Member Info for Bamps21

Hi TT
I could be wrong but I remember Shaun saying the only way he would let it go would be if Scallywag is inserted into the Havieron jv on improved terms.
Posters have suggested keeping the 100% but a new jv including Havieron and Scallywag would be much better to mine Havieron.
I asked about the conveyor decline coming out in Scallywag as there’s hardly any soft cover there. Shaun dismissed it as a no no but in a combined jv it could be on.
I don’t personally think he will let it go.

Oops that’s funny “ been not beer” :))

The results RNS said they had found native copper in the cover sequence.
Native copper is a rare occurrence and comes from copper sulphide ores which have been reduced down by oxidation.
These copper sulphide ores are numerous but Chalcopyrites we already know are at Havieron and today they mentioned this ore. That’s great news for a start .
Native copper also suggests supergene enrichment with sulphide ores lower down.
( Supergene is where weathering of strata wash minerals out and form a build up of materials in a trap lower down as at Winu which has about 75m thick supergene bed)
Today’s RNS has highlighted a lot of water flowing.
Remember this is a desert before the rainy season.
This suggests to me a trap holding the water back, when they drilled through it the water flowed into hole preventing them recovering this material for assay.
You can see this water intercept between 77m and 174m.
This looks like where the supergene is and the silver reported is right at the top of this layer at 77m.

The plate they were looking for was lower down and can be seen on the sections.

Some of the results have had problems with the water smearing the grades especially at A35 where they were mud drilling, so they will want to do a lot more work to identify what is there.

Todays RNS also mentioned going deeper which had beer suggested that’s where sulphide ores could be.

It’s a great results RNS but still lots of questions to be answered by drilling more deeper holes.

It’s definitely the best news from Scallywag we’ve had and there’s bismuth there too.

Hi TT
At Havieron we’ve had a farm in with Newcrest and the Havieron joint venture.
The right of first refusal lapsed when the farm in ended , it’s not in the Joint Venture.
Last year Shaun intimated he would like to include Scallywag in a revised joint venture under better terms but is still keen to go it alone.

To be fair though it would work better in the jv agreement being a lot closer to Telfer than Havieron is.

Paying in cash could be the reason for the £3.5m loss which should include the $1.7m spent on exploration.
Not many drills this year but loads of groundwork surveys all over the place Panorama, Bromus, Pascalle, Paterson Range East, Blackhills and Scallywag.
Air surveys this year over Panorama where 9 copper, silver, zinc anomalies have been identified.
No mention of the 12 nickel targets Shaun mentioned in his November interview.

Gold and copper anomalies identified at Bromus in the north of the licence area and again no mention of any nickel targets.
Must be catching from Newcrest :)))

Morning Panama
Looking forward to seeing you again on Thursday.
Was good to see in the RNS the interest on Newcrest debt was paid in cash, now stands at $52.2m.

From the RNS yesterday
A further diamond hole was completed at the Pearl target testing the EM conductor for 489 metres;
§ A small amount of native copper was noted in the mud rotary pre-collar at Pearl; and
§ Follow up drilling is being planned during 2023.

Native copper is quite a rare occurrence it won’t be in big quantities but it tells the geologists that this has come from copper sulphides.
Now they’ve drilled down to 489m I’m hearing this may not be deep enough for the sulphides and may suggest a layer of supergene enrichment.
What we don’t know is the angle of the drill if it’s a vertical and they want to go deeper they will need a new pad position.
Hence the last sentence “and follow up drilling is planned in 2023”

Hi Bablake
Callum referred to Newmont not selling as it says in that script

Hi Catchme
Nickel is in small quantities at the top of the orebody which probably will not be economical.
Callum I believe is talking about deep in the Eastern breccia for nickel and zinc quantities not something we’ve been privy to.
Even he’s talking about adjustments to the Telfer plant to cater for multi elements.
Another element to give us a credit from the processor is very valuable on top of the gold/copper revenues to reduce the AISC closer to $0.

My thoughts on the high levels of cobalt shown in the first few drills are said to be in uneconomical quantities within the Kriging estimates. Norf tried to disprove this in his interview with Liam. There’s high levels right down to about 700m of ore.
To me this is an obvious credit but metallurgists are saying it’s not economical prior to going to the processors but it is possible to gain some from the sludge at the bottom of the copper electrowinning with other elements removed by the electrolysis.
There will be some silver but the quantities will be low.
As Callum says there’s been multiple intrusions over many thousands of years coming up into Havieron with a multitude of minerals being brought into the orebody

Culpepper
I’ve just unfiltered you to see what jibberish you’re on about.
Why can’t you post anything that makes any sense worth reading?
Going back on filter I’m afraid

Nickel
“00:39:43:17 - 00:39:52:19
Liam
There's an underlying nickel story. You know much about this underlying nickel story?

00:39:52:19 - 00:40:00:20
Callum
I do, I've seen the data up to when I was present at Greatland up to the end of August in ‘21.

