Firering Strategic Minerals: From explorer to producer. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Interesting tweet from the main dude -
'Warren Irwin@bigdude6669
Little bit of a prediction here. Neither Newcrest nor BHP will end up owning Cascabel in the end. #solgold, @solg
. BHP is kind of painted into a corner and won't be able to act in time and Newcrest is playing it too cute.'
-
https://twitter.com/bigdude6669/status/1228357136138166274?s=20
-
Newcrest should ditch Ecuador and pour its resources into Havieron-Telfer
Thats a very encouraging find. Cheers.
The fact that Newcrest are pumping £25mill into Hav speaks volumes to me, just a mater of time before we see those double digits by the look of it...
Thats 25m USD this year on top of what was planned. I don't think it's 'new' money - simply brought forward into this year to accelerate drilling. Still good though as it shows their confidence in Haveiron and their sense of urgency for Telfer
The 25m spend is 2021’s budget to get to stage 3
They are not spending an “extra 25m” they are just 1 year ahead of schedule.
Obviously keen
the £25m is extra for drilling and not for stage 3. GGP are liable to 30% of these extra drilling costs. I asked the question a while back which Paddy clarified
imho, gla, Matt
I dont comment a lot but im here several times a day reading the comments. It clearly stated the New crest agreed to spend a min of ££££ for 70% that doesn't mean they wont spend more. Greatland are not liable for the extra spend! They are spending more in this phase/stage as its clear this is larger than initially predicted
Can someone explain what will happen once (if) they decide to mine? Will cost be split 70/30? Could NC potentially have GGP paying a "fee" for Telfer's processing?
I believe that would be the case, which is why our Joint broker Numis is a very shrewd move by GH in bringing them on board.
They have the contacts to arrange funding if required. However many think we will be bought out before this happens.
I disagree, i would think they will simply get 30% of the gold mined. Newcrest are getting a bargain. There have been lots of suggestions on how the 30% will work but i would think they would make it as straight forward as possible as this is peanuts for peanuts even if it was only 5 mil ounces which its looking so far like it will be a lot bigger. Just my view in it. I just think some posters over complicate the deal.
Napthman. So you don’t think that ggp should pay for the processing of their 30%? NC are very nice people I am sure but don’t think they have charitable status!
nap1's on planet pluto if he thinks Newcrest's gonna hand over a wallop load of freebies to GGP
More than likely they will purchase the 30% off gg but not at a daft price as gg have a lot more to offer moving forward, and that is better for us and gg snd newcrest. Just my opinion
We may by that time have a lot of leverage with the other plays we have.
I could see a situation where we get good terms on processing fees for our 30/25% etc if Newcrest get a good deal on other plays we have.
Quid Pro Quo.
A lot of negotiating to be done.
Well if it hasnt already been discussed and agreed before the drilling started then im invested in the wrong company which i dont think i am
Perhaps that's the 5% additional, which is left to the end to be used as negotiating chip?
I am not sure if this was agreed already, I believe not, but hence my question.
I agree we need to understand what the plan is, but no one would do a jv without discussing the full agreement , but there is at this stage no point in releasing that information to the market in my opinion, we are at the what if stage but looks good so far
https://greatlandgold.com/paterson/
These are the highlights of the JV on the GGP website.
NC are responsible for all drilling costs during the JV and have full management control.
Once the feasibility studies are completed, I would expect GGP to be liable for their % share of Capital Expenditure, for construction of the block caving declines and infrastructure. Typical time to produce ore post feasibility study completion seems to be about 3 years.
The JV mentions a tolling agreement, I would imagine this will be negotiated, higher grades would I think have lower toll costs.
I watched the interview on on of Applegarth’s links today. GH clearly speaks about the proceeds from HAV mining providing dividends for shareholders.
However, on the GGP website, it also states they are an exploration company with no intention of becoming a miner.
I am just glad I am invested in this great company with loads of potential, and really interesting times ahead, and I am learning a bit about gold mining.
GLA
Hi all, I believed that the $25m was not extra but was brought forward from Newcrests 2021 budget to their 2020 budget. I cant find it at the moment but I am certain that was the way I read it. Can anyone confirm this?
Read GGP's 11th Feb update - spells out the accumulative NC spend at each stage up to the total of $65 million - table is around page 7 and 8. They are rattling through stage 2 courtesy of the relatively large number of rigs they are using on site. Hence stage 3 has to be funded sooner than what had been anticipated. So you are right, money for stage 3 originally planned to be spent in future years is getting spent now.
IMHO, I'd expect the number of rigs to increase further, to maybe eight or more in the next few weeks, as Newcrest step up their 'proving' of Havieron as their Telfer saviour. They need a quick answer and Havieron appears to be increasingly ticking the boxes for them.
As Sandeep Biswas stated recently:
"These results extend the mineral footprint and signal the very real potential for renewal of our asset portfolio in the Paterson Province. The grades we're seeing at Havieron are unique for this region and we're excited to progress in the accelerator evaluation of this opportunity."
"Finding gold is hard and rare, so to get these kinds of drilling results is really exciting."
"And the other piece as you say is how do we bring Havieron on as soon as we possibly can, now. It depends what sort of mining we're looking at. I mean if you're looking at the grades there, I mean, again we've got to do a lot more drilling, but if that becomes a potentially a high grade mine, you could bring that on sooner rather than later..."