Member Info for PaddyGall

Just reading through the Cadia expansion project document.

I know the AISC at Cadia is incredibly low - I checked in the annual report and for last year it was $171/oz. With gold @ $1,500 that gives them a margin of over $1,300 per oz produced.

What I didn't realise was the average grade in the indicated resources is 0.37g/t (from the annual report) and will stay roughly the same going forward looking at page 5 from todays report.

http://www.newcrest.com.au/media/market_releases/2019/Cadia_Expansion_Project_Oct_2019.pdf

All the experts so far have been talking about using a 2g/t value to work out resources at Havieron - my question is if Newcrest can extract gold from average grades of 0.37g/t @ an AISC of $171 at Cadia then why would that not be possible at Havieron also?

Are we setting the bar too high at 2g/t when lower grades can obviously be mined economically provided the orebody is large enough to warrant the initial outlay for the block cave infrastructure?

GLA - Paddy

Definitely mate,
We'll see if we can get GH to stump up for a couple of rounds for us all.
Cheers

Cheers TomE,

Either the 3rd or 4th would suit me as I'm working the weekend before and after so should be able to make it.

GLA - Paddy

aandi,
I don't think they've announced a date this year but last year's was on the 4th December.

I didn't attend but I know some others on here did so perhaps they can fill us in on the protocol!!

Hi Redirons,
Thanks for the comments - I've been here just over 2 years now myself - I bought in without doing too much research back in September 2017 and got caught up in the euphoria at the time. I got locked in and averaged down after the "unmentionable event" but then started to research in a bit more detail with helpful pointers along the way from other more knowledgeable posters than me.
I don't really have a time-frame on the long game - I guess I just mean I don't trade and am prepared to wait for things to play out - if it means a buy-out then that will be out of our hands, but I'd love to see us hold onto our percentage of Havieron and if it is a Tier 1 as we hope we could see an income coming from GGP for the foreseeable future.

In this age of low interest rates and crap returns this would be my ideal scenario - keep all my GGP shares tucked away in ISA's and SIPP's and use the income to supplement whatever other returns other investments can generate.

I haven't been to an AGM yet (hoping to make this years) and haven't had the pleasure of meeting either GH or CB but others who have seem to rate them as a team and to be fair over the past 2 years I can't find too much to moan about.

Good luck whatever you decide to do - Paddy

Agreed Looking,

Newcrest seem to be an incredibly well run business - the funding of the expansion is coming from FCF and is securing the future of it as a Tier 1 mine for many years to come.

They seem to go about their business in the correct manner and that and the fact they've been shouting about Havieron from the rooftops since the start of the farm-in gives me a nice fuzzy feeling as well

The SP will do what it will do from day to day but eyes firmly on the long game and the big prize.

GLA Paddy

I guess the other takeaway is that Newcrest can drop news at any time so even though we're expecting exploration updates at regular intervals there's every possibility that Newcrest could drop them unexpectedly - so trade this share at your peril

GLA Paddy

Have you guys seen the big announcement by Newcrest today about the extension of the Cadis mine?

https://www.newcrest.com.au/media/market_releases/2019/Cadia_Expansion_Project_Oct_2019.pdf

Interesting timing don't you think what with the quarterly update coming next week?

Are they clearing the field for some other big news next week????

GLA & DYOR Paddy

We must be due news on the ground gravity and surface geochemistry surveys which were due to start on the Paterson Range East in August as detailed in this RNS from the 15th July

https://greatlandgold.com/wp-content/uploads/2017/03/20190715-GGP-Announcement_Paterson-Range-East-Aeromagnetic-Targets.pdf

"Modelling of high-priority aeromagnetic targets within the Paterson Range East licence is underway and these will be subject to detailed, grid-based ground gravity and surface geochemical work. Comprehensive ground gravity and surface geochemistry is scheduled to commence next month. Detailed aeromagnetic and ground gravity information will then be
modelled with modern 3D inversion techniques and subject to a multi-stage screening process which may include IP (Induced Polarisation) and/or EM (Electromagnetic) follow-up geophysical surveys. Drill testing of selected targets will then be undertaken."

I've been looking at some of the images from the Aeromagnetic & Magnetic Intensity surveys that have been done - here's a document showing the similarities between Havieron & Outamind in the PRE.

https://drive.google.com/open?id=1Lo1mMVfCWcHrqx3gL3_wyFvSA_MOuxnc

GLA - Paddy

Come on aandi - we need you guys to beat Japan so we get SA in the quarters - whatever about SA - I don't rate our chances against the All Blacks.

aandi
looks like they are proper peppering the area's to the East & North of the original HAD001 - exciting times - It's great to be able to see the progress every 5 days - let hope there's not too many cloudy days going forward.

Can't wait for the 24th - Paddy

We all know that JC meant Newcrest - Dooohhh!!!

I would think that GH with his experience from a financial background will have something up his sleeve to facilitate this Jerry.
There was a paragraph towards the end of the article by Proactive discussing the Numis note that said.

"Will Numis assist in those small equity raises, if and when required? Maybe. But you have to reckon that the real reason Numis is getting involved is because it foresees a big financing for Havieron down the line."

https://www.proactiveinvestors.co.uk/companies/news/901330/numiss-coverage-of-greatland-gold-is-a-harbinger-of-greater-things-to-come-901330.html

The 5% at fair market value should be a good chunk towards it - maybe he could do a deal to sacrifice a few years of our 25/30% profit to go towards the costs.

There are plenty of options available to him - I'm sure he will have something in mind.

GLA - Paddy

MS
Totally agree with you on this matter - I mentioned divis a while back and was laughed at as we are just an explorer. Peeps said to sell shares of you wanted income.

If we can hold onto 30 or even 25% of Havieron going forward them I can see 20/30 years of guaranteed income - that's going to be priceless and if gold goes up anywhere near where it meant to the divis alone could be more per share than it Mcap at the moment.

Long game is where the mega value is at.

GLA Paddy

Nice work Aandi - it's definitely not too late for a beer - I'm on my third San Miguel of the night. I've had a play with the sentinel website also but not had a look at the time lapse videos yet - the images should be updated again on the 13th and again every 5 days so we should be able to keep an eye on progress as we go.

Have a great weekend - Paddy

The other thing I've noticed when looking back through the images over the past couple of months is the step-out holes on the East side are getting progressively further - you gotta ask yourself - would they keep stepping further out if they had come up with a duster?
I guess it's possible if they got a duster with good downhole geodata that they would step further out to check but I would have thought that would be part of further campaigns - I would think at the moment they would just keep going to find the edge and then decide from there - all speculation & guesswork on my part so if there are people who can say otherwise then please feel free to put me right.

GLA - Paddy

aandi,
Here's my effort at overlaying the reported drill holes onto the latest satellite image. I've used the "false colour" filter as the ground disturbances seem to stand out a little better from the background.

I've circled what look to me like new holes since this last report on the 10th September - admittedly I've used the Sat image from the 8th October so probably at least one of these won't be reported.

https://drive.google.com/file/d/1jyYoRplaADG_lA7IVlt_jNz1KQ5ckvWA/view?usp=sharing

GLA - Paddy

You see Roly - I can't even give you a thumbs up for a bit of weekend humour - this day 2 weeks from now should be a lot busier on here.

Anyone else having problems with the LSE site.
Seems very unresponsive and when I hit the recommend button nothing has been happening for the last few days??

Move along sir - nothing to see here!!!!

Happy weekend Greatlanders - Paddy