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Many thanks for that insightful reply Bamps

Agree on the rail conveyor as an option, considering the haul road is still to be constructed so there certainly would be construction costs that will be offset while under development stage. A road would still need to be built alongside utilities for logistics one would assume.

"Train or conveyer belts are two obvious ones but what others are out there that are currently used successfully and cost effective in the same sort of enviroment ?"

Good question Catchme, Hav ore is intended to be hauled by road trains to Telfer and likewise, to transfer back the wet tailings for the progressive backfill at Hav. Doubt that will be changed in DFS

2.8Mtpa is a lot of rock to haul, I would not be surprised to see a pre concentration circuit included at or near the mine face of Hav with the purpouse of seperating any barren rock before the payload goes on the haul road. Effectively reducing the mass of rock so effectively increasing the head grade of each load which has ongoing benefits in recoveries. There are trade offs as there will inevitably be some losses particularly where multi mineral types are being mined. Another benefit is that it can also be tailored to separate ores to be fed to different processing circuits at same time. For example, low-grade gold ore can be directed to go onto be heap leached while higher-grade ore is sent straight onto the CIL circuit. 

Savings can be significant as there are also more dry reject that remains local that can go straight to backfill reducing overall material handling.

“Ps try and think of some negatives?”

There’s a few to consider main one is the remediation work runs over. But provisions are in place for that.

On acquisition will inherit a 1.5% NSR royalty to pay out on ‘Telfer’ income over its mine life. - Quite normal some projects have many royalties to pay due to indigenous land rights issues or simple just for simple access.

On Havieron start up in 27 it will take until ‘29-‘30 to ramp up to full base case mining rate of 2.8Mtpa dependant on mine development rate. - Not to fret about as will be supplemented for a good few years with additional ore from Telfer, wouldn’t be surprised if is still mined for another ten years.

Taking over as 100% owner takes over 100% of the risk in development problems. - There is a 17% contingency attached for such eventualities that will be re evaluated with the DFS

Nothing comes without risk but potential rewards far outweigh those risks that exist.

Anything else to consider?

I’ve gone gold and also renewables with one of cbs other copper predominant companies. But looking around there is so much value out there right now wherever you look, many with non dilutive pathways to their immediate objectives like Xtr has.

Recovery when it comes over next couple years will see a 3-4 fold rerate for companies with quality resources on their books. Finding one in Zambia would be incredible for the group of companies , with luck it’s Xtra with far more hectares to search than the others. It’s all in the preparation I’m sure.

That’s a fair view Andrew, I’m same as you I believe, in that have similarly not sold any Xtr shares but have certainly rebalanced with buying elsewhere. Not to say I haven’t added here along the way but at least now I can consider myself more diversified. How about you?

Timescales aside, still see a good chance of some real project value added that can be reflected in share price with the kind of budget that can be spent.

***High grade intersect of 182g/t Au over 0.69m at Nalunaq extends the Mountain Block high grade zone ahead of commencing trial mining in 2024***

***Discovery of new high-grade vein, 75m above the Main Vein, with highest ever grade intersect of 256 g/t Au over 0.5m, significantly increasing Nalunaq's resource potential ***

Massive overall license areas in a highly prospective region

In July 24 secured substantial increase and extension of current debt facility

Impressive few of many highlights there, really like the transparency and detail of updates and important for me the company has the highest standards of environmental and social responsibility with approvals in place for their environmental and social impact assessments which personally i see as a big milestone as these studies can be big stumbling blocks for developments particularly in pristine regions such as the Kalaallit Nunaat low arctic tundra.

You only have to look at how Pebble located in the equally pristine Alaskan tundra will never be a mine due the certain devastating environmental impact to water courses from risk of its toxic mine water if escapes.

This is right up my street am bit of a tree hugger too, liking this more and more, might do a bit of rebalancing once producing.

For sure, automated systems will be the way to go. Removing the workforce from in and around the mine face has obvious safety benefits but increased efficiency, if can be successfully integrated into flowsheet design wil be where the main focus lies to improve throughput

Nice bit of mining porn, that vid

Was steered in this direction by Archer, after going over the company I must admit I’m really impressed with their focus and professionalism so have bought in with a long term outlook as good opportunity for growth and be a solid cash cow for years to come once producing.

Best

Guy

0ne of the processes of the upcoming feasibility study will be to assess potential mining throughput expansion utilising a 'bulk ore handling solution.' Positive outcomes would increase margins too.

Havieron you would think would be designed to use the latest most efficient ore handling equipment and machinery from mine face to hauling to plant from its inception.

But these modern tech companies can be utilised alongside age old techniques in an industry pretty much unchanged in decades that can even turn low grade un economic projects into economically viable ones. One in particular uses Digital Evaluation Models to assess the critical areas that can benefit from valuable design changes to improve material flow and reduce impact zones and control material velocities in what are basically modular component systems.

Milling is usually the bottleneck in the whole circuit but as Telfer has huge capacity for mill feed originally designed for the much higher volumes of ore that only comes from surface mining, there is scope to design an ultra modern efficient ore transfer system to get it to the plant.

Should ultimately see a higher mining rate achievable than the base case model currently presented for all you avid number crunchers out there. Target 3Mtpa should be theoretically achievable from outcome of various supporting studies and from increase expected in updated Havieron ore estimate.

If I say “but it’s a great buying opportunity” once more.

