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“I wouldn’t touch Scallywag with a barge pole. It’s already knocked the wind out of our sails once….”

That’s someone who doesn’t understand what exploration is all about

Hi Hydrogen
As far as I know the cover around Swan is around 50m hence the numerous air core holes drilled in the past.
The Swan target is a big area I would drill all 10 holes there, I feel we are close to something .
10,000m of holes would pepper it.
Finding something there as Shaun said in London could rewrite the Havieron joint venture .
Get some money then go and pepper Ernest Giles Meadows and prove up what Newmont found ie 5m oz + numerous 1m camps

Interesting research on planning transport movements from a SLOS mine using computer software.
https://www.diva-portal.org/smash/get/diva2:1011835/FULLTEXT01.pdf

Hi GRog
When have I said I’m selling.
Holding on for mining that’s me.
In a takeover scenario I wouldn’t want the company go for less than £1, I don’t want to sell at all and I don’t think Shaun does either.

Great post Panama:))

Hi dealts
The one for that position has to be JerryS his voice is deep and chairman like, I’ll just sit next to him nudging with my elbow:))

Hi Zoros
You posted
“ IF NCM make a bid it will have been meticulously calculated. They know what they are doing and won’t want to be embarrassed by rejections.”

I disagree they could have bought us out ages ago when the price was minuscule, everyday goes by this resource gets bigger than anyone could ever have imagine and the value is increasing rapidly.
At the moment all I can see is a lumbering lethiavan , stumbling from one problem to another.

My stance on the NCM conspiracies has been of scepticism but now I need a nurse cos I’ve realised they are holding too much back now, they are trying to stunt our share.
They might not be controlling the shorts but they’re certainly controlling the lack of information coming forward, which is not helping.
It’s a giant conglomerate stumbling into hole it’s dug for itself.
You can see this in the last results when looking at the 2 projects in Canada they’re nowhere near Havieron quality and longevity.
They could be stumbling along to take us out

If we go mining SD is likely to make this a multi billion dollar company many times what any t/o price will be.
I don’t know about you but I intend to sit tight, I’ve enjoyed this cycle of my investment life I would like it to continue.
I would like to enjoy spending as much of my kids inheritance as possible:))

Well our drilling season starting soon, SD said in London he was very keen to get drilling again.
Most obvious is Saddlereef the furthest advanced of our targets, Ggp are managing it so they should have the main say at the moment.
Emphasis on Scallywag was around Swan I’m expecting that to be a target again.
SD very keen to drill EB only 100m+ of cover so the cheaper RC drilling will probably be used.
The Newmont survey they left behind was around Meadows in the SW so drilling may be concentrating around there.
SD also mentioned drilling around Rudall let’s hope the permissions are in place. That’s a big target maybe 2km diameter. He also said about drilling Panorama this year.

The longer NCM take to put forward a bid will become more and more difficult and costlier

Will they actually get to the 5% .
I can’t honestly see it happening, think they might jump in with both feet and put a low ball offer in and make an almighty balls up of it.
Rio and others will join in and this is the reason NCM have been stalling, what will they kick off.
This talk has been going on for years about a take over.
SD broached the subject in London, the bidder will have to abide by AIM rules
They will still not what NCM want to pay and SD will make them pay

What would you say if after the t/o they announced further gold finds like at Meco the EB is twice the size they’d showed before the t/o.
You will feel short changed you’ve made a mistake.
That doesn’t include maybe finding 5-20moz at EG a distinct possibility.
Maybe a strike on Scallywag
So much value you could miss out on

Stop and think this time next year we should be very close to first production.
If the production plan is based on 3m tons per year the first will be a slow build up to that but if we achieve 2m tons in the first year the economics are staggering mainly due to the copper.
First production is where HAD005 was drilled the grades in that were staggering, first copper grade at the top 10.4% . An average grade would never hit that some but let’s break down the revenues.

Gold
2m tons @5g/t = 322,000 oz x $1,000 (after AISC) =$322m •/• 25% =$80.4m
Copper
2m tons @1% = 20,000 t x $9790(todays price) = $195.8m •/• 25% = $49m

Or 2m tons @5% = $244m

Possibly the grades for gold and copper May exceed these in that initial ore production.

