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That’s the Sandvik jumbo drill machine.

Look at the waste rock mound in the distance it’s getting big 🙂

Hi Speedie maybe you think there flawed but chaos is looming if your predictions ever come to fruition.

If we sell 1,000 oz of gold what would we expect payment in, dollars would be useless.

The biggest buyers of gold are the Brics block, tell me which country out of that lot are doing ok?

Last post for me on this subject.

Hi Speedie

I still don’t like commenting on gold pricing, this talk of a bull market in gold and dollar collapsing has been going on for ages.

Do I believe it , no I can’t say I do or want it.

A high or low price of gold is no good for miners, this current price is ideal.

When miners sell their gold products they need to be paid, what you are suggesting is they get paid in a failing dollar, or will they want paying in gold. That scenario looks as though it will lead to chaos.

I refer you back to Venezuelan economy collapse, yes bad management but one of the policies was to buy gold with its foreign reserves which left these depleted. The gold price collapsed leaving it with no funds to buy anything or fund its oil industry, already hammered by sanctions. Now they want someone else’s oil, Guyanas by force.

Low or high gold price is not good for the global economy we need stable growth in which to sell our products in to.

I have my own views about the gold price and I don’t comment about it very much but are contrary to a lot of people’s hopes.

If the price of gold goes to $2500 and the dollar plummets, like the traders on here, governments will be selling high and buying low. That is selling gold and buying dollars.

That’s basic economics people won’t buy if perceived to be too dear.

With the price going up Ggp value in Havieron will rise dramatically but it could fall as quickly.

I would prefer it to remain where it is at the moment but every increase means that the ore cut off value can make weak ore become economically viable.

Don’t wish for things that might come back and bite you 🙂

Oz minerals had a joint venture with Resolution mining in the Northern territories.

Bhp took over Oz minerals.

They’ve announced their withdrawal last night after spending $1m .

The big question for Ggp what will Newmont do with their joint ventures.

Newcrest last year already gave up portions of their Antipa joint venture , withdrawing from Pacman, Tetris and one other.

Personally I think they will withdraw from the Juri with Ggp and the Antipa jv. It would be a small part of their $2bn of savings.

The Decline route was altered to get the spirals through the soft ground quicker therefore reducing costs, I don’t know what you’ve been reading but I don’t think Sandeep ever mentioned the lower aquifer.

Only additional costs besides the additional time is using the resin.

There were extensive surveys carried instigating the initial design.

The saline water coming out was always going to be an issue, that is why the huge evaporation ponds were designed and implemented.

Hi Sarah

I think you’re getting mixed up with the top 2 aquifers , the lower aquifer is a strong rock it doesn’t need reinforcement it just needs dewatering.

Have a good Xmas

Yes that white is the salts from the aquifer water evaporation

Https://www.ggpchat.co.uk/viewtopic.php?p=5050#p5050

21st Dec

Other copper recovery rates

Cadia east 86%

Cadia ridgeway 87%

Telfer open pit 52%

Telfer underground 82-97%

Havieron 87%

Red Chris underground 81-86%

Red Chris open pit 80%

Havieron compares very well with copper mines where their main mineral is copper where Havieron is gold

Hi Reaction

I never took you to be negative, there’s a lot of people that don’t understand the MRE process.

The conversion rate is something else not really understood.

The 86% CR is never going to get higher that is a fantastic figure. Shaun explained the process very well from inferred, to resource and then to reserve.

The CR coverts resource estimates to reserves. The high figure is because of the compact nature of the high grade sulphides, if breccias are added to the volume and weaken the grade average that 86% will reduce to 50-60% or lower.

With the increased depth of the high grade and the lower opvm figure you would expect the CR to fall but Shaun explained that they are not seeing that yet.

A recovery rate is what the chemistry assays are finding after processing samples before that MRE gold recovery rate was 88% it’s dropped to 87%, while the copper has risen from 80-84% to 87%.

That 87% for copper is something I haven’t seen anywhere else it looks very high.

The tailings at Telfer contain lots of minerals that couldn’t be reclaimed, historically processing has improved in leaps and bounds.

There was a poster here who worked at Telfer and said many times good ore was dumped into the lake for one reason or another. Jim06 I think his name was.

Conversion rate is an estimation tool.

Recovery rate is the actual amount of minerals recovered.

There’s 9 km of sediments at Havieron under the cover who knows where the source magma had collected before it came to the orebody but it certainly can’t be disconnected.

The deepest mines are in South Africa very difficult to get below 3,500 m.

The air pressures are too strong

The temperatures are too high

The rock pressures are so strong that rocks ping like bullets from the sides of the tunnels.

That’s 2000m deeper than Havieron is at present

Hi Zoros

10m was my guess nearly 3 and a half years ago it’s a lot higher now. Very easy to estimate 20m, very difficult to get passed 40m 🤣

Very compact ore body , every metre down costs less capex than nearly every other mine

Sorry Zoros wide awake 🤣

This is part of an email from Shaun re Budgiedown:-

“In terms of the Budgiedown drilling results, I understand we are still interpreting and considering to what extent these recalibrate our view on further drilling at these targets. Naturally our preference is to drill a bulls-eye with the first attempt, but as you appreciate our approach is technically driven around a small number of holes (1 at Stingray and 5 effective RC holes at Decka) such that we enhance our understanding of the anomaly and seek to explain the geophysical target from the drilling activity.

In terms of the overall Rio Tinto Exploration earn-in, my own view is this is and remains our most prospective ground in the Paterson. There are dozens of high-quality targets and there will be no substitute to systematically working through these targets and continuing work to refine these and generate new high quality opportunities.”

He goes on to say his personal favourite is Strickland there’s a lot of targets there but there is a 40% surrender on that area I think tomorrow so we will have to wait and see.

In the coming months we have a further drilling at Budgiedown.

A drilling program at Strickland.

A drilling program at Skylar and Basel

A drilling program at Canning (Diamonds)?

(That’s my personal favourite Tabletop 1&2)

A drilling program at Panorama

A drilling program at Bromus

A drilling program at Pascalle

Results and further drilling of Ernest Giles

Then there is that little thing called Havieron 🤣

My first attempt at producing a calculation, this was pre PFS

“24 Jul 2020 13:23

This is my estimates

Sulphide zone top layer 1.4m oz @5g/t

middle zone 850,000 oz @3g/t

lower zone 150,000 oz @1.5g/t

Breccia zone around the crescent shape based on 2g/t = 7.4m oz

Breccia zone 600 deep x 550 long x 100m wide

Not included for the arms of the crescent or the new zone and nothing in the middle of the crescent.

Looks to me like 10m oz from confirmed sizes and maybe upto another 5m from the rest“

Well they nearly catching up with me 🍷🍷🍷

Hi Tom

Thanks mate

Have a great Xmas everyone

ATB Bamps

Well done Liam 👏

It’s a metric tonne but that is very close to the UK ton

86% is the conversion rate not recovery rate from resources to reserves.