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Will the Board lose their performance rights if the FS comes out after the 4th 🤷‍♂️

Probably one item that will come up in the Sheffield meeting on the 29th November is the rising gold price on the ore resource.

There are 2 different scenarios with this item:-

1

Is the effect on the open pits. We've already witnessed the increase in the pit shell viability of the West Dome pit from AUD$3450 to$4500. This increase is possible from info deemed from historical drilling data. What they are doing now is a very intensive infill programme to bring this to mine life status.

2

The effects on Havieron ore.

Being underground its viability is based on NSR shells or cubes.

It's a complex subject I will try and explain as simple as I can.

Start with one drill going through a 75m cube of ore , whatever that grade is you would assume that cube would have the same grade throughout so is classed as inferred. The viability of that cube is the NSR cut off , so if it's low grade say 0.1g/t then the returns from that ore would the value of that ore less the costs. They give each cube an NSR cut off value. At Havieron its sulphides are around $90 US and the breccia are $50.

There are only so many cubes in those sulphides so a rising price in gold does not increase the number of cubes it just makes those cubes more valuable. Some of these cubes may not make a higher NSR cut off and be excluded to the lower cut off.

The breccia are not constrained by boundaries so their number of cubes could increase. If the NSR remains the same the number of cubes will increase.

Well I tried 🙂

The anniversary of the huge buying of Telfer and Havieron is on the 4th December.

In the documents they stated that the Feasibility Study would be within one year.

The Sheffield meeting has been arranged to try and avoid a clash with the London Town Hall.

Either side of that weekend for the FS, it's all dependent on the approval process I'm assuming.

Any later would make London very difficult for bookings like venue, hotels, trains.

My wife went to London recently and she said everywhere was heaving with people.

The Cheshire Cheese gets packed with all us lot, will we get in this time?

Hi Teo

I'm glad you enjoyed the evening thanks for the feedback 🙂

Hi djm

Thanks for your feedback it was most welcome.

🙂

I've posted before that in the 2017 annual report Ggp stated that EG has similarities to the Mr Magnet mine, one of Australias oldest mines and still going.

I've posted some images here:-

https://www.ggpchat.co.uk/viewtopic.php?p=6932#p6932

It's a Ramelius project they have decided to upgrade their plant there instead of building another, ramping up to 4.3mtpa but have extra trucking costs of $120m.

The similarities with EG except it's under 100-200m of cover where they have open pits all over the place. EG has over 30km of strike.

All those pits mean more transport costs and machinery.

Our Havieron is compact once the infrastructure is there it won't need that much machinery costs with the ounces per vertical metre of 8-10,000oz per metre.

That's just for the starter mine about 8-10% of the project.

That's a big statement which mine are you on about?

Ggp have numerous mines just about to start production:-

ESC 2026

Stage 7 from June 26

Stage 2 from June 27

WDD from 28

Havieron from 28 ramp up

Is there another one I don't know about?

WDD and Havieron in tandem on one train could be producing 6-700koz

Open pits and MDU on train 2 could be producing 200koz.

Havieron AISC is forecast to be around A$1600

A$2bn capex are we building another plant then?

For your own sanity please filter this load of Bull

I've posted some images of the new possible extension to the West Dome Deeps

See here:-

https://www.ggpchat.co.uk/viewtopic.php?p=6929#p6929

Very exciting

Oh good that post about another stock has been removed

Less than 2 weeks to the next meeting in Sheffield

See here for details:-https://www.ggpchat.co.uk/viewtopic.php?p=6927#p6927

Why have you hijacked my thread with a ramp for another stock, one actually I'm totally not interested in

A good thread on hotcopper started by Paddy describing the new possible extension we found last week to the WDD.

https://hotcopper.com.au/threads/west-dome-continuity.8876842/page-8

Some items aren't quite right and I would like to clarify.

There are 2 mounds close to being on top of the new area but the westerly one is a low grade spoil heap which will be processed in time. Also the stage 2 pit extension will mean these 2 mounds would need remodelling anyway.

The 1,000m from the centre of the pit doesn't really provide an analysis of what's happening. Looking at the section through the pit the WDD roughly correlates with the base of the pit position. Extending the WDD x 300m would bring it in line with the open pit extension so blasting vibrations is not going to be an issue to the plant.

I'm not really concerned about Goldworms comments on the shear faulting effecting the mining. Most of these larger shear faults were there prior to the intrusion events and the intrusions would have followed these through the WDD and into the open pit. The intrusions themselves would have caused a great number of pressure and heat faulting on its way up. The faults will cause issues with the mining as will the tightness of the anti cline fold, which I've shown many times in my presentations. I doubt it will be a major issue in the WDD.

The latest satellite image showing works to the Stage 7 on top of the saddle.

See here:-

https://www.ggpchat.co.uk/viewtopic.php?p=6926#p6926

The image is indicating a new haul road.

This looks to involve a big backfill operation , material coming just from the south of the haul road.

Without this backfilling to obtain a new route to the new waste dump big costs would have occurred with extra diesel and tyre wear.

Hi Howezap

Great read on banded iron.

If anybody has doubts about EG best to read this.

EG will end up like Jundee a mass of tunnel infrastructure underground for years to come.

The greenstone belt lithologies comprise a succession of steeply dipping and intensely deformed plus interlayered mafic and ultramafic extrusive and intrusive rocks, felsic volcanics and banded iron formations (BIF). Granitic rocks intrude the greenstone belt stratigraphy.

Banded iron formations are the dominant host rocks for gold mineralisation in the project. Gold mineralisation is typically associated the pyrite & pyrrhotite replacement of magnetite in the banded iron. High grade ore shoots are developed along the intersection of the BIF and a swarm of northeast trending faults,

Sound familiar 🤣

Mount Magnet

https://www.rameliusresources.com.au/mt-magnet-gold-mine/

Check out the geology 🙂

You should no mate you sharing my bottle 🤣

The 2017 annual report suggests that Ernest Giles is a Mt Magnet lookalike 🙂

Open pits everywhere and finding gold and still increasing resources.

One of the oldest goldmines in Oz and still going.

Ernest Giles over 30km of strike

Everything about this thread is positive so far

🤣