Notes from AIM ON-AIR GGP July 23 Update - Parts 1 & 2 – 26 & 28 Jul 2023

[DipSard]

Notes from AIM ON-AIR GGP July '23 Update - Parts 1 & 2 – 26 & 28 Jul 2023

Interview Part 1:
https://youtu.be/UGvcA0MTCHk

Interview Part 2:
https://youtu.be/0ot7FPPbaE0

Havieron Exploration and Development Update RNS:
https://polaris.brighterir.com/public/g ... ry/xql1z2r

Part 1
* It is 26th of July 2023 and you're watching Aim on-Air we're specializing in connecting companies with shareholders is what we do best. Hello and welcome back to Aim on-Air my name is Liam and today I'm pleased to be hosting Shaun Day from Greatland welcome to the show Shaun
- Hi Liam and thanks for having me on Aim on-Air again

* It is always a pleasure, news this week sees the initial Diamond Drill program for scallywag complete but what targets have you evaluated?
- yeah thanks Liam so we've completed drilling across I think five anomalies A35, A34 Swan Pearl and Ramses Target so and a lot of that was following up initial work we've done in the prior program so yeah so it's nice to kind of follow them up and we're still waiting assays of course but it was a good program

* Fantastic and how many targets have you drilled and what other activities have you completed at this newly secured Paterson South project?
- so at Patterson so firstly look you know great effort by the exploration team where within four weeks of completing that agreement with Rio Tinto exploration we've managed to get a drill rig onto the site so what we did is effectively two initial targets
- so these targets were firstly Stingray which was a diamond drill hole and then Decka which was RC and just for good order the reason it was RC at Decka is just simply because it's a shallower ground cover so the RC was able to penetrate sufficiently to get the data and although you don't see all the structure with that you see with a diamond drill hole what you do get is a larger volume of material so it's RC holes we actually think have a very you know very useful role in our programs

* Okay thank you and how are things coming along at Havieron?
- look Havieron’s you know continued to progress really well
- obviously the focus there is on the decline but importantly at that decline we got through the middle aquifer
- so when you think about an aquifer you know this is just basically rocks which are more cracked more breciated so they're able to have more kind of water flowing through them or you know carry more water
- so it's just so it's not a big body of water per se but there's just more Ingress of water in the into the decline so we were able to successfully manage that middle aquifer
- we're through that now that's really important derisking and what you will observe is you know that we slow down a little bit we take smaller cuts but so it's nice to get that through and now we're back out as we finish this third spiral we then open up into another straight section before getting into that final spiral and down to the top of the ore body

* So things are ever getting closer and closer to reaching the top of the ore body?
- Yeah look it's nice to have the Finish Line if I can describe the bottom of the permian or top of the ore body as a Finish Line because obviously that's when the where the real work starts but it is nice to nice to have that you know coming coming up ahead of us

* Absolutely turning our attention to the future now is there any word on the ASX cross listing?
- oh look it's yeah look we remain really confident about the September quarter but look it's… you're navigating two sets of regulatory environments in Australia and the UK you know just takes the time it needs
- but we still feel really positive about what the ASX does in terms of augmenting what we already have and appreciate in London
- so I again I think you know stay tuned but yeah we're in the September quarter and we continue to believe we can get this lodges during the September quarter

* Wonderful thank you for your time Shaun Day managing director of Greatland Gold
- thanks Liam.

Part 2
* It's 26th of July 2023 and you're watching Aim On-Air specializing in connecting companies with its shareholders is what we do best. Hello and welcome back to Aim On-Air, my name is Liam today I'm pleased to be hosting Shaun Dave from Greatland welcome back to the show Shaun
- hi Liam thanks for having me on it again I appreciate it

* It is truly wonderful to have you back thank you. Greatland is a leading mine in development and exploration company focused on precious and base metals we're developing or they are developing the world-class Havieron gold copper deposit in the Paterson region of Western Australia while delivering multi-project exploration in a low-risk jurisdiction, it seems Shaun the community are embracing the Icebreaker questions and I've been sent a couple today you can choose between some pits or Australian rock!
- I'm happy with either but let's go for Australian rock just to make it a little bit different

* John says Shaun as every Australian seems to be a fan of legendary Australian rock band AC/DC what is your favourite song by them?
- I think maybe back in Back in Black but the it is yeah that is a it is a great Australian band that used to play during my youth a lot

* Okay so on with a quarter review for Q2 of 2023. The end of June saw GGP make its first update to its sustainability report what are the highlights for you here
- yeah look I think the sustainability report is a reflection of our growing maturity and it's again about trying to broaden the breadth of shareholders we can attract and be kind of match ready when we speak to institutional shareholders
- because virtually every institutional shareholder will expect you to have a sustainability report
- I think for me the real you know stride forward we've taken is we think we've made progress in environmental social and government but I think for me if I was to highlight one of those it would be the social engagement with the First Nations
- I think that's been highly successful the relationships we have in the in the Paterson we really appreciate that relationship with the Martu people but also the relationships we've developed at exploration side and putting in in place formal land access agreements which has been a real focus for us
- so yeah really proud of that and we think it's one of the ways we make an impact on the communities we operate within

