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The aquifer has been draining for months, yesterday’s sat image shows very little happening with the large pond drying up in my opinion.

The only thing happening underground has been the vent works and the 2 extract ducts coming out the portal do not look like they are there now but the image is inconclusive on that.

Apart from that little is happening.

Hi Big figure

Copper price doesn’t work like that a ton is 2201 lbs so $1 rise per lb is $2,201 per ton.

Anyway it’s the grades that give huge amounts, try working it out.

Low average 0.4% x 3mt per year copper

Middle average 0.6%

High average 0.8%

First Ore 2-3% ?

Let’s see what people get?

“Gold pays for everything ,

Copper is the profit”

The rise in gold and copper prices make a strong case for more economical ore tonnages in the resource and inferred categories.

The reserve boundaries are set , so the only way they can improve is the internal weaker ores become economical and the gold equivalent value calculations will increase.

You would be much better concentrating on the copper price, the profit on higher prices is enormous.

Investing in gold only companies misses the chance of a lifetime.

Oops $100 increase in gold price 🙂

It’s 35m per year for every $100m increase in gold

Here’s my calcs from an earlier post

“3 million tons per year

Sulphides 3.6 g/t

= approximately 350,000 oz @ 100%

AISC $1050 for gold only

Gold price $2,000 =$332.5m

Gold price $2,050 =$350m

Gold price $2,083 =$361m

Gold price $2,100 =$367.5m

Gold price $2,200 =$402.5m

Gold price $5,000 =$1.4bn

$35m for every $100 in gold price

Based on average grades not first Ore grades which are 6.75g/t”

I’ve shown my calcs for copper to L-A and he has just managed to get off the floor 🤣

Copper is the profit.

You will have to do your own calcs I don’t want to show Newmont 🙂

The average grades for the whole starter mine are around 0.4% to 0.8% but first Ore has grades of 8, 10, 12% right from the top, this will get diluted down as the ore is mixed and crushed on to the ROM stockpile but the chances of 3% look high in my opinion.

I did mention that figure to Callum and he remarked “it’s possible “ but it would only be for the First Ore.

3% is absolutely mind blowing profits if it happens.

Havieron intercepts have cut off of 0.2g/t and red areas shown are greater than 50 gram metres.

Antipa intercepts have a 0.1g/t intercept cut off.

If Havieron had a 0.1g/t cut off the intercepts show mineralisation over a larger footprint.

The open pit at Minyari has an MRE cut off of 0.5g/t so a lot of those intercepts would not be used in the Kriging estimate.

If you are thinking of investing only put in what you can afford to lose.

Hi Tug

Why do you want to buy Antipa?

At the Derby meet up a young chap working came and asked about the company we were invested in and wanted to know a bit about them. A potential new investor.

Reading this Board would put anybody off investing here.

A lot of people read but are frightened off by the obnoxious manner of some posters.

I have a lot of patience for newcomers and also people that have basic questions to ask and there are many of these.

All I would ask is that people tone down the manner of your responses, we need newcomers to the share.

Hi IrishJ and Wotnocas

I was glad to meet you both on Saturday, good to see you posting.

Thanks Rotherby for arranging a great meet up.

Was good to meet so many new faces 👏

Someone is confident with a 2m buy last trade from 12.27pm 6.075

( 12.37 pm trade buy at 6.09)

To me Shaun seems to be making a point that he’s going for the lot and will be very accretive to shareholders.

Shaun

“this morning you've openly stated that should there be an opportunity to consolidate the asset you will, would you care to expand on this in your own words on what you mean by it and why you would publish this in an RNS?

- well look we're excited and I think our shareholders should be as well about the opportunities ahead of us and Liam you know we spoke briefly just as you were getting kind of ready to set up the call about you know I joined in 2021

- I think I was reasonably open that you know I saw this platform having an opportunity to bring back ownership of Havieron 100% into the vehicle and in that regard you know I think we've built the organizational capacity

- we've brought in you know a very sophisticated board, the debt Banks which is undrawn that you referred to which was 220 million on a 30% basis that potentially extrapolates to a 700 plus number

- the strategic shareholder (note: Wyloo Metals) and now we have a joint venture partner which has publicly stated that within the next 12 months… I think they said this back in late February that they'd like to completed divestment

- so this an exceptional confluence of events and opportunities and look we think we're really well positioned to take advantage of that opportunity and you know there's the opportunity within that is important to us

- and I think people should be confident that we would think about that you know in a very financially disciplined way and I think I've got a history at Straits at Sakari and then at Northern Star of being part of teams that have been very financially disciplined and have managed to undertake transaction that have created value

- they were accretive to shareholders and I think people should have confidence about that and I don't know the future but I think people should feel that the team is working hard to position ourselves for that success”

Hi Dip

Telfer 2002 interesting read for the weekend

https://www.epa.wa.gov.au/sites/default/files/Referral_Documentation/A1445_R1059_Telfer%20ARI%20Report-main_0.pdf

Page 67 tailings management

You shouldn’t yawn while swimming 🙂

Https://greatlandgold.com/wp-content/uploads/2022/03/GGP-Growth-Update-Final.pdf

Page 12 shows the Ggp AISC figures for a 2mt mining plan

Difficult to spot but Ggp AISC $643

Then look at the centre circle top left in black “credits” $367

This has to be added to the 643 making a total of $1,010, so that’s gold only AISC.

Newcrest has a higher number I believe it was $1,060 which I believe is down to their accounting procedures or dearer admin costs.

The 3mt mine plan will have a higher AISC as the grades are lower, therefore more ore required to be refined for same ounces and more backfilling.

Having Telfer will be a huge asset.

There’s more Ore around and still a lot of exploring to do.

Ggp will be a leaner fitter owner of Telfer and will reduce the AISC in time.

Yes there’s issues but the Paterson is still in its infancy.

Parklands is close by and could be a good find 10-20 Km from Telfer.

The Wilki tenement of Ggp is even closer and Callum suggested that was the source of Telfer. Ggp are drilling that area this year.

Having Telfer will be very profitable eventually.

Newcrest exploring the surrounding land were looking for big margin finds, Ggp don’t need those big margins.

Hi Cheltenham flyer

Step back a bit from the 8.5moz MRE as that is a resource gold equivalent number including inferred.

The 3mt mining plan is for the SE crescent only, a tiny proportion of the total mine but very high grades.

This zone has a resource figure quoted as 3.5moz gold so the reserve figure is 86% of that. This is the ore they will be mining. Also 150,000 ton of copper converted 86% to about 130,000 ton.

The first Ore out is very high grade and will more than likely produce more than the average estimate I have quoted. Other areas may produce less.

The first 5 years in the top 400m will produce from memory 80% of the 3.5moz, this is due to the shape of the ore body producing less per year as it goes down