Member Info for PaddyGall

If that is the case HAT then there must be a stronger & stronger case for the proposal that was put forward earlier this year to see Rio launch a bid for Newcrest. Would that be to our benefit or not??

Hi Christophe
I'm not an expert by any stretch of the imagination - as far as I am aware the application is purely for a license to explore for minerals as you have stated.

The licenses cost $ to apply for and once granted there is a minimum spend that must be spent on each license every year to keep it current. Therefore if not looking good then exploration companies can relinquish the license to cut costs. The last company to file anything that I can see were Reward Minerals which looking for Potash. There looks to have been a lot of exploration in this area in the past - as per Havieron and Black Hills but most of it seems to have been at lower depths and with the focus now on deposits at greater depths then licences in this area have become desirable again.

I'm guessing that Reward Minerals either relinquished the license or let it lapse and maybe we were first in the queue - there was a story last year where Artemis beat RIO to another of our neighbouring licenses by a couple of hours.

As HAT says it will be interesting to see what RIO intends to do at the Scallywag prospect and if there is a find there then all the surrounding areas will come more into focus.

GLA - Paddy

Thanks to Spy for bringing my attention to the application for another license in the Havieron / Black Hills area.

Just checking up on it this morning and it appears to be the license directly below the one that Rio have that borders our Havieron tenement. I have done a screenshot of it and here's a link.

https://drive.google.com/file/d/1Zma--mM5AjrqJPJQDGK4kZpp7fXq-yfS/view?usp=sharing

The new tenement looks to be a substantial size and is highlighted in blue. Rio Tinto own E 45/5351 which is the license which shares the Scallywag target with Havieron. E 45/4701 is Havieron and E 45/4512 is Black Hills. I will do some digging later and see if I can uncover any historical reports for exploration in this area.

GLA - Paddy

The last time we had action like this on a Friday afternoon we were informed that a big order was being filled and we then had the Primorous announcement the following week - seems like there is something brewing here - allegedly all sells and the price seems very stable.

Any ideas or opinions from the more astute peeps on the board??

Have a great weekend to all the Greatlanders - Paddy

I nearly put a "lol" on the end of the post by just remembered in time that they had been banned from this BB. In all seriousness - I think it's coming sooner than later. GLA - Paddy

That's the 3rd "code 1" in s week so I wouldn't put too much faith in it. Still on the law of averages we are due some news some day soon GLA - Paddy

Gold is up nearly 3% ($40 / Oz) this morning and heading towards $1400 and just saw that Newcrest is up a similar amount. Timing could be perfect if we get the assays that we are dreaming of - every day is a day closer..... GLA - Paddy

I'm not surprised HAT. If you look at the latest quarterly report from Newcrest it shows they had produced 623,000oz of gold.
If they are getting roughly $1,000 more per ounce than 12 months ago then that adds up to a substantial jump in profits.

Gives them more cash in the kitty to spend on exploration plays like GGP.

GLA - Paddy

Hi MS We need reddirt to confirm what he meant but he could have been talking about the core from rig 2 being on it's way in which case rig 2 would have been going for quite a while. Either way we should expect some news soon - by the way for anyone who believes in it I see another "1 trade" has gone through this morning. Paddy

Hi HAT,
When we read through that document that you linked to a while back I'm sure it said that only a percentage of samples were sent to independent labs to verify that the Telfer labs results were correct - might be wrong but that was my understanding from reading the report.
Paddy

Should be quicker as Newcrest will be able to process the assays at their own lab at Telfer. It depends whether we get the results of all 10 holes together (assuming 10 X 1000m) or if the first few are stellar we may get them staged. GLA - Paddy

Agreed MS That was my point - if NC want to continue onto stage 2 then the actual spend is going to be $10M over 12 months so there is going to be a whole lot more of activity IF they decide to carry on. I'm hoping reddirt's nod on the core is as accurate as before 🤞🤞 GLA - Paddy

I can't see them extending it too much if the first drilling is as good as we all hope for - NC well want the high grade ore for Telfer asap and they are on record as saying they will be aggressively drilling Havieron to determine the ore body size. Everyone is talking about the $5 million minimum spend but Stage 1 commitment is actually $10 million within 12 months from the farm-in start date so if the first assays are good we are gonna see a lot more activity in the near future. GLA - Paddy

Hi Spratt Thanks for posting - interesting read and hopefully news is getting out to a wider audience all the time. Cheers - Paddy

That's another point - I'm guessing it shouldn't be too much longer until we see some results from the aero magnetics on the Paterson Range East and perhaps some plans for MMI / IP surveys on the most promising of these. GLA - Paddy

Here you go MS Worth another full listen but they discuss the rigs on Havieron from 4 mins on. Cheers - Paddy https://youtu.be/W0unk2YMqZM

Hi MS I assumed that when he said second rig coming that he was referring to the core from the second rig. GH mentioned about the second rig in the interview that he did a while back - I'll try to find it and link to it again - the second rig was set up after so would make sense that the core from that one would be slightly delayed. Still waiting with bated breath - Paddy

You always fancied Firetower as a good bet Apples... Agree 100% that GH will be targeting the SP at 3p but if things are looking good the warrant holders may convert voluntarily anyway... Anyone know if the assays for Tasmania are done in Perth as well or is that just for the mines in WA. Hopefully they will be done more locally and at labs that aren't as busy as Perth. GLA - Paddy

Hi SB Glad to hear you are still on board. Best of luck to us all and please God we will all be smiling and toasting the health of GH, CB and all the rest of the GGP team in the near future. GLA - Paddy

I get that - I'd love to have an update myself this week but having been here for nearly 2 years now another few weeks is not the end of the world. I'm sure there's plenty here for double that time or even longer. I can see myself staying here for a good long time especially if things work out and we have a steady stream of income from the toll treatment at Telfer - prospect of dividends maybe in the future. GLA Paddy