Member Info for PaddyGall

Yes TMT - they are being conservative on most criteria in their assessment - they didn't even mention the high grade that has been discovered in some of the breccia. I think we are all pretty confident that the HGZ will be extended to the NW as the step-out drilling continues also so there is the possibility that the sulphide zone could easily double from here.

New satellite image tomorrow and interim results maximum of 4 weeks from today.

All looking rosy in the GGP garden - Paddy

Hi Stu - surely nobody, but nobody in their right mind is going to be selling now. I mean I know there's levels that people sell at and I don't know what sort of games they play but if anyone sells today they are nuts IMHO.

ATB - Paddy

I did register with them Bolly - my reply email says that my access request is pending......

ATB - Paddy

Looks like H Trader on Twitter does - here's a screenshot of page 8

https://twitter.com/HTrader64/status/1260897775455277058?s=20

It's not just the other assets - it also includes a value for the breccia zone at Havieron if you read it again.

Wow - so they are basing their 12.9p on 'ONLY' the high grade sulphide zone defined by the drilling to date.

This totally discounts all the breccia and any new sulphides discovered during the step-out and deeper drilling that is going on now and they've allowed a nominal $50M for all GGP's other assets.

As Primorus said in their tweet earlier - there's plenty of upside from here.

GLA - Paddy

I believe it's a note that the broker puts out when the initiate analysis of a company.

All good as they will actively be promoting GGP to their clients now - Paddy

I guess they are not able to - it'll be locked down to clients, just like the Numis notes I guess.

Hopefully HL will be able to show the target price - Paddy

Primorus have just put out a Tweet saying that Hannam & Partners have just put out an initiation note on GGP.

https://twitter.com/priminvestments/status/1260855292641902592?s=20

GLA - Paddy

Chester,
I love the look of Scallywag and I think it could be the real value unlocker (as HAT used to say) for GGP but regardless of it's geological setting, and the similarities of the AEM and geochemistry surveys - until Callum & Gervaise are holding a core full of glistening alteration from the depths of it in their hands then NCM won't be attributing any value to it IMO.

It's imperative that we get cracking on their asap and I believe that once the heritage clearance issues are sorted then we will be cracking on without further delays.

GLA - Paddy

Thanks to pr0t0n on the other board

https://www.reuters.com/article/us-bhp-capital/bhp-sticks-with-spending-strategy-rio-eyes-ma-amid-coronavirus-shock-idUSKBN22O22Z

ATB - Paddy

Yes MFU - it has tightened up a bit now.

Anything at 8.4p and above is a buy - I'm being quoted 8.125p to sell 350,000

I'm assuming that the high grade sulphide zone that Sandeep has said is unique to the Paterson (so far) is what has caused the magnetic signature at Havieron. We know that they haven't seen this type of mineralisation before as he has been at pains to point out on numerous occasions.

Therefore there must now be a greater than evens chance that the magnetic signatures we are seeing at our other targets are caused by the same type of mineralisation - especially when the geochemistry results are similar also.

I stress this is only my musings so DYOR please

GLA Paddy

Schlemiel, if you remember the note issued by Sprott back in January 2019, they highlighted the different magnetic signature of Havieron to Telfer also.
The fact that Telfer didn't display anything on any AEM surveys probably discounted a lot of the magnetic signatures in the region as barren.

At first they assumed Havieron would be an IOCG from the magnetic response but it's proven to be a similar geology to Telfer but in higher grades.

You can see where I'm going with this theory - let's see if it holds up when Scallywag is drilled

ATB Paddy

kieffy - remember first pick only lasts as long as the farm-in is in operation, as soon as that is complete then it's open season again although I would think something else would be put in place before that were to happen.

Yes magictrades - I have downloaded the Winu one and it looks very pretty, I hope he does the same this week for the Havieron analysis.
You can download a free leapfrog viewer to allow to look at the model.

Launder & Timber,

There is far more than 1-2 million tons of high grade material - I'm pretty sure that when Sandeep is referring to 1-2 million tons he is referring to that amount per annum. I did a calculation a while back of the volume bounded by the high grade purple zone by plotting it onto Google Earth.

https://ibb.co/HzVhbf8

So even allow for half of this at 21,000 sq metres and then allow a conservative depth of 300m and multiple it by the specific gravity of 2.8.

This gives you over 17M tonnes of material so at 2 Mtpa NCM could conceivably be stope mining for 8/9 years before they would even need to think of a block cave.

GLA - Paddy

Hi Timber,

My take from it is that there has been some form over 'overprinting' of the grade in the breccia zone that has somehow 'up-graded' the grades. They did say in the last update that the grades were better defined within 100 metres of the sulphide zone.

My thoughts would be whether this would be suitable for the stoping operation also but I think it would be more likely to be left for the bulk mining that would come afterwards. The thing is there was a diagram in the briefing book today that showed it was roughly 300-350 metres between the two arms of the sulphide zone - if the breccia is enriched to with 100m of these arms then that only leaves 100-150m in the centre that possibly would make up the lower grade breccia. This would then be blended with the higher grade breccia to get an economic ore to put through the mill.

Magictrades might be a better person to answer the queries on the breccia zone grades though.

ATB - Paddy

Just found this link to a blog by the Angry Geologist on CEO.ca

http://angrygeologist.blogspot.com/2020/05/winu-exciting-times-in-pilbara.html

He is taking a look at the Winu & Havieron discoveries in the Paterson. This one is dated Friday 1st May and is concentrating on Winu but at the end he says that next week Havieron will be up for analysis.

He has created leapfrog 3D models of Winu so hopefully we will see more of the same this Friday.

GLA - Paddy