Member Info for Bamps21

Hi Ggpt
Thanks I do keep an eye on what they’re doing but I haven’t seen anything yet worth persuing in their jv.
I think Newcrest got frustrated and took over the management of that jv. Can’t see anything with IGO yet.
Minyari 100% is a long way off production and the 45 degree shaped ore body is not a beautiful shape like Havieron.
Not too sure about the Rio jv not followed that one very closely.

To be honest away from Ggp , The Grace project looks about the best in the Paterson

Hi Ggpt
Why do you say Antipa?

What’s interesting me at the moment is all the action happening around Panorama.
Thor to the east I am waiting in anticipation of their assay results due anytime soon. These aren’t cores they’re bagged samples from 48 RC drills close to our border and is a mirror image of Panoramas paleo-glacer gold field about 9km long.
A totally different type of gold play to what we know at Havieron laid down in a sediments in large areas above and below the basalt.
Thor have also drilled one hole into the nickel gossan and sleeved it ready to insert a downhole survey instrument. The gossan is indicating this to be a shallow play.
This nickel area straddles the eastern border .

Westar on the west is undertaking early work surveying, one area to the south of our gold target is said to be a gold and cobalt target.

I’ve posted pictures which explains it in far more detail
https://ggpchat.co.uk/viewtopic.php?t=239

Hi CRex
Funny you should ask cos IPad asked me the same question at the weekend.
Mila licence Kathleen Valley is west of Ernest Giles it’s just off the main 49 highway due south of Mount Keith. Now that mines tailings lake is enormous it looks larger than Telfers, I’m not sure if it’s feasible to get Ernest Giles ore to there, the road from EG goes SW to Laverton.
Look at their presentations cores are shown they’re totally different to WSBN or ARV latest cores.
I don’t know enough about core identification but you can see the quartz veining and sulphides
6.6m@ 14.86g/t au and 21.79g/t ag is the best.

Kathleen valley is in an isolated spot close to the abandoned township of Kathleen.

Very early exploration play , I’m not recommending these either way I haven’t studied these enough

Silverhorse
Why oh why would they want to bid for the 30% when they have the chance of buying 5% at last year’s prices.
You do talk nonsense

Zooming in to those cores the second tray down looks very similar to WSBN that is hardly any veining.
The top one he’s photographing I’ve been told is narrow peanut veins.
Cela I would stick to what you know it’s a very complex art saying what’s in cores, look what happened last time the cores looked like HAD005 and got everyone interested but the assays proved otherwise .
What we need is breccia in the cores to show that there’s been hydrothermal activity or quartz veining

Just a quick calculation for an open pit
100m deep with 45 degree slope would need 3.2m tons removed for the removal of 90,000 tons of ore , if it’s mineralised vein top to bottom then 2,000oz gold @ 0.75g/t allowing for dilution and 900t cu @1%.
That’s why I say wait to see if it’s viable, lot of work needed to show that it is.

Only getting to it.
Open pits by their nature have a lot of dilution, underground dilution is more selective with less dilution.
Vertical pipes such as Havieron have less dilution than a sloping ore body.

Hi Cela
I can see you are excited, to be honest I can’t see why.
These drills are drilled at around 60 degrees a 3m intercept will give you a horizontal width of 2.62m. That’s a very thin vein smaller than the width of a loaders bucket.
In an open pit to get that one bucket out you would need a thousand buckets of rock removed to get to it.
19g/t is an included figure in the length of the intercept these should be ignored and just look at the average.
A thin vein has more dilution or waste factors involved unlike a large ore body where internal dilution is a lot less. Havieron has a dilution factor of 6% an industry norm is 15% this maybe higher.

The cobalt grades are really good though but there is a risk factor here of the cost of removal.

This isn’t like an oil and gas company play, I’ve been in a few of them to know
LGO oil and gas had some good assets but lack of knowledge and disasters were my undoing with that one. One historical field they had looked really good and every drill hole had good results of 3-500 barrels per day , but in hindsight those drills shouldn’t have been drilled, water should have been pumped in from the start to boost pressures to make the oil come out. Every hole reduced the pressures and sand blocked the pumps. It was doomed to be a costly exercise. A stuck expensive downhole survey tool put paid to that company.
I bought in at 0.6p and didn’t or couldn’t sell at 7p , came out with a whacking.
Sound Energy asset in Morocco is enormous , I bought in at 4p and it got to a £ future looked bright but a drilling campaign of 4 holes couldn’t get the gas to flow due to the sand layer being too compacted, now languishing below 2p but new management are pulling it around.

That’s the trouble with oil and gas all the infrastructure is at the surface and if anything goes wrong it can scupper the project. You can’t dig a decline to get it out.

