's addressed through that and will be an ongoing feature of how we retain good people
    but certainly we want to see that share price go up
    - It's good for me it's good for our shareholders and it's good for the company but we’re focused on
    medium to long term value, I'm not going to be sitting there on Twitter every day the share price is

    - I think people should have confidence we are building medium to long term value through a very
    deliberate and sophisticated approach
    - And I think that's what will create the best outcome for our shareholders in the long run.
    * That's a superb answer. Thank you. So that's going to conclude part one of our conversation
    today. So, thank you very much for that. And that was Shaun Day, Managing Director of
    Greatland Gold. Join Shaun and myself next time for a discussion around the 5% purchase option
    from Newcrest Mining.
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    31 May 2022


    Greatland Gold plc
    ("Greatland" or "the Company")

    Greatland commences second year exploration programme at Juri JV

    Drill programme to focus on high-priority targets within the Paterson Range East

    and Black Hills licence including targets A9, A27 and Tama

    Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce the commencement of the 2022 exploration programme under the Juri Joint Venture ("Juri JV") with partner Newcrest Mining Limited ("Newcrest") in the highly prospective Paterson province of Western Australia.

    Highlights of 2022 Exploration Activities for the Juri JV:

    § Drilling of three high-priority targets to commence in June across the Paterson Range East and Black Hills licences.

    § Aerial and ground electromagnetic data review is underway.

    § A programme of soil sampling along existing tracks has been completed and submitted for geochemical analysis, to assist in identification of undercover geology and potential subtle mineralisation trends.

    § Gravity data re-processing, aimed at refining existing and generating new targets.

    § Heritage clearances completed with establishment of camp infrastructure underway ahead of drill programme

    § The planned work has been agreed between the JV partners and is funded solely by Newcrest.

    The Paterson Range East licence lies approximately 25 kilometres north of the Company's Havieron gold-copper project and covers 224 square kilometres of Proterozoic basement rocks prospective for Havieron style gold-copper mineralisation. The Black Hills licence covers 25 square kilometres and lies approximately 20 kilometres west of Havieron and 30 kilometres northeast of Newcrest's Telfer Gold Mine.

    Shaun Day, Managing Director of Greatland Gold plc, commented: "After a promising first year programme, we are excited to commence on-the-ground activities for the second year exploration and drilling campaign under the Juri JV with Newcrest.

    There is an enhanced, rich source of information available to interpret from including prior year's drilling results, aerial and ground electro magnetic data and the Juri JV teams have used this to identify promising high priority targets to be drilled over the next few months.

    The Juri JV campaign forms part of Greatland's wider exploration portfolio in the highly prospective Paterson region and represents another opportunity to add value to the Company. In addition, we look forward to moving ahead with upcoming exploration activities at Greatland's other 100% owned licences to take advantage of our strong position in the region."
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    Greatland Gold commences second year exploration programme at Juri JV

    Published by Jessica Casey, Assistant Editor
    Global Mining Review, Tuesday, 31 May 2022 11:00

    Greatland Gold plc, the precious and base metals exploration and development company, has commenced the 2022 exploration programme under the Juri joint venture (Juri JV) with partner Newcrest Mining Ltd in the highly prospective Paterson province of Western Australia.

    Juri JV 2022 exploration highlights
    • Drilling of three high-priority targets to commence in June across the Paterson Range East and Black Hills licences.
    • Aerial and ground electromagnetic data review is underway.
    • A programme of soil sampling along existing tracks has been completed and submitted for geochemical analysis, to assist in identification of undercover geology and potential subtle mineralisation trends.
    • Gravity data reprocessing, aimed at refining existing and generating new targets.
    • Heritage clearances completed with establishment of camp infrastructure underway ahead of drill programme.
    • The planned work has been agreed between the JV partners and is funded solely by Newcrest.
    The Paterson Range East licence lies approximately 25 km north of the company's Havieron gold-copper project and covers 224 km2 of Proterozoic basement rocks prospective for Havieron style gold-copper mineralisation. The Black Hills licence covers 25 km2 and lies approximately 20 km west of Havieron and 30 km northeast of Newcrest’s Telfer Gold Mine.

    Shaun Day, Managing Director of Greatland Gold plc, commented: “After a promising first year programme, we are excited to commence on-the-ground activities for the second year exploration and drilling campaign under the Juri JV with Newcrest.

    “There is an enhanced, rich source of information available to interpret from including prior year’s drilling results, aerial and ground electromagnetic data and the Juri JV teams have used this to identify promising high priority targets to be drilled over the next few months.

    “The Juri JV campaign forms part of Greatland’s wider exploration portfolio in the highly prospective Paterson region and represents another opportunity to add value to the company. In addition, we look forward to moving ahead with upcoming exploration activities at Greatland’s other 100% owned licences to take advantage of our strong position in the region.”
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    Gold miners are snapping each other up – here’s how to profit

    Shares in producers of gold have had lacklustre returns over the past decade. Rupert Hargreaves explains why this is now reversing.
    by: Rupert Hargreaves
    31 MAY 2022

    Over the past five years, the gold price has jumped 44%.

