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Also Shuan has stated repeatedly now that a purpose of the PFS is to support the 'fast start' such as the decline as they need to justify the expenditure and confidence shown in doing so, go back and watch the latest interviews and observations made in regards to the purposes of the 'graduating studies'. It really has been a wealth of information of late culminating in the bonus that is confirmation of new targets etc. :-))
Absolutely Lenz !
It will be very interesting to see what the AISC is going to be estimated at !
The MRE is very useful, but not the thing to focus on atm.
The PFS is the next big thing IMO. It gives the market a roadmap to production. It should tell us the how, why, when and costs for this mine and when cashflow should start.
This is the piece of the puzzle that allows the decision to mine to be firmed up, and allows institution investors to make their decisions allowing them to point to the PFS as justification (plus their add on forecasts etc).
Further MRE updates post PFS will serve to increase the size and the life of mine metrics. Prior to PFS will not add much other than the comfort blanket of X.XXmoz!
Remember the PFS is a lot more about the mining method, AISC, metallurgy studies, environmental studies, etc, etc than having an MRE upgrade although one would be most welcome.
GLA Paddy
when is the interview out? uk time? please :)
https://twitter.com/mj_wash/status/1422794661429612557/photo/1
Thanks TT and Paddy for the confirmation.
Blantyre - seems only reasonable to me to increase it in the PFS. 5Moz is about right I guess. After all, we have hit some cracking intercepts since the MRE. I appreciate SD is erring on the side of caution and can sort of understand his reasons for doing so at this time.
Thanks Greggie
Greggie, it would be great to see it getting over the 5moz, but gonna have to wait and see if they do increase it along with PFS.
GLA
Just for information, in the podcast SD did on the 27th July he stated that the updated JORC resource on Havieron would be, "Very early in December".
Pre Feasability Study
PFS ??
Agree Paddy.
The key for me is to shift from expecting each update to be new news and to listen hard as there are plenty of gems in the language used re how to mine rather than if to mine/ progress on metallurgy studies confirming “sweet feed” for Telfer and ESG work highlighting v low Carbon mine ….
I agree Blantyre boy. I believe the MRE has always been targeted for update in December 21. I wonder how much the PFS will reflect the increase in resource if issued in September. Presumably it will be in excess of the 4.2Moz equiv to reflect the drilling completed and assayed since December 20?
PFS will be based on the current MRE shell with an upgrade of the MRE from inferred to indicated - hopefully this will be upgraded as the infill drilling seemed to expand the area.
The overall updated MRE will come in December as advised by Shaun on a couple of occasions now
I can't see there being any delay to the PFS as they need to get it out there to keep progress on track.
GLA
Nice confident presentation by Shaun, much improved performance and definitely growing into the role.
Sounds like they are all over the metallurgy aspect and understand the changes that will be needed to be made at Telfer already to handle the Havieron ore efficiently.
Roll on the PFS - Paddy
Confirmed resource upgrade end of the year
Did I hear Shaun state that the update to the 4.2Moz equivalent in place would be at the end of the calendar year. Does that infer that the PFS is delayed? Hope I am wrong?
Havieron:
"A beast of an ore body"
Initial Inferred Mineral Resource is "Very much initial"
"Prime time is ahead"
"Havieron is in growth phase...Every day better understanding of the ore body"
confirmed world class asset
low capex
turning from explorer to underground miner
tremendous relationship with NCM
globally unique
brownfield development
intrusive sub-vertical ore body
650m strike length
181,000m drilled
4.2moz....very much initial resource
significant finds outside the main resource
still in growth phase
SE crescent zone...very high grade
NW corridor...targeting high grade aspects to join intercepts
exciting intercepts outside structure...3 assay avg 200m @2g eqv
trying to unlock eastern breccia
NW patterson trend
Scally drilling Q2
8500oz per vertical meter in the resource
over 650m width allows efficient underground development
bit about ESG
emphasise its a Gold and Copper mine
touches on EV and copper
life of mine for copper
leverage telfer for low capex
deliver on time & budget
continue to invest
I knew that the 15mins allocated was going to be too short for Shaun to say much.
Greatland Gold - Shaun Day, CEO, will be speaking at 6:30 AM (UK TIME) today.
You can register for the Live Stream here:
https://www.diggersndealers.com.au/