Member Info for PaddyGall

Agreed Hydrogen - just take one look at the briefing book that Newcrest produced for last night's presentation.

https://www.newcrest.com/sites/default/files/2021-02/210211_Newcrest%20FY21%20Half%20Year%20Results%20%E2%80%93%20Briefing%20Book.pdf

Take a look at pages 46 & 47 - They have stuck a dotted circle on the side of the 3D image of the current MRE shell to indicate where the possibilities in the Eastern breccia exist and then look at the drill intercept that is highlighted on page 47 -

HAD084 - 42.2m @ 2.0g/t Au & 0.11% Cu, incl. 14m @ 19g/t Au & 0.2% Cu

Combine this with the additional 65km of growth drilling that will be completed before the end of June - that's only 4.5 months from now. I think SW is being a bit disingenuous in his assessment of Havieron although his arguments are well reasoned and put - please don't take mine, hydro's or SW's assessments as gospel - DYOR, the info is all out there.

ATB - Paddy

Well said Mr.Bronson - the whole of GGP was only valued at 2p a share for 12 months while NCM were churning out fantastic results every 6 weeks at Havieron so to think that Scallywag could have been valued at that level purely on speculation without even a single hole been reported is farcical indeed.

I don't for one second understand the mechanics of how this drop has happened - whether it's manufactured or genuine is of absolutely no interest to me but I'll tell you one thing it has done - it's strengthened my resolve completely to see this out and hold every single share come hell or high water.

I hope SD is still here in 5 years time as he intimated in the interview earlier today and we have our multi-asset, multi-billion pound company.

ATB - Paddy

The Artemis presentation was very interesting when taken into account with the latest report from Newcrest that other targets had been identified within the Havieron JV area but outside the Havieron immediate drilling.

Alastair's slide that showed the layout of Cadia spread over 5km shows precisely what could be possible in the Havieron area and that's without looking at Scallywag, Rudall or any of the Juri JV prospects in the rest of the Paterson region.

Even if all of this fails then we are 100% nailed on to be either mining a Tier 1 gold/copper mine within 2/3 years or selling our 30% for a big fat profit. The future bright - the future's Gold & Copper.

ATB - Paddy

No satellite data from Sentinel today - hopefully we may see the data over the coming days.

"Due to a couple of ground segment contingencies occurred in the night between 8 and 9 February, the nominal availability of several Copernicus Sentinel-2A products from sensing orbit 29418 to 29432 and several Copernicus Sentinel-2B products from sensing orbit 20510 to 20523 was prevented.
The recovery of missing products has started and will be completed in the coming days.
We apologise for any inconvenience this may cause to your activities."

https://scihub.copernicus.eu/news/News00818

Too right - it's caused us a massive inconvenience lol :-)))))

Keep on smiling lads & lasses - congratulations Tex, as the proud father of 4 wonderful children I can tell you life will never be the same again - but in a good way.

ATB - Paddy

I haven't been keeping up with the board recently so sorry if this has already been posted but here is the link to register to watch the NCM presentation tomorrow night at 22.30pm.

https://edge.media-server.com/mmc/p/tjtnz7az

Hopefully a few nice soundbites from Sandeep and perhaps a pertinent question or two at the end.

GLA - Paddy

Yes - I have seen today's planet.com update and agree that there have been substantial work completed since the last clear image, but I was going to wait for the Sentinel image tomorrow before posting on Twitter - I don't want to be accused of ramping now do I ?? :-))))

ATB - Paddy

It seems that nobody is prepared to be patient and actually invest anymore, is it because of lockdown where everybody is constantly checking and watching all the time. I'm still at work full-time so my time is limited now - blessing in disguise as far as I'm concerned.

Just ask yourself what has happened since last Monday when GH dipped his hand in his pocket again - Newcrest have completed another 7 days of drilling, another 7 days of excavations on the decline, another 7 days of mine infrastructure development.

They are planning to do 65,000 metres of drilling over the next 2 quarters - that averages out to 356m per day or just shy of 2,500m per week, every week for the next 26 weeks - come on folks just forget about the share price today , tomorrow or even next week - come back and have a look in 6 - 12 months time IMO.

GLA - Paddy

@strudel & @PQ - you are both correct I think. It is in the same location and I'm sure that area was a lined pit for the effluent when they were using the temporary exploration camp. That has obviously been disbanded now as they are using the new camp and the black liner has been absent for quite a while so interesting to see the access road to the explosives magazine and that new black sump style feature appear there again.

I can't say for definite that it is the start of the "growth" drilling but definitely worth keeping an eye on over the coming weeks IMO.

Good morning all,

Just checking back over the Sentinel image from last Thursday - great spot by PF to change the filter to NDVI which shows up the earthworks around the box-cut area really clearly. By the next update on Tuesday we should see a lot more progress.

I was then scanning the image using the normal settings and it looks to me like they may have started the "growth" phase of the drilling out to the NW of "Lake Havieron". There appears to be 2 new drill pads - one on the existing access track from the camp into Havieron and another to the north of the sand-dune along the track that leads to where the explosives magazine is going to be constructed.

https://twitter.com/paddygall1/status/1357993331473731585?s=20

Definitely something to keep a close eye on in the coming weeks. GLA - Paddy

@Chester, I don't think there will be any assay results from NCM on Wednesday night. This is their half yearly financial report. Sandeep will give a presso and answer questions and I'm sure Havieron will feature heavily but there won't be any drill results.

