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Hi Summit

Rio last night have done the same pulling back from Peru.

Peru have announced a further drop in copper production of 7% making global supply issues tighter

Freddie I’ve met him a few times he is a very nice person, do I want to meet up with you no not really you are too negative but come to the next Stroud meeting and talk about things

Northern front

https://www.ggpchat.co.uk/viewtopic.php?t=327

3 posts on 24th March

Tungsten is more likely though from the Northern front 1st level

Newcrest have far bigger overheads and costs for HO etc are spread around projects, that’s what I think anyway.

If other commodities are achievable then further cuts to the AISC will be realised.

The definite one is silver which will be found in the gold Dore bars which will be sent to the Perth mint.

We can only assume that cobalt is difficult to achieve from these ores, but if there’s enough they might go for it.

There’s others though such as tungsten, nickel and possibly moly.

The development Ore I was talking about earlier may go to Telfer as test loads so they can practice on it 🙂

The AISC figure is still quoted as $643 but maybe will go up with inflation

What does 450,000ozeq amount to?

30% = 135,000

A gold price of $1943 oz

AISC $643

= $1,300 per oz

= $175.5m per annum pre tolling costs, taxes etc

That’s likely for a minimum of 11 years on of out of date Life of Mine Figures maybe 12-13 years with next mine plan and more than likely a lot longer on future MREs

I can still see people don’t appreciate what’s happening.

We have a decline length with permissions to construct to the point where the Decline turns right and then starts the Production Decline.

From this turn right there is a smaller exploration drive that carries on through the top of the sulphides where HAD005 went through and then on into the centre of the orebody to form what looks like a TV aerial. This is where the fan drilling will start.

This exploration drive is around 750-1000m long so it’s going to take time to form. It will be going through high and low grade ore and this will be stockpiled on the Run of Mine area.

They’re not likely to take it to Telfer until there’s enough to warrant the expense.

Some people call this Development Ore.

Back to the Decline:-

From where it turns right there is another 500m of Decline to get to the Western Front access drive entrance.

There’s about another 500m+ of development drives before stoping tunnels can start, plus production ventilation has to be in place.

Production in my opinion is second half of next year and will be a slow start building up through 2025 to maybe 450k ozeq.

Primary crushers and grinders are mentioned in the environmental assessment and by the contractor.

This will reduce the bulking factor associated with ore extraction and mean more ore can be loaded on each wagon , tonnage permitting.

I personally can’t see reaching that right turn for February 24 and actually reaching the ore another couple of months.

However there are 2 other ancillary drives heading for the ore if extra gangs are used could reach the ore around March.

Hi Bellers

I think that has something to do with it but they are still joint venturing with juniors.

The shift though is junior’s with lithium and they don’t want to pay a lot for it.

A few days before our jv announcement with Rio they announced a jv with a junior who had lithium targets.

This might explain it

https://www.sharecafe.com.au/2023/05/04/rio-tinto-sizes-up-its-lithium-play-options/

Hi Jiffy

Valid question I wondered that as well.

Rio have been doing the minimum amount of work on Paterson South just holding on to the tenements.

Since 2000 the major companies hived off their exploration projects concentrating on producing but keeping their toe in with joint ventures letting juniors do the work.

Paterson South has some extremely good targets which is why they’ve kept that 49% clause in just in case, but it has issues.

It’s too far from Winu

Strickland has a 50% heritage restriction on it which Ggp are negotiating.

The targets are spread out.

Gold is not their target commodity

For Ggp they are fantastic targets close to Havieron, similar to Havieron style and the size they’re looking for.

Rio still have other joint ventures around , one especially is interesting with Carawine.

http://www.carawine.com.au/site/projects/paterson-project-au-cu-co

Paterson West

Red dog and Basel contain lots of smaller targets but they are mainly copper one of Rio’s target commodities

This is further from Winu but close to Telfer.

They haven’t finished farming in to it yet, is this something for another future tie up with Ggp possibly, I would expect Carawine to end up with a Royalty payment out of it, they’ve got a big land holding and not a lot of cash by the look of it.

Ggp is growing they have a debt facility, Cyprium Metals who want to bring Nifty back into production are having difficulties in that respect

Https://audioboom.com/posts/8311471-the-sunday-roast-featuring-shaun-day-md-of-greatland-gold-aim-ggp-ggp-tm1-bsfa-vrs-fox-c

“The hunted becomes the hunter”

“Like a rocket on a launch pad”

“Reading this I thought Rio were farming in on your land, but no you’re after their land”

On that graphic when it gets passed the 4th spiral along that straight it will all be in the Lower Tillite aquifer a very strong rock . It will be a completely different scenario to what we have now.

The Decline will be able to advance 6.5m per shift, I doubt we will get 2 advances per day, 1 and a bit probably 8m per day.

It can only advance the greater of the height or the width to keep the stability of the roof ie 6.5m.

I reckon 2 -3 months from now before that happens.

Https://www.ggpchat.co.uk/viewtopic.php?p=4333#p4333

Https://www.ggpchat.co.uk/viewtopic.php?p=4332#p4332

Should have said Oakover river very confusing as our Oakriver project is up by Winu

Cyprium Metals Nifty mine is still in care and maintenance, studies are progressing to restart it.

Look at this update about it especially page 2 “Strategic Review”

They can’t get the finance sorted they’ve raised some through a placement.

https://wcsecure.weblink.com.au/pdf/CYM/02659553.pdf

Nifty is on the same fault line with Ggp’s new tenement application Oakriver/Millennium .

Cyprium’s Maroochydore is halfway between Nifty and Oakover, it is a strong copper/cobalt project.

Without Shaun I doubt that Ggp funding last year would have happened.

Hi Sandgrounded

I thought Shaun made it perfectly clear in his last interviews that Newmont are unlikely to sell the 70% and if they did it would go out to market.

We haven’t the right of first refusal we have a last right of refusal meaning if somebody has made an offer we can match it.

It’s not going to happen, I can’t see them selling although all the pointers in Newmonts presentations suggest it will be an outlier but the high grades will still be a big attraction and perform better than some of their other operations.

Encounter Resources look like they have intentions of using Telfer from their Lamil and Yeneene projects.

If you’ve been following the story Encounter buy up unwanted projects from the majors, Ggp will have competition if Telfer comes on the market.

Lamil is still a few years off production but certainly looks good. Yeneene to the SW is further behind in time, emphasis on Lamil.

Yesterday Paddy and JC picked up on the new licence application bordering Yeneene for Ggp.

Prospects for Telfer being a hub producer for many years seem to be growing.

The company continues to grow while the sp shenanigans continue

https://www.ggpchat.co.uk/viewtopic.php?t=730

Https://www.ggpchat.co.uk/viewtopic.php?t=729

Paul Hallam was a non exec director at Ginbaldie resources from 2011-2019 when the Chinese firm Ansteel took it over.

They had a lot of iron ore licences, Ansteel weren’t interested in the Strickland licence.

Gindalbie drilled 6 air core holes and is mentioned in Ggp RNS on the Rio jv.

Alloy metals took control of the licence and then Strickland resources when Rio joint ventures with them.

Strickland elected to have a Royalty rather than keep a small % of the licence, this is also shown in that RNS.

Paul must have had some knowledge of what was at the Paterson Dome target.