Member Info for Bamps21

Hi Mark
To retrieve core drills from 2,000m is technically challenging, they have been advertising for experienced drillers.
The 2,000m is at an angle so true vertical depth is around the 1400m.
They could test the depth with a vertical drill but the costs start ramping up with bigger rigs and drilling fluids, I'm thinking of 2,000 -3,000m range.
It would be easier and cheaper to wait for the Decline with better cores coming out
ATB:))

I believe the days have gone when Ggp were classed as an exploration company.
This is the first thing you see on the web site

"The principal activity of Greatland Gold plc is to explore for and develop natural resources, with a focus on gold. "

Havieron has changed the aims of the company in less than 12 months.

Regarding the geophysics of Havieron on the web site it looks to me to be out of date

"New 3D gravity and magnetic models indicate potential for mineralisation at Havieron to extend from approximately 400m below surface to depths in excess of 1,200 metres below surface
Modelling of gravity data outlines a large irregular shaped body, some 300m across, from approximately 400m below surface (top of basement) to 1,200m below surface with an overall subvertical attitude
Modelling of magnetic data defines a single, discrete, high amplitude elliptical shaped body that is steeply dipping (subvertical) toward the south east with a depth extent from around 800m below surface to approximately 1,400m below surface, but the body may continue beyond 1,400m as this is the current limit of data resolution"

This is probably the Depths that the brokers have used to get their low figures.
That's 800m in depth mineralisation.
The surveys are restricted to around 1400m below surface and the latest drilling is indicating 1100m of mineralisation as mentioned in the latest RNS. The drilling logs look as though this depth will be exceeded but we may not find out till they drill deeper from the Decline

Hi Maninpink
How you getting on.
Can I ask which site in Worcester is being extended
ATB:))

This is my take on the Scallywag situation.
It's a very big area, the MMI survey is very patchy, hardly any drilling until recently, only a small area of AEM undertaken.

When you look at the Juri Joint Venture, Blackhills has been described as an advanced project especially Saddlereef.
Paterson Range East has been splattered with Geophysics and geochemical surveys and some AEM and some drilling.

In my opinion Scallywag wasn't ready for any joint venture.

Discussions with NCM couldn't include Scallywag and has been left on hold.
After listening to GH a few times, when he mentions Scallywag, he also mentions Rudall, I can see these 2 being linked together in the next jv. This probably won't happen until Rudall is surveyed.

Just watched a video of a Kenworth C510 road train 1000hp
It can carry 300 ton of coal but off road.
It's got 5 trailers, each trailer can be loaded in 3 minutes from a silo.
The video is in a Queensland mine.
Queensland have stricter laws on road trains only B doubles can use the road. The B indicates a fifth wheel, the double indicates 2 trailers .
B triples are the normal road trains
Max weight they can carry on Australian roads is 136t
Volvo Fh16 can carry 120tons

The road from Telfer to Havieron will presumably be private so a Kenworth 5 trailer could be used but the road surface will have to be good as they have a small wheel base.
A second hand one of these is not cheap a 2010 model truck only is A$80,000+

I think the negotiations between NCM/Ggp may have been tougher than expected.
That said I mentioned some months ago that a joint venture with Newcrest was the best way forward for Ggp to grow , at the time I mentioned using the 25% of Havieron and for NCM to drill Kraken and Goliath it was worth $25m .
Now the situation has totally changed with that 25% worth a Billion or so.
I said then I would prefer 25% of a working asset rather than 100% of a desert.
Needless to say I got shot down from some who couldn't see the wood from the trees and now it's still happening.

There is no way Ggp will be able to take a licence through the proving stage to a mining lease, financial institutions would not provide the fundings.
The Juri Joint Venture has lifted these assets up a notch.
NCM will be funding 75% of the costs of all the drilling if the jv is successful. These could be substantial possibly over $1bn for the other 10 targets on PRE without Goliath.
Forget about making $250m without this deal, this is about making far more than that.
Chill out and enjoy the ride it's totally derisked in my opinion

Hi TmT
I would like to offer you my support, it's been a pleasure knowing you and hope you will be able to come back soon.
Good Luck

Hi 944T
If it the decision was mine I would start digging at Blackhills Saddlereef.
The anomaly is poking out the ground whether the grades are high enough for Telfer I don't know.
Would be very quick income stream, I'm expecting something to happen on it next year.
Kraken could end up being a deep block caving exercise even though there is less cover, it's going to take time.
ATB:))

Hi 944T
I believe the planned road goes between Kraken and Blackbeard they are a lot closer to Telfer.

Lot of negative posters at the moment one just made me spill my tea with such rubbish

ATB:))

The prize at Goliath could be mind blowing if we can keep this 25%
14,900,000,000 t
at a commercial rate of 0.2g/t
would yield over 90m oz

I'm not saying it would reach that figure but if the grades went to say 1g/t
Mind blowing even 25% is staggeringly staggering

I hope people start seeing some sense this is brilliant news, savour the moment.