It's thirteenth weeks between quarterlies this time so I'm thinking the intermediate report will come on Tuesday 16th March or thereabouts.

GLA Paddy

Hi everyone - great to see some positivity percolating back into the board, I haven't kept up with today so I don't know if it already been reported by Strudel but there was a new radar image available today.

NCM are going for it as usual - hopefully we will get a clear day image soon to get a better idea of progress.

https://twitter.com/paddygall1/status/1356598740736495621?s=20

ATB - Paddy

Nice video from Rick @DVN11, if holding for 5 years is good enough for Rick then who am I to argue.

Remember that Rick rates GGP highly - I think people who have contacted him have had a rating of 3 for GGP which is about as good as it gets from him.

ATB - Paddy

More to the point Freddie GH has over 30million options of which the most expensive are 9million @ 3p and he still is prepared to put down over £100K of his own money to send a signal to the PI's and the market that GGP are now in the buy zone. He is a CEO who has always valued his PI's and lets face it we supported and built this company when no II would touch it with a barge-pole.

OK - the share price may have overheated slightly in comparison to the broker note but anyone with half a brain and armed with a little bit of research and foresight can surely see the endgame here. There are options to trade, sell-up and buy-in again and as I've always said if people are prepared to do this then good luck to them.

Personally I will sit it out as always and will wait for the market to catch back up with us again - it won't take too long IMO.

ATB - Paddy

Here's a link to a post by Salpetie on Hotcopper with a possible pathway to development at Havieron.

He is comparing Havieron to Newcrest's Ridgeway deposit at Cadia.

https://hotcopper.com.au/attachments/havieron-pathway-to-development-pdf.2865342/?filename=HAVIERON+PATHWAY+TO+DEVELOPMENT.pdf

ATB - Paddy

100% agree Tymers, nobody should take anything said by anyone as gospel on here, Twitter or anywhere else for that matter, unless you personally know and trust the source.

Everyone should do their own research before investing any of their cash. You get a good idea of who to believe as the source of the information will normally be quoted for people to check out themselves, as for opinions - they are like ar*eholes - everyone's got one and a lot of the time people are talking out of them as well.

ATB Paddy

@Newhaven - yes indeed and it's been noted by people who have been in discovery mining all their lives that never, ever has a major like Newcrest taken a discovery by a junior like GGP and advanced it at such speed and with such aggressiveness. Obviously they are not doing this for the benefit of GGP and it's shareholders - the mill at Telfer needs the Havieron ore yesterday, their pressing need is our good luck here.

We are all saying we need patience and that's true but in the grand scheme of things it's not that much that's required and the discovery of Havieron keeps growing every 6 weeks and to add to that NCM now have additional targets outside of Havieron but within the 12 blocks to drill test also.

No brainer - Paddy

@WF - that's a very good point and no doubt they will target the higher grade zones as quickly as possible. There will still be an element of grade control and they will want to put the the optimal blend of Au / Cu through the plant to maximise the recovery that they can from the ore.

That's where the black magic of the metallurgist (Hydrogen knows a specialist in this field) comes into their own - it's not all about putting the highest possible grades through all at once. Whatever they decide to do I'm sure that NCM are all over it like a rash - they are not going at Havieron at breakneck speed for the love of it.

GLA - Paddy

@Doggy, I wouldn't be quite so bold as to predict that. As I said there are a lot of other factors at the moment affecting investor sentiment and confidence.

All I will say is on every metric that I can see GGP is significantly undervalued on Havieron alone after the past few weeks, as always ignore the noise, focus on the fundamentals and wait patiently for the market to catch up with those who have put in the research hours, either that or trade it as you see fit.

Have a great weekend, Cheers Paddy

@Hani - I have absolutely no idea where the share price is going from here, might be up, might be down. There are plenty of other factors affecting markets at present. All I am doing is showing what effect the mining of the gold/copper ore will have on the AISC of Telfer in the future and how it will make Telfer a very profitable operation. How the market values that - I haven't got a clue....

ATB - Paddy

@TT - I have been looking at the table included in the Newcrest December quarterly report this morning. The costs at Cadia / Telfer are nicely broken down and we can use them to get a rough idea of where the AISC might eventually end up when Havieron begins to be processed.

The costs in the table are per/oz and we know the MRE at Havieron is for 2.0 g/t whereas the head grade at Telfer is 0.94 g/t at present, the also need to mine a lot more material at Telfer and sort through it to achieve that head grade thus adding even more costs.

So we are treating ore that is twice the grade and will potentially have less handing but more transport costs so lets be conservative and say the mining cost per ounce reduces from $779 to $500.

The milling costs are again per ounce and should be roughly half the cost as the grade is more than double so allow for a reduction from $433 to $215.

The real biggie is in the by-products. At present Telfer is treating copper at 0.09% whereas Havieron will supply ore at 0.31% and Cadia is 0.39% at present. So again lets be conservative and say the by-product credits at Telfer will increase from $167 per ounce to $800.

I have put together a little table using the values from the December report and then added another column to see what effect these changes could make on the AISC at Telfer (provided all the other costs stay the same) - it doesn't take much imagination to see how the AISC could be less that $500.

https://ibb.co/nz6PBQv

Telfer will be restored to it former glory as a cash cow and when the block-cave at Havieron becomes a reality in the coming years the mining costs will reduce further and eventually they may get to Cadia levels of AISC.

GLA - Paddy