Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
So looks like Regis Resources and Gold Stone Reources might join the bidding war for Telfer which as we all know must include Havieron. So we may have Regis, Goldstone, Wyloo and possibly Rio in the bidding war. More please
https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a_GGL&dest=https%3A%2F%2Fwww.theaustralian.com.au%2Fbusiness%2Fdataroom%2Fbuyers-line-up-for-newmonts-telfer-mine-stake%2Fnews-story%2Fa3af743f8eee448a4d6af1f8379bf23b&memtype=anonymous&mode=premium&v21=GROUPA-Segment-2-NOSCORE&V21spcbehaviour=append
Thanks MH01. Regional processing hubs are becoming more important now with the focus on environmental concerns and carbon footprints. If you look at De Greys Hemi mine, they are looking at bringing ore concentrates from over 200 km away to a central hub. Ore processing is the biggest CO2 output from mining so one large highly efficeint regional hub makes sense and will be looked at by "green" investment funds- especially for Copper. Telfer will be the regional hub for the whole Paterson and a very valuable asset for us.
Antipa have a 3 million oz resource at Minyari Dome. Intense exploration / drilling programme so this should increase. This is only 35 km from Telfer. Like Greatland, share price extremely depressed so I can see Greatland aquiring / merging with Antipa when Greatland lists on ASX. I can also see Telfer being a processing hub for deposits even further afield. I can see Rio Tinto having a concentration plant at Winu, ~ 100 km north of Telfer, and the concentrate transported to Telfer for final processing at a charge. Telfer will therefore become a very valuable regional processing hub which Greatland will 100 % own together with Havieron.
Https://www.watoday.com.au/business/companies/desert-gold-newmont-in-bid-to-convert-mines-to-cash-20240223-p5f7bc.html
Interest already shown in buying Telfer
Its at times like this that I am reminded of 2 quotes by that famous investor:
"He who dares wins" and
"this time next year we'll be millionaires"
They only reported outcrop sampling again. The drilling did not find anything !!! You need high grades in drill core over a considerable distance. I think when the Aussies get on to this it wont be received favourably IMHO GW X
Archaean gold tends to be concentrated in narrow zones, usually in quartz- called Lodes. Gold occurs in patched within these zones so you get the "nugget effect"when sampling. Samples over a small distance of over 2000g/ton gold are not unusual. You have to lookat the whole narrow zone and 12g/ton is pretty normal. That the reason why the ASX has not reacted. Completely different from the Havieron mineralisation.
Its becoming obvious the regions close to the Havieron Fault are the most prospective. The Rio ground at Stingray etc is too far away. Black Hills I think still has potential and further NW , Antipa have been getting some good results at Minjari Dome and shallow open cut prospects only 35 km from Telfer. Going further north west, Antipa have some great Havieron-like targets - Pixel and Tetris which are being drilled at the moment. This is nearology. Watch for Antipa results- Greatland could take them over or go into a JV.
Tom Palmer CEO Newmont- " In Paterson Province you have the Telfer Deposit itself, you've got Havieron and other opportunities that may exist around that area. You would want to have a good long, hard look at Telfer before making any decision"
The reason that Newmont took over Newcrest was the increased exposure to copper they want in their portfolio. The Paterson will provide this so it is a no brainer to keep Telfer/ Havieron
Dip
All results and announcements of Australian assets will still be under JORC standards. Newmont and eventually GGP will be on the ASX and this is mandatory. THE JORC standard of reporting exploration results and mining reports of resources and reserves is the most robust in the world. The American standard SEC is not. On June 16, 2016 the SEC announced that it had proposed new rules to modernize the disclosure for mining properties by aligning them with current industry and global regulatory practices and standards like JORC, and that the proposed rules would rescind SEC Industry Guide 7. This will align the SEC practices with the rest of the major global stock exchanges. As far as I know SEC have still not aligned themselves with the rest of the world but will have to report this way for their US investors
Newcrest delists from ASX on 26th October after close of trade on ASX, TSX (Toronto Stock exchange) and the Papua New Guinea stock exchange. Our (GGP) shackles are released then as this was probably the understanding between Newcrest, Greatland and Newmont. No big news before the take over is completed.
