Firering Strategic Minerals: From explorer to producer. Watch the video here.
Thinking about this over the weekend and revisiting the documents I could not help but ponder over the following statements in the GGP Corporate Presentation on pages 7 & 10 respectively;
"A significant resource continuing to grow
• Well defined ore body: Newcrest has completed
> 200,000m of drilling from 204 holes to date intersecting
high grade gold-copper mineralisation"
"Mineral Resource Estimate upgrade following outstanding infill drill programme
Mineral Resource Estimate update inclusive of 65,000m of growth drilling underway
Pre-Feasibility study for Havieron released in H2 2021"
So I am thinking why there appears to be such a significant difference of 21 drill holes and over 41,337m compared to the NCM exploration update the day after and why is MRE upgrade at the top of the short term potential SP catalysts ? Furthermore the PFS originally forecast for year end was talked about by September in Sandeep's conference a few weeks ago now "H2" opening up to the possibility of anytime from July.
I am wondering if we are soon to get an MRE update that may include those missing 41,000 metres and 21 holes even before the next update in June ??
Happy to be challenged on this but just my current feelings. GLA MFU
Sliotar good morning. There are 73 posts here today according to LSE. Can you point me to any that are "ramping" the living daylights as I have yet to see any. Stop being lazy and tarring us all with the same brush. Yes we do have ramps from time to time as any BB does but I have read an abundance of measured sensible posts over the last few days and took an hour out to listen to Bottle and Bamps podcast...have you had a listen? If not I would suggest you do instead of spouting such negativity all the time. GLA MFU
Many thanks to you both. Unlike Line of Duty your presentation was definATely not an anti climax !! ATB MFU
Tymers I know he is royalty and in demand but Sir Paddy of Galway is a midlander if we ask him very nicely who knows ?!!
ATB MFU
Tig we have very good friends who we are desperately keen to visit soon in nearby Tolworth...might just be too soon for the 26th but will contact if we can organise. ATB MFU
Cheers Tymers although I am Lancashire resident our youngest has just bought a flat in Brum (near Bournville) so train lines in to New Street 10 mins and Rowheath Heath Sports Club bar a few minutes walk. Obviously depends on when we are visiting but I am sure I can convince the missus as she doesnt need a 2nd invitation to visit one of our favourite cities. ATB MFU
Slightly disagree Zoros the results were great there just weren't enough of them and even so the MMs don't need to like the results as they nearly always drag us down straight after anyway. Our strength (c 6 weekly regular drill results) is also our weakness...typically allows traders to sell on every results day knowing the time in between won't hurt them unless of course a whopping juicy lovely curve ball like an upgraded MRE lands the week after !! Come on SD let's be avin ya
GLA Enjoy your weekend's MFU
stage 4 continued...
THE BANKABLE FEASIBILITY STUDY
Often you will hear the term ‘bankable feasibility study’ — and it’s more about financing than geology.
The bankable study doesn’t usually differ in project parameters from the DFS, but they include a stack of detail on what terms financiers should lend to them to make the project sing.
Despite the name, the financier won’t necessarily be a bank. It could be a joint venture partner or equity investors.
So, as easy as it is to be impatient with the company you invested in raising money only to spend them on studies, these are all an important part of the process.
GLA MFU
and Tymers! Crossed in the post lol
GLA MFU
Hydro & Tmt that's brilliant -I have just copied a summary from the Stockhead introduction;
Mining isn’t just about finding rocks. It’s also about finding out whether mining those rocks is worth the time, energy, and money — that’s where feasibility studies come into play.
Getting resources out of the ground requires a lot of money, and investors won’t risk their capital on projects without a reasonable prospect of success. One way of determining this is through feasibility studies.
There are four stages, each with more certainty attached to them:
Conceptual study
Pre-feasibility study
Definitive feasibility study
Bankable feasibility study
THE CONCEPTUAL STUDY
The conceptual study (or scoping study) is the first of these and with limited information, many parameters are assumed or factored because drilling is not done.
Of course they have to be reasonable but they are less strict than later stages because all a scoping study determines is whether or not further studies should go ahead.
Resources may be Implied, Indicated or Measured.
Companies may have a mixture of resource confidence, and in those cases will indicate them in the study.
If a company’s scoping study figures are similarly compelling then the company and its engineers can proceed to the next stage.
THE PRE-FEASIBILITY STUDY (PFS)
While this is still only a preliminary step, here metallurgical test work is done to develop processing parameters for development.
