Notes from Proactive Interview with Shaun Day re. Tasmanian Sale - 01 Dec 2022

[DipSard]

Notes from Proactive Interview with Shaun Day re. Tasmanian Sale - 01 Dec 2022

GGP Interview:
https://youtu.be/5coo4m4CU-I

Flynn Gold Interview:
https://youtu.be/NNcBvSvEcd0

RNS:
https://polaris.brighterir.com/public/g ... ry/x5gjvpw

*Announced an option agreement to sell off your assets in Tasmania, just firstly talk us through the rational here?
- Held Warrentina & Firetower in portfolio for some years, like the assets, significant opportunity… mineralisation there but we think of it from a portfolio perspective
- Spoilt with a world class asset Havieron in the portfolio and can these assets compete with Havieron for an allocation of exploration budget
- And felt with these assets being logistically more difficult across in Tasmania as oppose to W.A and the potential size of prize compared to this multi-million (5.5Moz and counting at Havieron) these could do better in someone else’s hands allowing us to focus on our W.A portfolio, particularly the Paterson.

* And of course, you are obtaining and maintaining a future economic interest in these projects?
- That was really important to us, we like the projects we spent a lot of time on them, we’ve already encountered mineralisation on a polymetallic basis at Firetower so we want to continue to participate
- And the series of deferred consideration and importantly a royalty I think is potentially valuable for us, royalties are great as well as they’re quite a liquid asset and there are royalty companies that will purchase them off you but they’ll be worth even more as resources are delineated and a pathway to mining is more certain
- So, think it’s a nice structure for our shareholders to get a little bit upfront but also to participate in future success.

* Well look, I spoke earlier today with Neil Marsden from Flynn Gold (link at top of page) , why did you pick Flynn, you’ve known these guys for some time?
- Spoke to a few people in the sector, but we get on really well with them, it’s about integrity, it’s about working with people you’re comfortable with
- And of course because we have an ongoing exposure to the asset we wanted it to be on the hands of someone that are going to be focused and have the exploration expertise to be successful
- So, for all those reasons we’re really pleased with Flynn as a counterparty, it’s been a good transaction, not all transactions are but this one’s been really collaborative and well placed and for our part we thought we played our role in that but we really appreciate the Flynn Gold team there as well lead by Neil, so great team and we’re certainly rooting for them moving forward.

* And Shaun, any updates on Havieron, how’s that going?
- Yeah look, continues to be a tremendous platform for us
- I think in the last update in October we had about 943m of decline development, that’s over 1km now so that’s a little bit of a milestone for us all, got through down more than a km of that decline and as expected the ground conditions continue to be really good as we move in that deeper area of the Permian
- And then of course the exploration results, if you look at the body of exploration results we’ve put out at over the course of the Calendar year ‘22 it’s been tremendous
- And our intent is to put out an updated resource in early ’23 and you should all really be expecting that’s going to be very positive just by looking at that collection of drill… that body of work that the drill rigs have produced, so exciting times ahead for us.

* So, you and the team very much looking forward to 2023?
- Yeah, I think it’s going to be a really pivotal year
- Look we had a fantastic last quarter in terms of the funding, the board (heavyweight additions), debt and the strategic participation of Wyloo
- All of that we’re really appreciative of, it’s set a wonderful platform, I think moving into 2023 it’s about leveraging that platform
- I think I’ve described once kind of about shifting from defence to offence, there was a huge amount of work to get to where we are but now I think we can start enjoying the fruits of those labours
- So, you bet we’re looking forward to 2023.

* Good to catch up Shaun, thanks very much.
- Andrew, thanks for your time as always.

Download link:
https://www.mediafire.com/file/p9q25xd4 ... 2.pdf/file