RE: Tomorrow today19 Feb 2026 06:40
Hi Hopefully
Thanks for explaining the reasons behind the shutdowns. I also had 4 other folk contact me about the weather and other issues.
It did affect my low estimation at the time and was a surprise to see the result come out at 82koz.
My estimate 45-50koz and I wasn't that far adrift, I can hear all the scoffs at that but looking at the latest production table I believe there to be around 30koz or so unexplained where they came from.
My thoughts went straight to the ROM high grade. Just over a million ton was used. I've been following that on the satellite images and that came from east of the leach dump then seemed to stop.
30koz from the 82koz is 52koz which was higher than what I could estimate from the mine plan. Not a lot of that came from Stage 7. Last years MRE images clearly show inferred ore right at the top in a small zone in the middle and on the left hand side patches of indicated and inferred. Standing on the top of the saddle the benching drops away both sides 35m down to the next bench, this has all gone most as waste to the new mound area, some of the inferred to the dump leach and indicated to the ROM pad.
The next bench down is wider and contains a bit more inferred. This surface would be too small for more than one of those big machines to work there.
The main ore ounces came from a patch in the centre of Stage 2 in the base of the pit, where they infilled drilled at 12.5m spaces. Most of this has gone as can be seen in the image of mined areas.
The other area was halfway up the western benching not long ago they were drilling it. They've called this Stage 8 but it's outside the mine plan, so they've cherry picked the reefs in the side of the pit, this indicated material can also be seen on the MRE. I'm not sure how much of that has gone. All waste above that area.
My estimate didn't include for that Stage 8 or that zone of high grade in the base of the pit, this can be seen in the drilling cross section of the pit
Using 1+mt from the ROM would need a grade of 1 g/t to get 30koz which is reasonable but you couldn't use all that in one go. It would have had to be blended with the weak ore from the pit to lift the Head grade going through the plant. This can be seen comparing last quarters with this one
Overall you can see its being micro managed very well, all hats off to Simon Tyrell whose leaving Telfer in a very good state.
The challenge with processing stage 7 Ore is that it is oxides, this plant was converted to sulphides. I'm not sure how they are processing them together, stage 2 base is sulphides.
You can see where I was coming from the transition in the next few quarters will be challenging with stage 7 coming on line and low grade integration.
Looking forward to next Tuesday to the Malvern meeting , there may be a couple of spaces if you still want to come. Check out the thread on Ggpchat. I'm off for another break.