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Hi pj

Rotherby email

Ggpmidsmeets@gmail.com

These underground drilling results at Telfer are just staggering the amount of high grade ores they are finding and that phrase we are not used to “ will be passed on to the operations team”.

They are drilling, finding, modelling and mining. There’s no let up. The blue zones shown in the last 2 quarters look now to be paste filling/ back filling. The pace of exploration has to accelerate and they’re bringing in another rig to do just that. It’s astonishing what’s happening.

Twelve months ago before we had Telfer the SRK report quoted 12 months for the underground mine, well it’s still going with even higher grades and not fully drilled the ESC which keeps on growing. When this starts it will take the pressure off the other zones. Tarkin looks to be the next growth zone prior to the WDD starting.

The next meeting is in the Henbury Arms in Bristol on the 12th November from 6:00 to eat presentation from 7:30.

The venue is fully booked please do not turn up on speck I don’t think we will be able to fit you in. Let Rotherby know if you can’t make it to give someone else a seat.

I am just astonished at the enthusiasm for these meets.

Sheffield is a bigger venue on Saturday 29th November at the Waverley same as last time. The last I heard there were more spaces but was filling fast.

The newcomers to Stroud were very pleased they made the effort. We had around 20 regulars that couldn’t make that meet, if you haven’t registered with either Rotherby or Sureasblazes I doubt you will get a seat at future meetings.

Good luck all. Exciting times for Greatland 🙂

“At the original 2.8 Mtpa plan, that equates to about 10–11 years of mine life. At 4.2 Mtpa, the same inventory would last roughly 7 years.”

That is just not a feasible timeline, the 2.8mt doesn’t take into account the link zone and deeper Eastern breccia, the 4.2mt does.

It will take years for the infrastructure to get to that level which is where the crusher needs to be.

12 year mine life for Havieron what happened to the other 8 years 🤷‍♂️

20 years years mine life for a starter mine what about the rest of it, 55mt what about the 900mt or so 🤣

The hoist is definitely under utilised.

The M reefs and the ESC use the decline for their ore as they’re too high up for the hoist.

The A reefs, Kylo, Tarkin etc use the hoist.

Last 2 quarters have seen 270kt and 290k coming from the underground at around 1.6g/t so about 30koz.

To prevent the next years reliance on low grade stockpiles more needs to keep coming out, so 310kt and330kt for next 2 quarters.

I’ve heard 5g/t from around the ESC is coming out seems high to me, if it was 3g/t would be more realistic according to drill logs.

640kt for next 2 quarters at 3 g/t would be around 60,000oz, that would only leave 20kt to come from other sources ie a bit from stage 7, a bit from leach pads and some from stage 2 to achieve a consistent rate of 80koz. To relieve the pressure on using low grade other than blending for head grades.

I’ve heard there’s 8g/t coming out of the Rey I don’t know how accurate that could be but would certainly take the pressure off everything.

If they achieve more the market will expect that new figure best to keep to 80k until sustainable ore is being achieved.

Hi Poniexpress you were missed last night.

You are right that it looks another Havieron well to be more precise half a Havieron cut in half with the crescent lying horizontal.

I can see that not many people understand the significance of this announcement.

In the February announcement , it was stated that the eastern limb has weak anomalous results and the mineralisation doesn’t go to the east.

Well it’s quite obvious that they missed this high grade.

I believe this is where the intrusion comes through and goes up to the Leaderhill pit and on into the Main dome north end. Very significant if my thoughts are real because above and below it will be mineralised.

Could be drilling the WDD for years to come.

Well the Rey result substantiated one of the rumours from a few weeks ago

3m @ 13g/t and 6.5% copper

Absolutely stunning zone 🙂

I would like to thank everyone for turning out tonight, was wonderful to see so many people and the look when I finished after 1.5 hours of wanting more was quite something special. We had to find more chairs would have been difficult to fit anymore in that room. We raised £100 for the MacMillan charity again that’s wonderful. Thanks everyone 🙂

Stroud meeting tonight from 6:00 for a meal and my presentation from 7:30 ish.

Fromebridge Mill pub off the A38 roundabout close to J13 of the M5.

No drill results yet but I wasn’t expecting them and I have long list of slides to run through anyway. As always I’ve plenty to say, any newbies to our meet tonight, look for the blue cap 🙂

Have a safe journey on the way to Stroud. 👍

Alcoa have announced US and Aus support for a Gallium refinery in Western Australia

Gallium is more likely to be in the zinc ores in O’Callaghans these are sphalerites

Price is $1200/kg this reflects the low tonnage recoverable.

Would be recoverable from the zinc concentrate, this is the issue “would it be sent to China “ for processing

Not a good day for miners and Ggp but 3 weeks into quarter 2 and still earning humungous wedge of cash at even higher prices.

Use the drop to your advantage the quarterlies will be here in just over a week and even closer to the FS release.

Drill results are imminent likely to include 75,000m at Telfer and possibly 5-10,000m on exploration targets. These are huge numbers surely there must be good news in there 🤞

Telfer drilling is just going to increase the resources wherever they’re drilling, this will uplift the resource MRE in March. Where they’re drilling now are not necessarily in the last MRE, a big boost there. Big Tree and Ironclad are also likely to be included, the first one looks really exciting.

