The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Morning zoros. You said ‘accuracy of’, when I think you meant ‘accuracy within’. Small matter, no big deal.
Goodness me I have tonight agreed with a post from Merc.
Hi Jerry. I may have missed something here? I didn't mention 'within' or 'of'...??
Z
Zoros, re pfs and fs I think you mean ‘within’ the % not ‘of’ the %.
Small thing but otherwise the fs is less accurate than the pfs!
Nice work on the diary.
Thanks Z - appreciate your thoughts.
Redirons - it is my understanding that the PFS will 'prove' up the latest MRE(Indicated). IE:
Inferred becomes Indicated becomes proven. Even then, there is a precautionary note attached to all PFS's in that they only afford about a 20 - 30% accuracy wrt figures. Careful due dilligence is required by an independent company.
The FS (or bankable study) is the "Go/No Go" stage and affords accuracy of 10 -15%.
Given the last MRE before the PFS is only a matter of weeks, I suspect that what we receive in the last MRE(indicated) will be the source for all calculations in the PFS?
Best
Z
I know what I have forgotten - that we’re now in an accelerated drilling programme with 65,000 metres being drilled within 6 months - depends if the majority of those results will appear in the next MRE or not until the PFS - food for thought anyway!!!
Hi Texlax - if the next main SP re-rate is expected after the PFS (hopefully announced in Sept) and the next MRE is due in six weeks, then with the initial MRE announced last Dec we will be 7 months further on and with only 2 more months until the PFS - is it not reasonable to expect therefore that after our next MRE (where you say 7m will be reasonable) that our PFS would be doing well to exceed 10m?? My point is there seems less of a time gap between the next MRE and the PFS than there has been between the last MRE and the next MRE so doesn’t it make the next MRE even more indicative on what the likely PFS will be - or am I missing something?? Many thanks and good luck all.
Yep I have been 4440 ft underground and that was hot ! God knows what it would be like without ventilation !
I expect upgrade to be 6 to 6.5 m oz I expect mre to be 12 to 15 m oz but I expect over life Haverion to push 50 m oz. Life being 25 plus years tech develops we may even achieve more who knows Newcrest and GGP do not as yet. So let's take each stage, debate and move forward
I've only descended a gold mine once and all I can say it gets pretty warm down there. It was not the depths that GGP and NCM will be exploring.
In fairness to JoeBass, they did get a big hit at Scally.... unfortunately it was composed of the drill bit or bottom hole assembly ;)
"Did we not learn anything this year from the MRE. Talk of 10-15-20m oz MRE and it was 4m oz, and the sp drop reflected the disappointment."
MRE came in December and SP was a record high in January? I will take that if thats disappointment
An upgraded resource of up to 7m oz is reasonable. Talks of HAV containing 30m+ oz aueq of economic grades is just as reasonable.
Surely people aren’t expecting an updated MRE over 10m oz, or are they? Doesn’t matter, here for the end game (see 30m oz above, as conservative). Enjoy the ride.
Tymers is such a party pooper lol TBF the hype effect bit us in the backside with ScallyGate and created a villainous 007, Arnie resurrected like Jason Vorhees from Friday the 13th and JoeBass became Joe 'No Mas' Bass and many of us entered rehab ........ which is good practice because if some of these predictions come off - we'll be back in there after a few years of living it up lol
just counted 19 on my filter
who is 007 ....unless he is one of those many plo.kers who I filtered ages ago.
tig
Perchance to dream .. eh Tymers, I think most on here will know we are speculating rather out the box so to speak, but who knows not you or I .. it's a waiting game which can only get better IMHO !
Fair enough merc .. will hold you to the hat :-)
@ Jaguar7
Thanks! Many mines are now going deeper at lower cost, the technology is proving this further...By the time we actually start mining at Havieron, which will probably be a record in timing anyway, when we do, your quoted depths will probably be nothing out of the ordinary.
Every indication has been, for years, that Havieron is massively open at depth.
Excitement building expectation of at least 20 m oz on upgrade, could we really break 50 m oz? If so we are heading to £3.00 plus life changing sum!
Reality guys pumping ridiculous figures usualy does not end well. Let's stick with 12.5 to 15 m oz and we wont be disappointed. Do some ever learn?
I should have added, nothing wrong with dreaming big, i hope you are both right and i eat my hat : )
Sure Tig, but its only funny until we announce 15m oz (enough to warrant a 80p-£1 sp) but we retrace to 40p because everyone thinks everyone else was expecting more. Herd mentality 101. Perhaps find something less sensitive to joke about.... like 007’s latest accusations ; )
Dont wana be a party pooper, just very aware that numbers stay in people heads for a long time, and the less researched might not realise it was said in jest.
Just a bit of fun merc !
Here you go ..
AngloGold Ashanti’s Mponeng gold mine, located south-west of Johannesburg in South Africa, is currently the deepest mine in the world. The operating depth at Mponeng mine ranged from between 3.16km to 3.84km below the surface by the end of 2018. Ongoing expansions are expected to extend the operating depth further to 4.27km.