Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. 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.
Newcrest have done the dirty on GGP here...
They've made a very big gold deposit look distinctly average... Havieron's NPV is $228m... IRR is 16%... awful stats, considering GGP is valued at over $1bn and only owns 30%.
I mean this Study is only looking at a small part of the deposit, but it makes it look absolutely tiny. Blatant attempt to move towards a NCM buyout of GGP?
No production till 2024?
10p tomorrow?
Games being played here... Major games....
Nice try, doesn't wash....
SD need's to address this am
no was always highlighted by GGP that this would always be looking at just a small part of the mine including in a recent SD interview...but does look like a few posters got themselves in an excited frenzy going into this...
Not sure what people was expecting. It was mentioned several times it was going to be a fast start…
Had a brief look, really not great numbers, will delve in deeper tomorrow.
Going to be interesting to see what the SP is tomorrow....
GTA
Not an expert but am I reading this right that the amount of gold deposit is lower than what they announced previously.. doesn't make any sense to me and someone who knows can you please explain?
Here come the...exactly what I expected to be released posts. Same as after scally everyone had always known it was a write off. If you knew why not voice it before it was released tonight?!
especially as we are supposed to be open at depth in many directions... clarity would be appreciated
Southwesterner - "I mean this Study is only looking at a small part of the deposit"
It always was only going to look at a small part of the project. Don't you listen to anything that you have been told.
Cretin.
The criteria for the indicated resource in the PFS is much stricter than that of the inferred figure previously reported, but the level of assurance that the resource is mineable is also significantly higher. You should read the whole document, not just look at a few selected figures. Read the bits about potential exploration upside, and understand that this PFS only covers a small portion of the overall Havieron project. The whole emphasis that NCM has placed over the past few months is to fasttrack initial production - there will be many more phases to come in the development of the project.
I do understand that this is only small portion but I fail to understand how estimate has gone down than previously reported as all the new drill holes went deeper in that area since that was reported meaning the gold deposit should have increased rather than decreased.
Again not very clear about this.
They have used 1500 as the gold price in the calculations as well when of course it may well be a lot higher
sw if its .10 tomorrow Ill be buying .
Start off processing 2mtpa of ore, and increasing to 6 mtpa. That is alot of ore at 4g. 500000 oz per year?
To all those saying this is a fast start... there's no production till 2024 in this plan, so to all the people (zoros et al) saying they would be in production H1 2022, which I warned was optimistic, again this is a rebuke.
And to all those saying this is only 14Mt of indicated resource... and there is 37Mt of inferred resource... so this is only a small fraction of the resource, the facts are the indicated material is 4x higher grade than the inferred.
So the majority of the gold in the resource, is in that 14Mt of indicated resource. You can see this from the mineral resource statement on p10.
To be precise, 53% of the gold, and 60% of the copper - is in that 14Mt of indicated resource. Only 47% of the gold, and 40% of the copper, is in the remaining 37Mt of ore.
To only create $228m of Net Present Value, from the $3 billion of gold and copper metal (1.6 MOz gold, 73kt copper) in the mine plan - is not the best result to say the least.
"Start off processing 2mtpa of ore, and increasing to 6 mtpa. That is alot of ore at 4g. 500000 oz per year?"
There's only 18Mt of 4g/t resource in the Crescent Zone - including both the indicated and inferred resources. So you'd only get 3 years of production at that production rate. The rest of the orebody is 1g/t breccia.
Using one train at telfer processing 2mtpa, 160000 oz,
Based on figures at Feb 2021. Other train using ore from telfer until it becomes uneconomic. Plenty of scope to increase processed ore from haverion along with increased resources. Initial 9 year life
Go away Southwesterner - you clearly do not understand where we are in the development of Havieron - this is just the start and fully backed up by Sandeep Biswas’s own summary of the PFS - just read his words (not anyone from GGP) and understand that he is taking Havieron to mine - end of!!!!
What a loser you are South Westerner, what do you gain? You’ve stayed up to spout a load of waffle in here and it’s clear you have an agenda because you missed the boat HA! Great news tonight, first stage looks great and now we know for sure we’re going mining!
10p tomorrow? You are a joke. What a bunch of fannies.
Onwards we go…
I hope for 10p tomorrow. Dream top up. Lol
“The rest of the orebody is 1g/t breccia.”
No it’s not you muppet. Go and look at the growth drilling grades from 2021. What has been included in the pfs dates back to prior to 1st March..... and Newcrest and GGP have always stated 2-3 years to production.
All we wanted to hear, including the instos, was that we are going to mine. That's it. Job done
This is initial, it will grow. Some people just don't get it