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paddy, she's a lunatic and done zero research.
there is over 150moz down there minimum.....lol
I agree with Paddy's thoughts and I've responded to them briefly in the comments but will send them a private email tonight.
Hopefully they'll update with something that is a little less misleading.
1plus1 - great stuff from you mate and she has just responded to a couple of your points in the comments section but again I think she has got it wrong on both points.
Talking about discussing the sale of Havieron to Newcrest she states 'During the farm-in period, Newcrest will have a first right of refusal over the remainder of Greatland Gold’s Paterson projects (Black Hills, Paterson Range East and remainder of the Havieron licence)." So clearly the two companies have discussed selling the majority of Greatland's stake in the JV.'
Wrong - the remainder of Havieron that is referred to is the remainder of the license, not the 12 blocks that are part of the farm-in. It also only becomes a JV if it proceeds to the toll treating phase.
Second she says that you shouldn't rely on Cadia and goes on to say that perhaps Telfer would be a better comparison - fine Telfer is currently breaking even (maybe making a small profit) treating head grades of 0.7 g/t.
ATB - Paddy
And fair play to you 1plus1 great effort and result.
Great response
I wish I was as articulate as mine contained too many fffs
Quick update - Armchair Trader have responded publicly in their comments section, contacted the author and will amend the article. Fair play to them. Let's see what they say.
1plus1
Good work mate. :-))))
I reposted my comment in chunks, leaving out the reference to the author, and they've allowed them to stay (so far). The quality of the article really irritated me because the author claims to be some award winning journalist and industry specialist, which is an appalling reflection on her work capabilities. As I've got time on my hands, I've sent a complaint to the website, with a cc to AIM Regulation, pointing out they are not adequately disclaiming the article as a non-factual opinion piece. I've asked them to remove the article or correct it. That's all from me. I'll let the knowledgable ones take back over. Thanks again to Paddy et al.
1plus1
I think that they may have reconsidered after your query as to why it was deleted.
I've just gone in and your comments they are still there! :-)
someone else put one up also.....lol
Hi 1+1,
Perfect response to a badly researched and written article - ATB Paddy
Hi 1plus1. Excellent counter to a poorly researched article, well done. ATB Speedy
Was just about to trash the article but well done 1plus1, you saved me a job. It is simply clickbait and very poor clickbait at that!
I wouldn't even name it trash!
Yes, poorly researched nonsense.
In short.. The entire article is complete trash.
I posted the following comment on to The Armchair Trader website and the site deleted the comment!
Hello Vanya, I read your article with interest as an investor in Greatland Gold. As an "award-winning financial journalist", presumably you would be amenable to revising your article to take account of factual inaccuracies in your original piece? For example:
1) "it is already considering selling its stake to Newcrest". This is not correct. There has been no public release or comment by the Greatland management that it is considering selling its stake to Newcrest, nor has Newcrest suggested that it will buy out Greatland's stake.
2) "Telfer itself doesn’t refine its gold on the site but only roughly processes its raw material into a far cheaper substance, a gold-copper concentrate". This is not correct. Telfer produces gold doré which is refined by the Perth Mint. The value received will be spot price, less a small margin for the refiner. A secondary output is the concentrate, which is exported.
3) "Newcrest recently conducted two drills on the site and was sufficiently enthusiastic about the results to initiate two more and then another two exploratory drills.". This is not correct. Newcrest has been publishing results twice every quarter, and presently has eight drill rigs operating on site continuously.
4) "to build a deep mine the ore needs to exceed 2.5g of gold per tonne of raw material". This is not correct. Current block-cave mining techniques can profitably mine much lower grades. For example, Newcrest's Cadia East underground mine with mineral resource 700m to 1,500m below the surface, with blended average resource around 0.40g/t Au and 0.26% Cu, operated with AISC ov
6) "The mine is still relatively far away from any export infrastructure and the end product will be the relatively cheap gold-copper concentrate". The Havieron site is just 40km from Telfer infrastructure, which has it's own landing strip - product can be very easily exported. As previously mentioned, the article erroneously overlooks the gold doré produced by Telfer and sold to the Perth Mint - the value received will be within just a percent or two of spot values.
Anyone care to comment on this?
https://www.thearmchairtrader.com/greatland-gold-shares/