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The new Telfer Mine Plan is a stop gap in my opinion until the potential targets have been evaluated and permissions gained.

On the diagram on the presentation the Mine plan targets are shown in blue, mainly from the West dome cut back and small zones under the main dome.

The orange areas are the potential target zones. West dome 7 and 8 cutback extensions, Main dome 9 cutback extension, M and A reef extensions.

The brown areas are the 2 big new exploration zones, these need extensive drilling and infrastructure Declines.

I would expect these 2 areas to now take priority and the Declines need advancing before Havieron in my opinion, this will prevent hiccups in ore available for processing.

Havieron could then proceed safely without rushing and getting the procedure right first time, especially through the confined aquifer.

West Dome deeps and the vertical stockwork look to be sizeable ore bodies they’re saying they are high grade, these should lengthen the Mine plan considerably.

These 2 will expand the Telfer reserves while they continue exploring elsewhere.

Rumours are still circulating about ore under the airport but nothing official yet. I doubt if they would spend money on moving the airport just yet.

There’s 9.6m tons in the stockpile by 1st October. Ggp want NEM to start processing and depositing in the tailings dam 8 for at least 2 weeks to make sure the remedial works are ok. This ore will be replenished from continued mining, there are financial adjustments to this. Ggp have to pay A$10/ ton for this stockpile which I believe is included in the deal.

There is also 20.4m tons in other stockpiles deemed too weak by NEM but Ggp have stated they think they’re viable. They will not be as high as the ROM stockpile which has 0.67g/t au and 0.09% cu and recoveries of 86% and 64% for au and cu . My thoughts are there is $175m worth of gold and $50m copper, the copper in the concentrate is about 12% so that’s about 8-10 ton per 1 ton of copper but significant credit to reduce the AISC but the number of tons per cu ton is one reason the AISC is high.

When Havieron starts it should be around 3-4 ton concentrate to one ton of copper.

This scenario is not going to happen, the last couple of weeks has seen a huge decrease in the amount of land they had and they haven’t reapplied for any. There’s another huge area to the NW of Winu expiring in October, I’m not expecting them to keep that either.

They recently pulled out of a jv with Sipa to the east of Winu.

The buying of Calibre for me looks like they are packaging it up with Winu.

Winu licences themselves have not been granted yet.

FMG have been picking up licences all around.

Another big deal is happening in my opinion but whether Ggp are involved is another matter.

They’ve said in the admission document that any bulk mine at Havieron will come at the end of the stoping mine life so that could be a long way off.

They also stated they were looking at increasing the tonnage through put in the FS.

This has to be something to do with the high grade pods in the Northern corridor not bulk caving yet anyway, that will need its own FS in the future.

Putting a hoist in is a huge expense at this stage they need to get revenue from Havieron stoping first. 5-10 years away for a hoist.

The West Dome Deeps now are precedent to Havieron, it’s close to the mill, the mill is set up for that and no transport issues. It’s high grade too.

It’s the hydrology report that has put things back , they’re having to build those 3 new ponds due the existing ponds overflowing in March due to heavy rainfall.

The area next to the ponds have been contaminated and remedial have been progressing.

The critical path to first Ore is not the Decline, firstly it’s the new ponds, secondly it’s the 2 deep vent shafts, above ground infrastructure like the refrigeration plant, water main from Telfer and new roadway.

The Decline is way down the list.

They want to build up a large stockpile at Havieron, the stockpile at Telfer is 9.6m ton. The first years production in 2026 is just over 1mt, so it will need the following years production to boost the pile. They want a good sized amount to maximise the plant capacity of one train.

They are running Telfers Ore down before Havieron’s is needed.

You need a different mindset now.

Telfer ore has no transport costs so it makes sense to utilise that first.

There needs to be enough ore stockpiled so when the transport contract is let there will be enough ore available to keep the trucks flowing.

Https://www.proactiveinvestors.co.uk/companies/news/1055982/greatland-gold-buys-havieron-and-telfer-for-us-475-million-with-huge-cash-call-1055982.html

I’ve read this morning in one article Shaun has said that the stockpile is 30mt that’s 3x the size of the admission statement for 580k oz so at $1000 margin that’s $580m.

He also said Telfer will produce long into the future. I believe that will be the West Dome deeps a high grade ore body. It will be quicker to get out than Havieron will be.

The other thing he stated was that Havieron ore will be stockpiled and have a considerable meaningful amount to fascilitate full maximum use of the plant by mid 2027.

The pressure is now off of Havieron to keep Telfer going.

The pressure now is on the West Dome deeps but there are other items which I’ve already mentioned to keep the mill going.

The Stockpile deal is very complicated, it involves a lot of money for some months to come.

9.6m tons as at 1st October @0.67g/t and 0.09%

This would give $207m au and c$90m cu

There is a fee A$10/ ton

Newmont will start processing this when the prohibition is lifted and are required in the sale agreement to deposit tailings in the TSF8 for up to 2 weeks then monitor the dams.

The stock used will be replenished by NEM

Like everyone else i don’t know how the market will react, the deal is very complicated. What I feel is at 8am there will be a drop in the share price and a clamour of buys will raise the ask very quickly.

