Member Info for Bamps21

When you take into account Newmont wanted $2bn for the 6 assets they didn’t want, the Telfer average works out around 12%.

This is worked out by the NPV size, also works roughly with the capex spend on each and also the ounces recovered.

12% of US$2bn = $240,000,0000.

Aus$1bn =US$670,000,000

One or more of the other assets must be selling below value.

We are not going to know what is going to happen with Havieron until the jv committee meeting decides on the next step forward.

Newmont will have to continue spending on the Decline, a quick sale could alleviate that problem. This would leave Telfer in an onerous position.

Hi Redirons

I think the drilling campaign this year may be muted due to finances around the negotiations.

However if the hold ups at Telfer do cause a delay then finances may become available for more drilling elsewhere.

Buxtons Royale and Shogun licences look really good too next to Tabletop.

They look like porphyry which is copper dominant, I believe Tabletop to be gold/ copper more intrusion related

Last I heard they were waiting for the results of the MT survey to decide where to drill.

I would expect Ernest Giles to take priority with funds for drilling it’s not so deep.

However drilling Tabletop could be a game changer.

The ground is very rugged though.

I was hoping they would drill it as soon as possible.

Those Venus rock chip sample results look mind blowing 2,376g/t and 21% copper.

Bring on the Tabletops drills Shaun 🤣

The other licences at Canning see here :-

https://www.ggpchat.co.uk/viewtopic.php?t=706

Buxtons Royale project https://buxtonresources.com.au/?page_id=762

Info on the 2 Tabletop anomalies

https://www.ggpchat.co.uk/viewtopic.php?t=215

Paddy showed me the consultants report, they are deep but sound so exciting.

Buxton resources are our neighbours with their Shogun and Royale areas, they are finding good results there.

There’s some historical evidence of diamonds at Tabletops according to the Australian government info, but I’ve not seen any evidence yet .

Ggp have completed their MT survey, the modelling for it should be super exciting. The historical report showed modelling slices I’ve put one on that thread.

The consultants advice is to drill Tabletop 2 the smaller one first (Ggp have called this Target 1)

Ggp’s Tabletop 1 and 2 are to the NE of this new licence of Venus Metals.

Tabletop 1 is around 3km in diameter

Graphene v lithium batteries

https://www.ufinebattery.com/blog/graphene-battery-vs-lithium-battery-which-is-better/#:~:text=Improved%20Safety%3A%20Graphene%20batteries%20are,vehicles%20and%20energy%20storage%20systems.

Solid state batteries are coming very high tech, expensive but already taken over in medical implants and on the tips of wind turbine blades among other things.

Solid state for EV very expensive only suitable for top of the range models.

I agree with you electricians that copper is the favoured material for cables but if the price doubles, trebles or quadruples and the supply diminishes then other tech will come stream there will be no alternative. Hydrogen tech will have to succeed.

Depends whether you have Safari browser with a site cross checker on

Hi Bellers

Your thoughts are why aluminium cables never took off but the high price of copper is forcing this change of direction even in EV cars.

BT used aluminium cables but they are swapping to fibre optic.

How would a strong copper price affect Ggp?

In the sulphides is where most of Havieron copper is found. The top 3-400m contains 80% of that.

In the first 5 years or so most of that copper will be retrieved. This means copper production at Havieron will be hitting the high prices at the right time before new tech is coming on stream.

Even at $20,000 ton at 0.1% revenues would be topping $60m annually ( NB all profit if gold pays for everything)

It makes the weaker anomalies in most licences economical to mine especially by leaching.

At $40,000 for 0.45% the annual revenues go off the scale.

This has been circulating

https://www.ft.com/content/725234a6-9e6f-4a4a-9406-2bda667ca511

$40,000 ton copper price

I personally don’t think it will happen, companies that use copper are already looking at new tech and designs to change to aluminium. For instance in house wiring, the cables need to be a lot bigger diameter than copper ones , so the house designs have to be altered to accommodate these.