Slap me round the face with a piece of wet halibut!

Can only hope for a change in the resource sector sentiment and furthermore a glut of news, any feckin news as to what Manica money has been or being spent on. Consolation is a very good degree of financial security through this continued downturn.

Don’t know what cat I fall into, certainly don’t consider myself a newbie. Have invested a lot of time in GGP and understanding the resource sector since stupidly missing out on the steep rise on Hav discovery, been essentially waiting a long time for the opportunity now with a clear, definitive pathway to production so have now bought into GGP.

Feels like I’ve been here for a long time.

Best

Guy

great podcast, a slick and confident sd answers a lot of the critic there has been. heres a thought, within any exploration or development strategy, in ggp case, 'to develop a generational gold copper mining complex in the paterson.' alongside the obvious development objective there is 'always,...always' a concurrent joint strategy in play to maximise asset value.

by the time hav goes into full operation, the current economic performance from what is essentially a base case model will have seen optimisation that will have improved on the current performance further on the completion of the dfs.

should see an initial uplift with a 32% increase since the last update in contained gold eq in the higher confidence indicated category, which can potentially be considered in the updated ore reserve estimate that will be part of that dfs.

the earlier study said it was examining a throughput rate of 3mtpa so on full optimisation this may be achievable up from current 2.8mtpa throughput.

all in will significantly improve the projects npv. then there is the potential conversion of the 2.9moz gold eq of inferred resource that is outside the mine plan at hav and the certain definition of the newly identified high grade 'link zone' that was identified in the latest mre update that 'confirmed' continuous mineralisation between the eastern breccia and main havieron breccia zones. with another potential 2.5moz gold eq to be defined from already identified exploration targets to increase ore reserves to extend telfer mine life and any other targets they find.

majors buy success, and with what ggp will have if 'sd doesn't **** it up' as he said himself, "greatland have taken over now as the custodians," it will certainly be on the radar if not already, as a prime target for m&a activity when its fully de risked. i think it will be difficult for ggp to hang onto what 'they' have when that time comes, but rest assured the board will have strategically maximised asset value.

Is a completely new business case now for the development of Haverion, essentially benefitting from now having full operational control over the important project decision making processes and timeframe being free from a controlling JV partner. Owning Telfer which, beyond whats already on the ROM pad, can potentially be quite significantly be exploited to further increase revenues by extending LOM. This has reduced the need for a more progressive development timeframe to generate the all important revenue from Hav for GGP in the short to medium term i would say. ??

Without this restructuring deal and subsequent dilution. What market cap/share price hypothetically would you expect it to achieve under the previous exploration and project development scenario?

Look at it this way, the previous sp highs were of the back of the excitement of discovery, if anyone honestly believes that those highs would hypothetically be reached again ‘without’ the ownership of Telfer et al, is dilusional.

A lot of Haverion NPV would in one way or another have to be given away to see it fully developed with a fair degree of dilution to shareholders also.

Strategically, both the positioning and the timing of the restructuring deal and financially, It is a no brainier in the longer term for all invested

Think that’s a reasonably positive statement Lucky. The results of mett test work did show they were typical of metal recoveries for deposits on the Lachlan Fold and also showed there were no significant penalty elements. So at least separating should not see issues

alanis morisette and the ***** cat dolls! don’t know who sang, “it would be nice to own a gold mine right now!” not heard that one before

Not to forget that figures is based on current financial model economics. Once results are input from pre concentration that will then allow the op costs and plant optimisation to then take place that will hopefully see the break even cost come down below10k.

I totally get it for the likes of BR being at mercy of third party consultant time scales, with their various ongoing studies under the current optimisation phase.

Granted we have no idea how Silverking has progressed. As for Zambian drilling, there is no reason to doubt drilling will not be commenced at their earliest opportunity due to the fact that GLR have now started on their drilling phase. It has been RNS’d that drill collar locations for “all Xtr’s 5” licences have been agreed and permitted ready to drill.

Could be plenty to come from Silverking and are due crucial results from CPF study in particular that could be the deciding factor to take BR onto Pre Feasibility confirming the projects credibility.

The trickle of recent news releases are one thing, a strategy for a PR drive will need to be concurrent with a change in market sentiment as and when new money floods back into the natural resource sector again. CB alluded to that when, at that time or thereabouts, he said they will need all the ducks to line up.

Can only wait, stall, sandbag, if or whatever it is going on in background while still advancing projects along for when that time comes. It will be absolutely pointless to do so now with the selling pressures there will inevitably be, pushing down any resulting share price rise from limited market interest at present for any rise to be sustainable, let alone grow.

Certainly think as part of the ongoing optimisation there is reasonable chance an infill drilling programme (at the very least) will happen at some point to convert much of the shallow underground mineralisation that didn’t previously make it into the JORC which it states could ‘significantly’ add to the resource.

This is a no brainier to add in ground value from what they know is already there in the resource model and be able to convert it to increase the JORC toward final evaluation.

They may want every bit of resource included in the JORC as possible from the companies ‘planned’ deep drilling strategy to count if they are going to maximise on the options to split operations between different contractors if they dont want to see these improved commercial options removed.

>The Board of Galileo is acutely aware that embarking on a particular development route would probably be exclusive to other routes thus removing the optionality of best value outcome for the Galileo shareholders. We remain open to the various options tabled......

Could come to nothing but needs studying