Greatland Gold plc (AIM:GGP) (Greatland or the Company) is pleased to provide an update on activities and developments at Havieron, the world class gold-copper project located in the Paterson Province of Western Australia, for the September 2023 quarter.
Highlights
Decline development: Progress continues with total development to date now exceeding 2,820 metres.
Newmont-Newcrest takeover: All regulatory, shareholder and court approvals received with implementation shortly.
Development update
Greatland's Havieron joint venture partner, Newcrest Mining Limited (ASX:NCM, Newcrest), released its quarterly activities report today, reporting in respect of Havieron that total development has reached 2,824 metres at 8 October 2023. The main decline has now achieved 2,030 metres of the 2,800 metres required to reach the base of the Permian cover. Development is now approaching the lower and final aquifer that lies at the base of the Permian cover.
Newmont-Newcrest takeover approved
Newcrest is Greatland's 70% joint venture partner in the Havieron project. As previously announced, Newcrest is currently the subject of an agreed takeover by Newmont Corporation (NYSE:NEM, Newmont) that is due to complete in November. It has been announced that all regulatory, shareholder and Court approvals required for implementation of the transaction have now been received, with implementation due to occur on 6 November 2023.
With the transaction now unconditional, Greatland welcomes Newmont as its Havieron joint venture partner. Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead. Newmont operates a global portfolio of world-class projects and is led by a highly experienced management team with a proven track record of project development and value creation. Greatland looks forward to the opportunity to work constructively with Newmont to optimise the development of Havieron, finalise the feasibility study and progress to a decision to mine.
Things are going to start moving now
https://thewest.com.au/business/mining/newcrest-and-newmonts-26-billion-mega-deal-set-to-spark-gold-rush-in-was-mid-tier-mining-space-c-12183018
A Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve. A Tier One Copper Asset is an asset with a reserve potential of greater than 5 million tonnes of contained copper and C1 cash costs per pound in the lower half of the industry cost curve. Havieron is both Gold and Copper so resources are calculated to gold equivalent
It is possible in the DFS that Havieron will be mined in 4 stages, each with their own economics and 2 of them dominated by Copper.
Stage 1. The SE crescent. High grade Copper and Gold mined by traditional stoping methods. Byproduct cobalt and other base metals adding value. The early stages of this will pay for the decline, mine infrastructure and exploration drilling. The perfect start to any mine as mentioned in PFS. Easy to see this being 12 millions ounces of gold equivalent as drilling shows high grades continuing at depth and open
Stage 2. Eastern Breccia. Copper with gold as a byproduct mined by block caving. Other base metal byproducts. The economics of this will be looked at as a copper deposit with gold paying for all the mining costs. High grade zones could be mined by stoping. Im thinking 5-7 million ounces of gold equivalent
Stage 3. Northwest breccia and pod. Copper with gold as byproduct paying for mining costs again by block caving. Possibly 3-5 million ounces of gold equivalent.
Stage 4. Polymetallic mineralisation. There are clear reports of high grades of other base metals at depth. All gold mineralisation in the Paterson is polymetallic so not a surprise. We will be looking at high levels of Nickel, Tungsten, Copper, Molybdenum, Cobalt and other metals as we get closer to the intrusive source. Gold still elevated but subeconomic but pays for mining costs. Possibly 2 million ounces of gold equivalent with a new processing line at Telfer - like the Molybdenum line at Cadia.
So copper will be very important at Havieron and "green" copper at that which is why Wyloo (Fortescue) are involved. This will be an important aspect of the DFS. GW x
The other company to keep an eye on is Artemis. They have had pretty disappointing results on their northern boundary of the Havieron licence. My gut feeling is the source of the fluids for Havieron has come from the South East which has been completely neglected so far. In this respect, the Enterprise target of Antipa on a gravity high could be interesting but GGP still have the best ground.