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SML Tungsten deposit is in veins over 400m deep. The grades are the highest in Europe.

Ggp has O’Callaghans a very large deposit 5m to 70m thick it has high grades throughout, not quite as high as SML, but it has high copper, zinc and lead grades.

Test work on the ore suggests it fits in with the flotation plant and pyrite leach circuit.

The plant will produce copper, zinc, lead and tungsten concentrates through one train.

170kt tungsten trioxide, 160kt copper, 450kt zinc and 230,000 of lead.

Tungsten trioxide is 2 steps up the proceeding chain from ammonium paratungstate which is what most miners sell.

APT concentrates at the moment are £2,031 per ton that’s doubled in the last 3 months

That would value at £400m

The copper values are huge $1.7bn, zinc $1.3bn and lead $450m.

The project is major and globally important.

To top it all there’s another anomaly nearby called O’Callaghans North and also 2 more tungsten targets at Trotmans stockwork east and west.

In the admissions document it quotes the tungsten as $44bn but I believe that’s the finished product.

Hope Shaun gives us some news on what he’s going to do with it very soon.

From Timber Traders post 👏:-

https://announcements.asx.com.au/asxpdf/20090918/pdf/31ksnmxrlzythp.pdf

With Sureasblazes and Rotherby doing so much for me in organising these events, I wish to offer many thanks to them both.

It’s always a surprise to me who turns up and so many of you 👏

Only a week away from our next Stroud meeting, I’m really looking forward to it and seeing smiling faces.

This share has changed so many people’s lives, some are still underwater but most now must be smiling. I know of 2 pubs down to Greatland profits. I haven’t done anything with my profits yet still too early for me, I still see a lot more growth 🤞

We had a huge amount of drill results from the June quarter all from Telfer, there was and is a lot of exploration drilling that is still to come omitted from those results:-

Camp Dome, Parklands both ends, Trotmans Central, Ironclad, Backdoor North, Big tree extensions and Ernest Giles( I don’t think I’ve missed any out).

I’m on my third attempt at a Presentation deciding which images to include, nearly there I’ve spent hours on it.

Looking forward to seeing another packed room. 🙂

All the Best 👍

I the scheme of things I can’t see Ggp doing anything with it until Havieron comes on line and the cash becomes available.

What it does is presents an opportunity to run that ore through the Telfer processing train if the ore runs out, whenever that will be.

Hi pj

I did mention about the amount of copper at O’Callaghans previously that Presentation doesn’t reflect the current price which is a lot higher although copper did have 2011 highs.

The great thing is the flotation capabilities.

People must remember this is a an ammonium paratungstate concentrate not a tungsten metal.

There’s a report from 2012 saying tungsten is also in Trotman stockwork east and west.

Just to the SE of those is Oscarina which has silver

There were 3 drills at Trotman to the west of Trotman Gossan on Trotman central

I doubt Ggp would get a 2.5% royalty, Newmont has a Royalty on it already, I think it’s 1.5%. A farm in with a jv would be my guess.

O’Callaghans is a big deposit of Tungsten and copper but we have a smaller deposit of Tungsten at Trotman Dome.

Recent drilling involved drilling one of the Trotman anomalies on the SE of this dome, ie Trotman Gossan. Will be interesting to see what they report there.

Newcrest left us with a mining plan for O’Callaghans. It will be a big mine. It will cost more than a billion as it was more than that in 2014.

Exciting times for Ggp

I can’t see them buying anyone until the financial situation with Havieron getting to production and Telfer well funded. Why jeopardise either project.

Regarding Artemis Shaun said in London “ they’ve drilled everything we would have”.

He also said Minyari was too small.

If Winu came on the market I’m sure Shaun would be there talking to them.

We’ve enough on our plate without taking on more liabilities and exploration costs.

The Prospecting application is very encouraging at the Camp Dome, hopefully it will be next.

Regarding Winu to the north of it they’ve put in an application for the rest of the Sipa licences, it’s huge surrounded by FMG, something going on.

