Member Info for PaddyGall

Morning MS,
I'm using 800m depth for my calcs and I'm hoping for 2.5 - 2.8 g/t Au Equivalent - 2g Au and 0.8g Au/Eq from the copper credits.

I'm hoping we will be hitting those grades at least - Paddy

I see what you mean JC - every possibility that there is a second rig there using the same sump??

Paddy

They will need to complete all 4 stages and complete the study for there 70% before they will give the green light - this has to happen so GGP can get the "fair market value" for the final 5% if NCM want to purchase it.

Kempey they are already pretty heavily into stage 2 of the farm-in (somebody at the AGM stated they had spent 40% of stage 2) and if they increase the drill rigs that will soon be gone and they are not even 1 year in yet.
NCM will get their 40% once the stage 2 spend is complete and then we go into the $25m stage 3. This is where the drilling will really ramp up as it's the prefeasibility stage - so expect a lot of infill drilling.
They may also decide at this point to sink an exploration decline so they can do the infill drilling from underground. The only problem with this is they need to find the best place to put the decline in as this would then be used for the mining proper - so until the find the extents then this may not happen.

No worries UR - It's like my baby now lol.
I prefer posting at the weekends - all the paid posters (rampers & derampers) seem to have the weekends off and it's usually a bit more sensible and polite.

The time-lapse gives you a great idea of the development of Havieron and the areas they are concentrating on as they go.

Cheers - Paddy

Hi JonesyLady,

I don't do charts and as the lads on here will tell you I don't really do SP predictions either - I just look at the fundamentals and the current and historical drill and survey data. I think that GGP are massively undervalued on Havieron alone never mind Scallywag, Paterson Range East, Panorama, Tasmania, etc, etc.

I'm hoping for double digits here but when that will be I don't know but I'm invested for the end game.

GLA - Paddy

@kempey - I have checked the boundaries of the farm-in from this image - https://greatlandgold.com/wp-content/uploads/2019/03/HAV_Project-Area_Sub_blocks.jpg

The Eastern edge is just inside the 460,000m line - the furthest East drill hole reported so far was collared at around
463,750m

https://greatlandgold.com/wp-content/uploads/2019/12/20191202_Havieron-drilling-update.pdf

so there are still comfortably inside the farm-in area.

Cheers - Paddy

@Jerry - surface area of the drill site from satellite images will be far bigger than the deposit area due to the angles they are drilling at. Have a look at this write-up by Salpetie - an Aussie geo.

https://hotcopper.com.au/attachments/havieron-dec-2019-pdf.1892628/?filename=HAVIERON+DEC+2019.pdf

He has used the plotted lines to come up with some sizes of what he thinks the deposit size might be. I'm still using 300m diameter in my calcs - might be conservative but I'm happy with the figures it's spitting out and if there's upside then well and good in my eyes.

GLA - Paddy

Hi UR - Very well thanks for asking,
Bit busy at work today so haven't really checked the board until now.

I'm pretty sure that the black blobs we are seeing are the spoil/sumps that are associated with the drill holes - look at the picture about halfway down on this page under the "exploration" heading - which incidentally is one of the Havieron drill pads.

https://www.newcrest.com/our-assets/asset-overview

As you rightly point out those 4 have been there for a while as you can see in the image from the 01/01/2020 - but if you look closely at the 2 that I've circled in today's image you can make out a whitish blob which I think will be the drill rig / caravan which is currently at work. These holes could have been started before the Christmas break and they've re-entered them now to complete them.

It's all just guesswork on my part but great to see that they have kicked off the work again so soon after the break and right in the middle of the summer/rainy season.

ATB - Paddy

Clearer image from the satellite this morning guys.

Even though there has been a tropical cyclone going through the area with scattered thunderstorms it looks like Newcrest are back at the drilling @Havieron - says it all.

https://twitter.com/paddygall1/status/1215910587034734592?s=20

https://apps.sentinel-hub.com/eo-browser/?lat=-21.72787&lng=122.65725&zoom=15&time=2020-01-11&preset=1_TRUE_COLOR&datasource=Sentinel-2%20L2A

GLA - Paddy

Whoops

I make it 13 more trading days
- we should get the NCM announcement on Tuesday 29th just before midnight and the GGP release @ 7.00 am the following morning.

Cheers - Paddy

Sorry Spratt - just jesting. Didn't you see the post from Jag1234 earlier - load of tosh.

They'll probably show up as delayed trades after the event tomorrow morning.

Can't wait for 7.00am - I'm not bothered about Havieron & Scallywag - we all know there's about 50moz + kicking around there.

It's the world class gold at Panorama that has me all excited - don't think I'll sleep a wink tonight.

See you in the morning campers - Paddy

https://greatlandgold.com/wp-content/uploads/2019/03/HAV_Project-Area.jpg

https://greatlandgold.com/wp-content/uploads/2019/03/HAV_Project-Area_Sub_blocks.jpg

Those two images on the website give you a rough idea on the farm in area. If you compare it to the overall licence you can get an idea of where the farm in stops in relation to the Scallywag targets.

And yes if they want to extend into new areas a new agreement would be needed.

Paddy

I think Havieron is the prospect the license is named after. If you look at some of the historical reports I linked to over the months at various times the license was named various things like Anketel, etc.

The license borders change all the time as sections and blocks are partially surrendered.

Chippy - the remaining areas of the Havieron license include Scallywag and right up to the border with Black Hills. None of this is included in the farm-in

Cheers - Paddy

The other thing I noticed was NCM was down 2.5% again last night - they now seem to be tracking the price of gold almost perfectly.
They went from a high on 8th August of AUS$38.87 to today at AUS$31.19. Interestingly the spot price of gold then was $1,497 to today at $1,547.

Why the big disparity and now it's at this level it's tracking gold.

I think after the AGM in November there were worries about the future pipeline of projects that NCM had coming online and the costs they would incur if Telfer had to be shut down. They would also be far more attractive to any predators at their current SP - They must be as desperate as us to get good news out on Havieron / Telfer asap.

Normally a major wouldn't be in any rush to get out the results (take RIO @Winu for example) but not in this case.

GLA - Paddy

For me the big difference when the gold price moves is it makes the cut off grade more lenient - they can include more of the marginal Oz's in the resource as it becomes economical to mine and process them.

This could be very important for us as we start to formulate an initial resource estimate.

GLA Paddy

Totally agree JC - NCM have said that Red Chris is anther potential Tier 1 but they are in the process of proving that up now so they weren't buying 20Moz just the POTENTIAL.

I think at the last update they had 3 rigs working at Red Chris (and that's at an operating gold mine will all the existing facilities) whereas they are hitting Havieron with 6 - which should soon increase again. Says it all in my book.