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Trader - Why did you add these comments to this thread.
"Another poster mentioned ASIC for companies like Newcrest, Newmount being higher. This is true as these companies have higher operating costs. It is why they need projects with larger ROI. Newcrest, Newmount can borrow larger amounts and at lower interest rates than the likes of GGP. They can afford to buy the larger mines with a greater ROI. The aquifer needs to be resolved. Costing time and money."
The RIO costs will mean Newcrest will have to give Telfer away plus a bond towards the closing fees. Telfer is basically worthless. From a GGP perspective closing Telfer can be done over a longer duration. Periods when production is shutdown for breakdown or other issues staff can be reassigned to Telfer reinstatement. I am guessing that GGP can charge a common fund set up to fund the reinstatement of Telfer. Another poster mentioned ASIC for companies like Newcrest, Newmount being higher. This is true as these companies have higher operating costs. It is why they need projects with larger ROI. Newcrest, Newmount can borrow larger amounts and at lower interest rates than the likes of GGP. They can afford to buy the larger mines with a greater ROI. The aquifer needs to be resolved. Costing time and money.
Closure cost estimate
An independent specialist consultant was commissioned by Newcrest to develop a 2022 closure
cost estimate. The estimate was for a combined Telfer-Havieron closure for Telfer LOM and
Havieron (100%) of A$478.1M including contingency. The cost estimates were prepared in
accordance with the global good practice standards defined in the International Council of Mining
and Metals (2019).
3.8.8 Conclusions
Based on the information provided by Newcrest, it appears that all relevant approvals required
to be gained for the Telfer-Havieron Amended Proposal, have been identified. This includes
recent referrals to State and Commonwealth regulatory bodies. The extent and content of any
conditions set if approval is granted is unknown at this stage, and closure costing estimates have
been made with certain assumptions that may also be affected by conditions of approval.
Closure costs blowout to an estimated $850m AUS could be seen as a test case for other large mine closures in WA in the modern era.
https://thewest.com.au/business/mining/rio-tinto-steadfast-on-aboriginal-ties-as-argyle-diamond-mine-closure-costs-balloon-nearly-50-per-cent--c-14290756#:~:text=When%20Argyle%20was%20switched%20off,the%20end%20of%20last%20year.
Tig
I think you’re a year too soon .
My current view based on Shaun’s last statement is bottom of decline by year end . Then 3 quarters (9 months ) of mine development . Takes us to q3 2025 . Chuck in a couple of delays with weather and unexpected development problems takes us to Q1 2026 .
Could well be first ore from development drives mid 2025 to test the plant and do a fine tune but won’t be anything in the 10’s of thousands of ounces .
Really hope it’s you right and not me but have been disappointed too many times to think it will be sooner .
Absolutely agree with you Tig. I've held and continued to increase as and when. I do believe Lassonde will apply, but for it to do so fully we must get the right deal on Telfer. If there is another tailing dam issue (as rumoured but yet to be confirmed - so treat with caution) then it is a salient reminder to the negotiation team to use leverage on the need to veer towards belt and braces view on any liabilities. I believe the upswing in SP towards production from Hav will more than mitigate against any temporary blips further along the road. Along with the tighter margins we may be able to utilise in the Telfer mine, the pathway to new income streams for the processing side of things will hopefully develop as tenements in close proximity come on stream making GGP the dominant player in the region.
Thank you Tiggerman - this is the Tiggerman I like best. Seeking out the positives, explaining why you’re invested and NOT sending out dubiously worded emails. As a Lther like you, I know how frustrating it has been to see the SP on a constant downward trend, but your latest summary reassures me that Lthers will have the last laugh, so good luck to you and good luck to all true Greatlanders.
PS Hope you don’t mind but I brought you out of my greenbin ages ago, as whilst we have had our disagreements in the past, I’ve always respected you for being a Lther - it takes big cahoonas!!
Agreed tig
Like you a long time holder , bought first at around 2p, sold a large number in the 30,s but still a large holding some 200,000 shares and waiting for the recovery, I like your 30p forecast ,that would do me fine.
It looks like the end is close for decisions on decline latest assuming they are through lower aquifer.
Gold early 2025 looking very good indeed.
Chris
Tigg hey,
Great post, best that has been on here for weeks even longer well said that man.
Cheers and hope you are keeping well.
All the very best.
Tom 👍👍👍👍👍👍
I think you summarise what all us lth are here for and hope to start to see so I'd say you're in the groove alright !
The future of GGP
I have been a GGP shareholder for as long as I can remember. SP wise it has moved nowhere , but, I am a devout student follower of the Lassonde Curve , and it seems to me that GGP / Havieron is a model share prospect that is sticking more or less to the Lassonde doctrine.
