Member Info for Bamps21

Hi Tom
I'm sad I was trying to count them and fell asleep:)))
That's not like my trusted barrow, rust coloured and full of holes :))

Hi Urbanracer, Transitman
I only used a 1,000t per train to project the shear size of the task at hand.
The manganese train in South Africa carried 23,652t in 7km long train to go 631km.
We're looking at a length of 45km so a train that length would be too long in my opinion .
We discussed conveyors the other week, I'm not sure of the logistics when there is arsenic ore involved especially when crushed and there are dust issues.

At cadia they have just built a new plant just to deal with Molybdenum from the copper concentrate it is then pumped to a dewatering plant and then onto trains for export.

They need to sort out the waste rock before it leaves Havieron or will have to eventually.
To reduce the waste rock it needs to go through the different sizes of ball mills ,then the sorter and possible cyanide circuit.
Less tonnage then to ship to Telfer.

Hi Lenz
I don't think I am getting ahead of myself if you just take Havieron on it's own, earlier in the year Paddy worked a tonnage of around 500m but now we have the Eastern,northern, north west crescent and still open at depth, better grades in the sulphide zone.
This all could be heading for 800m tons, that's 40 years at Telfers present rate.
The issue of getting it to Telfer is still the same figures
804 road train trips per day every day
55 train journeys per day.

The effect of large finds at Scallywag etc only compounds the logistics.

Looking at it from a different angle, a tier 1 asset needs to produce around 300k oz
that's roughly 6.5m tons at 1.5g/t.
This would take approximately 120 years to deplete.
I don't believe any mining company would not exploit it quicker

ATB:))

What will happen with Telfer if a Jv with Newcrest goes ahead on Scallywag and Blackhills.
Telfer can take 20m tons of ore per year.
Havieron has say 500m tons
Saddlereef has say 300m tons
Kraken has say 1,000m tons
blackbeard has say 1,000m tons
London ?
Barbossa?
Parlay?
Northern?
Rogers?
Blackhills South?

How will this all get to Telfer?
A road train in Australia can only carry a maximum of 136 tons possibly 2 trips per day.
To get 20m tons to Telfer per year would be 402 road trains everyday , doing 2 journeys per day.

If you look at rail freight if we say one journey would take 1,000 tons that's 20,000 trains per year or 55 trains per day.

This is a logistical headache.

Sometime in the future I can see another processing plant being required. I know NCM are talking about expanding Telfer to 25m per year but that still wouldn't cope

What a fantastic logistic headache to have.

Why would you stick your money elsewhere when this is about to happen.

I'm not keen on mergers but Ggp will be in a position of strength at the moment .

The shear enormity of this project is mind blowing.
Remember Tier1s make mighty mining companies:)))))

Hi BTB
In Ggp's last RNS they stated they had relinquished the Empress licence but doesn't mention Wishbone or Carnegie.
Empress didn't look convincing.

I'm presuming the name is a just a coincidence the 3 licences they are referring to are by Rumbles licence and not near Ernest Giles.
I wouldn't have thought it was anything to get excited about very early days from what I could make out
ATB:))

Hi Strummer, Tmt
I bought into Sxx very early before the planning permissions but got out when I realised it was too big a project for a small company. I made a little profit.
My friend however bought a lot in the mid 20s and I tried to convince him to get out but failed. Not knowing when to sell is a problem.
I was also not convinced of the market for potash was that good.
I also learnt from the Cerp/BPC merger not to try to convince people that it was a risky move, people jumped on me from all over the place , well good luck to them.

I'm personally still very optimistic about finding another Tier 1 asset whether it's at Scallywag or PRE.
GH and CB seem so convinced we have more on our licences, whether Kraken, London and Blackbeard will form one together maybe but it's going to be a big ask as globally they are like the holy grail.

Cerp went quiet for months and then that merger happened what a let down.
I don't believe GH will let his shareholders down but I don't know whether a possible merger with NCM would be a good thing and that is the only negative I can see coming from this silence but that's only my opinion
ATB:))

Hi Jerseycrew
The thing with Blackhills it's an advanced project, the main target Saddlereef as far as Ggp goes has been drilled and surveyed. Gold has been found at surface, it's ready for open mining, it's ready to feed Telfer.
Parlay is not ready , the new AEM survey would have been it's first survey. It's partially sat on Newcrest/Antipa land.

This is all building up for a great joint venture opportunity for both Ggp and Newcrest with the bonus of Scallywag in the middle.

ATB:))

Hi Tom
Just something to think about
111,000m of drilling and the smallest core bit they use is an NQ2 or 3"
That's 50,000 cubic metres or 150,000t
or 7,100 ounces
Half is in storage and the other half went to the lab @$1,500 per ounce that's over $5m in the lab

Just a bit of fun have a good weekend :)))

Don't forget the copper
0.3m with 637g/t Au + 0.35% copper
that's nearly 2m tons.

At 0.4% average this could be as big a copper find as Winu or larger.

