Member Info for Bamps21

Hi Jiffy
My remarks on what to expect from the Red Chris update would be about the format.
Of course they are 2 different types of ore bodies.
Red Chris is a copper porphyry it’s mineralisation is mainly Chalcopyrites and Bornites.
Chalcopyrites = Cu Fe S2
Copper, iron sulphides
The gold comes out of the sulphides- arsenoids, telluroids and others
The gold and silver are found in the copper concentrate and found in smaller quantities, the processes lose quite a lot is the reason behind 61-75% range of recovery.
Bornite Cu5 Fe S4
That 5 parts copper 1 iron 2 sulphides
Or 65% copper 12% iron 23% sulphides
So less sulphides = less gold
But loads copper

Havieron will make gold and silver Dore
Then go on to make copper concentrate which again will have gold and silver within it
Havieron
Crackle breccia contain some gold amounts drawn in by heat etc from the surrounding country rock.
Cement breccia same as crackle but more drawn in plus quartz veining forming in the cracks containing gold.
Sulphides as explained above.

There are similarities between the 2 mines but different processes
The format for the MRE will be the same
Lihir is next to come then Havieron and as I said maybe sooner than later

You better get your head round this Red Chris update this is what’s coming to Havieron for the SE crescent.
It may come sooner than we think :))

Red Chris
Transport and refining costs included in NSR of £7.29/t

Just been getting head round recovery grades.
No Dore at Red Chris.
Open pit 79% copper
Bulk mine 81-85%

Open pit 51% gold
Bulk mine 61-75%

Mercury and Antimony deleterious minerals but fall below debit levels at processors

Copper recovery from copper concentrate is 28% which is higher than expected.
That means nearly 3 ton copper concentrate to make 1 ton refined copper normally 4 ton / 1 ton refined copper

Hi Lenz
Yeah sounds like me alright:))

Whose doing the infrastructure contract? The roads and box cut is it the Mc…. firm can’t remember.
The roads and box cut will get churned up a machine will be needed to keep going around keeping it flat without ruts

Byrnecut
Still only 1 truck, 1 loader, 1 jumbo, 1 x 20 t exc.

No roadheader yet

Hi silverhorse
No I don’t agree, I won’t make predictions what’s the point they’re always wrong .

The only prediction I have is this thing will keep on growing and a week on Wednesday it will grow a bit more.

Sandeep answering questions Aug 2020

Gerard Bond

He asked whether - is the market underestimating the value of Havieron and its economics enabled by block cave mining?

Sandeep Biswas

We've - I mean that's a tough one, and I wouldn't like to comment when they're under or overestimating. But what I will say is that - and you've seen in the drill results, and we continue to be excited by the potential of it because, not just because of the high-grade crescent zone that we've talked about, and that's starting to take some good shape and is open to depth, and we're now drilling deeper down to see how deep and continuous it goes.

But what - and I've reported on this before. What has surprised us is that the breccia material that the crescent zone sits in between, well, that is mineralized quite extensively in there, determining how extensive that is, which really opens up the possibility of - in addition to any high-grade mining that you do of the crescent zone, does this also transform into a bulk mining option further in the future.

And it's - and that has the potential to change the way we look at Havieron where we initially thought it was going to be just a high-grade mine with open stoping or maybe even some sub-level type gaping into a much bigger block caving scenario. But yeah, that's all to be determined. It's all conceptual right now. But as we do more and more drilling, if it continues at the rate it's going, it's looking very good.''

It’s now Nov 21
What can you say about his views back then.
They still haven’t found the extent.
It’s still going to be a high grade mine.
They are still drilling like there’s no tomorrow.
They are still drilling deeper.
The breccia grades are getting stronger.
The breccia volumes are getting larger.
They’ve found the Eastern breccia.
They’ve found the SE Deeps

Questions are the same
How big is this thing?
What’s at the North end?
What’s in the South end?
How deep does it go?
Is this a bulk mining operation?
Will the Decline be big enough?
How will it be transported?

November 22
Questions are still the same:-

How big is this thing?

