Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Paul,
Latest research note after the MRE update in December from SCP Research which are basically the same people that created the Sprott branded notes.
I think SCP Research stands for "Sprott Capital Partners"
ATB - Paddy
https://bpd-space.nyc3.cdn.digitaloceanspaces.com/scp/231221-ggp-scp-MRE.pdf
Video interview out
https://www.youtube.com/watch?v=R13xKKh4-S8
Nice update from Shaun & Damien.
Great to hear from some of the rest of the team and you can see how enthused he is about the current & future exploration plans at GGP. Nice to hear they have sorted out land access agreements at Bromus and they are carrying on with surveys at Panorama.
Also great to hear Shaun confirm that the MRE update is on track for December quarter as Spy mentions - only 6 weeks or so left - so it's literally around the corner.
ATB - Paddy
Another article in today's AFR which will only add to the confusion as it clearly contradicts Palmer's comments from today.
Somebody is definitely telling porkies.
https://www.afr.com/chanticleer/newmont-ascension-resets-race-for-gold-riches-20231107-p5ei5x
It's behind a paywall so here is the relevant paragraph.
"Big players like Newmont and Barrick dip in and out, sometimes buying, other times selling. Former microcap Northern Star, for instance, cashed in on Barrick’s Western Australian retreat last decade to become the second-biggest Australian gold miner.
Newmont has promised to offload some of its newly acquired portfolio, with Palmer saying the group wanted to find $US2 billion ($3 billion).
Gold miners reckon Newmont’s done the rounds of Perth’s St George’s Terrace in the past fortnight. The miners left meetings with the clear impression that two of the Newcrest mines, Telfer and nearby development project Havieron, would soon be on the block.
Telfer, located about 400 kilometres from Port Hedland in WA, has open pits and underground mines with 2.4 million ounces of gold ore reserves, and produced 349,000 ounces at a cost of $1633 an ounce in FY23. Havieron is a gold-copper exploration project nearby.
Independent expert Grant Samuel valued Telfer at $500 million to $600 million, which includes the 70 per cent Havieron interest.
Newmont’s Palmer has flagged he wants to raise about $US2 billion from mine sales and project divestments, which means there are sure to be other assets up for grabs."
Incidentally - St. George's Terrace is the main street in Perth where a lot of the WA mining companies have their corporate offices.
GLA - Paddy
It is 200,000 sq metres not sq kms.
Measured on Google Earth - comes out at < 233,000 sq m
https://ibb.co/3NCGLz2
ATB - Paddy
Shaun on today's podcast from around the 38th minute.
https://audioboom.com/posts/8384611-sunday-roast-featuring-colin-bird-executive-chairman-of-xtract-resources-and-shaun-day-ceo-of-g
ATB - Paddy
Acechaser - the slide is included in this presentation available to download from the Newmont website.
https://s24.q4cdn.com/382246808/files/doc_presentations/2023/Sep/19/newmont-2023-gold-forum-americas-presentation_final.pdf
ATB - Paddy
Shaun's presentation is available to watch now
https://www.goldforumamericas.com/company-session/3071/
ATB - Paddy
Looks that way to me Bamps - drill and evaluate - move onto the next target, GGP staying true to their process.
https://twitter.com/paddygall1/status/1676179815089463297?s=20
ATB - Paddy
Pretty sure we hit the £1Bn MCAP when the SP spiked to 27p on the GDXJ buy in Sept 2020 - not sure what the issued shares were at that stage but it was significantly higher than 2.5bn
ATB - Paddy
I'm pretty sure that Shaun is on record as saying the percentage increase in the upcoming MRE will be similar to the previous percentage increase which was roughly 50% on the original. Another 50% increase takes our resources to somewhere between 9 / 10Moz.
As Bamps has said this can not be used when planning the mine as only reserves can be used but with a current >85% rate of converting resources to reserves then we all know where the eventual size of the mine is going.
ATB - Paddy
Aussies are starting to join the dots
https://www.sharecafe.com.au/2023/06/02/greatland-rio-tinto-jv-elbowing-in-on-havieron/
Happy weekend - Paddy
It's not secret but it becomes a negotiation if that happens. If we bring out a big MRE then that becomes the new public line in the sand which is where the negotiations begin from.
Anyway it's all a moot point as Shaun has clearly stated that his preferred position is to issue the update jointly with NCM unless something changes in the meantime - their full year results are on the 11th August so we have roughly 10 weeks to idle away until then.
There are lots of other corporate and exploration catalysts between now and then - on yesterday's satellite image it looks like they are onto their 3rd hole at the Pearl target in Scallywag.
ATB - enjoy the lovely weather - Paddy