We spoke to gas explorer and developer Sound Energy. Here are the latest updates from Executive Chairman Graham Lyon. Watch the full video here.
It's only if they hit something,
if they do hit though
on Havieron grades 0.75 g/t would equal
That's only the top magnetic protrusion down to 1200m true depth.
Below 1200 to 2200 is just mind blowing , the coincidence could be 7-10 x larger.
Everything crossed tight, ow
Great news that they are starting at Goliath first.
Let's hope they go as deep as they can straight away with RC first and then DD deeper into the centre of the magnetic anomaly.
My calcs for this anomaly to similar depths:-
Goliath :- 785,000 cubic metres
Havieron:- 176,000 cubic metres
Goliath:- tonnage 2.1bn tons
Havieron:- tonnage 484m tons
Will Goliath stop the shenanigans probably not but they are going to have to start paying.
Note that NI 43-101 reporting requirements do not allow for Inferred Mineral Resources to be added to other Mineral Resource categories. Therefore, Measured and Indicated Mineral Resources have been reported separately from Inferred Mineral Resources.
Measured and Indicated Mineral Resources
• 980Mt @ 0.41 g/t gold and 0.38% copper for 13Moz contained gold and 3.7Mt contained copper, including:
Mineral Resources that are not Ore Reserves do not have demonstrated economic viability. Due to lower certainty, the inclusion of Mineral Resources should not be regarded as a representation that such amounts can necessarily be totally
economically exploited, and investors are cautioned not to place undue reliance upon such figures.
Open Pit – 310Mt @ 0.28 g/t gold and 0.34% copper for 2.7Moz contained gold and 1.0Mt contained copper
Underground – 670Mt @ 0.46 g/t gold and 0.40% copper for 10Moz contained gold and 2.7Mt contained copper
Newcrest’s Measured and Indicated Mineral Resource estimate reflects its strategy of defining high value Mineral Resources
that will support the development of a high margin underground block cave at Red Chris.
Inferred Mineral Resources
• 190Mt @ 0.31 g/t gold and 0.30% copper for 1.9Moz contained gold and 0.57Mt contained copper, including: o
Open Pit – 11Mt @ 0.23 g/t gold and 0.27% copper for 0.084Moz contained gold and 0.031Mt contained copper
Underground – 180Mt @ 0.32 g/t gold and 0.30% copper for 1.8Moz contained gold and 0.54Mt contained copper
Newcrest’s Inferred Mineral Resource estimate reflects its focus of operating a higher value, smaller open pit and developing a larger underground mine. Growth drilling to further define Inferred Mineral Resources for bulk extractable underground mining options is currently underway. Newcrest expects to publish the results from these activities within its
upcoming exploration reports.
I would expect the Havieron Indicated Resource in the Autumn to have a lot less tonnage but the grades are far higher than Red chris
The Havieron potential growth prospects are enormous where Red chris will struggle to keep up.
There's only one Havieron:)))£))£)))
I don't see how the growth prospects of NCM can be categorised together
Cadia expansion zone is still going through regularity approvals and feasibility study to increase the size of the plant.
Havieron has only a small inferred MRE and can't be added to the accounts yet.
Brokers have already stated future volumes would give Ggp 30p so that puts a floor on GS valuation.
Havieron has the largest growth potential.
Red Chris is already a production mine so that part can't be included into growth and their growth prospect has already had resource estimates way ahead of Havieron.
Wolfi-gopu is only 50% owned with regularity difficulties . Exploration is way behind Havieron
We have a floor from our 2 brokers of around 30p already without a GS valuation.
The PFS is due September time the growth prospects will have advanced considerably by then.
To paint a picture that Havieron isn't worth much is very easy to do at this point but come September this is going to be so much harder to do.
To twist facts is very easy to do and to counteract these is difficult, just don't listen to them
I replied to that poster who was promoting Wishbone comparing to another Havieron.
I didn't slate him , I gave my opinion on the prospects of their licences and they are too small to compare with Havieron.
Please get your facts straight
The whole point about the PFS is to show that the project is financially viable.
The coming MRE is produced to support that feasibility. Inferred resources don't support the viability they just show it's possible.
Indicated Resource estimates are what is needed and I estimate 4-5m oz eq will be announced plus some inferred for the sub level caving operation.
Another 1m+ indicated for the stoping operation in the northern breccias .
Any other inferred resource will be used for an assessment of the Bulk mining operation and can be increased as time goes by.
There are 10m tons to go for to the west of the Dyke in the crescent and this is going to pay for the SLC to the rest of the crescent and the stoping to the north
I may have confused people with this subject.
It's not 2 ovoids as such, it's one ovoid that has a bigger dimension lower down.
