Member Info for Bamps21

Live copper price $3.9730lb
It's getting very close to the $4 mark

Nickel rising $18330 pt up over $200

There's far more chance of a copper mine becoming a Tier 1 mine than a Nickel mine maybe 20 to 1

Hi Paddy
I can't see that on my phone will look later.
The box cut has a shelf running around the 3 sides running from 0 to 11.5m deep at the portal entrance and the second excavation will be 0 to 23m deep total.
The shelf is catch water in the drainage channels.
The box cut is founded on the aquifer rock strata and the water is slightly saline at this point.
Surprised they haven't started the evaporation pond first.
ATB:))

That chart I posted yesterday from BHP presentation 2006 really highlights the importance of Havieron to NCM.
There's numerous charts of gold and copper discoveries and how many can be classed as world class.
These look to be just a handful, the NPV value seems to be the key >$250m.
At 4.2m oz gold equivalent Havieron has already surpassed the Simpson Rule at 3.2m oz au eq.

What people here are not really getting is the scarcity of minerals needed to combat climate change. This scarcity will propel mineral prices higher which can be seen happening with copper and nickel prices.

These price rises effect the cut off levels, this means grades can be lowered where they become economical.
It will effect the MRE values without finding anymore minerals by raising the quantities.
In the MRE cut offs there are sections of the drill hole that are not included because of the gold cut off level is 0.2%, if the copper is high it won't have been included, so if the cut offs are lowered due to price increases there will be a large increase in quantities.
Back to BHP the biggest thing from that presentation to keep in mind is that
"Tier 1 mines just keep on giving"
They start with low estimates and keep finding more and more, look at that chart for the Grasberg mine.

Tier1 mines just keep on giving

Havieron is going to grow into a world class Tier 1 mine

https://www.bhp.com/-/media/bhp/documents/investors/reports/2006/amecconference.pdf?

Hi TmT
We always need you, I really miss your posts.
Good luck don't work too hard :))

https://m.youtube.com/watch?v=PCmloROP9eA
Made me feel young again :))

Well it's Feb 2020 and what do we have.
A share price been languishing at 1.6p has just jumped to 2.7p on Sandeep Biswas Presentation in Canada. Coming out with words like "grades ten times better than Telfer" outstanding for the Paterson Region. "We are progressing this at some speed to start the Decline by end of 2020 together with a resource estimate.
Copper price languishing around $5700
Gold Price below $1,500 ounce
Cobalt Price $27,000 pt

PI's estimates ranging from 3-5m oz
Still open at depth, to the N, to the NW, E and SE

I wonder what we will have in 12 months time in 2021
Sandeep doing another presentation "Best results" to date
Copper price $8,400
Gold $1784
Cobalt $45,700
PI estimates ranging from 12-17m oz plus
gold equivalent of 11m
Still open at depth,SE,E,N,NW and a new zone of breccias.
The Box cut started
A new joint venture with Newcrest.
A new licence called Rudall and another further to the SE

A share price of 22p
Ah these thoughts are what dreams are made of :))))))

Hi Speedy
My friend has an acquaintance with a lady who was John Bonhams girlfriend and Jimmy Capaldi's
ATB:))

Hi Speedy
I don't know if you like 'machine head'
this our lad doing a drum cover
I think he's very good but I would wouldn't I and that's with ear muffs on

https://m.youtube.com/watch?v=L8JHFoSAo1o

Hi speedy
Have you seen the Fleetwood Mac cover band 'Rumours' they are really good
ATB:))

Hi Chester
I missed your question about Lon002.
I've copied a bit from the RNS first

The 2020 Scallywag drill programme was designed to test a series of Induced Polarisation ('IP'), magnetic altered or demagnetised geophysical targets located around the closure and limbs of the Scallywag Syncline, a tight fold structure located to the west of the Havieron discovery. The Syncline folds a package of Puntapunta Formation calc-silicates and overlying Wilki Formation siliciclastic metasediments, with a prominent magnetic anomaly marking the contact between the two units.
The Puntapunta Formation sediments host the Havieron Au-Cu system on the east limb of the Scallywag Syncline.
The London target comprises an IP anomaly located on the edge of an interpreted granite body (gravity low) displaying potential demagnetisation or apparent truncation in the magnetic Wilki Formation sedimentary unit intruding along the magnetic east limb of the Scallywag Syncline. The IP anomaly could represent skarn type mineralisation on or near the edge of the interpreted granite body.

Sulphide concentrations in the hole are not considered sufficient to generate the IP response. The discrete granite sill intersected in the drilling is not considered to have caused the demagnetisation and/or displacement of the magnetic anomaly along the Wilki-Puntapunta contact, and there may be more sills or alteration along this contact that have not been tested by LOD001. A further drill hole is warranted to test for demagnetisation or displacement of the contact.

These 7 drills were drilled to test IP anomalies
Lon001 was drilled to test the one between the Wilki and Puntapunta formation this was found to be a granite sill with quartz and pyrite veining containing silver, copper ,lead & Bismuth ,
this sill was not thought to be the cause of the IP response and there maybe further granite sills that have caused the demagnetised response.
Further drills will be required at 001 to further test this IP response.

Lon002 was drilled to find another IP response probably related to the 001 drill as it's roughly the same depth.