Tier 1’s keep on giving:))

I suspect the reason the sp is subdued is mainly down to the issue of the definitive Feasibility Study.
The issue of the PFS suggests that it will become a mine but it’s not definite at this point in time until the DFS is issued.
The progress and rhetoric from both jv partners is that it will be a mine, but the Investment Decision is still not 100% certain.
As Shaun says it’s the worst kept secret about being a mine

I’ve had to stop and ask myself why I’m still invested.
Another look at Hannams report
From the PFS
The mining plan indicates 2million tons per annum to be extracted based on 18m ton resources.
NB! Based on figures from last February which are now way out of date but enough to gain government approvals.
The Full Feasibility Study when issued will comprise a Mining Plan of 3m ton per annum to be extracted based on 28m ton resources .

This is only for the SE crescent and will not be the final FS by any means.

The 3m ton pa is possibly the maximum the Decline can handle as Shaun said recently.

Hannams total figures are for 415m tons including the bulk mining

28m is to be the basis of the FS is only 6.75% of the combined ore to be extracted.

There’s a big BUT - my calculations are around 900m ton of ore that’s only 3% for the 28m

14p agh with a 97% tonnage increase due to come this is way underpriced

Havieron:-
A multi speed development of a major mine, a joint venture with a global mining company. A leading expert in underground bulk caving.
Gold resources could range eventually to between 12-28m oz plus major copper resources and also large credits from other minerals reducing AISC costs.
PFS for a small % of the SE crescent , a major milestone.
3 new targets surrounding the Havieron ore body are being drilled
8-9 drills still working 24/7 to define the extent of the ore body
The Decline a few weeks ago reached 211m progress is accelerating.

Juri jv:-
Paterson Range East:-
Multiple gold / copper targets 12 known at present, initial drilling results have found gold intercepts at Goliath and Outamind but not classed as grade 1.
Los Diablos results but not classed as Tier 1.
Tama and Tara due in next round of drilling. Tama is a supergene target where minerals leach from a rock and form a rich layer lower down

Blackhills:-
At least 6 targets including Saddlereef (A29) 1400m long gold target one end poking out of the ground suitable for open pit.
Additional gold intercept found below existing intercepts could be another reef zone.
A Telfer lookalike target hopefully.
Gold, copper and silver target.
Saddlereef south target added
Also Parlay a bullseye feature on top of a main fault line. Now shown as 2 targets Parlay and Parlay North.
Waiting for results of Parlay and A29 drilling,

Panorama:-
A very long Paleo-placer goldfield in the 2 northern licences. Gold rock chip samples over a strike length of 6.1km following 2 fault lines
The southern licence contains historical cobalt samples over a very large area
SD stated has stated they will be progressing this next year.

Scallywag 100% owned:-
At least 12 known targets the majority of which are sat near fault lines.
Drilling of Swan and more geotechnical surveys completed and Barbossa west drilled waiting for results

Rudall :- 100% owned
Bullseye feature under explored , geochemical surveys were due this drilling campaign

Ernest Giles:- 100%
2 x 5m oz targets identified plus numerous 1m+ camps of gold deposits
Large licence which lapsed has been re acquired with an additional joining licence.
The length of Ernest Giles compares to around 2/3rds the length of the M25.

Bromus 100%:-
A mainly nickel discovery underexplored with some gold, very close to infrastructure

Warrentina 100%:-
A 10km north to south licence with 4 goldfields and existing mines.
1m+ gold ounces identified
Ready to be divested.

Firetower:- 100% owned
5 exploration zones
1m+ gold ounces identified
another 1m possible
plus zinc
Possible sale/ joint venture

Canning
3 Licences applied for and 100% owned Taunton licence
Tabletop 1&2 very exciting targets

Pascalle 100% underexplored licence between Telfer and Havieron

They found some Paramelitidae on the track out of Havieron
https://dbpedia.org/page/Austrogammarus_australis
There’s a lot of different sub species of these not sure which particular one it is , either species 28 or 29

All good fun there’s a bit of life in the desert after all

Using Hannams figures revenues for:-
2024 are $20m pa Ggp 30%
2025 are $85m pa
2026 are $102.5m pa

That’s using $1850 gold $8500 copper
That’s on a 3m t scenario where the average grades are 3.57g/t aueq
2024 500,000 ton
2025 1,600,000 ton
2026 3,000,000 ton

This is still a very small proportion of the SE crescent better grades have been found since Feb cut off date for the PFS.

