Member Info for miker444

Agree entirely that $40 is a good rule of thumb, however, there are many factors that could push it lower or obviously higher.
The accesibility / cost to extract being the main driver of price commanded per oz. An open pit will be cheaper to 'mine' than a deeper 'shaft' access mine.
The quality of grades will be another big factor and high grades means you get more return per tonne, 1 g/t means you have to mine and process 5 times as much where it is 5 g/t, I know all on here are aware.
The super pit at Kalgoorlie averages just 1.4 g/t and is known worldwide for what it has produced so far so GGP's grades are phenomenal in comparison, indeed 81.8% of our total grade is in band just 60 meters intersection so probably wise to hit that and leave the 18.2% alone over the remaining several hundred metres.
The current price of gold gives more profit per oz, usually $800 an oz for all production costs and therefore nearly $500 an oz profit. If gold continues to climb in price more profit and this will reflect the price exloration compnies can barter with when agreeng price. Not so good of course if gold price drops.
Infrastructure proximity another factor, you could find a good resource but if it is in a totally inhospitable area with no roads, no rail network then it would probably stay where it is, in the ground.
Another feather in GGP's cap is due to our location with good infrastructure and majors all around with existing processing plants etc.
Just pointing out the obvious but if all the factors fall in your favour then I have seen charts where $130 oz have been commanded and paid for ( this is top end) I have also seen same charts where $20 oz is all that is given.
All in all GGP tick more positive boxes than negative in my opinion and yes $40 oz should be the starting point.
atb

Hi Thebig.. I actually think Gervaise will be very busy with demands from people wanting to 'visit' site, certainly would find it hard to believe that such visitors would not be aware of each other i.e Rio and others would know who's calling to the site.
The more interest the more pressure not to be out manouevred, possible Rio still smarting on missing out by a couple of hours to Artemis and not wanting the same again although I like the look of Newcrest. Eitherway if these next holes are anywhere near as good as 1 and 5 then Gervaise hopefully will be spoilt for choice.
But I do agree it feels as thgh there is more going on than just assay results.
atb

Question is will Sprott make a move now before the assay results of Holes 6 - 9 are known or wait for definite confirmation of them.

Mayoman I second that, reddirt chers mate

It does appear that it could actually rival Telfer and in all honesty be bigger, we have hit world class grades with just a handful of holes.

Yet agin reddirt has posted correctly with detail prior to anyone else, not insider info but nonetheless accurate in his assumptions.
Does look like Sprott's will want in.

Well if Sprott's have been to the warehouse in December then it is highly probable that many other 'suits' have been as well.
It is interesting to see that they do actually try and work out the m oz's that may exist using an 80m cylinder calcualtion.

This may actually make other majors sit up and not want to miss out or lose a percentage of what is left of the market share. All companies strive to be the biggest and the best, Newmont have thrown down the gauntlet, it may well get a response or set the touch paper for other takeovers / mergers (from other majors). It may not but it bodes well imo for all minors / exploration companies GGP included.
If nothing else it has got the mining sector buzzing this morning.

Yes its the post referring to the core samples, personally would have thought that the post regarding to Sprott was more sensitive and likely to be removed rather than the core sample post.

Reddirt thanks mate

Hi reddirt, this new intersection I am assuming this is from the latest drill holes HAD06 - HAD09
atb

made by any company globally in recent memory" that's some closing statement and not propaganda / spin from GGP.
MTR and now Primorus who mention HAD06 - HAD09 assay results to come, not just us PI's watching.

Spy25 / PaddyG good posts, agree with you both.

shaun86 I was / am of the same view that RIO's 'find' has been described as massive and hence the expense and outlay of the proposed new runway etc.
RIO deal more in mining copper and it is apparently copper that they have discovered and do they actually need GGP, however I do believe this is where Cive Latchum could come in to his own and prove his worth as not only an ex RIO employee but his knowledge as a negotiator / deal maker with majors.
Certainly all of the bigger concerns in the Paterson region have included GGP in their presentations since Havieron results being described as 'world class', indeed GGP as we all know made the tabloid press nationwide (Australia).
RIO would be nice as a JV but there are a few others who could be interested, Antipa for one.

Actually think the message was confused with the messenger, I think the point he was trying to make was GH is known for mid morning RNS's / not 7am ones (in general) and to that effect he is right. GH no lover of AIM or mm's and where he can will not give them any more ammo to manipulate more than they already do imo.

Personally if it is an excellent RNS it won't matter.

We all know news is due and soon, question is how good, if it is proving difficult to buy even £1k then expectations at least suggest it will be good, not sure anyone (mm's) will be in the know.
Not long now.

Paddy, exactly my thoughts.

Actually think it will make us more attractive as our recent grades made front page news, if holes 6 - 9 are similar then game on for the majors, RIO have deep pockets and Antipa JV was small change for them.

Tiburn, you forgot 'world class'

:¬)

He probably does, like most of us but he has no say in the running of the company (GGP), that's down to gervaise, thankfully.