Member Info for PaddyGall

I only know as much as the next person who has done their homework on the share - should I have sold in the 30's and bought back now? with hindsight of course I should, but I decided to invest in the long term for the project whether that be buyout or mining.
I'm guessing that a lot of people were in GGP for a trade thinking that it was inevitable that NCM would buy us out so it undoubtedly got a bit frothy, then we've had the general weakness in the gold sector - even goldies like NCM that are reporting huge profits and record low AISC are down over 25% this year.

I'm not worried in the slightest in the long term - thankfully I don't need any of my investment in the short term.

GLA - Paddy

Have a look at the activity in and around the Saddle Refs area since the 14th June this year. Add to this the fact that GGP have applied for new access roads directly into this area. Can i hear the ducks quacking??

https://twitter.com/paddygall1/status/1427889999761088516?s=20

ATB - Paddy

I agree DM and looking at today's satellite image there is plenty of activity still up around the Saddle Reefs area in pretty much the same areas where GGP conducted their promising RC drilling campaign in 2019. They have been revisiting those sites over the past 5-6 weeks so it will be very interesting to see the results from the deeper diamond drilling when the assays are finally processed.

GLA - Paddy

Newcrest are managing the mine but that doesn't preclude GGP from contributing to the discussions / engineering solutions when the cave is being designed / built. Would you rather we just accepted the Newcrest slant on things and just sat passively - personally I want us to be an active and effective partner (albeit a junior one) in this development - it's sets us up beautifully and with the team that Shaun is building allows us to continue to grow and hopefully one day look at developing one of our 100% assets - IMO.

ATB - Paddy

With respect I don't think so @Redtrader - if Havieron is of the calibre touted then he will be up to his eyes for the foreseeable future. He would no way have taken the position if he thought that he wouldn't be challenged by the development.

Also we are not privy to any further prospects that may have enticed him to come on board either - whatever the reasons I'm more than happy to see Shaun building the team up - long may it continue.

ATB - Paddy

Havieron is roughly 45km to the East of Telfer as the crow flies, it's closer to the quoted 80km if you follow the route of the road that NCM have applied for.

Makes the much awaited PFS even more relevant and anticipated as the various methods of transportation will be debated and costed in there. A conveyor system on the shortest route could well be the eventual solution when they begin the bulk mining in years to come

ATB y

Newcrest decision to invest at Telfer is making the headlines bigtime.

https://stockhead.com.au/resources/monsters-of-rock-newcrest-approves-life-extension-at-telfer-as-havieron-awaits/

Good morning all from sunny Ireland,

Another passage in that article from the AFR struck me.

"The investment will buy Telfer an extra two years of life and may not have made economic sense if Newcrest and its partner Greatland Gold were not rapidly proving up a high-grade gold and copper discovery 40 kilometres away at Havieron.
Newcrest spent $93 million on a cutback at Telfer almost four years ago and the mine subsequently generated $US84 million of free cash flow (excluding interest, tax and intercompany transactions) in the 3½ years to December 31.
The mine was a cash drain in the six months to December 31 and may have been a cash drain over the full fiscal 2021 year given gold prices trended lower in the six months to June 30."

So NCM spent $93M four years ago and only generated $84M in free cash flow excluding tax, etc in the last 3½ years - this new ore is probably less economic that the last batch and yet they are prepared to plough $246M into this cut-back.

As Jerry says - this is the unofficial "decision to mine" stamped, sealed and delivered - roll on the PFS.

GLA - Paddy

Sorry should have said growth drilling won't be included in the PFS....

I see there seems to be a bit of opinion going about now that the PFS might be later than September as Sandeep mentioned.

I still think it will go ahead as planned - the infill drilling for the inferred to indicated was completed by the report at the end of January I think, Shaun has been at pains to explain that the PFS will be based on the initial MRE figure and he has now told us there will be an MRE update in early December. So all the growth drilling that had been undertaken this year will not be included in the MRE. We also know that NCM need to get the PFS out ASAP to support the decision that they have made to begin the decline and the mine infrastructure.

