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Don’t think it’s cost cutting just part of the licensing system.

Why Antipa are racking up all these licences everywhere I’ve no idea, some are really not worth it.

Goliath is massive but deep and only 2 drills in it. Henrietta is probably next imo.

Hi Doozer

Right at this minute Newmont would still be the Managers so probably they arranged the surrender back to the government department who runs the licences.

Would have needed Ggp agreement though.

Hi kkwi

I suggest you listen to Shaun at the Town Hall presentation, he was enthusing about this hedging required by the banks at $2450. He said it was win win if the price gets to $2800

They have to spend money per year on each block or can surrender upto 40%.

Remember Newcrest have been the Managers for about 2 years and not a lot has been accomplished in that time.

Compulsory surrender probably

40% of the Paterson Range east has been surrendered

Antipa are going after Tama

We’ve lost a few targets around Goliath and Outamind

Hi Pernickity

Maybe get to 51% then stop at that, it’s not worth $44m to get anymore.

Expecting a rewriting of the terms.

Parklands is the goal

Hi Spud

I doubt if Ggp will takeover Minyari yet if at all. They can just sit there and let Antipa spend money proving it up at the moment why would you want Ggp to spend their cash when there’s so much better things to prove up at Telfer.

Minyari doesn’t flow into Havieron it’s coming from 3 to 5km down maybe more. It’s coming up as vertical veins so it is not like the high grade at Havieron.

Ggp will charge toll processing doesn’t make sense yet for them to buy it.

Hi Ntl

I wouldn’t count much into that resource at the moment, there is a little bit of value in it.

It’s under at least 200m of cover there’s not much gold in it that’s migrated to the west and main domes.

The processing plant would need extensive alterations to cope with it.

Looks like one for the future.

The biggest increase in assets will come from an increase in assets at Telfer. Shaun has stated that the exploration targets are already drilled.

SRK have stated they won’t on their own keep the plant going but collectively have an increase on the asset base.

They also stated that the ROM stockpiles had been neglected by Newcrest and should be tested and emptied that looks like a great opportunity to me where a high grade mix could be found. There’s so many opportunities to increase the basic resource estimate by March and then the reserves shortly after with a new Mining Plan due which will extend the life of mine.

Geological sections through the open pit suggests there is more ore under the West Dome between the base of the pit and the Deeps.

It’s going to be an exciting 6-9 months ahead.

We had 30% of Havieron and minor share in a jv with c50m shares at c6p

Now at this moment we have 30% of Havieron and minor share in a jv plus cash from the placing with around 10.5 bn shares at c6p.

We will have

100% Havieron

100% Telfer and licences

9.6% of Antipa

100% Juri jv

The jv farm in with Antipa

With c13bn shares at c15p ? According to a broker note

Thought I would change the heading.

Fed up of seeing that last one. 🤷‍♂️

Rudall is not being drilled at the moment, when they do it won’t be to test the deeper stuff. They will be looking for a fold that goes upto the underside of the cover.

Callum hinted he didn’t think it was way deep in one of his interviews.

Tig the D to M won’t come before the FS expected in 12 months.

London deeps looks like the Diamond rigs have been busy. Looking for information on whether there is an exploration target down there.

If there is something down there then the Havieron Box cut and underground infrastructure could be used as a hub for both projects but quite a few years away.

The conditions are laid out in detail on page 41 of the 573 page document.

There’s 3 government approvals other than the start of processing and filling the tailings dam.

Then the re admission of the enlarged group into AIM involving the cancellation and re submitting of the enlarged share issue.

Other things like warranties and liabilities.

Won’t be today.

There is also compensation to Newmont for running only one train.

I don’t believe that ETF works solely on the Mcap, it has a lot to do with the free float in the share mix. That % has now gone down.

Do you remember the mix up when they ignored all the nominee accounts and had to buy a load more.

I’m not keen on this ETF system too much volatility.

The government approvals for the stage 2 revision mining plan haven’t been received yet. Maybe January?

First thing to happen is the 2 vertical vents.

I always get a lot of abuse when I compare Hemi with Havieron so I won’t say much.

One things for certain the best of Hemi is the first 5 years after 10 then what, will be a bit like Telfer looking for further ores along the fluid pathways from below.

6 open pits, the biggest cost will be in stripping all these, each pit will have dilution/ waste rock around the perimeters.

Havieron in 10 years will be halfway through its starter mine getting ready to bulk mine, 20 years time end of the starter then bulk mining continuing 30-40 years ?

Regarding exploration funding there is an allowance of $9m within the capex.

Now that can’t be for Havieron it’s nowhere near ready for that, it must be underground fan drilling to the west dome deep plus a few other targets not yet drilled at Telfer.

It could also be for other targets of course but this funding has been covered already.

Thought I better change the heading

Hi Timber

The 9.6mt stockpile is coming out of the mine plan which has originated from Newmonts resources estimate from last December. This has a total of 21.6mt.

This shouldn’t be confused with the additional stockpile sources identified by Ggp that were discarded by Newcrest and identified of having value.

These will breach the gap from the end of the mine plan till Havieron ore becomes available.

As I’ve posted before Havieron won’t be able to keep the mill going full tilt. At 2.8mt per year that’s around 17 weeks production. From July24 to July 25 they’ve forecasted just over 1mt so probably a stockpile by Xmas of 300,000 ton at Havieron and Telfer ready to process as the mine ramps up.

The Main Dome deeps as Malva points out needs capex, this is not as onerous as Havieron’s as there is a huge amount of infrastructure already and close to the hoist.

The underground mine plan should be exhausted by Xmas so the underground teams could be deployed to the M reefs and Eastern stock corridor if approved of course.

As I’ve said capex is not onerous at this point.

There are also 3 zones in the open pits ready to go apart from water pumping. Shaun was keen to stress the base of the West pit is way to get at and has high grade, it’s already been drilled and identified as has the 2 other cut backs. There will be stripping costs with these so I’m not expecting these to start anytime soon., until funds are free.