Hannams total ore extraction only totals 415m tons.
My estimate is still around the 900m mark.
Hannams are saying throughput at Telfer of 20m tons pa for the 415m , either Telfer will have to expand for the 900m or the life of mine will expand another 20-30years
That’s how big this thing is :))

Hi MFU
I worked out last night on the same scenario but with the prices as Hannams $1850 gold and $8,500 copper and it came to $242m pa
It went with all the other posts

That’s what Ggp are telling us 3 years to pay back the cost of the SE crescent SLOS operation.
After that funding for the massive bulk caving operation will be from revenues of the SLOS.
If forecasts of gold and copper prices materialise by 2025 payback will be a lot shorter.
By 2025 gold has forecasts of $2.500-$3.000
Copper has analysts predicting $20,000

Hannams forecast combined production :-
2030-34
Gold 689,000oz @2,500 $1063AISC
Copper 29,300t @ $20,000
Total revenues would =$486m per annum

Rising gold/copper prices have dramatic effects on revenues for Havieron

For Mr BiggL

For simplicity
1 gram/ ton
Therefore 31grammes / 31 ton
31grammes = 1oz
1oz = $643 AISC
Therefore
$643 = 31 ton = $20.74/ ton + tolling and transport

This is for SLOS, this involves excavation of tunnels, drilling, blasting, clearing and expensive back filling with imported paste.

Bulk caving - the Decline is already half way down, the initial costs for total mining was $1.6bn but a lot of that has been used to get to half way.
A lot of tunnels and blasting to be done initially but after that gravity is used so therefore finishing costs.

50% reduction is probable so AISC $300 a possibility.
Looking at the grades increasing in the Northern corridor 0.75 g/t is a distinct possibility
https://www.newcrest.com/sites/default/files/2021-10/211012_Havieron%20PFS%20Stage%201%20–%20Market%20release%20.pdf
Page 16
Northern breccia
Drill 047 309m @ 0.99g/t
Drill 83W4 156.6m @ 1.1g/t
Drill 101 147.2 @ 1.1g/t & 92.5m @ 2.9g/t
+ loads more

The best grades will be in the early stages possibly 1g/t
So extraction costs will be around $10 per ton
0.2g/t will be in the latter years of the caving maybe $50 per ton

Transport and tolling charges on top c$40/t

Hi Tom
Think the Pantomime season has started early with a lot of new recent posters spoiling the Board.
They have brought nothing to this board but insults and abusive language and misleading comments about the share price

Hi EMC
If you believe a share will make you a million then buying at 14.5 or 30 p will make no difference in the long run.
If you believe the assets will be enormous then the share price will follow in time.
I never mention what my target price is cos it keeps growing but I will let you into a secret it’s higher than Mickey’s :))
Croda is my best share buying in at £1.40 , I was going to buy more at £10 but thought it was too high today’s price £101 gulp, I should have thrown the kitchen sink at it

Hi WF
I can see you are vexed on this issue, however I can’t really see what the problem is.
Does it really matter whether you buy some now, tomorrow or in the future.
Does it matter whether you buy in at 14.5,15,16,20,30 your holding could be over £ at some point if keep hold of them.
If you are trading or out for a quick return then maybe it matters I don’t know I don’t do that.
Certainly cheaper for the company to go down the Primary Bid route.
If there was some doubt on the take up then a rights issue would have a better chance of reaching the people who would invest.
The route they took was the best way in this instance to get specific institutions on board and give some PI,employees and general public a chance to participate.

Hi Panama
Great posting this morning
This from the Primary Bid web site:-

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