Petro Matad funded for its drilling programme which should see production start next year. Watch the full video here.
*Improving their exploration capabilities
- Thinking outside the box by using machine learning to analyse historical public data of Australian wide geochemical data to identify and rank potential targets of bigger ore deposits. Also applying to other jurisdictions.
- Adopted use of two Truscan units at Red Chris (XRF instruments) as part of core logging process to photograph and scan cores to give real-time metal values at the time of drilling to enable real-time decision making in regards to drill planning and rig location.
- This is helping to circumvent issues being experienced through industry wide assay delays and turnarounds experienced over the past few months.
- Advantages include being able to ‘log smarter’, geo’s have the geochemistry to hand before starting and they’re also using machine learning to identify basic structures lithology to help focus their efforts and move away from metre by metre logging to speed up the process.
- Closes section by mentioning they’re doing a similar exercise or just starting that journey up at Haverion.
*Deliver value through growth and exploration strategies
- Through three pillars:-
- Partnership: most of their projects are JV’s or option deals, it is their preferred method as helps them to capture good ground and work with really good groups to share knowledge and also learn from, are always happy to review projects with anyone as constantly looking for something new.
- Leverage off exploration DNA & Technology
- Mining capability is key as not only can they explore deeper but can also turn these all around.
*Answering a question from the host about dealing with challenges from increased cost of mining services and the lab delays
- The 21-day turnaround they aim for is currently out to 40-60 days like most others.
- Another industry challenge is obtaining good drillers, geologists and support staff, so they are helping to develop the next generation of personnel.
- Shortage of resources and price pressure really keeps them moving.
*Detailed look at Havieron
- 400m of cover under which they’ve seen mineralisation to at least 800m below that.
- Deposit is centred on a NW trending corridor of calc silicon alteration, surrounded by better embedded sentiments (variable intensity of alteration in that zone) but alteration and mineralisation is centred around the NW trending body of diorite dykes.
- Mineralisation and resources at this stage predominantly hosted within the SE Crescent which if stretched out below unconformity would be about 500-600m long and 20m wide.
- It’s funnel shaped so as you go deeper to about 800m into it, it is down to around 200m.
- Intriguingly, as you go deeper they’re seeing some significant grades and some of the better intercepts at depth are listed on his presentation slide. Slide also shows intercept drills below 4400m RL with plus 1-gram intercepts, so gives you a feel for the extent of the mineralisation.
- Deposit is associated with variable amounts of sulphide quartz and carbonate that forms in brushes or vein infill in a typical Hav style mineralisation.
*Growth program in place
- Testing series of exploration targets to support potential resource growth in three main areas over the next 12 months.
- SE Crescent Deeps (HG open at depth): drilling sitting below resource is still open with significant intercepts, trying to define extent of the higher grade and continuity of mineralisation
- Northern and Eastern Breccia Targets (Open HG Mineralisation): NW Hav trending corridor hosting two zones of higher-grade mineralisation in N Breccia and NW pod. Drilling around these to define footprint of the higher grade and to see if the corridor links into a bigger single zone of mineralisation.
Work on Eastern Breccia is early stage with only a handful of holes into it so they don’t currently understand the geological controls and dimensions of system, but encouraged by some good intercepts and presence of HG which could indicate the presence of an additional NW corridor, currently testing this concept.
- 3 new targets within Hav proximity: with potentially similar Geophysical properties, so again the question is, are there more Hav’s floating around Hav?
- The targets are named: Zipa (Gravity), Havieron North (Magnetics) and Meco Gravity) - image link below:
Key points from NCM Diggers & Dealers Forum - Aug 3rd 2021
NCM General Exploration Mgr. Fraser MacCorquodale presentation focused on exploration and growth strategy
- Leveraging off mining & exploration capability, technology, innovation and collaborative relationships with their partners.
- 3 keys areas are Hav, Red Chris and additionally some early-stage growth opportunities in other jurisdictions.
*Looking Deeper and opening up new search spaces
- Differentiate from peers by targeting belts where they can find higher value deposits and bring something to it and their partners through their experience and capabilities.
- Two main focus areas are the Paterson and W.A through Telfer and Hav and also the Golden Triangle centred on Red Chris.
- All about growing resource space to leverage off existing infrastructure.
*Why does Newcrest look deeper?
- They feel that the top 100 to 200m in outcrop areas is pretty much exhausted, however if you go into these regions and look deeper under cover, there are still great discoveries to be made.
- Top success stories of late are from companies brave enough to look deeper, with the best example being the Hav discovery by GGP who were brave enough to drill over 400m under cover with holes up to a kilometre deep and the rewards for both NCM and GGP have been fantastic.
*Newcrests experience in deep exploration and mining
- Started over 20 years ago at Telfer and continued at Red Chris and other provinces.
- Newcrest developed their extensive skills in bulk underground mining capability by looking deeper and developing techniques to extract these minerals.
*Most recent exploration success is at Hav
- Located in Paterson, W.A, 45km east of Telfer under 420m of cover in a JV with GGP
- Hit ground running over two years ago with aggressive drilling campaign with over 180,000m of drilling to date despite serious factors such as the pandemic and wet weather issues to contend with.
