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Gold futures for August 2023 contract currently $1,983/oz
IOT - no need to gate crash; everyone knows your boring views. Every post a negative. And your reason for being here is what exactly?
Updated list:
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. First gold - Earning cash next year
9. Free cash flow 2025
10. If Newmont divest Telfer and 70% Haverion, and GGP buy them.
11. MRE of 2.9Moz @ 3.0g/t AuEq high-grade Reserve could lift to 9Moz according to Sprott on infill and roots - a little bit down track but within reach.
12. Again according to Sprott's April report, Reserve increases could support elevated 6-9Mtpa for long-life Tier 1 asset.
13. And again from Sprott: Potential 6Moz caveable material adds optionality above this - a little further down stream but nevertheless a massive catalyst.
14. Use of Telfer mill for Havieron (and further downstream the Rio JV ore from Patterson South)
15. The existing Greatland team and support partners should not be under-estimated. That's probably how they got the Rio JV off the ground.
16. Drilling at EG 2024.
17. JV strikes - Juri and/or Rio
18. Scallywag strikes
19. Fully funded through to production - a reiteration
20. Jurisdiction - Australia is the best jurisdiction in the world right now to find more mineralisation - what has GGP got up its sleeve?
21. M&A activity - a value enhancing acquisition?
Keep adding to the list; just a few for starters.
This Sustainability Report, published on 30 June 2023, primarily covers the financial year ended 30 June 2022 (FY22).
Just for you Toffers (see number 20) - love your enthusiasm!
Updated list:
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. First gold - Earning cash next year
9. Free cash flow 2025
10. If Newmont divest Telfer and 70% Haverion, and GGP buy them.
11. MRE of 2.9Moz @ 3.0g/t AuEq high-grade Reserve could lift to 9Moz according to Sprott on infill and roots - a little bit down track but within reach.
12. Again according to Sprott's April report, Reserve increases could support elevated 6-9Mtpa for long-life Tier 1 asset.
13. And again from Sprott: Potential 6Moz caveable material adds optionality above this - a little further down stream but nevertheless a massive catalyst.
14. Use of Telfer mill for Havieron (and further downstream the Rio JV ore from Patterson South)
15. The existing Greatland team and support partners should not be under-estimated. That's probably how they got the Rio JV off the ground.
16. Drilling at EG 2024.
17. JV strikes - Juri and/or Rio
18. Scallywag strikes
19. Fully funded through to production - a reiteration
20. PIs buying - even small amounts!
Keep adding to the list; just a few for starters.
....and less cover than at Havieron. Only 250m from surface.
Sandgrounded - instead of back seat driving you may care instead to put your faith in the BoD who will know more about the best way to achieve returns to shareholders.
I suspect any capital raise, if it comes, will have more in common with accretive M&A activity or funding value enhancing options associated with the feasibility study.
GGP have said they are fully funded for the 3mtpa FS option but maybe, just maybe, Newcrest have 4,5 or 6 mtpa options under consideration.
Either way I am happy to leave it to the Board to decide how best to manage the growth.
Updated list:
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. First gold - Earning cash next year
9. Free cash flow 2025
10. If Newmont divest Telfer and 70% Haverion, and GGP buy them.
11. MRE of 2.9Moz @ 3.0g/t AuEq high-grade Reserve could lift to 9Moz according to Sprott on infill and roots - a little bit down track but within reach.
12. Again according to Sprott's April report, Reserve increases could support elevated 6-9Mtpa for long-life Tier 1 asset.
13. And again from Sprott: Potential 6Moz caveable material adds optionality above this - a little further down stream but nevertheless a massive catalyst.
14. Use of Telfer mill for Havieron (and further downstream the Rio JV ore from Patterson South)
15. The existing Greatland team and support partners should not be under-estimated. That's probably how they got the Rio JV off the ground.
16. Drilling at EG 2024.
17. JV strikes - Juri and/or Rio
18. Scallywag strikes
Keep adding to the list; just a few for starters.
Hi TT - given that Newcrest will be preparing the FS then the likelihood is that the financial assumptions they made for PFS will be the ones we will see - Newcrest was $743/oz and GGP $643/oz. Since then there have big increases in utility costs in Aus.
It will be interesting to see what these "enhanced value" options are and whether they have any effect.
I was not suggesting Shaun is withholding FS dates - the situation has become very flexible as a result of the Newcrest/Newmont takeover. There is of course a Sunset date of 31 March 2024 which Shaun has mentioned a few times.
YNWA - what are your expectations for timing of delivery of FS? Shaun has more or less ruled out August because of the ongoing takeover of Newcrest by Newmont which may not be finalised until December. Shareholders are voting in September/October according to Newcrest.
It is confusing as the Scheme Implementation Deed, agreed between Newcrest and Newmont, specifically requires business to continue as normal. Newcrest may indeed be "distracted", as Shaun calls it, at the moment. I had hoped Bottle Rocket would ask my question on FS timings and potential GGP involvement to Shaun. I don't recall hearing it.
Greatland are cross listing ...
16.39 Oh dear FUDIOT is back like a bad smell. Never any discussion about the asset.
So many SP catalysts and all ignored.
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