Member Info for Morningsun

VC, I think you're missing the point here. The point is commercially viable mine. At this stage it is not required to now how big HAV is to keep Telfer open. Just have to know it's commercially viable but needs an MRE to approve funding. I think that is why they are on infill drilling mode now as per Chart's post.
But we will see tomorrow on the paddysat.
MS

VC, not a silly question but a very good one.
In my view corporates work in quite set ways. In this case, Telfer has to be kept open and the route is HAV. However, even if SB was sure himself that HAV was commercial, he could not commit funds to the development of the mine at HAV if he did not have the appropriate funding approval and in mining companies that comes through a MRE.
To develop the mine NC don't have to prove HOW big Telfer is. They just have to prove it's commercial. So, instead of keeping on drilling until they know the full extent of HAV (which could compromise the viability of Teler), they must now be sure enough of the commerciality and are putting the corporate process in place.
Then they will have another go at proving HOW big HAV actually is.
Just a matter of process and priorities in my view.
MS.

Thanks PG.
Given the development of the last week and the report from Chartbuster and his mates I would be surprised if we see further step outs tomorrow.
I think we are fully in infill drilling mode to make sure we get the (base) MRE by year end at the latest in order to secure sign off by year end on mine development funding.

Step outs will re-appear when infill drilling work is done. Would be the sensible approach from a corporate 'keep Telfer open' approach.

MS

Definitely coming back up now. The brave and wise are buying.oh, and the ones with funds available ...
MS

Stephen Clarke, professor at university of reading states this morning on Bloomberg TV that the Corona virus is nothing different from a Normal flue virus. According to him the global reaction is exaggerated. The outbreak is serious, but he response is overdone. Most people just have a mild cold like symptoms and get over it without any issues. Have a look at official flue efficacy rates. Surely they scare us more than this virus. We have this annually and no drastic response happens.

So, schlemiel, you may very wel be right. Markets looking for a reason to sell off.

Even gold under pressure this morning.

MS

Kieffie, HAV is "very, very, s....." According to GGP CEO Gervais heddle.
MS

very interesting this.
So Rio JVs with antipa at Citadel. NC JVs with Antipa at Wilki....
GGP JVs with .... at SW?

Must say, our deal with NC is much better from the initial reading.
MS

Schlemiel, ASX opens in 26 minutes form now at 10 AM Sydney time.
MS

Ah , it may have been significant. That may have been cut because it is a classification and he isn't in the position to make that statement without approval from NC.

We may be reading too much into this apart from what we already see enfolding before our eyes.

It does tie nicely into our discussion of a week or so ago about volume. I then pointed out that in my view we are already at 450m by 350m and 600m deep whereas brokers notes are still done on 450m by 150mby 600m deep.

MS

Very good spot Matt.
But what is he saying. Step out surely as it seems to start with an s after very, very...

Joe, if we get to excited we may find the president there LoL

JS, they way I see it is that the MRE and getting ore to Telfer is more important now than that 5%. That will come. NC need Telfer to stay open and hav is the route. So, I don't expect them to make an offer for that 5% yet.

This may result in paying a bit more for that 5% but in the grand scheme of things I expect it to be peanuts.

I may be wrong but from a company perspective keeping Telfer open is key to NC.

MS

PG, agree.
They key to NC and Telfer is getting the ore out of the ground and to the plant so it can stay open.
NC need to do the MRE by end this year to get investment approval and get the mine up and running ASAP.

It is therefore not important enough anymore right now for NC to look for further step outs. They need to do the infill ASAP and that is what they are doing. The step outs will come back when they are done with the initial MRE field work.

MS

let me know when you find then Strudel.
MS

Well Pilgrim, your answer says a lot more about you than about me.

How does SW fit into the transport process? Is WW not on the way to Telfer from HAV. So, if SW is indeed as good as we hope to see from the magnetic images then suddenly you do not only have HAV to transport but also SW ore. Then the investment case for other means of transport, i.e. a conveyor belt or a rail line, is not HAV but SW which is closer to Telfer. HAV will then only be the extension line. It's just an incremental investment approach. You will built a railway line a lot faster than a mine as well so they have time to wait for further results, even at SW.

Anyway, seems like reasonable to consider the alternatives.

MS

Enlighten me please. There have been talks with the ministry about a potential railway. How is this worth a 50% to 100% rise? These ministers talk all the time, that's their job.
Thanks
MS

Paddy, this is indeed exactly what chartbuster said last week as he had heard from 'a mate of a mate'. I think he called it 'fan drilling'.
Lots of drilling to do to get to the MRE.
MS

From start of decline. That surely is THE statement of the year. That is sooo much faster than ANYONE on here has ever suggested. Fits right in with the requirements of keeping Telfer open.

They are going for this hammer and tongs!

MS

VC, read chartbuster's last post about the rumours his mates had heard about fan out drilling from existing pads.
MS