Member Info for Bamps21

The 5% can be acquired after the FS not the PFS at the moment.

Hi Tig
I've sent you a photo of the Rose and Crown :)) Super Duper place

Ggp are fully funded up to the Feasibility study or the official Decision to Mine, at this point 2 things will happen
1 The banks will be falling over themselves to invest in this high profile project.
The asset will added to the current accounts at this point.
2 NCM will make the Decision to take the 5% interest upto 75% and use the loan and interest accrued against the price

Not knowing the dates of the FS or start of production, there is a funding gap of maybe 6 months.
Once the production starts in earnest this will fund future works. From 2024 profits could exceed $200mpa every year till the Bulk caving starts then upwards to $400m or more thereafter.

Ggp will have a shortfall in cash for 6 months or so until production gets going and transport issues are dealt with. The banks or NCM will sort this out either by loan or buy in funds

I'm not particularly worried about the length of time in the labs.
If they hit mineralisation at Goliath will they move the rig to another target?

I really don't think they will or need to

Hi Zoros
I can't remember an N5 and A9 I doubt will be drilled yet its not big but it is near a fault line

Hi Zoros
Can I ask where have you got A9 and N5 from.
Tama is A23 on PRE
A9 is an unamed target next to Los Diablos

Drilling targets are Parlay on Blackhills
Goliath , Outamind and Los Diablos, Tama is a maybe
ATB:))

Hi Morningsun
The magnetic sources haven't shown mineralisation in the old reports for Outamind and Prefect, Gold results were poor.
I think this is the reason for only having MMI results reported for Goliath.
I am nervous that this anomaly may not be mineralised but looking at all the data it looks very promising and described as a very high priority target.
The magnetic anomaly is fully coincidence inside the gravity anomaly so I would expect high alteration levels in the gravity anomaly if the mag anomaly is the hot zone.
If it is the hot zone it could be mind blowing:))

You were nearly right Pete the copper works out to be around 8.4m oz eq not tons @$7,400pt (@ $9400 the eq value is a lot higher)

The historical NCM data on the 4 targets Outamind, Prefect, Atlantis and Havieron from 1991 and 95 has put doubts in my mind over what they might find.
Reasons to temper my enthusiasm:-
Outamind and Prefect hit the magnetic source with no obvious mineralisation according to the report. The magnetics at Outamind look weak apart from one spot.

On these 2 targets though the assays showed low levels of alteration minerals.
Also the drills were not deep enough or aimed in the right direction.
Atlantis is different they drilled in right place and in the right direction and found good copper readings 2100ppm but again they didn't drill deep enough.

All 4 targets had assay results very similar in the cover and into the magnetic anomaly i.e. weak alteration values.
When compared to The Scallywag alteration they're nowhere near as good.

Outamind has 480m of cover it caused all sorts of problems for the drills , gravity surveys and downhole logging.
Prefect and Atlantis have about 90m of cover.

Goliath looks different, I've not seen the drill data but the survey models do not look like lithologies.
There looks to be a magnetic intrusion coming up through the gravity anomaly from 1200m up to 200m.
The drilling is targeting this intrusion, it's contour volume indicates about 2.1bn tons so 4 x Havieron.

In 1995 they knew Havieron was there but the technology was not advanced enough to tell them where, so they went looking for shallower stuff and didn't find any.

New survey techniques and vectoring have come to Ggp's assistance.

I'm still hoping enthusiastically that Goliath will be the one but am tempering it a bit and not hopeful for the other 3.

My calcs
Calculations with the Eastern Breccias
and also 1200m but not the northern extension
I think I've been very careful/conservative with my assumptions:-

"I've gridded the plan and fairly accurately I believe the area = 176,000 sq m after deduction for the dyke.
I've split the depth into 2 sections
900m deep for the 650x375 section
300m deep for the 800x500 section
2.75 breccias specific gravity
0.75g/t average breccias grade

Top 900m
900x 176,000 x 2.75x 0.75 divided 31.1=10.665m oz

Bottom 300m
300x 314,255 x 2.75 x 0.75 = 6.25m oz

Total = 16.9m oz
I've worked out the gold recovery rate is about 89% average of the breccias and sulphides
Therefore the quantities are around 15.3m oz.

