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Hey Bamps I think we would simply be splitting hairs between 3-4 years. Estimates always tend to er on the conservative side so it could be shorter, but it should not be assumed they will not run into mine engineering and development problems along the way.

Tempering enthusiasm was pointed more toward some of the valuations being quoted considering the market would generally take into account the early development and growth phase of the company in valuing in these early years.

If the economics of a second decline stack up then I think it will be a given if they can ‘considerably’ increase ore feed to mill.

I would agree with that MH01, these early years will see an aggressive approach to their growth strategy needing all free cash flow to be put back into the business to begin to realise this before dividends are considered.

Is worth a polite reminder too to temper some of the over enthusiasm that from fy27 it will take 3-4 more years of Havieron UG devolpment for it to ramp up to the current mine plan throughput rate of 2.8mtpa.

So I believe the company will certainly want to grow its revenue stream year on year and to achieve this, resource upgrading, exploration, plant optimisation, Capital payback and be active in M&A activity will all need to take precedence to grow to a strong enough position along side its peers to be able to cope with any fall or fluctuations from huge swing in the global economic and political climate.

I’m no economist but I know progressive growth in early years is key to any successful company.

Part of a PR initiative or just being responsive to political posturing from Trump et al

Either way is going to raise the profile of Amaroq just off the back of media interest.

Exploiting the situation can only be a good thing particularly with the free cost toward marketing strategy.

Making it onto mainstream media, good exposure for AMRQ, smart move Eldur

Interesting to know what growth in revenues over next five years they forecast.

It’s not as though they haven’t received what is essentially an economic kick start to be able to build on straight from year 1.

Wouldn’t worry NtM , someone thought it made complete sense

Good interview, always feel Shaun wants to let on more than he would like, but my main take from this time were that they are confident of reaching their production level targets with really good optionality on plant optimisation in years to come.

That’s mainly down to the flexibility of Telfer’s dual train processing and the buffer of the big inventory of run of mine material. I think if they didn’t believe they could supply enough mill feed to sustain both trains we would be seeing a more tempered enthusiasm.

It’s a really positive indicator, as no one will want to see them run low on mill feed. No one more than Shaun, it would be considered a disaster for PR, their long term business plan and highly embarrassing for his reputation in Oz mining circles to under deliver.

Quarterly financials confirmed 👍

Hi Daz one thing I’ve learned is ‘any’ outcome in this game always tends to be a curveball and not the outcome anyone either expected or could have imagined.

But let’s not get carried away just yet, there are many hurdles still to cross from ESG compliances to the various development stages at Hav with GGP taking on 100% of the risk. But feel confident the ore at least from Telfer ores are going to be there to mutigate against those risks to bridge the gap and keep mining going beyond ‘27 sustaining good revenue from high gold and rising copper prices.

Atlantis does sound a really positive target, again it just goes to show having that understanding from Hav is a really important tool to have from the resulting Hanneson modelling method used to help identify it and the propensity to then have the confidence to use the method again for further targeting with some validation of success behind it.

The overlaying tactic I’ve heard before, ProspectOre used it successfully on a resource extension and a new discovery in NSW where apparently a new method with both IP and EM signatures where overlayed to assist in targeting with some success and again, only possible down to starting with all the data from the known part of that existing resource to compare with.

Will do wonders for the share price again if a major new discovery is identified concurrently with what’s happening throughout ‘25

Thanks not seen this, really interesting, clearly shows the importance and extent of early stage reconnaissance work and assessment needed before rigs are deployed. How economics can scupper projects even at early stage, but also perseverance and luck plays a part. But most important is the experience and skill of the geo team that’s required.

“They are comfortable within greatland it’s going to be a bigger toy!” - Cute mining porn comment there.

But a real good point Damian makes echoing what we been saying is regarding “knowing what they know with Havieron.”

With all the various data collected fron a known orebody there is a far better understanding toward interpreting outlying localised signatures and the understanding of how another potential new discovery might not be presenting itself for discovery.

If it’s out there, they’ll have the best chance of finding it with tools they have!

Hi Bamps, had considered the depth limitations of EM, have previously heard up to 1500m was possible with some equipment. Maybe that was MT you mention. Considered commenting on down hole in that respect but didn’t want to go into it too much with my general hypothesis. But thanks for the heads up on specific techniques used, is good to be able to back up and fill in the gaps in information where you didn’t realise there were any. 😉

Looking forward to the MRE. How close are they from accessing west dome deeps ores, will it go straight through into development as part of the DFS?

Agree is exciting, it’s actually becoming a really good exploration story again now, considering the genuine prize this time. And not just the general hope that the project might go on to be viable to be mined, what we have all been used to before. So different now!

“Shaun Day did say that finding Havieron helped them understand Telfer more.”

