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Hi Jiffy
I refer you back to my post just after the Jan results
“ I’m going to try to explain in 3D last weeks results, I was going to do it on a podcast but Bottle had tech issues.
Here goes
Imagine standing in the centre of the ovoid on top of the cover sequence in the year 2050.
We are approximately 1,000m below ground level, looking up the blue sky is just a small oval shape, it’s dark down here and hot with little light.
We are now vertically beneath the western edge of the Dyke , looking towards the east the Dyke is some 200m from us because it is sloping away from us.
The sides of the ore body are coming inwards to meet the Dyke at our level, not being evident at the top.
Looking down we’re at the edge of a 400m shear cliff where the cover has dropped passed the top of the Dyke forming the cliff. You can see through the darkness the Dyke continues to slope away from us.
To the right there is another shear cliff this has been caused by the SE deeps sloping off to the South at these levels.
Turning around to face Northwestwards , imagine the northern corridor and pods are still there. They start about 50 m from us rising up in a huge mound stretching across the ovoid to about 100m high. From there they rise up to the underside of the cover level with the northern pod about halfway up on the left as a great blob of sulphides holding about a 1m oz.
Now looking up to the north to the left of the Dyke on the sides of the ore you can see where the latest drills came through all around 100m down from the top of the ore body through the sides
We have Had 150 to the left and then 149. Underneath the slope of the Dyke you can see HAD61 and then lower down to the right 86W4. On the plan these last 2 look to enter from the other side of the Dyke but that’s an illusion due to the slope of the Dyke.
All these drills are heading towards us then out into the SE Had 149and W2 go out of the ore body at this level over 100m testing the ground for the mining fronts.
HAD 86 W4 goes over 200m outside the ore body but 800m below where we are standing.
This zone we standing in is all crackle breccia a weak grade zone picked up during HAD2 and 4 and this wraps around the northern corridor. It’s this area where we are standing that these drills have been infilling on their way down to the SE crescent to infill that zone.
A few of the other drills announced have been infilling zones within the Northern corridor.
Where we are standing is the area that will increase the inferred tonnage in the MRE2.
The N corridor - the small section that was included in the first MRE will change from inferred to indicated the rest will go to inferred.”

I’m expecting a few more in the next results and that will be the cut off

https://bmo.qumucloud.com/view/2022-gmm-newcrest-mining
No questions on Havieron

Worldquant short 23rd Feb

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Yeah right

Miami is 5 hours behind UK time

Hi Peter
Sent you an email

NEW YORK and TORONTO, Feb. 22, 2022 /PRNewswire/ - BMO Capital Markets will host its 31st Global Metals & Mining Conference from February 28 to March 2, 2022 in Hollywood, Florida.

Sandeep doing a presentation

As Hydro just mentioned Shaun’s interview last October Shaun stated “they could issue an MRE on their own but are restrained from doing so”

First I’ve seen in that presentation Telfer in 2017 was classed as a Tier 2.
Today they’ve joined Telfer/Havieron as a Tier 2.
August hopefully should upgrade both back to Tier 1 as a joint entity
Slide 8

Slide 7
Cadi, Lihir ,Red Chris and Telfer/Havieron
All 4 projects IRR increased to 22%
Using $1750 ounce and $4.15 lb copper and $0.73 exchange rate

Getting closer to Shaun’s 27% :))

Hi Hydrogen
Yes I agree they can issue their own MRE but with protocol that won’t happen.
We don’t know the reason for the delay but as I summized they weren’t ready with drill results still coming in.
NCM have made themselves look bad managers though the way they have handled the situation

Hi Zoros
NCM results to end of June will be reported on the 19th Aug

The drilling cut off will probably be in this coming results night mid March and not next July.
They need time to update these figures.

Hi Peter
As manager of Havieron it will be down to NCM to issue it

Regarding the drilling which I tried to explain earlier, there are a few infill drills still not reported but most of the present drilling upto June22 will NOT be in the MRE2. The cut off maybe around the mid March time of the results making up the MRE.

In my opinion August will be the time Havieron is officially classed as a Tier 1 mine and not as presently described as a Tier 2 asset

NCM are no different to other big concerns, they have key dates and they stick to it.
They are different to others in that they give out 6 weekly drilling exploration updates.

I tried to find Rio’s update on Winu last week it took me ages to find it.

These firms hold their news close to their chests and I’m afraid it will probably get more difficult to obtain news from NCM apart from at their key dates.

All in all though that was bad management the way they treated Shaun

People are getting things wrong here
The FS is as stated in the Dec quarter and is not 6 months behind.
I’m expecting a few more drill assays for the infill drilling in the next update, most of the 90,000 m of drills are outside the MRE and won’t effect the date, namely the Eastern Breccia and SE deeps. Remember each one of these drills are around 2,000m
Also includes drilling Zipa and Mico

19th August for annual results - MRE

I did try to tell you the drill results were still coming in and it wasn’t ready .
Oh no 6 more months of MRE posts :((

My thoughts on the decline progress.
I posted here before the Decline started that working through a layer of rock with a clay content around 10% I believe would cause issues slowing up progress, which has happened. From experience I was convinced they would line the entrance with either curved tin sheets or precast concrete segments, after all it may be there for 40 years.
From NCM experience they decided to proceed with rock bolts.
Was this a mistake, well I think it was in hindsight but would have been difficult to change the route which they have if they had lined it.
The route was changed as the clay content rock starts a little way into the Decline, the new route follows this contour and goes underneath it when the spiral starts.
This doesn’t alleviate the soft weak rock they are progressing through, to alleviate this problem they are injecting resin into the surrounding rock to hold the bolts.
This is a slow costly exercise.

On the old design it looked as though the hard rock structure would begin at around 350m Decline length.
Should be slightly shorter with the new route.
As the Decline progresses into harder rock, this strata will progressively get higher up the walls meaning less resin is needed . With eventually just the roof will need resin then fade out.

Working through the aquifer level the heavy trucks are continually squeezing moisture out of the layer forming ruts which is why a grader is required to continually flatten the surface adding to the slow progress.

With Byrnecut stating originally that 3 roadheaders will be needed for the exploration Decline, only 1 is needed at the moment.
At some point NCM will want to start the mining phase Decline works in conjunction with the exploration Decline and bring in these additional jumbo drillers.
Looking at the mining exploration Decline that point looks to be after the first spiral for one more jumbo and room for another one after the 4th spiral.
With progress needing to complete on time as Shaun has stated “ on budget for costs and time” the suggested by Byrnecut of a Roadheader machine to be brought in will have a dramatic effect on progress.
Tall order to finish by October so I’m expecting Byrnecut to have a change to their contract for a mine Decline with extra works and be complete by the Summer 2023.
Rapid progress required though in my opinion!

https://wcsecure.weblink.com.au/pdf/ARV/02492772.pdf
Sale of Munni Munni

https://www.newcrest.com/sites/default/files/2022-02/220228_Newcrest%20receives%20final%20approval%20for%20Pretivm%20Acquisition%20-%20Market%20Release.pdf

It doesn’t seem right at the moment to talk about shares and making money. I’m glad my investment is in Australia and not Russia with them threatening to take over British companies, investment in Russia will be a no no for years to come.
I feel for those Ukrainian people having missiles and tanks around their houses and nowhere to go.

I had a few things in my thoughts about Ggp but that can wait for a bit.
Stop the War!

Hi Sandgrounded I like Sharpe too.
The skim on the tea is aluminium out of the tea plant change your brand