Member Info for lebugue-addick

JC - SD has it's true generally followed the GH line on raising banking finance though said he was keeping all options open.

Not sure we need a fiance though - your point 4!

SD: "MONSTER DISCOVERY LURKING IN THE DEEP"

Well done Shaun and team; richly deserved

HAVIERON KEY PROJECT MILESTONES

Gate Feasibility Study to Execution.................Q2 FY23
First Ore............................................................ H1 FY 24
First Production of Gold/Copper...................... H2 FY 24

PFS OUTCOMES

* PFS based on ore reserves of 14 Mt and does not include 37 Mt of Inferred Mineral Resource

* Capital efficent, low cost mining

* Copper increasingly important as part of plan to move to zero carbon economy

Deposit open in multiple directions with a Feasibility Study scope expected to include:
* Completion of a further infill drilling program by end of CY21 to increase the indicated mineral resource base for potential ore reserve expansion
* Completion of the growth drilling program immediately below the SE Crescent zone for potential mineral resource expansion
* increasing grade and thickness of mineralisation has been observed in recent drilling
* potential to discover further mineralisation centres at Havieron North, Zipa and Meco

STUDY OUTCOMES UNDERPIN AN ONGOING GROWTH STORY

* PFS currently only considers the indicated mineral resource
* Growth drilling immediately below the SE Crescent zone shows significant potential for mineral resource expansion
* Further resource growth in the Northern and and Eastern breccia including the evaluation of alternative low cost mining methods.
* High grade zone within SE Crescent remains open at depth
* Development options to consider mining and milling rates at 3 Mtpa (Note Havieron economical on just 2Mtpa but is going to get better)

The decline started in May and has advanced 189 metres as at 29 September - Newcrest are very happy with the rate of progress

Mumbo - this is a post by Bamps on 13 Aug. It excludes the lower ovoid which makes up the rest of the ore body. Bamps will be able to direct you to the full calculation.

I started off with an ovoid shape plan and gridded it with 50m squares, around the perimeter were squares that had the perimeter running through them forming triangles and rectangles.
I went right round the perimeter calculating each part square, then adding this to the number of 50m squares gave me a fairly accurate 176,000 sq m.
Multiply the area x 1300m depth = 228,800,000 cu m
Multiply x specific gravity of 2.7 Used by Ggp = 617,760,000 tons
I’ve used a fairly low average grade 0.75g/t
Multiply 617,760,000 x 0.75 = 463,320,000 grams
Divided x 31.1 = 14,897,749.2 oz

If this turns out to be 1g/t which is highly likely then the total sum = 19,863,665 oz

I’ve not included the lower ovoid figures but there is at least 10m oz @0.75 g/t or 13.5m @1g/t in the additional zone if my assumptions are right and it’s still open SE,N,E,NW and of course at depth .
I’ve not deducted any dilution which the industry norm allows 15%, but there’s nothing like 15% is this vertical ore body.

Bamps estimates - around 900 million tonnes of ore and has calculations for anyone interested.

Inferred Mineral Resource, announced December 2020, data cut-off October 2020 - based on 52 million tonnes.

Probable Ore Reserve, announced October 2021 - based on only 14 million tonnes.

So the fraction of a fraction that everyone's been talking about is 14/900 = 1.55%. Hopefully everyone gets that now so we can move on.

Loads of people looked at the release yesterday and as Spy says the ridiculous comments just after the market release were ignorant beyond belief.

Source: Slide 25 of PFS presentation

https://greatlandgold.com/wp-content/uploads/2021/10/GGP-Growth-Update-Final.pdf

I should have put a link to the presentation:

https://greatlandgold.com/wp-content/uploads/2021/10/GGP-Growth-Update-Final.pdf

Up to now we have been working on an initial MRE of 4.2 Moz Au eq but below is what SD spoke about yesterday:

Extract from Slide 7 of the the SD presentation:

MINERAL RESOURCE
53Mt @ 2.1g/t Au, 0.31% Cu
for 3.6Moz Au, 166Kt Cu or
4.4 Moz @ 2.6g/t AuEq

The Reserves and Resources are described in Greatland’s RNS “Havieron South-East Crescent – Pre-Feasibility Study released” dated 12 October 2021. Resources are inclusive of Reserves. Resources comprise 15Mt @ 3.9 g/t Au and
0.64% Cu in Indicated and 37Mt @1.4 g/t Au and 0.18% Cu in Inferred categories 3 The gold equivalent (AuEq) is based on assumed prices of US$1,300/oz Au and US$3.00/lb Cu for Ore Reserve and assumed prices of US$1,400/oz Au and US$3.40/lb Cu for Mineral Resource, gold recoveries of 88%, and copper recoveries of 84%, which equates to a formula of approximately AuEq = Au (g/t) + 1.6 * Cu (%). In Greatland's opinion both gold and copper have a reasonable potential to be recovered and sold.

