Member Info for Bamps21

Cheers Paddy
Only got to page 27
Wow
Box cut plan , decline layout, Pond water layout, road layout.
Timeline graph really tells a story
From the start of the decline only have approvals to get to the ore body 420m for now.
Ponds needed for dewatering the Box cut
Ventilation shafts due to start in 6 months with increase in water extraction, deeper excavation to start in 12 months and further dewatering.
Pond positioned in the central west area.
Landfill, irrigation pond and camp to the NW corner. So Apollo target can't be oversailing the boundary.
Explosive magazine in the North central bit.

There's a lot to take in
Next year is going to get exciting for the Paddysat :)))

Hand held XRF machines are used on site for elemental analysis.
They send X rays into the samples that activate electrons in the atoms of the elements and fluoresce which the machine can read and mathematically gives the results for parts per million or %.

They can't read elements higher than Magnesium which is atomic No12, so atomic numbers 1-11 a different analysis is required, hydrogen is no 1 also oxygen,nitrogen and helium
It can read down to the heaviest metal Uranium No 92.

On the Periodic Table Magnesium Mg reading down from the top is in Row 3 and from left to right is in Group 2.
What do these represent:-
Group 2 means in the atom there is the nuclei and the electrons are contained in rings or shells around the nuclei, so Group 2 has 2 electrons in the outer shell and Row 3 means there are 3 shells.

Copper Cu No 29
Gold Au No 79
Copper and Gold are both in group 11, that means they both have 11 electrons in the outer shell
Cu is in Row 4 so has 4 Shells
Au is in Row 6 so has 6 Shells

There is another instrument called an XRD
can be portable but mainly lab use it's main target element is Cobalt and secondary copper
Cobalt No 27 Row4 Group 9.

Also there is a machine for analylis of gold purity to determine the quality of gold and silver called a GoldXdetector.

All these devices give practically instant results and fairly reliable.

They don't give readings for elements 93-118 mainly actinoids

Hi Offerman,Ross
I've never liked investing offshore although I dipped my toe in BPC years ago and couldn't see how a small company could afford to do it, I got out about 7 years ago.
The risk to me is not in the drilling it's the future costs of getting it out, I can see the Xmas tree being on the sea bed for years to come. If you look at production vessels the costs are horrendous, take more than one well to cover that cost.
Anyway I'm not deramping I didn't want to know so got out.
Still very interested in the SWP , I keep seeing all these big numbers flying around , BPC could have had a big field going at Saffron with that, earning income.
I hope you all do very well here and wish you all a good Xmas
Bamps:))

Hi WF, Hydrogen
They could use wire mesh cubes or Gabions , I've used them in the past they take a long time to fill by hand, if you use a machine there will be too many voids.
Gabions need substantial footings or concrete base.
This wall though maybe there for 40 years + so I would expect something substantial. The last thing anyone wants is movement around the entrance it would delay production.
There are plenty of concrete structures in hot climates, it's all about how the concrete is cured in the first 28 days.
I would imagine the box cut floor will be concreted upto the entrance as well
ATB:))

Hi Hydrogen
It all depends how they design the supporting wall and whether it needs piling.
My thinking is a week for piling
Excavate base 1 -2 days
Pile cut offs 2-3 days
Reinforcements to base 2-3 days
concrete 1 day
2-3 days reinforcement to walls
4-5 days shuttering 1st lift about 3 m
Concrete 1 day + curing time
Strip shutters
Backfill
I doubt if it will rise 23m maybe 2 lifts to protect entrance.

