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If you are doing some digging can you hurry up and finish the Decline 🤣

Seriously though I find Landtracker very good you will need a licence number though to search.

Callum’s new licence is NW of Woodlands the geology on that one looks really optimistic. This geology runs through the adjoining applied for licences to the SE and E as a series of anticlines and faults trapping mineralised deposits.

They sit on the west of Galena licences where at the east end of that is the Abra mine.

The other applied for licences one is to the SW of Woodlands near Spartans Hibernian anomaly and the other is next to Yannarie.

Hi Chartarex

I don’t look in here as often now too many disruptors and nutters.

Liam pipped me yesterday on finding a new licence Ggp applied for. Rincon surrendered it. It’s SW of the Rio jv next to Teague.

Must have seen something on it that Rincon hadn’t, probably too busy with Westin and their other licence.

It’s deep cover there the further to the SE boundary near Rudall.

That’s 5 new licence applications in the last few weeks, some one’s been busy.

Certainly not a share for me, if we could invest in Callum that would be a different matter, he looks likely to make a bit no matter what is found.

Over $65m spent on drilling Havieron over 650x350m size, how much would it cost for a 5kmx5km.

It’s only a small licence if the drilling doesn’t find anything then there’s not a lot more to go at.

Risky investment in my opinion.

Don’t dismiss Winu.

There’s around 75m of cover over the supergene layer a very high rich section.

This doesn’t need a vast open pit. It’s a progressive top down operation with capex being funded by revenues.

This sale has been brewing over 3 years now. Ggp have far better relationships with the native title holders than Rio .

It could be quite an exciting addition to the current jv.

The blue on today’s image of the Telfer tailings looks like it’s a dust suppression from a small airplane.

Stuart Hinds sent me a photo with a blue spray coming from the plane.

The image though is showing many lines as if a machine was grading up and down.

No sign yet of any uplift to the tailings dam TSF8 from 16m high to 27m high

A lot of work being carried out on the tailings dam in the last few days.

Looks like they’re stripping the top layer off the circular TSF7.

From today’s image .

The area they’ve stripped has turned blue I’m assuming that’s copper residue.

The stockpile from the hoist looks a little bigger.

That ore is coming from a 1,000m or more.

The hoist goes down 1,000m and they’re trucking up to it. Could be from at least 1,500m down .

The 2 conveyors from the declines don’t look as though they are working, those piles are not growing.

Another licence application submitted bordering the east side of Woodlands. Date 8th Aug

That’s a total of 3 applications there now plus the granted Woodlands.

Thanks Mark

Certainly explains why Newmont put it up for sale.

The lower end of its carrying value less costs for sale.

That shows it will be sold at the lower end of expectations.

I found this recently about Tim’s dome.

On page 4 there’s a cross section of Telfer showing the open cut pit at the top and the mineralisation down to around 1,000m.

I believe the hoist goes down to about 1,000m so all the red areas may have/ or being mined now.

I would expect after 6 years they would have been underground drilling so they may know of more mineralisation.

https://antipaminerals.com.au/upload/documents/investors/asx-announcements/201129232122_2018-09-181.pdf

At the time of the Havieron jv signing Newcrest only wanted the portion of the Havieron exploration licence where Ggp had located the orebody.

Havieron and Scallywag were split to a mining lease and an exploration lease.

NCM retained the right of last refusal over Scallywag, Blackhills and Paterson Range East. They didn’t want to expend cash at that time but wanted an option to do so in the future. No other reason.

From the PFS

For 2mt pa operation

A$529m (US$389m) total cost:-

A$146m (US$112m) for the Box cut, Exploration Decline, surface infrastructure, initial road service corridor, 3 ponds.

A$383m :-

Plant modifications, road, utilities, underground mine infrastructure down to 750m below the cover, Paste plant and paste fill.

As it’s a top down operation, the initial revenues pay for ongoing works and is a low cost effective process. It’s not A$383m to paid all at once it’s a gradual draw down.

(Ggp not liable for the plant modifications or the latest tailings dam lift. These are included in the total cost.)

