Last few years they’ve been drilling all over the place but found nothing of significance.
The Newcrest geo chap did a presentation I think last year not certain but he said they were reevaluating what they learned from Havieron to go back over their data. I’m not sure how that progressed but they were certainly drilling down by Ironclad which is very close to Pascalle and Westin.
There’s targets all around I should think some will be surrendered.
The deep sensing magnetic survey I presume is what he was referring to. This was the tool they used on Havieron which later confirmed the deep magnetic anomaly. It also found the deep magnetic anomaly under the London target, so should be very beneficial back at Goliath and I believe they have used it at the 2 Tabletop targets.
Hi Barna
I think they are bundled up into the new EPA revision sent for approval last November.
This covers Telfer and Havieron. I would imagine extensions will be granted. I’m not sure though whether there’s any portions that will have to be surrendered
Hi Speedy
You will have to ask the company that one.
Pre the plan in the MMRE i think Ggp share was around $90m but when the stoping plan came out at PFS stage I think our share went to $127m
This was to include all infrastructure on surface and the development decline. That’s what confused me as the stoping is in the production phase so whether that figure takes us down to the first production level I’m unsure.
The total capex was around $450m but that includes the stoping costs, without stoping it was around $300m. There must be still $200m to get to production but that’s a guesstimate .
Newcrest accounts somewhere showed a figure for total spend including the drilling so far.
( I’m not sure whether it’s US$ or Aus $ without looking)
Also not sure whether that included drilling and FS funding
Fortescue have licences surrounding Telfer with a joint venture with Carawine so would fit with a Ggp buy of Telfer.
To me IGO are the dark horse they have jv all over the place and have an undrawn debt fascility of A$720m. Struggling a bit with weak nickel prices at the moment.
Hi Rotherby
Yes that seems cheap but these big companies will let smaller companies grow and then they come back and buy it with shares after letting the smaller guys do all the work. Rio will do the same.
Most of the Capex cost is behind us but still a bit to go.
500+m of Decline to the base of the cover and aquifer , plus the ventilation drive following it.
A vent hole from the surface to the Western front + fan unit
About 500m Decline from top of ore to first stoping level
500m of drives and stope tunnels for production
Air raise and return from Western front to surface.
Once production starts capex will be no issue as forward work all paid for by revenues
“Today’s result “ where’s this sprung from.
Duster that’s a bad tone of phrase.
Scallywag cannot be quoted as a duster they’re looking for the source of the proximal anomalies.
The latest drill holes and surveys are pointing at deeper targets under the London anomaly , they’ve been testing the shallower anomalies/ conductors knocking them off one by one.
This is a very measured and economically minded campaign on a large licence.
What could Telfer valuation be:-
Newmont want $3.05 of synergies and sells
$500m from Lihir and Cadia
$500 other synergies and bulk caving skill sets , probably Newcrest patent on caving
$2bn of sells
https://www.ggpchat.co.uk/viewtopic.php?t=722
Post on 21st May 2023 shows the NPV “bubbles” of each of the combined assets.
There are 6 mines and 2 projects
Telfer has 12% of the total NPV , Havieron is not mentioned so presuming that figure is combined.
This works out at $240m
That was nearly 12 months ago Telfer value is falling.
I can’t see the value being much more as the rest of the mines value would decrease if Telfers increases distorting their NPV values.
NCM also might not be able to achieve or might get more.
$240m looks like a great value for both , I would have thought that to be a minimum.
Who knows what’s going to happen 🤷♂️
My own thoughts about what is happening seems contrary to most of you on here but I think Winu and Telfer will be up for grabs.
I was a bit taken aback by the Rio jv last year and I came to the conclusion they were pulling back from the Telfer zone of influence. Their jv with other companies within the Winu zone of influence have been unaffected . There has been rumours a few years ago of Rio pulling out of Winu and they are resurfacing.
When you look at Rio latest news the next few years capex is absolutely enormous for a West African mine and the Mongolian mine.
Capex for Winu is likely to be held back, a sell looks on the cards to me.
If Shaun gets both he won’t be sending material to Telfer, Winu needs to be a processing hub for all the satellites targets around there remember these could be 50km north of Winu.
The economics of transporting ore to Telfer would be mind boggling expensive so a new plant at Winu has to be expected.
Telfers EPA allowed for around 80 road trains a MONTH to Port Hedland carrying concentrates.
30m tons a year from Winu would be around 470 road trains per DAY plus around 100-150 per day going to Port Hedland with concentrate. This is just not feasible.
The heritage situation at Winu has been rather difficult for RIO their exploration around Winu has been disrupted and their huge licence holding up there must be up for grabs.
Exciting times ahead but a bit of a lull in activity at the moment. Head down at the moment. Keeping everything crossed. 🤣🤞
Hi Malva
I personally think you haven’t grasped the mine plan very I’ve itemised a mining plan for the 6 pits and to sustain a 500k oz plan passed halfway down is not possible.
You remark about the open at depth but they’ve not found much at present and will stope it. They are very long thin thrust faults they will be expensive to stope as they are very spread out the capex will be high. Havieron ore body is straight down and compact so the decline will serve all the stopes and the future bulk mine.
I think you are blinded by Love of Hemi and can’t really see through this mine plan and you don’t really understand the mining plan of Havieron. I’ve spent many hours planning a mining sequence for both and I don’t see what you are seeing.