Stop worrying about the 5% and the MRE2 whatever price it gets the real prize is going to start next year there’s hundreds of millions involved annually.
Greatland aren’t going to let this go cheap, the first 5 years are going to be outstanding from Havieron without anything else happening.
But what is cheap
I think a lot of resistance around the broker price of 25p
Blackrock bought some around 29p a lot of you are under water at 35p, I bought a few at 32p
I think weak hands will like 40p
Blackrock didn’t come here for 40p to make 10p profit so I still see big resistance at that.
Tymers will sell at 88p :))
Mickey selling £1.44 :))
A £1 will see a lot of new millionaires but I still feel that’s very cheap.

With all these great assets the chances of being taken over increases daily, I for one hope we will go mining.
Shaun seems to be eager to get mining, he hasn’t got enough shares yet for him to make much from a t/o.
NCM I feel are stuck between trying to get Ggp cheap upsetting other jv partners, future partners and their own shareholders.
Main thing here with Ggp is you lot how many will accept a low ball offer
I’m not going for anything less than £1, that would be sacrilege to what we have here, an absolute travesty to what the future holds.
Havieron is unique, a once in 2 generational find, a beautiful shaped ore body, massive, ginormous, World class ore body, Tier 1s keep on giving.

Cont’d
Panorama
A very large area containing 3 licences with 2 distinct type of targets
In the NW a 6.5km long gold anomaly following a river bed and fault line.
The bulk of the licence contains possibly a very large cobalt anomaly maybe the largest in Western Australia or Australia itself.
Ggp suggesting nickel is there as well ( cobalt is not normally found on it’s own)
Will be drilled in this years exploration programme according to SD

Bromus
A long licence running NW-SE in the SW of Western Australia close to the nickel area.
A few drills have been done by Ggp and further modelling has found the sources of surveys near to where the drills were deployed.
Mainly a Nickel/gold target with MMI survey readings of 2670ppm that is 0.267%
Infrastructure runs close to the southern end of the licence road, water, electric etc

Rudall and Canning
Rudall is a small licence to the SE of Havieron with one Bullseye target anomaly.
Underexplored needs surveying to see what’s there

Canning is way to the SE of Havieron but is in the same belt that runs from Port Headland to Musgrave mines and on to Olympic dam area.
Canning has 4 licences 2 of which contain Tabletop 1 and Tabletop 2 very exciting bullseye features , strong coincidence of the gravity and magnetic anomalies.
Historical reports by geoscientists suggest drilling of Tabletop 2 first down to at least 800-1000m.
If they’re big enough infrastructure will not be an issue.

A new licence to the west of Havieron and SE of Telfer has not had much success but Ggp seem to think the previous owners didn’t look deep enough.
One target is a bullseye feature similar in nature to Havieron.

Pascalle
A long NW trending licence with half a dozen targets Ggp are saying the targets need deeper investigation.
Pascalle itself is a bullseye feature with a fault running through it but not so deep.

A new licence has been applied for on the SE end of Pascalle on the continuation of the NW trend, looks like a long fold target

Havieron
An early stage mining development with Decline infrastructure progressing.
An ore body that keeps on expanding with increasing grades.
30% owned at the moment with negotiations ongoing for NCM to buy 5% from Ggp.
Potential tier 1 resource with an MRE due soon to upgrade the Indicated and Inferred Already announced.

Juri joint venture
Paterson Range East
Latest drill results on Goliath and Outermind both hit gold anomalies.
New models being formulated for future programmes.
New aero magnetic survey on the west side have found new targets to be drilled H1 2022 A9 and 11 together with Tama an exciting “supergene” target.

Blackhills
An exciting area where the nuggets were found in 2018
Saddlereef and Saddlereef South are promising targets. Firstly a reef like prospect similar in nature to Telfer and further south a dipping ore body about 250 wide 60 m thick by 2km long.
Over 250 historical drills on BH have had gold in their drilling logs.
Drilling in H1 2022 will focus on Parley North, A27 and a very long target to the south of Saddlereef South

Scallywag
A large licence 100% wholly owned by Greatland
Last years drilling of Kraken, Blackbeard and London hit gold and copper alteration and will help in vector studies of finding ore bodies.
This year’s exploration has centred around Swan in the North , Teach and Barbossa west, assay results still waiting.
Additional surveys have located Archieteutis to the north of Kraken.
The road between Telfer and Havieron is proposed to go through Scallywag, works to commence this year.
Environmental studies have been carried out on the proposed route.

