Member Info for lebugue-addick

Bamps 22.13pm. When the 5% FMV is negotiated I would expect GGP to insert a clause requiring a review several years down the line to ensure we don't get short changed

SaS - since the 65k program was announced, c. 26k has been drilled according to the 6-weekly RNS's.

Drill results to date:

RNS 28 Jan 138,504m drilled for 153 holes
RNS 11 Mar 154,953m drilled for 179 holes (16,449m for 26 holes since 28 Jan)
RNS 29 Apr 158,663m drilled for 183 holes (3,710m for 4 holes since 11 March)
RNS 10 Jun 164,420m drilled for 190 holes (5,757m for 7 holes since 29 April)

Total drilled 28 Jan to 10 Jun: 25,916m for 37 holes

wasred - that's a bit harsh blaming it on bottle rocket. He was only trying to help ( wink emoji). Stay with it all will be good.

From RNS 28 Jan 2021:

"Approximately 65,000m of growth-related drilling is planned over the next two quarters. Further drilling of the Northern Breccia Zone is ongoing to support the potential expansion of the existing Inferred Mineral Resource. Drill testing and interpretation of the geological and mineralisation controls of the Eastern Breccia Zone is ongoing. Planned growth drilling will also target potential resource extensions of the South East Crescent and Breccia below and adjacent to the existing resource shell. Further targets outside of Havieron, but within the Havieron Joint Venture area, have been identified with the potential to conduct drilling to test these targets in the future".

Drill results to date:

RNS 28 Jan 138,504m drilled for 153 holes
RNS 11 Mar 154,953m drilled for 179 holes (16,449m for 26 holes since 28 Jan)
RNS 29 Apr 158,663m drilled for 183 holes (3,710m for 4 holes since 11 March)
RNS 10 Jun 164,420m drilled for 190 holes (5,757m for 7 holes since 29 April)

Total drilled 28 Jan to 10 Jun: 25,916m for 37 holes

Based on the current rate of progress it does not seem likely that the target of 65,000m drilling will be met by 30 June. Or does it?

Is it possible that the answer lies in the further targets outside of Havieron, but within the Havieron Joint Venture area, that have yet to be reported?

There could also be a backlog at the labs - but why was this not commented on, if that were the case?

If the target was not likely to be hit then wouldn't we expect to have been given the heads up in today's RNS?

It's a bit of a mystery but presumably there's a good explanation - isn't there?

Bamps - presumably 0.866 comes from sin 60 degrees/cos 30 degrees (ie sq. root 3)/2) ie drilling down at an angle of 30 degrees which looks to be a good approximation

There's no "g" in Oz any more, just Ozs and loads of them. Welcome to the Patterson, Havieron style where we only talk in ounces!

Down, down deeper and down, mickey!

SD just wanted to keep the status quo in that interview. Sorry, I'll get me coat!

Monty - they will have to rewrite the lyrics to "River Deep, Mountain High" if we keep on going lower only to find yet more gold!

So today we have a "Look Sarah" interview (where's Andrew?):

"Every time Newcrest drills at Haveiron it hits really good mineralisation. "Seven holes. Seven good intercepts," says Day, gives the team and shareholders confidence about "the continuity and the continuation of grade in this ore body." He's also confident that Greatland will deliver the pre-feasability study in the second half of 2021".

Juri Joint Venture info - tucked away in the depths of today's RNS. Was expecting some commentary on their initial reaction. Perhaps SP will say something in interview (is there one?):

"Exploration activities have commenced with an initial program designed to drill test the Goliath, Outamind and Los Diablos targets in the Paterson Range East area. An initial scout drill program has been completed at the Goliath target with assay results pending. Subsequent work programs, including drilling, will also focus on the Parlay target within the Black Hills Project".

Reference to Juri JV on page 7 of 26 of the Newcrest announcement. Initial scout drilling at Goliath has been completed. Assay results are pending.

spy/merc - Cancan dancers talk about a 25% upside and a SP target of 25p. So that means they issued the news to their cronies when the SP was 20p. No doubt they will already claim their report has resulted in an 8% SP uplift!

Timing - why issue the report to the rest of us today? Why not wait until tomorrow - unless they think the SP will be more. Any respectable company would look at tonight's results, where we are expecting many more 000's of metres to be reported, and issue an updated report. I am not holding my breath on this - it was rhetoric as little faith in Cancan.

SD - he will have had the heads up on this report but he must think it's a reasonable effort and so tweeted it's coverage. He should have been hopping mad and been on the phone straight away. Strange behaviour.

Obs:

1. Target 25p - is that all?

2. "Given the preliminary nature of our economic assessment, as no economic studies have yet been completed on the Havieron asset, we are initiating coverage with a SPECULATIVE BUY rating".

Well perhaps if they had done more than just a "preliminary" assessment (ie got off their asses) they would have been able to come up with a more realistic assessment.

The King Henry gold nugget weighs 93kg and contains about 1400 ounces (45kg) of gold worth more than $3 million.

It was discovered in the Beta Hunt mine near Kambalda, in WA’s Goldfields.

SD - get cracking mate!

https://thewest.com.au/business/gold/the-perth-mint-puts-king-henry-and-karratha-queen-massive-gold-and-silver-specimens-on-display-ng-b881894399z

Bamps - blimey that's huge actually. I look over to the Malverns from walks at Cleeve Hill 30 miles away.

BR - will bamps be on hand for some expert insight as well?

James - that was Tom selling his AM and buying back in! Sorry Tom - well done by the way on your purchase - lovely looking motor.

Very low volume again - less than Paddy's total holding lol!

Steady on Enrico I'm still putting the final touches to the rocket's booster engines so you will have to be patient until tomorrow or Thursday I suspect!

Looking forward to the Growth Drilling update tomorrow. Back in April it was reported:

"Currently, all drill rigs are operational on the Growth Drilling programme with a focus on the North West Crescent, Northern Breccia Zone and depth extension of the South East Crescent and Breccia. This drilling is aimed to provide support for the potential expansion of the existing Inferred Mineral Resource estimate. Drill testing and interpretation of the geological and mineralisation controls of the Eastern Breccia Zone is ongoing".

While it may be a little soon to expect an update to the Inferred MRE tomorrow, as the reported results often lag the activity on the ground, it is reasonable to expect an update in the July results RNS.