Member Info for Bamps21

Hi Redtrader
I wondered that sometime back, I personally haven't come across any mines as such.
There has been a vast amount of drilling, magnetic surveys, gravity surveys, MMI surveys, aero magnetic surveys.
The old Saddlereef target A29 is open at surface and this is where the nuggets have come from.
Parlay though has only had a few grid drills and is still an unknown quantity apart from what the aero magnetic survey picked up.
I would suggest it used to be an advanced area but new information from the aero magnetic survey has altered all that especially around Saddlereef now split into 2 A29 and A31(from memory).
A31 is interesting as it has been lengthened towards Swan . The drills at A31 suggest 200m of cover but Swan has 50-100m.
Swan the old Blackhills South could be very interesting if they find anything there as it could end up open pit on our 100% owned tenement
ATB:))

Hi SW2
I go to Shaw quite a lot if you're anywhere near there
ATB:))

Hi Zoros
I wasn't trying to compare like for like between Solg and Havieron I don't really follow them.
The figures quoted in the News section this morning were the only ones I was comparing with.
The figures quoted for Havieron are for a mine of 2300m deep I can't see them going lower than that.
I never mentioned the silver as it's not in the equivalent % but neither is cobalt at Havieron.
Looking at their latest drill results grades they look lower than Red Chris, it could mean the extraction process may end up being leaching where some gold and silver end up in the concentrate but the recovery factor will be low similar to Red Chris.
Have to say I don't study it enough to have an opinion
ATB:))

Hi Zoros
I don't looked at my e mails very often but will get back to you, I've been looking after my friend whose not got long so got a lot on my plate at moment
ATB:))

I've been trying to compare Solg latest drill results to Havieron, that's not easy the way they are presented.
They've reported in Cu/Au eq and haven't included higher grade intercepts but overlapped them making it look more than they have.
High, Medium and low case shell cut offs are 0.1% 0.2% and 0.4% cu/au eq
The actual gold grades look low around 0.1 to 0.15, copper values don't look very high either.
Most of those grades if reported at Havieron would not make passed Havieron cut offs.

I couldn't find any recovery factor % for Solg so far

At today's prices Solg would have $140bn revenues
Havieron $198bn
Not allowing for any costs just to compare!

There's some Solg news this morning on the LSE news pages and they quote them as having 10m tons copper and 20m oz of gold.

If we look at Havieron potential to it's extreme depth of 2300m below surface giving 1900m of ore this would give :-
1,418,000,000 tons
@1g/t =45.2m oz
@1.2g/t = 57.6m oz

copper @ 0.4% = 5.7m tons
@0.6% = 8.5m tons

NB:- I've not included the 15% dilution for waste
I've also not included the extraction % where Havieron is around 85% for copper and 92% gold
Also could still be open to NW and N but not depth

I feel so lucky that most of my shares were bought below 1p.
The thought of selling at 22p and stressfully waiting for it to get low enough to buy back in, what's the point of that, certainly not for me daft idea.

When you look around at other shares and see how badly dilution is hitting investors.
Ggp 4.2bn shares since I bought in only warrants and company share options issued.
Ukog recently announced another 262m shares issued now 13.2bn in issue
BPC - rights issue only 38% taken up rest sold in book build , 7.2bn in issue, now waiting for consolidation to 785m.

Think I just leave my Ggp shares alone feels really safe at the moment.
Would I buy on any fund raising, you bet I would!

Hi Littlecrumbs
There's a huge difference between a copper/ gold mine and a Gold/copper mine, the revenues/profits in the latter far exceed the former by a long way at the moment.
A copper/ gold mine will have to have vast amounts of copper to make it more viable and these sorts of finds are just not happening.
ATB:))

I always find that the copper forecasts are confusing
This is Trading Economics forecast:-
Copper is expected to trade at 4.56 USd/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4.19 in 12 months time.

Then they say:-
Copper futures traded around $4.7 per pound, not far from a record-high of $4.9 per pound hit on May 10th, after a strike by a union of remote operations workers at BHP’s Escondida and Spence copper mines in Chile began on May 27th. In addition, upbeat US economic data and President Biden’s multitrillion-dollar infrastructure plan lent further optimism to the copper bulls. Strong PMIs data, in particular a private survey showing manufacturing activity in China advanced to a 5-month high and Markit data pointing to a record factory growth in Europe reinforced a positive narrative of economic strength. Overall, given how crucial copper is in the transition to a carbon-free world, demand is due to outstrip supply this year due to a lack of investment by large miners.