What isn’t in the total cost sum is the increase to 3mt, which is additional decline infrastructure, drilling outside of the PFS 2mt operation, associated underground infrastructure and additional paste fill ( all from revenues ongoing).

From NCM PFS and quarterly announcements Telfers production targets included 66% of Telfer ore over the 9 years for Havieron life of mine.

They were always assuming they would find additional resources to feed the mill into Train 1 while Train 2 was reserved for Havieron ore.

Telfer and Havieron have been linked together for reserve reporting since the PFS.

Hi Droverman

I’ve been keeping an eye on the satellite images of those stockpiles, I can only see changes to the one coming from the hoist/ conveyor and that has only been evident since the 23rd July. There was little change before that.

This suggests they’re only stockpiling from the high grade underground, I can’t see any evidence of open cut stockpiling.

The images are not clear enough to be decisive, but would make sense to stockpile the high grade from underground to keep the miners working and have a good run with quality ore.

100,000oz though might be difficult to achieve.

I think your value of Telfer is too high with remediation costs involved.

We’re only guessing, know one knows what’s going on behind those closed doors.

Hi Chartarex

A lot of thought gone into that.

My thoughts on that is 8.4moz eq is Ggp resource figure.

The last one NCM did was 6.5moz eq. Resource.

Those figures you are quoting should only reflect the reserves which have been stuck at 2.9moz eq. NCM/NEM no official upgrade announced for ages.

The resource has only an in ground figure around $200oz from memory

My own thoughts of value is NEMs own use of NPV, that is Telfer has 12.5% of the total NPV values of the 6 assets being sold for $2bn. This would be about $250m minimum as a starting point. Telfers Current NPV would now be lower than that as those were over 12 months ago.

This lady is really promoting Telfer.

https://www.nasa.gov/image-article/telfer-mine-western-australia/

If Ggp buy Telfer and can get one more year of 350k oz and squeeze the AISC down to $2,000 that would leave $450 per oz that’s £157m more than enough to cover ongoing capex at T and H

Telfer is the issue not Havieron.

It’s a mine that’s coming to the end of its life.

Havieron is mixed up with it but that has no bearing on how good the quality of the asset is.

Newmont have a budget for capex the 10 or so Tier 1s they want to keep. They will be prioritising money where the returns are greater. Havieron would have been right down the pecking order and would ultimately effect Telfers viability.

It’s nothing to do with jv partners they have others where they are still progressing the ventures, Red Chris is one.

Havieron’s status is a starter mine, when underground exploration can commence this will prove up further resources in time. It’s a deep mine it can only be proved up when the infrastructure goes deeper so will take time.

It has a bright long future 🙂

Https://scitechdaily.com/geochemistry-of-gold-peering-into-telfer-mines-rich-deposits/

Even NASA know about it 🤣

Told you it was going to rocket 🚀

Hi Ace

You need to swop experiences with Goldworm, he said he found a 1moz target sat in a pub in Kalgoorlie 🤣

I feel SD did deliver with that quarterly RNS.

That Ernest Giles news was really significant for the exploration success of that project and it reinforces the next drilling campaign under the London target.

What we don’t know is the mineralisation but what we do know is all the shallower drills at Scallywag have been distil to the source with all the drills finding small amounts of mineralisation normally found at the peripheral of a source.

Going deeper seems to be the obvious choice, it’s where I was looking at a few years ago after the original drills . There were sections of Kraken to London in an RNS which showed the syncline.

I posted this in my WhatsApp group showing the drill traces just hitting the top and not going deep enough.

Whether these new drills are deep enough I’m not sure , 3 drills of 500m each is not much deeper than before. I would like to see one at least to a 1000m but could be a precursor of sending survey tools down to get a better idea to send a drill deeper.

1000m there should not be a problem, if it is the Havieron boxcut could be a central hub for surrounding targets. 6 km is nothing in Decline terms.

Olympic dam has nearly 50km of declines.

Red Chris has 9km.

Paulsens mine has an incredible amount. Go to the 3D website and you can find Paulsen.

Going back to EG, the 2 tenements to the east now approved, I picked this up from landtracker website a few weeks ago along with the 2 at Woodlands and one more at Yennarie.