Certainly one of the main indicators for that would have come from the extensive, historic airborne electromagnetic and any ground induced polarisation surveys of Hav and one would assume now GGP have full access since acquisition to historic data from Telfer.

IP lines test electrical resistivity in sub surface rocks with airborne (drone or helicopter mounted ) EM survey sweep the area testing for magnetic susceptibility. But there are a few other variants also.

Havieron mineralisation is contained within well developed pyrrhotite-chalcopyrite and pyrite sulphide mineral assemblages as breccia and vein infill, and massive sulphide lenses.

It’s not the sulphides that are magnetic but the pyrrhotite mainly. With chalcopyrite being weakly magnetic and pyrite with no magnetic properties whatsoever. Why it’s referred to as ‘fools gold’

With the diamond drilling completed from Havieron, the drill ‘cores’ magnetic data was likely taken from across the full depth of the drill core and compared with the Electromagnetic data from the EM survey data, with results fed into the 3D resource modelling.

This model can then have been used to interrogate the Telfer modelling to help interpret mineralised trends to assist drilling targeting.

Daz, the question on strike at Telfer is a bit of a moot one, not sure what you could conclude from any answer. Whatever the interpretation of strike, it’s a little more complex an answer than that toward mine extensions that need to be able to be bought into the new mine plan to increase in the current base case mine plan over next 2-5 years to begin with.

However your second question on further CapEx to develop Havieron in the ‘current’ base case is estimated about A$803m to develop up until first stope ore. Bank lending facilities of A$750m combined with working capital, cash flow from Telfer and the fundraise proceeds will cover all costs and importantly be further non dilutive. Total sustaining capital there after is estimated in the current base case for LOM of A$483 from Hav cash flow.

Short term trend metrics are still agitating to the upside,

won’t be surprised if the SP gives up half of Wednesday’s gain,

zig zagging moves over the next several days,

it may continue the fight upwards

It could go up and down then like Julie’s knickers

Hi abso, with the 3 CB companies that have exploration licenses close by in Western foreland, pooling their resources, sharing their data, having access to AA’s historical data on the region, you could say we have seen some action with Galileo having drilled the first reconnaissance holes in their license to feed that initial drill core data and assays into the geological model toward a greater understanding of the geology to help toward better targeting of xtracts drilling campaign in the coming dry season.

The geo model is made up all the historic data and ground test work including any airborne EM and other surveying. The final piece to help tie it all together are from the recon drilling where their drill cores magnetic data is used to compare with the magnetic susceptibility data of the electromagnetic EM surveying. It doesn’t point to further mineralisation but helps aid interpretation of the modelling.

Initial recon is not necessarily about the assays as such but more about confirming mineralisation and the information it gives them in understanding the geology.

My best guess on that too.

Hi Cardo, have no idea about this New World Metals or if there is any relationship.

XTr is a main holding company, with 14 subsidiaries under it! Obvious reasons in this financially demanding sector are usually associated with the financial considerations that subsidiaries offer in terms of tax savings by filing losses from one subsidiary and offsetting income from others. It’s really common particularly operating in different countries.

Could have similar tax reasons for their involvement in it, or with new world metals being a vehicle to protect their other interests from a new joint venture themselves.

Am guessing now, as I don’t know is my answer but is usually the case to reduce liabilities one way or another and not something dodgy which I think you are I concerned about.

https://xtractresources.com/about-us/group-structure/

Gold in Greenland

https://www.amaroqminerals.com/investors/gold-in-greenland/

Apologies, thanks for sharing video agfo

Thank you for sharing Btc

They only required a resource of 320,000 oz, enough for a 7 yr mine life toward financing the build of Nalunaq mainly down to a lot of the infrastructure already being in place from the existing mine.

The significance now of being able to leverage Nalunaq plant toward a lower AISC if a future mining operation at Nanoq can be realised, will be further compounded if the resource modelling can support an open pit to exploit first ores at Nanoq. It will be far cheaper, easier and importantly quicker to build a viable and potentially smaller resource toward a starter mine than it would, with an initial underground operation.

Will also be quicker to develop an open pit operation into production to start generating first revenues. Once up and running, then sustaining costs would then allow the exploitation of all further ores including accessing deeper ore from the bottom of the pit. All that will then only have to carry just ongoing CapEx and OpEx.

It is the ultimate mining model!

The fact they are throwing up to six drill rigs systematically at Nanoq to further test the prognosis of the veining that is repeatedly folding and reporting near surface I think is testament to that.

Great interview so many more positives. I’ll stop there as could go on all day.

“I can now show my wife my trading account without fear of violence.”

That made me laugh out loud HB

I have the same issue being over exposed in junior natural resources with my investing strategy. My wife insisted there must be an alternative!

Julie 38 from Manchester looks ok