Member Info for Bamps21

Remember the copper and gold grades are phenomenal in the top level of the Western Front and also in the 2nd level of the Eastern Front.

Hi Scarab
There’s a lot of work on each level.
The start of the SLOS will have few faces open and due to hit and miss we need more faces open quickly.
Which is why I was advocating taking the SLOS into the Northern Corridor high grade blobs to give them more to go at on the first level, giving them more time to get the Decline lower.
When you get passed the 3-400m depth of ore, the high grade Northern Front of the sulphides is not there and the Eastern Front is shrinking.
Deeper down there is only the Western front so more faces have to be opened up lower down to provide more faces to work on so makes sense to add in NortherCorridor blobs into the SLOS.
Last thing production wants is intermittent delivery of ore to surface, meticulous planning is required.
To my mind there’s 20 years life in this SLOS operation with Capex being paid for by production.

Hi Peter
I’m trying to put some reality on these Decline plans.
Reaching the ore is not the same as production.
I’ve been saying for some time there’s a terrific amount of work to do once the exploration design is complete, I’ve said about 6 months but from what Shaun was saying might be slightly longer.
More crews on more mine faces is the only way a big acceleration will occur.
2023 is for infrastructure and admin
2024 is start of production
2025 is full ramp up of production

2023 has always been the year of our highest capex then dropping off in 2024 and lower still in 2025.
This is why Shaun had to get large sums of money ready.

Hi MFU
The only MRE that will be much good for Havieron plans will be the one for the mining plan, as you heard yesterday NCM are governed by the TCX in what reserves can be used and not resources in the FS.
If they bring out an early MRE with a large increase in resources and not reserves were stuffed, they will need to do another one when information is available.

SLOS operation is designed as a hit and miss operations , meaning the next adjacent drive is missed out and will not be driven till the 2 adjacent drives are backfilled.
Once they start further Fronts need to be opened up away from the Western Front 1st level.
The Eastern Front is the next zone on the same level which again will be hit and miss and further round the Northern Front.
The NF is different one drive is going right through the middle forming one long stope.
While that is happening the Decline will be on its way down passing the Western Front 2nd level to allow a chequerboard pattern underneath the 1st level.
The Decline will continue downwards on a separate contract.
This will be a long term contract.
400m to say 2000m to the bottom at bulk level mine level gives a Decline length over 11km at 6m per day = 5 years
Capex all paid for by the SLOS operation

Let’s just see what is going to happen with the Decline this year:-
Firstly the approvals for an exploration Decline only allow it to go down to 400m.
That means it finishes 20m above the ore, however by the time it gets down there further approvals should be obtained to go lower.
The sulphides top is not a constant level, above the Western front the top is at 420m below surface then steps down 30m east over the Dyke.
A spur from the Decline to the centre of the ore body will go through this step taking out some sample ore but not much.
The SLOS operation work by driving a stope through the ore and then fan drilling upwards and exploding the rock so it falls into the drive.
This means the stope has to be around 70m down, so the first stoping level will need to be at around the 500m from surface.
400 down to 500 is another 100m depth of Decline giving a length of 704m to be constructed to achieve a production level.
From the Decline to the Western Front is approximately 500m of drives.
Plus auxiliary drives and vent shafts.

Getting to first ore is a symbolic point in time not a financial one.
The Western Front completion is paramount.

Hi L-a
You will need a conveyor to get more than 3mt out

Taverham
That is not correct, he is engaging all the time.
Two members of the Board are London based, the Agms are held here.

Seriously skint
You never really read what I wrote , you seem blinded with an attitude towards Shaun and take it out on anyone who tries to show what’s happened.
Don’t take it out on me or anyone else write to Shaun express your concerns directly not keep bleating the same rhetoric that others keep regurgitating.
Get off your ass and do something about it.

I complained to Shaun about the standard of the drilling logs and he sorted them.

Hi Zoros
Before Xmas Shaun mentioned that NCM told him that the MRE would not be released in December and released early in 2023.
Then afterwards told him it wouldn’t be delayed for too long into the New Year.
It’s not Shaun who is moving any goal posts

Hi Sharketmare
It’s not as simple as you say, Shaun spent sometime explaining at the Townhall about the Ggp MRE.
If they had produced an MRE with upto date information expressing a large increase and then NCM produce one lower with a conservative increase it would have caused a lot of questions.
They played it down and produced one that was more conservative to allow NCM some leaway, in the end they both produced an MRE that were closely aligned.

It’s a question of working as a united team to get to First Production.
I believe Jimmy Wilson has a lot to do with altering all these plans , NCM sit up and listen to him he’s very experienced and knows what’s what.
We might be the junior partner but he’s taking a leading role and Shaun has to listen to him.

We are in very good hands.

