Member Info for Bamps21

copper just gone over $4.2lb
That's 16% higher than the MRE price used in December.
With the copper price increasing that alters the gold equivalent equation which was gold oz + 1.65% copper.
Will it ever get to 2% looks like it :))

Cobalt $51,000 per ton that's up $1,000 in a few days

Hi Floater
I wasn't pointing the finger at anyone in my post I apologise if you took it that way.
They couldn't have picked a worse time for the results to come out and the frustration is showing here with the delay.
The results will probably be the same as the last unless one gets near the hot zone.

From my point of view I will be looking at clues for indicators.
This is very very early exploration there were no historical holes to get any clues from.
MFU has asked about the next targets to be drilled well Los Diablos and Goliath had 3 holes each I think they were RC drills which should be ok to put a core drill down but they were all off target.
These 2 targets from the hole info may have indicators they can work on.
If they use an RC drill they may be using new data.

I haven't seen any drills at Parlay so it might end up like Scallywag trying to find the hot zone.
Outamind is fairly drawn out along the fault line I expect this will be a very early stage exploration.

Exploration is a long drawn out business, start with the cheap shallow drills, when confident drill one or two deeper holes like the Havieron 1-4 campaign.
If Havieron 002 had been the only drill in that campaign none of us would probably have stayed.
This is going to be an exciting period with lots to learn
ATB:))

I will keep posting this while negative posts about those 3 drills still persist.

3 x3" holes in a licence 20km long.

Ggp have started exploring Scallywag they have done a serious amount of above ground survey work that they can do before needing to drill.
On the first drills you don't go deep,
one to keep the costs down, restrictions what the drill type can drill through and the knowledge that can be retrieved from a shallow well.

Magma can travel vast distances horizontally and vertically under great pressures and heats.
The heats and pressures change the surrounding rocks by drawing out their minerals into the magma, so the further from the source the lower the pressures and temperatures and different minerals are drawn in.
That means different mineralisation will form at different distances from the source.
Looking at those 3 drills at Kraken there is arsenic and gold and at Blackbeard there is lower grade gold and no arsenic.
When you look at massive intrusion diagrams gold and arsenic form close to the intrusion than copper and zinc.
Using this sort of information geologists can be directed to where the intrusion may be sited.
From what GH was saying London is pointing towards Teach.
From my lowly knowledge there is something deeper under Kraken, one of the 4 drills we are waiting for was testing where the 2 fault zones meet, so the information from that will be very interesting.
Those drills were in the porphyrittic alteration zone, it's the potassic alteration zone they are looking for.

We need to find the hot zone at Scallywag to define what we have

I read this on the ITM board:-

an L&G spokesperson said: “As we transition to a net zero carbon world, Legal & General Capital is playing an important role in investing in renewable infrastructure and clean technology across low-carbon heat, transport, and power generation.

Hinkley:
The UK government has guaranteed EDF £92.50 for each megawatt hour of electricity produced - a price which will help EDF recoup the rising cost of the project, but one which is at least twice as high as the cost of wind-generated power, offering poor value to consumers.
Wind power generation cost as low as £44 per megawatt hour at auction last year.

L&G’s boss Nigel Wilson described Hinkley in 2016 as a “£25bn waste of money”.

He told BBC 5 live: “The world is moving towards clean green and cheap energy. Solar, wind will play a much more important role. Hinkley is probably the most expensive energy we can think of right across Europe. That’s really bad for society.”

Copper is the key to clean technology the price has risen sharply in the last 12 months, supply shortages can only increase the rise in the next few years.

Havieron production due to start in a couple of years.
What timing is that!

For those that don't know what Ggp have:-
Ggp is not a one trick pony for short term investors
Ggp is all about long term assets, it is definitely not for short term thinkers and there are many on this BB. I know in my own mind the assets are worth multiples of the share price.

Just a few highlights of our assets:-

Havieron:-
A multi speed development of a mine with a joint venture with a global mining company.
Gold resources could range eventually to between 12-28m oz plus major copper resources and also major cobalt resources.

Juri jv:-
Paterson Range East:-
Multiple gold / copper targets 12 known at present including the giant Goliath target a 15bn+ tons target that's 30 times more tonnage than Havieron.
Blackhills:-
At least 6 targets including Saddlereef 1400m long gold target one end poking out of the ground suitable for open pit.
Also Parlay a bullseye feature on top of a main fault line.

Panorama:-
A very long Paleo-placer goldfield to the north
To the south a very large cobalt anomaly possibly the largest in Western Australia and possibly Australia.

