Key points from Investor Meet Q&A - July 20th

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https://www.investormeetcompany.com/inv ... d-gold-plc

Key points from Investor Meet Q&A - July 20th

*Slide 3 - GGP Highlights
- World class gold copper deposit of significant scale
- Already started putting in development structure (box cut and decline) - Unique world class asset with low capex/low risk start for expedited pathway to ounces and free cash flow
- Excellent balance in Paterson portfolio with additional exciting opportunities (Juri JV/Scally etc.)
- Proven exploration team and attractiveness of Hav now also bringing in new top talent

*Slide 9 - Havieron Vertical Profile
- world class 8500 ounces per vertical m for top 200m based just on the existing resource shell
- A lot of the ore body sitting outside current resource has high grade gold intersects
- lot more opportunity to add plenty more quality ounces
- More drilling density has correlated to higher ounces per vertical metre and potentially expecting an increase in future as density of drilling at further depth occurs

*Silde 17 - Green copper exposure
- Gold attracts a premium and we have around 20_% copper diversity too - Benefits in developing Hav without need to construct a processing plant and associated infrastructure i.e all the risk, capex, carbon footprint is reduced - Underground Gold/Copper mine equals lower carbon footprint vs open pit which creates this green copper/low carbon footprint attractiveness

*Slide 22 - Hav Drill Intercepts
- Various quality drill results since Dec 29020 MRE_
- Deepest hole at present at Hav is HAD084 - 342m hit running at some 746g/m shows that Hav is not ’tailing’ off
- Average intercept of 65m @ 1.71 g/t (AuEq) and average gram per metre of 111g

***Q&A***

- Decline reaching ore body?:
About 21 to 24 month journey to top of ore body, first half of 2023 in his current estimation.

- PFS?:
Coming out in second half of 2021 based largely on existing initial MRE, some infill drilling will move it at margin and increased confluence in categorisation of resource. This PFS is to support fast start of decline in advance of PFS/FS etc. Shows conviction of GGP/NCM in Hav ore body in starting decline before these studies, we still need studies to support fast start and define what can be mined in short term once ore body reached. All about getting material into Telfer plant by punching through the SE crescent which contains the high grade part of ore body, a lot of ounces per tonne generating free cash flow to reinvest into mine development. All this current drilling can ultimately be reflected in the DFS in 2022, post DFS you should also get optimisation studies considering alternative ways of mining, haulage solutions, material handling, optimisation etc. Expect graduating studies, i.e. PFS to support the fast start and as we progress each study will reflect a larger understanding of Hav, better outcomes and increases in resource size._

- GGP/NCM officially confirming Hav being mined?:
Need studies to support final investment decision, decline already being commenced shows the confidence held by all parties. The studies and graduating nature of them will give shareholders multiple catalysts for SP growth as the full potential of Hav becomes understood. Every month as we reach closer to cash flow the value of Hav from a DCF POV increases, the studies will be able to articulate that to the market.

- GGP tapping into ESG focus amongst PI’s and II’s?:
Shaun’s background and experience of II’s shows a huge focus on
ESG/sustainability and being able to articulate these competitive advantages will be key to attracting them. Lower carbon footprint Gold/Copper in a Tier 1 jurisdiction during life of mine will be very competitive amongst peers in terms of marketing and monetising Hav.

- Future direction (mining or explorer):
Want to be a miner via Hav, expanding team with relevant skills/people but tremendous exploration success, so investment will increase as cash flow does and also offers further catalysts for share price growth.

- Attracting more investment from PI’s & II’s in near future :
Shaun is well known by II’s and initial positions in company have been taken by some now. Focusing on sustainability and publishing the reports will help increase further investment, the constant drill results from eight rigs hitting significant mineralisation are also helping to communicate the size and potential of Hav, expecting annual update of resource in early December 2020 with a strong expectation to increase resource. Additionally, the historically strong engagement with PI’s will continue through forums such as this but augmenting this with II’s is important too now.

- Exploration plans outside Juri JV and Scally and parallels in GGP with growth at NCM/Northern Star as mentioned previously?:
Once Hav in production, plan to use associated free cash flows to create value for share holders. Parallels are through Hav being a ‘Launch Asset’, Hav is probably stronger than foundation assets in previous roles Shaun has held. Growth strategy is to deliver launch asset in Hav, continue to invest in drill bit by adding ounces and cost of delivery via exploration, remain disciplined in portfolio management via growth through being selective rather than growth for the sake of it.

