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Another terrific post from Tiburn. Thanks.
Just in passing, we are only a month or two away from the AGM in London that we attended last year. This year it could follow some really interesting news releases. I intend to be there. 🤩
Had to sell a few today:
05-Sep-1816:08:031.2551,500,00018.83k
Holiday & a few bills to pay, so needs must. Still holding a few million more but nowhere near Beetham, PJ, MTR or Starvest. I think Tiburn's timeline is too early unless GH releases Meadows results in stages. That would be a mistake after the Havieron core 1 experience.
Thanks for your posts Wannabe & Stuart - I agree with your EG RNS strategy. However, with all the exploration technology that has been thrown at Meadows, incl. DSG, my sense is that there has to be commercial grades there. We will know by the end of this month.
We usually get a brief comment from Stephen Beetham, after announcements like this, along the line that you cannot unfind a gold discovery. I point this out to newcomers as he was holding over 4% of GGP shares and increased during the recent placement.
Another point worth considering, for those disappointed by the EG results yesterday: The holes at Wishbone, Empress and Carnegie were at sites prospective on geophysics surveying & MMI sampling. We still await the results from 24 holes at Meadows. This is the only area of a GGP license that has been surveyed using Newmont’s DSG technology. It may come to nothing. However, it may turn out to be a staggering discovery. I sense that GH is keeping low profile on EG until all the lab assay results are delivered.
If there is more gold proved up at Meadows this time next month, then this could become the priority asset for monetisation.
Apologies for late input to this discussion.
GH did not specify assay results in 2 weeks. It was Andrew who said it about Black Hills from 2:30 in the interview https://m.youtube.com/watch?v=1BC9ADZ17TE
I think the announcement of drilling results at Meadows will not be for weeks. The last 23 hole rc drilling operation started 11 Oct. 2016 and first results were announced exactly 3 months later. The 2017 EG drilling started before 22 June. We know the labs are busy so results should drop end Sept (my guess).
Patience should be rewarded.
Several of us shareholders on this B.B. are hopeful of really big news from the Carnegie hole results. My guess is that it was the last hole drilled at EG and results will not be announced until October.
http://www.proactiveinvestors.com.au/companies/amp/news/203608
A recent sulphides find in the Western Desert of Australia. Look at the colour of the rc cuttings samples. Compare with the rig scene at the Greatland video of 8 Aug.
Tiburn, Professor1 & others have pointed out similarities in the Sirius’ Resources presentation about the Nova nickel sulphides discovery in 2012.
Patience necessary. It takes time to prove up a mineral resource.
Newmont themselves have successfully used DSG to extend the resource area of their Long Canyon mine in Nevada.
http://www.womp-int.com/story/2016vol09/story025.htm
Read the section on ‘Adding Ounces by the Bit’ and the para “More recently, through our R&D efforts . . .”
Clearly, gold discoveries are made after making a variety of surveys across the land. Aeromagnetics is the starting point & was done at EG. 3D IP is useful new technology that has brought results at Firetower and has been done recently at Black Hills but not at Meadows. MMI survey results from Meadows this May broadly reflects results of Newmont DSG and served to outline the locations for the recent drilling campaign.
Latest surveying technology is all important in making decisions. Many of us will be disappointed if the Meadows assay results are not boosted by the variety of surveys they have made of this location.
Only a few weeks, at most, and we will know. And then there is the wild card that is Carnegie. Now, that could be an unexpected surprise !
Tiburn had the best chronology of news timings.
I have made some comment on timings that you can easily check. The all important RNS on drilling assay results from EG Meadows will drop early Sept. majority opinion, not just my own. Look how long it took to analyse 23 rc samples from the 2016 drilling campaign.
Havieron core drilling starts in September & we will all be wanting to know when those results are expected.
The other spotlight is on Black Hills, where 3D IP geophysics survey is about complete. If computer modelling takes as long as it did at Firetower, then an RNS can be expected in Dec., although somebody was of the opinion that it would be faster & some core drilling would be tagged on to the Hav programme. GH has not specified to date and it is a fact that the weather window is closing in the Western Desert in the Oz summer.
Greatland again posting matchstick / rock sample photo from Black Hills. Old news being re-hashed. The last time they did this & I made some sarcastic quip about a TV promotion for Aussie Gold Hunters, I was immediately blocked. I do not want to sit on the naughty step again, so no comment.
I am thinking positively - maybe they are saying the 3D IP geophysics is concluding at BH and the computer modelling will show a massive mother lode of gold.
Agree Jambo.
If he narrows the focus, then GH has made it clear that Havieron is top priority. Further 10 hole core drilling starts next month but still may not be enough to value the asset to ‘monetise’ with a mining company. Results of next core drilling will not be released after the first samples analysed because the share price crashed after the last experience HAD002, 3 & 4. The share price could still be volatile at the end of this year.
Some interesting opinions on the B.B. today. It is worth looking again at when we can expect results announcements.
The big one we are all waiting for is EG. Personally, I do not see the assay results being released piecemeal. On the basis of time taken for the previous 2016 drilling campaign, I do not see results from Meadows being released until mid Sept. If Carnegie, Empress or Wishbone were drilled first, then those results could come before end August.
