Member Info for Bamps21

https://www.mining.com/copper-price-hits-all-time-high-on-fears-of-supply-crunches/

https://greatlandgold.com/wp-content/uploads/2022/03/20220303_GGP_Hav_Resource_Reserve_Update-with-images.pdf

Table on page 15

Best year is probably FY31 with approx $110m revenues using an average AISC of $843 which is probably going to be too high (from Hannams)

FY25
2,160,000 tons mill feed
Ggp gold revenues =$52m
Copper revenues = $31m

FY26
2,690,000 tons
Gold $61.5m
Copper $27.5m

FY27
Gold $62.75
Copper $31.5

Looks as though revenues will be $80-100m per year before tolling charges, taxes are taken into account.

This is only for this MRE, they said they are looking at increasing the tonnages.
That is before any bulk mining is taken into account

Hi Schlemiel
Bit late now for that.
The longer it takes the more costly it will be to take Ggp out.
It looks to me as though we are going mining, NCM will have to put up with us

The Red Chris recovery rates are much lower than Havieron 56% (from memory)

I don’t understand your question

Gold
From RNS for FY24
700,000ton
3.26g/t
= 73,376 oz
Less recovery 88% = 64,570
Today price $1970 oz
Less $843 AISC(reduces in following years)
Leaves $1127 revenues x 64,570 = $72.8m
Ggp 25% = $18.2m

Copper
From Ggp RNS
FY24
700,000 tons
@0.69% = 4,830 ton copper
Less recovery rate at 84% = 4,057 ton
Copper price used in forecast $4.15lb or $9,157 / ton x 4,057 = $37,151,000
Ggp 25% = $9.288m

Copper price today $4.90lb = $43.8m
Ggp 25% = $10.95

At $6/lb = $13,255 = $53.6m
Ggp 25% = $13.4

Nickel futures surged above the $26,400 per tonne level for the first time since May of 2011, as Western sanctions against Russia over its invasion of Ukraine sparked renewed concerns over the metal supply.
Along with prospects for loss of supply from the world's third-larges, robust demand from the stainless steel and battery and dwindling inventories lent further optimism to the metal bulls. Nickel stocks in LME-registered warehouses have dropped almost 70% since April last year to 83,328 tonnes

$27,582/t

Zinc also rising
“ Zinc futures skyrocketed to above $4,000 a tonne in the first trading week of March, a level not seen since May of 2007, on lingering concerns of further supply disruptions due to prolonged high energy prices. Mounting sanctions on Russia for invading Ukraine led to an international energy crunch, which, in turn, could spark additional supply disruptions of energy-intensive zinc if European smelters decide electricity prices are too high to keep smelters running.”

$4087/t

Cobalt also rising
$75,800

It’s started
“Copper surged to above $4.8 per pound in the first week of March, closing on the record high of $4.9 hit in May 2021 on concerns of supply disruptions due to war in Ukraine and low global stockpiles. Copper stocks held by LME, Shanghai Futures Exchange and Comex fell to just 200,000 tonnes in February, enough to cover only 3 days of global consumption. Suppliers are especially low in Europe and although Russia accounts only for 4% of global production Europe is the main export market. Adding to woes, the biggest producer Chile, recorded its lowest January output since 2011 with production sinking 15% compared to December and 7.5% from January 2021. On the other side, copper usage is surging, especially in developed countries, with increasing demand for electric vehicles and wind farms, solar panels, and the power grid.”

Copper $4.885 and still rising

Hi Mush
Looking forward to meeting you at last, it’s been a long time since the last one got cancelled.
Bamps :))

Hi Strudel
Growth is not necessarily outside the ovoid, the SE deeps are underneath and they’re growth.
I believe they are referring to areas outside the MRE to grow the resource estimate

Hi Strudel
Yes very interested what’s happening on the ground.
Eastern breccia drills are coming from the west not the south.
SE Deeps are coming from south of the explosive store , I know there are 4 pads on the track to the store they could be targeting the SE but would be long drills

Regarding the Eastern Breccia

“104 was being drilled after 83 and 84 were announced
103 and 105 assays reported in Jan 21.
Assays are still pending it’s taken a long time to drill and investigate.
This drill could make the half a million ounces seem tiny.
Crescent style mineralisation still to be announced, another intrusion event.
Luvly Jubbly :))

