RE: A critical view of the Hannam Report23 May 2020 17:09
By using a bottom cut of 4gpt they are actually vastly underestimating the HG zone.
google what a top cut and bottom cut is mate before commenting on it.
Also google internal dilution, payability and IRR. Also google Cadia Underground Bulk mine grade. Google Cadia ASIC.
Sorry mate you are just talking absolute sh*t and once again you think a resource is a calculation on how much gold there is in totality...it isnt.
A resource is an economic calculation based on the drilling at any given point in time. if you dont understand that you will never get it.
H&P have actually produced a decent piece of work as an initiation that leaves multiple waypoints for raising the target above 12.9p. an initiation note is designed to alert clients to a situation they believe is going to improve over time. otherwise they wouldn't have bothered to do it.
note - if you have no f*cking idea what you are talking about stop posting "calculations". its getting boring.
Also 30 years in global mining industry reviewing projects can I just say what a fantastic, accurate and entertaining presentation. For anyone thinking of investing in any gold company but especially GGP this is mandatory viewing. Your insights are superb (espec the post min dyke) as have been spending much time mulling these issues myself.
Absolute ripper. Made my day. If you had a weekly radio show on geology of global deposits Id subscribe.
BHP have got ball-deep in SOLG and probably cant get out of it. Reckon Newcrest will offload their stake to them as soon as possible. Sandeep must be stoked BHP got sucked further in cos gives him an excuse to get the f*ck out.
SOLG not a Tier1. Just Cu optionality in a pretty sh*t country (129th out of 190) with no infrastructure.
Anyway enough from me for a while. See y'all soon.
think you covered it. Qtly was a belter. They already started the step outs and its Q4FY anyway.
Was not expecting the $1B raise.
saw someone had the numbers about right the other day on the decline. 7-1 about 3000m to get to top of mineralistion + development drives and drill rooms. probably a 6m diameter not 5m. vents and risers plus topside box cut and infrastructure.
tunnelling, development drives and vents say A$35m, topside emergency and box cut A$10m. dewatering not clear yet but assume bugger all say $5m.
probably more for that for Red Chris given dewatering and double egress requirements on operating mine. Say A$100m.
Fruta Del Norte A$500m.
Raised $1.1B + A$600m draw down + A$1B other liquidity.