Member Info for Bamps21

I only can see what the rest of you can see. I am not sat in an office, I’m sat in my garden in the sunshine.

Difference between me and Freddie is that I can understand what’s put in front of me.

For everybody’s state of mind use the filter .

He’s not worth discussing.

Hi Redirons

It must have been Newcrest that ordered the liners. On a timeline on the satellites you can see the pile growing, that was September last year.

My assumption yesterday from Shaun’s interview was that the additional ponds weren’t needed but today’s news says they will be installed when required.

Before the September Town hall the published water estimates were deemed to be on the low. When I mentioned this to Shaun he told me the opposite, which threw me a bit as I wasn’t expecting any issue.

From today’s news my assumptions are now that the volumes are above average ( as the new ponds are needed) but the flow rates and pressures are lower. This means the ponds will take longer to fill and are manageable so there will be no problem with the Decline advancement. It’s still a very strong rock structure so good for advance rates.

Strudel agrees with Hopefullygold this morning that his “pumps” were drilling legacies. The photos aren’t clear enough to know precisely but they were definitely not pumping from there. They are however on the proposed borefield, so may be kept for future pumping and not filled in and capped off like the rest.

The big question is now “ will they start the Decline or wait till the sale process is complete”

Newcrest were being proactive when ordering the liners for the new ponds and were delivered after the original ponds were completed. The approvals for the ponds were also submitted in advance but was submitted after the liners were on site.

Good practice from Newcrest to prevent hold ups in the construction phase programme.

The liners won’t go to waste it will be useful as in the diesel pump bunds.

Hi Hopefully

I think they are definitely pumps but they don’t look connected.

Flow rates can be measured by instrumentation not necessarily by pumping.

Freddie should be filtered not the water.

I did mention sometime ago that the water estimatimation was low and the ponds were not filling.

I still don’t believe those pumps aren’t connected but will be needed

Well that was a very positive interview, looks like the flow rates are very low and the additional ponds won’t be needed. Great news.

Going to take a more optimal route through the aquifer to get to the ore quicker.

Super positive to gain the 100% in my view.

I meant the aquifer not the Decline

Well I’ve been told they’re still pumping but that is probably to keep any water from building up, I don’t believe it’s from the Decline. The evaporation ponds are the same greenish colour and not a salty white like when they first started.

I doubt Ggp are willing to spend out large sums to keep things going if it may benefit another entity taking over.

In the NEM accounts only $2m was spent on Telfer projects last quarter.

A start date looks to be governed by the sale process but they could get a letter of intent which would allow them to continue.

Shaun hinted at June/July, its nearly May so not long to wait.

Hi MH

Yes I was in contact with Stuart, those items of kit are definitely on the borefield to the north of the Decline, so I would suspect they are all pumps .

These are all inside bunds to prevent diesel spillages.

They are still not connected so look unlikely to be pumping yet.

The new evaporation ponds which have just been approved haven’t started yet, the liners for these are in piles waiting just to the north of the existing ponds.

There is another bore field proposed to the south of the Decline which hasn’t started yet.

This is where I would have thought the best place for the pump positions to dry the decline area quite quickly when started.

I can’t get over that today’s news has been lost on here too quickly, swamped by negative idiots to drown it.

Most people seem to have glazed over with the announcement not really understanding it.

It’s all to do with obtaining the Heritage approvals and work can commence again after 6 or 7 years. That’s when the drill results were issued for Wishbone, Carnegie and Empress.

GH commented that they have found disseminated sulphides , they’re not as good as massive sulphides but indicating there are sulphide intrusions coming up through the basement so the drilling needs to be deeper.

Today’s announcement has highlighted the Banded Iron formation from one end to another that’s 50km yes FIFTY kilometres long of a mineralised structure cut through twice by 2 major fault lines.

Additionally the banded has 2 more Banded iron formations running parallel with the first which could add up to another 30km or so.

This is significant news.

Https://polaris.brighterir.com/public/greatland_gold/news/rns/story/r7l7e7x

I hadn’t twigged till today re reading that announcement why the reserve figure was not included in the last RNS.

The difference between the Jorc reports and the SK1300 that NEM use is a lot stricter with the SK1300. This limits what can be reported.

The PFS does not come up to the SK1300 reporting standards on one point. The contingencies used were 20%, the reporting has a maximum of 15%, so technically NEM can’t accept the PFS. This also affects the reserve reporting, so the reserves were not reported last time.

Ggp have published on that announcement what they would be under SK1300.

What effect has this on the sale price of the 70% NEM own. It should come a lot cheaper 🙂

Shaun said “we have 8.4moz” ( of course that is the equivalent value including the copper) he never mentioned the jv or a partner.

