Member Info for PaddyGall

More likely "MonsterS"

I found this old Diggers & Dealers presentation from 2009

https://hotcopper.com.au/threads/ann-diggers-n-dealers-presentation.951641/

Interestingly the presenter then was also a Mr Day but Geoff

Anyway they have a great slide on there that shows the Telfer focus points that they were looking to exploit in the coming years namely, the VSC in the main dome underground, the West Dome Deeps, O' Callaghan's and the Camp Dome.

We know that of those 4 prospects Newcrest only ever proceeded with the VSC in the main dome underground. For whatever reason the other prospects have been left on the shelf gathering dust until the next Mr. Day came along. It's easy to see why Shaun was so thrilled to get his hands on not only Havieron but Telfer and the rest of the prospects within the Newcrest land package.

Exciting times for all shareholders - ATB Paddy

Pete who 😂😂

Been doing a bit of digging (excuse the pun) on the Desert's Revenge prospect that was mentioned in the September exploration update and found some interesting information in some of the old reports back from 1996/1997.

Here's a link to the report which contains the report and a zipfile with the drill collar location and intercepts for DR33501 which shows 3m @ 145g/t

https://wamex.dmp.wa.gov.au/Wamex/Search/ReportDetails?ANumber=50249

I managed to roughly position that hole on Google Earth - see my tweet for some images

https://x.com/paddygall1/status/1998054936605598124?s=20

The interesting thing was the conclusions & recommendations section which recommends deep diamond drilling to test the area for high grades at depth - the drill above that found the 3m @ 145g/t from 102m stopped at 113m.

From later reports I can see that the deeper drilling that was recommended was never carried out - remind anyone of a similar situation on another deposit around the same time?

I'm assuming that Greatland will be sticking some deep diamond tails into that area in the not too distant future otherwise it would have been pointless to even mention it in the exploration report - anyone for another biggie that Newcrest missed??

GLA - Paddy

From the table on Slide 29 of the feasibility study presentation there is a comparison of the Telfer fixed costs vs the costs of a standalone Havieron project using the Telfer processing facilities and let’s face it – we are pretty confident the Telfer mine will still be producing ore and getting processed concurrently with the Havieron ore

Telfer fixed costs vs Havieron standalone

Processing $17.09 vs $36.64 or a saving of $19.55

Site Services $6.22 vs $10.50 or a saving of $4.28

Sustaining Capital $3.82 vs $9.70 or a saving of $5.88

Total saving - $19.55 + $4.28 + $5.88 = $29.71

These costs are per tonne of ore processed – and Havieron head grade for steady state is 2.47g/t.

Therefore to produce an ounce of gold we would need to process 31.1035 / 2.47 = 12.69 tonnes

If the savings above carry over then we are looking at a lower AISC of 12.69 x $29.71 or roughly $377

That could bring the steady state AISC down from A$1725 to A$1348 or US$885

Only my interpretation of the table and am open to other opinions and please DYOR

GLA - Paddy

It's out already

https://www.youtube.com/watch?v=xAQ6Cgm4NcU&feature=youtu.be

ATB - Paddy

GGP has released the feasibility study for its Havieron gold-copper project in Western Australia. The key highlight was the pre-production and life of mine capex coming in 30% lower than we had expected. Unit costs were also 7% lower than we had forecast. The beats on costs and capex more than offset slight variances in production rates of 266kkozpa and 9.6ktpa vs our estimates. Securing the final environmental approvals, which are expected in the 2HFY26, remain the final hurdle for the project. We have adjusted our base case assumptions for Havieron to broadly match the feasibility study but retain a larger mining inventory as we expect more of the resource to be converted over time. The changes to our Havieron base case and movements in spot gold prices drive 12% and 13% upgrades to our ASX and LSE price targets to A$12.90 and £6.20, respectively, and we reiterate our BUY rating.

First paragraph from the Argonaut note

Hi @howezap - not wishing to answer for Bamps but in the AGM recently Shaun stated the following

"Stage seven is a two-year life extension.

The volume of stage two is a really significant multiple of that, of that volume.

The size of the prize that we're currently drilling out on stage two extension is tremendous.

And right now, that that shape, that blue shape that you can see is not limited by mineralization.

It's limited by the extent of drilling that we've completed.

So, we think this is really significant.

We're undertaking both expansion drilling and infield drilling on that West Dome open pit. But that will continue to be, we view the base load feed for this mine.

The main dome open pit. We have cutbacks available particularly on that on that rear wall there, that’s, there's good strong mineralization up there and there's already a cutback there, but we'd like to get a couple of rigs there, later this year to understand, sorry, in calendar year 26 to understand that opportunity. But we don't think we need to access main dome for a considerable period of time given the opportunities at West Dome."

I don't think there will be any shortage of ore from the open pits in the foreseeable.