So much to look forward to 🙂

Havieron is a unique orebody you are not likely to come across another one like it and you’ve invested in it right at the start. To witness the first Ore from a major mine is just awesome.

Matml has posted figures this morning of the grades for the reserve and resource. These are average figures for the full depth of the sulphides. First Ore is being mined where Had005 drill went through, it’s still our second highest gram / metre intercept. That must tell you something that the ore coming out will be at a higher grade than the average.

How they deal with this at the plant I’m unsure at this present time to get a consistent Head grade may be difficult if the grades are super high. I would expect to see 5+g/t and 3% copper.

It will soon tail off back towards the average but not until a great deal of ore has come out.

The stoping layout doesn’t allow for a constant flow from one area, with intermittent stopes they will be jumping from one mining front to another.

I’m expecting a primary crusher at surface to start with. This will need a stockpile before this starts and then a bigger stockpile of crushed ore prior to transport . Before the transport contract starts there needs to be enough ore for that to be a continuous operation. The ore will be tested in the pile to make sure that a blended grade will be going to Telfer within reason.

It will be stockpiled again waiting for enough ore to keep a train going for a certain length of time.

First half of 2028 is mentioned as first Ore but at what stockpile stage that is I wouldn’t know. We need the FS for details.

Really looking forward to Tuesday night meeting at Stroud another full house.

Bristol meeting is coming up fast on the 12th November it’s a new event and practically full. That’s a fantastic response thank you.

Sheffield is a few weeks away on the 29th November it’s a Saturday lunchtime meeting. The carvery was good last time, I ate too much wanted to go to sleep but had to stand up and talk 🤣. It’s filling fast , I hope there’s more space around the screen this time it was a bit congested, with me waving my stick around. 🤣

Before the Telfer anticlines were formed sedimentary layers of sandstone and siltstones were being laid in a huge basin. Continental drift or movement to the NE squashed these basin layers to form ridges or anticline, connected at the bottom to form synclines. There are numerous of these reefs all with a different geological make up. The ground movement would have created many fractures and fault lines , some of these running through Telfer along the ridges of the anticline.

Then between 650m years ago and 600m the continental drift caused huge underground heating and lots of intrusions occurred upwards. Four of these intrusions are located in the mine areas, 2 of which are in the West Dome pit 9 and 10, either side of the saddle. These 2 intrusions look as though they have gone through the West Dome Deeps along with a third one that came up into the Leaderhill pit NE of pit 9. This LH intrusion was the main feed into the north end of the main pit into the main MVR reef.

Due to the different geological make up of each reef and different minerals coming up in the intrusions each reef has different mineralisation and gradings.

The E reefs were/are at the top and then the MVR reef which were the 2 main sources at Telfer of gold and copper.

Newcrest did some comprehensive studies of the Main and West Domes between 2016 and 2019. In the West Dome pit the study concluded there was potential to expand the pits and the same for the north end of the Main Dome but were deemed uneconomic at that time.

Greatland’s recent study has started to include these findings and are the basis of recent drilling to firm this up and new higher gold prices have now deemed these areas economic.

The Main Dome pit has not seen any involvement by Ggp except they are looking at a cutback to the east and south areas. The north end where NCM did their survey has not been mentioned but this is where the Leaderhill intrusion entered the MVR.

The Main Dome still has vast potential bearing in mind Ggp have only owned Telfer for 10 months there’s still a lot to go at.

Between the West Dome Deeps and the underside of the pit is where all the reefs are. Ggp haven’t reported anything here yet. This anticline is sharper than the Main Dome anticline which has a much broader rounded shape easier to trap fluids in a longer wider area than the West Dome.

The potential for more at Telfer is very real .

Hi pj

Havieron’s resource is indeed 7moz gold but that includes the inferred which doesn’t convert to reserves.

The 5.6moz in the MRE is both mines and includes measured and indicated.

Havieron conversion is 86% we haven’t been given a number for Telfer yet but they say in reserves MRE that historically the conversion factor at Telfer is very high. With most of the resource at Havieron I used the 86% for both so of course it will be slightly lower. As time progresses Telfer may end up with more resources than Havieron as it will take time for underground drilling to build up the resource .

Hi pj

It doesn’t look as though the mineralisation is connected but the reef geological strata is the same. There are 2 anticlines with separate intrusions trapping the mineralised fluids.

Telfer MRE based on a gold price of A$3,450/oz (West Dome Open Pit and Stockpiles) and A$3,150/oz (Main Dome Underground), relative to current spot gold price of approximately A$4,700/oz

This came from the March MRE.

That figure $3450 is the West Dome pit shell for that time shown on most of those sections.

I think Newcrest were using US$1250.

By the June quarter they’ve expanded the pit shell to $4500.

There’s a great possibility at these prices it could expand further another $1000 to $5500

It going to be a massive pit.

Only 712koz in the reserve MRE at Telfer.

I would say tongue in cheek that’s probably gone.

5.6moz in the resource MRE for Havieron and Telfer.

They are expecting a high conversion factor for Telfer and H is 86%

5.6 x 86% is 4.816moz reserve

May be slightly lower due to some being mined between March and now.