Member Info for Bamps21

That blind unresearched ramping will lose a lot of people their hard earned cash, to me it’s worse than the trolls on here.
Anyway that share is not worth mentioning on here absolutely no comparison

The Western Front zone 1 is where the first production will come from.
They are targeting a 70m deep zone split into 2 levels of about 30m.
The top 30m contains the first section of HAD005 one of our best holes.
There’s some phenomenal gold and copper grades
within it.
Gold grades above 10g/t
11.23
64.1
32
103
211
12

Copper grades over 4%
10.42%
5.4%
8.5%
4%
5.3%
4.1%

You can see the high % of copper suggesting Chalcopyrites and bornites are present.
Chalcopyrites have a specific gravity of c4.1
In the first stoping tunnel targeting this high grade ore it could be 100 metres long x 15m x 30m high in total but not all at same time.
Volume is roughly = 45,000 cubic metres
Multiplied by a normal sg of rock = 45k x 3 = 135,000 ton
Multiply with an sg of 4.1 = 184,500 ton

If we say an average of 5g/t x 135,000 = 675,000 •/•31.1 = 21,705 gold ounces

Or 5g/t x 184,500 = 922,500 •/• 31.1 = 29,662 ounces

Therefore there is an increase of 50,000ton of ore if there’s Chalcopyrites insitu for the same volume

There’s around 7,400 ton of copper using the 4.1 sg which is 2,000 ton more than a 3sg.

Revenues for 25% ownership :-
Gold $13.5m
Copper $16.6m

= c$30m revenue less costs

That’s $300,000 per metre in the first stope

Can you see now why I think the AISC will be low in this first zone?

To my lovely friends Claireabella and IPad I wish you all the happiness for the big day :))

Hi avo
The share price might be higher at the moment than Ggp but as others have said it’s not worth more.
They have licences that need a lot of expense to prove anything.
The sp at the moment is rising on a huge amount of blindness unresearched ramping .

Ggp has a long way upwards with its share price due to the quality of its assets.
The other company could go either way depending on what they find, but it certainly won’t find another Havieron with those assets.

Hi Malva
I didn’t mean you were criticising me personally, but the accuracy of my calculations.
1,000 is a simplistic number easy to use and understand.
I was trying to show the relevant value of the main gold quantity we have and what we might get .
25-30% of 80m, 100m or 120m makes a small difference in the scheme of things.
The 2m ton mining option came and went with the PFS, it’s dead in the water.
The 3m ton option is what the Ggp MRE is relevant to and also relevant to the Feasibility Study.

The 5% sale I feel takes away the huge profits from the initial production where as I’ve tried to explain before could be close to $100 AISC due to the very high grades in the first section.
Higher AISC figures occur where the weaker grades in the Sulphides occur.
The AISC will fluctuate during production
The $643 mentioned (which includes cu credits) is in the early production stages, I don’t believe it is an average .
A simplistic $1,000 is a lot easier to comprehend

I can’t win whatever I post.
I try to explain my posts as simply as I can and I know I am still over peoples heads.
For others I’m criticised for not being accurate enough.
It’s no point being too accurate because it complicates issues for others.
Feel free though to provide your own assessment that will be more accurate than mine

Thanks Strudel
That pic from earlier was good.
From memory that rectangular shape is the hyper saline ponds taking shape and that was programmed to finish about now. It looks though their not quite ready as the ditch around the waste rock looks full and will eventually drain into that pond.
The rock coming out is probably not saline at the moment. The first aquifer is slightly saline and was going to be used in the reverse osmosis procedure to provide clean water. As the Decline gets deeper the lower aquifer is hyper salinity and the ponds are definitely needed.
The salt in the waste rock dump leaches out into that ditch.
Presuming that rectangle will eventually go white as the water evaporates.
Ore from production will be placed in the Run of mill stockpile just to the north of that Waste rock mound in long thin mound by the top of the box cut, so if the satellite keeps going we will see it

Thanks Dip
Degree subject on it’s own
Some clever people out there coming up with this stuff

Pressed wrong button:))
Was going to say I’m really unsure what will happen.
For me the sooner it’s over the better, the uncertainty has spoiled this share with the immorally corrupt shorting going on because of it.
Hurry up and put us out of this miserable period and get on with the real value of the 25%

Trying to be realistic about this 5% business is hard.
The bulk of this valuation is the 2.4moz probable reserves.
If we take a modest $1,000 profit per ounce:-
2.4m x 1,000 = $2.4bn x5% = $120m on gold alone.
NCM are not likely going to pay $100m for the gold.

I do not know what percentage they would want to pay my guess would be around 25-30%

On top of this would be the copper, insitu price, future bulk mining %

I think $100m will be stretching it.
But I really

Hi Spades
My quantities at the moment realistically are around the 23moz figure based on my lower ovoid theory which is still slightly ahead of what’s been published and allows for a 6% dilution factor.
This allows for a depth of 1300m of ore.
The likelihood of it getting to 1900m of ore is a possibility and if it’s economical NCM will go for it.
Callum seemed to think 1300m is it’s limit but drills are still hitting very high grades lower down.
This extra 600m at my lower ovoid size would give a total of low 40s moz
The latest information seems to suggest a slightly larger size than I had catered for and could push it to 50m oz.

Initially though we should be looking at doubling the size of the MRE totals to 10-12moz and then doubling it again with the bulk mining.

The Valmin code takes into account probable reserves which are mineable
From Ggp MRE that’s a 50% increase from the PFS
So that’s 2.4m oz of gold and 109kt copper

It will also take into account the insitu inground resources quantities of
Indicated 0.7moz and 37kt copper
Inferred 2.4m Oz and 72kt copper
Both will have different values

Any additional quantities from December that will be included due to additional drilling , will be classed as resources not reserves, ie inground valuation

The SE crescent high grade has been enclosed in a hard boundary based on an NSR cut off Aus $80. Anything below that cut off is excluded.
The breccia between the crackle and cemented have a soft boundary with a +/- 10m zone with a cut off of Aus$50 excluding anything higher than that.

