The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Gee, Paul1Deano, thanks ; ) (wink)
A girl who can talk about mining results with a nice happy smile is my kinda girl, what a babe!
For me, there were a lot of amazing statements made by GH, but this has to be one of the most outstanding.
"we have now seen mineralisation sitting outside of that egg shape to the North West, the East and the South East, which for all of us is really raising some questions about our understanding of the potential limits of this system and where does this system go next."
Where does this system go next? I think these plots of land have far more yet to uncover then anyone has dreamed of.
ATB
The interview was very interesting in that the MRE seems to now be just for part of the resource. The schedule/agreement with NC provides for a further share of Havieron being purchased at 'fair vale'. I just feel that there has already been talk of what that might be and GH has said clearly just a chunk of Havieron is worth 25p, if you want the lot you need to pay top dollar! Put up the cash NC or we carry on growing this asset to an amazing size!
In the interview and RNS, GH is very clearly warning that the initial MRE isn’t going to be a big number, to manage expectations and perhaps avoid a sell off post MRE.
The potential at Hav looks to be massive and these results only reinforce to me, that the best logic is to sit on hands (as Paddy would say) and let this play out till the end, whatever outcome that may be. IMO
That’s what I picked up on too Dodge and commented on . It’s so big it’s 4 not 1 . Add that to what’s being said about the MRE being SE focussed by all parties now and there are some very clear clues there as to where this is going to go .
Mickey may be known as the deramper this time next year
There might well be some misunderstanding from retail investors but the II’s will be fully aware it will only be the start.
GH stating that it’s possible that we’ll have to start reporting results for each zone separately! Wow! Effectively treating HAV as four independent discoveries!
That’s what you call news rich.
Yes, TT. Well said. But let's revisit this in a year's time... (big grin) for which I will still be here.
SoS
I totally agree with the earlier posts about management of expectations for the MRE. Knowing GH's PR style over the years, as many of us do, I don't think it could be much clearer, IMHO.
Indeed, he may already have been given an 'indication' of what it's likely to be. Only time will tell...
I'm pretty sure that some people may well be disappointed if they don't understand & appreciate how the MRE is quantified (ie. INITIAL resource). TT
Great to see you back posting Reddirt! Get the feeling we are only just getting started! Well done mate
Interview: Next steps for GGP.
GH: Well, look, it’s a very exciting year ahead for us. Obviously there’s a lot to do on the exploration side but also in terms of the early works and the other mine planning work and the studies that need to be done, I think it’s just still fascinating from an exploration perspective to be into the project 18 months with all the drilling that’s been done, very intensive drilling, and to still be open to the North West, the North East and at depth, to still be finding new zones of breccia mineralisation, I mean, it’s quite remarkable and we’re all really looking forward to the next few months, the next 12 months brings.
Interview ends.
GH's full interview.
GH: It’s an amazing set of results. We all had to just stop for a moment and take a breath when we saw them cos you don’t very often see results like this and some of the information that’s come about about the project in this set of results. I think firstly obviously one of the key highlights is that we’ve seen the best intercept to date at the project which is at 65W2 which is 120.7m @9.3 g/t which is just amazing, it’s over a 1,000 gold gram metres, but also it highlights the real potential for high grade gold at depth which is, you know, very exciting that we can still be getting those sort of grades down at 1,350 metres. It’s really quite something.
But I think more excitingly is the identification of this new target area, the Eastern Breccia. It was intercepted by two holes, significant widths of mineralisation. Both those holes in particular had a fall (?) which saw a rather astonishing 342m @ 2g/t gold which is also quite extraordinary, but what I think is fascinating about this new Eastern breccia target is that this is potentially a whole new significant breccia zone that sits outside the egg-shaped crescent sulphide zone that had been identified and we fact we have now seen mineralisation sitting outside of that egg shape to the North West, the East and the South East, which for all of us is really raising some questions about our understanding of the potential limits of this system and where does this system go next. It’s really fascinating.
…
Interviewer: Four zones; South East Crescent and Breccia, North West Crescent, Northern Breccia and Eastern Breccia.
GH: That’s right, there are four zones now, and it’s getting to the point we’ve got to almost do updates on each of the four because there are so many moving pieces, which is great. Now, naturally the initial inferred mineral resource which is due by the end of this year, that’s going to be focussed on the area where we’ve had the greatest drill density which is clearly in the south east crescent and breccia, so that’s where you’re going to see most of the initial resource focussed on that but look, for the next twelve months the intention is to move rapidly, drilling through those other three areas we mentioned, the North West Crescent, the Northern Breccia and the Eastern Breccia to try and convert the other areas also into mineral resources, so this is very much an ongoing project in terms of the resource estimation process, and I’d just remind people that that initial resource is exactly that – it’s an initial resource.
Cont/..
More great news for GGp investors. Just the beginning of a very big run me thinks.
GLA LTH Reddirt :)
Very pleased with the latest update....again. I think GH is trying to tell everyone in that interview not to expect a huge number when the MRE comes out but give it another year or more and updates to the MRE will be more realistic, ie, big! I think people may be disappointed by the MRE, but not if you are looking long term. It’s just the next step in a longer journey. Hold and add on the dips IMO. Ignore the virus noise in the markets in the short term.
This confirms the MRE will be SE focussed . Also heavy heavy clue in the comment where GH stresses it’s an initial estimate only . He also makes the point there should now almost be 4 updates one for each part of Havieron (words to that effect ). It’s Havieron focussed and clearly Havieron is huge and has just got bigger in a way that seems to have surprised them all . Still quiet on Scally though !
Agreed.
It seems strange to see the drop in Newcrest overnight also... or am I missing something.
MRE in December will have a great chance of much further upside!
IMO GH gives impression that he wants to manage expectations of the MRE as it will focus only on the SE Crescent and Breccia
He’s as excited as he can get and he can show ! What an endorsement!
Great interview with GH - seems to be genuinely surprised about the results himself last night. I think he's struggling to take it all in like ourselves - lets see what the market makes of it all.
Hands under bum - Paddy
Stopping to take a breath !! What more do we need to know than that phrase ?
Heddle describes his first reaction to the results, needing to 'stop for a moment and take a breath', with the new Eastern Breccia target and the best intercept to date, 120.7m @ 9.3g/t Au.