Hi Peter
The sections unreported could still have gold grades within them.
When this is bulk mined it will all go through the crusher and sorter, so yes there could be more ounces.
When the MRE is produced an average grade should be available which will take these sections into account.
ATB:))

Hi Stuart
The drilling logs only report the sections where the weighted averages exceed the cut off values
Some sections may not be included if the average weighting is not met, even though there is a section within the length maybe high but the minimal length with low grades is exceeded.
I hope that's clear
:)))

Hi Stuart

If you look near the end of the Report and find Data Aggregation Method it describes the cut offs . It's a method of defining grades.
It's all to do with the formula (Au x ppm x length)
If the grades are high but length is short it might not reach the cut off value
ATB:))

Hi Stuart
You've been busy.
If you look near the end of the Report and find Data Aggregation Method it describes the cut offs . It's a method of defining grades.
ATB:))

Hi Tmt
I'm of the opinion the RC drilling couldn't get through hard rock layers probably quartz.
That's probably the reason for acquiring the Diamond Drill Rig . Progress would have been slow.
If the ore body is as big as I think it is they may have used a downhole logging tool maybe a Sonic Wave device to broaden their knowledge and produce deeper 3D images. Only my opinion but seems logical.
This information may still have them forming a model with the AEM survey and together with delays in the assay labs is causing the delay.
If it's quartz that will be great news for the gold quantities, if it's iron will still be good news as it could be an IOCG (iron oxide copper gold ) deposit

Still enjoying the conspiracy theories though.
ATB:))

Hi Nige
In my opinion no major is going to want to make the first move. I'm hoping Ggp can hold on and prove up Kraken and Goliath with or without Newcrest's help.
If they both contain good grades the shear size of the them could make Havieron look minuscule.
The coincidence at Goliath of the magnetic and gravity surveys looks extraordinary.
Any announcement of good grades at Kraken will wipe us out , without finding goliaths secrets.

Again look what that guy said from Freeport after selling 56% of a Tier 1 asset

"Their status within the global mining scene makes them the crown jewels of the mining sector – very difficult to shake loose. On an exploration front, they are akin to the Holy Grail of ore deposits.

Yet even now, for those companies desperate to raise funds and in severe financial difficulty, selling these special assets is not an option despite the ease with which they could offload them owing to the abundance of potential suitors waiting to pounce.

It is not only management teams reluctant to let them go, but also shareholders, who recognise their deeper value and have in the past proven to be a massive barrier in closing any deals."

Do I want the Kraken news YES
Do I want the investment highlight of my investment career to end NO.

Ok I'm going back to jumping up and down Yippee:))))))))

Standing back and reading this board I quite honestly see most on here don't really know how big this Havieron asset is in reality.
I post again a quote from the CEO of Freeport on Tier 1 assets
"Assets so rich, they stand apart from others, able to destabilise economies, disrupt the overall demand-supply balance and be the springboard for building mighty mining companies."

This is huge, a once in a lifetime,probably never repeated.
GH knows it
CB knows it
Newcrest knows it
and probably all the other majors know it.
I am very excited by it

Yippee:)))))))

Hi thelearner
I'm more aware of downhole equipment used for oil exploration but Schlumberger equipment are used for both . On their website there are a lot of case studies using there equipment.
Sonic wave equipment can give high resolution images of the geophysics.
3 items I know of are 3D vertical seismic profiling VSP technology, 4D VSP and DAS
Distributed Acoustic Sensing.
I believe they are designed to go inside the drill string. too expensive to lose, like when LGO oil got theirs stuck £1.5m cost and no insurance.
Another company with these tools is Sercel they do a good range of devices.

If the drilling looks as though it's taking time it could be they will be gathering some sort of data with one of these tools especially at Havieron where they will be gathering more info especially at depth.

Another quote from Adkerson
"Their status within the global mining scene makes them the crown jewels of the mining sector – very difficult to shake loose. On an exploration front, they are akin to the Holy Grail of ore deposits.

Yet even now, for those companies desperate to raise funds and in severe financial difficulty, selling these special assets is not an option despite the ease with which they could offload them owing to the abundance of potential suitors waiting to pounce.

It is not only management teams reluctant to let them go, but also shareholders, who recognise their deeper value and have in the past proven to be a massive barrier in closing any deals."

My hopes for Havieron becoming a Tier 1 asset have always been very high but there is a but and that is Telfer.
NCM will not want Telfer to lose it's Tier 1 status, Havieron needs the Telfer infrastructure .
These 2 will be combined into a Tier 1 asset like Barrack have done with 2 of theirs

The difference between a Tier 1 ore body and an asset .
A Tier 1 ore body has the potential to become a Tier 1 asset.
A Tier 1 asset has the ability to earn a large revenue over a long space of time.
Important factors are an end market for the product, it's position relative to infrastructure i.e. roads,rail,electricity,gas and water. The AISC is also a factor.

The CEO of Freeport, said in 2016 after selling a 56% stake in a tier 1 asset in the Congo
This deal is unique because, as you can tell from Adkerson’s feelings on the sale, it is the disposal of a high-quality long-life asset from within one of the major mining companies.

"Assets like these don’t go on sale very often and new ones seem to be less and less common as time goes on.

They are the ‘tier ones’ of this world. Assets so rich, they stand apart from others, able to destabilise economies, disrupt the overall demand-supply balance and be the springboard for building mighty mining companies."