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Sp even
Many thanks Bamps.
Hard to compare Havieron to existing AISC values I know, but the market’s interpretation of this will have a significant impact on the value of the project and hence the SO once the MRE is in.
Then the predators would know it's a conservative mre . Come on we are dealing with multi billion pound companies its beyond us guessing ifs but maybe your in or out stick with the plan
to me there's one very good reason why ncm don't want to be too optimistic to early with the mre. one word, predators!
best wishes john
Look around for comparisons and you will see based on volume, grades, jurisdiction, mine costs, a major involved, there are very few out there that match what we have here.
If you find something that comes close PLEASE let the rest of us know about it lols
The SP will do what it will do in the short term, doesn’t detract from where we are heading.
Excellent post
Folks need to understand it takes time to prove up such massive volume of resource, NCM going full on as best they can.
It took SOLG nearly 6 years to prove up their tier 1.
Not saying it will take that long and obviously there advantages here with the resource but don’t expect 20m ounces in a year.
They can obviously assume there is much more based on their technicals but proven actual resource will take some time to get to the 20m some are expecting in such a small time frame.
I honestly can’t see any negatives currently about being invested here, other than those who got spiked at 25p plus, but even then I’m sure they will be fine as don’t forget how we got there.
You could see with your own eyes the millions of buys at 27p, I’m guessing they are not worried in the slightest about their buy in price.
I’m going to take half at around 35p, however long takes I’m confident it will get there.
May be sooner than we think of new projects come up with the goods
Fantastic post Bamps! Essential reading for all invested - perfect perspective on just how big Hav is!
Look what Capricorn Minerals are having to spend for around 50m tonnes of mineralised ore while I estimate 700m at Havieron.
The BB seems to have gone back to normal, I would just like you all to compare what we have and what Capricorn Metals are upto. Thank you to Grace and others kind support.
The Karlawinda Gold Project, Pilbara.
In April 2020, Capricorn Metals reported a 35% increase in the ore reserves of the project to 43.5 million tonnes (Mt) graded at 0.9g/t of gold (Au) containing 1.2 million ounces (Moz). The reserves estimate includes Bibra (contained gold of 1.09Moz) and Southern Corridor (contained gold of 111,000oz).
The total mineral resources of the project are estimated to be 86.7Mt graded at 0.8g/t of Au for 2.14m oz.
Construction of the processing plant began in June 2020, while pre-production mining activities are expected to commence in December 2020. Commissioning of the plant is expected by March 2021 and the first gold is anticipated by June 2021.
Peak pit production rate is expected to be approximately 7Mt per quarter and will be maintained for more than a year before decreasing to a steady rate of approximately 4.5Mt per quarter for three years. The production profile will then adopt a natural downward trend as the material will only be sourced from the Stage 3 pit while approaching mine plan completion.
The mining fleet will include eight 130t haul trucks, four 100t haul trucks, as well as 300t, 200t and 100t excavators. The ancillary equipment will include dozers, graders, loaders and watercarts.
The ore will be treated using standard processing technology involving single-stage crushing, a 4.8MW single-stage semi autogenous grind (SAG) mill and a 4.8MW ball mill (SAB) grinding and gravity recovery, and conventional cyanide leaching and carbon in leach (CIL) recovery process.
The processing plant design comprises a crushing circuit, crushed ore stockpile, grinding and classification, gravity recovery, leaching and adsorption, elution and electrowinning, and smelting.
A 306-room accommodation village became operational in the first half of 2020, while the 44km-long site access road is practically completed.
The project will involve the construction of a 16MW gas-fuelled power station with 2MW of diesel back-up.
They are doing all this for 50m of mineralised ore to get at 1m+ ounces of gold.
I've been looking at other big mines AISC especially Cadia, Telfer and Fostervilles Kirkland Lake
Cadia 2020 $190/oz
Telfer 2020 $1283/oz
Kirkland 2018 $260/oz
Cadia is reducing due technical achievements in Block Caving and other technologies, also will reduce further when the molybdenum plant comes on stream in 2022.
