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They’ve probably gone through detailed reports on the plant and it’s current status and the way Shaun was talking in London about a 2 week on 2 week off for one train shows they’ve been thinking about it.

Personally I think it would cause too much disruption to the plant. At the moment they need both trains but could change by the time Havieron comes on line when only one will be needed. That depends of course what else they find and the impact of the West Dome Deep has on tonnage. Minyari will make little difference to the plant as it’s 3mt pa will just be an in filler to Havieron ore if it gets to Telfer

Hi Howezap

Telfer has historical low NSR cut offs will be interesting to see if Ggp can increase this.

In the initial mine plan with 2mt per annum Havieron had an NSR$130 which subsequently reduced to $80 with the inclusion of a 3mt plan.

I believe Telfers was hanging around the $22 and the West Dome Deep is likely to increase the NSR

This old Newcrest licence sandwiched between Camp Dome , Paterson 8 and Chicken Shack comes up for renewal on 5th January.

That makes 8 licences now needing extensions

Hi MH

I never said it was a bad move you did.

What I’m saying is the ASX is no different to AIM both have good and bad points.

London is still a leading centre for investment funds albeit successive governments have diminished it.

Wolfie you’ve turned my post into something else, I never said it was” in administration “ all companies have admin departments dealing with administration.

I will keep my thoughts to myself next time

It shouldn’t affect our shares why would it?

More Institutions on board could make the sp stable but the company economics are far more important to the sp.

I know everyone is keen on the ASX listing but I’m apprehensive on the move. I know it’s inevitable with Ggp being an Australian company and would give access to Australians buying in , but that market seems no better than AIM.

Lots of Institutions have already bought in, do we need more I’m not sure on that one. Things are on the up for Ggp whether we are on that exchange or not.

Company administration will probably be easier.

I can see the benefits but I’m still apprehensive of having more Institutions on board.

I would like to wish everyone here a very prosperous New Year, thanks to all my friends and silent followers for sticking with me.

The good times are coming 🥳🥳🥳🥳

Nice of you to drop in and wish everybody a prosperous New Year

The reason I say it could be more is that Shaun will be driving the cost efficiencies so the AISC costs could be lower increasing the margins.

The other thing increasing the margins is the rising gold price, experts are still saying it will increase.

Hi Lee it will probably be more but there’s 5 quarterly results in the mine plan

Hi Howezap

I thought the same as you and reported the post.

If he had said Ggp was as a money multiplier that would have been different.

It’s going to be very interesting what margins Ggp can get from Telfer after their cost efficiencies kick in.

In a sweep stake my quarterly revenue figures would be $110-120m 🤞

Havieron’s beautiful ore body

https://www.ggpchat.co.uk/viewtopic.php?t=859

January 13th 2024

🙂

There’s no 2 ore bodies the same. Telfer and Havieron have similar ores but there’s bismuth in Havieron’s and oxygen has got to Telfers.

If you find a photo of Telfer before mining commenced you will see the E reefs sticking out the ground with loads of erosion. Havieron is way under the ground but the top section of the sulphides would have poked out of the ground after the eruption and been eroded.

The water table has made the difference with Telfer being wet and Havieron being a dry mine

Cont’d

Getting more than 2.8mt from this stoping operation would involve increasing the length of the stopes to include weaker breccia, as I’ve explained they’re not likely to do that, they will need to keep them separated. Another 3 words “ more is less”.

That’s my Bamping over 🙂

Hi Howezap

My question to you and many others is why would you mix Telfer ore into Havieron’s special reserve?

My friend keeps telling me just tell me in 3 words what you mean. That’s difficult for me maybe Tina Turners “Simply the best” but the next line explains it “ better than all the rest”.

After visiting my nephew in Cognac this autumn I had a lesson in Special Reserve and not calling it Brandy. Would anybody want to mix a Cognac Special Reserve with a brandy, no but you might blend other reserves to make a new one.

This is why most people are hanging on after seeing those stellar results from Had001 and 005 and why there is a list as long as your arm of institutional Investors getting on board.

“Havieron is special “ 3 words 🙂

Take the 3mt per annum why would you put a weaker inferior ore into it, would no longer be special.

