Greatland Gold agrees $50 million loan facility with key shareholder Wyloo Metals

[Bottle Rocket - Liam]

youtu.be/vkKCZqIcGSA

transcribed by Otter AI - Not the best conversion, but gives you the gist of the conversation.
BR

Shaun Day from Greatland Gold Shaun Good morning.
Good morning A.nks for taking the time to catch up this morning.
A bit of a corporate update for me this morning. Tell us more about the standby debt facility. You've announced with wyloo metals. So what does it give you?

Yeah, thanks, Andrew. Yeah, we're really pleased with this announcement. So as people appreciate Wyloo, our strategic investor already in in Greatland, our largest shareholder and I think this support really reflects that ongoing strategic relationship and what we'd like to achieve with the platform together with wildly so there's a $50 facility, it's effectively a standby facility. But it gives us financial flexibility.
Given Greatland existing cash balance, why is this needed? Why is it attractive?

Yeah, Look, Great question. So we have sufficient cash we have a strong cash balance. As you know. But again, this is about having contingency and I think it also makes the market feel confident that we do have sufficient funding. So we think that's important. And look, we are in the middle of a development. They're not always linear. So it's nice to have that kind of insurance policy in in place, really, which is what this is, and I think hopefully that the market understands that and says this is having the contingency the flexibility to achieve what we want to achieve in terms of reaching the bottom of the ore body or the top of the ore body, I should say in June quarter of 2024 So just kind of six to nine months away.

We'll see a bit of an update here as far as the planned ASX listing. What's the current thinking?

Yeah, thanks, Andrew. In terms of the ASX it was a cross-listing so we're gonna remain in the London market, which is our home market and really important to us. But because it's just the adding across listing, we really felt we had the flexibility to finesse the time. So from our point of view, we've been a little bit disappointed with our share price performance over the last few months. And there's a great Winston Churchill quote, When the facts change, I changed my mind, what do you do? So for me, I think when the facts change with the Share, share price suppression. It just wasn't the right time to try to open up a new market front on the ASX. So we think let's continue to walk that forward in the background and have that prepared, but really we just didn't think it was the right time and in the interest of existing shareholders to open up that new market now.

And so sure near term, what are the plans? What's coming up from Greatland?

Yeah, for Greatland it's it's a really action-packed next couple of quarters. We of course want to come out with an updated resource estimate. There have been over 80,000 metres of growth drilling to incorporate that the cut-off of the last MRE was December, November actually 2021. So we're going to be trying to incorporate drilling all the way up to May , June 2023. Does kind of more than 18 months of additional drilling. We're really excited about how that builds the existing six and a half million ounces of JORC delineated resource. Then as we go into Calendar 2024 We reach the top of the Havieron ore body. So that's a huge milestone and achievement for us. Together with that, we should have the feasibility study, which again is a really important milestone, and it's a milestone in terms of accessing that existing 220 million of debt support with ANZ HSB ING. So we think it's a busy time and you know, we've just kind of that six to nine months window to get to the top of your body. It's been a journey has been an exciting journey, but we're really delighted to get that.

Special. Thanks for your time. Thanks