With gold mining most of the infrastructure is under the ground, once the decline is in place the risks for investors are far less but that doesn’t stop pump and dump merchants trying it on with investors.
Geologists can see through this, when they show pictures of cores they give a lot of clues away of what’s down there.
Plans and sections particularly give me insights as too what’s worth investing in and everything I’ve seen recently from many companies is not a patch on what Havieron is shaping up to be.
This is a huge compact ore deposit you are not likely to see another one like this in your lifetime, this is why myself and many others had not sold when it reached 38p.
It probably did overstretch it’s value at the time but big entities have manipulated for too long now and 11p is way too low for its correct value.
The decline getting closer to the ore body is a sure catalyst to regain some value and will be kick started by the forthcoming Feasibility Study which will remove risks for Institutional Investors.
I still believe this to be a strong buy at these levels and 25p a hold then sit on your hands.
This is not advice of any sort it’s your own decision whatever you do.
Good luck

Hi Ollie
Why have you twisted what Ben was trying to get over?
20moz has been known for some time now, in fact Alistair Clayton of ARV said 18 months ago it could be a 25m oz discovery.
Callum told me it was a 20m oz deposit.
It’s nearly 2 years now since my calculations were approaching 20m.
It’s hard to ignore the fact that Shaun Day has said a few times now in public it’s a 20moz project.
This isn’t a pump and dump scenario, this is now waiting for the drilling to catch up to prove up the modelling.
As the Decline gets deeper into harder rock the descent will accelerate, the anticipation will heighten .
It will accelerate especially when more offshoots are opened up and more gangs are working.

“Sell at 25p when you get your money back”
Why did you invest here in the first place if you did not think it was going to go up when you did invest.
If you bought in at 25p and it eventually gets back to that figure where will you put your money, if it’s rising surely it’s best to wait and get some profit from it.
I can tell you a lot of us can see many multiples of that.
I’ve been in a few shares thinking they were going to rise but the fundamentals are totally different here, the situation with Telfer running out of ore means this mine has to go into production very quickly, possibly the fastest ever of its size.
By all means sell when you get your money back but don’t look back and regret it.

Hi TT
There was an ARV tweet showing someone photographing cores, blow the photo up and the second tray down looks similar to WSBN cores not exciting but the next tray up Hydro described as Pea**** veins.
These wouldn’t have affected the price

Oops
their 20m doesn’t include the gap zone whereas mine “does”

Hi Jiffy
I just want to clarify what the 20m ounces is referring to.
This isn’t the amount of mineable minerals, it’s the amount of minerals in the ore body including the weak alteration.
Hydro posted on the other site a great piece about weak ore coming into play as the gold price rises.

I refer you to Telfer , where 4 or 5 years ago the mine was due to close in 2023. Weak uneconomic ore was known to exist and the price of gold used for the calculations was an average $1250.
The rise of gold to $1850 has brought that weak ore into economic viability.

At Havieron the calculations were based on a price of $1500 and is fine for the high grade gold as it’s economical value is much higher. This 20m figure is now being talked about because the weaker ore is now becoming an economical commodity but it’s still uncertain of the potential value until it’s brought into the reserves.

My calculations were based on 2 sized ovoids on top of one another, their 20m doesn’t include the gap zone whereas mine doesn’t and I’m at a range of 23-28moz.

My calcs were before recent increases in the ovoid sizes and I haven’t reassessed these sizes yet.
Hydro’s point is as the gold price rises further it brings more weaker ore into play increasing the 20m further maybe to my 28m .
This is still likely to grow my calcs are down to 1300m of ore but when I’ve calculated down to 1900m (maybe the deepest we can get to) the figures go over 40m and that hasn’t taken into account of the Eastern Breccia grades average being higher than the main ovoid or the fact Ggp seem to have used an average of around 0.6g/t to my 0.75g/t before the high grade in the northern corridor and great grades in the Deeps.

This is just getting bigger and better

Hi Panama
You never told me you were writing such a clever piece , I think you’re out to win the chocolate .
I’ve ripped mine up after that :((
Was lovely to see you at the weekend and still smiling :))

Hi Strudel
Well done for organising this get together looking forward to meeting everyone and my friends Lenz and Thelearner :))

If you had spent $Xm drilling the Blackhills and PRE plus all the geological reports and modelling, storage of samples would you look favourably on a Junior explorer taking all this over without hardly paying anything towards it.
There’s over 300 drills gone into the Juri jv, there’s a lot of information changed hands there.
Most big miners do not pay much for them to go into a joint venture they want the Juniors to find a Tier 1, they are not really interested in Tier 2 and most Juniors only find Tier 3s.
Newcrest have not paid out big sums for any of their exploration jv they just put a foot in the door.
20 years ago the big players pulled out of exploration and just buy good targets.
Look what’s happening at De Greys with a takeover hotting up.
The big boys only want big assets and will pay for it.
Havieron and Telfer together make a Tier 2 at the moment next weeks MRE May get it close to a Tier 1 status but more likely by next February. This may stir interest to take out Newcrest/ Havieron having a joint venture complicates the issue for that to happen

Silverhorse
If people could work out what you are on about that would be helpful.
I can tell you don’t like our Shaun and I’m with Jerry here after meeting him twice and stood next to him for over an hour during his informal Q&A he certainly has qualities that gives shareholders loads of confidence in him.
I suggest you get off your backside and get to meet the man instead of moaning on a bulletin board

Silverhorse
I hope nobody takes any notice of your daft statements!