The Hard Boundaries around the sulphides is a fixed zone at a point in time from drilling information which is then interpolated by Ordinary Kriging.
Due to the complexity of the mineralisation the shells or cubes used for Kriging can’t be with any accuracy estimated from others around.
Each of these shells have been targeted by infill drilling, although some will still need some form of estimation due to the shear amount of shells involved.
As the shells have been drilled the hard boundaries have become fixed and zones increased or decreased as a result.
An obvious decrease can be seen in the Ggp MRE
https://greatlandgold.com/wp-content/uploads/2022/03/20220303_GGP_Hav_Resource_Reserve_Update-with-images.pdf
Page12 the sections here are comparing the 2 MRE’s
To the right of the Dyke at the bottom the red shading (MRE zone) has decreased upwards.
The obvious increase is to the left of the Dyke within the Western front.
The infill drilling stopped when there was enough confidence that the Hard boundaries were now fixed.

No breccia were included within these hard boundaries as their economic cut off failed to reach that of the sulphides.
However to be able to mine these sulphide zones some breccia will have to be removed in the process.
In the PFS this amounted to 0.6m tons.
In the Ggp MRE it amounted to 2.4m tons.
Difference due to an increase in the mining plans 2m tons to 3m tons

Breccia have soft boundaries between the different types this is due to the mineralisation not being so complex. The shells can be estimated with far more confidence without drilling.
For example drill 84 with it it’s 342m at 2g/t.
This has enabled the Eastern Breccia inferred resource estimate to be established by Kriging.

Inferred and Indicated are resources in the ground.
Some Indicated will be classed as probable due to being mineable these are now reserves.

Probable mineable reserves have risen from 1.6m Oz au to 2.4moz
Cu 73kt to 109kt
From the PFS to Ggp MRE

50% increase in mineable probable ore reserves can be valued in the Valmin code.

Insitu in the ground resources in Ggp MRE
Indicated 0.7moz and 37kt cu
Inferred 2.4moz and 72kt

Cj
No threats, just criticising and moaning all the time for pity’s sake change the tune

Cj you really don’t know what your talking about.

Sharky was the cause of H getting banned !

The VALMIN Code establishes standards of best practice for the technical assessment and valuation of mineral and petroleum assets and securities by geologists involved in the preparation of independent expert’s reports. AIG and the Minerals Council of Australia joined with AusIMM in developing a revised version of the code in 2005, the first major revision in 10 years.The Australian Institute of Geoscientists supports the VALMIN Code and endorses it as a statement of industry and professional best practice. The VALMIN Code is binding on members of AIG when preparing public independent expert reports as required by the Corporations Act covering mineral and petroleum assets and securities.

https://www.aig.org.au/about-aig/geoscience-news/valmin-code/

Hi Dip
Great stuff
I’ve seen videos on Kriging but will watch these after I’ve finished digging up buttercups.
Well and truly buttercupped :((

Some more notes to go with those 4 plans

“Around 30% of the Inferred resources in the Eastern Breccia are based on composites with a closest distance to the block of more than 30m and data from less than 4 holes, which GPL has used to define extrapolation.
These blocks are mainly on the edges of the domain as exhibited in the following plan views at 60m intervals of the extrapolated blocks colour coded by distance to nearest informing composite (interpolated blocks not shown for clarity), as well as the location of the informing composites (window +/-10m)”

If you can understand Geostatistical information then you will be able to understand the difference between NCM and Ggp MRE values.

On the Ggp MRE update the notes at the end reveal the way the drill information that the experts are using to form their models.

It’s like a new language, I find it hard to get my head around some of the phrases but from what I can make out the drilling density has nothing to do with the Ordinary Kriging methods used to form boundaries.
The SE crescent high grade has been enclosed in a hard boundary based on an NSR cut off Aus $80. Anything below that cut off is excluded.
The breccia between the crackle and cemented have a soft boundary with a +/- 10m zone with a cut off of Aus$50 excluding anything higher than that.

Ggp have used this to breccia Kriging form for the Eastern breccia MRE, but they have used a new technique of unfolding the domains and blocks which NCM haven’t used.

Just a snippet from those notes and you can see how difficult it is
“A geostatistical review using the data up to 2 December 2021 confirmed that the gold and copper grade distributions showed that the Breccia Zones are moderately diffusive in nature, and the Crescent Zone is relatively weakly diffusive in nature. Even though the Crescent Zone is weakly diffusive in nature, Ordinary Kriging (OK) is considered an appropriate estimator given the geological setting, geological observations from the logging data, geometry of the domain and its tenor relative to the likely operating cut-off grade. That review also broadly confirmed the validity of the variogram models and search neighbourhoods used by Newcrest for the Stage 1 PFS Model, although Greatland refined the parameters based on the more extensive data set and an improved approach to unfolding for the Crescent Zone.”
https://greatlandgold.com/wp-content/uploads/2022/03/20220303_GGP_Hav_Resource_Reserve_Update-with-images.pdf

Look at page 30, there are 4 plan views @ 60m intervals
930m depth of ore
990m
1050m
1110m
The feint blue line on each is the domain block a soft boundary.
Each shell is coloured to its distance from the composite block
All interpolated blocks in between have been excluded.
These have all been unfolded?

I still am trying to get my head around this so I don’t know how the rest of you are fairing.
There seems to be a lot of expert interpolations and techniques being used which no doubt the 2 companies will get different values.