- Amazing job by team to outline a large area of mineralisation leading to delivery of an initial inferred resource in Dec 2020 of 3.4 MoZ of gold and 160,000 tons of copper and a growth program is in place right now to grow the resource space.
- Also they’re not just looking at Hav, the question is if there are more Hav’s in the district as the style of mineralisation being seen at Hav usually performs in clusters - so where are the other ones?
- To this note they have two active JV’s in the region with Antipa and GGP, who are both technically strong groups they love collaborating with. Both projects are managed by those companies and right now they have drill rigs churning away drilling under cover targets.
Freddie -hopefully you will feel different in 12-18 months mate, most fo us are trying to help each other beat the odds mate.
Go back and look at Paddy's history since say late 2019 and work out if his sat updates were useful in any way in predicting the potential footprint of Hav and additional targets, or observations such as the screenshot 13 months ago on Callum's background that started the speculation on other targets?
Reddirt recently tipped us off on the road applications too, exactly what that means is open to conjecture but is it not useful information and indicative of something positive? Go through his posting history too - very interesting.
This board and the telegram group more than any I've seen on other stocks has been instrumental in picking up on potential positive developments. We've had Banps and now Norf sharing their expertise on Bottles Podcasts and they disagree on certain topics, so hardly evidence of a single narrative being pumped up.....
Plenty of us taking time to post thoughts and analysis here are doing so to help each other out - rather than pumping and dumping mate.......we obviously forgot the dumping bit considering we are still here lol
I definitely see both sides of the argument HH , and if you're going to do something - then do it properly I always think, so why not go for a dual purpose unit. Hopefully in Phase 1 they come across something compelling enough to go deeper, but I can see the sense in the approach they are using as still a lot of initial work to do to understand the system better and check their theories are sound. Bill certainly has had a nice disciplined approach to exploration to date.
Perhaps once there is some cash flow from the iron ore, your suggestion might be more amenable to shareholders given the amount of exploration potential at EH and the surrounding area :-)
I m sure he has been working in tandem without it being a struggle in terms of time management on both the tailings and trying to move ahead with EH drilling and probably like many struggling to get hold of equipment and personnel. Newcrest brought up these issues in their Diggers and Dealers presentation yesterday in terms of equipment, hiring personnel and lab delays due to various factors and how they are trying to combat and deal with them.
We're small fry compared to the likes of NCM so going to struggle even more when operating in the same locations than they are to solve all of these. Iron ore could well attract a JV before EH would have IMO if we were further along - so I think he is prioritising this correctly. Perhaps the silver price will be also be more attractive next year as it certainly hasn't hit the optimistic targets some analysts were forecasting.
When it comes to explorers - I'll take progress and good results in whatever form they come tbh LOL
Regardless of what happens short term, both Hobo and sunset haven't called things particularly well and neither seems overly concerned or clued up on the fundamentals - very much a trading mindset, so even if not trying to purposefully annoy they will often clash with someone looking at other factors.
Sure, sunset more often than not these days is a cheerleader vs his old troll persona but I can't say he has predicted things well, not because he is an idiot - just that it is very hard to do with a fast growth stock IMO.
From Day 1 in jan 2020 when I bought in, it was because liked the potential of the Lenovo rollout being agreed (having looked at their growth strategy) and Dev's products, the pandemic was a strange curve ball in putting up blocks in some ways and also emphasising our value propositions in other ways.
There have been so many unexpected positive news and developments since then with acquisitions, partnerships, new projects and contract wins, HNW investors, influence via the BAIG, India now becoming the go to geo for growth since China's buttoning down and we're making serious headway and way ahead of other peers who too will be looking at India now - too many to list in detail - and we still have another material contract to be announced before EOY.
IMO - I feel very secure in my investment and long term position - despite the SP volatility or consolidation periods we've experienced at times :-))
Also Shuan has stated repeatedly now that a purpose of the PFS is to support the 'fast start' such as the decline as they need to justify the expenditure and confidence shown in doing so, go back and watch the latest interviews and observations made in regards to the purposes of the 'graduating studies'. It really has been a wealth of information of late culminating in the bonus that is confirmation of new targets etc. :-))
I'm thinking that theoretically the trials should be over by now but of course that depends on exactly when they started.
Would be good to get an update along the lines of the trial has now completed perhaps if any NDA in place allows at least that of course.
As for Claytons, all he said was that they were discussing the project with interested parties, I only expect him to report a positive outcome. If we don't get a JV agreed with any of these aforesaid parties, then I expect we won't hear and will just have to assume as much.
SB 'misses the point' far far too much for my liking but each to their own :-)
As for GGP silver horsey - today's news - new targets confirmed by Newcrest, new access roads applied for where you would think old ones might suffice on other exploration targets...... all pure speculation but again it is 'potential' that GGP /Newcrest may or may not deliver on as being discussed here last night with UFO.
I really sympathise with those sat on capital losses here and there - and am not going to criticise those voicing concerns and blowing off steam, but they either exit as Jem or continue with UFO or perhaps reduce investment.
