Member Info for lebugue-addick

In terms of the feasibility study Shaun said during the Sunday Roast interview on 4 June he expects it to be 2024 - Sunset date of March 2024 - as Newcrest are distracted by the Newmont takeover, which is expected to be settled by December.

Hope it's sooner of course. I notice Callum reckons it could be by December, so who knows. But I would rule out August based on latest interviews.

If you can get better capital appreciation than here then please do so and leave us all alone. Your rhetoric is beyond tiresome.

Results expected tomorrow morning - it's not a Newcrest week this time

Sureasblazes - good job; hopefully we're just going through a bit of turbulence this week while funds rebalance and return to a more positive outlook next week!

Folks, it is Van Eck's rebalance week for their passive GDX and GDXJ funds. On very low volume this week their rebalancing could be artificially distorting the market (partially).

RNS 13 Jan 22 appointing Lombard:

Riaan Lombard is a qualified mining engineer and native of Namibia with 25 years of experience across a multitude of senior management and technical roles and a diverse range of commodity projects in West Africa, East Africa, and South America. Recent roles include Chief Operating Office of Kahl Group (Namibia); Global Head of Industry - Mining for Louis-Dreyfus Group; and Operations Manager at IAMGOLD's Rosebel Gold Mines in South America. He also worked as General Manager at Kenmare Resources' Moma titanium mine in Mozambique and Mining Manager at AngloGold Ashanti's Semos open pit gold mine in Mali.

Mr. Lombard's extensive operational and technical background across project management, large open pit mining, various underground operations coupled with solid commercial experience makes him an ideal fit to take the producing Kilimapesa Gold Mining and Processing Operations in Kenya to the next phase of its development and planned major expansion programs aimed at increasing gold production. His primary focus will include managing the planned expansion programs to both the underground and open pit operations, and the CIL processing plant and proposed new heap leach operations. He will oversee the diamond drilling ('DD') and reverse circulation drilling ('RC') drilling programmes, aimed at building out the initial gold resource base to +2-3Mozs and supporting a gold mining operation capable of producing +50,000ozpa.

Mr. Lombard will also take on the role of Project Director for Tanzania and play a crucial role in Caracal's expansion into developing its gold mining projects here following the recent acquisitions of Nyakafuru and Simba Gold Projects (see RNS dated 7 December 2021).

Later appointed COO. Pretty damning for him in today's RNS.

Https://twitter.com/shaun_day_/status/1664575475702956033?cxt=HHwWgoDQse2k4ZkuAAAA

MidasMac - SD tweeted "late June" several days ago

1. ASX listing

2. Feasibility study

3. Decision to mine

4. Updated MRE 11 August

5. More Reserves - these can be taken onto the balance sheet

6. Low AISC

7. Valuation of gold - Newcrest updated MRE 17 August 2022 used an economic assumption $1,300/oz for gold. It's now 50% higher but this is never mentioned by detractors

8. Drilling at EG

9. JV finds

10. Scallywag strikes

Keep adding to the list; just a few for starters. There is a 2-way narrative despite what detractors say.

Look at pantheraresources.com

4 page document

Hi MH01 - quite agree about your comment about doubling. That's why I have suggested a modest increase in Reserves from 2.9m oz gold equivalent at 3 March 2022 to 4.0m oz - an increase of 38%.

This is consistent with Shaun Day's 43% CAGR comment for the overall resource which would take us from 6.5m oz to some 9.5m - 10m oz oz gold equivalent. I am certainly not proposing a doubling at this stage when Newcrest report on 11 August.

Drilling cut off at Feb 2021 for PFS dated 12 October 2021: 138,504m for 153 holes drilled as at 28 January 2021.

Drilling cut off December 2021 for updated MRE 3 March 2022: 226,492m drilled for 272 holes

Drilling cut off for the to be updated MRE 11 August 2023: Not known yet. As at 27 April 2023, 298,428m had been drilled for 335 holes. An increase of 23% in holes drilled and 32% in metres drilled since the last update.

Thought for the weekend. I believe 4m oz of Reserves is within reach at the next update on 11 August. Just had a look back through the data in the March 2022 RNS.

Starting point for Reserves - 2.9m oz gold equivalent

At that time there were a total of 3.8m oz in the Indicated category, of which 2.9m oz equivalent had been taken to Reserves. That leaves some 0.9m oz equivalent yet to be converted. Given the cut off date was December 2021 there is a reasonable expectation that 86% of that 0.9m oz, using Shaun's conversion rate, will find its way to reserves also - say 0.8m oz equivalent addition.

Now comes the tricky bit - we are expecting the next MRE in August to be around 10m oz gold equivalent, having risen from the current 6.5m oz equivalent.

Drilling has taken place for 18 months since the last MRE. So we just need a very small contribution of around 0.3m oz from that 3.5m oz growth to go into Reserves. That does not seem undemanding, particularly when we had 0.4m oz Indicated resource equivalent in the Northern Breccia, none of which had then been taken to Reserves. All of the Reserves have so far come from the South East Crescent.

The mining plan may well just cover the SE Crescent but the Reserve should include all up to date data one would hope given the time that has elapsed since December 2021.

PS. Just concentrated on Reserves here, not the overall MRE of 6.5m oz gold equivalent.

Yes, I have listened twice now. A quiet confidence exudes..

Hi Mickey - admire your perseverance

100% correct Corrado - great analogy!

Hmmmmm let me see - is that the one making an announcement tomorrow with a rebalance date of 16 June?

Hi Bamps - in terms of the reserves do you expect to see any change from the statement accompanying the 3 March 2022 MRE update relating to NSR: "Ore Reserves are reported above a cut-off of A$95 NSR/t and reported within mining shapes based on a sub-level open stoping mining method. All reported metal was derived from the South East Crescent Zone only".

cheers l-a

The RNS of 30 November 2020 does not say anything about the first or last right of refusal in the event that either Greatland or Newcrest do not wish to proceed to mine.

If Greatland want to pursue but Newcrest don't the RNS gives Greatland the option to purchase at fair market value.

I am not aware of any formal RNS update unless some folk have a link. Thanks.

IMI has joined FTSE100

Plode - just for balance the gold futures for August 2023 contract are up 4 points

https://uk.investing.com/commodities/gold-streaming-chart