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Hi Jerry just quoting what I heard him say at the end but yes it’s Newmonts cash

Hi Tom if you have any fragments of shares that won’t divide by say 10, these will be put in a pot and sold in the open market. You may or may not get any money for them.

Can’t see it being greater than 10. He said he wouldn’t like it to get to a £1 like that.

In the end he was asked to move away from Shaun

425,000 oz in that stockpile at $1,000 margin is over $400,000,000

I wonder what they will spend it on.

That Ricardo was banging on about no revenues at Telfer and huge capex.

Hang on whose paying at the moment for drilling the West Dome deeps, the underground mining, the open pit works, the plant refurbishment and the tailings dam repairs.

Ah yes it’s Newmont god bless their cotton socks

I believe the smaller licences will be rationalised at some point, Bromus may be a target for that.

I asked him about the Telfer licences in general, he said he hadn’t seen anything of scale at the moment but they are looking at it.

I specifically asked about the Newcrest land next to Antipa’s Parklands where they drilled there many years ago. He knows about those drills but they’re still going through huge amounts of detail.

Northern Star stope sizes =10,000 ton

Havieron stopes = 125,000 ton

That’s nearly a 13 fold increase 🙂

He said if they need any cash they can just sell down the Newmont holding.

He’s expecting them to hold some of their stock for many years

Hi Matty

He said there will be no need for a raise when joining the ASX as they will have A$200m in cash by then and production would have started.

Regarding consolidation jokingly he answered a question he would be happy with 15bn shares as it took BHP 10 years to get a billion. He said he can’t see it being 2:1 it will be higher he needs advice from his brokers.

Personally I would say you will need to round up or down to get to an even figure prior to the date of the listing if you don’t want to lose any.

Water at Telfer was asked.

“There’s lots of water in underground aquifers in WA and there’s lots water at Telfer. Havieron is different it’s a dry mine”

Well that’s a fantastic statement and it just goes to show he’s not that concerned about the Lower Contained Aquifer, he said it just seeps but how fast it seeps is still uncertain.

You wouldn’t want it seeping into the mine though, which is why I’m expecting the cover layer will remain in place during future mining operations .

Whatever happened at TSF8 seems to be worse on the Evaporation designs. These have changed “ more times than I’ve changed my socks” he said.

It’s no wonder we couldn’t keep up with events . NCM went against the EPA advice and didn’t get approval and the 3 existing ones overflowed with heavy rain.

Approvals are expected in March so don’t expect anything to happen till then, they will be complying with the EPA guidelines this time.

The Decline as I’ve said before is not on the critical path, he pointed to those 2 long vent holes they will take time to install plus a fan on the top an “Evasee” fan. A big piece of kit which needs connecting to the Telfer power station, so this will need the access road and power supply in place.

I’m very surprised how lax Newcrest were with the handling of tailings dam 8, I’m quite shocked actually . The deal would have been completed in March were it not for their management of this dam.

Shaun said there was water accumulating up against the walls of the dams. That’s a no no, the water needs to go to the centre and then pumped out from the centre through a boom.

This boom was in the wrong place too near the perimeter .

I hadn’t noticed that the boom had been moved and the images do show this.

Newmont bless them have spent $30m repairing these dams and are now in a fit state of repair and confident the plant could start up. I never heard him say it was completed though, the sat images don’t show that but the 21st was cloudy so they might be.

He talked about lifting the walls with 14 stages, I believe the documents show 13 stages raising the walls from 16m next to 27m finally 65m

From my own point of view I was surprised how excited by the West Dome deeps Shaun is, more than I am and that’s saying something.

I would like to refer back to my post of 21st Sept

“ Nowhere else matters at the moment bar the VSC and West Dome Deeps.

Reason being Telfer had a MRE resource update last December of 21m ton or there about, 9.6mt will be in a stockpile by 1st Oct, NEM will produce from it. Ggp will takeover probably with 20mt left and are saying this will take 15 months, well that is 2 trains working nearly flat out. That is half one 2026 then there is a further 20mt in other stockpiles not in any MRE resource. That takes us till H1 2027 so that fits in with Havieron ore 2027 but that’s around 6 months stockpiling around 540,000 tons only 2 weeks processing.

They need to supplement this from especially the VSC and the Main Dome open pit new cut back and the West Dome new cut back.

The VSC has a figure of 1.3moz so is significant and could easily be 10 years Mine Life there.”

The first I should have added those 3 orange areas on the slide showing these 2 anomalies.

He said the bottom of the West Dome open pit was high grade and easy to get at, so will be the first to be mined next will come the north end of the pit then the Main Dome these 3 will increase the stockpiles to 70m tons so that’s another 2 years of full plant processing. The underground workings will add upto 1-2mt per year.

I asked about the VSC already fan drilled and is it ready to go and he said yes but is lower grade only 1.8-2g/t (only 🙂) and will only be used as an infiller but it’s open in most directions and at least 10 years life. He went on that the West Dome deeps is much higher grade and will be easy to mine with a horizontal access to the hoist.

Expect big things from this orebody it’s great news 🤣

I would also like to thank Dip and the doors for their notes sparked my memories and will add more bits of details later.

Nearly missed the last train again 🤣

That was the best Town hall absolutely fantastic

Train bouncing around 🙂

Hi Spades

I normally rely on Nitram too make notes, he never writes anything down I don’t know how he does it. He’s not going today 🙁

Hiphop made some good notes last time.?’

About 4pm looks like quite a few of us will be there

On train to Paddington.

Looking forward to meeting everyone in the Cheshire Cheese beforehand, always great to meet up