    © Getty

    Over the past decade, the gold price has returned 16% in dollar terms, but shares in producers of the yellow metal have struggled to keep up with the value of the underlying commodity.

    Barrick Gold (NYSE: GOLD) and Newmont Corp (NYSE: NEM), the world’s largest gold miners, have returned -5.1% and 4.7% per annum respectively (including dividends) over the past 10 years. An equally weighted basket of both stocks would have returned -0.2% per annum.

    Over the past couple of decades the sector has been held back by a string of poor capital allocation decisions, which have contributed to higher costs, reduced efficiency and poor investor returns.

    Miners are now seeking out deals to boost growth and profitability
    Over the past five years, the gold price has jumped 44%. Instead of repeating the mistakes of the past, gold miners are trying to capitalise on this growth with sensible deals.

    Perhaps the most notable development was the merger of Barrick and Newmont’s operations in Nevada. In 2019 these two giants of the industry combined their operations in the state to create Nevada Gold Mines, the world's largest gold mining complex.

    By acquiring rather than developing new assets, miners can take advantage of the market’s failings. If the equity market does not understand how much a company should be worth, that’s something purchasers can capitalise on.

    That seems to be just what’s happening now.

    The volume of mergers and acquisitions jumped last year. The largest was the $10.6bn combination between Agnico Eagle Mines and Kirkland Lake Gold. Meanwhile, Newcrest paid $2.8bn for Pretium Resources and Kinross Gold (NYSE: KGC) forked out $1.4bn for Great Bear Resources. The value of the top five gold mergers in 2021 totalled $16.1bn.

    Canada’s Yamana Gold (LSE: YNGA) has become the latest miner to succumb to an offer. South African miner Gold Fields has agreed to buy the firm in an all-share deal valuing its Canadian peer at $6.7bn.

    Under the terms of the agreement, Yamana shareholders will receive 0.6 Gold Fields shares for each share they hold, a premium of 33.8% to the average share price over the past 10 days.

    Yamana investors will own about 39% of the enlarged company, which will have a $15.6bn market capitalisation. It will be the world’s fourth-largest gold producer with annual gold production of about 3.4m ounces. More importantly, the deal will enable the combined group to reduce costs by $40m a year and give it more clout when developing new projects.
    There is scope for more deals as gold miners face growing pressure
    Despite the recent flurry of deals in the sector, the gold mining industry is still highly fragmented, suggesting plenty of scope for more. The stable gold price is helping miners to offset rising costs and strengthen their financial positions. Better capital discipline over the past few years has also enabled miners to strengthen their balance sheets.

    At the start of this year, S&P Global Market Intelligence noted that gold mining deals were likely to grow “as miners scramble for a shrinking number of producing assets to keep their pipelines full.” There are also “fewer options” for larger producers. As such, “gold asset scarcity will send larger miners out looking to swallow smaller players that are sitting on active mines and higher-quality projects.”

    One company at risk of a buyout is Canadian miner Kinross Gold. The sale of the group’s Russian gold assets at a discount price has hurt sentiment. In London, Greatland Gold (LSE: GGP) is also one to keep an eye on. Its flagship asset is the world-class Havieron gold-copper deposit in Western Australia. Under development in joint venture with Newcrest Mining, the asset looks like a juicy target for Newcrest, which could move to buy out its partner.

    Centamin (LSE: CEY) is one of London’s largest listed players. Its Egyptian assets are relatively low-cost and the company itself is in a very strong financial position with a cash-rich balance. What’s more, the stock is trading at a price-to-book (p/b) value of 0.9.

    Fresnillo (LSE: FRES) is London’s largest gold miner, although it does look a bit on the pricey side at the moment. It might not be the first option for a buyout.

    If I had to pick somewhere to invest, I’d say the smaller producers are much more likely to receive a bid as larger players try and consolidate the sector on the cheap. Pure Gold Mining (LSE: PUR) and Pan African Resources (LSE: PAF) both appear undervalued with growth potential. Pan African also yields 5.5%.

    The stable gold price and growing demand for the yellow metal is supporting growth and deals in the sector. Investors may be able to capitalise on this trend by moving into gold miners.

    With the outlook for the global economy becoming more uncertain by the day, building exposure to this sector could be a good way to reduce risk while also throwing in the potential for an upside windfall if a deal emerges.
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    Research Talks Podcast - Stock Box - Greatland Gold - credit to Timbertrader on the other site
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    Just posted by PaddyG - an interview by Willem

    Fund manager Willem Middelkoop shares that junior mining stocks are on the verge of a very substantial move. He points out that the Toronto stock exchange venture index just made a new low relative to commodities. Thus, indicating we have probably reached a bottom. Willem discusses his fund’s approach to investing in this interview. He also warns retail mining investors that the Canadian venture markets are worse than the wild west because the bad players never get punished. Whereas in the wild west the bad guys eventually got shot. Willem Middelkoop is the chairman of the Commodity Discovery Fund’s management team and is ultimately responsible for the fund’s investment policy. Willem is one of the pioneers of discovery investing and is the author of seven books on economics and financial markets
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    9 June 2022


    Greatland Gold plc

    ("Greatland" or "the Company")

    Havieron Exploration and Development Update

    South East Crescent high grade zone extended which following recent Growth Drilling
    is now identified at extending over 1,000 metres of continuous mineralisation, and remains open

    High grade results within the Northern Breccia continue to demonstrate the potential for

    further high-grade mineralisation adjacent to the South East Crescent Zone

    Extensive Growth Drilling programme planned across the next twelve months,
    which provides substantial opportunity to expand Havieron

    Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, is pleased to provide an exploration and development update at the Havieron gold-copper project in the Paterson region of Western Australia.


