The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
When you look at the EMR greenstone target to the east of EG they’ve absolutely peppered it with drill holes to find the veining and lodes, they’ve highlighted the best drills some aren’t spectacular but others are.
https://www.ggpchat.co.uk/download/file.php?id=2136&mode=view
I wasn’t expecting a hit straight away as I’ve said before.
They were testing the conductors found by RC drilling years ago. They found the source of the magnetised units, plus they’ve proved that there is veining in the basement rocks mainly in the banded iron formation and minor veining in the syenite. Gold can be found round the edges of syenite.
The red lines in banded iron sections are red rust formed in early oceans where iron rich waters only had small amounts of oxygen. This red rust became heavy and sank.
Forms much of the global iron ore deposits 1.8- 3bn years old other minerals such as quartz silica and gold can be found in between the red sediments.
This banded iron formation and syenite are in the basement rocks not the cover, they’ve just tickled this with 2 drills.
From only having the heritage agreement in November and drilled it with results today that’s some achievement.
My thoughts on the Decline progress
https://www.ggpchat.co.uk/viewtopic.php?p=5218#p5218
The infrastructure at Jundee is mind blowing about 200km west of EG.
It’s not all in one vertical orebody like Havieron.
The amount of infrastructure at Havieron will be minuscule in comparison.
https://inventum3d.com/c/nsrltd/jundee
There’s an inventum image of the Rosie deposit which is on the same greenstone belt as Regis near to EG.
https://www.ggpchat.co.uk/viewtopic.php?p=5212#p5212
It won’t load though.
This could be some of the structure types they’re looking for at EG not necessarily pipes
Https://www.lse.co.uk/rns/GGP/block-listing-interim-review-8nmtoxxmupn0hbe.html
Share Inventive Plan 🤣🤣
Callum suggested to me that Meadows contains 5moz, what I believe now is that will be in 1m+ oz deposits. He said he would like to pepper Meadows with drills for £300k.
Shaun is more frugal with the funds at his disposal.
Ernest Giles was thought to be a company maker before Newmont joined Ggp there and looks even more so now.
Will they join us again?
I’ve updated that Greenstone map
https://www.ggpchat.co.uk/viewtopic.php?t=880
I’ve put up an image of Gruyere mine 6m resource and 4moz reserves
I’ve also added Regis resources a multi billion dollar company with 10moz resources
Looking better and better for EG
As Shaun stated they will take their time in assessing what they want to take going forward. It’s not going to matter to them of Ggp sp they will just issue their shares in exchange I wouldn’t have thought a cash offer was on the cards.
It looks like we are going mining why wouldn’t they want to share it with us, we have a big carrot on a stick with EG.
Consideration of that must be taken into account when they hold a lot of licences around Jundee , I couldn’t quite work out where and what but it certainly wasn’t Newcrest stuff. If we find deposits on EG there could be a frenzy of takeover activity
From the Projects page on the company web site about the FS
“Various workstreams to support the Havieron Feasibility Study, including geotechnical and hydrogeological data collection and modelling, ore characterisation testwork, process plant design, mining trade-off studies (including refrigeration, ventilation, material movement, and paste fill design) and infrastructure assessments (including power, haulage, water and tailings) are continuing to be progressed with several value enhancing options underway to maximise value and de-risk the project.”
There are advantages for both parties in the joint venture.
Once issued both parties can put the asset up for debt purposes.
We know Ggp have their bank guarantees, this debt can be taken up when the FS is released. This will allow the Newcrest now Newmont debt to be repaid and pay cheaper interest rate to the banks. The Wyloo debt can be repaid if not taken up yet. If the FS is not issued by May the Wyloo debt will certainly be taken up.
The debt repayment will certainly help towards NEM making their initial $500m of savings. They can also borrow against the asset instead of using their funds.
The FS must have substantial content changes for the delays to keep occurring .
EG is not only about gold it’s also sat on a NW trend where there is a supergiant zinc and lead target being discovered by Strickland and Rumble resources.
Also loads of potash being recovered all around EG in every direction.
https://www.ggpchat.co.uk/viewtopic.php?t=695
Hi MH
I think Gruyere is more exciting
4moz reserves and 6.5moz resources and 3m ton processing plant only about 50km away.
Jundee is about 200km away.
All these mines around on virtually on every bit of greenstone.
EG is little explored.