Member Info for Bamps21

The 20moz at Telfer is what has been estimated to be there and rounded up. It’s actually produced around 13moz. In 2012 5moz were removed from the MRE due to be seen as unviable at the market prices.

Even in Dec 2019 the metal price assumptions were $1300 for resources and $1200 for reserves. That MRE showed nearly 100,000oz left in the Main dome pit but at those low prices we can expect a big uplift with today’s prices.

Those 5moz could now be reconsidered for inclusion in Ggp’s new MRE but some of these could have been mined since 2019.

The 10m at Havieron must be a rounding up although Shaun has quoted these figures in London before so it’s nothing new. There is nothing in writing mentioning any 10moz resource unless he’s seen something we haven’t but would expect it just to be a rounding up

This O’Callaghans deposit is quite complex , it also contains molybdenum, this has to be removed before processing to an ammonium paratungstate APT . This is what the $300 per ton is for.

Ggp may produce a tungsten concentrate and maybe a molybdenum concentrate , copper concentrate will be the dominant feature.

156kt copper resource looking at $1.5bn before costs

Oops

“For me” = formed

A Tungsten powder is the next step on from forming an ammonium paratungstate.

These powders can be treated in various ways to form tungsten products.

Tungsten carbide is for me from mixing tungsten powder and cobalt concentrate, this mixture is then pressed and heated so that cobalt liquefies flowing around the grains of the tungsten powder making a more denser product.

Copper concentrate pricing is difficult.

Some miners just sell it on, others sell to processors who charge for processing through acquiring the cost from gold sales. I think if the gold grades fall below 20g/t the processors keep the full gold revenue and then a sliding scale to 95 g/t.

The $4,500 I quoted would be too high.

Havieron you should be expecting 25-30% of copper in the concentrate, so 3 to 4 ton of concentrate to 1 ton of copper.

Telfer copper concentrate had around 10-13%, so around 8-12 ton bags of concentrate to 1 ton of copper.

That’s another reason not to mix the 2 ores but some of Telfer ores or I should say the concentrate will need to be mixed with the Havieron concentrate to reduce the bismuth content if there’s any suitable by that time.

The bismuth at Havieron came up in the first intrusion with gold, there was hardly any bismuth in the last intrusion. This last intrusion is the sulphides the first area to be mined, so by the time the breccia comes out with the bismuth Telfer ore maybe depleted.

I will change that last sentence to “ more likely to produce a copper concentrate containing tungsten credits”.

This tungsten credit maybe the Apt price.

Re:- Tungsten

I referred to a tungsten powder in an earlier post as the most Ggp could hope to achieve. That process needs a lot of heat so I would expect Ggp would not go that far.

Tungsten Ore needs to be turned into an ammonium paratungstate.

Due to the high-capital cost associated with the construction of a chemical processing plant to produce ammonium paratungstate (APT), the most commonly traded form of tungsten, most junior miners produce a tungsten concentrate.

Tungsten concentrates are typically composed of scheelite and/or wolframite and contain 65-70% tungsten trioxide (WO3) and vendors of concentrate tend to receive c. 70%-80% of the value of the tungsten in the concentrate based on the prevailing APT price.

Last year the Rotterdam APT price was around $300 so a tungsten concentrate would fetch 70-80% of that.

Ggp are likely to sale a tungsten concentrate to the market at around $250 per ton.

Https://minedocs.com/17/TechnicalTelfer2013.pdf

O’Callaghans page 48 the anomaly was first identified in 1972

Camp dome page 49

Bit different today with the metal prices there’s far more value now in the copper than tungsten.

The best Ggp could produce would be a tungsten powder not the metal, the powder I think is around $300 per ton where a copper concentrate is around $4,500

As far as mining risks are concerned posting a report from 2013 will have totally different risks than there are today. Back then there was a big economic risk to mining , which is less relevant today.

As far as the risks down the mine are concerned there will always be risks, modern mining methods alleviate these risks far more than they did in 2013, especially with less staff down the mines and less exhaust fumes.

That report should be read very carefully for the potentials at Telfer.

Just for example take Camp dome on page 49

Historically they gave up on Camp Dome due to not finding gold.

The testing of the Camp Dome samples was approved for inclusion into the Newcrest MRE prior to 2013.

There was some work on drilling Camp dome between 2011-13 after an aero magnetic survey.

That is interesting due to the fact copper ores have not got a magnetic signature so could be a gold intrusion lower down.

Well it mentions one drill found sulphides and also potassic intrusion, this is where you could get mineralised skarns surrounding it.

The Camp dome is stated to be 1000m long about 400m wide in a folded anticline a supergene layer of copper 50m thick plus a copper oxide blanket above it.

It’s not been drilled that much so plenty of scope for an increase in the estimate and inclusion in the next MRE update.

O’Callaghans is only really mentioned for its copper content but does also contain Tungsten. It’s been drilled to 100m spacings so an inferred resource has been included. It needs more drilling to change the resource category.

Someone mentioned recently about a lost 5moz , well it’s mentioned in that report, more to with metal prices and viability of ores so was removed from the MRE.

I believe this has gone since anyway with the sub level caving operation.

All looking really good.

As far as any concerns are about funding the Havieron infrastructure I haven’t any. Ggp has a financial storm brewing . If you can work out how much extra they gained by selling the December gold in US$ and converting it into AUD.

By my calculations they gained A$8m increase in the gold price and A$5m in the currency conversion .

Paying the contractors is Aus $ is a win win, Shaun has stated this in his interviews.

Happy days 🙂

GBP for me is very high risk, besides having an offshore oil licence (which is very expensive even to drill) they only have one licence and 2 applied for called Juno. This is to the NW of Ggp’s 6 Woodlands licences.

On Juno there is one enormous anomaly it looks similar to some of our anomalies ie Kraken , Los Diablos, Goliath. The chances when drilled of finding mineralisation looks very small, the drilling will have to prove its not magnetite that’s what it looks like to me.

If it is mineralised it’s so big that little company won’t be able to afford to drill it.

Avoid.

Hi Dave

You sure you’re not Rodney 🙂

Going to be a very short spell of rain but a lot of it

https://www.accuweather.com/en/au/telfer/26784/weather-forecast/26784

Hi Spy

I wouldn’t say that about you 🙂

Cyclone Zelia about to land at Port Hedland

https://m.youtube.com/watch?v=5cEf5Zq0a2U

Your posts reflect the 2 obnoxious characters that have been banned from here, very similar styles to Roy Hobbs and Fred Dobbs neither gave this board any positives only garbage

Hi Speedie

You need Southerncomfort for that, someone with a big head

Hi Schliemel

Working in the ground always throws up issues of one sort or another and usually puts pressures on costs.

Technical issues are not only the Decline though.

Draining that aquifer and constructing those large ponds is still an unknown risk whether it’s high or low. From what I’ve seen it looks on the low side.

Constructing those 2 deep vent holes through 3 aquifers is quite a challenge and the main item on the critical path.

Getting more ore out of Havieron than 2.8m is a real technical issue that should come clear in the Feasibility Study.

I lived by the Star Inn so know Yatton well