Scallywag 100% owned:-
At least 12 known targets the majority of which are sat near fault lines.
Underexplored

Rudall :- 100% owned
Bullseye feature underexplored

Ernest Giles:- 100%
2 x 5m oz targets identified plus numerous 1m+ camps of gold deposits
Plus a large nickel target

Bromus 100%:-
A mainly nickel discovery underexplored

Warrentina 100%:-
A 10km north to south licence with 4 goldfields and existing mines.
1m+ gold ounces identified
Ready to be divested.

Firetower:- 100% owned
5 exploration zones
1m+ gold ounces identified
another 1m possible
plus zinc

Tabletop 1&2 licence applied for

When you look at all that short term investment is not what this share is about.
The long term prospects look really promising
Gold 12-28m Havieron
12m+ E.G
1m+ Warrentina
1m+ Firetower

Plus copper plus cobalt plus nickel plus zinc.
Plus Paddysat :))

This is a big company in the making and I'm certainly going to enjoy the ride

For those that don't understand what 1g/t means to Ggp

Havieron volumes
This is the calculations I did after the Quarterly presentation :-
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

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

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.
On present published dimensions I'm estimating the Eastern breccias around 900,000 ounces, i can't see the average grade or sg being much higher than 0.75g/t or 2.75.
At 1g/t = 23.5m oz

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.
Cadia' new Train 3 Flotation process retrieves far more of the gold and copper and prevents it going into tailings, so if eventually employed at Telfer will increase the recovery rate above 89%.

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

Well there was only 4 of those holes drilled with an RAB.
8 holes around Swan with a rotary drill 34-132m deep.
The RAB though is a percussion drill where the RC isn't.
It would make a cheap start for a core drill if those historical holes are over the targets which looking on the Scallywag plan doesn't look as though they have.

The RAB drill comes now with an XRF downhole survey tool which wasn't around when NCM drilled those 4

This is the drill NCM used in the Northern area of Scallywag.
https://m.youtube.com/watch?v=PY_jcscnm_s

Now could they have gone deeper ask yourself?

The geology at Tama

? A25 (“Tama” Prospect) - a strong, apparently flat lying conductor, interpreted to
represent a supergene horizon developed in or over an intermediate to mafic pipe intruding granite.

Supergene is where minerals are washed out of oxide ores and leached downwards by groundwater and reacts with hypogene sulphides to form super rich deposits found normally at the base of oxide ores.
Normally best associated with copper rich deposits.

Super rich :)) I like that

If you haven't looked at the plans yet on the Jorc section of the web site I would do it now.
PRE :-
24 anomalies A1 to A25(A24 ?)

Blackhills:-
6 anomalies but mostly renamed
Saddlereef has turned into Blackhills Dome and turned into A29 and 31 and looks longer.
A29 is the area with no cover
Parlay is A30

Have a look to see what you've invested in :))))))

Hi thedoors
I'm not on your list I'm a 21 :))

To be honest the Aus$50pt would only relate to the 54m tons in the shells at this point.
Whether this figure relates to the lower grade I would doubt it.
The figures used for the shells look low

I don't think the total tonnage will ever exceed 750m tons
At 1200m deep we have c600m tons
Eastern breccias c50m tons
Another 50m tons if it goes another 100m deeper
50m tons for other extensions

Hi Paddy
My copper valuation if we say gold pays for everything was between $175-$200m per year for 30 years to Ggp
Using that NSR value = $333m
How does that compare with yours?

Hi Jambo
$170-200m profit from copper is around 3-4p divi every year just from Havieron plus the cobalt profit.
Any excess income from gold would grow the company.
If you look at one of those graphs I posted this morning from BHP, one of them indicates how many extremely large finds were found upto 2006 and just a handful made the grade over 10m oz with an NPV of >$250m.
Havieron is on course to join this unique Tier 1 club but would have struggled without the copper.

Tier 1 mines keep on giving

Hi Flashy
I'm not quite right but better than yesterday, still not sure if it was down to the jab or something else.
My post about VMS system was comparing it with Scallywag.
It's got everything a VMS system has or looking like it.
One of the last 4 drills might hit the hot spot we just don't know but they will indicate signs of what we have and what to look for next.
The top end against the Blackhills border looks like another VMS district with lots of smaller finds.
Then there's Parlay another bullseye feature across the border.
If this doesn't take off soon I will be very surprised

ATB:))

Hi MFU
I'm just looking at the PFS as another stepping stone to mining not really as a catalyst.
The Indicated resources maybe a catalyst.
The one thing for Ggp though will be the ability to obtain finance which at the moment is restricted, so that could be a big catalyst.
By the time the PFS is produced the works themselves will be way passed that milestone.
ATB:))

Havieron volumes
This is the calculations I did after the Quarterly presentation :-
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

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

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.
On present published dimensions I'm estimating the Eastern breccias around 900,000 ounces, i can't see the average grade or sg being much higher than 0.75g/t or 2.75.
At 1g/t = 23.5m oz

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.
Cadia' new Train 3 Flotation process retrieves far more of the gold and copper and prevents it going into tailings, so if eventually employed at Telfer will increase the recovery rate above 89%.

