Member Info for Bamps21

Hi Paddy
That made me chuckle
The start of an empire.

The force strikes back
Let the Force be with you :))

“Commenting on his proposed appointment as Executive Director, Mr Wilson said: "Havieron is a world-class gold-copper discovery of great value. Ensuring we deliver the project to its full potential will in turn drive significant shareholder returns. I look forward to working with Newcrest to help achieve this outcome for Greatland shareholders and to play a leading role in finding the next world-class project for the Company."

In addition, the Board will seek to appoint an additional independent director in due course.“

Newcrest need to up their game with this guy on the Joint Venture committee

Hi Blantyre
There’s another one coming soon!

Hi Everyones
That’s paying for quality.

What about this for dilution 3.5bn shares for £3m working capital?
Check out the top losers to see whose just done that.

Then look to see whose in the top risers?

Your head is the wrong place at the moment, go and have a think

The future
This is de-risked, I don’t think people realise the consequences of that.
Institutions will now start looking at this as a credible investment they will want in and they will have to pay.

Forget the past
Nothing much left to be gained for shorters here.
NCM conspiracies are dead in the water , put it to rest. Give it a rest for pity’s sake.

Hi Doublehun
I don’t like dilution either but these announcements are just awesome, this has thrown us into a different league than all other junior miners.
As that guy said on that podcast “now a mini major”
Just quality quality quality:))

Hi Naylor
You don’t get quality by not paying for it.
They will be worth their weight in gold!
Extroadinary strong appointments

Hi T-Rex
You’re right there this sort of funding is extremely rare prior to a Feasibility Study and a Decision to Mine.
This is a major de-risk moment.
This is the point in time when Shaun’s defensive stance is behind him and he can light the touch paper and go on the offensive.

This is just quality,quality, quality.
Will be one of the strongest Boards in Australia at the moment.

Hi Mush
I miss led you there it’s an audio , we are not that tech savvy :))
After the other 3 meetings are over me and Liam talking about doing a podcast based on it.
Door4left might put the notes up if I let him, I blurted out some secrets:)) shhhh!
Ones lucky enough to get to Stirling might get to see it.
The room upstairs in the Stroud pub was great for showing slides on the big screen.

I hope all who attended today enjoyed my slide show, all off the cuff :))
Doors4left recorded it that should be fun, loads of editing.

Hi Blantyreboy
2 years ago 20-30m oz was a hopeful dream.
Now 30m oz I wouldn’t bet against it.
2 years time who knows what to expect depending on what depth they decide to go to dreams of 50m oz maybe achievable.
Further to that depending on grades and further growth I can knock up figures of 70moz but that would be an extreme amount.
Massive find and growing continually

Hi Redirons
Will be great to meet you, see you there :))

Hi MFU
Would have been good to meet up.
It’s very easy to find just off the M5 at Stroud, plenty of parking. Good walking area around the Sharpness canal and along the Severn.

Hi Ben
Don’t know about 2moz pa average grade maybe 0.75 to 1g/t
Looking forward to meeting Liam this afternoon at the Stroud meeting.
I’ve got my slides ready to discuss the latest drills.
I’ve no idea how many people will attend , I could be chatting to myself :))

Recovery of cobalt from nickel sulphide ores.
“The Sherritt process is a hydrometallurgical process named for Sherritt Gordon Mines Ltd. (now Sherritt International) of Sherridon and Lynn Lake Manitoba Canada, based on the older Forward process developed by Dr. Frank Forward for the recovery of copper and nickel from those same mines. Nickel sulfide concentrates can be treated by either roasting or flash smelting to produce matte from which nickel and cobalt can be recovered hydrometallurgically, or they may be treated by an ammonia solution pressure leach. The residue is removed. A feed of matte and sulfide concentrate containing approximately 0.4% cobalt and 30% sulfur is pressure leached at elevated temperature and pressure in an ammoniacal solution to produce a solution of nickel, copper and cobalt. By boiling away the ammonia; copper is precipitated as a sulfide and sent to a smelter. Hydrogen sulfide is added to the autoclave to remove nickel sulfide and copper sulfide which is fed back to the leaching process. Air is then passed through the solution in the autoclave for oxyhydrolysis. The solution is then reduced with hydrogen, again at high temperature and pressure, to precipitate nickel powder (>99%). The remaining solution (containing approximately equal proportions of nickel and cobalt sulfides), is then adjusted (to a lower temperature and pressure) to precipitate the mixed sulfides and the fluid is concentrated and crystallized into ammonium sulfate ((NH4)2SO4). The mixed sulfides are pressure leached with air and sulfuric acid. Ammonia is then added to remove potassium and iron as jarosite (KFe3+
3 (OH)6(SO4)2). More ammonia and air is added for oxidation. The solution is removed from the autoclave and sulfuric acid added to remove nickel as nickel(II) sulfate-ammonium sulfate hexahydrate ((NiSO4)•((NH4)2SO4)•6H2O) which is then sent to have its nickel recovered. The solution is then further reduced with more sulfuric acid and cobalt metal powder is added to aid in the nucleation of precipitants (seeding). Addition of hydrogen gas to saturation precipitates cobalt powder with a purity of approximately 99.6%.”

