Interview: https://youtu.be/qmAWxHYWkro
Fill Transcript & Slides: https://www.mediafire.com/file/y7w24o56 ... 2.pdf/file
- Currently reviewing the opportunity to undertake an ASX cross listing in conjunction with the current AIM listing on the London Exchange.
- Still on schedule for first production ore in early 2024 at Havieron with a rapidly increasing 6.5Moz gold equivalent resource that will continue to grow strongly.
- Option Exercise for NCM to purchase an additional 5% was based on the PFS in Oct 2021 which covered just a fraction of a fraction of the ore body.
- GGP’s independent MRE earlier this year updated the resource by 53%, reserves by 50%, included an updated mine plan and helped increase value over five-fold by adding over $1bn USD just 64 days after the PFS from $228m to $1.2bn.
- Option exercise process was very prescriptive down to metrics such as price decks so it set an option price not FMV for 5% of the mining lease at $60m, the result was a great achievement by the team as the independent valuer was not building a value but selecting one from valuations submitted by GGP and Newcrest.
- The SE Crescent continues to grow but this growth was excluded from calculations as were bulk mining areas augmenting the SE Crescent and continued exploration upside - this is a beast of an ore body.
- Compound Annual Growth Rate since the Havieron maiden resource in Dec 2020 has been 43%, have over 218,000 tons of copper and reserves sat at around 3Moz Gold Equivalent at 3.7g, it’s a high-quality ore body that continues to expand.
- Conversion of the resource into reserves currently runs at 86% which tells you that this is a high-grade ore body sitting next to infrastructure that virtually all comes into the mine plan.
- Ounces per vertical metres are currently at over 8000m in the top half of the ore body and there is a clear correlation between ounces discovered and delineated and meters drilled as exploration continues.
- It's a very consistent ore body and what ounces per vertical meters deliver for you is an incredibly efficient in-mine infrastructure, resulting in a good capital efficiency together with a low all-in sustaining cost (AISC).
- As they drill the northwest pod, it is linking up with the northern breccia to create a good grade corridor coming in and touching right up to the SE Crescent.
- Drilling in the south of the eastern breccia has had some of the highest hits in the ore body with grades more reminiscent of the SE Crescent, exciting to have another area that looks like it’s very high grade.
- A number of very high-quality targets across the mining lease that they’re very keen to continue to chase such as Havieron North, Zipa and Meco.
- Havieron’s ounces per vertical meter already deliver a lowest quartile cost around $643 USD an ounce and means GGP is the second lowest cost gold company on the planet and given Polyus is Russian with the associated geopolitical issues currently, this indicates that GGP is the lowest investable gold company on the planet.