This is only my opinion how it was formed:-
A magma intrusion forced it's way to the surface from deep widening the pipe size, breaking up and heating the rocks forming the crackle breccias.
As the pipe cooled the magma(breccias) shrank slightly forming a shrinkage crack in an ovoid shape.
Later a second magma event came up from the northern side forcing sulphides up through the cracks and into the crackle breccias cementing them together to form the concreted breccias.
The second event widened the pipe size below 900m to what I'm calling the lower ovoid, so deeper down there will be more concreted breccias.
The MRE is based on the HGZ so the % wise you can't mix tonnage with the grades.
As a % the MRE 4.2m might be as high as 30% of the whole
The exciting thing if the ore mine gets to 2300m deep then the 4.2m will go back to 10%+.
The original 54m tons was 10% of the original ovoid sizes down to 1200m deep but now with all the extensions increasing the size of the ovoid between 900-1200 the top ovoid tonnage has reduced in size making the 54m tons = 12%.
Well I understand it anyway :)))
That's sort of right but forget SD for a minute.
The first 5 drills by Ggp before the jv were done as an exploration play, the company's plans at the time was to find ore bodies and package them up ready for sale.
Those 5 drills were astonishing and NCM wanted in immediately but they were too good to let go cheaply and the jv was signed.
GH stated sometime ago that he was not the person to take Ggp to mining, so welcome SD and here we are on the road to mining.
The Juri jv was never going to be like Havieron, it's a vast area with an abundance of targets.
The exploration costs are way over Ggp's head and may even stretch NCM, so there was never going to be a great incoming deal on that.
Scallywag is different when they hit something this could be another Havieron type deal.
This is a long term game you have to set your thinking to long term not short term.
This is my grandkids inheritance that's the way I think :))
I'm not sure if the questions are simple but I will have a go.
Top ovoid 900 deep x 176,000sq m = approx 435m tons
Bottom ovoid 300 deep x 315 sq m = approx 95m tons
% of shell tonnage 54m of top ovoid = 12%
This inferred resource may go to an Indicated Resource, by that I'm thinking in terms of mining it.
The SE of the Dyke may be mined as a Sub Level Caving operation for the top 350m.
A portion of the crescent on the west side of the dyke may be added to it as this will be the first area to be excavated.
Therefore all this area may get put into the Indicated I've not worked out calcs for that.
The rest of the shell in the northern breccias and North west crescent may also go into an Indicated Resource but is likely to get a stoping operation with more decline and stoping tunnels .
All other areas will be added to Inferred.
With very few drills going down to the 1200 depth I'm unsure if the bottom ovoid will be included in the Inferred and that will include the Eastern breccias, there are too many open faces to know at this moment.
Have I answered your question, probably not?
There was an interesting piece on copper yesterday in the LSE news pages saying that Goldman were super bullish on copper.
There is going to be a blip with the copper price before the supply problems really kick in.
The LME are sat on stocks of 765,000 tons with low take up at the moment.
Copper smelters are struggling to get copper concentrate supplies and the smelting price has plummeted with smelters chasing stock.
This has had the effect especially in China of the smelters closing for maintenance.
When economies start picking up and the big producers restart the short term copper price is expected to drop to $7600, but this is not likely to last long as the shortfall in production will become a big concern
There's joint ventures and there are joint ventures .
By that I mean some exploration companies need a joint venture to be able to continue.
Take for instance Antipa they say they own 100% of Minyari but do they. There jv with NCM cost them 10% of their company fairly cheaply and similarly with Rio and IGO. These type of explorers hang on by their fingernails and eventually get paid off cheaply .
Then there are the exceptional ore finds where the explorers have found something that a major really wants. This can be seen in the type of deals that are around.
At Havieron NCM knew that Ggp were sat on a biggie as the first drill was announced, why didn't they just buy them out when they were very cheap? Why did they go into a deal where to be able to get 5% would cost them dear?
The majors seem to be happy with partnerships 75-25% you can see it with all of them. NCM have Havieron and Redchris plus others.
Is this to prevent predators maybe.
Is it to reduce liabilities, I wouldn't like to guess but their jv with Ggp seems to be going very well with Ggp becoming their exploration division.
This seems to me to be developing into a merger I hope not but looks that way , some way down the track yet.
How can anyone put a price on an ore body that keeps on growing.
Why would Ggp sell out of a major find with 30-40 years life span maybe more with at least 9 years of profits of $200m or more and 20-30 years of $175m or more.
We don't need another prize but they will go for it when the profits start rolling in.
You are thinking too short term, if they get say £200m for their share and blow it all on exploration and don't find the ore body, what then!
Don't throw away your golden egg there might not be another one