As I understand it, they dry the tailings and turn into pellets for transport then at the paste plant at Havieron they add the correct amount of moisture to turn into a paste and mix with 1-2% cement then pump it down the mine. I doubt if they would be allowed to transport wet tailings due to environmental hazards within the tailings.

They seem to be using the tailings from the dam in the main dome underground to backfill the stopes especially in the Rey stopes at the moment.

The tailings to Havieron will have the moisture reduced for transport and it’s the old tailings that will be first these have been tested and approved for the stopes at Havieron. I would like the thought that they could get value out of the tailings but they’re just as valuable as a backfill material. Finding a different source could delay bringing high gold grades out.

That 0.5g/t would be too high for the tailings dam I doubt if it would be that high.

The waste mounds look different, some of these are the low grade stockpiles 20+ mt and the same for the leach pads

Hi Howezap

Coming from a construction background “ a tidy site is a safe site, better quality, more efficient and happy site” 🙂

These leach pads are very high mounds 🙂

From the Presentation of the site visit in the Summer

https://www.greatland.com.au/wp-content/uploads/2025/06/Site-Visit-Presentation-5-June.pdf

Page 22

This shows a colourful map which I sent to Jerry 🤣

To the left of the West Dome pit are 2 huge what I use to believe we’re waste mounds, well Newcrest believed they were with low prices. This plan shows them as being low grade stockpiles.

Most of these mounds have historical drill results, Ggp these 2 huge mounds in their sights . The southern extension and stage 7 western edge go under these mounds. These are due to be processed from next June in FY27.

Stuart Hinds photo this week showed a drill rig on the edge of the pit for the southern extension infill drilling.

It’s all falling into place around the West Dome pit.

What isn’t clear at what happens to the mounds around the Main pit. I’ve seen drill logs for the mounds at the north end.

There’s clearly a lot of mounds that maybe still to be included in the stockpile stocktake.

Also the leach pads look to be a rich source of low grade and ROM. There’s one old one that’s been buried under waste rock.

Still loads to go at, I would say they are still feeling their feet after only 10 months of ownership 🙂

Hi Element

I don’t possess the knowledge how banking works. I do know that Shaun does.

What you are proposing won’t be sustainable there isn’t enough to fund both projects.

I don’t want the thought of you misleading others into another disappointment.

If they don’t need the debt I shall be relieved but there is an awful lot to fund on both projects let alone anything else that comes out of the exploration.

They need to keep a good amount in the bank in case of calamities.

I haven’t changed my thoughts about using bank loans to develop Havieron.

There was too much talk yesterday about how much we will have in the bank by Xmas.

There was too reality is there is a $46m stamp duty fee to pay this month and also a corporate tax bill due in the March quarter.

Ggp have banked over the last 2 quarters $175m from $575m to $750m.

In July they had $450m in the bank and $125m in a short term deposit account.

When I had my own company I made sure my liabilities were kept separate, so it looks like the $125m is kept for liabilities.

There is a $75m contingent facility with the banks , Havieron has a pre FID capex of around $70m. This certainly looks the way it’s going before this facility lapses.

In the March quarter it says that the cash in the bank will fund Telfer expansion and Havieron will be by debt.

It doesn’t say that in the June Quarter, however banks will not lend until a Final Investment Decision is made so it needs that in place.

There is too much investment required at Telfer to dip into the pot for Havieron, but the increase in cash flow may alleviate some need for the initial investment.

I don’t see the need for the full capex of Havieron to be funded by the banks, once Newmonts $100m is paid the capex should be self funding.

I would hate to think we use all our bank balance in these uncertain times, let others fund the start at their risk.

I don’t care if others don’t agree with me but don’t get disappointed if they use debt, I shall be happy if they don’t have to.

The only explorer Shaun is likely to help is Aventine for some reason.

Artemis, Antipa, Wishbone and now GEO it’s all wishful thinking and nothings happened.

Let them spend their own money developing.

Hi the snorkler

That was the worst 🤣🤣🤣

When you read the July quarterly it’s still intending to use debt funding for Havieron. In my mind I would rather spend other people’s money and keep a bunce in the bank . You never know with mining when you will need it.