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NC has first refusal on Blackhills - do you think they would take it off GGP's hands with what has been found there to date? Not a chance. The question is after this round of drilling at Saddle Reefs do GGP move onto their other sites in the Blackhills and the Paterson. The main thing which will increase the sp is if the prospect is of interest to NC.
imho, gla
Matt
NC are in a strong position with their processing facility at Telfer - they can pick and choose whose material they wish to haul 40km to process. Although they have signed a deal with GGP that does not stop them going for other high grade material found by other mining companies. I do not think NC will wish to haul Blackhills material 30km at these grades. it depends what other mining companies find. Rio's grades were not very impressive but apparently there is a lot of it! Are they going to put in place processing facility. You can say there other is other drilling to do etc but remember these were the best positions from all their other fieldwork done. So I reckon this part of Blackhills is now a non starter - still plenty of other potential!
imho gla Matt
The RNS stated that
'Comprehensive ground gravity and surface geochemistry is expected to commence in August'
at Patterson East but nothing has been stated that this has been commenced or done.
Any ideas has to how long this takes, analysed etc
gla
Matt
Why do they need so long for the new shares to be admitted - ie 27 Aug? People immediately feel that no news is going to come out before then so they sell up temporarily. Does GH want the SP to be higher than 1.85 before then? Are the new investors in it for the long term and therefore will not immediately trade the shares after the 27th if it is a lot higher?
Does any of this make a difference to news flow? They must have seen the drill samples by now from Blackhills.
Any thoughts from the resident oracles?
imho, gla,
Matt
They have been drilling there for over a month so they must know what it is like.
I expect an RNS giving an idea as to results to boost the share price for the investors.
Perhaps they are doing the same as at Havieron - do a bit of drilling then bring in NC to finish it off. So possibly Blackhills in a position to be handed over to NC. Cannot see any other large company getting involved.
Thoughts?
imho, gla
Matt
If you are bored go to google maps and have a look at Telfer on satellite. I was amazed at how big a community is there, airport, housing etc. Approx 1000 people live there. This community is there because of the mine.
So this infrastructure is a massive saving compared to starting a mine from zero and the longer the facility is fed the longer the community exists. Presumably employees from Telfer would commute to Havieron.
News soon
gla
Matt
Had a refresher look at the drilling GGP did and get excited again as how good it looks. Then looked at drill positions, trajectories etc. It seems the post mineral dyke has the best gold around it - do not know the geological relevance of this! So it seems to me that how far is there gold away from the dyke. HAD 2,3 &4 have some but are not very deep. Are they going to go deeper on these? Have they decided they have gone deep enough on HAD 6? My guess is there is a concentrated zone of 250m by 250m of good stuff but how far outside this do they go for lesser stuff? They are going to drill this concentrated zone to death! This is going to be very exciting. Well worth looking at the diagrams on the GGP site and try and interpret them if you have not done so
imho, gla
Matt
This is very much what we said this morning that the drill results were nothing special and probably disappointing - you are not saying that Rio would not drill the best target first - of course they would! Now the interesting thing is that the other miners have scrabbled around getting stakes in the area on the back of a rumour that Rio had hit great stuff - FOMO! They are maybe going to waste money drilling for poor results. The other point is nobody will know Rios results until Spring next year. What do the other miners do in the meantime - sit on their hands!!
Looking at the area now it is difficult to see who owns what and who is doing deals with who!?
I think it is brilliant for GGP as they are the only company with proved up drilling.
gla, imho
Matt
They have quoted....
'Drilling is ongoing with eight diamond rigs and three RC rigs drilling at Winu and further results will be reported in the first quarter of 2020.'
Gee 11 drill rigs and no more results until next year!!
Matt
I am not too impressed with Rio drill results - nothing there to really sing about - they have drilled a lot of holes but not hit the mother load although it is over a big area. That probably makes Havieron more valuable
imho, gla, Matt
As speculated Rio may be interested in Newcrest. Is this a threat to GGP as Rio will use Telfer to process their ore rather than GGP's leaving GGP a little bit out in the cold. The sums invested in exploring Havieron are very small compared to the potential takeover and are a bit like an insurance for Newcrest if Rio doesn't do a deal. What are peoples' thoughts.
imho, gla
Matt
Cookie, next year is fine but how much are they spending each month and how much have they got left - how do you anticipate them keeping the show on the road? Do you see the company taking over Cornerstone buying out the company?
gla
Matt
Solg employ 560 people and are spending on allsorts. When does their money run out? Capital raising again soon with the sp at level not good. I am getting quite despondent with this share. There seems to be no clear plan and I see no immediate change to the share price.
imho
gla Matt