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Hi the doors,
I like the deep, complex and exciting bit.
But yes, the MRE will be announced when the companies concerned think it is is appropriate. It's just so near ..you can almost touch it. In fact, I feel like quoting Marcus Aurelius, from 'The Gladiator' "
"There was once a dream that was Rome (he meant the MRE), you could only whisper it. Anything more than a whisper and it would vanish.”
Have been guilty of this myself. Any "loose change" in my account has sometimes been used to buy GGP.
Sorry, 19th in Stroud
@Mush
Your question about when the line is drawn for the MRE is the big question for me. They did set themselves a deadline of H2 without fully knowing how big this would be, and if it keeps growing as they discover more then the decision is a tough one. I’m a believer in a Nov MRE leaving it as late as poss. The shape of the thing is intriguing and from the job adverts it reads as though on-the-spot decisions also need to be made in 18 months too. The later the MRE gets the better but I suspect it’s deep, complex and exciting. A bit like your good self ! See you on the 18th
Probably the most misquoted statement since “Play it again Sam” Humphrey Bogart, Casablanca.
"Hav mineralisation 10 times that found at Telfer ".
“I'm sure it was ten times the present production at telfer.”
“Nope Biswas stated that the grades Were 10 x better than the grades at Telfer from memory”
“I think you will find he said it’s 10x the current grades at Telfur . Which was processing about 1.5g / ton at the time ! “
' Havieron continues to deliver grades more than 10 x greater than Telfer'
“Here is what Telfur is producing this year..... 393koz
FY20 Gold Production..if Hav is 10x that then it’s nearly 4m Oz per year”
Stuartw was the first one to get it completely correct, thank you Stuart
This statement was from the interview Sandeep Biswas CEO of NCM gave at the Bank of America Global Metals, Mining & Steel Conference 12 May 2020.
At that time head grade being processed at Telfer as reported in the Quarterly report issued 30 April 2020 was 0.97g/t ten times that is 9.7g/t.
The quarterly report page 6 : https://www.newcrest.com/sites/default/files/2020-04/200430_Newcrest%20Mar%2020%20Quarterly%20Report%20-%20Market%20Release%20.pdf
The interview link : https://www.youtube.com/watch?v=vubsc3oIdJk
Starting from 9:03 with the question and SB reply at 09:44
“So this mineralisation is quite different in many ways to what we are seeing in Telfer”
“For a start its much higher grade, I mean, we have'nt seen these sort of grades at this sort of volume in the Paterson”
"The reason we are excited, and you've seen all the drill holes is that we have this high grade kind of what looks like a parabola on its side where we think that the first mining will start."
"Which will involve high grade stoping, which we will truck to Telfer. So this is, you know, 10 times the grade of what we're currently treating at Telfer."
As Stuartw quite correctly points out, its only the grades within the high grade sulphide zone that are ten times higher than the grade being processed at that time at Telfer.
This was also the interview where he stated:
"But the critical path is to start the decline . . . . . If I could start the decline tomorrow I would"
Thank you to all who contribute here.
Thx Paddy. .. launder we are all in the dark with them just now but hopefully it will become clear soon . . All in a good way of course . It certainly c keeps the interest up ..apart from spy’s criptic clues ;-))
Hi Lenz & Launder - if you look in the very SE there are 3 drills HAD060, 067 & 068 that all drilled back towards the NW and the ore-body. If you look roughly at the distance they are from the definition of the ore-body then the drills in the NW may be used in a similar manner to test the new breccia zone at depth - but then again maybe they are vertical or even in a different direction.
The only thing I do know is the furthest NW drill location was active again in the satellite image on Wednesday so we can safely say they have been finding something worthwhile up there.
ATB - Paddy
My recent top-up isn't appearing... its irritating if we can't see the reality of activity.
Enrico hi,
That made me spill me beer very funny :-))))))))))))))))))))))
Launder...that's a very good thought!
Hi StellaBob, Agreed, we do want a brilliant MRE but we also want an income. It's a fine balance between the two I guess.
Sorry, Lenz, I seem to have had a similar enquiry to yours, for Paddy.
Mush - I am hoping that what NCM know, and what they are finding, is of such a scale that they they cannot reasonably draw a line and declare the MRE.
Indeed, Paddy: BVI stands for "Beetroot Virgin Islands"!
Hi Mush. Surely as shareholders we want the best possible MRE - one which will blow the bl**dy doors off - and sky rocket the SP. I know more resource report can follow but they won't have the same impact.
Have a great(landers) weekend - one and all.
Cheers StellaBob
Thanks for putting up your latest overlay, Paddy - always good to see the developing drill action.
That group of unreported holes, in the NW, far from where I thought the horseshoe might close into an ellipse - are they for very deep drilling, a wide crescent of ore in the NW, or for both?
Paddy .. seems to be an awful lot of drilling outwith what we accept is the main ore body ?? Could there be another smaller bubble ??
Great work DIP - very impressive!
Question to the more knowledgeable here:
If we assume that what has already been discovered at Havieron is quite sufficient to produce an MRE and the data for a successful outcome from the FS, is it really necessary to dot all the 'i's and cross all the 't's via this extra drilling around and at depth?
Or is it that we are seeing this from the eyes of shareholders as opposed to engineers and NCM need to find the full extent of this thing (or best part of it) before commencing an 'all things considered' production drilling campaign?
BVI - isn't that where Beetham has taken up residence ??? Hmmm
You get some cracking wines in Aldi..if you are lucky enough to be there at the right time .they have a very nice red Stelenbosch just now !
BVI? Pumping water one way and sucking all the profits the other way, tax-free?
Perhaps this is a good time for a visual - here's the latest NCM report overlaid onto the reported and unreported holes are red pins.
https://ibb.co/vLnHMCh
Cant's wait to see what those holes in the NW turn up.
"If its that deep could we not drill it from the other side?"
https://www.antipodesmap.com/
Put in Telfer, Australia, and you'll find a whole lot of water, but not all that far from the British Virgin Islands, I guess. Weather is better except for hurricane season. You could pipe some water through the tunnel and irrigate the WA desert.
Nothing new here, IMHO!
Some of us have been discussing, and expecting, major positives from the "open at depth" at Havieron for many, many months now!
Why? Because if you read all of the research & comments that many of us have seen, for years now, the "depth" issue has been paramount, in numerous cases, including from those miners that have gone before us and later commented that GH had the balls to go deeper!
DYOR & GLA
"It could tie into the lack of rig movement of late."
I've been wondering why the NW hasn't been swarmed with rigs to ascertain just what's out there. I've cautiously assumed we're going for more detail around the horseshoe for purposes of nailing down an MRE. I'm still mostly assuming that's what it is, but some of those holes might be going very deep....
Mostly, though, you'd think they'd wait for the exploration decline to try to pursue the very deep stuff, wouldn't they?