There’s a thread on JLP about this:- from Gray1

“At $40k/ton that would increase the cost of a 1.64MW wind turbine by around $140-$150k.

They are already getting too costly that no company made any offers for the last round of wind turbines to be built as the price per MW the Tories were offering weren't worth bidding for.

These predictions of $40k and $50k/ton are just ludicrous. He is a hedge fund manager talking up his own commodities fund been right in the past but also been wrong. All they are doing is extrapolating shortage of supply v increasing demand and making no account of changing technologies.

Already work is being done on increasing aluminium conductivity from 60% of copper to 80-90%. Aluminium is being considered for underground cables as well as wind turbines replacing copper or using a combination of both. Overhead electric cables already use aluminium. Work is being done on replacing copper in electric cars with aluminium derivatives. Decreases the weight of electric cars.

Business isn't going to standstill and let copper price them out of the market. Demand will drop off if the price of copper makes things exorbitantly expensive. It is more complicated than saying supply 200k tons demand 250k tons and increasing therefore copper gets exponentially more expensive.”

There’s still a lot to find out about Ernest Giles but the last piece of news about the banded iron formation sweeping right around the northern section was quite outstanding.

Lithium and potash all around EG is another and zinc to the NW.

I asked a question on Aim on air last June

“Okay thank you, Bamps is asking has the potential supergiant zinc find north west of Ernest Giles enhanced your opinion of this license and how are we going with the plans there?

- Look, Ernest Giles doesn't need a lot to make it better. But yes, exploration success in that postcode is always welcome and nice to observe and understand if there's structures from that that we can learn from. And again, I have great confidence that exploration team to try to decipher that and understand what opportunities that creates for us.”

Supergiant!

Super exciting 🤣

Panorama is probably are best licence for lithium but as yet there’s been nothing announced by Ggp. This is historically driven looking for gold and cobalt then finding nickel.

You can see here what neighbours have found but there is lots of pegmatite all around and outcropping at Panorama.

https://www.ggpchat.co.uk/viewtopic.php?t=428

https://www.ggpchat.co.uk/viewtopic.php?t=239

Bromus is also in a lithium area and so is Ernest Giles. I’ve done a big thread on that last one on Ggpchat.

The forthcoming drilling season may include:-

Paterson South- results from the heritage survey may allow drilling on Skylar, Wilki Lake and Basel

Scallywag- the results of the MT survey has highlighted the potential for a deep drill near Kraken ( the IP drilling years ago identified a huge magnetic body deeper down, the drilling of Kraken targeted the shallow gravity/magnetic convergence)

There are 2 other areas that await the drill rig Canning and Pascalle not sure if these will be in this current year.

Ernest Giles:- an RC drill campaign has been planned for the current season.

Basel has 3 known targets close to the Juri jv border.

Wilki Lake according to Callum in one of his interviews could be the source of Telfer ( that would be deep down though, too deep to drill but it could have pushed some magma upwards as the structure map indicates a circular anomaly).

Skylar has been drilled in around 2014 but the firm were only looking for potash so only did shallow holes. There are large salt flats in this area.

A lot of other activity including heritage surveys, geophysics and other surveys are continuing on a lot of the licences held.

The Scallywag MT detail is what I’m looking forward to.

The 24th May image is showing little change to the evaporation ponds. The bottom right one has now turned white, this is salts left behind by the evaporation process, the other 2 still look a pale green colour.

The Telfer pond is still the same no visual signs of activity . The ring of rectangular holes to the SE and NE were a dark colour indicating they were full of liquid, well these are turning white obviously drying up.

I can’t see any evidence of stockpiling from the underground mine but it might be too small amounts to pick up off this image.

Lake Dora has nearly all turned white.

Rainy season behind us, drilling season can start.

That ramp was for all my favourite critics 🤣🤣🤣

All the items that could propel the sp are all starting to line up, but there’s one difference now to before Newmont joined in, they’re all getting squashed together.

We’ve had a bit of up and down and up again phase which caused a bit of a stir.

Just think what’s going to happen when the serious news drops on the table , one after the other 🤣🤣🤣