Member Info for Bamps21

A chap decided to miss the first Spurs match of the season to come and see me 🤣

Thanks to all that attended the Calver meeting yesterday.

It was a very good venue so thanks as well to Edward for inviting us .

I am just amazed at this Ggp community such nice people and you never know who you will meet.

At the last Stroud meeting a lady turned up who owns a pub in Bristol where my mum used to work about 60 years ago. At Theale a lady turned up who came from Eindhoven. This time a chap turned up from Bristol and we were chatting I found out his mum lived next door but one to me.

What a small world we live in.

Hi Bellers I hope you can make the Stirling meet it’s a great place to visit. Getting the Scots to these meetings seems difficult please contact Strudel or Rotherby if you would like to attend.

There’s so much happening at Telfer at the moment, the quarterly report has loads of positives. It’s taken me sometime to put that together, the Theale meeting I only had one day I only picked out a few things. It’s a shame the company hasn’t come out shouting about these positives that’s the only criticism I have.

Telfer is growing into 3 or 4 mines with easy access to the processing plant, we are not really a one trick pony anymore .

Good luck all we are halfway into this quarter, loads of news to come.

Havieron ore will be on a campaign basis and only 50% of the train will be utilised.

I’m presuming that’s while they are building up stockpiles.

From Aprils reserve report:-

“The Havieron base case demonstrated a compelling multi-decade Havieron mine plan, for:

§ Havieron to operate with a steady state mining throughput rate of 2.8Mtpa and average grade processed of 2.74g/t Au and 0.32% Cu;

§ Havieron ore to be processed through the Telfer processing facility, with utilisation of a single processing train through Telfer's Train 1 circuit at 750t/h, on a campaign basis at approximately 50% utilisation;

§ Havieron to produce on average 221koz Au annually during steady state operations, first 15 years;

§ a steady state operational period of 15 years, total mine life of 20 years, and total processing period of 19 years;”

The green bin works wonders

Hi elcobbledore

You are on a complicated subject of Indicated and inferred material and what material is used in the mine plan.

Go back to the PFS where it states it contains 14mt @3.72g/t and 0.56% cu giving 4.56g/t eq

This is a reserve figure giving a life of mine of 9 years at 2mt pa

The 1.7g/t you are looking at is a combined resource estimate of 131mt that is not the figures used for what will be mined

The 3mt pa plan takes in more inferred which could be unproven breccia or high grade zones that are unproven and can’t be classed as indicated.

It’s what I keep saying less is more.

The sulphides have set boundaries and the tonnage will not increase much apart from extensions downwards which won’t happen till they are in reach of the underground drills.

The sulphides are therefore 4.58g/t eq forget the 1.7 that will/ have changed over time.

To increase to 4.5mt the breccia have to come in to the mix lowering grades but the timeline could be sometime in the future when bulk caving starts.

Until the FS comes out we are not going to know their plans.

To process 2.8mt per year in a 10mt train is 3-4 months processing but it will take a year to stockpile it.

It’s hard for us to know how this will pan it with the integrating of Telfer ore.

Havieron needs regrinding and subsequent refloating.

Telfer ore has to go through pyrite flotation as far as I know .

The sulphides at Havieron are 4g/t when you start increasing tonnages breccia ore is taken into account reducing ore grades.

At Telfer 0.64g/t are in the stockpiles or were.

Open pit ores are lower than underground, one reason could be due to weathering .

Underground ores are mainly higher grades than open pits. Underground is more selective and higher costs, open pits take in more waste ores.

Shaun has stated many times that Havieron is 4g/t

Hi Toby

I never mentioned the West Dome Underground

From the Quarterly results:-

“ the WDU is one of the most exciting discoveries at Telfer for many years “ and they haven’t mentioned the good grades in the stockwork underneath or the reefs above it. There will be high grades coming out for many years

With the Main Dome underground augmented the West Dome open pit ore, the head grade could be 1g/t or over. One train at 10mt could achieve 350,000oz and a high start grade at Havieron could achieve 250,000oz.

To get a head grade of 1g/t or over+ from Telfer at present grades seems like a dream but there are very high grades coming out from the A reefs , LLU, Rey and ESC. Tonnages here will be increasing over time, the latest images show tremendous growth down there. Then there’s the pit ores which at present are quite low and the stockpiles for that matter. Underneath stage 2 and 7 there will be some quite dramatic grade increases with zones above 2 g/t + as these stages progress downwards into the MVR reef.

500koz+ should be achievable given time.

Just a reminder for those attending.

Calver Arms in Calver

From 12 noon

Saturday 16th August

I’ve been finding interesting little snippets while I’ve been putting the images together.

See you there for those attending.

The West Dome Deeps for me is second inline to the ESC, which is far more advanced and needs fairly short infrastructure to get at the ore and is easy to infill drill for grade control.

The WDD position is way behind the ESC. The existing drilling platform can only reach around 30-40% of the known orebody. The second development drive will allow the drills to reach further into the orebody . This should be able then to give a detailed Mine Plan.

There is a new vent shaft required for this development which must be priority on the critical path.

The new development drive was 1/3rd complete as at the quarterly results, it maybe halfway now. I’m expecting it to be complete by end of October and then underground drills to the end of December.

