Member Info for Bamps21

Investors need to start moving away from the exploration achievements and start focusing on how to get first ore out of the ground and how quickly.

If they start stoping the high grade zone this time next year the revenues are looking awesome.
Hannams are suggesting a max of 2m tons of ore per annum from the current Decline plans.
2m tons at about 5g/t = 321,000 oz pa
@$1950 per oz less $850 costs =$1,100
321,000 x 1100 = $353,000,000 pa
30% to Ggp =$106m pa or nearly $9m per month.

On top of that there's the copper
2m tons @0.6% = 12,000 tons @$10,000 =$120m x 30% =$36m to Ggp pa

That’s $12m per month.

The PFS is the key to unlock how they are going to achieve this.

If they decide to drive another Decline to the North Crescent I’m estimating another $9m pm due to the slightly lower grades.

This is going to be a slow build up process with sample loads going through all sorts of testing and processing and seeing what ore quantities from Telfer can be added.
Telfer’s ore is likely to run out in 2-3 years so Havieron ore will be needed to be sampled on it’s own initially.

The PFS is a huge step forward

This has been interesting web site about an additive manufacturer for use on extraction of different minerals
http://www.danafloat.com/uk/mineral_collectors/527e

“Danafloat 527 E offers good selectivity of mineral over pyrite and has been used in applications involving chalcopyrite, bornite, chalcocite and covellite copper ores. It has also found use in a mixed oxide-sulphide copper ore in conjunction with xanthate. Other applications are in the flotation of galena and Cu-activated sphalerite. Danafloat 527 E is a good collector for tetrahedrite and gold ores.

Danafloat 527 E is a very fast and quite powerful collector and it should be used in smaller quantities than xanthate.

Danafloat 527 E can be added undiluted, but a 1-10% emulsion is preferable.

The dosage of Danafloat 527 E varies with the type of ore, but is normally lower than for xanthates. Recommended dosage is between 10 and 50 grams per metric ton ore.

Danafloat 527 E is normally used in the pH range from 4 to 12. “

The sample ores will be containing chalcopyrites one of the main copper bearing ores.
The Telfer train will be set up with the aid of the sample ores from Havieron for the separation of gold/silver and form a copper concentrate.
This copper concentrate will be exported to a smelter/refiner somewhere in SE Asia.
It’s in the processor plant that copper and other base metals will be retrieved including cobalt.
Cobalt extraction is very complex as it associated with so many different ores and minerals. It’s found in chalcopyrites as siegenite and the flotation process to separate these 2 are complex.
https://www.911metallurgist.com/recover-cobalt-copper-sulfide-concentrates/

Although NCM haven’t mentioned cobalt extraction yet and the sample concentrates are sent to the processors I’m sure credits for cobalt will be coming back reducing the AISC costs considerably.
It’s not something that can be ignored I’ve calculated a rough estimate equivalent of 3m oz gold.
That’s nearly as much as are initial MRE valuation

The extraction methods from ore of precious and base metals is very complex and depends on the type of ore and the minerals within them.
https://www.sciencedirect.com/science/article/pii/B9780444530820000172

“ In spite of the lack of basic research on flotation of gold-bearing ores, the flotation technique is used not only for upgrading of low-grade gold ore for further treatment, but also for beneficiation and separation of difficult-to-treat gold ores. This chapter focuses on treatment methods for gold-bearing ores. Flotation is the best method for recovery of gold from base metal ores and gold-containing PGM (platinum group metal ores. Excluding gravity preconcentration, flotation remains the most cost-effective beneficiation method. During flotation of gold-bearing massive sulphide ores, the emphasis is generally placed on the production of base metal concentrates and gold recovery becomes a secondary consideration. In some cases, where significant quantities of gold are contained in base metal ores, the gold is floated from the base metal tailings. The flotation of gold-bearing ores is classified according to ore type (i.e., gold ore, gold copper ore, gold antimony ores, etc.), because the flotation methods used for the recovery of gold from different ores is vastly different. In flotation of gold-containing base metal ores, a number of modifiers normally used for selective flotation of copper lead, lead zinc, and copper lead zinc have a negative effect on the floatability of gold. Such modifiers include ZnSO4·7H2O, SO2, Na2S2O5, and cyanide when added in excessive amounts. The adsorption of collector on gold and its floatability is considerably improved by the presence of oxygen.”

Telfer will be utilising Havieron sample loads to adjust their processing procedures. This ore will go through numerous procedures to get the plant train set up to deal with at least 2m tons of ore from Havieron.

Hi Mark
I feel we will find other targets some good some bad, the signs are looking good but until they find something we are all guessing.
Historic drills suggest the PRE is copper analogous but they also suggest so was Havieron with low gold results. Sooner we hit something the better.
ATB:))

DS smith
I suggest you look at the accounts, there are no assets booked to the accounts of any note.
This is why we need the PFS, FS and Decision to mine ( the bankable study).
Each study will add value on the accounts.
The Decision to mine will propel this share.
Don’t knock the messenger as he is correct on paper but we all know this is mega, the market on the other hand needs proof.

Finding another Tier 1 will be very hard and costly, they are very rare. There will be very few successes.
Havieron is unique, I keep saying there’s only one Havieron and I am really convinced of that.
It’s got gold and copper in big quantities, unique and it’s MASSIVE.