00:40:00:23 - 00:40:06:22
Liam
Okay. And does it make you really smile?

00:40:06:22 - 00:40:35:18
Callum
Well, yes, it does, because no, it's exciting because it's a multi-metal system. And as I mentioned before, there's some zinc in there. There's some nickel in there. But obviously the metallurgy at Telfer is slightly different. So, if you did want to pull out the extra metals there'd be some plant modifications required, but you know that's achievable in this day and age.”

32:30
Callum
“if you look at Greatland as a 30% producer from Havieron, there's a significant prize there, particularly when it goes into production, because generally when companies are going through this development phase, their share prices are somewhat depressed, but when production kicks in, you get a significantly high uplift in the share price.”

Callum talking about CAW 10 on Paterson Range East and another one to the east of Henrietta

“00:20:59:14 - 00:21:32:22
Callum
Yeah, very much so, also in the same exploration update from last week, Greatland were mentioning the fine fraction soil sample results from the Patterson Range East tenement that's very exciting as well because you can clearly see two anomalies there, basically the fine fraction soils have returned elevated levels of gold in two areas.

And they're not small, those areas. So that is definitely something to hone in on. And I'm sure that will be part of this year's work program for the company, because you just can't ignore that, that that's actually the meat and potatoes there. It to me, that looks very, very exciting along with the Black Hills results.”

“00:22:11:07 - 00:22:43:20
Callum
That's right, yeah. They've travelled along the existing access tracks and taken samples a predetermined distance apart and I'm not quite sure what the distance is in that case, but I think it may have been 50 meters or maybe 100 meters apart. They take it really as it says, a fine fraction. They know finer than a flour sieve kind of material and then detects how much gold is there.

And effectively looking through a cover sequence of plus maybe 20 meters of sand there. So, you're looking for very small responses of gold and there's definitely two sizable responses in separate areas there, which is quite exciting really. So, now the next step is to take further samples to try and contour it out and then potentially work out what the next strategy is from there, whether it's some ground geophysics or whether you just go straight to drilling.”

The “meat and potatoes “ :))

Liam’s interview with Callum
26 minutes in
“I think Newmont's looking at it as, you know, there's a bit of a tailwind here. If we can get these assets at these prices now, then you know, we're going to turn them around and make them worth a lot more in the future. So, but, you know, Morgan Stanley is forecasting a $2160 US gold during the course of this year.

So, Newmont's just trying to get in front of that and I think it's great. Now if Newmont, Newmont, hang on, want to hang onto Telfer and the Paterson assets. That's fantastic. And potentially that want to buy Greatland’s or Greatland’s portion of Havieron in that process. So that's a win for Greatland. Alternatively, if Newcrest sorry, if Newmont don't want to pursue the Paterson assets and that's an unlikely scenario, but nonetheless I'd say Greatland would throw its hat in the ring to try and purchase those assets.

Well, a scenario is that Greatland would purchase those assets from Newmont and Telfer would become a central processing hub for Greatland and it would make Greatland a mid-tier gold and copper producer. So, a much larger entity which is again a win for Greatland. So really for Greatland, the scenario at the moment is win win.”

He says it’s highly unlikely they will sell Havieron

Article see here:-
https://www.ggpchat.co.uk/viewtopic.php?t=669

Hi Ace
L-a sent me a piece from a newspaper in Perth recently.
The combined conglomerate of NEM & NCM they would have 79% of their net asset value in Australia and Papua NG.
3 of NCM projects will be in the top 5 comparing NAV
Cadia, NGM, Lihir, Penasquito , Red Chris.
These 5 will have 59% of the total NAV
Brucejack comes in at 10th

Performance over February
Newcrest up 0.7%
Newmont down 12.7%

Hi Paddy
Well none of us could understand why they didn’t take the 5% or the $85m SD offered them.
Perhaps they do want rid but god knows why.
Newmont must have put a spoke in their plans.

Hi Zoros
Not too sure about your debt analysis
Ggp reckon 3 years and NCM 4 years
You don’t add those to make 7 (well I suppose you could to prolong the debt) but the debt is served by 100% revenues so it’s still 3 to 4 years.
The 10% toll charge would disappear with just movement costs if we own Telfer too.

Though I would like to see Ggp own the lot, NCM haven’t started really fighting back yet and there big card in the hand is Havieron.
By the time this MRE comes out information will be 18 months worth to add on.
If they’re going to fight this takeover Havieron’s backlog of information will be brought forward and made public.
If Sherry is just putting up a front to get the offer up then Havieron information may not be opened up .
I personally hope things stay as they are , if Newmont take over Havieron we will become a tiny cog with little progress information forthcoming.
A Ggp buyout could then be beneficial.
Shaun is aggressively ambitious and I will go with which way he wants to take us within reason.

https://m.youtube.com/watch?v=wleXCKseRmM

It’s an average grade and the grades are expected to get lower.
Our First Ore is super douper high grade.
Just about to start chat with Liam think the TG lot can ask questions