    § Seven drill rigs currently onsite, all focused on growth targeting:

    § South East Crescent: continuous mineraliation identified across 1,000 vertical meters and remains open. Drilling continuing to progressively test for extensions to the South East Crescent, with drilling planned up to 400 metres below the Updated Mineral Resource1

    § Eastern Breccia: drilling continuing to define the greater mineralised footprint of the Eastern Breccia, including definition of higher-grade zones recently announced

    § Northern Breccia: drilling aimed at extending high-grade zones of mineralisation at depth

    § New Targets: drilling continuing to define geophysical targets outside of the main Havieron system with follow-up drilling planned at regional targets on the Havieron mining lease

    New drilling results

    § Drilling in the South East Crescent has extended the high grade zone down a further 100 metres with Crescent zone having now been continuously intersected to over 1,000 vertical metres (3800m RL2) and remaining open at depth:

    § HAD133W9 returned 85.8m @ 3.0g/t Au & 0.06% Cu from 1,604m and 25.3m @ 1.1g/t Au & 0.08% Cu from 1,471.1m

    § High grade results in the Northern Breccia reinforce the potential for further high-grade sulphide mineralisationadjacent to the South East Crescent Zone:

    § HAD055W4 returned 149.9m @ 2.7 g/t Au & 0.12% Cu from 877.4m,

    § Including 13.9m @ 22.8 g/t Au & 0.46% Cu from 1,013.4m

    § HAD055W5 returned 39.6m @ 2.8 g/t Au & 0.07% Cu from 983.6m,

    § Including 0.5m @ 96.0 g/t Au & 0.10% Cu from 1,020.7m

    § Early Works improvements: Construction activities by Newcrest are progressing including:

    § An exploration decline advance of 377.5 metres as at end of May 2022

    § Fuel facility fully commissioned

    The decline experienced improved ground conditions in the June quarter. Advance rates have improved after changes in the design of the decline brought forward the first downward spiral to the current advance position. This has allowed the decline to transition into better ground conditions. The Havieron fuel facility has now been completed and commissioned into operation.

    § Feasibility Study work by Newcrest is progressing and key contracts have been awarded. The Feasibility Study is still forecast to be delivered in the December 2022 quarter3.

    Shaun Day, Managing Director of Greatland Gold plc, commented: "The growth drilling programme continues to expand Havieron's mineralised system. The existing high grade mineralised zone of the South East Crescent now extends a further 100 metres below our previous Mineral Resource estimate. Testament to the scale of Havieron, there is now continuous mineralisation observed over 1,000 metres of vertical extent with the system remaining open at depth.

    With an extensive growth drilling programme planned over the next twelve months, there is tremendous potential to further expand the Havieron resource and unlock the true scale and value of the broader system.

    Pleasingly, the decline has encountered better ground conditions, resulting in recent improvements to the decline advancement rates."

    1 Refers to Greatland's Updated Mineral Resource as announced on 3rd March 2022

    2 Relative depth. All relative depth (RL) information is reported in Australian Height Datum (AHD) +5,000 metres

    3 Newcrest market update to Australian Stock Exchange on 12th October 2021

    Some statements contained in this announcement are or may be forward-looking statements. Actual results may differ from those expressed in such statements, depending on a variety of factors

    Significant New Results (intercepts are reported as downhole width not true width)

    South East Crescent

    § HAD133W9

    § 25.3m @ 1.1g/t Au & 0.08% Cu from 1,471.1m,

    § 85.8m @ 3.0g/t Au & 0.06% Cu from 1,604m

    Northern Breccia

    § HAD055W4

    § 149.9m @ 2.7 g/t Au & 0.12% Cu from 877.4m,

    § incl. 13.9m @ 22.8 g/t Au & 0.46% Cu from 1,013.4m

    § HAD055W5

    § 76.5m @ 1.1 g/t Au & 0.11% Cu from 892.5m,

    § incl. 11.4m @ 1.9 g/t Au & 0.12% Cu from 921m

    § 39.6m @ 2.8 g/t Au & 0.07% Cu from 983.6m,

    § incl. 0.5m @ 96.0 g/t Au & 0.10% Cu from 1,020.7m

    § HAD055W6

    § 43.2m @ 1.4 g/t Au & 0.08% Cu from 978.3m,

    § incl. 10.9m @ 2.3 g/t Au & 0.05% Cu from 978.3m

    In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: https://greatlandgold.com/investors/regulatory-news/

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