Member Info for PaddyGall

To be fair - Degrey at $1.176B Mcap are in a pretty similar position as GGP at £535M.

They also own their prospects 100% so you would expect them to see a bigger rise % wise than us - that could all change if we start to see more hits on our 100% owned Scallywag.

ATB - Paddy

Yes - Grizzle has been in there throughout and well done mate. I was looking at it at about 20-25c but all my funds are tied up here so it's one that got away. Looks like there's still plenty of upside there also.

ATB - Paddy

Hi MS - yes mate a couple of holes like that at Scallywag would be very nice indeed, or is that being a little too greedy??

@chester, have a look at this tweet from DeGrey today. It shows a rock chip from their RC drilling in the Pilbara and you can clearly see the visible gold in the sample.

https://twitter.com/DeGreyMining/status/1298913752549453825?s=20

ATB - Paddy

@CageUK - I've read through the job description a few times and I can't see any mention of negotiating.

I think the negotiating has already taken place and that forms part of the Indigenous Land Use Agreement (ILUA) which is already in place. This job from what I can glean is more about raising awareness and promoting the indigenous cultures and beliefs in the potential workforce at Havieron and providing support to the local people as the Havieron project expands and gets closer to production.

I think it shows Newcrest's commitment to engage with the Martu and involve them at all stages of the project.

ATB - Paddy

@Saveuk - i've had 3 deep reviews already @ 7p, 12p and 15p and I'm happy to report that they all came to the same conclusion and I'm still fully invested here.

GLA - Paddy

Oh and a slight correction to the timeline - the GDXJ announcement is the 11th and not the 10th as stated below.

I just checked on the website and deffo the 11th - https://www.mvis-indices.com/periodic-index-reviews/quarterly

ATB - Paddy

Chris - it's a tracker fund, it doesn't matter to then if the price is 1p per share or £1 per share.
They will buy the appropriate number of shares for the fund on the prescribed date regardless of the cost - the rules is the rules when it comes to ETF's - that's my understanding anyway unless anyone knows any different.

ATB - Paddy

Nice clear image of Scallywag camp & drill sites on planet.com this morning.

https://twitter.com/paddygall1/status/1298573748698742785?s=20

Looks to me like there "MAY" be 2 rigs drilling at Kraken - both on the outer extremities of the circle that highlights Kraken in the second image.

ATB - Paddy

Hi TomE - I didn't think they had announced anywhere about the type of drilling to be used but I may have missed it in the hail of info on here, happy to go with the experts either way - although a nice core photo always does wonders for everyone's moral.

@bluemoon - again I may be wrong but I think GH said the AEM survey was going to concentrate on the very west areas of the licenses, I think they have picked out the sweet-spots using the current data and we can see where they have started from the latest satellite data but they may well use the new data to refine and highlight even more possibilities - all IMO.

ATB - Paddy

Hi Joe - I may be wrong but looking at the satellite images at Scallywag, we are not seeing the "black sump liners" that we see at Havieron that are associated with the DD holes there.

I'm thinking that we may be using RC drilling at Scallywag as the depth of cover is less and RC is good for up to 500-600 metres, if this is the case we will need to wait for the assays to confirm, as I said happy to be wrong but happy to wait also.

ATB - Paddy

Tuesday is good for me mate - in fact any day next week would be lovely but I think it will be the week after for the Havieron results RNS and maybe the AEM survey results although I feel they might have to wait until the following week.

No matter - we should see a nice steady sustained rise up to the results now - if we get some results from the extreme NW step-outs (as I believe we should) then these interims should be very significant for our understanding of the scale of the system.

ATB - Paddy

Bank Holiday this Monday Patrick - those bones need to be recalibrated :-))

Much better than when Spy christened me 'pamper' :-)))

Interestingly it's the same survey team that we saw on the GGP twitter feed last week so we can safely assume that the AEM survey on the GGP tenements is completed and we are just awaiting the results.

ATB - Paddy

Mush, I agree that it's 6 weeks from the last quarterly up to the 3rd of September but that then leaves 8 weeks to the October quarterly.

My money is still on the 10th - exactly halfway for the interims - but happy to be wrong.

ATB Paddy

JJmack - admittedly it was in 2002 but here is the Environmental Protection Agency's (EPA) report on the proposed expansion of the Telfer mine which includes a section on the de-watering and borefield operations.

https://www.epa.wa.gov.au/sites/default/files/EPA_Report/1362_B1059.pdf

"4.2 Dewatering and borefield operations
The EPA’s environmental objectives for this factor are to:
• maintain the quantity and quality of groundwater such that existing and potential
environmental values and ecosystems are maintained (including subterranean
fauna); and
• improve understanding of subterranean fauna through appropriate research
including sampling, identification, and documentation.
Assessment
Dewatering of the ore-body and the abstraction of groundwater from borefields for
processing of the ore, will draw down the groundwater aquifers in the vicinity of the
mine.
These activities are a resumption and expansion of past dewatering and abstraction.
As a result of these past activities the proponent has a good understanding of the
groundwater systems of the mine and borefield areas. Groundwater modeling predicts
that the proposal will result in drawdown of groundwater aquifers over an increased
area, but that this effect will be confined to the local area (that is, within a 10 km
radius of the mine). This modeling has been reviewed by the Water and Rivers
Commission, which is satisfied that all water resource issues and any potential
impacts on these resources can be managed within existing legislation.
The predicted impacts are not likely to have any significant impact on any
groundwater dependent ecosystems. Groundwater levels in the area are naturally 40-
70 m below the ground surface and so the desert vegetation is not dependent on
groundwater."

I don't know if these 40-70m groundwater levels are still in the same healthy state they were in back then but if a new facility were to be built it would be well outside the 10km radius that they discuss here so shoudn't have any impact on the operations at Telfer.

ATB - Paddy

@sandgrounded - I'm sure you are right and I guess all the boards on LSE of companies that are doing well will have a group of traders on there but looking at the info available on the GDXJ independently after the discussions yesterday then it certainly looks like we may well be in the frame for inclusion.

Companies eligible for inclusion in Index:

Companies that generate at least 50% of their revenues from gold and/or silver mining/royalties/streaming or have mining projects with the potential to generate at least 50% of their revenues from gold and/or silver when developed. Market cap exceeding $150 million.

Then they must also meet the 'Investable Index Universe" criteria.

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

2.2 Investable Index Universe
Only companies with a free-float (or shares available to foreign investors) of 5% or more for existing index
components or 10% or more for new components are eligible for inclusion.
In addition to the above, stocks that are currently not in the index must meet the following size and
liquidity requirements (if composite country volume data exists, it will be used to identify the investable
index universe; once a company has qualified for the investable index universe, the most liquid single
exchange price source within the country is selected):
• full market capitalisation exceeding 150.0m USD, and
• a three-month average-daily-trading volume of at least 1.0m USD at the current review and also at
the previous two reviews, and
• at least 250,000 shares traded per month over the last six months at the current review and also at
the previous two reviews.

I guess that's what Hydrogen was referring to when questioning about the volume at the previous 2 reviews so that would be quarters 1 & 2 this year.

ATB - Paddy

@TT - I presumed exactly the same as you from his comments where he discussed finishing at Scallywag and then wheeling the rig up to PRE and maybe back down to Black Hills. The only thing I can say is that this satellite image would have been a snapshot in time so everything it captures is in those locations.

I've just had a thought - the big blue blob in the far NW - could that be the reflection from the helicopter doing the AEM survey. That would make sense as it's towing that big 'coil' behind it.

ATB - Paddy

I can't tell for definite Goldenl - it's just the positions where we have noted activity.