New MRE due in December or January SD said yesterday

Steve 4077 - if people were only able to read the script they might actually conclude that this is a stonking buy. PFS is based on a fraction of a fraction of the overall resource.

count how many mistakes there were in Cavendish post @16.50 - zero credibility

Bamps @12.37 - you need to keep reminding investors of the 900m tons. I'm sure many will not have picked up on it.

Even if the average grade was a low 0.5g/t that's around 15m ounces. But expect we'll beat that comfortably

Q: "Does the statement that every drill hits mineralisation" still hold true?

SD: "Yes, in a word.."

Bish bash bosh

Can lse take action against eye and his cronies for spreading false information. Probably best not to engage - just report.

Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said “It is an incredible achievement that, within two years of starting the Havieron drilling program, we have been able to deliver this significant project milestone and demonstrate financial returns that comfortably exceed our hurdle rate, even in this first stage. The Pre-Feasibility Study underpins an initial Ore Reserve estimate for the upper section of the South East Crescent Zone which increases our confidence in achieving first production in FY24 and triggers our entitlement to a cumulative 70% Joint Venture interest."

"We believe that this is just the first stage of a bright and profitable future for Havieron. Our extensive drilling program
continues to assess the extent of the South East Crescent Zone and further test the Northern and Eastern Breccia for mineralisation which may be suitable for bulk mining methods. We have recently delivered several new and exciting high grade intercepts which extend the high grade mineralisation beneath the initial Mineral Resource estimate and highlights the potential for further resource growth”.

“Notably, the Study assumes that Havieron is the sole ore feed for the Telfer plant and does not assume any potential upside from the extension of Telfer’s mine life beyond FY24. We continue to assess the potential for further open pit and underground opportunities at Telfer to extend its life and supplement production from Havieron in FY24 and beyond” said Mr Biswas.

GROWTH POTENTIAL

The Study only considers the Indicated Mineral Resource which is a relatively small proportion of the existing
resource inventory. The Havieron project has significant additional growth potential including:
? Conversion of existing Inferred Mineral Resources
? Mineralisation open at depth and along strike
o Extension of the SE Crescent Zone below the current Mineral Resource, where increasing grade
and thickness of mineralisation has been observed in recent drilling
? Expansion of multiple higher-grade targets within the main Havieron NW corridor, including the Northern
Breccia and NW Pod
? Potential for additional NW trending corridors including the Eastern Breccia; and
? Potential to discover additional mineralisation centres (at Havieron North, Zipa and Meco)
In addition to the active testing of the above higher-grade targets, drilling continues in the northern and eastern
breccia corridors to assess the bulk extraction potential.
At the SE Crescent, drilling has extended the high-grade mineralisation ~250m below the base of the current Mineral
Resource with two recent drillholes (HAD133 and HAD133W1) returning intervals >900 gram metres (Au ppm x
length). These new intercepts show an increase in both grade and thickness with increasing depth. Drilling continues
to assess the depth extents of SE Crescent which now has a vertical extent of over 900m.

It is very reassuring to note that NCM are well funded in their next phase of growth.

When NCM released the Cadia PFS in August 2021 Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said “The development of the PC1-2 cave is the next step in Cadia’s block caving journey. The Study underpins an optimised mine design which we expect will deliver higher gold and copper grades and enable the deferral of capital expenditure in the medium term.

We have significant financial headroom to fund the construction of PC1-2, together with our other organic growth options, from our expected cash flow generation over the development period and our strong balance sheet.”

We have a great partner - right time, right place.

Rotherby: "Personally i had expected a bit of a life today but it has not come, should I expect a late day rise?"

You are joking surely? The volume has already exceeded 26m - this tells you there has been a lot of activity as investors take their positions.

Do we expect an ANN from Newcrest at around 11.45pm UK time tonight detailing their 3 PFS's (Red Chris Block Cave, Lihir Phase 14A and Havieron) ?

Newcrest Mining Limited (ASX, TSX, PNGX: NCM) is planning to release the outcomes of its Pre-Feasibility Studies for the Red Chris Block Cave, Lihir Phase 14A and Havieron Project on Tuesday, 12 October 2021, pending receipt of the necessary approvals.
You are invited to join our investor webcast or conference call at 1000hrs AEDT.

AEDT is 10 hours ahead of BST. So 10am AEDT is midnight UK. Just jottings to get it clear in my head!

mark - I suspect "punchimup" is a tongue in cheek recognition by Newcrest of the aboriginal language, although somewhat distasteful in 2021 given the great strides companies are going to in recognising the rights and traditions of indigenous species.

The suffix "......UP" means "place of". I have regularly visited WA in recent years (not since late 2019 though) and have come across names like:

Cowaramup - believed to be derived from the Noongar word cowara, meaning purple-crowned lorikeet;
Joondalup - "place of whiteness or glistening"
Cooloongup - "place of children" etc