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Thereâs an inventum image of the Rosie deposit which is on the same greenstone belt as Regis near to EG.
https://www.ggpchat.co.uk/viewtopic.php?p=5212#p5212
It wonât load though.
This could be some of the structure types theyâre looking for at EG not necessarily pipes
Https://www.lse.co.uk/rns/GGP/block-listing-interim-review-8nmtoxxmupn0hbe.html
Share Inventive Plan đ¤Łđ¤Ł
Callum suggested to me that Meadows contains 5moz, what I believe now is that will be in 1m+ oz deposits. He said he would like to pepper Meadows with drills for ÂŁ300k.
Shaun is more frugal with the funds at his disposal.
Ernest Giles was thought to be a company maker before Newmont joined Ggp there and looks even more so now.
Will they join us again?
Iâve updated that Greenstone map
https://www.ggpchat.co.uk/viewtopic.php?t=880
Iâve put up an image of Gruyere mine 6m resource and 4moz reserves
Iâve also added Regis resources a multi billion dollar company with 10moz resources
Looking better and better for EG
As Shaun stated they will take their time in assessing what they want to take going forward. Itâs not going to matter to them of Ggp sp they will just issue their shares in exchange I wouldnât have thought a cash offer was on the cards.
It looks like we are going mining why wouldnât they want to share it with us, we have a big carrot on a stick with EG.
Consideration of that must be taken into account when they hold a lot of licences around Jundee , I couldnât quite work out where and what but it certainly wasnât Newcrest stuff. If we find deposits on EG there could be a frenzy of takeover activity
From the Projects page on the company web site about the FS
âVarious workstreams to support the Havieron Feasibility Study, including geotechnical and hydrogeological data collection and modelling, ore characterisation testwork, process plant design, mining trade-off studies (including refrigeration, ventilation, material movement, and paste fill design) and infrastructure assessments (including power, haulage, water and tailings) are continuing to be progressed with several value enhancing options underway to maximise value and de-risk the project.â
There are advantages for both parties in the joint venture.
Once issued both parties can put the asset up for debt purposes.
We know Ggp have their bank guarantees, this debt can be taken up when the FS is released. This will allow the Newcrest now Newmont debt to be repaid and pay cheaper interest rate to the banks. The Wyloo debt can be repaid if not taken up yet. If the FS is not issued by May the Wyloo debt will certainly be taken up.
The debt repayment will certainly help towards NEM making their initial $500m of savings. They can also borrow against the asset instead of using their funds.
The FS must have substantial content changes for the delays to keep occurring .
EG is not only about gold itâs also sat on a NW trend where there is a supergiant zinc and lead target being discovered by Strickland and Rumble resources.
Also loads of potash being recovered all around EG in every direction.
https://www.ggpchat.co.uk/viewtopic.php?t=695
Hi MH
I think Gruyere is more exciting
4moz reserves and 6.5moz resources and 3m ton processing plant only about 50km away.
Jundee is about 200km away.
All these mines around on virtually on every bit of greenstone.
EG is little explored.
Every time I look at what other miners are doing I get more excited about EG and can understand why Shaun is as well.
Put that to one side donât expect too much from these last 2 drills theyâre not going to produce results like Havieron, theyâre looking for structures.
Take look at whatâs happening around EG
https://www.ggpchat.co.uk/viewtopic.php?p=5208#p5208
Hi Bellars
I believe there was only 5â of rain that wouldnât have filled that big pond, plus there is an allowance on top of 1 in 100 year flood for wave motion from high winds so itâs not likely to fill right up.
If the ponds do all fill up the evaporation will take longer and a bigger area required.
That doesnât look likely at the moment
Hi James
Off hand I havenât but in the first environmental submission they quote it in gigalitres.
Paddy showed me a submission extending the large pond practically doubling its size but I donât think it will be required. The large pond did get filled with recent rain but not a great deal as you can still see the salts appearing as itâs drying between the images.
There are 6 boreholes pumping, if you had 1 bore hole the water would drain into it from an area forming a circle, so if you have 2 boreholes the area between the 2 would dry up leaving only the remainder to fill the bore holes.
With 6 the area between the 6 will dry up so the area where the Decline is should dry up first. Shaun eluded to the work being ahead of schedule but itâs all down to the hydrology calculations as to when they can recommence.
The PFS happened a couple of years ago showing a mine plan of 2m tons of ore per year.
Itâs the FS we are waiting for, it doesnât look like it will come on the 22nd Feb with Newmonts results. If it comes after June which has been intimated it will leave things tight with Byrnecutâs contract ending end of May.
It is only paperwork but we need the mine plan to proceed it has to be approved. This approval has been sought since the May application last year and a revision was submitted last November.
The main item this year is to get the Decline to the orebody safely and dewatering is a huge derisk to the project.
The Decision to Mine has already been taken by accelerating the Decline to the ore body it just needs rubber stamping.
Theyâre not going to sit there looking at gold ore and not start getting it out of the ground.