Production infrastructure to be started after a Mine Plan is submitted.

The original production decline was shown going through the stockwork underneath the high grade this may have to be thought through bearing in mind some of those grades were good.

The basis of this next round of drilling is to firstly infill what they can reach of the high grades and then explore the stockwork zone, where huge tonnages maybe viable.

This isn’t a truck operation it will use the hoist.

Congratulations Jet 👏

Next Saturday my presentation will include these extension possibilities I’ve been talking about. I will be mainly talking about these.

At Stirling in September and at Stroud in October I’m going to start looking at Havieron again and hopefully what’s in the next quarterlies.

Hope to see some of you at one of the events planned.

Anyone interested contact Rotherby for Calver or Stirling

Strudel for Stirling

Sure as blazes for Stroud

At the North end of the West Dome pits are pits 10 and 11 in that report of 2019 a conceptual study was done on these pits.

In some of my presentations I’ve just been referring to the MVR reef that goes under both before I had read this study, I think Paddy put me on to it.

Newcrest summarised this as report by saying the drill results showed evidence o mineralisation but it wasn’t on there priority list.

Ggp have reported in there mineral resource estimates of indicated resources.

In the last quarterly results now there are images showing the potential surrounding these pits and underneath both.

Both would increase the capex spend but the prize again is enormous.

Several waste mounds surrounding these and the southern extension to the pit ( which I haven’t mentioned yet today) will have to be remodelled backwards.

The Main Dome open pit Exploration hasn’t started yet so don’t expect the capex to drop too much in FY27, it all depends on the Mine Life of the Stage 7 open works at ore estimate removal including waste could be 10 years plus what’s underneath it.

It could put stage 9 in the Main pit back in time and the exploration drilling.

Stage 9 could be big from what I’ve been reading as Newcrest did these studies between 2016 and 2019 at much lower gold prices. The higher prices could make the cutback far larger.

Besides the cutback there is that study which focuses on the north end of the pit. This is a zone where the MVR reef ends on the Main Dome anticline before it reaches the Leaderhill pit. I’m not expecting the 2 pits to join up but it is a possibility. There’s a lot of low grade stockpiles stored on that zone so they will have to be removed.

It’s another huge zone so large capex sums will be required but the payback will be quick . Could be another 10 years on top of the West Dome pit mine life but that’s only a guesstimate but very likely in my opinion.

Hi Pj

The section through the saddle is showing a white area in the centre with ore Kriging shells shown either side. They need to confirm these grades by infill drilling and also explore that blind spot.

This blind spot I believe is the MVR reef shown in many presentations and sections, it’s not going to suddenly stop and start again.

As the stage 7 stripping gets lower it will be a huge shown picking up pockets of ore as it goes down but when it gets lower it will be excavating a huge area of the MVR reef with grades around 2g/t. This is likely to happen FY27 or 28 depending how quick the strip goes. This strip of this magnitude was not in any documentation it was all potential, so when you here people moaning about the sudden jump in outflows these are very necessary to further growth and will happen in the next 12 months or so.

That is b….y exciting.

West Dome Deeps

Somebody asked a question yesterday “when are we going to find another Havieron”

Well you’ve not been taking notice of my posts. In my presentations I’ve clearly set out what this orebody looks like. It’s a Havieron look alike lying horizontally, the drills haven’t got very deep to know how far this orebody goes down.

We have a SE crescent lookalike not vertical but horizontal for a 700m length so far. There are huge amounts of stockwork trapped underneath this high grade crescent. The last drilling results only found certain sections of this stockwork as they passed through them on to the high grades. This stockwork is the focus of exploration drilling from that drilling platform and they will also be infilling the previous results through the high grades. This is growth drilling. The drills can’t reach the depths or the extent from that platform so the urgency is to accelerate the new decline which will double up as a production decline.

It’s a big orebody close to infrastructure, close to a 6mt per annum hoist, close to an existing underground crusher. What more could you ask for? It’s in a better production timeline than Havieron so capex for this should be considered as a priority.

It’s far better than getting weak ore from others pits and will come on line much sooner.

A new vent shaft will be next on the capex list before any production can start.

Hi Toby

The market can’t complain about the capex increase and moan about the grade reconciliation in the same breath.

There’s 2 types of drilling on the capex the exploration drilling, where drills are looking to extend ore bodies such as the ESC,A reefs etc and then there is the growth drilling. This is the infill drilling to give more confidence on the Kriging estimates to prevent future reconciliation of grades. This is going to happen to all the ore bodies if they don’t want it to happen again.

The saddle between the open pits in the West Dome needs drilling out fairly quickly. There’s a big blind area in the centre it will need continual drilling as the stripping goes lower. There’s big prizes deeper down in both ends of the Stage 7 with that blind spot between them, this looks like the MVR reef (the best reef that Newcrest produced from).

The Aussies don’t seem to like it either way, very short sighted in my view.

How can I be wrong when they’ve just published it. That core looks weak in chalcopyrites and pyrites why do you think they’re having to go to 630m to find anything.

That’s 50% more expensive to drill than Havieron.

Drilling towards the SW is a risk the basement levels drop off like a cliff half way across the licence.