The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
The actual figure Paddy came up with was £8bn, which equates to £1.90 per share.
That's more than your £1.44, Mickey. Time for an updated note from you as well as Hannam?
I missed Paddy's £7bn valuation. That'd equate to £1.66 - which I'd love. I'll have a look back through the posts for the reasoning.
What I was going to go on to say is:
Quietly I am hoping it will stay down for a bit: I've just hauled an old motorcycle out of the garage to sell with the intention of putting the proceeds here.
Selfish, I know!
When I am in tinfoil hat mode I think that they engineer closes like this one so that it will appear to be several percent down at open tomorrow.
Obviously that's not what happens. That would be crooked.
Q
From Prof Q yesterday (step 3):
1. Google "Newcrest quarterly exploration report" and read them.
2. Google "Minedex" and search for either Havieron or 89453 there. Save the mine's proposed layout drawing and then:
3. Google "Sentinel Hub" and in the results choose "EO Browser." Set the data source to Sentinel 2 and the display to False Colour (it's clearer) and navigate to Havieron. Compare progress on site with the drawing. Scroll back through the images to see how fast Newcrest are working.
Navigating to Havieron is easy. Search for the Telfer Mine. East of there is Lake Dora. Halfway between the two at nearly the same latitude as Telfer is Havieron. There's a distinctive forked dune with a slice through it and a shiny camp and lots and lots of drill pads.
They supplied the stunt cars for The Man with the Golden Gun.
Apparently Newcrest use automated Epiroc vehicles at Cadia. There was a news article about it. I can't find anything that looks Hav-related but it may be worth looking out for.
Which order? Has a post disappeared?
My reading led me to the fact that specialised mine vehicles can have a lead time of up to twelve months which would mean Newcrest would need to be ordering now for them to arrive in time for the mining phase.
Do vehicle manufacturers announce winning orders like that? It's not my field so I don't really know where to look. Anyone else know about this? It'd be useful in squashing the Lassard orphan period nonsense if we found that the equipment was ordered.
I know it's pedantic but can we please not capitalise "fiat"? It isn't an acronym - it's Latin. The capitalised FIAT is the motor manufacturer: "Fabbrica Italiana Automobili Torino."
Sorry.
I will now return to silence.
If you register with Newcrest you get the update as soon as they release it, which will be on Wednesday evening in the UK.
Today's image is available now.
Lots to see!
Berenberg say 5.28p per million ounces. Their 66p unrisked target is based on the expectation of 12.5m oz being proved up. They uprated that expectation based on the MRE. Given the fact that Havieron is still open in several directions I bet the expectation of 12.5m oz will also be uprated.
Weekend fun: multiply 5.28p by the number of ounces you think Berenberg will eventually expect. I like doubling their 12.5m oz: that'd put the unrisked target at 132p.
Lots of potential still left here I think.
I seem to remember reading that Newcrest have their own laboratories, so there should be no delay.
The tracks north of the camp are much more prominent, too.