Another method is to drill and pin and spray concrete to the vertical

I would expect at least 8 weeks after excavation but they may have a quicker method but it will need to be substantial it will be there a very long time
ATB:))

Thanks Paddy
So the box cut is going to be 23m deep and 60,000 tons to be excavated
Supporting walls to the portal entrance before the Decline commences
ATB:))

Hi Obadhia,Chesh
I sold my Cerp shares and bought Ggp at 14p which looked high then, I've made quite a bit fortunately:))
It also helped Peter out, he still about and sends me e mails occasionally.
I might have a dabble on the SWP play but not yet with P1 risk.
Wishing you all a great Xmas
Bamps:))

Hi Sojourner
I've only seen the Truscan handheld system referred to in The RNS Appendix but it's not used for the core mineralisation rather than for downhole data. It's a Boatlongyear system same as the core scanning XRF equipment.
I've no idea if NCM assisted Ggp with the cores maybe, but perhaps they would want to keep aces up their sleeves before any negotiation on a jv.
ATB:))

Hi Obadhia, Offerman
Just had a look at the Trinidad Update looks promising.
I still believe the biggest target is to the east of Granville Beach before you get to the fault line. I don't think the diapism problems effect that area, I hope they know how to get over it now at Saffron.
Wish you all the best I've recovered all my losses on Cerp 3 fold so very happy and thanks BPC for making me sell.
I'm still not convinced though the risk in the Bahamas is worth it.
I'm still convinced the South west peninsula will make a lot of money eventually.
Good luck with it
Bamps:))

That came out wrong Truscan not Tristan :))

Hi Sojourner
You've confused me.
The scanner is in a unit not handheld.
There is another device that is handheld called Tristan which collects data from the down hole tools and sends it too the data banks
ATB:))

Hi Kempey
I believe Ggp will be a junior partner for sometime, I can't see Ggp mining Scallywag it's too big for a company of this size. If they just hold on to it and keep 100% Scallywag will stagnate.
NCM have right of first refusal on Scallywag it's obvious they will joint venture it.
We need experienced people to look after our 25-30%.
2021 looks like it's going to be a stunning year for Ggp we need appropriate people in place
ATB:))

Hi Kempey
No I can't see NCM having any involvement, this appointment would have been in discussion for some time.
The formation of the committee for Havieron would have been the catalyst, Ggp need at least 2 experienced large project miners on that committee. It's something they just don't have at the moment.
This is just a natural progression for the company
ATB:))

Hi BtB
I've got PHE too starting to move, Itm flying doubled in a fortnight.
Best year I've ever had in 40 years of investing in shares.
Next year could be better:))))

Hi Tom
No good quoting figures at this prout he still thinks it's a rectangle:))

I would have thought most people on here realise my calculations are possibles and will take years in production to get all that gold out of the ground.
I haven't the relative figures to be able to provide a Net Asset Value per share based on 40 years inflation.
What I do know is in the years to come Gold finds will become smaller, the norm will be 1m oz or less. The Havieron find might never be repeated, gold will become rarer and more expensive. At $1,400 an ounce should leave enough headroom for $500+ AISC.
Experts are forecasting $5,000-10,000 an ounce in the next few years , copper is shortly to reach it's all time highs and become rarer.
Globally we need 2 copper mines every year of 500,000tons pa to meet demand, that isn't happening.
Mines with a Tier 1 gold asset and a tier 1 copper asset are not coming on the market.
Other mineral values in the ore will not be known until after the electrolysis process which may contribute to the overall value of Havieron.
The NAV value will increase accordingly

Hi Knocky
Minor detail when you add on 10p for the other assets based on the brokers assessment:)))

Initial MRE = 4.2m oz aueq
Ggp share @30% = 1.4m
Net smelter return shells used $1,400 per oz or £1,030

1.4m x £1,030 = £0.36p
Share price 2-3p undervalued on the Initial MRE

A 19.55m oz au eq hedged price of $1,400 would give a 30% share at $2.05 =£1.51

Initial MRE 4.2m oz au eq x $250 in ground divided x 4bn shares = $0.2625= £0.21 divided 30% = c7p

176,000 sq m x 1000m deep x 2.75sg x 0.75g/t =11.672m oz
AuEq= Au oz +1.65%Cu
AuEQ= 11.672 + 7.986 = 19.558m oz au eq
x $250 = $1.23 = £ 0.91p = c36p gold in ground price
Undervalued I don't think so, Does NCM sell their gold at in the ground prices of course they don't .