Member Info for PaddyGall

All the talk of declines and then tig's post yesterday got me thinking last night. Why is there new drilling in both the SW & SE areas? but the drilling in the SW seems more concentrated and more akin to infill drilling.

Check this image - we know that NCM found nothing in HAD016 & HAD019 - (blue oval) and they even went so far as to say the system was closed to the South & East (based on current drilling). Well over the last couple of weeks we noticed the pod of two holes & another hole by the tracks have appeared (red circles). I also noticed in yesterdays satellite image that 2 areas seem to have been cleared at both ends of the access track (maybe for more drill pads).
https://ibb.co/KsRNbyJ

What if these are the sterilisation holes and the decline might be approaching the orebody from the SE (blue line) and perhaps like hydrogen suggests there is a new zone of mineralisation in the SW?
https://ibb.co/DYfWnbq

Again all guesswork & supposition - please DYOR

ATB - Paddy

Hi Driver,

Still probably too deep for open pit as it's still 200-300 metres deep to basement in that area but if they are finding good stuff there then no reason why they wouldn't begin there and 'bulk it out later' I think were Sandeep's own words.

All supposition at the moment, but fun to guess while waiting.

I think this board might be a bit busier in a fortnight's time.

ATB Paddy

My thinking was something along those lines too - not quite the 30-70 g/t but something interesting.

I'll post a few images in a bit.

ATB Paddy

Morning all - I've had to come into work today so I won't really be contributing much.

I've got a theory on the holes over towards the SE sector Spratt. I'll try to post something up later.

ATB Paddy

Come on tig - this information is gold,
Looking forward to seeing an update tomorrow - Paddy

Mickey - my gut feeling is that area in the SW corner that Newcrest have been peppering since early January is going to prove to be the pivotal area. The only result that we have seen from there up to now was the top of HAD042.
We know HAD043 is a 'fan' hole with a minimum of two forks that was awaiting assays and since January there has been a minimum of 2 rigs on that area continuously.
Now the results from HAD042 were the ones that had the new style "high-grade breccia" that Mike Nossal spoke about in the podcast. If the HAD043 and all the other holes they've been putting in that area are getting similar results then April 30th COULD be a report to be remembered - maybe this time it will be one that the market won't shrug off and ignore.

Not long to wait - 10 more trading days - Paddy

Nice delayed trade for £161K just gone through on the LSE website.

17:14:06 15-Apr-2020 5.65 GBX 2,850,000 161,025.00 Off-book XOFF

https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00B15XDH89GBGBXASQ1.html

GGP held up very well today IMO and seemed to be well bought into in the mid 5's. Augers well for the next two weeks running up to the 30th.

ATB - Paddy

Hi Jersey,

I did post this up earlier today.

https://twitter.com/paddygall1/status/1250331055984238594?s=20

ATB - Paddy

DL has just put out this Tweet a few minutes ago.

https://twitter.com/DavidLenigas/status/1250400757129641984?s=20

'This Havieron thing is damn big. Bigger than damn big. I heard somewhere Newcrest may now have 10 rigs now on site and I see from satellite pictures these are stepping out a massive distance from original discovery.
@GreatlandGold'

I wonder if there is any truth in the 10 rigs info - would tie in nicely with the info chartbuster had a few weeks ago.

ATB - Paddy

Comparison between the last 2 images.

https://twitter.com/paddygall1/status/1250331055984238594?s=20

Looks like there are rigs now on 2 areas which had previously been cleared and also a new sump has appeared in the centre of the horseshoe area so they are continuing with the infill drilling up there as well.

https://apps.sentinel-hub.com/eo-browser/?lat=-21.72621&lng=122.64763&zoom=15&time=2020-04-15&preset=2_FALSE_COLOR&datasource=Sentinel-2%20L1C

I wonder what NCM are up to - it'll all come clear in time no doubt.

GLA - Paddy

Guys - it hasn't updated on the EO Browser yet but I've managed to download today's image from the raw data on the scihub.copernicus website.

I can't really do a like for like comparison until later but from first look there appears to be 2 more drill pads - circled in blue.

They seem to be spaced more randomly than before so I'm not sure of why but I guess NCM will have a plan and a reason

https://ibb.co/p48bjHJ

ATB - Paddy

Nice find schlemiel, looks like Encounter have had good success with the drill. It will be interesting to see the results of the assays in May.

Shows that the datasets that these companies are using are getting very adept at zoning in on these deposits - fills me full of confidence for Scallywag & Paterson Range East that there is mineralisation down there.

ATB Paddy

Well there's spot gold through the $1,740 and futures through the $1,780 marks.

Looks like all the ducks are lining up nicely.

ATB - Paddy

Hi corradus, yes mate that pretty much echoes my thinking also mate.

Of course there will be plenty of negotiations that will go on behind closed doors than we will never be party to and I have no doubt that some of them may prove to be troublesome but I expect them to do a deal (whenever that is after MRE, PFS or FS) and publicly present a united front.
We just need Gervaise, Clive & the rest of the team to knock it out of the park.

ATB - Paddy

Arnie - scenario 1 would have been the ideal situation but as we all know there was no way that we could have delivered that MRE.

If for arguments sake NCM were prepared to pay $200 per ounce if GGP had completed the MRE - why would they not be prepared to pay that amount per ounce for only 25-30% considering they have got the 70% at a song.

They go on about being the miner of choice and wanting to foster good relationships with their junior partners - perhaps this is their opportunity to make good on that and be held up as an example of how a major should deal with a junior.

I hope anyway - fingers & toes crossed - Paddy

Hi Arnie,
Fair point but surely Newcrest are more than compensated for the fact they have paid for the MRE by getting 70% of the deposit for $65M regardless of how big it proves to be?

They can't value their ounces in the ground at one price and ours at only 30% of that IMO.

ATB - Paddy

I think this is the one you are after speedy.

https://www.911metallurgist.com/blog/how-to-value-gold-deposits

They talk about the 10% of the gold price (which is $1,730 as I type) but then go on to say that not all ounces are equal. The fact that we should have an MRE, a pre-feasibilty study & a feasibility study completed if the farm-in runs it's course should mean we would be in the higher section. Also take into account the fact that NCM don't need to build a processing plant, airstrip, accommodation blocks, etc.
So if we take 10% as $173 and then take into account the other factors then suddenly $200 - $250 doesn't seem to be too far off the mark IMO.

ATB - Paddy

Hi tom - I think those dashed circles are just indicative of the general area of the prospects. If you look at this tweet there is a clearer image that shows the targets in Scallywag and they are quite a long way from those yet.

https://twitter.com/paddygall1/status/1249986544083009543?s=20

ATB - Paddy

This service is getting completely overwhelmed - must be all the people in self-isolation who are on the boards constantly.

Lets hope for a nice strong afternoon - Paddy

Thanks Red,
Suspicious is exactly the word that I would have used also - we obviously won't hear any results from any of this activity but as you rightly said it would be nice if there was some mention of it in the quarterly report especially as they must be aware that we can see what is going on there from the satellite updates.

Not too long to wait now - Paddy