In the distant past , the SP shot up to 30 p ish and then dropped right back down to where it now remains. But the beginning of the end , or is it the end of the beginning . is hoving into view. All things should be in place by end of 2024 when 1st ore occurs
The decline is near to hitting the top of the ore body, and ventilation shafts are also near completion.
The feasibility study is approaching completion, and we should have a Decision To Mine sometime in Q3 . First Ore by Xmas and then Revenues in Q1 2025. So Things is not far off and the next few months should see ( according to Monsieur Lassonde ) a sharp / steady rise in SP back up to 30p plus by Xmas.
A move to the ASX is in prospect , and the Telfer development is looking certain. And best of all the POG is performing beyond all expectation.
And not to mention any of the other GGP prospects starting to blossom.
This is all my hoped for , fact supported , drawing closer , view of the next few months. Am I in the right groove ????.
Tig
That is just me know your location, not others, if you care to tell, and it will help with other meets if this goes OK
I note some other standout comments Shinybits has previously made.
“I’m being careful to only comment what is publically(sic) available information,”
“Not able to say more.”
Lol.The old ones are the old ones.
POG is sending a big message ....
https://www.ft.com/content/bdcb7d8a-e958-4910-9d1b-a6a519812503
So according to shinybits over on ggp chat , telfer is once again shut down , what will this mean for any negotiations??
Any good rise and the trend could change.
Chart with comment ....https://uk.advfn.com/p.php?pid=chartscreenshot&u=tchCKDEOgUjz1UB5c86rvvAGsktgZnijwmHG05tR08M=
Hey, Greatlanders, on May 11 there will be the first Midlands meet, @ lunch time if interested please email ggpmidsmeets@gmail.com venue depends on numbers location will be somewhere near
M1 J24, A50 ,A42 junction, easy for A38 from south.
If it goes ok then others may be at different locations, and times, do happy to have names if you are interested in others knowing your location etc would help in deciding next meet.
I think the next target is $3000 usd ...Once we hit $2500 . Lots of Chinese buying .
https://oilprice.com/Metals/Gold/Is-Gold-Heading-to-3000.html
Israel is likely to respond, and the PoG is likely to keep rising, but doesn't Tel Megiddo play a large part in the End of Days?
Looking like Israel are going to respond.. gold to the moon.
Thanks Magic that article does sound like EG
“ Banded iron formation-hosted gold deposits are attractive targets thanks to their potential for large, district-scale gold mining.”
Meadows could be 5km long and may stretch to 9km or more.
https://polaris.brighterir.com/public/greatland_gold/news/rns/story/x2vkg6w
The blue lines in a NW-SE trend is the banded iron formation with granotoids following it.
How they describe what’s there is very interesting :-
“Drilling confirmed that gold anomalism is hosted within altered basalts, banded iron formation (BIF) and syenite (Figure 1). The mineralised zone of 8m @ 0.12g/t Au from 316m in EGD006 is associated with thin quartz - carbonate veinlets in silica-sericite-chlorite and albite alteration in the basalt host (Figure 2). Hematite alteration was also observed. The syenite intersected in EGD005 shows gold is associated with disseminated pyrite with silica-sericite, albite and hematite alteration and quartz-carbonate veining.
”
“ The results indicate an encouraging broad, weak (Au-Ag-Cu-Zn) mineralisation. This could be the edge of a larger system. The anomalism is geologically controlled by generally east-dipping vein sets and vein-associated alteration. A correlation was noted between the weak gold-silver mineralised intercepts, geochemically anomalous, low order bismuth (Bi) values and the chlorite-carbonate alteration zones. The peak Cu value of 1,178ppm from 390.2m in EGD006 was in a highly sulphidic altered BIF unit. These associations can be used to better target further drilling.”
All looking very interesting.
Hi Bamps
Banded iron formations (BIF) are found throughout Australia's Archaean rocks and make up many of the greenstone belts stratigraphy and can form part of the stratigraphy for both orogenic gold and volcanic massive sulphide deposits. It's not impossible the BIF's themselves host gold. There's a good article here that explains that and highlights where that can happen.
https://investingnews.com/innspired/guyana-goldstrike-gold-deposits-make-for-attractive-exploration-targets/
In a couple of other journal papers, I've read about how banded iron formations are more common in the Eastern part of the Yilgarn with some being the primary host rock. In other areas, they can play a role in the ore forming process but not necessarily host the gold itself. You'd rather a BIF be present than not be present I think so the identification at Meadows is a positive sign. How significant will depend upon its timing relative to any Au bearing intervals as to whether it has any relevance to the mineralisation at all.
Yes MH01, sorry for the delay. DM
I heard a question at the TH asked about if Telfer would still be open as a mine in 2030 and he said yes but only 2-3m tons from the underground .
Hi Magic have you thoughts on the significance of the banded iron they’ve found on the west target of Meadows