Fostervilles mine had the lowest global AISC in 2018 and is reducing due to the higher gold grades found.
Telfer as far as I can find is high due to the dwindling resources at Telfer.
Most of the Worlds lowest AISC mines are in Russia but use heap leaching methods which doesn't produce many by-product credits.
I would expect Havieron AISC to be around the $500/oz but could be reduced by a lot of by-product credits and block caving techniques.
GGPs different licences are very varied with the types of minerals and will require different mining approaches and processing fascilities.
From what I've seen on the Telfer web site it should be able to process all of GGP ores from the Paterson.
The Panorama gold is a different mining technique and only needs a gravity circuit, cyanide leaching and cobalt processing, haven't seen any meaningful copper results.
ernest giles is too far from Telfer
Bromus is Nickel and Zinc and too far.
Hi All. Gold/copper or fairy dust if it is financially viable NCM will adjust their plant to process it at Telfer. ATB Speedy
Good morning, Christophe. Why would Rio make more sense if it's primarily a copper find? Telfer is still close, it was a copper/gold find, their mill handles copper and has plenty of capacity. NCM doesn't turn up its nose at copper, they are producing a lot of copper at Cadia, too.
Thank you for articulating my view better than I could so early haha
Morning CB
I really struggle to see why any other major approach GGP in the Paterson region when Newcrest already have a plant there.
The first thing they would have to do is build a plant costing 100s of millions of dollars.
For me the conundrum is if we look back at Bamps post last week which listed all the tenements owned by GGP And the different mineral types is can they all be processed at Telfer for their extraction or will it mean an extension to the plant. I also think the cobalt find could be massive at over $30000 a ton. I’m also glad some normality as returned to the board after last weeks morons.
944T
That would work too.
I was basically trying to point out the positives that were somewhat swamped this week.
My early morning numpty filtering has been taking me longer and longer.
Out into the wind and sun for me now. A jolly weekend to all!
Appreciate the MRE is the next big mover. Does anyone know if an estimate of AISCZ will be made at that time?
What are the boards views on potential AISC for Havieron - I’ve seen varying figures and the low AISC at Cadia mentioned but haven’t been able to find anything definitive.
All the best
Come on Scally results are due
Thanks PQ
A timely reminder of all the positives that were NOT lost by GGP during the course of this turbulent week!
Spot the deliberate mistake:
I think the MRE will be bigger than 7m oz and I think it might be worth more to us than 3p per m oz.
In my (unasked for) view, the recent spike and fall has left us more or less in the right place. I have been setting my target using a 3p per million oz rule of thumb, which is very conservative. If there turns out to be a 7m oz MRE, which is probably also conservative, that gives us 21p. In the absence of news, I am sticking with these conservative figures.
I am holding for lots of reasons.
I think the MRE will be bigger than 7m oz and I think it might be worth more to us than 3p per share.
People are learning more about Greatland thanks to more news coverage as in Friday's Investors Comical.
Scallywag is not priced in yet, I think. I hope that amongst the copper there there'll be gold.
The drilling is under way at Scallywag and there'll be news soon.
I think there's good sense in another JV with Newcrest at Scallywag.
There is a clear route to income through the 5% at fair market value and the 25%, whether that's sold or retained.
GH says he will progress using debt finance; given GGP's assets, obtaining that should be straightforward.
It isn't in Newcrest's interests to slow down either on the ground or in negotiation: the mine and the finacial deals and any new JV will happen quickly, giving us a good regular flow of good news.
GGP's other prospects look promising.
In these troubled times, gold looks as though it might do well.
Australia is politically safe.
I do wish I'd had the nerve to trade this week, but the main reason I held is that I think in the next year or so there is room for GGP to rise and not much in the way of risk.
Ideal scenario: 10m oz MRE at 5p per oz effect on our price, plus another Havieron at Scallywag and a JV to dig it up.
For me it's one to hold on to!
Good luck all, do your own research.
Q