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Hi Malva

His phrase of dozens and dozens of targets on the Rio jv will keep us going.

Not sure if I’m allowed to say that they’ve drilled somewhere on 100% land not going to say where.

Won’t say anything else on that but it wasn’t picked up on satellites

Hi Frigger

Yes I remember him saying that, it’s the last greenstone belt in Australia I bet all the big guys are watching.

You should have come over and introduced yourself.

Last time I sat next to a chemistry teacher who said he’s interested in my posts to tell the kids 🙂

His friend was there posts as Beecham I think, I can remember faces but too many names.

The Asian lady came again she been there every time I can never remember her name but I do now she’s known as Dire Straights as her name is Dire 🙂 I won’t forget that, great fun

Hi Malva

I had a great day thank you really enjoyed it.

Thanks for correcting me, it wasn’t Shaun. I heard it from elsewhere I will keep stum, Shaun did say the rocks are disseminated rather than veins so the mineralisation is not apparent.

I am expecting feldspar like in Apollo it’s suppose to be on the same rock structure according to ARV results.

Shame you didn’t come , Goldworm came for the first time he enjoyed it too.

Stingray for me is the unknown spike of a wheel in any scenario.

Take a look at that latest presentation of the Decka slide the new bit on the right showing the gravity survey.

It centred on Stingray and encompasses Apollo, into Havieron and into Scallywag. Taking in Archie, London and Kraken, these 3 have all been described as distal away from the source and looks like Apollo is as well.

Question :-

Is Stingray proximal?

In other words the source

Hi desert

He was asked about that.

From Rio drill results we know there’s pyrrhotite down there so that’s a great start.

Shaun went on to describe the gold and rocks as disseminated so you’re not likely to see the gold.

The XRF machines can’t give an accurate reading on this, you need the assays to give an accurate assessment.

The Geos though will decide which cores to send to the lab from visual and XRF

Standing next to Shaun I heard him describe the scenarios

NEM take 100% of Havieron

Ggp take 100% Havieron/Telfer

(He said we could afford it)

The joint venture he doesn’t know whether NEM will or will not continue with it.

Going on later it’s quite clear that he’s excited by Decka, he doesn’t know yet what the assays will report.

My thoughts of the 3 scenarios from Decka

Ggp gains 75% of Decka and Rio 25%

Ggp gains 51% and Rio 49%

This outcome may be known from the assays.

51% will mean something big it throws open an option to NEM of keeping Ggp with 30% of Havieron so more likely hood of using Telfer.

75% would mean Decka may not be big enough for Rio but could still feed Telfer.

NEM take out Ggp to get access to Decka and the 30%.

A non committal assay report will likely go back to the original scenario for the 30%.

Whatever happens it’s a win win.

Ernest Giles results may also change scenarios.

All NEM has to do is wait to decide.

Hi Ace great to meet you yesterday , let’s hope can meet up for longer chat next time

I can’t get over from a great day to a load of c..p on this Board today from a few individuals who are spouting nothing but rubbish

One thing I didn’t agree with Shaun was the Decline.

As he stated in his presentation 6-9 months to get to the ore.

He was describing how the lower aquifer has a lot less water than the previous ones and how competent the rock was and getting to the ore by June.

I put my hand up and said the previous average through the weak ore is around 5m per day and I know we have had a delay for training after the Cadia accident but 5m per day is January not June.

He came back with talking about the Cadia accident and digressed

Still with the mike I wanted to know why he thought it was June as it’s the key to production but Donald cut me short. I never did find out why

Hi Ben

Yes would be an own goal after working so hard to retain the 5% to sell now maybe daft.

He did express his views if Newmont take the 30% .

I’m not going to say here what he said 🤐

It was great to see my friend Goldworm, he really enjoyed it he’s convinced there’s molybdenum there.

Someone asked about nickel Shaun replied it’s not in the SE crescent probably down deep.

I jumped in then “HAD006 results showed cobalt all the way down can it be retrieved “

Shaun

“ if we take control of Telfer we would definitely be testing the ore to see what we could be retrieved and cobalt , molybdenum and nickel would be looked at plus others and could be retrieved at Telfer. Newcrest however may not be looking at this and I don’t know what there plans are at the moment “

Hi Ben

He was alluding to help from Wyloo, but not them running Telfer/ Havieron as some have been saying here there just in it to make a financial gain.

Shaun said pointing to the map describing the Paterson “ we have dozens and dozens of tier 1 targets drill ready”

Pointing to Minyari “ that’s Minyari in the centre a small target”

I asked :- you described recently which would be your favourite Pearl or A35 do you still feel the same about these now you’ve drilled Decka.

“Decka definitely Decka but waiting for assays” he is very excited by it but until we get assays back he wouldn’t comment about Scallywag or Decka details.

There was a problem with their truck taking the cores to assay. It was delayed a couple of weeks.

Results would have been back by now. Due very soon next week or week after.

3 options

100% Newmont

100% Ggp

Jv ?

He doesn’t know how it will play out.

He said we can afford it🙂

The Wyloo $50m loan is just a standby only if they need it.

What a great night even though I sat behind Rhino 🤣

I asked Shaun about Rudall.

I said we’ve been following the drill rig on the satellite from Pearl, A35, Decka but we missed A34 and Rudall , what if anything happened at Rudall.

“We diverted the rig to Decka, we will be back there later this year “

That last presentation gave a bit more colour to the mining plan, looks like the top 4-500m will be stoped. Due to the depth there will be plenty of time to sort out a future mining plan.

3 stope levels to be stoped at same time.

Well to me that was obviously needed as the ore body plan makes it difficult to open too many on one level especially with the end ones running through the crescent.

3mt will be tough to get without 3 levels.

Stopes approx 10 stopes per level

3 levels 30 stopes

From presentation stope size 20x30x50m = 90,000 ton

900,000 ton per level

2.7m ton for 3 levels

To get to the 3rd level which is about 250m from top of ore the Decline will need to go down another 1,760m. At 5.17m average per day is another 340 days.

Very difficult to get to 3mt pa without introducing stoping to the high grade pods in the Northern Corridor.

Increasing the tonnage from this stoping to me is not an option:-

1 - A hoist would need to go right down to the base of the crescent, you couldn’t take it down halfway and then extend it. Keeping the need for trucking higher up.

2 - a higher tonnage would introduce weaker grades ie higher costs less free cash flow

Spades

I went to London to have lunch with Callum and a few others , very surprised when he walked in with Gervaise.

I think they’re both on each others Xmas card list.

Hi Sandgrounded

Lithium is not likely to be around the Paterson with the mainly sandstone and siltstone cover sequence. There may be bits but I haven’t seen it mentioned at all at the moment.

Rio do still have a jv , I have it in my notes somewhere, it’s to the northwest of Telfer the rest are up by Winu there doesn’t seem to be a great deal happening on any of them at the moment, one two drills here and there. As I’ve said they look to be concentrating on lithium

That’s nonsense

Naylor, it doesn’t matter what price the sp is at, an incentive plan is designed to increase the current share price not what it was in the past.

There are a lot of different targets in that scheme for different individuals/ departments some will not come to fruition.

How else do you retain competent staff in a very tight labour market without giving them extraordinary large salaries?