At the time of the PFS mining plan 2mt scheme the starter mine was only 8% of the ore body. The Eastern breccia has grown considerably since and the resource hasn’t grown in % term to keep 8% the same.

The starter mine is a tiny amount compared with the orebody as a whole, so yes there will be a lot of resource updates to come.

Shaun mentioned the copper price increase, I would have liked him to have described how that affects the resource size which would have been beneficial to most shareholders. This copper price is used in the gold equivalent formula to formulate the quantity, so any rise has a positive effect on the 8.4mozeq.

The gold price rise has a direct effect on the valuation of the ore in the ground, so a lower cut off grade can be used making the ore above this grade economically viable and therefore increasing the ore body size, also the internal dilution is reduced.

Hi Speedie

Would be better “we’ve bought the farm back with no debt” 🙂

Thanks Magic that article does sound like EG

“ Banded iron formation-hosted gold deposits are attractive targets thanks to their potential for large, district-scale gold mining.”

Meadows could be 5km long and may stretch to 9km or more.

https://polaris.brighterir.com/public/greatland_gold/news/rns/story/x2vkg6w

The blue lines in a NW-SE trend is the banded iron formation with granotoids following it.

How they describe what’s there is very interesting :-

“Drilling confirmed that gold anomalism is hosted within altered basalts, banded iron formation (BIF) and syenite (Figure 1). The mineralised zone of 8m @ 0.12g/t Au from 316m in EGD006 is associated with thin quartz - carbonate veinlets in silica-sericite-chlorite and albite alteration in the basalt host (Figure 2). Hematite alteration was also observed. The syenite intersected in EGD005 shows gold is associated with disseminated pyrite with silica-sericite, albite and hematite alteration and quartz-carbonate veining.

”

“ The results indicate an encouraging broad, weak (Au-Ag-Cu-Zn) mineralisation. This could be the edge of a larger system. The anomalism is geologically controlled by generally east-dipping vein sets and vein-associated alteration. A correlation was noted between the weak gold-silver mineralised intercepts, geochemically anomalous, low order bismuth (Bi) values and the chlorite-carbonate alteration zones. The peak Cu value of 1,178ppm from 390.2m in EGD006 was in a highly sulphidic altered BIF unit. These associations can be used to better target further drilling.”

All looking very interesting.

Hi Magic have you thoughts on the significance of the banded iron they’ve found on the west target of Meadows

Newmont reserves report

https://s24.q4cdn.com/382246808/files/doc_earnings/2023/q4/supplemental-info/Newmont-2023-Reserves-Release.pdf

Page 8

Telfer 27.6m tons of resources left @0.61% giving 600,000oz . There is a recovery factor of 0.81% so when turned into reserves it leaves 486,000oz.

Hi Jerry

The tailings dam costs are in the Newmont quarterlies.

There was an 8% fall in gold production in Newcrest last quarterly in September quarter as a result of lower headgrade offset by lower mill downtime .

Having Telfer will be a monumental move in Shaun’s strategy, to be in control of how the Havieron ore will be processed. He told me they would extract everything they could from the ore which is economically viable.

Whether there is any more around Telfer I’m sure we will be informed in due course but he wasn’t going to let on when I asked him about rumours of more ore under the airstrip.

I remember chatting to Goldworm in our local and we are both convinced there maybe more to find deep under the Telfer mine.

Costs are the biggest issue at Telfer, knowing Shaun he will soon put his stamp on it.

I haven’t seen anything of a new tungsten source on Telfer land from Newcrests reports. Remember though tungsten is hard to process needs a lot of heat more than is generated at Telfer at the moment.

Having an existing tailings pond is really beneficial to Havieron it will cut enormous costs out, only thing is continued maintenance and monitoring and possible vertical extension.

Object of the mining plan is to not disturb too much more land due to some of the rare habitats and species.

The tailings dam will be 65m high eventually so enormous after extensions.

Hi MF

I didn’t hear that conversation seems reasonable. I wouldn’t know if the trains would need that much maintenance .

Hi Iseo

If Telfer production is stopped or runs out then Havieron ore has to cover the cost of Telfer.

If production continues the AISC will be high, I can’t remember off hand but the last quarters results showed it over 2000 ( I will need to look again.

Gaining Telfer will be a huge benefit if they can find more viable ore, it’s also a huge benefit to be in control and have a handle on the costs.

A high gold price will make more ore at Telfer become viable, definitely underground stuff at the moment that’s still viable but not a lot left.

In 2017 they had 7moz of resources, I’m not sure what recovery factor they had but certainly won’t be 86%, so about 2.5 to 3m would have been extracted. There should be at least 1 to 2m left if a 60% recovery factor is used if it’s viable.

This plant won’t be able to do the tungsten as someone mentioned, different scenario.

Shaun and the team must be working hard to make sure that this is going to work, which I’m sure it will.