Oh yes she says it’s in her diary :))

Am I :))))

Hi Strudel
The continued going back and forth to the same led to me thinking it was reworking the water bore holes.
The northern breccia weren’t publicly known in November 19 but neither was the box cut.
The provision for another Decline to the North seems to be allowed for in the Design as a contingency.
In the original mining plan the early decline schematics showed 2 extensions from the end of the decline to the centre edge of the ovoid this has been revised due to subsequent updating of the SE crescent.
It’s all very intriguing

Hi Redtrader
I’m glad someone noticed what I was getting at with the Eastern breccia.
The sizes I mentioned of 200x400x400 deep are scaled dimensions from the published plans, if my assumptions are correct of an increased lower ovoid then these sizes will increase considerably.
These dimensions are around 10% of the total tonnage but could end up 15-20% it’s hugely important and further drilling results are due hopefully in the end of July.
ATB:))

The Eastern Breccia is one of the growth areas that are being targeted within the current present drilling campaign.
The 3D image on NCM presentation is slightly misleading where it is shown as a separate entity to the main ore body. It is in fact integral with the ore body, a large section of it is inside the sulphide ring and continues upwards to form the Northern Breccia.
Only 2 drills have been able to get to this zone as it is down deep below 900m of ore , or 1300m below surface.
These 2 drills only skimmed the top layer recording 342m @ 2g/t and 145 @ 1.4m.
The boundaries have not been found yet, at depth it’s still open to the SE,E,N and NE outside of the sulphides and increases in density within the sulphide ring.
The sizes outside the ring are approximately 200x400x400m deep at the moment.
This relates to approximately 6m oz of gold.

Of course it’s still open at depth, we will not find out the depth for many years to come. The drill lengths to find the 1300m depth of ore at this stage could all be around the 2,000m length, these are very long drills nearing there maximum.
I’m excited to find out what is happening down there and how much bigger it can grow

Hi Strudel
Looking at the position of that latest pad the easterly coordinates suggest it is 1700m away from the edge of the Northern crescent
The drill length would be 3,400m .
This distance rules out the crescent, Lake Hvieron and the target on Callum screen saver.
That leaves a new target which by all things considered doesn’t look part of the plans at the moment.
Bore hole clean out is a possibility, especially if sand and clay silts are blocking it.
The other possibility is geotechnical work for planning a new decline to head for the Northern crescent.

A new decline could be a big boost for the initial production which could be increased to 4m tons.

There has always been a query on why the SE decline leaves the portal at an angle as if to leave room for another one.
Another decline at a lower depth entering the existing decline would not be able to increase the production as much.
My thoughts have always been that they will extract all the HGZ before any bulk caving commences lower down so a decline to the Northern crescent looks a good possibility.
ATB:))

Hi Paddy, Speedy
My preference would be to hold on to the 30% for as long as possible but I think NCM will want the 5% and maybe more eventually, leading to Royalty payments.
The way gold and copper prices are going I don’t know how anyone could put a price on the 5% or the rest.
ATB:))

Hi AJ
Ah yes the 5% that’s not due till after the FS, that’s a year away.
If you look back 12 months could you have predicted how big Havieron would have become now, I doubt it and all we could do is work out the value as of today, that would be pointless really.
I believe Ggp are in a win win situation at the moment if the 5% happens our debts to NCM will be cleared and money in the bank, if it doesn’t happen then I think Ggp will be better off with the revenues wiping out the debt quickly and building cash reserves.
ATB:))

Hi redtrader
You need to refresh yourself with Zoro timeline.
The sample ore is what they’re after so that the FS can be finalised it’s not full mining permissions.
Permissions are needed for the SLC operation and future bulk caving.
2028 is a realistic date for the bulk caving , there’s a phenomenal amount of work till the bulk caving starts and most of the HGZ will have been removed by then.
ATB:))

The PFS is required for the initial stages of the mine this is then issued to the authorities for approval.

Bringing the PFS forward is to bring the approvals forward.
The PFS might still get delayed if something from these latest drill results changes the plan in someway ie new find which changes the mining method. Nothing I’ve seen at the moment to suggest this will happen.
Any delay though is not going to hinder the Decline construction or the vent shafts.
ATB:))

Hi TmT
I agree we all know this will be a mine, the PFS is required to show the initial stages and routes to full mining
ATB:))

Hi Jack the bear
I'm looking at pages 4&5 on the redsetter Rns Feb 21
https://wishbonegold.com/images/2021/02/WSBN_RNS_Red_Setter_High_Resolution_Magnetic_Survey_Results_10jq210218.pdf
If you can tell me I am incorrect with my assumptions that Redsetter is tiny I will apologise but I don't believe I am.
That board are going on about the strike length being bigger than Havieron not the actual target size . The size I mentioned earlier looks to be over generous
ATB:))

You have to look very carefully at what is happening at Havieron.
This is one of the biggest discoveries in a long long time and other firms are chasing rainbows.
Goliath is the only thing I've seen that may eclipse it but there has to be minerals there.
No other discovery anywhere is in the same situation that Havieron finds itself.
A world class mine and plant just up the road which is running out of ore and desperately needs new ore.
Small discoveries will not keep Telfer from closing.
Investing in Ggp is a once in a lifetime investment and for those that got in really early other firms want your profits, don't be fooled

Hi Ben
To be classed as a tier 1 asset it has to be producing so we are still some time away from that.
But tier 1 assets keep on giving.
ATB:))