Seems to be contradictory

CNBC news 6th May
KEY POINTS
In a note Tuesday, Bank of America commodity strategist Michael Widmer highlighted inventories measured in tons are now at levels seen 15 years ago.
Given the fundamental environment and the depleted inventories, Widmer said copper may spike to $13,000/t in the coming years after recently notching $10,000 for the first time in a decade.
David Neuhauser, founder and managing director of U.S. hedge fund Livermore Partners, told CNBC that copper is "the new oil."

Which way the price will go this year is anybody's guess but just take a look at where it was when NCM entered the Havieron jv $2.79 per lb today it's $4.67 down from a high of $4.90.
Strikes and stock shortages can only force the price higher.
I'm of the opinion when Havieron starts producing $5.00 will be a low price.
Investment in copper mines is still way low globally.
If the price rises to around $25,000 pt and gold doesn't rise then Havieron will be on the verge of a copper/gold mine and not gold/copper mine.
Some forecasters are predicting $30,000pt.

All very confusing :))

Hi Archways
I certainly do hope you post again next year , good luck to you
ATB:))

There is a crusher shown on the plans close to the top of the box cut and a run of mill stockpile, so the thoughts are there to reduce the waste transported to Telfer.
Once the crusher is in place we will know the ore extraction is close.

Timelines from the Mining Plan rev3

Raw water cell 1 due to finish Dec20( I think that should be Dec21)
RW cell 2 start Jan 22

Hypersaline cell 1 start Nov 20? (I think that should be Nov21) complete May 22
HC 1-2 start Jun 22 to Dec 22
HC3 start Jan 23

Thing is with a planned programme if something accelerates it starts to cause issues, I'm not saying they can't overcome any.
Firstly they must have assumed the Decline would be passed the first vent position when the vent start as Dec/jan time.
Also tied into that are the timings for the Raw water cell and hypersaline cells. These 2 cells will have to be completed quicker especially when the Decline gets to the lower tillite which is hypersaline, this water has to go to the cell it's unusable.
Materials would have been ordered to suit this timeline especially out in the desert.
Let's hope everything is geared up to going faster.

He's certainly hoodwinked you fella!

I've spent long enough on this subject today trying to help Zoros out.

The timelines were too optimistic and I think we have sorted that out to most people's satisfaction.
I knew someone would have a pop at that plan at some point.
It was very brave of Zoros to attempt such a thing.
I am not here to do people's research for them , I don't mind sharing my knowledge but that's it.
If you want to find out what SB said go listen

Hi Zoros
I did a post earlier about the MRE

4.2.1.2 Decline
The decline will be developed by a Contractor as a single heading in the Permian cover to a depth of approximately 420 m as shown in Figure 7 and Figure 8, with a cross section shown in Figure 9. The decline gradient is 1 in 7 down in consideration of mine development truck haulage and potentially life of mine truck haulage for production. The following lateral development has been designed for the section of decline to just below the base of the Permian cover:
• Decline - 2,773 m; ?
• Ancillary development – 921 m (consisting of stockpiles, passing bays, sumps and ventilation ?drives); and ?
• Vertical development – 506 m (consisting of ventilation raises and an escapeway ?The following additional requirements are expected: ?• Decline stockpiles are assumed every 150 m, are 21 m long, and are scheduled with an additional 8 m per stockpile to account for sumps; ?

You better listen to Sandeep talking then cos it came from him to start with

Hi Sw
Not a Roadheader what's this in Revision 3
" • Development of the decline is premised on utilising both Roadheader and Drill and Blast Methodologies. Shotcrete application will occur following the completion of the excavation and bogging cycles. Shotcrete will be transported from the surface to the face area underground utilising agitators and will be applied to the backs through the use of shotcrete rigs. Rock bolt installation will occur utilising the Jumbo for decline development. ?Removal of waste rock from the development headings will be via truck. The trucks will be loaded via the tail conveyor from the Roadheader during the excavation cycle or loaded out by an underground LHD into the Haul Truck at the previous stockpile. ?