There’s a lot in that update but the effect of the infill drilling can be seen quite clearly on the sections.
https://greatlandgold.com/wp-content/uploads/2022/03/20220303_GGP_Hav_Resource_Reserve_Update-with-images.pdf
Page 9
The brown areas or breccia can quite clearly be seen to be changing to red or sulphides in the latest section as I’ve been explaining recently
Page 12
Shows the increase in the depth this lower portion is below the old indicated resource and is now in inferred, NCM I believe are going to put this into indicated , this is where the big blob I’ve been talking about is located. This will be as I’ve pointed out will come below the old mining plan level 4 into a new level 5
This level 5 can now be seen on page 16, a totally revised plan and section of the mining plan.
The sulphide crescent has been lengthened to 700m which was originally 550m so the Western and Northern fronts are longer.

They have average grades lower than the PFS MRE due to the added volume of lower sulphide grades and breccia this has reduced the metal content slightly.
Bismuth has been mentioned which effects the recovery factors and has an effect on the NSR cut offs, it also has effect on the price ranges used in Aueq values $1600au and $3.23 cu.

The Eastern breccia only 4 drills were used in this estimate (2 from October 2020) of which 70% of the area was estimated and 30% from visual and mechanical and assay reports.
High grade areas from drill 104 were not used.

This announcement is another small step to a massive Tier 1 mine instead of one big announcement in August.
I didn’t believe they would break with the protocol of the joint venture but they have big time

Hi TT
From page 3
Identifying Havieron like exploration targets in the same geological postcode as Telfer (Newcrest) and Winu (Rio Tinto)

Hmm yesterday rumours of new licence being applied for next to Winu, I can’t substantiate that but it’s in amongst Calibre in my opinion
https://www.riotinto.com/-/media/Content/Documents/Invest/Reserves-and-resources/2021/RT-Winu-reserves-resources-2021.pdf?rev=f5f9153801904622b652035860d015b4
Page 7 map south of the purple area

Hi TT
I’m trying hard to explain about the MRE and it is obvious it’s not sinking in.
Forget about the 90,000m of drilling that’s history, if people read published info they will find out it’s less than that.
My post this morning described what was coming in March update, forget anything else being including in the MRE2 it’s too late to be included by June.

As far as the Northern targets are concerned I was very disappointed that Havieron North did not have what we were expecting although I believe there is a target there I think they missed it.
Havieron north should have had the same geology as Artemis found with the cores similar to HAD5.
The cores in their farthest west drill on Apollo have totally different geological structures and will be the same as Zipa.
I’m nervous about these I’m not going to speculate,
Goldworm was quite excited by them though when I met him.
Remember this geology runs from Havieron northwest through Zipa and Apollo then on through into Scallywag, big volumes involved here if it comes good.

Hi Mr Ecm
I am disappointed but I was expecting it which is why I kept away from the conversation as much as possible

Hi mr ECM
They’re dealing with a big entity here, they stick to a strict calendar timetable, they can’t look after a small joint venture companies interest why should they.
You may have invested in a small company but you are under big boys rules and ways of working.

This is why I’m saying the MRE2 infill drilling isn’t complete yet.
From the plan :-
https://greatlandgold.com/wp-content/uploads/2022/01/220128-GGP-Havieron-Exploration-Update-vF.pdf
Page 12
Look for the blue lines - assays pending
HAD85W5 is a wedge drill deviating from 85W4 it’s targeting the increasing sulphides of the SE crescent which is in the mining zone 4th level shown on page 15. This continues down underneath the MRE and mining zones infilling a huge sulphide blob which is likely to be included maybe inferred in MRE2.

HAD133W7 is another wedge drill can be seen leaving 133W6 on page 13 this is targeting the zone beneath the one I described for 85W5 and can just be seen on page 15 right at the bottom obscured by the 133W6 label

HAD89W4
From the east above the crescent targeting the northern pod and on out testing the ground outside of the ore body.

HAD145 a very long drill targeting the north of the crescent deep down next to the Dyke

HAD133W6 the end of this hole is still in assay shown on page 15 beyond the last indicated red intercept.

HAD89W4 the end of this hole is still in assay a very deep hole below the MRE

HAD104 has 2 intercepts still in assays targeting the Eastern breccia

You can see now why I’m saying there will be more coming in the March drilling results to infill the MRE and why I’m saying the MRE wasn’t ready.