* Thank you the 30th of May you announced a farm in with Rio Tinto South Paterson and four weeks later the drilling begun and this week you've announced that you've completed the initial program, we touched on it in the new part of the show but could you elaborate what's excited you about both Decka and Stingray targets and without divulging too much information as it's forward-looking perhaps a few words of feedback from the geologists that have been on the ground there?
- yeah look I I think you know the Budgie Downs tenement which is where that initial drilling has been undertaken is a stunning you know opportunity for us
- it's a long structure from Havieron so it's relatively well it joins our current holdings and Rio Tinto exploration team we thought had done a great job in terms of gathering and undertaking geophysical work
- and what particularly if you have a look at Decka it's and we have a slide in the presentation but it's out there but it's this lovely confluence of EM anomaly magnetic anomaly but also a gravity gradient
- which is interesting because you can see a change there so those are the kind of the three things that you associate with say a Havieron discovery so we think that yeah exactly what we're looking for and the fact that Rio Tinto had worked these opportunities up and then we came in and reviewed them and kind of had very similar interpretations we thought only you know increased our interest
- if you look at Decka it's multiple structures there to test and then Stingray which is a little bit deeper also it has a really highly attractive structure to test
- so that that is the excitement of being there and I think the Geo’s on the ground have been you know I think the fact that they were able to mobilize a rig to drill there within four weeks of the agreement is testament to the way they feel about it and they're excited to have this whole new expanse.. it's more than doubled the Rio Tinto exploration agreement has more than doubled our footprint in the Paterson
- I think we're hugely excited at the opportunities that brings

* Fantastic any word on how long assay times are at the moment from the laboratories there in Perth?
- yeah look assay times have come back a bit so I think they're more kind of you know come coming from kind of you know plus 10 weeks you know more ballpark two or three weeks
- but just so people understand there's a matter of you know getting the let's say the core, cutting that core, transporting it back up to Port Headland then trucking that back to Perth then having it processed then and into it so although that the assay component of that has gone from a really long time to a much shorter time the logistics change and the truck availability still does have quite a bearing there
- so please don't expect them to be released in two weeks time but it will be quicker than what you observed in 2022 or 2021

* That makes sense thank you, early June saw the wrap-up of the Tasmanian assets for Warrentina and Firetower to Flynn Gold, can you share with us any thoughts about this deal?
- yeah we were really wrapped to conclude this transaction
- I think we'd been saying for a while we were reviewing our portfolio
- we felt you know with without for those who don't fully appreciate the geography of Australia our Havieron… the office we’re based in is all in Western Australia and then we had these assets in Tasmania which is a state that sits to the South of the Mainland
- so it's quite logistically different to go down to Tasmania, it's a different topography it's a different geology, we really felt we were geared up for exploration in Western Australia
- so we were really looking for a partner there that was focused on Tasmania and we felt had a competitive advantage to us being part-time there
- so we were delighted to find Flynn Gold so we've put the assets into Flynn Gold but we've retained an ongoing exposure to their success with a combination of equity and a combination of more equity on milestones plus a royalty interest
- so we have ongoing alignment and support and we're a meaningful shareholder now of Flynn Gold but we're really delighted for that to be in a focused organization that's thinking about how to unlock value in Tasmania

* Brilliant thank you very much, Yasmine Broughton was appointed in May to the Board as an non-executive director, given your comments before about Greatland board being one of the strongest boards in Australia prior to her arrival I'm curious and somewhat excited to find out what there is down the road for the company with what lays ahead because it feels like this is not the sort of board that would be built just for a 30% of a gold mine wouldn't you agree?
- yeah look I would the tell you to look firstly let let me say you know Yasmine brought in his magnificent addition to the board in in a couple of ways you know
- firstly she's an extremely experienced director including in resources and interestingly has sat on another Australian London listed gold producer being Resolute so has some direct experience
- but importantly when we did a skills Matrix for our board,legal is the one area we didn't cover, Yasmine has a background in that so it really is just additive to the team I think our board is now full sized I wouldn't expect there to be any additions to that board but where but yeah you're right we've built a management team and a board to leverage this platform for growth and we think we have the connectivity the skills and the connection to optimize the future for GGP
- and what we think in the short term that's around completing the ASX listing and progressing construction of Havieron but yeah we're pretty open about the three pillars to our growth which is delivering this expanded Havieron, continuing to invest in the drill bit and we talk about the just now about the Rio Tinto exploration transaction but also looking where we can leverage the platform for other financially disciplined opportunities to add value

* Thank you the Havieron funding update was announced at the end of May and as previously discussed in our recent Q&A we've listed support from the bank's confirming support and enhanced the company's flexibility, am I right in saying that this saves the company from paying back the loan before we need to actually spend the money?
- yes so not quite the words paying back the loan but paying to have the loan in place
- so we were effectively left in a position where we had a choice whether we started paying fees on a loan that we weren't going to draw because fundamentally we felt we had to have the definitive feasibility study to draw that line
- because as we disclose I think it was one of the terms not that we had to have the definitive feasibility study in advance but it was ultimately a requirement of that loan
- so we felt for a facility that we weren't going to draw it was imprudent to start paying fees on it so what we like to think we've done by us committing to the banks and then to us with this letter of support is keeping in place but basically say yeah we will we will rejuvenate this at the right point in time

