RE: Bristol Meet28 Sep 2025 08:30
12 months ago we still didn’t have that Admissions document with the SRK report, within this document were details of the Mine Plan for Telfer. This mine plan had 15 months of processing but only 12 months of mining activities. Each zone was broken down into how long and what it contains.
Stage 8 and 2 in the West pit had 3 to 4 months left, stage 7 about the same, so when you look at where we are now 10 months in they should have been depleted. We are in a transition period from the SRK report through the expansive drilling campaign and it’s just about keeping the pit working. What they have found is lower down, so there is sustaining capex to be spent to keep it going. The benefits of this will come in the next 8 months , a gradual ramp up of production ore.
The underground mine would have depleted by the end of the year, so again we’ve had a period of an expansive drilling campaign to identify new opportunities and these are bearing some really high grade results. The M reefs in the upper levels were taken out of the MRE by Newmont will be included next March in Ggp’s report as the ESC.
The A reefs in the lower mine are finding phenomenal grades and still expanding. Other areas are still expanding with good grades ie Rey and LLU.
The lower grade VSC looks to be on hold while other higher grade areas are exploited.
The exciting West Dome Deeps is progressing very fast with a new access drive intending to get to the ore body. Described as seeing the highest grades for 20 years at Telfer and infill drilling will give a reserve update in the June quarter.
From last Septembers mine plan we have nearly exhausted those resources and processing the stockpiles which is happening. The next phase is to bring in ore from Ggp’s expansion programme and that is just about happening now.
Of course the forecast was lower it was bound to happen, but the reversal is happening now with full scale production going to ramp up in all zones in the next 2 years.
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