Member Info for PaddyGall

No worries Stout
I wouldn't want anyone accusing you of ramping
Paddy

Hi Stout,
Agreed that we are moving quicker than the time-frame in the farm-in agreement but just for clarity we are still in stage 1 - GH said in the last interview that NC would complete the minimum spend commitment during September ($5M) and then carry on with phase 2 drilling - this would still be part of stage 1 as they need to spend $10M before moving onto stage 2.

Remember they started at the end of May with 2 rigs and progressively increased the number - so it's taken them June, July, August & September to spend the first $5M - We now have a minimum of 5 (and some report 6) rigs on site with all the logging, data interpretation, etc that goes with those rigs so it's not going to take very long to burn through that second $5M and then it's onto stage 2 proper which is another $10M. NC moving onto stage 2 might be the catalyst that some II's need to see before they are prepared to jump in???
NC don't get any part of Havieron until stage 2 is complete when they get their first 40% - they won't stop there.....

GLA - Paddy

Yes - I'm partial to a few of those from time to time myself ??.
Not today though - unfortunately at work this weekend. Hopefully weekend work will soon be a thing of the past - come on GGP

Tom

Now's not the things for itchy feet - have some camomile tea, sit back and relax and wait for the fireworks (please God).
Paddy

Agreed JC. Hopefully the next update will give us a better idea on size and as for timescales - patience is the key.

GLA Paddy

Here's our analyst from Numis giving an interesting interview from the Denver Gold Forum.

Interesting comments towards the end of the interview about how the junior explorers are being funded and controlled in this cycle compared to the last one.

https://www.youtube.com/watch?v=EG_9WoA4cHI

GLA - Paddy

Hi GM,
I presume you meant "isn't" far fetched rather than "is" far fetched as you are normally bullish on GGP??

Hi guys,
I was just browsing around on the Numis website this morning and it looks like they issued a second note on GGP on the 10th September which was coincidentally the same day that Newcrest issued the last set of updates.

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

Surprising that neither Primorous or Proactive have publicised this fact - I assume that they would have access to the note as they publicised the first one.

GLA - Paddy

Tom - I hope that +$750 million is just fur Havieron lol - they would get my vote for that deal.

Sorry - tier 1 a minimum of 15 years

Hi Mickey

Yes mate - these would be annual amounts based on the minimum values that Newcrest use fur their tier 1 and tier 2 criteria.

Obviously again looking at their criteria for tier 2 we'd see these amounts for a minimum of of ten years and tier 2 a minimum of 15 years.

I think we're somewhere between tier 1 & tier 2 as we speak.

If you take Newcrests criteria for tier 2 - 200ktpa for >10 years this works out to a deposit of 2Moz minimum.

Tier 1 is 300ktpa for >15 years which works out to 4.5Moz minimum.

Numis reckoned in their note (which I thought then was conservative) that there would need to be a minimum of 3Moz to interest Newcrest in the first place and it's worth noting that this report was done before the last set of results which increased the step out considerably.

So personally that's where I think we are - as regards what the 30% may be worth to GGP (should we hold on to it) I reckon the following

As a tier 2 - 200,000 Oz @ AISC $900 @ $1500 = 200,000 x $600 x 30% = $36,000,000

As a tier 1 - 300,000 Oz @AISC $800 @ $1500 = 300,000 x $700 x 30% = $63,000,000

Very simplistic calcs and I know we would have to fund our portion of the cost of the mine but shows what is at stake here.

Cheers Paddy

Interesting reading on Page19 of the report - I've highlighted a few of the sentences in CAPS.

Newcrest’s Exploration team is applying innovative field-based analytical technology that enable geologists to make faster and better-informed decisions at the time of drilling. We are early adopters of high-resolution core logging technologies that provide consistent, reliable geological data, in near real-time, at the drill site. This technology means that we have decision critical data within hours.

“IT IS NOW POSSIBLE TO VISUALIZE OUR DRILLING DATA WITHIN AN HOUR OF ROCK BEING EXTRACTED FROM THE GROUND.”

