Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hi Micky. My last post said please "no more guessing" but you have special dispensation, go on give it a shot. ATB Speedy
Music to my ears spy , post of the day.
MRE of 10moz and a total of 30moz is my guess .... Wouldn’t that be fabulous?!?!
I’m not getting too excited about a Scallywag at the mo ......
Hi Barna. Please stop the guessing game, it is futile. ATB Speedy
spy
given what you say and I do not doubt it for a second what do you think the SP will be in the short term my guess would be around 0.32 and hopefully a steady rise as news flows not massive jumps in the SP as that encourages the day traders and causes investors to get worried which the has a snowball effect .
TMT 15-20 mil ounce £1 min with current $1900 an ounce calculated, gold price post xmas will most likely have the potential to be nearer $2500 or more then that will also have a positive effect on the SP :)
Nice spy. Just keep repeating
MRE will land between 7-10moz. Over time I fully expect that to hit around 30moz.
I have been told categorically by contacts at 2 separate companies that this is the figure they think will ultimately be dug up, this is only the main Havieron find and NOT the anomaly underneath.
Countdown until this is removed.......
Agreed T&T,
The inferred is the figure that will be the interesting one for us - even if we do get an indicated figure for the sulphide zone it would not matter much as they are 18 months away from getting the decline down there so there's plenty of opportunity to beef that up in the coming months.
We want to see a nice chunky inferred number and hopefully some nice statements that show how the grade continuity is good and they have high confidence levels to convert the inferred to indicated during the PFS stage.
ATB - Paddy
But you said the indicated will be bigger than the inferred.
The largest amount should be in the Inferred...could be all the MRE is in the inferred category if they haven’t done enough drilling to move it to the indicated.
Personally this is what I expect, but there is a chance the HGZ is further along the stages as they probably want this out first so would have done a lot of drilling in the SE high grade zone.
The inferred will be the big one and the one we’re kinda more interested in for a first MRE. Whatever is in the higher stages of the JORC is a bonus and can be sent to production quicker.
T&T
Put me down for an MMRE of: 6 - 8MOz.
An AISC of $900 (conservatively)
PoG: $2000
Giving a SP of between 35 and 50p.
PS: MRE stands for mineral resource estimate.
MMRE stands for maiden MRE.
This is Hav's MMRE.
I believe the box cut has started.
Z
Hi GGPT
I'm aware of that , what I am trying to get over is the shape of this ore body is uniformish and the probable future resources are limited to the depth,densities of the minerals and the make up of the sulphides.
Doesn’t work that way Bamps. They’re not different ways of counting the ore. It’s stages - inferred, indicated, measured, probable and proven. The whole ore system will go through each stage depending on the amount of drilling to each area.
T&T
This is my thoughts on what the MRE might contain.
It's not like Telfer this is just like a big oval pipe stuck in the ground, so the perimeter is roughly defined, the depth is the unknown and also the breccias in the centre is it full of them or not and what densities are they.
Breccias = chalcopyrites =4.1 specific gravity = more tonnage, so the density is important.
The latest drilling has gone to 1230m and the grades are going thin, I'm not expecting anything major below this level.
With the continued drilling these questions will be defined more.
As the name suggests it is only estimates, the one to look for is the Indicated MRE, the Inferred is future resources.
I believe because of the shape the Inferred figures maybe quite low.
The Indicated Resource maybe quite high.
I'm hoping it will give an indication of the copper and cobalt estimates
Hi all, Just logged on for a quick browse. I would point out that the last few Newcrest updates have all stated that they are working towards an inferred resource.
"At Havieron, exploration programs have focused on an infill drilling program to deliver an inferred resource and step
out drilling to define the extent of the Havieron mineralised system."
Inferred is the lowest category of confidence in the JORC standard. They may need an inferred resource to allow them to complete their scoping study.
The inferred resource would then be converted to an indicated resource as they continue the infill drilling which would allow them to complete their PreFeasibility Study.
I'm not prepared to take a guess at the level that the MRE will be declared but the inferred category will give them plenty of scope to be adventurous should they so wish.
ATB - Paddy
Are there any stats anyway listing major find MREs and the eventual quantity ? Of course each will be different but it would be a helpful reference guide to how much more typically the final number tends to be from the MRE. On the basis of the Telfer example that’s nearly 4* . On the same basis an MRE of 5 or 6m ozs could be exceptionally good news for us and 8-10 could be potentially blinding
Bellers, thanks very much for that information - that is very helpful. I am with HL as well, so I will speak to them this week, and see if I can get that sorted out
Many thanks - ATVB
DL
@Bamps, I'm not in much doubt there's that much gold there. But isn't the initial MRE usually more cautious?
@Merc "6-10m oz sounds sensible. Remember Telfer MRE was 8m oz and ended up being 30!"
This is a big part of what's driving my thinking here. If it's 8, we can probably expect over 20 and maybe 25 or more. At six, I'm still going to be thinking it is likely to end up 15-20 or more. And if we have 15-20 moz of gold, a lot of us will end up very, very happy even if we hit absolutely nothing else of value at Scally or elsewhere.
If the MRE is 10, we're on our way to £1 / share, IMO.
6-10m oz sounds sensible. Remember Telfer MRE was 8m oz and ended up being 30!
Whats the huge disturbance on planet.com? I haven’t looked but Mine decline was the first thing that sprang to mind?
14 MRE rising to 32 once completed and then onto Scally
Davielad, her Mum did the paperwork and I access the isa to pay in as my daughter is on such a low wage she would never afford to do it. It shows As a gift with a receipt showing my details on HL. It will accept payments from my card and my wifes or a monthly contribution so seems ok. HL have been excellent but the company it came from created every obstacle possible hence the FINALLY.
Anything over an 8million Ounces MRE is a 'Brucey Bonus'.
Chester.
That would give us around 10m ozs Bamps which I imagine most would be pretty happy with . Not quite at the elated top end of the scale though
Hi Tmt
The High Grade Sulphide Zone has been defined in the Northern Crescent at the last update as 5m wide and 10m max.
It also says it is intermittent and can be seen in the NE as not continuous.
The cross sections also shows some of it either petering out or intermittent on the way down.
It's definitely not going to be as good as the Southern end.
Paddy worked out an estimate of 500mt of mineralised ore for the oval so an estimate of 1g/t average would give a figure of 16m oz.
0.4g/t average would be 6.4m oz
Somewhere between 0.4 and 1g/t average feels right to me bearing in mind I've been working on 700mt
Bellers hi, I was interested in your last post, as I tried to open a Juniour ISA for each of my grandsons, but was told that a grand parent couldn't do that - only a parent.
Have you managed to over come that, or have the rules now changed?