* Okay thank you lastly and delicately I guess Newcrest have surprised your shareholders with recent decisions of taking on the Juri joint venture and then choosing to really rehabilitate the project, does that now mean it's completed?
- oh no look Rehabilitation is just an ongoing part of operating in Australia so really whenever we leave a pad or finish with a hole we will do some Rehabilitation work
- I think that's really just saying that is the focus of activity this quarter is cleaning up the pads and the drill holes
- that is normal in the in the life cycle of exploration so we're kind of delighted that you know Newcrest has taken this on because you know we like to think this reflects an increased focus for them on Juri
-as it happens you know the Newmont takeover is perhaps you know distracting for their organization as a whole but also with us being maybe a little bit more focused on that you know doubling our footprint with the Rio Tinto exploration transaction to some extent Juri was unlikely to be a huge focus for us in the coming 12 months so we actually kind of see it as positive that Newcrest can walk that forward

* They've almost done you a favour by taking that on, which means both projects can sort of work but at the same time?
- yeah look and they have a big team active in the Paterson so I I think it's a good fit but we appreciated that when we were focused on it that they allowed us to be the manager even though they had the right to become to take that role
- so you know we think that did reflect a really good working relationship and a respectful relationship between the two exploration teams up there in the Paterson

* That makes sense thank you on the subject of Newcrest they seem to have forgotten about Havieron and in the recent quarterly update with barely any mentions at all, on a recently published site discussing growth options you've always been hesitant about discussing Newcrest but have they spoken to you at all about the plans they have for the next six months?
- our joint venture partner is Newmont in inside of six months so we really respect Newcrest and we really respect Newmont but it's likely I, I don't think there's a lot of planning at Newcrest right now around what they're doing in six month’s time
- and I and what I would say is there's a very clear and ongoing pathway at Greatland and indeed what was it was it two months ago now that we renewed the Byrnecut contract which was led by the Newcrest team
- so you know I think there is a very clear pathway as to what's happening at Havieron which is we're developing the asset, continuing to get the decline and intending to reach the top of ore body and start setting up the stoping platform
- so it is you know to some extent it's not quite set and forget because we should respect just the huge volume of work that's going on outside by a highly capable team
- and we appreciate and recognize what they do but I think from a corporate options point of view I think this one is well in hand for Newcrest
- you know it's there's a very clear path forward especially over the short term

* Okay, here's a question that you must get asked a lot how confident are you that we'll see an MRE update next month and has anyone suggested to GGP yet where the feasibility study falls operationally into plans given how mute Newcrest were in their own quarterly update this week?
- yeah I guess there's two parts to that question
- look with respect to the MRE yeah I think I'm on record as always saying our preference is to is to undertake the MRE updates in partnership with our joint venture partner presently Newcrest
- we know work is going on around that and indeed you know we're involved and engaged in that work with our own resource geologists
- so yeah look we don't know the mind of Newcrest but we do have some insights which we think are positive in terms of the activity being done then
- I think they have a resource update coming out in August we'd like to think that you know in our preference would be that Havieron is part of that
- if it wasn't though I think I've been you know I've said before as we did in March 2022 if it wasn't updated we would look to provide our own update to the market or although again just like we did in 20 March 2022 we would be measured and thoughtful about how we did that and we would have our numbers independently reviewed and verified before sharing them with the market and we would share them with our joint venture partner before releasing them
- so but people should be confident that the MRE we think is a of importance to our shareholders so we the management here is just as keen as shareholders are to see that in the market when ready
- in terms of the feasibility study I think it's probably fair to say that that's expected post the Newmont transaction of course
- there's no certainty that the Newmont transaction will happen but it seems highly likely to be the case so with that we think it's needed and expected in that early 2024
- would be delighted if we're surprised and it's earlier than that but that remains our expectation and we encourage Newmont to be definitive with the market
- but equally I think it's hard for them to be definitive at a point in time where they are trying to speculate in as to activity post a change in their ownership

* That makes sense, thank you and thank you Shaun for being a guest on our show, that brings me to the end of our conversation today, have you any last words for your shareholders?
- oh look just really appreciate the support we're here super keen and I'm particularly super keen to get back up to London and explain how we're going with the ASX process but equally hopefully people understand that it's premature to do that until it's been agreed and put in place
- so I'm the only Australian who's avoided going to London or England during the Ashes Series so terribly unfortunate for me but you know work is the first duty

* That's fair enough thank you, sadly that's the end of this webcast ladies and gents, if you want to reach out to us you can contact us on Twitter with the addresses on the screen and before you close this page I would be grateful for any thumbs UPS, until next time my name's Liam and you've been watching Aim on-Air, we're specializing in connecting companies with shareholders it’s what we do best, thank you.

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https://www.mediafire.com/file/jt6vy8nn ... 3.pdf/file