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Q3 Quarterly Interview

Posted: Thu Nov 03, 2022 11:06 am
by Bottle Rocket - Liam

Re: Q3 Quarterly Interview

Posted: Thu Nov 03, 2022 12:29 pm
by paddygall
Cheers Liam - great update from the gaffer about the state of play. Was hoping for a bit more colour on the reasoning behind the FS delay but I guess that would need to be in an RNS as it would be material information anyway.

Some interesting comments about "being the partner of choice" for JV partners that may want to divest some of their tenures. Could that mean that some of the majors with ground in and around us could be looking for Greatland to lead their exploration campaigns in the Paterson.

Worth noting that RIO have the ground directly to the North & South of Scallywag and FMG (Wyloo's parent company) also have ground in the Paterson area.

As people have continuously pointed out the new directors aren't here just for the 30% of Havieron - seems to be lots going on in the background IMO.

GLA - Paddy

Re: Q3 Quarterly Interview

Posted: Thu Nov 03, 2022 1:50 pm
by Jiffy
Hi Paddy,

Re: 'Worth noting that RIO have the ground directly to the North & South of Scallywag and FMG (Wyloo's parent company) also have ground in the Paterson area.'

From what I can find Wyloo are owned by Tattarang.

Wyloo Metals is a company of Tattarang, one of Australia’s largest private companies.
https://www.wyloometals.com/who-we-are/

https://www.tattarang.com/news/

Re: Q3 Quarterly Interview

Posted: Thu Nov 03, 2022 2:43 pm
by paddygall
Hi Jiffy,

Probably the wrong use of parent company by me, but Tattarang is the holding company for the Forrest family’s private business interests and we all know that Andrew "Twiggy" Forrest is the Executive Chair of Fortescue Metals Group (FMG)

Look at the other two names of the top line of their board of directors - anyone look familiar?

https://www.fmgl.com.au/about-fortescue ... -directors


ATB - Paddy

Re: Q3 Quarterly Interview

Posted: Thu Nov 03, 2022 2:49 pm
by ManFromUruguay
Hi Paddy out of curiosity what do you think Seb Coe brings to the table ? 😉🙋🏽‍♂️

Re: Q3 Quarterly Interview

Posted: Thu Nov 03, 2022 3:32 pm
by archer1415
Seb Coe was a founding member of Fortesque and was welcomed back in 2018.

https://www.listcorp.com/asx/fmg/fortes ... 23024.html

Re: Q3 Quarterly Interview

Posted: Thu Nov 03, 2022 4:07 pm
by zoros
Liam - a big thank you for a well structured and cohesive interview. You covered a good spectrum of areas - all of which most of us were keen to hear SD's views. Thank you.
My original thoughts about a buy out continue to recede. SD's comments about future plans - ASX, BoD, financing, The Paterson, Wyloo, and so on lead me to lean more and more towards GGP becoming a major force in the mining industry going forward.
2023 in particular looks busy across their entire portfolio.

Z

Re: Q3 Quarterly Interview

Posted: Fri Nov 04, 2022 1:02 pm
by Bottle Rocket - Liam
zoros wrote: Thu Nov 03, 2022 4:07 pm Liam - a big thank you for a well structured and cohesive interview. You covered a good spectrum of areas - all of which most of us were keen to hear SD's views. Thank you.
My original thoughts about a buy out continue to recede. SD's comments about future plans - ASX, BoD, financing, The Paterson, Wyloo, and so on lead me to lean more and more towards GGP becoming a major force in the mining industry going forward.
2023 in particular looks busy across their entire portfolio.

Z
paddygall wrote: Thu Nov 03, 2022 12:29 pm Cheers Liam - great update from the gaffer about the state of play. Was hoping for a bit more colour on the reasoning behind the FS delay but I guess that would need to be in an RNS as it would be material information anyway.

Some interesting comments about "being the partner of choice" for JV partners that may want to divest some of their tenures. Could that mean that some of the majors with ground in and around us could be looking for Greatland to lead their exploration campaigns in the Paterson.

Worth noting that RIO have the ground directly to the North & South of Scallywag and FMG (Wyloo's parent company) also have ground in the Paterson area.

As people have continuously pointed out the new directors aren't here just for the 30% of Havieron - seems to be lots going on in the background IMO.

GLA - Paddy


So much going on, and I am really excited to see what we have to talk about in Q4!!

Thanks, folks!

Liam

Re: Q3 Quarterly Interview

Posted: Sun Nov 06, 2022 5:26 pm
by DipSard
A big reason for watching Liam’s latest interview for many of us was trying to understand Shaun’s perspective on the DFS extension, so focusing on that:

What we saw from the last 12 months of results is that the SE Crescent is delivering HG at depth, HG pods in the N.Breccia, E.Breccia growing broader and higher in grade with the 'Link Zone' between the SE Crescent and E.Breccias proving to be mineralised and looking likely to figure in future mining plans. In Shaun's words 'when you start kind of filling in gaps with high grade material, I think that's very positive'. All this of course will be reflected in an updated resource estimate that will be implemented into the DFS.

*Benefits of DFS extension as discussed by Shaun include:
- Updating with a larger resource which is annually prepared for mid Feb 2023 by NCM for HY Results VS using 13 month old data in the DFS
- Implementing this larger resource into the mining plan to increase LOM and production
- Increasing the production profile to 3 mtpa from 2 mtpa as signposted since PFS utilising overtake lanes etc. in existing decline which is already in development
- GGP funding has been arranged with above requirements considered and the additional Capex should have the net benefit of lowering overall capital intensity of the project, 'i.e., you'll be getting more ounces and more NPV per unit of capital.'
- The above suggests that increasing the mine’s production capability delivers optimisation, thus feeding into a stronger business case for a DTM.

*Other areas:
- In the interview he also stated 'So there isn’t the additional CapEx of a whole new decline', I am unsure if this means that a secondary extraction method won't be included in this study? Perhaps leaving for a future study or he can't indicate this as a possibility as very market sensitive?
- Will we see production move forward into 2023? IMO the chances improve if the decline progress continues to deliver increased daily rates with a DFS that probably isn’t due until early 2023 now, so another potential benefit in the extension is more time to assess this.

*Lastly, NCM measures that should assist in combating inflationary effects in the DFS as detailed in last earnings call:
- Newcrest has fiscal policies around hedging and long term contracts for areas inc. fuel, manpower, infrastructure maintenance etc. which is BAU for any corporation
i) Market is forecasting some key costs such as fuel, power, shipping and steel to reduce in FY '24
ii) Supplier shifting and contract negotiations through to detailed demand management and inventory management
iii) Consolidation of contracts, volume-based discounts, rate standardisation, low-cost country sourcing
iv) Other levers like the use of digital enablers to increase efficiencies, something Newcrest has used to good effect in other projects.

Notes: https://www.ggpchat.co.uk/viewtopic.php?t=592