Member Info for PaddyGall

Well I was always confident they would be decent but this is off the scale.

It's an absolute beast of a system - As GH would say - it just keeps giving.

Stunned - Paddy

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02300918-3A553989?access_token=83ff96335c2d45a094df02a206a39ff4

Best Intercepts to date - Exploration report not out yet.

Come on - Paddy

Jane - I don't know if you are on Twitter? that is the easiest way to send a confidential DM (direct message). If you want to send anything to me on there then I can verify.

Search for @paddygall1 on twitter - cheers

Thanks for that Jane but my geological experience could be written in the back of a first class stamp.
I've read up a lot and tried to interpret the Maria etc initially myself but thanks to the likes of Hydrogen, Magic and a few others my understanding has come on in leaps and bounds over the last 12 months.

I hope you keep adding to the conversations here in the coming months, as GH says - we're only just starting on the journey.

ATB Paddy

Thanks for sharing that info Jane, 2000m sounds very promising and if they up the rigs to 12 while the decline is progressing we can see why the exploration camp is rapidly expanding

Thanks again - Paddy

This might be an opportune moment to remind ourselves what our house broker Hannam & Partners posted on the 10th September, just after the last interim results almost 7 weeks ago.

Valuation under review
We are working on a bulk mining valuation scenario for the Main and the
Northern Breccia zones via a caving mining method, in addition to the sublevel
open stoping operation on the high-grade sulphide zone currently included in
our model. The typical gold grades in the breccia zones are over 1 g/t, which are
relatively high for a bulk underground mine and thus we are confident that the
addition of a bulk mining scenario will drive a substantial increase on our
valuation, although we would caution that our pre-JORC and pre-scoping study
estimates are, by definition, subject to wide margin of error.

So 7 weeks later and armed with a s**tload more infill data from Newcrest tonight where do we think their "substantial" increase might fall??

Tick tock - ATB Paddy

@zoros - I only say that because we have already had a load of casualties on the journey up from 0.5p to 24p and I'm sure there will be many more on the next leg of the journey. Good luck to them and best of luck to people joining us for the next leg.

I've always stated that I will be here until either we are mining and getting a yearly dividend (sorry Jerry) or we succumb to an irresistible offer from one of the majors.

Either way I hope to get full value for my investment in money & time into GGP - remember we are only at the start of the journey - we've heard GH say that on numerous ocassions over the last 3 years but it still rings true.

GLA - Paddy

Well I guess whatever way we look at it "TONS" is exactly what we want to see coming out of the ground at both Havieron and Scallywag in the near future.

Patience, patience & more patience required - only the few will stay the course.

ATB - Paddy

@Jerry - that's an interesting theory and maybe very astute observation.

"Find out why Greatland Gold Chief Executive Officer Gervaise Heddle feels that this is just the start of an incredible journey ahead for shareholders"

Just the start - bring it on GH.

https://www.sharebuyers.co.uk/shares/greatland-gold-shares-going-for-growth-deliver-tons-more-value/

tick tock - Paddy

I've just put together a quick compare video during my lunch break,

https://twitter.com/paddygall1/status/1321084221516120065?s=20

As Strudel said earlier, all the changes around Havieron seem to be heading back towards the East side of the ore-body, infilling as they go - these will be getting close to the last drills to be included in the MRE in December.

The exploration camp is expanding on a daily basis now.

At Scallywag they appear to have moved on from the original hole they re-entered and now appear to be at the other hole to the north of the sand dune. I guess they are testing deeper at that location also.

Not long to go - GLA Paddy

Looks like the explosion in exploration in Australia is proving to be a big success for our drilling partner also.

https://www.theaustralian.com.au/business/mining-energy/big-finds-make-the-drilling-thrilling-as-ddh1-mulls-possible-ipo/news-story/de8ec4537bab887da31dbb5053a0b5b1

If they IPO then that would not be a bad place to stash a few quid away for the future IMO.

ATB - Paddy

The MRE will basically support a Scoping Study as defined below.

38. A Scoping Study is an order of magnitude technical and economic study of the potential viability
of Mineral Resources. It includes appropriate assessments of realistically assumed Modifying
Factors together with any other relevant operational factors that are necessary to demonstrate at
the time of reporting that progress to a Pre-Feasibility Study can be reasonably justified.
A Scoping Study must not be used as the basis for estimation of Ore Reserves.
If the outcome of a Scoping Study is partially supported by Inferred Mineral Resources and/or an
Exploration Target, the Public Report must state both the proportion and relative sequencing of the
Inferred Mineral Resources and/or an Exploration Target within the Scoping Study

The PFS will support an actual Ore Reserve.

