Member Info for PaddyGall

Just found this link to a blog by the Angry Geologist on CEO.ca

http://angrygeologist.blogspot.com/2020/05/winu-exciting-times-in-pilbara.html

He is taking a look at the Winu & Havieron discoveries in the Paterson. This one is dated Friday 1st May and is concentrating on Winu but at the end he says that next week Havieron will be up for analysis.

He has created leapfrog 3D models of Winu so hopefully we will see more of the same this Friday.

GLA - Paddy

Timber - I think he was talking about up to 2 million tons of high grade ore from the stoping operation that would target first. This would keep Telfer ticking over nicely (he actually said - that's a lot of ounces for not much material) while they would be putting in the block caving infrastructure I would imagine to covert Havieron into a bulk mining operation.

https://www.newcrest.com/investor-centre/presentations

If you click on the view the webcast it says - 'the live event has finished - return later for the replay' so should be available sometime this afternoon.

He said the grades in the high grade area were 10 times better than what they are treating at Telfer now. That means they are looking at around 7 g/t - Telfer will be printing money for NCM.

Got to say - I don't think that could have gone much better, I loved the bit where Sandeep cut across Sophie to say 'we've got 9 rigs drilling 24/7 so we're going as fast as we can' and also where he intimated he would love to start the decline tomorrow if he could get the permits in place.
Happy as the proverbial 'pig in sh*t' - Paddy

Great questions on Havieron and you can tell he's excited as ever about the opportunity - he's talking about Havieron as a mine already.
ATB - Paddy

What do you think the market reaction would be if the initial MRE came back with a resource definition of somewhere between 7-10 million ounces?

Bearing in mind that to be included in the MRE the drilling would need to satisfy the JORC drilling standards in relation to drilling density and whatever other criteria they need to apply. Therefore any step-out drilling that hits and any deeper drilling that hits would NOT be included in the MRE.

Would everyone here be happy with an MRE at that sort of level ? I only ask the question because I think that is where we are headed and perhaps people on here are expecting an MRE of 20-30Moz, but it's worth reminding yourself of the criteria that NCM use to define a Tier 1 deposit.

https://ibb.co/D8d0jMN

So in theory anything above 4.5Moz would put Havieron firmly into the Tier 1 category, especially as we would know the results from some of the step-outs by then and the resource would get added to as we go along.

Patience is required as always here - Paddy

Seems like Sandeep is doing a webcast for the Bank Of America, Merril Lynch Conference at 12.20pm today.

You can register to watch the webcast and download the presentation & briefing book from here.

https://www.newcrest.com/investor-centre/presentations?year=2020

ATB - Paddy

Yes mushroom - but remember we don't have to accept the offer and I'm sure if we had a "visible mineralisation" RNS like the HAD005 one we got then people would be loath to accept any perceived lowball offer from NCM.

Personally I don't think we should accept any offer from NCM at MRE stage regardless of what we find at Scallywag - the only reason NCM will make any offer is if is more advantageous to them so I'm all for seeing the farm-in through to completion and then getting our offer based on "fair market value" of the fully explored system.

GLA - Paddy

Hi Timber,
Here's a few images of the drilling laid out on Google Earth to show where the drilling is at present in relation to the boundaries and the other historical drilling at Scallywag.

First image is a zoom in of the current results from Newcrest laid onto the drill collars from the report.

https://ibb.co/dWDxNvZ

Then I zoomed out to show where this drilling is in relation to the Newcrest farm-in blocks which are the area bounded by the white border. The green grid lines are 1km and the yellow lines are 10km.

https://ibb.co/JK6XtB3

Then I zoomed out once more to show the complete 'Havieron' license area which obviously includes the Scallywag targets. The historical hole marked TEA8004 is the one that is pretty much in the centre of the Kraken target.

https://ibb.co/Cny9Bxw

ATB - Paddy

Definite signs that the step-out drilling to the NW is underway from today's satellite update. Slightly obscured by cloud cover but looks to me like they are back at the drill pad in the NE where they already had drilled HAD046 & HAD048 to the pre-collar stage.

Also the drill pad where HAD041 was drilled to pre-collar seems to have expanded quite a lot in the centre so plenty of activity there and there also seems to be new activity circled in the SW.

https://twitter.com/paddygall1/status/1259413786261422081?s=20

GLA - Paddy

Hi Scottie,
I did post yesterday that I was very impressed with the presentation and thought it was very professionally put together and explained to the layman the processes behind the composition of the Telfer & Havieron deposits and the wider Paterson region.

I have been in contact with magictrades by email and hopefully he and a couple of other Geo's are getting their heads together to formulate other ideas and theories on the region.

If there are 2 giant deposits in the region then there's a good likelihood of there being even more.

ATB Paddy

Article in the Australian Financial Review -

https://www.afr.com/street-talk/newcrest-swamped-by-investors-in-us-bond-market-20200507-p54qm3

apparently Newcrest could have raised much more if required and the book was oversubscribed by nearly 8 times.

schlemiel - thanks for the link. Interesting that Encounters target is on the trending NW fault to the West of Telfer and Havieron, Scallywag & Winu are on the NW fault to the East.

Imagine if we get a couple of drill intersections like the pictures in that release from our drilling at Scallywag.

ATB - Paddy

Can I add my appreciation to Magictrades for the time & effort that he has put into producing this very professional and informative presentation. I had an early night yesterday so only caught up with it this morning.

It's great to see some people with 'actual' geological experience & knowledge beginning to contribute to the board & the story rather than amateurs like me making wild stabs in the dark.

Onwards & upwards folks, roll on June - Paddy

Hi Magictrades,

Fantastic - looking forward to reading it - I've picked up a fair bit over the last 2.5 years while I've been here so I'd love an in-depth summary also if it's not too much bother for you to put together.

Thanks - Paddy

Sorry Jezzus - I missed that yesterday, I was switched off for most of the day as I was working in the garden. Heading back out there now to make the most of the good weather.

ATB Greatlanders - Paddy

For anyone who is interested in a bit of research - at 12.58 mins into the presentation Callum was looking at a cross-section of the mineralisation which had the measurements 400 x 1000 m printed on when he casually referred to Havieron as a 'breccia pipe'. I hadn't heard anyone in the company refer to it as this before so decided to do a bit of my own 'digging' last night.

I found this very interesting article all about 'hydrovolcanic breccia pipe deposits' - have a read through it and see if any of it seems relevant.

https://scholarcommons.usf.edu/cgi/viewcontent.cgi?referer=https://www.google.co.uk/&httpsredir=1&article=1166&context=geologia

ATB - Paddy

5 weeks away to the next interim results from Newcrest, but don't rule out any news on developments on other projects between now and then.

ATB - Paddy

thanks magictrades - looking forward to reading it.
Thanks - Paddy