Looks like too many people here are looking too short term.

Paterson Range East has identified 11 high priority targets, leaving out Goliath for a minute you're looking at 10 roughly the same size as Havieron or bigger.
$100m exploration drilling at Havieron would be over $1,000,000,000 in drilling costs. No way could Ggp cope with one of those.

Now look at Goliath 28x bigger than Havieron in volume
they've announced $3m for exploration this coming year that won't tickle the surface.
There's no way the amount of rock coming out of Goliath and Outamind will be transported to Telfer there's too much,
I can see a future plant being constructed.

As GH has stated several times that having Telfer/NCM the future Capex will be very low for Havieron.

Scallywag will come in on another jv but will be linked with Rudall.
Kraken is over twice as big as Havieron so you could be looking over $200m to survey and drill it including site accommodations, infrastructure.

Ggp haven't the means yet of progressing any licence, so talk of going alone is not possible in my view.
NCM still have big costs at Telfer lifting the tailings dams, and other spoil fascilities which they are not involved with.

Hi Rubic
Goliath anomaly is enormous and so will the first pass drilling costs.
To have 25% of an enormous project with a major is far better than 100% of a licence we can't afford to explore

ATB:))

Ggp gradually turning from a junior exploration company into a junior/mid cap Development/mining company .
The Havieron jv secures Ggp position into the production phase.
That's a massive leap forward.
First production from a stoping operation off the Decline will be from the High Grade Zone. That's more minerals from less tonnage = less time to pay back loan = quicker time to profits.

Bring on 2021 :))

I feel that Kraken has come up trumps and a separate better deal is needed.
Saddlereef is open at surface get the diggers in tomorrow GH.
Oh alright get the Mining Lease first.
Remember the drills there recorded gold, and large gold nuggets lying on the ground caused real excitement was it just only a year ago oh wow
Is this where are loan will be repaid from production at Saddlereef before any ore comes out of Havieron, it's a great probability.

I think Scallywag is a separate issue to this Juri joint venture .
The results are still not back, I doubt it will be tomorrow . Scallywag will be added in to the jv later maybe with a separate deal, again remember Scallywag 4 targets plus Blackhills South cover a massive area it's going to cost a lot for the exploration drilling.
When you look at that map they just put up you can see how big Scallywag is.

The deal doesn't look as good as the Havieron jv but you have to remember Blackhills Saddlereef is at surface it can be an open pit very quickly and Goliath is so big it's going to cost 100s of millions to drill test it.
I feel we are under the wing of NCM they are guiding us through this, both are going into production together and NCM are helping with our funding.

Upto $40m can be paid back from production, the other $10m maybe used to offset the 5% purchase.
Greatland are in charge of first 12 months of exploration, then NCM have right to take over. Going to drill test Goliath,Outamind and Parlay and explore for more targets.
Here's to the Juri Joint Venture

Super Super

I'm of the belief from what I'm reading that there are not many investors/funds really know what Ggp/Ncm have found, and I think that goes for 75% of this board.
Since 2002 the number of Tier 1 assets that have been found is minuscule and a find of a Tier 1 asset with high gold and copper content is even rarer.
You can look all you want around Australia you will find it difficult to compare any other mine with what is at Havieron. The big mines are having to expand their resources or go deeper it's getting more difficult for them.
The nearest I can find with great potential is De Vere but they are having to fund their own processing plant.
Havieron is compact , the grades are super rare, it can be bulk mined, it keeps on getting bigger.
The speed at what is happening is absolutely mind blowing.
Hydrogen says the writings on the wall, the big guys are starting to see it.
This is just a super super share with fantastic assets to come.

Hi Goldenl
If you look back at my post this morning I broke my calculations down and you can see the figures are for 30%.
For gold I worked out in the ground and retail values, to do that with copper and cobalt is more complex so I've just worked on retail values

Hi Andy
I took those 3 metals as being all separate so adding altogether would get to your figure and this is the 30%.
The figures though are retail figures
Telfer /NCM have hedged prices lower than these so that they are guaranteed .
Sore bars of gold about 25kg are sent to Perth. From there they will take out any iron/silver left in the gold and other impurities. They will then issue credits /debits to NCM.
Copper concentrate powder is sent to SE Asia. There are prices for concentrate I don't know whether NCM get paid for the powder or the finished product, but what I can find out the smelters break even cost is about $65 and then give the produces credits for the copper,gold,cobalt,iron and debits for arsenic.
Copper has 2 finished articles anode and the refined cathode
This is where the retail prices are.

An in the ground sale price would normally include a copper equivalent or gold equivalent . Which is gold +75% of the copper or vice versa.

What i've done with those figures is too show what the benefits are for a sale or to mine it is not necessarily what we will end up with if that makes sense