I'm still expecting it next month, hopefully with the interims on the 8th - less than 5 weeks away.

GLA Paddy

I think the NCM presentation this week could not be described as anything other than "bigging" up Havieron. They have been mentioning the additional targets in the exploration reports since the start of this year - I don't think it's any co-incidence that they chose the Diggers presentation to make these targets public.

NCM already have their 70% of Havieron sewn up - They will have to pay up the necessary amount for their 5% at FMV as assessed by an independent industry professional - that will set the benchmark for the remainder or we carry on as a junior partner in the biggest Tier 1 discovery in WA for a long time.

Either way - it's just a case of seeing it through to the conclusion.

ATB - Paddy

Hi all,

I have managed to get some time this morning (wet weather today) to plot the image of the new GGP/NCM targets on my Google Earth master file. The locations of these new gravity/magnetic targets are very interesting when overlaid with the Artemis gravity targets that were released by them earlier this year.

https://twitter.com/paddygall1/status/1423186542303002626?s=20

Bearing in mind that Fraser from NCM stated that the Havieron system seemed to be located on a NW trending diorite dyke and that he also mentioned that they "think" the Eastern breccia could be located on a similar dyke then looking at these new targets makes for a very interesting situation indeed.

Could it be possible?? I can't see Newcrest making that info public at Diggers & Dealers unless they had a high degree of confidence IMO.

GLA - Paddy

Remember the PFS is a lot more about the mining method, AISC, metallurgy studies, environmental studies, etc, etc than having an MRE upgrade although one would be most welcome.

GLA Paddy

PFS will be based on the current MRE shell with an upgrade of the MRE from inferred to indicated - hopefully this will be upgraded as the infill drilling seemed to expand the area.

The overall updated MRE will come in December as advised by Shaun on a couple of occasions now

Nice confident presentation by Shaun, much improved performance and definitely growing into the role.

Sounds like they are all over the metallurgy aspect and understand the changes that will be needed to be made at Telfer already to handle the Havieron ore efficiently.

Roll on the PFS - Paddy

Alarm set for 6:15 tomorrow morning, time to make a cuppa before Shaun is due to give his take on the Havieron and Paterson progress.

Looking forward to it.

Good night all - Paddy

Nice graphic by Bottle of the location of the access roads that Greatland have applied for in relation to our targets.

It's suddenly gotten very exciting again.

https://twitter.com/GGPHelp/status/1422503250566189069?s=19

GLA Paddy

Hi Reddirt,
Nice one mate, that's certainly an interesting development. There has been a lot of activity around the saddle reefs area over the past few weeks in the same areas where they drilled in 2019.
Obviously the access tracks that are currently there are suitable to get the rigs in position so why would they need to upgrade them now, hmmmmmm

Quack, quack, quack.

I wouldn't stress too much - the pressure is building up nicely. All this will be getting taken on board by the big hitters and when the PFS and eventual decision to mine is formally announced then we will see them lining up to take big positions in GGP IMO. So you either sit tight and wait for the inevitable or take your cash out and go play with it somewhere else.

Enjoy the day folks and don't sit here arguing with each other all day long - life is too short.

Cheers - Paddy

Morning folks, I stayed up to listen to Fraser last night and he was absolutely singing the praises of Havieron and GGP in a big way.
He said that they now believe Havieron to be located on a NW trending Diorite Dyke and they are drilling now to try establish if the SE crescent, Northern breccia and NW closure are all linked along this trend - no surprises for us really but good to hear him publicly acknowledge this.

More exciting for me was he mentioned that they think the Eastern breccia could possibly be aligned along another NW trend and they are trying to get a handle on this now but with limited drilling so far this has not been proven yet.

You've all seen the other pictures by now with the additional targets and he confirmed that the grades appear to be getting better at depth and are still open in multiple directions and at depth

All in all, a pretty decent presentation - LMAO.

It should be available to watch on YouTube later today or tomorrow

GLA Paddy