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

Ggp is not a one trick pony for short term investors
Ggp is all about long term assets, it is definitely not for short term thinkers and there are many on this BB. I know in my own mind the assets are worth multiples of the share price.

Just a few highlights of our assets:-

Havieron:-
A multi speed development of a mine with a joint venture with a global mining company.
Gold resources could range eventually to between 12-28m oz plus major copper resources and also major cobalt resources.

Juri jv:-
Paterson Range East:-
Multiple gold / copper targets 12 known at present including the giant Goliath target a 15bn+ tons target that's 30 times more tonnage than Havieron.
Blackhills:-
At least 6 targets including Saddlereef 1400m long gold target one end poking out of the ground suitable for open pit.
Also Parlay a bullseye feature on top of a main fault line.

Panorama:-
A very long Paleo-placer goldfield to the north
To the south a very large cobalt anomaly possibly the largest in Western Australia and possibly Australia.

Scallywag 100% owned:-
At least 12 known targets the majority of which are sat near fault lines.
Underexplored

Rudall :- 100% owned
Bullseye feature underexplored

Ernest Giles:- 100%
2 x 5m oz targets identified plus numerous 1m+ camps of gold deposits
Plus a large nickel target

Bromus 100%:-
A mainly nickel discovery underexplored

Warrentina 100%:-
A 10km north to south licence with 4 goldfields and existing mines.
1m+ gold ounces identified
Ready to be divested.

Firetower:- 100% owned
5 exploration zones
1m+ gold ounces identified
another 1m possible
plus zinc

Tabletop 1&2 licence applied for

When you look at all that short term investment is not what this share is about.
The long term prospects look really promising
Gold 12-28m Havieron
12m+ E.G
1m+ Warrentina
1m+ Firetower

Plus copper plus cobalt plus nickel plus zinc.

This is a big company in the making and I'm certainly going to enjoy the ride

Do I hold,buy or sell?

Copper price end of Oct 2020 $6700 per ton
16 th Jan 2021 $7,700
Today $9,058

Havieron 484m tons mineralised ore at 0.4% copper =1,936,000 tons copper

Oct $12.9bn
Jan $14.9bn
Today $ 17.5bn or $5.25bn to Ggp
That's $175m per year for 30 years

Copper prices are forecasted to rise to their all time high of $11,000
That would make $23bn
or $6.9bn to Ggp
or $230,000,000 per year

If the gold pays for everything what is the copper?

(not included extra depth below 1,000m of ore, or any extensions or the eastern breccias)
If the grades only get to 0.2% at today's price that's $87.5m per year for 30 years

Decision time!
Make your own mind up!

When posters are posting negatives about Scallywag is quite obvious to me they're not researching what they are writing and spread false information fueling the doubts.
Ggp have started exploring Scallywag they have done a serious amount of above ground survey work that they can do before needing to drill.
On the first drills you don't go deep,
one to keep the costs down, restrictions what the drill type can drill through and the knowledge that can be retrieved from a shallow well.
Magma can travel vast distances horizontally and vertically under great pressures and heats.
The heats and pressures change the rocks consistencies, so the further from the source the lower the pressures and temperatures.
That means different mineralisation will form at different distances from the source.
Looking at those 3 drills at Kraken there is arsenic and gold and at Blackbeard there is lower grade gold and no arsenic.
When you look at massive intrusion diagrams gold and arsenic form close to the intrusion than copper and zinc.
Using this sort of information geologists can be directed to where the intrusion may be sited.
From what GH was saying London is pointing towards Teach.
From my lowly knowledge there is something deeper under Kraken, one of the 4 drills we are waiting for was testing where the 2 fault zones meet, so the information from that will be very interesting.

Magic has mentioned before that this looks like a copper/ gold discovery,
remember gold pays for everything and copper is the profit.
Rio Winu mine is mainly copper that has to fund and give the profit.

Havieron from my earlier posts show the value of the copper/ gold
gold at 1g/t at $1824 = $28.4bn
copper at 0.4% =$16.3bn
less costs

We need to find the hot zone at Scallywag to define what we have