Member Info for PaddyGall

Spratt - I tried to register when the first note came out. The guy emailed me back and was very polite. He said they are not allowed through some regulations to provide their research to PI's. They only deal with institutional type investors that typically have over 100M portfolios.
Cheers Paddy

Perhaps Proactive Investors might be able to do a synopsis of it like they did when the first one came out last August hopefully.

Don't think so Jambo - that reccomendation was on Jan 30th - this is a new broker note so they must have revised their calculations using the new drill data - Why can't we see it,

New Numis note out today

https://www.numiscorp.com/x/MainResearchDownload.html?id=24962&stype=stock&secid=314

I wonder what they're revised target is

@schlemiel - I think the term 'permitting requirements' is I hope pretty self explanatory. They have all the permits that they require in place for the exploration phase of the project so I'm guessing that the only permitting requirements that they would need going forward would be for mining & perhaps and exploration decline.

Cheers Paddy

@Joebass - if stage 2 is almost complete then they will have burnt through $20M in about 9 months - bearing in mind they started with only 2 rigs then went to 4 and eventually 6.
I can't honestly see them taking any more than 6 months to use up the $25M for stage 3 - could be even less if they up the rig count. Remember they have started the metallurgy studies and the permitting studies in parallel with the continued drilling.

GLA - Paddy

Jambo - just found this formula for calculating gold equivalent on this wepage

https://luminagold.com/projects/cangrejos-project/mineral-resource
Gold equivalent values can be calculated using the following formula: AuEq = Au g/t + (Ag g/t x 0.012) + (Cu % x 1.37)

So your copper grade x 1.37 - so for GH to say the AuEq was 0.8g/t then they must be working on 0.6% copper as an average.

Cheers Paddy

Hey Jambo - GH tends to convert the copper to Au equivalent and add it to the gold grade. I'm sure he said that the copper was worth 0.8g/t gold in the high grade areas.

In theory the copper would pay for the processing of the gold leaving clear profit on it.

Regards Paddy

Perhaps this is the reason that AC was so bullish in his RNS following his meeting with GGP management after the AGM in December.

https://www.investegate.co.uk/primorus-investments--prim-/rns/greatland-gold-investment-update/201912110700064302W/

""We came away from the Greatland Gold AGM and follow-on management meeting with a new sense of excitement as to the potential scale of Havieron. Drilling reported last week from hole HAD023 has demonstrated that Havieron continues at least 300m to the North of the initial discovery area around HAD005. A review of drill plans in the AGM presentation and publicly available Satellite data suggest that even today current drilling is still working to find the limits of the deposit."

GLA - Paddy

Well if that's the case and their original 4p was based on 3Moz then they would now be assuming 4.5/5Moz - I still think that would be vastly on the conservative side.

GLA Paddy

Thanks Matt - all very positive & encouraging and the fact he personally seems to be involved and singing the praises of Havieron speaks volumes IMO.
Cheers Paddy

arnie - very instructive and also there were other sub-level caving videos that look interesting. I think NCM use all these various methods at their different mines. I guess it all comes down to speed and how good the overall average grade is. If it's good enough & Telfer can be maintained on existing supplies for long enough then perhaps the block cave method would be used. If they only chase the higher grades and time becomes more of an issue then the more selective methods would be used. I guess all that will come out in the feasibility study stage of the farm-in.

Cheers - Paddy

Yes Studel - I initially thought a "Jameson Cell" was where they probably produced that fine Irish whiskey but alas no.

A lot of interesting reading in that Cadia study - maybe some of it would be applicable to Havieron going forward. As I said last night the average grades they are working on up to 2053 are well within the scope of what Havieron could supply and if NCM's trials of new generation block caving work then Havieron could well be their flagship project for the future.

Also all the Cadia feasibility work would have been completed using their standard value of $1200/oz gold - just look where the price of gold is headed - up to $1583 and likely to break back into the $1600 range this week.

Mid-week satellite image to look forward to as you said and who knows maybe something will come out from one of the institutional luncheons that GGP are holding in Sydney & Melbourne this coming week.

GLA - Paddy

Morning Spratt,
Creating a 3D surface model is a bit beyond my capabilities at the moment friend and I don't really have the time to spend on it at present. Salpetie did use the corebox model to verify that he thought the grades would hold up ok - see attached document

https://mega.nz/#!N1RhzYJZ!TwYB9i8y9SXZsXoeDkM6igxThuzD8Vl-j9zQ8S15X2s

This only takes the results up to the 2nd December into account.

Cheers Paddy

Also if you look on page 5 there is a table showing the expected head grades of gold & copper they have allowed for in the mine life up to 2053.

Look at the average gold grade they are allowing for - 2020-22 average of 1g/t and after that it drops to 0.4g/t and we know Cadia has one of the lowest AISC on the world.

What we've seen at Havieron so far would crush those grades - ok we have a higher AISC because of trucking costs but NCM will make this work IMO

Knight Paddy

Hey Jerry,
We made hard work of that today, need to be better next week when the Welsh arrive in town.

Have a look at this document that Newcrest released last year for the Cadia expansion.

https://www.newcrest.com/sites/default/files/2019-10/191015_Market%20Release_Stage%201%20of%20Cadia%20Expansion%20Project%20approved.pdf

On page 18 there is a table showing the depths of the various caves and some of them go down to 1,400m so I don't think there is any technical reason they couldn't go deeper in theory.
There's a lot of other useful and interesting info in there also.

Cheers Paddy

Fair comment Jambo - but I would have thought the link would have been on their website as only registered users can access (and believe me I have tried) and they also issued a "Reiterates" on the 30th according to HL.

https://www.hl.co.uk/shares/shares-search-results/g/greatland-gold-plc-ord-gbp0.001/broker-forecasts

Rugby time now - Laters

Come on jonesy - stop all that deramping nonsense - only £2 lol.

We have over 4 Billion shares if all the outstanding warrants & options get taken up so we would be worth somewhere north of £8 Billion - Is dry January over because I'll have a pint of whatever your on.

ATB - Paddy

Kabaa - I think that GGP will have sight of all the results as they come in. According to the terms of the Farm-In GGP should have at least one member on the technical committee.

Newcrest act as the manager - I take it that means they are responsible for the day to day decisions but one would assume the technical committee would have sight of the results??

"During the Farm-in Period, Newcrest will act as the Manager with respect to the Tenement Blocks. After the Farm-in Period, the Participant with the majority Participating Interest in the Joint Venture will be the Manager of the Joint Venture. During the Farm-in Period, and prior to entry into a Joint Venture and the establishment of a management committee, the Parties shall establish a Technical Committee comprising of one or more representatives nominated by each of Newcrest and Greatland."

https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xp4py3x

Cheers - Paddy

Tarry - uisce beathá as Gaelige.

Uisce is Irish for water, and beathá is Irish for life.

So whiskey literally translates as the "water of life"