39. A Preliminary Feasibility Study (Pre-Feasibility Study) is a comprehensive study of a range of
options for the technical and economic viability of a mineral project that has advanced to a stage
where a preferred mining method, in the case of underground mining, or the pit configuration, in
the case of an open pit, is established and an effective method of mineral processing is determined.
It includes a financial analysis based on reasonable assumptions on the Modifying Factors and
the evaluation of any other relevant factors which are sufficient for a Competent Person, acting
reasonably, to determine if all or part of the Mineral Resources may be converted to an Ore
Reserve at the time of reporting. A Pre-Feasibility Study is at a lower confidence level than a
Feasibility Study

ATB - Paddy

@Frannie - have a read through the JORC code, it's all there in black & white.

http://www.jorc.org/docs/JORC_code_2012.pdf

ATB - Paddy

Having a think and being guided by a few more experienced contacts who are looking ahead of the MRE and not even bothered about what level that may contain. It will only be an inferred resource and even though it will be material to our SP in the short term, as @thelearner said earlier the PFS and FS will be far more revealing when they are delivered.

I've been having a look through the requirements for a PFS in the JORC 2012 code this morning - here's a link to it for anybody who's interested - http://www.jorc.org/docs/JORC_code_2012.pdf

Table 1 - Section 4 relates to the - Estimation and Reporting of Ore Reserves

It is quite detailed and shows the various milestones that need to be hit to convert a "scoping study" inferred resource to ore reserves.

There was one section that I found interesting - here's a screenshot of that section of the table.

https://ibb.co/mHjbZtR

So to complete the Metallurgical work on the ore-body to the satisfaction of Newcrest in would seem that they would need to collect bulk samples of the ore to then test through the system at Telfer. This got me thinking about the timescale that Sandeep outlined in the last presentations where he has publicly stated that the PFS would be targeted around the end of 2021.

So we can assume that Newcrest are aiming to have the decline completed to the orebody level by quarter 3 next year to allow them time to extract bulk samples from the ore-body, transport them to Telfer and trial them through the Telfer plant. They will have to tweak the recovery systems there to "cope" with the Havieron ore as it will no doubt be slightly different to what they are currently processing at Telfer.

Now all this "bulk-sampling" that will probably be extracted from the higher grade sulphide zone will be producing nice amounts of gold and copper so in theory we should have an income stream available to us even before the end of 2021.

MRE is an important step on the road to production but it is only that - the long game is the correct one here IMO.

Please DYOR and GLA - Paddy

@Spinrock - I don't know for certain but I doubt it. We know they have the Mining Lease in the bag and have submitted the early works proposal. As soon as that is approved then I think we will see them break ground in the area where they have proposed the box-cut.
I keep watching the satellite updates waiting for the day we see the ground disturbed in that area - it's only a matter of time.

ATB - Paddy

This tweet appeared on the 2nd October saying that GGP had been added to it's platform. We haven't had any communication from the company yet but I can only assume they will be using this platform to deliver the AGM.

https://www.investormeetcompany.com/greatland-gold-plc/register-investor?utm_source=TWITTER&utm_medium=TWITTER&utm_campaign=GREATLANDGOLD

As regards the MRE and the December interims. We don't know for certain what the situation will be. Last year NCM released the interims early to facilitate the GGP AGM - we got them around the 2nd December I think - would they be as accommodating when it comes to the MRE??

If they don't then I would expect (as it's 13 weeks to the next quarterly at the end of January) the interims around about the middle of December - maybe Tuesday the 15th. I think the MRE will come with the interim exploration update - this is what NCM have done before.

All I would say is it won't be a time to be out of GGP...... ATB Paddy

Agreed - no satellite updates this weekend so I will only be checking in sporadically.

Keep it nice and clean children and see you Monday ready for what should hopefully be a good week.

PSS - I agree, great post Hydro.

@Bamps - yes mate, I've zoomed in around the Google Earth image a few times. It'll be great to see the transport from Havieron bringing in the high grade ore to mix with the Telfer dirt and eventually replace it completely.

@DM - agreed mate and even more so when it is GGP and our money at stake and not NCM's.

ATB - Paddy

Hear, hear Bamps - looks to me like they have re-entered the original hole and I think there is a black sump-liner there so that would suggest a diamond core to test the depths.

https://twitter.com/paddygall1/status/1319590815350534144?s=20

I'm not bothered how long it takes for the results to come back - the longer the better IMO. If there was nothing there we would surely have heard by now.

As for next weeks Havieron results - anyone who has been here for more than 20mins will know what the trajectory will be - if you have sat and held then now is not the time to be getting worried and stressed. Sit back and enjoy the ride IMO.

Please DYOR - Paddy