- Paddy asks about progress in exploring the new targets in Hav area:
Number of other targets identified, they are a priority but huge intensity of drilling Hav at present. Really want to get to them but hitting intercept after intercept continually at Hav is a mixed blessing as keeps the rigs focused on these as more cost and resource efficient to drill these first. Still remain as known sleepers, but in a way it is fantastic that Hav keeps pulling in all resources.

- Additional second decline planned?:
States he will leave that to PFS albeit he can volunteer with NCM as JV partner that if you look at Cadia, they have a dedicated decline for a conveyor so certainly one of the mechanisms to be considered. NCM’s expertise, experience and confidence in such structures as conveyors, electrification, lower sustainability etc. will be very beneficial.

- Extracting by-products such as Cobalt?:
At this stage, laser focus is on Gold/Copper recovery at Telfer in the short term.

- With Hav being a vertical pipe and open at depth, what depth becomes prohibitive to mine?:
Vertical ore bodies are perfect for underground mining and Hav is deep. Ounces per vertical metre are a key consideration, for example Newmont’s Callie mine goes down to 2100-2300m depth as it has a favourable value. Mining engineering team overlays this with the mining methodology used, such as a larger scale mine leaving voids or a more selective large stoping mine, still big scale but then you might do a space fill to refill those voids to help manage seismic aspects and go deeper if high grade and more ounces at depth. A favourite saying is ‘big mines, big problems - little mines, bigger problems’ and Hav is a big mine whose value can be unlocked at depth due to the ounces per vertical metre. Optimisation studies after PFS such as DFS onwards will consider these kind of factors.

- Expected timeline for assay results from Juri JV?:
About 6-7 week lab delays currently, assay companies are investing in improvements so should shorten in future. Future exploration reports will outline delays expected and he does expect a lot of results to come through in future as the delayed results get delivered along with newer results being processed without delays.

- You’ve often mentioned the core yard seeing exciting results daily and how much growth drilling has been completed?:
About half way complete but expects rigs to continue past 65,000m once completed due to the size of Hav. Visually the cores look interesting but only results confirm what you have.

- Launching on a main LSE index?:
No set pathway, continue to focus on governance/ESG, currently comply with AIM and looking to comply to LSE too. Good ESG correlates to superior SP performance, perhaps through attracting broader range of investors. AIM has been a successful platform for GGP but main focus is about communication of best practice ESG rather than index preference.

- Divestment or exploration plans outside Paterson?:
Repeats being disciplined about portfolio, focusing on W.Australia as scale of deposits are generally larger. Tasmanian assets may have less potential scale, perhaps consider an earn-in model and focus on significant scale deposits for GGP shareholder value. May upgrade portfolio, letting smaller assets go and replace with higher quality assets as assets compete for exploration and resources, so outside the Paterson and Ernest Gile, other assets may be better situated with other parties who can focus on them via earn-in.

- Potential for a new processing plant to support district scale discovery theories?:
Reiterates Hav nearness to Telfer and the benefits mentioned previously along with experienced operating teams. Telfer mill is capable of 24M tonnes per annum potentially, NCM are very interested with deposits in close proximity and GGP is already benefiting from Telfer.

- Australian lockdowns affecting Hav?:
Australia managing Covid very well inc. vaccination program especially western Australia. Team is based in the most isolated capital in the world in Perth, which is located near the assets, and generally W.A has had a very small number of cases. Shaun has visited site last week and site remains open, not really impacted by lockdowns and border controls and NCM have really strict controls in place.

- Outside of Hav, which assets most excite Shaun?:
Hav and surrounding tenements contain many high quality targets and are planned for analysis, each set of results helps to reassess them on an ongoing basis. Ernest Giles is very exciting to him, W.A has approx. 70% of the national gold pour, the majority from the (Key?) greenstone belts at EG which haven’t been explored yet by drilling into the basement rock that would host the ore bodies. Trying to get an access agreement this year and hopefully get rigs at EG next year as that is a glittering prize in the portfolio. Reiterated portfolio may change again as and when opportunities arise.


- Potential for nickel?:
Bromus (Nickel/Gold) and Panorama have potential for nickel, it is presently one of the assets GGP explores for and continues to hold tenements related too. Loves the diversification GGP has with Gold/Copper, Shaun prefers Copper when it comes to Electric Vehicle exposure and the copper price supports that. Nickel is an important battery metal but Gold/Copper are the priorities, the potential size of an high quality nickel asset would influence whether it is developed by us or another party but will continue to consider it.

- Shaun’s feeling while standing outside decline portal?:
Talks about Callum’s key role and vision in making Hav a reality, his pride and excitement at the tremendous amount of activity on site, box cut and decline in place and engagement with the indigenous people.