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Hi Lebugue

“In the flesh” brrrr too cold 🤣🤣🤣🤣🤣

Hi Spud

Loved your post

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣💰💰💰💰💰💰💰💰😊💰😊

Hi kkwi

If the copper sell process is similar to Newcrest then the copper concentrate is sent to Japan for processing, they charge for this service by taking the cost out of the gold credits. If the grade of gold in the concentrate is less than 20g/t they keep all the credits, over 90g/t the processing is free I believe. Newcrests concentrate contained around 60%. The remaining credits are returned after debits for contaminants are deducted.

Hi Snorkler

The West Dome Stage 7 is definitely next, from satellite images the last stage looks depleted which is why the plant could close for maintenance.

There’s a lot of ore they could’ve included in that MRE but just didn’t have the time.

The 6 drilling rigs may or not be drilling these. There’s definitely 2 underground rigs one on the ESC the other was on the WDD possibly moved to the ESC. 2 more are working round the West dome pit, one has been in the pit the other was drilling around the pit mainly on the tracks. I’m presuming they will be now on Stage 9 in the Main pit. I’m not sure where the new rigs will be drilling but there’s an area between the 2 pits that could be mineralised that’s not in the MRE or potential targets and obvious place to explore. The reason I am suggesting this area is due to the main mineralised reef the MVR running underneath this zone and a vertical fluid pathway coming up through the Leader hill pit and into the Main dome. One of the sections is showing a deep area of MVR under this shown in red.

Underneath the West Dome pit they show the same reef in red and the new MRE sketch shows mineralisation through this zone larger than the original sketch.

I’m optimistic that this may lead to a lot more mineralisation.

Tungsten

My opinion of the Tungsten anomaly at O’Callaghans:-

There are 2 stages of processing that tungsten ore has to go through for a saleable good.

Firstly it has to be turned into an ammonium paratungstate, some miners sell this on , I haven’t found any pricing for that.

Secondly it goes through a roasting and reduction process to turn it in to a tungsten powder and there is a price for this of $38/ kg.

Value of $8bn is incorrect as that was based on $44.

The metal content of 189,000 tons has a recovery factor of 74% , so the total saleable is reduced to 139,000t.

The value therefore is $5.3bn.

That is using an industry yardstick method mentioned in the SRK admissions document.

In this report they state “SRK state that the value implied by the industry yardstick method does not accurately reflect the constraints on future development at O’Callaghans including recovery, metallurgy, depth and access.

SRK has discounted the values implied by using this industry yardstick method from further consideration.”

They also describe O’Callaghans as being below an aquifer.

The value SRK has put on this project is a high of $21m .

I think that’s put this subject to bed, the West Dome Deeps is far more important.

Just to clarify the meeting is Thursday 24th April, I think I said the 27th

Hi Zoros

Havieron will progress, Telfer needs the high grade for the copper concentrate. Some of the low grade stockpiles are very low in copper. They will have to use the debt at some point as the infrastructure is nearly all up front prior to producing. Telfer free cash flow will reduce the debt required.

Ggp need the optionality Havieron brings.

WDD is still very exciting though.

Hi Snorkler

I don’t mind having this discussion with you but it’s a shame an idiot butts in.

I really don’t believe there is $8bn of tungsten down there and nether do the consultants who value it at $21m.

That figure of Newcrests looks like an error, I would suggests it’s 800,000-1m tons of ore pa, that would make more sense. 800,000MTU into 189,000t the years needed just doesn’t make sense.

We need to wait for Ggp to clarify and then continue the discussion.

Snorkler

Think you need to do some maths and work out how many years it would take to remove that 800,000 MTU

Hi Snorkler

You are saying I’m incorrect but that would mean Ggp consultants have got there sums wrong. Your post yesterday suggested they would be mining 800,000-1m tons pa of tungsten they only have 189kt to start with.

The complexities of removing this ore will be extremely problematic.

This link I’ve found describes how difficult it is to deal with tungsten.

https://pubs.usgs.gov/bul/0652/report.pdf

Pages 99 and 100 describes the difficulties of getting to processors with contaminants in it such as copper, lead and zinc.

They can only process on site an ammonium paratungstate ( possibly a tungsten powder) this is not worth $330 per 10 kilos that’s a finished product.

Crazy to keep banging on about until we get details from Ggp what they intend to do with it.

There is an aquifer above it so it’s going to cost to get it out.

Newmont have got enough to handle with their 10 tier 1 projects.

Telfer is a depleting mine at the moment it’s not a Tier 1, all they’ve achieved at the moment is to increase the mine life from 15 months to an unknown date maybe 2 to 3 years. That’s not an attractive option at the moment.

We have a reserve update coming that will improve the outlook but a resource update for the remaining “missing” items is crucial for the mine life.

An initial resource update for the WDD maybe a catalyst for a takeover maybe not the first one but any sub level caving operation will show the real potential.

Still not issued the FS for Havieron.

Conclusion for takeover not yet.

The West Dome Deeps certainly gets forgotten quickly on here, all the excitement seems to keep going back to O’Callaghans, I’m not sure why, it may or may not happen.

WDD will certainly happen and it will happen fairly quickly in mining terms, possibly quicker than Havieron in my opinion. It’s certainly an exciting prospect of maybe 10 years or more of stoping and then possibilities of sub level caving afterwards above and below.

O’Callaghans is a possibility whereas the WDD is a definite.

The 200,000oz + at the SE hub is another strong possibility, open pit near surface some strong copper results. In my own mind I think this area could be let out to a junior for a joint venture to progress it quicker.

I got up early to see the sun rise on another exciting day , looks fantastic 🙂

Shaun told me in an email that he would be over between April and June, my guess it will be just after the vote.

Tamworth meeting is on the 27th April so I’ve asked again if it will clash. It’s completely full by the way, Rotherby has done a great job organising it again and says he has enough people for a second one north of Derby. You need to be on his list for news. His contact is on Ggpchat.

I don’t think we will find a better venue than Stroud though. That was a great night with some travelling a long way, Maidstone, Nottingham, Swansea, Leicester and Shropshire. Many thanks to them and others for making it a great night.

SRK are valuing the tungsten at A$524/t

This tungsten business on here is getting out of hand.

Please read the admissions document, the SRK consultants report 15.5.2 on O’Callaghans.

They’ve given it a low and high value between A$10m to $21.2m

It’s deep and is under another aquifer.

If it was worth $8bn don’t you think Newcrest/Newmont would have gone for it.

I’ve suggested they might get a tungsten powder but it could be one step backwards and just be an ammonium paratungstate.

The most Ggp could hope for is to produce a tungsten powder, it’s this powder or concentrate that is being sold through Rotterdam at the moment for $330.

The cost of tungsten is so high due to the costs of getting it from a powder to its final state. This powder is worth around $60m.

The copper at O’Callaghans is another matter, that’s worth around $1.5bn

Hi Panama

Thank you for the lovely post 👏

There’s always been planned a primary crusher planned by the ROM near the Boxcut, this reduces the ore sizes to a more appropriate grade tennis ball size rather than football.

A sorter after that would reduce the amount of of waste rock before transport.

The stockpiles around the boom at Telfer have come from a primary crusher

Hi Howezap

Only to reduce the waste rock so that it doesn’t have to be transported to Telfer.

The actual grinding needs to be just before it goes in the float, the fresh grinding face allows the acids to react better on a freshly ground face. This means it needs to be ground down at Telfer not Havieron.