George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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They have all the way through this process. May all our dreams come true!
Newcrest are doing an absolute flyer on the Havieron project , Looks like the MRE may come a lot quicker than many think, my call is middle of September latest .
I suspect that this position will be having input into the pre-feasibility study and then in stage 4, the feasibility study so the costs of recruitment and employment would be part of the $25M and $20M which NCM are to spend on stages 3 and 4.
We could assume that Newcrest have sight of data to conclude that they have sufficient evidence of a viable mining project . Enough evidence to commit the funding and recruit and employ staff.
The reward is far greater than the perceived risk.
The hire is all preparatory planning in the event of....and can be easily reversed in the event of....
Prudent business planning by Newcrest
What this does mean however is that NCM is now in the process of getting to the mine/no mine decision and are starting to commit funds to the process. Not sure whether these costs would be part of the $65M which they are commited to spend as their commitment to JV.
I think that is just wording and ise exploration as it has not officially been announced, but you only spend money on a decline if you're going to mine and use that decline surely
Schlemiel - Without all the MRE and Feasibility Studies completed, I'm guessing that the "formal" decision to mine has not been taken, therefore, no need to make any announcement. However, informally, NCM are pretty certain that they will be mining and so are in the process of putting that plan into action and will be recruiting the staff to get involved in the planning process as the evidence from the current drilling provides clues as to where they would site the decline etc. Once all the phases (MRE, PFS) have been complete and NCM review the available evidence, they will have some form of (significant) governance process to "formally" decide to mine and commit significant company funds. Should that governance process determine not to mine, NCM will just undo the hirings and let people go - pennies to them. Hiring at this point means that they compress timescales by not taking actions consecutively but by doing them concurrently. The member of staff that they are recruiting has plenty on his plate before he starts commiting large amounts of NCM funds and commencing the physical digging of the decline and he will likely have a part to play in the governance process - to mine or not. I suspect that we will see plenty of other signals over the coming months that NCM are going to mine, ahead of their formal decision to mine. They're simply trying to minimise the time from flash to bang when they do decide to pull the pin.
Don’t get too excited guys. Lots of JORC regulatory work to do before we get to mining stage. A good signal however that Newcrest are in line with their business plan. Bodes well for the next drill results.
Closing date for applications 23/7, next update 23/7 interesting
Have to disagree, I don't believe the decision to mine has been confirmed by this job advert.
The advert clearly states, Twice, Exploration Decline.
" . . . to safely and efficiently deliver the Exploration Decline to meet the requirements of the Havieron business plan."
And:
"Managing the construction and execution of the greenfields Boxcut and Exploration Decline"
Also included: "Developing underground mining team" - Developing the team not the mine.
and: "Managing the surface infrastructure and mine development camp" - again not mining, the mining devlopment camp.
In my view of course
Boom i hadnt see this. Great spot schlemiel
Managing the tender process including development of tender documentation, evaluation
Awarding the contracts
Developing underground mining team
Managing the construction and execution of the greenfields Boxcut and Exploration Decline
Managing the surface infrastructure and mine development camp
Delivering the project on time, within budget, and as per technical specificatio
The early works Manager?
Ooow ive just got even more excited :)
It hasn't yet been formally announced but the decision to mine Havieron has surely been (inadvertently) confirmed by today's job advert from Newcrest. The decision to mine is surely a price sensitive company event demanding a company announcement. That's why I was surprised to see this job being publicly advertised. Surely Newcrest is aware that there are people like me and others who spend our days scouring the net for vital pieces of information to square the circle
Not so sure about gold, but with oil exploration, companies tend to advertise externally for expats. The pool of people who fit the cv is quite small. The more specific or higher up the post, the more the company will have a specific person in mind - usually someone known to them. To avoid 'unpleasantness' they make the preferred person aware of the vacancy (usually lunch off-site) and 'suggest' they apply for it. In oil, they need not to be seen 'poaching'.
If you're holding a substantial line of stock (1m+) an intra-day1% rise in absolute 'cash' (paper profit) terms is HUGE relative to what an average paid employee gets paid in a day.
@FenixDor - “Today’s hysteria which fizzled to nothing”
Nothing being the company’s historical high?
Get with the programme luv x
Talkngmytime
Exactly :)
I ain't got no quarrel with the 1.44% rise....
I for one am pleased with this little fizzle, carry on with this rise every day will do me!! G.L.A.
@hopefullygold count me in ....nice pint and location at the brewery tap it used to be called Royal Standard when I was a lad
@napth
"The simple answer is no. There is no legal obligation to advertise jobs internally or externally."
Exactly. If not advertised internally you run serious risk of a discrimination tribunal from a disgruntled employee who wanted the job. But it's not legally required. The result, effectively, is that HR always says to advertise internally.
Many jobs are never advertised externally. Companies promote from within without ever advertising externally, happens all the time.
Chances are NCM already posted it internally.
Ok it's in my dreams until it becomes reality at until SP reaches 19.2p in my situation only my fellow holders. I feel that my contribution to this board is one of levity, to brighten up the day when things are not as what we all would expect. This board has all the technocrats, diplomats, realists, optimists, pessimists that allow us all to function in the common goal of making money and becoming wealthy and achieving our own personal goals , whatever they may be,...oh dear another schooner of sherry is required.
GLA
@quitefrankly. @ Farmer 1982 How about the brewery tap towards the end of the year? May have a mre relelase by then.
The simple answer is no. There is no legal obligation to advertise jobs internally or externally. But employers and managers must pay attention to any collective agreements to see if they specify whether roles need to be advertised internally first before resorting to external methods
And trust me if they dont do internally they can have a tribunal on their desk even there is no law, but the deco dont need to advertise externally