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Hi Green 73
With respect to your goodself, Paddy cannot forsee the future in connection with work not going to plan whilst undertaking monetary calculations.
Greeny - thanks for the praise but I'd rather not be associated with the "ridiculous ramping crew" and as for Sir Paddy - I don't think so, not being a British subject I don't think I'm eligible for a knighthood....
I am obviously very much pro-GGP but I do my best to present the facts - it may come across as rampy but I can assure you it's not meant to.
As for the funding of our exploration of Scallywag - Newcrest have spent US$20M on Havieron up to now including running up to 8 rigs, development of a permanent field camp, drilling well in excess of 50 holes so far and at depths up to 1,400m.
At Scallywag we will probably be running 1 drill rig (maybe 2), probably drilling to 600/700m depth, they drillers will have a caravan as their field camp and at a guess I'd say a maximum of 6-10 holes.
So lets say worst case scenario 10 holes at 700m - gives us 7,000m. The per metre cost for diamond drilling is between AUD$250 - $300 so again worst case scenario - 7,000 x $300 = $2,100,000 which is roughly £1M.
I think we have more than enough in the bank to cover the costs.
GLA - Paddy
From what I have read, Newcrest seem to know what they are doing with regard to running the camp and the drilling operation. They seem to have good screening processes, will have upped things like cleaning and checks on staff, and if a Covid-19 symptomatic person appears - I would say they will have already plans to quarantine and then evac the person.
They are also quite isolated in a barely populated area - which should help. No great threat to drilling programme I don't think.
Why would you care bettabuck you got no shares anyway like sxx
Hmmm
What a load of rubbish from you know who LOL :-))))) Surprised that he has not been banned again. I can tell its him as a red filter message has arrived directly after my post . What a Hoot.
100watts hi, what a laugh cheers mate dropped me poppadom :-))))))))))))))))) I shoudl stop laughing Weh hey, thanks for the fun..
ATB
Tom :-)
I remember that day very well when the HAD 005 results came in. DDH 1 was the company who started HAV - they might be doing the current drilling as well, or is it all in house? I would say either way they would be keen to get started once more at Scally - when time permits.
Thats the problem the light's not on and with my eyesight... Didnt realise its been that bad. Shoudl go to Specsavers but not sure I could find it.
Nice one desert -you have sparked my memory-did'nt we do a deal with the drillers for shares and part cash as you say which they accepted as they probably knew which option would end up paying the most !!
100watts, how did you buy the shares in the first place when you don’t even know the ticker? The 100watt light is on but.....
Greeny and MFU - there were two drilling campaigns with Hav at the start - the first one was for 4 holes and the second campaign for a further 10 holes . It was the second campaign which sparked the interest from Newcrest when HAD005 blew the doors off . That was paid for by part shares, part cash. 142k of cash and approx 11 million shares at the time, which was not a lot. After that campaign the farm in deal was formed. So I believe they have plenty in the bank to get some holes in and hopefully create more interest. With or without part payment of shares.
Quite right mfu. Ggp aren’t trying to replicate what NC are doing now at hav. They are trying to replicate what ggp did at hav at the start. Ie find something to warrant further drilling/farm out. I would thought mr green might have worked that out with all his experience.
Valley.
I’ve been in GCP since the 0 .5p days and even then was showing a significant loss. My thoughts at the time is GH sure has a good line in rhetoric and I can’t make up my mind if I’m being spun a line and he has no credibility. Anyway I did not sell up and have rode the tiger since including EG. I have to give GH his due on this one. They found exactly what the historic prospecting said they would find only GCP did not have to foot much of the bill. A free ride.
I agree we would not get anything from Newcrest for the other prospects should they take GCP over lock stock and should take the cash for Hav. What does concern me is what happens after the feasibility study as Newcrest are the only party who can take it to production and have GCP by the short & curlies – but I do not know how these things are done in mining circles. In GH we trust!
Valley, if and when NC make their play I think they will want the lot and as you say the difficulty will be pricing that up.
However, now they have delayed it will be unlikely they will have any meaningful results prior to the MRE. All they will have done is burn through the money.
In GH’s interview he says it’s to protect the aborigines but why then can NC Carry on. I just wonder if GH is playing for time.
Hi Greeny -you will be far more in the know about these things than me however we have around £6m in the Bank. When we did the initial drills for Hav I cannot recall us being in such a cash rich healthy position and we did what was needed to attract Newcrest so hopefully there is enough to get to the level we need to gain interest with a major again ...thoughts ? MFU
Chart, I would have expected all paperwork to be completed well before drilling season, which would have been before Xmas
Antigua
Interesting thoughts, I think that's just wishful thinking though.
Two points, first, we have NOOOOOOOOOOO idea what we have in Scallywag or PRE or our other properties, so a buy out would make no sense to us. Although Newcrest may want all our properties for the price of Hav, they wont give us anymore than that.
Secondly, GH has a history of faffing about drilling and delaying...those who have been here 3 years may remb the delays with BH and faffing around EG.
The programme for Scally should of been released way before now....he's faffing again, no idea why, we should have millions in the bank.
He's got history...
Sorry you feel like that greeny but you said drilling had been delayed because we didn't have the funds to carry out out
I thought you said it was an April Fools joke?
Jeez mate did you bother to read what he said. You cant do heritage surveys in WA because the local aboriginals aren't carrying them out.
end of story mate
Cheers
CB
Can’t help being surprised that the delay was buried in todays news. Although I understand the reasoning I still think it is strange given that location is remote and only involves small crews.
I also think they have been non committal in revealing their drill program prior to this.
I have a niggling feeling that Gh has delayed drilling and is using the virus. It’s entirely possible that Ggp and Newcrest are talking behind the scenes about a buyout. This would then make sense as to why they are delaying the drilling of Scally. They could well be stalling in order to get to the MRE.
I know this will be considered a conspiracy theory but feel it’s worth further discussion.