Ernest Giles
A very long arching licence if compared to the M25 would go 2/3rds the way round.
An archway greenstone area renowned for its goldfields, much older than Havieron.
Suggested to have 2x 5m gold targets with numerous 1m camp style targets.
Relinquished 2 licences last year only to reapply for Wishbone and another one but not reapplied for Carnegie in the centre which reportedly had the nickel.
Ggp eager to start drilling again in this years drilling campaign.

Tasmania
Firetower
A licence with 5 areas of interest the best of which is Firetower itself a small bullseye feature with strong gold and copper readings near the surface open at depth.
Maybe containing 1m oz
Firetower west is a large underexplored area with gold and copper readings.
Star of the west in the north are historical workings in a forested area.
Firetower east has had a few drills picking up copper and zinc alteration, needs more exploration.
There’s another historical mine area in the NE.
Ggp working towards joint venturing this licence.

Warrantina
A long north to south series of historical mine workings
Ggp have concentrated their recent campaigns in the south exploring beneath historical workings picking up new targets deeper down.
Suggested to contain a 1m oz gold in total on the licence

Hi Hydro
I think you are confusing things a little for people to understand when you say 2 distinct pipes.
This is the way I see it.
There are multiple intrusions at Havieron from different weaknesses in the fault maybe 4-5km down.
They are all coming up the same pipe.
First intrusions I don’t believe broke the surface, the clasts within the breccia are bigger than later breccia and have not moved far from there original position.
Cooling of these early intrusions would have formed cracks for later intrusions to penetrate.
These are the weaker calcite alteration and crackle breccia.
The cemented and actinolite intrusions appear to be coming up from under the Eastern breccia position into the centre of the pipe within the earlier intrusions forming higher grades as each intrusion worked its way in. These also do not look as though they have penetrated the surface apart from a few zones.
The sulphide intrusion looks to becoming from the south end under the SE Deeps these have forced their way through earlier weaknesses caused by cracking and shrinkage while cooling.
The sulphide intrusion looks to have been hotter with more pressure exploding out at the surface, these have changed the constituency of the breccia’s drawing in minerals to the sulphides.

That’s just my theory on logical explanations , it’s a very complex geological structure and a bigger brain than mine will in time tell us exactly what’s happened.
In conclusion I believe it to be 1 pipe with multiple intrusions within it forming what I’ve been calling the top and lower ovoids

I’ve allowed for an average of 0.75g/t for the whole ore body
The Eastern Breccia looks as though it might raise this average so I included a figure for 1g/t for the whole so don’t add those 2 together

The slope of the Dyke towards the East at 1,400m depth from surface is possibly 300m.
There is an historical seismic survey line called the Moodoo which runs SW to NE running from Rio licence through ARV’s, then Havieron and back into ARV under Nimitz.
On this line there is a reflective image under Nimitz, with the depth of it , it is vaguely on the inclination of the Dyke.
This is roughly 3-4km down maybe the source could be 4-5km down similar to Telfer.

Below what we can see now I feel the ore body will start following the Dyke towards the source at be more at an incline.
Only conjecture on my part and there’s no sign of the northern end inclining to the east yet it’s still going out.
This is not an ore body you will be able to replicate as an investment with any other miner, it’s very unique.

Hi MH
If you look at that isometric drawing I pointed out you can see the Eastern Breccia is forming my lower ovoid assumptions.
The latest MRE drawings have increased the chances of my calculations becoming reality.
They still haven’t quite got to the size of my assumptions yet but they’re getting there not far away now.
For clarity those calculations are just for gold not other by products although some of the gold will come out of the copper concentrate.
At least 10% deductions must be allowed for the bismuth content effecting recovery factors.

Hi Hydro
The additional 600m depth is the unknown but could add a whopping 30-40m if the size remains similar but looks to be increasing.
This may not become known for decades yet !