I certainly won’t have brown trousers , 7p for a share in a junior to possibly 5p for one of Australias top gold producers, that price won’t be there for long.

As brief as I can

100% Havieron

100% Telfer

100% Telfer licences

100% Juri

10% of Antipa

Wilki jv with Antipa

New targets at Telfer deemed not economical by NCM/ NEM ie cutbacks to Main Dome, stockpiles in West Dome.

Identified a new target - West Dome deeps has an exploration decline constructed to it from the Main Dome deeps , fan drilling has started completion due 2025 for new MRE.

Only going to utilise one train capable of handling 11.5m ton.

AISC reduced from c$2500 for Telfer to $1454

Waiting for works to TSF7 & 8 to be completed in September. Only going to use 8 in future further remediation on 7 maybe required if future demands require more volume so it won’t hold up the sale. TSF8 needs the Prohibition lifted for sale to proceed.

O’Callaghans anomaly

Further targets on the leases that were deemed too small by NEM to be investigated.

A lot to take in.

Hmmm Ggpt

This poster you are on about had a right pop at me on ARV for calling his nonsense out, he’s says a lot but doesn’t give anything of use.

Another pop up poster with too much to say and says nothing

I’ve been following Newcrest’s reports over the years and they have drilled almost everywhere they thought might be an anomaly.

Every quarterly report they announced “No significant results”.

They announced in one presentation that due to the successful drilling experience at Havieron they were re evaluating these results. That was fairly recent, I don’t know if anything happened with that.

Expectations though should be kept be kept low on finding other deposits and they’re not likely to be big. Newcrest were looking for big targets like Tier ones, Greatland may decide they can make something of smaller targets.

If Ggp take over the Newcrest Operations Ltd who own Telfer they will have access to those licences but time is running out on some of those licences they need extending. Other firms are gradually snapping up these licences.

The Juri jv and Antipa jv may come under that company.

Hi Jiffy

The satellite images are still showing works continuing on the tailings fascility No8, they’re not finished yet.

Tsf7 has been sprayed maybe with dust suppressant, so that won’t be used for tailings.

The Prohibition notice has to be issued in writing.

The end of these works is approaching.

Byrnecut are still working under ground and the ore is being stockpiled. The open pit has stopped but that wasn’t Byrnecut.

The prohibition notice needs to be lifted before the sales process can finalise.

There needs to be a General Meeting to vote on the reverse takeover , if approval is given the shares will be delisted and the new larger company has to apply for re admission and there needs to be an admission statement issued .

That’s how I see it after reading the rules.

Regarding Havieron the Decline needs new contracts, I can’t see that starting again without the 100% sales agreement .

No that’s not the reason, the AIM rules have been breached.

That deferred payment could be the $50m loan we owe Newcrest, it was in the agreement that it would be paid back from revenues and Shaun wouldn’t pay it back before the FS was published.

You have to stop and think what is Ggp’s valuation based on.

Well it’s based on 30% of a starter mine, that’s around 8% of known inferred calculations.

The valuation has to grow considerably from today’s figure.

One of the Presentations shows 3 cylinders with the tiny one indicating the Starter mine then 2 others showing the growth. I’ve posted that on Ggpchat somewhere.

Hi Doozer

A lot of people who have met me have asked the same question and I’m not prepared to give an exact figure.

Charts can only base a forecasted figure on past trading patterns.

This company has an asset unlike many in the mining industry.

The company valuation is underpinned by a reserve figure of 2.9moz of which Ggp only own 30% at present. This valuation will rise when Ggp gain the 100% more than double. We’ve been waiting over 2 years now for a revised reserve figure, guesstimates are coming out at around 4.2 to 4.4moz this is near a 50% increase.

We have 2 big increase in valuations coming besides everything else like the FS, the new mining plan and a Decision to mine all big catalysts.

We then have the reserve figures for Telfer due to be revised to be included.

If Ggp do a reverse buy out of Newcrest Operations Ltd they could be gaining the other joint ventures as well Antipa and Juri.

There’s too much happening for charts to be any use at the moment, momentum is going to push this higher. Forget 40p anybody can give a future figure and it might achieve that, like the Broken Clock Method, my own forecasts are way higher than that but keep an eye on news.

40p in the future is an irrelevant statement for me and will be bypassed by my own forecast which keeps changing as events unravel

Shaun told us they would be using Train 2

What they are saying on Ggpchat they’ve missed the vital point that Telfer open pit ore was due to be exhausted this quarter. There wasn’t going to be need for the weak ore through Train 2.

That mixing of ore he talks about in train 1 shouldn’t be happening now, the head grade for that train will have to increase without weak ore.

He’s talking as if the weak ore will keep coming perhaps it will I don’t know but in the scheme of things it shouldn’t be.

In the PFS it shows the average annual grades indicating the head grade should be around 4g/t.

It also gives dimensions of the stopes to achieve 2mt.

To my mind Train 2 will not be using Telfer weak ore for much longer..

Telfer ores have to be mixed due to high sulphur content apparently.

Havieron ore needs to reduce the pyrrhotite by a magnet circuit within the float and the concentrate blend needs mixing to reduce the bismuth concentrations.

Two separate sequences.