Member Info for PaddyGall

Well one thing we can't accuse the board of is sitting around doing bugger all like some of our contemporaries...

Only 2 holes to 125m each. That won't take too long to complete. Hopefully they have somebody lined up to take it and swell the coffers a bit.

That's the starter - now for the main course .......

GLA Paddy

Targeted, low-cost diamond drilling programme at Derby North prospect to provide additional geological data and assist with potential project divestment

I'm guessing this means they are finished at Firetower and relocated the diamond drills to Warrentina??

Drilling at Warrentina to help with project divestment...
Do they have someone lined up??

GLA Paddy

As Owlo said last night they are now actively advertising that Telfer is very much open for business as opposed to the winding up that they were speaking about up until very recently. The paragraph below is the exact wording from the website now.

"Telfer’s near mine environment contains a number of exploration targets with the potential to deliver new growth with a number of other prospective gold and poly-metallic deposits in the area covered by Newcrest’s existing mining and exploration tenements."

I mean it's the in black and white - as lightbulb says we just need to see the size now. I'll be logged in to listen to the AGM tonight - hopefully Havieron and Telfer will be picked up in the Q&A session at the end.

GLA Paddy

The Newcrest website has had an overhaul this evening.

Look at their Assets Overview page - https://www.newcrest.com.au/our-assets/asset-overview

Scroll down to the Exploration heading and look at the photo that they have decided to use - could be purely coincidental ???

GLA - Paddy

Interesting to look back at this interview from October 2017

https://www.proactiveinvestors.co.uk/companies/news/278892/where-are-we-in-the-mining-investment-cycle-28892.html

Hi jon,
I think these holes further out are targeting both the east/west extremities but even more importantly they are designed to test the depth. I think the one furthest out east is 140m further east than HAD015 so if that also is drilled at 70 degrees westwards then it will be substantially deeper when it gets to the west side of the mafic dyke.

I've checked back through the satellite images and the first date that hole appeared was the 28th September so that a minimum of 6 weeks ago. Stands a good chance that this hole will be included in the next set of assays whenever they should be.

Also the other extreme hole on the west side first appeared on the 18th September so again we should see the results of that in the next set.

Fingers crossed - GLA Paddy

Timid, I don't think it's possible to have colours for different grades but there is a "cutoff" tool. If you move the slider up it removes the intersections with the lower grades - gives you an idea of the higher grade areas.
Agreed that we are going deeper - that's the inevitable scenario of the step-outs being drilled back in @ 70 degrees - imagine if we get a curve ball and one of those step-outs is drilled vertical......

What's your gut feeling about whether we will get any update prior to the NCM AGM on Tuesday morning?

The next set of satellite data will be interesting as we will have 10 days since the last update - this is the message on the sentinel hub website today.

Copernicus Sentinel-2A production resumes
08 November 2019
Following yesterday's news, an intermediate solution was put in place that allowed nominal production to resume for Copernicus Sentinel-2A Level-1C and Level-2A products as of orbit 22863 with sensing time 21:47 UTC on 7 November.

The plan for recovery of the missing production remains, pending the full resolution of the contingency, and an update will follow once this is confirmed. We apologise again for the inconvenience caused.

So it looks like we should get data from Havieron on Tuesday at the latest ....

Have a butchers at this again.

https://corebox.net/properties/havieron/main-zone

Imagine what it's going to look like with another 15 sets of drill assays included.

I agree that formally the next set of results would be due with the quarterly update in January - however they did an interim set of results between the last two quarterlies so roughly 6 weeks after the June report.
Also there was a lot less drilling to report on then as now with 6 rigs running they must be sitting on quite a lot of data.

The AGM is Tuesday so a possibility that there may be news tomorrow or if not perhaps mid December which would be roughly halfway between the quarterlies?? Either way there is gonna be a sh*tload of results going to be coming our way...

@Rolyclan - I'm pretty sure it says in the JV agreement that NCM will act as the Manager of the tenement blocks - I guess that gives them carte blanche as to when and where to drill and when they want to release drill updates. If GGP haven't got official assay results from NCM then officially there's nothing for them to release to market IMO.