The 2.75 is conservatively on the low side
the 0.75g/t may increase.

It's all about the average grade but from what I'm seeing 1g/t or less is realistic "

From these calculations I've not taken into account for the High grade zone allowing this to compensate for any waste rock.
I've used 0.75g/t to allow for the shell cut off levels.

Conclusion
@0.75g/t = 15.3m oz (most likely)
@1g/t = 23.5m oz
plus 11m gold equivalent ounces
plus any cobalt gold equivalent maybe 3m oz

Hannams getting close to my calculations but they either haven't taken out the Dyke or added the sulphides volume twice

When Diamond drilling Outamind they drilled a small borehole for water for the diamond drilling operation.
This water was potable.
If you have been following my previous posts on Havieron , the water content at Havieron is saline.
Outamind is potable so sulphides are not likely there.
The one DD that did vaguely hit the magnetic zone found low levels of mineralisation below the cover sequence. NCM have suggested they were 100m into it but from what I can see of the magnetic survey it was sited off target and the angle of the drill was in the wrong direction.
This indicates to me they hit alteration.
It looks to me like a copper play but they were way off the coincidence , so things may change.
A spring clip broke on the downhole logging tool so there is little info from it.

Besides me there is quite a bit of interesting old stuff about.
I've found out NCM were inexperienced at drilling through the 400m of Permian cover and were having trouble drilling through the variable types of material.
This is from 1991/2 and 1995 drill campaign.
The first drill at Outamind got stuck and they had to abandon it.
When they finally overcome the drilling issues they had troubles pulling the cores out but they were trying to pull out 12m, then they went to 6m and then 4m but were still having trouble orientating the core with the holes.
The drill lengths per shift plummeted from 30m to 15m.
Downhole logging tools also failed on nearly every hole for one reason or another.
This is why they didn't reach the depths to find the mineralisation , they knew it was there but couldn't reach it with the techniques at the time

From historical bits of the Paterson licences the North end of Paterson Rang East was called "Punchimup" that's straight up :))
That don't half sound like this board sometimes

The Artemis opening view of the Paterson:-
"The Paterson Central Project is located at the centre of a discovery revival in the remote Paterson Province of Western Australia. Hosting the massive 27Moz Telfer Gold mine, Rio Tinto’s exciting Winu Copper Discovery and the huge Newcrest/Greatland Gold Haverion Gold Copper Discovery now under development."

HUGE Gold/copper discovery
There's only one Havieron :))

Has Havieron drawn the minerals out of Artemis targets
Nimitz
"All three holes drilled encountered intervals of intense hydrothermal alteration of upper Lamil Group rocks in close proximity to Havieron. This suggests that causative effects of alteration surrounding such a large gold system as seen at Havieron extend into, and occur on, the adjacent Artemis lease directly to the east. "
:))

Hi Dfirth
I hope the results aren't interfered with, only joking I think we all know what you meant
ATB:))

During the removal of 6m tons I've worked out before , the income generated after costs to be around £200m for 9 years.
Giving back to shareholders say £100m, would be about 2p per share.
After 2028 the bulk mining will start so the combined income after costs will reach £400m.
Question is what capital retention will they need to fund other projects and will other projects also be producing at that time.

Hi Panama
You I've slipped down to number 5 now :((

Hi Everyonesawinner
Although a higher SG has an uplift on tonnage it's higher grades that have a dramatic effect and consistent lengths like the 340m @ 2g/t is much better than having a series of shorter intercepts with 4g/t. As the waste between the intercepts reduce the average considerably
ATB:))