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And I hope you're right, napth. But if you aren't I won't be disappointed because I expect the actual gold, when all is said and done, to be twice or more what's in the MRE.
Tmt exactly and you dont know either non of us do but at a good guess frm the indications we are getting is its bigger that your estimate and another thing its never proven until its mined and processed so thats a bit of a daft thing to say really isnt it. But i tell you what we only have 2 ish months until we find out, so we can revisit this then
Well pointed out JoeBass
Just, FINALLY after months messing with my grand daughters junior isa transfer, it’s done.....Monday at 8 she will be A holder in ggp. Fill and forget. That’ll be shares that never see the light of day again.:-) As her first stocks and shares isa she can learn how to run it and invest so she doesn’t drop cods like her grandad!
"Gervaise Heddle -We are just scratching the surface.
David Lenigas - Once in a gereration find
Peter O'Connor - Shaping up to be a tier one asset
Sam Garratt - Havieron is a Telfer style deposit that has delivered circa 30 million ounces of gold."
And Joebass - Telfers big brother
Using very crude attempts at working out the volumes and a very low s.g. of only just over 2 to be cautious, I was also pessimistic with my dimensions, I was looking at around 7. Anything near this and MRE stands for My Retirement Enabler.
As Tmt says none of us are professionals although we have two qualified geologists on board.
So I'll take my cue from these professionals that are, or well advised by their geologists.
Gervaise Heddle -We are just scratching the surface.
David Lenigas - Once in a gereration find
Peter O'Connor - Shaping up to be a tier one asset
Sam Garratt - Havieron is a Telfer style deposit that has delivered circa 30 million ounces of gold.
That’s not strictly true though as resource estimates include inferred and indicated.
@napth
You talk of what we "know" but what we know is only estimates by non-professionals. And the MRE is going to be cautious based on drill results, not on any speculations. It's only going to include that which has been proved up, and proving up takes a lot of drilling.
One specific example, the northern breccia. Everyone knows it is there, everyone is pretty sure it's going to be economically viable to mine and worth a lot. But how many holes have they put in it? Just a few. So will it be included in the MRE? Not likely, they haven't proved it up.
What's the northern brecchia worth? Let's say it's 1 moz, just for discussion. That's 1 moz that isn't going to be in the MRE.
Our crescent, we are now told, is an oval. How wide is that sulphide zone at the northern end? No telling. Not enough drilling to say. Is it worth something? Sure. Will it be in the MRE? Probably not.
Or, if these things are in the MRE, the estimate for them is going to be very, very conservative, because they haven't been proved, we have no clue of extent, depth, etc. A lot of gold is not going to make it into the MRE, even though we "know" it is there. We do know -- but not how much.
What exactly do we know from RNSs regarding sizes.
The HGZ sulphide has clear dimension estimates and each level top, middle and lower have different dimensions and grades.
I've calculated numerous times and come to roughly the same figure of 2.4m oz
H&P got to 4.2m using a higher grade average and a higher specific gravity.
I've done the same with the Breccias surrounding the HGZ , allowing for the HGZ and the post mineral Dyke I have a total of 7.2m oz
The 300x300x100 = c1.75m oz
So what we know is about 11.35m oz
without the 1g/t breccias and Northern High grade sulphide.
and open at depth.
Talk of 6m is low
Talk of 30m is very high for gold on its own .
Talk of 15-20m possible
Talk of 20-30m including gold equivalents is possible
May I just remind that the MRE is not a figure calculated by NCM, or GGP.
It will be an independently calculated resource by the regulatory mining authority, but presumably using the drilling results notified by NCM / GGP.
Tig
A conservative 6-8 mil Oz’s is what I’d be satisfied with for the MRE. Anything larger than that and we’re looking at a 20mil Oz’s total from Hav (excluding copper of course).
Hey napthman,
How many grams in a troy ounce of gold ?
Taking my time I understand that you are trying to Manage expectations but months ago before the extra 8km of drilling was announces we knew there was 4.2 million ounces they keep stepping out. They will already be able to calculate the extra deposits found so 5-6 million is being a little over cautious and i think Newcrest will make them selfs look a bit daft if they came out with that, + they want the 5%, so if they dont come out with a realistic MRE we will bot sell them the 5%. But I completely understand that when we dream of 20-30 million ounces at tis stage is getting carried away but 6-10 million is not out of the question
Last messages we have guestimate of between 5 and 30m oz says it all really stick to officiall news only as the test is just some bodies guestimate inc my own sp 88p who knows I could be correct at some point. Refresh yourself with data presented via Newcrest and GGP it's all there in bla k and white
That’s a very fair point TMT . Ok as Mush has done maiden estimate and eventual estimate .
11 - but I think there’s more down there
Please, please everyone remember, the E in MRE stands for "Estimate" and the "M" for the first MRE stands for "Maiden". There will certainly be a lot of gold in the ground that is going to be mined which will not be reflected in this first MRE.
Hav might be 15 moz and the MRE might still only be 5-6.
Please do not hype the MRE and then have you and others discouraged when it doesn't come in that high. An MRE of 5 moz would be great -- it probably means that 10 moz or more is coming out of the ground eventually, and how many junior explorers have a resource like that?
I'm hoping for something over 6 moz for the MRE, but if it's only 4, it won't change anything at all. There still might be 15 moz or more. It's just an initial estimate.
I think this board is on track to do with the MRE what we did with GDXJ. Overhype it and then leave everyone discouraged when reality doesn't match the hype. We aren't likely to get a massive MRE and we don't need one.
30m oz eventually but for the purposes of the maiden resource estimate: 12m oz
Optimistic 12.5m Oz !
9m oz
7m oz
No explanation just a figure . What’s your MRE estimate everybody ?