Member Info for PaddyGall

For anyone interested in some research on GGP tenements - I have managed to find some old exploration reports from 2002/2003 for our new license in the Paterson.

https://geodocs.dmirs.wa.gov.au/Web/documentlist/10/Report_Ref/A67137

The Tabletop 1 anomaly that is described in the Appendix 1 of the second report is the large one that is shown on the map of our license application. There are some pretty 3D modelling images of the interpreted gravity anomaly that sits above a magnetic anomaly (where have we seen a co-incident magnetic/gravity anomaly before I wonder).

This paragraph caught my attention -

In contrast modelling of the magnetic data showed that the source of the Tabletop1 magnetic anomaly is the order of 1250 metres deep (see Haynes 2001(a), and Figure 10). Hence the source of the Tabletop1 gravity anomaly is shallower than that of the magnetic anomaly, yet directly overlies it. Therefore this dense source is a quality target for:
(i) Olympic Dam-type mineralisation, and/or possibly
(ii) Telfer-style mineralisation

And then further down.

"In terms of Telfer-style mineralisation it has been suggested that the gravity anomaly may arise from sulfides within sediments above an intrusive source. While this is possible – with a density contrast of 0.05g/cc indicating that approximately 1.1% sulfides could give rise to the gravity anomaly, it is noted that no gravity anomaly is evident over Telfer, nor is it directly underlain by a magnetic intrusive (Sexton, 1994)."

Well we now know that Telfer-style mineralisation with a sulphide magnetic/gravity signature is eminently possible from our experience with Havieron.

All in all - it looks like Callum has turned up another first -class prospect in the Paterson.

GLA - Paddy

The latest Sentinel update is available this morning - nice clear cloudless image for a change.

https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=-21.72566&lng=122.64549&themeId=DEFAULT-THEME&datasetId=S2L1C&fromTime=2021-02-19T00%3A00%3A00.000Z&toTime=2021-02-19T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c

The second cut into the box-cut seems to be progressing nicely - they appear to be about 2/3rd's along the length of it but it obviously gets wider towards the portal entrance so plenty to do there.
Maybe Bamps might know roughly what sort of depth they would excavate at each cut as they dig progressively deeper.

Lots of other clearance work going on for the various bits of mine related infrastructure also.

It's a little difficult to make out which drill pads are active at the moment as all the older sumps appear dark from the recent wet weather that they have had, as the inactive ones start to dry out then it should become a little clearer but suffice to say they are not hanging about - 65,000 metres by the end of June means their productivity will need to be maintained 24/7 for the next 4.5 months.

ATB - Paddy

There are other forces at play here as well - good post by Pr0t0n on ADVFN,

Just as a matter of interest:

6th of January POG was $1950, GGP share price was 34p, GDXJ $58
Today POG $1775, GGP share price 21.5p, GDXJ $47

Sentiment in this space will change - it's only a matter of time, GGP is so well positioned to take advantage when this happens and before Bamps or Mickey gets my case don't forget the copper, now at $3.9/lb and rising.

ATB - Paddy

Spot on Bamps - great post,

The problem is - a lot of so called "investors" haven't got a time frame of 12 days in mind - never mind 12 months.

Still holding and sitting on the handies - 52 months and counting, bring it on - Paddy

I'm pretty sure that's why Newcrest are currently digging a great big hole out in the middle of the Australian desert.

How long until the first gold is poured at Telfer from Havieron ore? before the end of this year IMO, it will be longer to commercial production but resign yourself to the fact that it's gonna happen.

ATB - Paddy

I've managed to find a release from an ASX company Province Resources Ltd (they used to be SVD) who own the tenement next door to our new license application.

https://company-announcements.afr.com/asx/prl/30196ea3-5e8a-11eb-9b84-c691b01126ef.pdf

They have a bullseye target on their ground also and they have got some magnetic and gravity images on this presentation. It's worth noting that the target on their ground looks a lot smaller - looking forward to seeing what the interpretation of our targets looks like as they work them up.

GLA - Paddy

Hi Reddirt - great to hear from you, I hope you are keeping safe and well.

Tried to research a bit on that tenement but the Tengraph & WAMEX websites are down for maintenance this weekend.

Havieron looking better & better every day - excited to see what Newcrest meant with their mention of other targets on the Havieron JV project - watching out for any unusual satellite activity over the coming weeks.

ATB - Paddy

Nice clear image from Havieron today on planet.com - seems like the topsoil has been completely removed from the box-cut and you can see the change in colour as they have started to excavate deeper at the mouth of it.

There appears to be a drill-rig positioned just to the NE of the box-cut, I think Strudel or PQ alluded to it earlier. Seems a strange place to be drill testing unless it is some sort of geo-tech hole to get some additional data for the decline - having said that the decline goes straight for a bit and then veers towards the East so perhaps there is something worth looking for in that area.

https://twitter.com/paddygall1/status/1362109496601042950?s=20

GLA - Paddy

Just imported the new tenement application into Google Earth to get an idea of the location in relation to our existing licenses.

https://twitter.com/paddygall1/status/1362003190045155335?s=20

It's roughly 170km to the SE of Havieron, I will have a look later to see if there are any historic drilling reports from that area.

ATB - Paddy

It is included "sort of" in LA's calcs as he's using 4.2Moz which includes the copper as Au equivalent ounces.

Hi MS,
Not in Australia to my knowledge - but they are majority operators on mines obviously at Red Chris where Imperial have been kept in a 30% minority position.
Sandeep seems to be driven by ROI when he spends the NCM cash and whether the ROI that they would achieve by purchasing the remaining 30% of Havieron would be worth it or not remains to be seen.