ATB - Paddy

It's the Aussie gold price at +A$6,400 that looks very appetising to me - lots of commentators expecting gold to consolidate and push forward from here into year end, should be a stunning quarterly earnings report & call at the end of January.

We've been a little unlucky that the last two quarterly reports were released just as the gold price was cooling off after gains so it would be only fitting that the DFS should be released into a period where the gold price will (hopefully) be rising and getting bac to testing the ATH's.

Here's to a great December to round off our first full year as a producer and set us up nicely for a "ripper" year in 2026

ATB - Paddy

Https://youtu.be/Fzu1mpTDrq8?si=cXtB3P5KFc12nsxo

It may be a bonus but it certainly is not a surprise - the drill holes into the west dome deeps were reported by Newcrest in the early 2000's right up until around 2013 when they decided to focus elsewhere

Just because neither NCM or NEM wanted to allocate capital to chase it didn't mean it wasn't on Shaun's radar. He has been chasing this opportunity ever since he set foot in the door at GGP - admittedly the size of the prize is getting bigger that he would have hoped perhaps but all the clues were there and for a guy who has seen this done multiple times with other mid-tiers it was a calculated risk worth taking.

ATB - Paddy

Hi @Rockfall - thanks for the clarification, although we all know that the current depletion in 2027 is going to be extended dramatically when the Telfer resource & reserves are updated in Q1 & Q2 2026

There has been an update to the Telfer/Havieron proposal on the EPA website overnight which incorporates the variation to the proposal which I spotted last week.

There are some figures in the document - most interesting one is Figure 9 which shows the position on the new permanent camp at Havieron

And at the bottom of the proposal element table there is an entry that adds a casual estimated 18 years to the already 25 year mine life to now give an estimated mine life of 43 years - Wow

https://www.epa.wa.gov.au/sites/default/files/S43A/S.%2043A%20Notice%20-%20251125.pdf

https://x.com/paddygall1/status/1993603307831484799

ATB - Paddy

There has been an update on the environmental website published last week.

Nothing earth shattering - Greatland have applied for extra clearance areas to mitigate against any issues with the night parrot & greater bilby habitats mainly when they start to develop the road between Telfer & Havieron.

The application has been approved by the department - as I said nothing earth shattering but shows the process is chugging along in the background.

https://epbcpublicportal.environment.gov.au/all-referrals/project-referral-summary/project-decision/?id=8d6014a3-099d-f011-bbd2-7ced8d339a3f&refentity=incident&refid=4664b7df-5d35-ec11-80d1-00505684c563&refrel=mara_projectdecision_project_Incident

ATB - Paddy

No drama

- Aussie Spot is still > A$6,300/oz

- Copper is still trading in and around the US$5/lb mark

- Greatland are steadily adding to that cash balance every day

- Havieron DFS is another day closer to release

- The drills are turning every day up to the 31st December cut-off point for the Telfer resource/reserve updates

and all the other works to advance the permitting / planning of both Havieron / Telfer / other exploration tenements is carrying on merrily in the background. Once the team delivers (and they have not given us reason to think they won't) then everything will fall into place, even if the gold price stays static or even drops from here.

Never been so relaxed about my investment (not trade) in here.

ATB - Paddy

Good blog and write up on Greatland Resources by this independent investor.

Explains his valuation methodology and where he thinks GGP could easily end up in the next 12 months - well worth 5 minutes of your time.

https://josephnoko.com/the-mirandolan/

ATB - Paddy

From the EARS regulatory report that was lodged by GGP on Havieron in late October.

https://ace.dmp.wa.gov.au/ACE/Public/ComplianceSubmissions/AerPopupSubmissionPublicView?id=74499

"The Havieron Feasibility Study is progressing and remains on target for a December quarter 2025 release to market. The Havieron project includes 131 Mt in Resource (Figure 3) and the Reserve will be updated with the Feasibility Study to support a multi-decade operation. The Havieron LOM plan will be integrated with the Telfer LOM plan by 2H FY2026."

So we can take it as read that the Havieron reserve will be updated as stated by E1 & Bamps - interesting line for me is the "Havieron LOM plan will be integrated with the Telfer LOM plan by 2H FY2026" - that is June quarter 2026 which is coincidently the same quarter than we will be having the JORC compliant Telfer reserve released.

Should show a multi-decade operation for both projects running in parallel - ATB Paddy

We deffo don't want anymore morons on the board

Aussie gold still comfortably above $6K/oz - average realised price last quarter was A$5270ish, I think we can be quite comfortable with the direction the Q4 earnings report is heading.

More comfortable than I've ever been - ATB Paddy

Monday 1st seems about right provided all the T's are crossed and the I's dotted by then.

Shaun & team will no doubt have a lot of media & broker/investor meetings in Perth whenever it i released and then he has committed to a trip up to London to booze & schmooze up here and meet the PI's in a TH prior to Christmas. Any later than the 1st and things will get tricky for his trip up North.

ATB - Paddy