According to the GH phone call with Proactive today, the IP geophysics survey is still ongoing at Black Hills. Today’s announcement about Firetower ramps up the importance of that same 3DIP surveying by the same contractors being done at BH. Look at the time it took to process the results: We had almost forgotten about Firetower!
Survey work started mid-April and results were announced today. That is 4 months surveying & modelling.
Black Hills RNS on 3DIP interpretation might be released before the end of this year. We might get a teaser on surface samples analysis in the interim period.
Anyone else care to offer revisions of timelines & not share price forecasts? 🤩
Stuart, vic, NMN - that makes 4 of us regular posters on LSE who have been blocked by GH. I learnt my lesson not to be openly critical of GGP and I do value the comments he makes to promote the company and ongoing operations. He was right to block me and all of us can follow them again under a different name. Simples.
Rab, there are plenty of long-term holders here who are carrying a paper loss. If the assay results from EG drilling are nothing better than the 2016 results, then the SP will continue to move south. This is AIM indeed. We are placing a bet in the casino and nobody knows if that gold or nickel will be discovered. Those that have done their research are confident that by the end of this year the SP will be over 2p. By the end of next year it could be higher than 20p. Callum Baxter has proven that he can find gold at Black Hills & Havieron. There is much more on the radar screen. You can not un-find the discovery that has been announced but you have to continue drilling to prove the extent of a commercial resource and then GH has to make the significant step of selling the discovery to a mining company and obtain a fair price for it.
Time will tell and the more patient you are, the bigger return you will probably get on your initial investment. Some impatient shareholders who lack confidence in the assets and BOD’s will be cashing in at 2.5p or 4p. Stephen Beetham has said he sells at 10p. Wait and choose your exit point. 🤩
An excellent discussion, as usual, from Tiburn
I’m wondering about Paterson project timeline and we have an excellent example in Havieron as to how it might play out. GGP acquired the Havieron license from Pacific Trends resources for cash and shares. Deal was announced on 25 July 2017.
Ground gravity survey commenced 13 Oct / MMI surveys commenced 7th Nov. results announced 6 Dec. 2017 together with alerts about Scallywag target. Forward modelling results 14 Feb. 4 well drilling campaign started 18 April 2018. Diamond core results HAD001 on 25 June.
Within a year of getting the concession GH and CB were announcing a bonanza gold grade in the core.
Turning to Scallywag, and the fact that the southern half of the target resource is owned by Holocene (see Tiburn post). Would there not be some incentive to do a deal as was done with Havieron?
Another RNS to announce this?
PaddyGall
From the GGP website Paterson project info, half of the Scallywag prospect is above the southern boundary of Greatland’s license. The rest of the target anomaly is in a market ‘other’ license. It is marked Holocene but I can not remember any comment on who holds this area, whereas there was discussion on how Antipa & not Rio, had secured the concession immediately east of Havieron.
Who holds the rest of Scallywag will be a hot topic before the year ends & drilling begins.
Thanks for sharing your outstanding research with us, news.
Together with posts from Tiburn and Prof1 on Sat. morning, I am focussed on the outcome of the hole drilled at Carnegie, over and above results from Meadows at EG. The visual appearance of rock cuttings around the rig, as posted in the Greatland video this month, shows remarkable similarities with nickel sulphides host rock as shown in press releases from Legend Mining and the definitive discovery by Sirius Resources. Photo record 12:30 min
https://m.youtube.com/watch?v=TIk3nCBtuC4
Greatland identified the Carnegie nickel target from government issued electromagnetic surveying. That was the starting point for Sirius, who followed up with soil sampling. GGP have done MMI soil sampling to identify their drill location for the 2015 hole. Unlike Sirius’ & Legend Mining, Greatland have not yet spent money on moving-loop electromagnetic surveying. Regardless, of more significance in my view is that the previous end-of-hole was 300m and the hole drilled this month went deeper, to 375m. Discoveries to date have been at greater depth & under cover of overlying rock.
We only have a hunch, at this time, that Greatland have drilled up nickel at Carnegie. There is no science in comparing site photos. However, the cuttings samples have probably been recently delivered to the lab in Perth. It is likely that the assay results will be released before end-Sept. There will be no questions after that - good or bad - my gut feeling is that we will have commercial % Ni readings. If so, GGP will need the funds raised to pursue a 5 rig resource drilling campaign, just as Sirius did years ago.
JBG is a deramper found trashing the UKOG prospects. Let’s attack GGP this weekend.
On a more positive view, and picking up on a point made by another shareholder earlier - Nickel deposit. Take a look at the Legend drilling operation rock samples http://www.proactiveinvestors.com.au/companies/news/200892/legend-mining-extends-successful-exploration-methods-to-southern-portion-of-fraser-range-project-200892.html
compared to those in the GGP video: https://mobile.twitter.com/GreatlandGold/status/1026377159198162944/video/1
Would GH have joined CB in the Western Desert, 9 hours dust road drive from Kalgoorlie unless there was something historic to witness?
However, BTB would argue that it is all corporate theatre to justify his mega-salary.
Good post, news - duff link
http://www.proactiveinvestors.com.au/companies/news/202324
Are GGP disadvantaged because they have only done aeromagnetics & MMI sampling and not the moving loop electromagnetic survey at Carnegie?
The results of this one deeper hole at EG Carnegie may not be definitive. It could take much more time to prove up a nickel deposit.
Assay results in September?