Newcrest, working with key technology partners, have co-created new workflows in the automated mapping of drill cores. We have combined multiple core-based scanning technologies to maximize value from our drilling. The TruScan™ geo-analysis tool, developed by Boart Longyear, is designed to provide same-day continuous acquisition of high-density geochemical data.

“WHILE NOT REPLACING TRADITIONAL ASSAYS, THIS TECHNOLOGY PROVIDES DATA VITAL FOR OUR GEOLOGISTS TO MAKE MORE ACCURATE AND TIMELY DECISIONS, THROUGH FASTER AND SMARTER TARGETING”.

Our innovative way of mapping drill cores creates huge volumes of data. We’re analysing this data in new ways working with data scientists, mathematicians and computer vision specialists to embed real-time analytics and machine-driven geology-led predictive technologies –

“THIS IS TRANSFORMING HOW WE EXPLORE”

So even though we will only get assay results for drills done up to the end of September - Newcrest will have another months worth of real-time data available to them - all this data available and they keep bigging us up

Enjoy your weekend Greatlanders - Paddy

Look at that line in the report

"This potential option could transform the outlook for Telfer, potentially improving its financial performance and extending its life out beyond 10 years. "

Interesting to see what Newcrest define as Tier 1 & Tier 2 orebodies - See slide 55 in this presentation

https://www.newcrest.com.au/media/presentations/2019/March_Briefing_Book.pdf

They say that

Tier 1 - Potential for > 300 kozpa Au, Potential for > 15 year mine life preferred, AISC - <$800 , Significant resource or exploration upside likely

Tier 2 - Potential for > 200 kozpa Au, Potential for > 10 year mine life preferred, AISC - <$900, Moderate resource or exploration upside likely

If they are talking about extending Telfer out beyond 10 years then looks like we are nailed on as at least a Tier 2 and probably headed towards a Tier 1.

Less than 3 weeks to the next set of results. I can't imagine they would put any of this in their Annual Report if there was any whiff of bad drill results to come in less than 3 weeks - they would look like right old plonkers.

GLA - Paddy

Not much market reaction to the inclusion in the Newcrest report.

Tweet this morning from Primorus intimating the same thing.

https://twitter.com/priminvestments/status/1180012671795695616?s=19

Roll on the 24th - Paddy

He mentioned the rigs increasing to 6 in a tweet last week and now again in this official release to the ASX this morning......
I wonder where he's getting his info from as we have not had confirmation of this from either NC or GGP?
Anyway if it's true then Phase 2 of Stage 1 is well and truly underway and it shouldn't take them too long to burn through the rest of Stage 1 and head into Stage 2.
3 weeks and counting - GLA Paddy

Sorry link would be useful

http://www.ga.gov.au/geodesy/datums/redfearn_grid_to_geo.jsp

aandi
use this website - Enter the northing and easting values and I'm pretty sure it's zone 51 - this will then give you the long and lat.

I was trying to look at some satelitte stuff last week but couldn't find anything of use.

Paddy

24 October 2019 September 2019 Quarterly Results

http://www.newcrest.com.au/investors/key-dates

We should see the report roughly midnight on Wednesday 23rd October - it is usually released to the market early on Thursday in Oz and we will then probably see the GGP RNS @ 7.00am on the Thursday morning.

I was thinking the same thing about reddirt but now that Newcrest are driving the drilling then his buddy may not be in the "know" as much as before - not long to wait now - patience is a virtue Paddy

aandi,
Not confirmed by GGP or Newcrest but there was a tweet by that Ed Mead from Artemis last week that stated.

"Been in London for a day, and all the gold bugs are talking about Haverion near Telfer. Talk is about 6 drill rigs at Havieron and the size of the maiden resource Newcrest will deliver. Interesting times!."

If he knows what he is on about then perhaps there are 6 drills going there now - I'd love to see HAD001 and maybe HAD008 extended in the same manner that they did with HAD006.

Would they have enough to declare any sort of maiden resource estimate???

I would imagine that all the drills that we are going to get assays on will have been completed either by now or the next couple of days so our fate is now in the hands of the labs - GLA Paddy