Bank funding is the next transition issue

[Dot01]

With the dust settling after GGPs early Christmas present.

In a reversal of the usual Christmas tale…consensus was no present under the tree. Waited into the early hours and discovered 5% of a tier1 gold/copper mine, rather poorly wrapped by Sandeep but frankly it is all about the present and, for everyone bar Newcrest, nothing about the wrapping.

Shaun has eloquently communicated the GGP development journey both verbally and in the excellent and engaging company presentations.

In laying out “transition issues” he has helped existing and potential investors….and lenders… to understand the next steps of the journey. Transparent commitment to key areas needing to be addressed leaves him and his team open to scrutiny and account.

Many of these are well underway and/or delivered;
- grow the GGP team capability, adding specific expertise to be a “good partner” in the JV, able to add value and hold NCM to account
- resolve the 5 Diggers (Pacific Trends) share issue for the benefit of all parties
- resolve the 5% process and maximise the outcome for GGP and it’s shareholders
- raise funds via placing to ensure financial stability and element of independence in the very short term

Articulated and still to be finalised are;
- bank finance
- adding highly experienced and connected directors/NEDs using his “extensive Rolodex” of contacts (as the Sprott note put it “bringing the (Northern Star) band back together”)
- dual listing with Shaun sounding very positive toward the ASX option

Matt Biddle shared an e-mail reply from Shaun on the Telegram group last evening just pre the closure for the weekend.
It was congruent with Shaun’s comments at the recent London meeting in both the formal and informal sessions. He was bullish, explaining that he has for some time been engaging with, and has received lending term sheets from, a number of”tier 1 high street” lenders that we would know.

Orderly and highly successful navigation of the issues needing resolution as GGP transitions from junior explorer to a miner of precious and base metals.

[ManFromUruguay]

Excellent assessment Dot thankyou!

[LoggyLogbot]

Looking back at Dot01's post - who had an extremely good handle on what was about to happen!
Dot, if you're around I would be interested in your thoughts now the finance is sorted subject to shareholder approval....

[Dot01]

Thank you Loggy.

Shaun has been consistent in his strategy and signposted it clearly over time. The 3 topics I pulled out as still to be finalised were topics he spoke about some less explicitly than others at the informal session at the last Town Hall.

I hope (and expect) the resolutions to be passed which lays to rest the finance pillar.

The appointment of the 3 new heavyweight directors sets the stage for ASX listing in the near term and the foundation for multi billion, multi asset status over the medium to long term.

I foresee the 3 directors being followed by impressive senior management over time as we move to first miner of Havieron and then likely acquirer of other producing assets.

I only wish that I was in the country to be able to attend the Town Hall meeting next week and would recommend it to anyone who can get there.

I am sure that there will be much shared in respect of background to the announcements we have all seen and heard.

The real value will be in the mood music/clues to the next stages.