Highlights from GGPHelp Interview with Shaun Day Q3 2022 Update - 03 Nov 2022

[DipSard]

Highlights from GGPHelp Interview with Shaun Day Q3 2022 Update - 03 Nov 2022

Interview:
https://youtu.be/J9sloPT4j5Q

RNS:
https://polaris.brighterir.com/public/g ... ry/x87y2pw

- Latest drill results cover 12 months of drilling since the last resource update as SE Crescent continues to deliver at depth, high grade pods in the northern breccia, star of the show is the eastern breccia growing broader and improved grades

- The Link Zone between the eastern breccia and SE Crescent that was initially considered barren seems to indicate a mineralised bulge joining up the high-grade portion of the eastern breccia

- Extension to DFS brings benefits of optimisation by incorporating a meaningful increase in the resource with a 50% increase to 3 mtpa production coming from a single decline by implementing overtaking lanes which should lower overall capital intensity so you increase ounces and NPV per unit of capital

- Additional costs due to inflation and increased production were planned for with the recent funding accounting for the increase in Capex and also a buffer and keen to finalise the study so can confirm but incredibly well positioned for it

- The last year has seen big derisking factors such as drill data confirming more ounces in the ground and improved progress made on the decline which remains a key focus. Expecting to hit ore during early 2023 but in a later tweet during the day also confirmed the official ETA for the separate event of First Ore is still early 2024

- The Decision To Mine should follow the DFS in short order although Shaun considers the decision in Feb 2021 to expend Capex as an informal commitment and looking forward to having a full Life Of Mine plan to endorse as a management committee

- Triple whammy of announcements with the debt, equity & high-profile board appointments that are world class encapsulated over 12 months of hard work increase the probability that GGP will be successful with Havieron, funding and opportunities to deliver growth

- The focus as a management team was to bring the three threads together, debt, equity and in augmenting the board have each of those processes support each other and make the other two more likely to complete to avoid vulnerability with an equity shortfall raising fears of an equity raise and weakening the share price further

- The opportunity for the new board members being presented as a chance to be entrepreneurial utilising a world class asset and growth potential GGP provides and to use their strategical and operation abilities from backgrounds in leadership positions at likes of BHP and Fortescue to aid GGP, while also bringing in growth opportunities using their influence and contacts

- Similarly, Wyloo as a strategical partner also bring credibility that the relationship provides GGP potential access to capital and deal flow that they will bring to the table

- The best EM target at Scallywag (Pearl) is currently being drilled along with Juri JV targets, somewhat reluctant to guarantee Lab assay turnarounds have improved marginally but there are good signs and expects cycle times for revisiting targets after drill programs to improve in future

- Rare for Newcrest to let a JV partner retain the lead on a 2nd phase of JV’s as they have with Juri and shows attraction of GGP to other potential partners through reputation of exploration skills and access to capital

- Great news with the funding through the WA Government at Ernest Giles and testament to team’s ability to create a report and investment case to apply for and gain funding. Still some work to be done on gaining access with First Nations but keener than ever and consider the probability and size of the prize as similar to the Paterson opportunities

- Getting the Option Exercise and funding concluded alongside increasing access to capital improves alignment with Newcrest but given the difficult stock market perhaps we still remain a little bit vulnerable to Newcrest

- ASX listing is still planned as a Compliance Listing with no plans for raising equity but at time of listing may be considered. Mainly an ASX listing will increase access to capital with some funds mandated to invest on listing or even just on a pathway defined to listing such as seen in a recent placing and offer other strategic options.

Download link:
https://www.mediafire.com/file/ba32uesq ... 2.pdf/file

Link To Read Full Notes/Transcript:
https://www.ggpchat.co.uk/viewtopic.php?t=592

Download link for Full Notes/Transcript:
https://www.mediafire.com/file/2rzhpzkq ... 2.pdf/file