There’s only one Bamps :))

Hi Zoros
Cheek of it that’s not me.
When I registered ages ago I had to have a gap
So the real me on ADFVN is Bamps 21
I don’t post much too messy

Great heading.
There’s a lot on here at the moment doing it , having a go at anyone and especially Shaun.
I’ve met Shaun 4 times now and he will ask any question you throw at him.
Make the effort to get to meet him or send him an email.

People with short memories forget the time when GH was in charge at the sp languished at 1.6p then dropped below 1p, this Board was very toxic then probably more so than it is now.

GH was not a miner he stated that fact, we had no one to sit with NCM on the joint panel and argue our case. We were ripe for a roll over and SB knew it.
Callum said Shaun was on a long list of candidates for the CEO/MD position and when he and GH sat down with Shaun they both thought he was the man for the position.
His enthusiasm rubs off on the rest of us at these meetings, he is definitely the one to lead us to first Ore there is no doubt on that.
He has Institutional Investors that follow him and want invest.
GH didn’t have the similar backing, we would now be scratching for funding and probably not funded to production .
I met GH last year and he’s a smashing guy and will think about investing with him again.

Hi Kevin
I can sense you are in a loss situation but blaming the fall on Shaun is not right. He’s turned a very precarious position into a very stable one.
The market and manipulators are forcing this down for whatever reason like when they forced it up in the first place.
Obvious you haven’t taken in what I was saying yesterday, this year is about infrastructure construction and administration process. Next year is about First Ore, it makes no difference to the sp if they produce an MRE now it won’t effect it.
An MRE now is going to be of no use , it’s the Mining Plan that’s needed to be sent for approval.
It doesn’t need an MRE at this stage.
What we could do with is a plan for a 3m ton per annum mine for a lot longer Life of Mine than 9 years as at present.
A Life of Mine for 15 years or more is a Tier 1 mine, we still have a Tier 2 mine at the moment with that 9 years mine life.

Whatever happens this year will not prevent First Ore next year, Telfer plant is on the verge of mothballing it needs the Ore.
Telfer needs the Ore
NCM needs the Ore
Greatland needs the Ore

Stop looking at daily sp

Hi Paddy
Can we make clear what Shaun said about the Decline finishing early next year, we believe this to be all the infrastructure to be able to remove ore.

Great that they’re thinking of solar panels.
Great photo on Calidus presentation up by Panorama of them building a solar farm

This is such a complex ore body it’s not uniform metallurgy loads of different elements involved , with a very hard brittle Dyke running through it.
The top of the orebody is still being drilled out with the latest intercept in the Northern breccia only about 4 months old. Still inputting into the data.

My feelings are like yours I want the sp to rise, what I don’t want is a massive rise and retrenchment, but the way this orebody is so complex I’m willing to be more patient than most of you.
The sp will rise in line with the asset growth given time. It was always forecasted to start production in 2024 not 2023.
There is an awful amount of work to do underground by the end of the year before any ore is brought out below 400m.
I take heart that we are fully funded till production, I don’t believe we will see another fund raise with the Aussie listing or consolidation now is not the time in my opinion. That’s not to say there won’t be a fund raise depends what it’s for .

It’s a big complex mine planning operation, a haulage road needs to be approved and built before the Mine Plan gets government approval.

Havieron is not a small uniform orebody and is not spread out and will take time.
I looked over Red Chris last night while Stuart was on.
The bulk caving plan and FS will come a lot quicker than Havieron it’s spread out in a long line it can be split into sections , it’s a more uniform orebody with less complex metallurgy, but it’s gold grades are weak half that of Telfers weak stuff.
It’s hit problems and the AISC has shot up to $5060 per oz last quarter.
The quantities though are large and revenues are supported by large copper tonnages.
Havieron AISC is still forecasted to be low, I believe this may rise. I have been thinking for sometime the top 300m or more will be extracted by the SLOS method and backfilled leaving the surface intact.
This will prevent drainage problems into the mine.
When the bulk caves start they will leave behind “caves”.

Well it’s a complex plan if they need more time then I’m afraid they need more time but the ore was always due to be extracted in 2024 which we all knew that.

Hi L-a
What’s the point of having news now of 9moz when we all know there’s a lot more there.
It would still do no good for the sp we need the DTM and Mining plan issued to the government for approval.

Even if we get a resource upgrade tomorrow the sp price would probably still go down with the sell on news brigade still selling.
We need a Decision to Mine and a Mining Plan confident of being carried out that propels Havieron into a Tier 1 status

The MRE or more importantly the Resource modelling is and has been a fast moving target right back to HAD 005 times.
It’s like trying to hit a shooting star with a catapult.

2023 has always been the year of getting down to the ore body while in the background the administration side of it moves forward.
Patience is the key.
If they produced an MRE now it would be out of date tomorrow.
Let’s let them finish the resource drilling and get the figures to some sort of reality.
A Resource Model that everyone’s comfortable with so that a mining plan can be formalised without to many changes.
They’re still inputting drill results into that top 300m so what’s the point of issuing something that is out of date.

Patience patience patience