I know it is a difficult decision but you either believe in the projects and Bill and the teams capability and ethics or you don't - you must make the decision for yourself.
Best of luck for all going forward like myself or those choosing to cut present losses - investing and trading are very stressful when things are not going your way as is anything related to risking your life savings and pension........
It's not just GGP though Freddie, many of our peers are down, however at least the fundamentals keep getting stronger so that when sentiment does return, we'll have a stronger case amongst similar peers to regain interest. Also, so many PI's are now looking for the 'next GGP', how often do you see that phrase on other boards?
They want to load up on a stock at very low prices to then enjoy the growth GGP did in 2020, it is far harder to visualise GGP ten bagging in short term vs an explorer finding their own Havieron to them. What has happened here (and still developing) is one of the biggest discoveries in many many years, we got extremely lucky and most of those explorers are still in essence firing blanks.
This is now a different kind of investment proposition with less risk, less explosive growth perhaps due to the reduced risk but we have just as much a chance of another discovery as the other hopefuls IMO. As Shaun has said, a quarter or half Hav will be more than enough to add value to share holders and Hav itself is far from fully explored, they are going to continue exploration in parallel with production through the years.
Look at Newcrest's presentation title too - Delivering Value through Exploration.
Deffo agree - very interesting learning more about your life HH :-)
One of the admins on GGP's telegram group Liam (BottleRocket on LSE) is interviewing interesting investors about both their thoughts on GGP and their lives - I know you're not heavily invested there but nonetheless, perhaps of interest?
He's interviewed Bamps twice and the first one was interesting learning about his life. He is releasing a new one tomorrow with a telegram poster who seems to work in a scientific field ........I'd love for him to interview you:-))
Definitely sounds like your life would be worthy of a biography HH - very intrigued my friend :-)
I'm a couple of decades or so younger than yourself probably - but I do agree with not being defined by the standard template of life and certainly decided to try and live mine as free of depending on a wage from around 30 years of age too after realising how unhappy older people around me looked in the drudgery of decades of corporate life lol
I don't think you are eccentric as I totally agree on the life long learning in all kinds of things from DIY to martial arts to continually learning in various fields that interest me, indeed I am pretty good at web and graphic design for a non professional and as for IT I never needed any help in that regard. But it is fun to collaborate too with others, exchange ideas and so forth :-)
It isn't always fear, some people actually just love one thing above all others - writing and playing music above all else as an example for one person or perhaps a writer that does little else - we all differ. For instance, there are millions of 5 year olds who can draw better than me, even at middle school the art teachers were almost insulted by my attempts lol
There is never an ultimate correct answer to anything, but when I look at this sector there seems to be a very well proven route to monetising a viable discovery along the routes of JV and how successful explorers operate - but as you say - you are invested in other explorers that do well from it so not questioning your experience, just playing devils advocate!
Might be worth submitting a question to Bill in a future Q&A and we've both debated this to death - but guess it beats reading arguments :-)
p.s if you ever tire of those replica notes, I'd be happy to give them a new home!
I get what you are saying and I'm actually a business and marketing consultant so will try not to be offended lol
There is another side to any argument HH , in that a business is best focusing on it's core activities. I worked for one of the largest tech companies in the world and they still outsourced various functions, in fact in one of the roles I worked in a role similar to an account manager in an internal marketing agency set-up, whilst they also outsourced much of their advertising too so we parked in parallel and sometimes in competition with them as we criss crossed many areas. Eventually they went the route of outsourcing everything related to this as oppose to keeping their own staff.
For instance, in terms of marketing, say you have a UK company generating £5m revenue operating in the UK and a few overseas European locations, they might have a small core team for marketing - however, there is no way that core team will within the team have capable copywriting, web/graphic design, translation, animation capabilities alongside business and market intelligence too. I don't have an engineering or mining background so hard for me to translate in those terms :-)
There is a limit to one's capabilities along your natural strengths and weaknesses and the same applies to the running of a business. I've set up and run a business and helped countless others set up and run theirs - you should absolutely not try and do everything yourself, it is inefficient in it's own way :-)
Sounds interesting HH and certainly I have heard the saying and again it reflects how rare it is for an explorer to find economically viable discoveries.
I guess in basic terms, one could look at the cost of acquiring, operating and maintaining a drill rig VS estimated costs via a contractor to help calculate ROI across planned exploration campaigns.
Other factors in play such as whether there would be more or less likelihood of effective use of drilling through running your own team or through hiring a contractor with decades of experience and the ability to replace a faulty rig, ill staff etc.
If it is so effective to own your own rig HH, I do wonder playing devils advocate - why don't more explorers do this? :-))
I do think that wherever you get a market opportunity it soon gets filled HH, as with the labs now making investment in shoring up their capabilities due to the boom of exploration in the jurisdiction, companies operating in Oz in providing such services to support exploration and mining are probably doing the same, IMO we should start to see more equipment for hire too by 2022 regardless of demand outstripping supply at present.
Certainly a feasible route to buy our own rig but I'd be keener if we got a JV on Hammersley first so a partner picks up the costs and resource provision there, freeing up some cash demands at least for the short to mid tern until we need to co-fund various aspects of the project.