GLA - Paddy

desert,
There was a problem with the data acquisition from the satellite which meant the last update on the 7th is still not available - I'm keeping an eye on it to see if they post it retrospectively. They say they have fixed the problem so the next set of data will be available on Tuesday anyway.

Cheers - Paddy

Just had a look at the Sentinel Hub news and it seems they have a technical problem with the data - message below.

Unavailability of Copernicus Sentinel-2A production
07 November 2019
A ground segment anomaly has been affecting the nominal production of Copernicus Sentinel-2A data since 6 November, preventing the availability of about 30% of all new Sentinel-2A acquisitions since sensing orbit 22827.

The anomaly is under investigation and a news update will be published once the issue has been fixed. We apologise for any inconvenience this may cause.

Typical that the 30% affected would include Havieron - GLA Paddy

Sorry guys - that didn't work as I thought it would.

Zoom into the Havieron area and enable the satellite image on the browser or here is a screenshot of the area.

https://drive.google.com/open?id=1WNaRPrZ-u5YUKy_F7LakPsmSDeoc6jhv

Cheers - Paddy

The latest satellite image is still not available on the Sentinel website. I was having a bit of a look about and found that apple maps has a more recent high definition image of the area than google maps.

Looks to me it might have been taken after GGP had drilled their 9 holes prior to NCM starting.
Not of much use but nice to see

https://duckduckgo.com/?q=Telfer+Mine+Road&t=hk&ia=web&iax=about&iaxm=maps&strict_bbox=0&bbox=51.51007958440866%2C-0.28103787092057075%2C51.50109643156746%2C-0.25839912907945006&metatoken=0

Cheers - Paddy

I think Newcrest could really do with a bit of good news before their AGM next Tuesday - their SP took another nose dive by over 4.5% yesterday. They've now dropped from AUS$39 in August to just under AUS$30 today.
I know the gold price has dropped to $1470ish but it seems that NCM have been in freefall over the past week.

The points in the report make compelling reading

- Subject to a successful exploration programme and feasibility study, Havieron may provide a supplementary source of
higher-grade ore for Telfer.
- The Havieron project matches Newcrest’s deep mining capability
- its proximity to Telfer positions it ideally to take advantage of Telfer’s existing processing capacity

News could drop at any time - don't be caught with your pants down....

GLA - Paddy

I like the paragraph on page 25 -

Our
approach
Newcrest’s 2020 aspiration is to have
exposure to five Tier 1 orebodies.
During the year, we made significant
progress towards this aspiration whilst
maintaining our consistent approach
to growth.

And right below this paragraph where they talk about significant progress make towards tier 1 assets we have a picture of the drilling at Havieron.

GLA Paddy

Hi UR,

Nice find mate - cracking picture of the camp at Havieron.
I just did a search for Havieron in the document and it's mentioned 8 times and see page 12 - mentioned alongside Red Chris on one of the big headers.
AIM might not believe in Havieron but it looks like Newcrest are more than happy to big us up.

Could be more news before the AGM????

GLA Paddy

Very good point Christophe. I will dig out the coordinates of the original hole and check for any recent activity in the area.

Cheers Paddy

Hi MS,

I only listened to the interview briefly earlier and couldn't make out the last bit myself.
Listened a few times tonight at home with the headphones.
Firstly I find it very interesting that he mentioned the final results at Black Hills without any prompting at all from Andrew - I've listened carefully and I think he says "we're waiting for the final results and we hope to have "much" to say about that as well"

As regards the rest of the RNS it was pretty much what I expected but I thought that "Outamind" would be the initial high priority target. I had a good idea from the historical reports I've looked at that this is another case of Havieron, Scallywag, etc in that Newcrest had drilled but not deep enough.

It will be interesting to see if RIO has done the drilling that they got funding for at Budjidown this year. That is another tenement that Newcrest drilled back in 1995/1996 but didn't deem it economical. That is the ground that GH referred to in the interview.

https://www.miningnews.net/discovery/news/1363597/rio-gets-eis-grant-for-paterson-drilling

Not surprised that it hasn't affected the SP at all but I'm also in for the long term so not really too bothered.
All looking good as far as I'm concerned.

Patience, patience and then more patience required.

GLA Paddy