Member Info for PaddyGall

Only scratching the surface in the NW - says it all,

sit on hands - Paddy

Newcrest are still splashing the cash about - they've just bought a royalty on the 30% of the Red Chris mine that they don't own.

https://www.mining.com/newcrest-buys-royalty-on-red-chris-south/

Excited for this time tomorrow night - anyone??

GLA - Paddy

Denver Gold Forum time of year again - remember last year when Sandeep was visibly excited when discussing Havieron.

Well Monday the 21st he will be doing a presentation again - should be worth a watch.

https://twitter.com/paddygall1/status/1303319107597721600?s=20

ATB - Paddy

@chromeinvestor - it's there but not the L2A. You need to select the L1C option. Try this link

https://apps.sentinel-hub.com/eo-browser/?zoom=14&lat=-21.72701&lng=122.64793&themeId=DEFAULT-THEME&datasetId=S2L1C&fromTime=2020-09-07T00%3A00%3A00.000Z&toTime=2020-09-07T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c

The criteria for admission to the GDX is slightly different from the GDXJ from my reading of the rules.

https://www.theice.com/publicdocs/data/NYSE_Arca_Gold_Miners_Index_Methodology.pdf

"The universe will specifically include those companies that derive at least 50% of their
revenues from gold mining and related activities. There will be a 10% buffer built in so
that companies already existing in the index will only be removed from the universe and
index in the next review if their gold mining revenues fall below the 40% level.
In addition, both streaming companies and royalty companies are eligible for inclusion in
the index. At the discretion of the Index Administrator, companies that have not yet
commenced production are also eligible for inclusion in the index, provided they do have
tangible revenues that are related to either the mining of gold or silver ore."

Whereas the GDXJ states the following.

https://www.mvis-indices.com/rulebooks/download/mv_equity_guide.pdf

"The MVIS Global Junior Gold Miners Index tracks the performance of the global gold and silver mining
small-cap segment. This includes companies with at least 50% (25% for current components) of their
revenues from gold mining/royalties/streaming and/or silver mining/royalties/streaming or with mining
projects that have the potential to generate at least 50% of their revenues from gold and/or silver when
developed."

It seems the GDXJ is prepared to look at potential revenue from projects whereas the GDX is looking for existing or "tangible" revenues. The only revenues we have at present are from equity raises so I doubt that qualifies.

Maybe some of the financial wizards can check and see if I have got his right or wrong.

ATB - Paddy

Satellite update is in for today.

https://twitter.com/paddygall1/status/1302947045846781952?s=20

Looks like a couple of rigs have shifted positions at Havieron but the majority are still sitting in the same spots - infill wedges and deeper holes IMO.

It looks like they have started on a 3rd hole location at Kraken - would they drill in a 3rd location if the first two were dusters??

The other location way up to the NW looks to be not changed at all either - is this also a deep DD hole?

GLA - Paddy

Hi Schi,
Just had a look at the Diggers & Dealers website and it seems Greatland are presenting themselves on the opening day at 1.40pm.

https://www.diggersndealers.com.au/

Scroll down to the program on Monday the 12th - right after lunch - still no name but I can't see anyone other than GH doing it.

Great exposure for GGP at the premier conference in Australia - Paddy

Hi CTC - I assume the wardens court will only be if there is an objection lodged

https://www.dmp.wa.gov.au/Minerals/Mining-Lease-4596.aspx

"Determination of mining tenement applications without objections
If no objections are lodged to an application for a mining tenement, the following applies:
For applications for exploration licences, mining leases, general purpose leases and retention licences, the Mining Registrar will recommend to the Minister for Mines and Petroleum that the applications be granted or refused. The Minister may grant or refuse the application irrespective of the Mining Registrar’s recommendation."

So in theory if there are no objections lodged (as seems to be the case) then we could see the decision come pretty quickly in theory.

Hi LA, as it's the Western Australian mining dept - I'm assuming it's Perth time and not Melbourne but agreed that it's close to the end of the business day so one would assume that if an objection were forthcoming it would have been lodged by now.

I'm just wondering if anyone has any idea of the time it takes to move from this point to the actual approval - we should start to see some intense activity on the ground when that happens.

ATB - Paddy

Last day for objections to the Havieron mining lease today and all seems to be clear up to now.

https://twitter.com/paddygall1/status/1302882752749088769?s=20

ATB - Paddy

Hi mercman - at the last count I think we were up to 3 holes either completed or in progress and at least 2 more pads prepared and ready to go so GGP will be sitting on XRF & visual info from a handful of holes as we speak.

We'll see what today's image brings - Paddy

Nice one Mickey - Wednesday night here in the UK then, beers, wine & whiskey at the ready.

I'm keeping an eye on the Sentinel website - hopefully there should be a satellite update at some stage today although they seem to be getting later & later recently.

GLA - Paddy

Hi Lenz & Launder - if you look in the very SE there are 3 drills HAD060, 067 & 068 that all drilled back towards the NW and the ore-body. If you look roughly at the distance they are from the definition of the ore-body then the drills in the NW may be used in a similar manner to test the new breccia zone at depth - but then again maybe they are vertical or even in a different direction.

The only thing I do know is the furthest NW drill location was active again in the satellite image on Wednesday so we can safely say they have been finding something worthwhile up there.

ATB - Paddy

BVI - isn't that where Beetham has taken up residence ??? Hmmm

Perhaps this is a good time for a visual - here's the latest NCM report overlaid onto the reported and unreported holes are red pins.

https://ibb.co/vLnHMCh

Cant's wait to see what those holes in the NW turn up.

Your call Fenix - but remember the GDXJ announcement is next Friday so we may not see the usual dip....

I'll be sitting on my hands so makes no difference to me - Paddy

That's the point I was trying to make - I'm sure the only process that will be occurring at Havieron will be the crushing / grinding and all the sophisticated techniques will be carried out at Telfer. They will to grade the ore as highly as they can to minimise on the amount of waste rock that they transport to Telfer.

Hi Bamps,
I may be totally off cue here as I'm not a mining engineer but looking at the plans it seems to me like they intend crushing and grinding the ore at Havieron and perhaps have some form of ore grading system to only select the higher grades to be transported to Telfer to be processed.

My guess would be these crushing and grinding processes would involve using water which would need to be treated - I can't see reference to tailings either - just evaporation ponds....

ATB - Paddy

Bamps - I can't see anywhere that it says anything about a concentrate plant - could you direct me to the part that indicates this?

https://stockhead.com.au/resources/major-miners-are-running-out-of-gold-and-thats-good-news-for-explorers/