Shaun has explained how it will be processed recently (I can’t remember when). This is not the way Biswas foresaw how it was going to be processed, so lab tests have been changing over the last 4-5 years. How they will deal with the bismuth content for one, SB was talking about using a piece of plant that would remove the pyrites within the ground ore containing the bismuth, SD is talking now of the copper concentrate being blended to reduce the bismuth to the processor within acceptable limits.

Shaun also was referring to Havieron ore as needing extra grinding as it goes through the plant, so will take longer to go through and be more expensive than the Telfer ores.

The 2.8mt per annum will produce around 250,000 oz of gold, Telfer ore would need at least 10mt perhaps more to get to the same figure and cost a lot more to get through the plant.

The sequence for the Havieron ore will be to blend a head grade on the ROM pads send to the mill for grinding, flotation circuit (copper concentrate), then the cyanide circuit( gold Dore’ bars). The concentrate will be sent to the Telfer storage facilities where it will be blended before it is loaded for transport to the Port Hedland facility and then shipped to Japan ( if they’re using the same processor as NCM)

This concentrate is likely to contain head grades of 50-90g/t possibly in the higher range. The processors take their costs from the gold in the concentrate, if they’re using grades less than 10g/t they keep all the gold revenue then it goes on a sliding scale to over 90g/t most of the revenue is returned as credits. This shows the importance of getting the blending right to get the most revenue returned.

The quality of the ore also dictates the amount of ore that will come out of the stoping to 2.8mt. The sulphides are not very thick so when the stopes are driven through the length is dictated by the sulphides thicknesses. Shaun was talking about these stopes being some of the biggest in the industry, that’s not the length but the width and height so this will reduce the overall costs.

Havieron has sulphide ores most of Telfers are oxide so need different reagents.

Why would they weaken high grade ore? Shaun replied to me with that question.

The high grade ore from Havieron is graded before it goes on the ROM pad to reduce the bismuth content in the mixed ore.

Telfer ores have their own grading issues to reduce sulphates.

The ore going through the plant needs a constant grade so the reagent constituency remains constant.

If there’s any credits in the ore it will go off with the copper concentrate. Cobalt is unlikely especially from Minyari ore.

Hi Callit

Hasties is not that big and the Deeps target were disappointing, but their deposit to the SE of Ironclad looks better.

Paterson Resources looks a better prospect to the west of Backdoor with their Grace project. They are not financially secure so could be more of a joint venture target for Ggp than Antipa.

There are others around with small deposits like Encounter, Carawine and dare I say Wishbone.

I am more concerned at what Ggp has to offer and haven’t included our own licences.

Too much fuss about Antipa keeping the Telfer mill going.

They have the same issues with trucking ore to Telfer that Havieron has but for only a quarter of the years mine life.

More fuss needs to happen over what’s left at Telfer, there could be far more than left than first thought.

Metal prices are far higher now when a lot of the obvious targets were first found, some of these are on old mining leases as far back as the 80’s.

Firstly though the zones around/ adjacent to the mine need to be re evaluated with current prices, these are the ones that have been drilled out but left out of the Newcrest/Newmont MRE and were deemed by SRK not to be able to keep the plant going on their own but collectively could. Recent drilling of the ESC may alter this perception.

Secondly there are the satellite targets on mining leases that have also been left out of Newmonts latest MRE. These need to be reevaluated using Ggp metal price assumptions, these include Camp Dome in the NE and Backdoor, Ironclad, Dolphe in the SE.

Thirdly the forgotten mining leases, there are quite a few could provide additional tonnages which Shaun seemed optimistic about.

The target at O’Callaghan in my opinion is a long term venture due to its depth, copper prices will need to be a lot higher than today’s price.

Being optimistic I see the hub and spoke plant as just being Telfer ore for the short term, in the medium term I see Havieron as the main earner with additional ore from the satellite deposits / and longer term bulk ore from Havieron and West Dome Deeps.

Satellite images from the 20th and 25th are showing a considerable change to the base of the West Dome pit, indicating the excavation of ore in that zone.

Also the central stockpile on the ROM pad is showing signs of a large reduction, this is indicating a large amount of ore has been processed through the plant during this period.

Nearly 50% of the Kaliranu licence in the Rio joint venture has been surrendered.

It’s at the north end close to Antipa new target Grav02 and the jv target Chilli.