Loads to play for here - either way it works out the SP is well north of here - Paddy

Watch it again JET - they are treating it as a fatality incident because potentially that "COULD" have happened. The truck operator drove off whilst another operator was climbing the ladder up into the cab.

If you believe that is about to happen then you should be buying as many GGP shares as you humanly can, imagine what will happen to GGP's SP the moment there is an sniff of NCM building a stake to the point where they will launch a takeover bid.

Personally I don't see that happening (at least not in the near future) - we will be around until at least the PFS is complete towards the end of the year and then we'll see what develops from there, with 65km of growth & infill drilling to be completed before the end of June - that PFS is going to be a very nice juicy number which will make our 30% worth a very very tidy sum - but WTF do it know.

Not a ducking clue RRR, and I'm almost past caring now, I find the whole thing laughable even though my paper profits are down in the 7 figures from the post Christmas high. Admittedly my average is less than 2p so I'm still quids in.

I have unshakeable faith in GGP and the project from hundreds of hours of research and evidence that I've gleaned from people with far more knowledge in the field than I. You know what my position is but everybody should DYOR and trade accordingly.

GLA - Paddy

Wouldn't want to be out over the weekend - PMSL :-)))).

Enjoy the weekend folks - new satellite image on Sunday, weather permitting.
We're another week closer to pouring the first gold from Havieron.

ATB - Paddy

Nice section on the Havieron box-cut in the update video from Telfer this week just released.

https://twitter.com/paddygall1/status/1360248320497766408?s=19

ATB Paddy

Here's another interesting exchange between Mathew & Sandeep.

Mathew Hodge

Yeah. That’s fair enough. And, just a reminder, just what more needs to be done before we get into production at Havieron, what are the key milestones and the timetable there?

Sandeep Biswas

That’s a critical part always the decline, because once the decline is done and the ventilation shafts in and what have you, because it’s a top-down method. Let’s assume it was just long hole open stopping or something like that. You can just get into it straight away.

I would highlight the last sentence in Sandeep's reply - "You can just get into it straight away". So they are talking of 2-3 years from the start of decline to the start of commercial production - I would wager a month's money it will be closer to 2 than 3 and as NCM have broken every timing record on this project up to now it's not beyond the realms of possibility that it will be less than 2 years from now.

I think I have a bit of a man crush on Sandeep TBF - ATB Paddy

New vacancies for a "Senior Surveyor - Mining" and a "Surveyor - Mining" for the Havieron operation have been advertised on the NCM website tonight.

https://www.newcrest.com/careers/current-opportunities

Staffing up for the big push to production - ATB Paddy

There is a complete transcript of the NCM call from last night available on seekingalpha.

https://seekingalpha.com/article/4405157-newcrest-mining-limiteds-ncmgf-ceo-sandeep-biswas-on-h1-2021-results-earnings-call-transcript?mail_subject=ncmgf-newcrest-mining-limited-s-ncmgf-ceo-sandeep-biswas-on-h1-2021-results-earnings-call-transcript&utm_campaign=rta-stock-article&utm_content=link-2&utm_medium=email&utm_source=seeking_alpha

One small paragraph from the answer to the question from the Morningstar guy.

"And then over time as subject to drilling, if the Breccia material proves to be mineralized and some exciting intercept which we’re seeing, in a broader sense, that would open up the possibility of down the track, a bulk style mining operation, which would be able to much better utilize the whole milling -- a lot of the milling capacity at Telfer that sort of top-down mining method like an SLC or just I’ve been stopping would not feel. So high grade coming first with the potential of a larger operation, and by then the Telfer open pit would probably been exhausted by then, and then it’d be on Havieron.

So, again, that’s the vision. I mean we’ve got to actually do the work, do the drilling and what have you, but that’s, and look, and that’s without considering are they going to be other discoveries nearby that will be far more commercial and profitable by pigging back of the Telfer infrastructure part.

So look compared to how we were thinking about Telfer two years ago, it’s like chalk and cheese. We’re talking about the end of a mine and now we’re talking about the beginning of a great new mine, right? It’s chalk and cheese. It’s incredible."

The beginning of a great new mine - from the lips of the Newcrest CEO.

GLA - Paddy

As a follow up to the earlier tweet that showed what areas were only included in the MRE by Newcrest here is another showing the plan of the latest drilling from the December Newcrest report. It shows a lot of the drills results from the drilling of the Northern breccia and far from being the barren wasteland that SW would have us believe just look at the grades and intersections of some of the assays here.

https://twitter.com/paddygall1/status/1359938481494102022?s=20

HAD101 is a thing of beauty - 147.2m @ 1.1g/t Au & 0.18% Cu from 1083m AND 92.5m @ 1.9 g/t Au & 0.06% Cu from 1296m AND 53.3m @ 1.5 g/t Au & 0.25% Cu from 1593m - the last intersection being in the Eastern Breccia

HAD105 - 298.8m @ 1.2 g/t Au & 0.11% Cu from 801.6m

HAD103 - 90.6m @ 2.3g/t Au & 0.18% Cu from 822.7m

There are numerous others also and what is the Northern breccia and Eastern breccia going to look like after they have drilled the bejesus out of it over the next 4.5 months, and we still haven't even mentioned the North Western sulphide closure which had only had minimal drilling up to now. The breccias expand out to the South East, East and North of the crescent so odds are that it will expand to the North West also.

Do as you must but my hands are parked - Paddy