At this stage the miner wants to see how the material it’s dug up so far respond to processes such as floatation, gravity concentration or leaching.
This will give them cost and production estimates, an idea of any safety issues which may arise in processing, and any other project obstacles they may run into.
None of these parameters are as comprehensive as at later stages, they are sufficient to deduce the most appealing possible scenario to form the basis of the next stage, the definitive feasibility study.
THE DEFINITIVE FEASIBILITY STUDY (DFS)
The question ‘To mine or not to mine?’ is resolved at this stage.
By now all processing parameters have been through detailed and accurate metallurgical test-work has occurred.
While inevitably some will be assumed, these are usually realistic because they are dependant on all mining, processing and other considerations taken at and before this point.
As an example, Arafura Resources’ (ASX: ARU) Definitive Feasibility Study for its Nolans project in the Northern Territory forecast average annual production figures of 4,356 tonnes of Neodymium-Praseodymium oxide and and 135,808 tonnes of merchant grade phosphoric acid.
The mine’s life will be 23 years and average annual pre-tax earnings at A$377 million EBITDA, although the project would require just over $1 billion in capital and up to 650 employees at the peak construction phase.
The company used the study’s release to proclaim to investors, “the Project is financially and technically robust to sup
cheers Hydro-in other words plenty to absorb on arrival ! GLA MFU
Hi all-has anyone any experience of what to expect ? Is it war and peace or a short summary. What type of info does it contain ?
Any heads up here from a Mining perspective would be appreciated ?
GLA MFU
MM's are smelling the fear of the "ninnies" as Paddy called them. Lots of pi's losing there nerve here and we are about to head below 21p again. Great post TMT. I do believe GH selling has given MM's the perfect opportunity to take us back to where we were 3/4 weeks ago with sentiment weaker than it has been for a while. Not in the quality of the asset but the manner in which GH selling appears to have been done. Furthermore why no statement from SD explaining why we have 40,000 of missing drills ? Just a simple "this will all be in the next report" would do it
GLA MFU
Cheers Merc. And I have the utmost respect for you guys that endured the 75% crash it was before my time as I only transferred from DB Pension to SIPP early 2018. GLA
Green shoots people we have started to creep back up 22p to sell as we speak...you know what happens next now I have said that lol !!
but not getting the results we deserve (in terms of SP) For those that have only been invested recently and say .."it's alright for those that bought in at 1p 2p etc"....I can tell you from experience my main purchases in 2018/19 were at around 2.5p and for the next 6/9 months we dropped to 1.6p ie 40% ! So DYOR but nearly all us LTH's (I was not in when it crashed when Newmont backed out so those guys had it even tougher) HAVE EXPERIENCED exactly the same as you are going through now. We are only here to tell the tale and guide where we can because we kept the faith when all our instincts might have told us to hit the sell button.
Furthermore the results we have produced since November 20 have been astonishingly good and are not included in MRE 1 ...value will out I believe between June and August please be patient. GLA MFU
Hi Tymers-cards on the table what did you think last night might happen-you said you had some thoughts but would not disclose ? MFU
Robbie this is a time to hold your nerves a little. If we had reported 26 holes all with great mineralisation I genuinely don't think GH reducing (not selling all) his holding would have been a topic of much debate. I also had 10k in Frontera and a lot more in EQT whose CEO ramped it to high heaven in 2018/19 and watched it rise to 1.8p and then fall to 0.1 p on broken promises!! New CEO comes in and now back at 1.8p . This has been and continues to be my main holding because I believe in the fundamentals. GH has been nothing short of exemplary and I cannot fault him for selling some if he has. If he is still holding 40 or 58 million shares then that is enough skin in the game for me! GLA MFU
PS-Given there were only 4 holes reported are we still allowed to say 15/15 or is it 14.5/15 !!
Hi Jaguar-help me out fella-are we saying the likes of JerryS who are respected posters are wrong on this or has this specific document not been updated properly ? Cheers MFU
Hi Jet -it shows GH as owning 77,500,000 shares. Is this now out of date ? GLA MFU
Agreed to some great posts last night and this morning- 4 superb new results and if one takes the quarter as a whole (Jan-Mar) it is immense compared to what we had in December. I would like SD to confirm perhaps in an interview why we quoted 200,000 metres yesterday and last night c 158,000 NCM stated. I think this would go a long way to giving us SH's the full picture. GLA MFU