Sills can travel some distances in faults,cracks as highly pressured and hot magma.
This sill on 001 didn't show sulphides in the hole.
GH mentions a lot about the alterations though, which I believe we are in the porphyrittic alteration zone, what they're after is the Potassic alteration zone where the sulphides are, the hot zone.

Look what GH says about the last 4 results:-
·" A more detailed evaluation of drill results will be undertaken on receipt of all analytical data from the 2020 field season and targets will be further assessed and ranked for drill testing."

I hope I've answered your question
ATB:))

Hi Jet
They were more worried about their risk assessment than my bruised pride :))
I could hear the kid muttering 'silly old git' :))
It could only happen to me but I don't care you can only laugh :))
Watch those chairs though they move

Hi Viking, Jet
I had my jab yesterday, I'm fine no problems except I fell over a chair:))

Surgeries around Worcester are only doing at risk people, I had to travel to south Worcester the next one was in Boots Gloucester and then an Islamic centre south Birmingham.
If you get the local surgery you've done well
ATB:))

If you're having a wobble on the price of gold then take a look at this BHP chart on global mining discoveries.
https://www.bhp.com/-/media/bhp/documents/investors/reports/2006/amecconference.pdf?

You can see for yourself that investment in new mines has decreased dramatically since 2000

Hi Droverman
That is part of the climate change problem is manufacturing processes producing too much CO2.
Look at Trinidad one of the worlds global emitters of CO2 through their large scale ammonia plants where hydrogen is obtained from natural gas and oil, then mixed with processed nitrogen. They are starting to pump it down old oil wells.
If they used green hydrogen from renewables then there is no CO2 to deal with.
Green hydrogen can be made at filling stations there would be no need to transport it.
ATB:))

Hi WF
I have to agree with some of your reasonings, one of my posts recently covered what China is doing, they have plans to convert all their cars to EV by 2030. That's 25m cars at 183lbs of copper, scrap copper only covers 2.5m.
There are roughly the same number of cars in the USA.
So 22.5m x 183lb = 4.2bn lb or about 2m tons
That would take most of the global supply during that period without the USA or charging points or 3 phase power supply or phone chargers plus anything else with copper.
The reasoning that cars will all be electric is not sustainable
The only answer is better batteries and hydrogen.
Great presentation on IKA website including a Berenberg piece.
The hydrogen vehicle charges the battery during use and plug it in at home to charge the house storage batteries
at night, now that's the future
ATB:))

Strategy
This is my opinion of a long term strategy for sustaining transport
Now to 2030 the demise of petrol cars and wagons.
2025 -2035 electric car rise and demise
2025- onwards hydrogen transport

Nuclear power is too slow to bring to fruition
Technology for batteries is progressing in leaps and bounds but restricted with mineral availability
Electric cars lack of copper will cut its growth
Hydrogen tech is progressing so fast
latest a German company has developed a solid paste hydrogen pack , just go to garage and swap it over.
Hydrogen will be used everywhere in the next few years.

Nuclear is an old tech and dangerous and should be stopped
If you're looking somewhere to invest look at hydrogen for the future but stick to mineral shortages short to middle term

I posted this a few days ago
With the price of copper rising it effects the MRE calcs where they used $3.60/lb it is now $3.93/lb

Bamps21
Posted in: GGP
Posts: 3,694
Price: 21.75
Strong Buy
Strategy16 Feb 2021 09:50
Do I hold,buy or sell?

Copper price end of Oct 2020 $6700 per ton
16 th Jan 2021 $7,700
Today $8416

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

Oct $12.9bn
Jan $14.9bn
Today $ 16.3bn or $4.9bn to Ggp
That's $162m 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 $80m per year for 30 years

Decision time!
Make your own mind up!

The Scallywag licence was owned by normandy exploration ltd until they were a target of a bidding war between Anglogold and Newmont which Newmont won.
Newmont Australia was turned into Newcrest.
Normandy was Australia's biggest gold miner, they drilled 64 aircore holes around the north end of Scallywag in a grid system many look as though they failed to hit the centres of any targets shown up on the latest Aeromagnetic survey.
These 64 holes being cheap aircore did not drill very deep around 40 to 80m deep all vertically.
Newcrest drilled a further 20 holes some aircore and rotary plus 3 Diamond drill and these are the only ones recorded.
The coordinates are there I've not checked to see where those 3 were located but they didn't go very deep.

Whether this is a shallow area I'm not sure but judging by the south end of Saddlereef these drills may not be deep enough

I'm finding it hard to believe NCM are buying Ggp stock at the moment.
They're existing mine stock at the moment is costing them money.
When you look at Cadia their forecasts for production are going downwards till 2025 when new production comes on stream . They're building additional production fascilities to cater for this. They've spent a lot on exploration for additional material.

Lihir they have an issue with tailings contaminated that can't be let on to the sea bed through a discharge pipe and having to put this material to one side while deciding what to do with it.

The other mine in PNG still hasn't got mining permissions.

Telfer is down to its last 2-3 years of life

Havieron costs for exploration and infrastructure

Red Chris costs for exploration and infrastructure upgrades

Then there's Fruta Del Norte costs

They have already gained a lot of Havieron for relatively little cost and they have gained a lot ground on the Juri jv for little cost and effort.

These are all big costs, production has slipped supported by higher mineral prices.

I would have thought buying Ggp shares is not on the agenda at the moment.

I don't filter many posters but Mr wiseabout I think you should apologise to Mr Bronson that was not a nice post. You've blown that out of context