The smaller targets at Hemi are very irregular and have a sizeable dilution problem whereas Havieron internal dilution is low and whole dilution is only 6% +3% to include paste fill coming out with the bulk mine if that happens.
Enough said from me I’m not invested in Hemi and I’m not that interested in it to be honest.
Well I think that article says it all “sustainability “ is the in word, CO2 reduction, solar, wind and gas power station.
Sending their copper concentrate to Port Hedland.
This suggests they will build the plant there to produce copper concentrate. They will also take in other ores from other mines notably Calibre from Antipa but also targets to the west like Bulldog and Ggp’s Citadel Hill to the east. These are within trucking distances of Winu are small enough for trucking to be viable.
Winu is sat on a very large land package, I can’t find anything published of this exploration.
Winu is sat on roads/ tracks to Port Hedland by the look of things so makes sense to go that way than Telfer.
Getting ore from Winu to Telfer is uneconomic, not viable to truck that quantity to Telfer no matter what AISC. You wouldn’t run a mine like that.
There’s plenty of smaller targets all around Telfer.
The status of Telfer at the moment is precarious , ore is due to run out CY 25 that is June 24 onwards.
Rumours are around that there is more orebodies around the pits, I asked Shaun about this and he was stumped he didn’t know about or didn’t want to say.
The only thing I’ve found published is an old section from around 2002 which shows an ore body under the airport.
Getting the ore from Havieron is still critical to keep Telfer going.
The open pit is likely to run out first, NCM are not likely to invest millions for another cut back.
There is still some life in the underground though. The AISC at Telfer is going to remain high.
All this talk of trucking ore to Telfer from Winu is just not feasible.
Callum probably doesn’t realise they’re looking at 30m tons a year.
You divide that by 356 days and 180 tons per truck for a 3 bed truck that’s 469 truck loads per day everyday it’s just not viable, economical suicide.
500m tons divided by 30m for 17 years.
I can’t believe people are still talking about.
I know you lot don’t like the talk of comparing with other mines but how else will people know how good Havieron is.
There was some talk about the opvm at Hemi being 25,000oz per metre but that is over 6 pits. Let’s break that down Brolga the biggest one has 10,200ozpm but that is in only the top 200m and an average for the whole pit at 6700ozpm. Below that level down to the base of the pit the figure is around 3200 to give that average.
This shows a graph shape in the form of an S.
When they get down halfway the majority of the mineralisation will have gone.
Now look at Havieron graph on the last presentation
https://greatlandgold.com/wp-content/uploads/2024/03/Greatland-Corporate-Presentation-March.pdf
Page 14
Shaun always says that’s his favourite slide. Why?
There are 2 peaks at the top matching or beating Brolga, there are others approaching the 10,000ozpm.
Shaun described how some zones haven’t been drilled fully and they haven’t it’s too deep for surface drilling to find everything. What he is expecting is that graph to be vertical and still moving downwards and to the right at the bottom.
From my earlier posts from years back I described the future shape as being an upper and lower ovoids with lower one containing large amounts have gold.
The shape of this graph is going to be a reverse S and open at depth and grades increasing.
The Havieron mine life will be very long, the Hemi mine life at 500,000oz pa will be short lived.
Go to January 28th 2024
2 slides from the presentation
https://www.ggpchat.co.uk/viewtopic.php?t=124&start=60
The one shows a mountain with Shaun’s path to the top.
Snowdon is 1,086m high
Havieron mineralisation is 1,300m at getting deeper.
We have had a steeper hill to climb.
The second slide shows the volumes indicated as 3 cylinders.
A tiny one, medium one and a great big one, which is stated as being “ current estimated volume of the Havieron Breccia system.”
I can see your dreaming 🤣
Just not going to happen.
Shaun mentioned in London last year that trucking that much ore to Telfer is difficult.
I don’t know if you remember I was questioning the feasibility of trucking the 3m tons but they’re saying it’s doable, going up to higher figures per year is not doable and needs conveying especially if it ever gets to 20m ton pa in a bulk mine.
30mton pa at Winu is not economical to get to Telfer perhaps didn’t know of this projected figure.
If you look through Antipa news it states somewhere that their gold at Calibre could pay for the Winu ore to be processed either there or at Winu
Hi Malva
There is a lot at Hemi to consider
The gold is the only economic mineral it has to pay for the whole operation.
The only way 500koz could be achieved is having all 6 pits open practically at the same time as it gets lower the amount of tonnage coming out will get lower.
Their underground mines will be stoped so you can’t compare Havieron capex with Hemi as Havieron is very compact , Hemi underground looks to be in narrow thrust faults and veins.
Hemi irregular shapes will cause high dilution rates they’ve never disclosed any.
Havieron stoping will preserve the cover surface reinstatement will be minimal, Hemi will be quite extensive especially with a huge tailings pond to be constructed.
Hemi needs to extract 3x Havieron ore for the same ounces equivalent.
There doesn’t look like there will be dilution if Ggp by Telfer and the 70% according to what Shaun was saying.
There’s a lot of talk about more Ore to be found at Telfer so it’s just not the case of buying a plant on its own.
Don’t get me wrong I think Hemi is a good asset but it nowhere comes close to the Havieron orebody