The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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And there we have another one. This one from Arnie. How on earth can you compare a mining company with a construction company. Their operations are so incredibly different. As is their supply chain by the way.
Good grieve, the nonsense people keep posting on here.
MS
Schlemiel. I don't doubt that everything that can be done will be done to try and prevent Covid impacting on Haverion and Telfer and given the geography and travel constraints they stand a better chance than most of ensuring production and exploration activities continue.
To lift a quote from your post:
"It's in our best interests to stay in production, and that will only happen if there are no breakouts of COVID-19 in our industry," WA Chamber of Mining and Energy CEO Paul Everingham said.
There is an IF in there and I would challenge anyone to say with 100% certainty that the IF can be removed from the equation. The point of my post was to raise the possibility that Covid could impact but also should that eventuality come to pass, then investors should not panic if it shifts the timeline.
As for speculation - isn't that the primary function of this BB?
Your post gives context and underlines the determination of the WA Government and mining sector to continue. Thanks for sharing.
ATB
https://www.seek.com.au/drill-rig-fitter-jobs?sortmode=ListedDate
drilling companies still advertising for drillers and other tasks for WA located assets
Instead of speculating maybe it would be instructive if we focused on the facts - Google (even if it's been politicised) and other search engines are a well of information - the importance of mining to the WA economy and the WA government is fundamental
https://www.abc.net.au/news/2020-03-27/coronavirus-mining-and-resources-new-procedures/12062380
excerpt -
The resources and energy sector employs about 120,000 workers in Western Australia alone, while the NSW mining workforce includes 40,000 workers.
In a video message to shareholders on Tuesday, BHP CEO Mike Henry said he had spoken with senior government officials, who "talked about the importance of keeping the resources industry operating".
State and Federal resources minsters agreed on Tuesday the resources sector is "essential in maintaining a strong Australian economy".
"It's in our best interests to stay in production, and that will only happen if there are no breakouts of COVID-19 in our industry," WA Chamber of Mining and Energy CEO Paul Everingham said.
"We're working our arses off to keep people healthy and safe."
After initial confusion, this week there is more clarity about interstate travel for workers.
Interstate FIFO work under COVID-19
Western Australia, South Australia, Tasmania and the Northern Territory have effectively shut their borders, requiring anyone visiting to undertake a 14-day period of self-quarantine.
In Western Australia, workers in the energy and resources sector are exempt from these isolation periods.
This was confirmed by WA Premier Mark McGowan on Sunday and the WA Chamber of Mines and Energy added that only 2,500 "critical" interstate workers were flying into WA during this time.
"Mining, oil and gas are critical, both to keeping the lights on in WA and also to keep revenue coming in for Government," Mr Everingham said on Sunday.
cont..............
Hi Tom. To be honest I really try to avoid speculating on price movements in the short term at the best of times as the SP does not follow logic as we all know. These are far from the best of times and there are so many external market variables that can amplify positive or negative movements at the moment.
I am not a trader and therefore I simply look to the future and my belief is that cash is king / money talks and all those other sayings....and when, not if, Newcrest makes an offer for Haverion, it will be then that we will see a rerate like nothing seen before with this stock. I have no need to release cash from my investment and happy to wait as long as it takes.
Sorry for the long winded 'I don't know' answer!
ATB
I am one of GGP's biggest advocates - have been for some time now as my posting history will testify. I am coming to terms with the possibility that there might be set backs and delays as a result of Covid-19 with exploration at Haverion. I understand that we have a flying/out site and staff willing to stay on site and test as people come in. But frankly this Covid virus is a bugger and seemingly all pervasive. So I have come to accept that as with most over parts of the world, it will impact on Haverion. That acceptance doesn't create panic or alarm - it just means that timelines will probably need to be adjusted at some point and if the MRE is established at Q1 2021 as opposed to sometime in 2020 so be it. I have waited this long - what is another 3 to 6 months? Nothing! The end result will be the same and gold price likely to be higher.
I am trying to be realistic here and manage my own expectations - if anything my end game scenario is better than it ever has been - I am just managing my own time line expectations. You might want to consider that in your strategy. Anyone with a plan worth their salt reacts and adopts to the scenario in front of them and doesn't lament what might have been - that is a waste of time and energy.
In short - do not be afraid if the plan changes over the coming months for timescales - it's okay - it will be okay - ultimately a whole lot better okay compared to most in GGP's case!!
Be kind to each other and god bless the staff within the NHS and healthcare services around the world!