At the moment the Telfer trains do not have the capabilities to refined metals, they produce copper concentrates.
Metals are refined at processing plants.
Different chemical processes are required for different metals.

Cobalt from copper/sulphides ores
“The ores are treated by a sulfatizing roast in a fluidized bed furnace to convert copper and cobalt sulfides into soluble sulfates and iron into insoluble hematite. The calcine is subsequently leached with sulfuric acid from the spent copper recovery electrolyte. Oxide concentrates are introduced at this leaching step to maintain the acid balance in the circuit. Iron and aluminum are removed from the leach solution by the addition of lime, and copper is electrowon on copper cathodes. A part of the spent electrolyte enters the cobalt recovery circuit and is purified by the removal of iron, copper, nickel, and zinc prior to the precipitation of cobalt as its hydroxide. This is accomplished by the addition of more lime to raise the pH until the remaining copper precipitates. This copper is sent back to the copper circuit. As more lime is then added, a copper-cobaltite precipitates and is fed back to the leaching process. Sodium hydrosulfide (NaHS) is added (along with some metallic cobalt as a catalyst) to precipitate nickel sulfide (NiS). Hydrogen sulfide (H2S) and sodium carbonate (Na2CO3) are then added to precipitate zinc sulfide (ZnS). Lime is then added to saturation to precipitate cobalt(II) hydroxide (Co(OH)2). In the final stages, this cobalt hydroxide is redissolved and the metal is refined by electrolysis. The resulting cobalt cathodes are crushed and vacuum degassed to obtain a pure cobalt metal.”

You can see why it is so expensive to make cobalt.
Telfer is not equipped to produce refined metals.

Personally I think Telfer needs to change to produce copper , nickel and cobalt on site to become a one stop shop instead of sending the concentrate all the way to China.
The Nifty operation produces its own copper cathodes so why not Telfer.
It will have to introduce an electro winning operation.
Just my thoughts

Hi Ben
I wasn’t thinking of 3mt pa each I’m thinking 10mt.
An overland conveyor would cope with that.
There were 3 coming out at Telfer.
Both trains will be taken up by Havieron eventaually.
You have to stop and think 20m tons per how many years is that going to take to get it to Telfer if it reaches 1.25bn tons which is possible, 60 years.
There will be no stand alone plant at Havieron, crushers perhaps but not processing that’s big big costs.
Very difficult to get cobalt from copper sulphides but if they can I hope they do, much easier from nickel sulphides but still no sign of them

Not to forget NCM own 9% of Antipa so highly unlikely they will get shareholder support for a stand alone plant.
The geology of Minyari is going to make mining tricky.
The high grade intrusions are in a series of thin veins rising to the surface at 45degrees. The high grade will be difficult to get out on their own without removing the weaker ore between and the waste rock above and below. It’s going to need a skilled team to keep the dilution down and the ore grade consistent.

Hi Ggpt
10 years is an industry average.
To be honest I can’t see anything on Antipa jv although they have moved north to a target by Calibre , T…… ( can’t remember) a Havieron lookalike but it’s nearer Winu than Telfer.
Their Minyari I can’t get my head around will they open pit it or SLOS/SLC, the shape of it I don’t believe has been taken into account to give a dilution factor. At 45 degrees it will have a lot of waste to move before anything comes out with an open pit. Open pits normally are lower grades with their very bitty high grade I would expect it to get picked out by SLOS method rather than open pit.
It will nowhere near feed Telfer in time, if Havieron is not mined(highly unlikely) it will close or mothballed, will be very difficult to start up again.

NCM have been taking another look at what they have at Telfer with techniques gained from the experience of working with Ggp. They maybe lucky and find something.
Blackhills and Swan are still 2-3 years away from evaluating what’s there.
Havieron expansion looks very likely, I can see 2x 10moz mines being mined in tandem ie SLOS and EB bulk mine for many years to come.
Sprott keep going on about 9mt per annum but that’s with a conveyor, a vertical conveyor would take less time to install than a normal conveyor.
A vertical conveyor will take up the whole use of one train at Telfer, so eventually the EB could make use of the second one.

I wouldn’t rely on another elephant being found yet, they’re all hiding under cover :))