Member Info for PaddyGall

Hi MS,
As Terry Wogan used to say - "you're leaning against an open door there". I couldn't agree with you more. If and when Havieron is proved up to be Tier 1 then we should see the warrants kick in our of we need to raise again so be it.
If Havieron is indeed 20Moz then we could be looking at 500,000 Oz's per year for the next 40 years - the mind boggles.
GLA Paddy

20Moz would do just fine Mickey

Nice to see our "publicly available satellite data" name checked in the RNS this morning lol.

New image available tomorrow.

GLA Paddy

Hi Condor,
Yes, I and others suggested that a while back and I'm sure there would be plenty of finance options open to GH should/when we get to that stage.
I really hope we do hold onto our percentage especially if this does develop into a Tier 1.

GLA Paddy

Exactly but isn't that what we have Numis on board for?? To get exposure to the II's that they deal with on a daily basis.
Surely if Primorus are so bullish after the AGM and subsequent meeting with GGP then Numis should be out there with the hard sell getting some of their clients lined up.
Can't wait for the end of January - Paddy

CC, that's what I've been doing every month for the last 12 months in my SIPP. I know I should be diversifying but I haven't bought any other stock this year.

Cheers Paddy

Twelve months later, with Newcrest now farming in to Havieron is, in our opinion, shaping up as a truly Tier 1 Australian Gold/Copper discovery that with continued exploration success has the potential to deliver in excess of 20Moz of gold and associated copper.

What do you guys think, but I'm guessing that they would have run that release by GGP before issuing it to the market this morning??

Very very bullish announcement. Alastair Clayton is putting his reputation on the line here if things don't turn out as he thinks.
Has he agreed to be the mouth piece for GH as he couldn't possibly come out with those statements. Let's see if Numis come up with any updated note.
Anyway it just further cements my conviction about what we have here.

GLA Paddy

I agree with Jambo and Timid - I can't see NCM making any kind of offer. They will go through the stages, find out exactly what they have 70% of and then the other 5% or 30% if (that's what they want) will be at market value. Still cheap to them but totally derisked.

This will give us the time we need to drill Scallywag and hopefully get another JV with a staged cash-up front format that would quash any fears of more CRs.

Q1 & Q2 of next year are going to be an exciting time and who knows Firetower/Warrentina & Panorama are still in the mix as unexpected left field news that could drop any day.

GLA Paddy

Strudel,
If you look at the following image you can see that Scallywag is between the 0m & 100m to depth contour lines.

https://greatlandgold.com/wp-content/uploads/2017/06/PatMagTen-_with-BH_06-11-17.jpg

But if you look at the image in Figure 4 on the JORC release on the GGP website it shows a cross-section of the Kraken target which has the historic holes shown also. From the scale it looks like the modelled chargeability is approx another 100m below hole TEA08004.
https://greatlandgold.com/wp-content/uploads/2019/10/20191030-GGP-Announcement-Scallywag-Geophysics.pdf
While it would be great if it started from surface if they hit good grades at 200m then it's still considerably less than Havieron and the near term focus would in all likelihood change to Scallywag.
Should be an interesting Q1 next year.

GLA - Paddy

Agreed Strudel

And with the support of the Havieron field camp there's every chance that they will be out in the field before March/April.
I'm pretty sure that NCM are using DDH1 to do their drilling and that's who we've used in the past. If that have teams in the field for NCM in January then why not for us once they've got the use of all the facilities.
It's only 5km to Scallywag from Hav.

Cheers Paddy

I've put a couple of tweets with images attached out this morning. Links here for anyone interested.

https://twitter.com/paddygall1/status/1203599947435827201
https://twitter.com/paddygall1/status/1203602685183897605

GLA - Paddy

Thanks for the replies guys, I did put that theory forward a few weeks ago thinking that the sumps would be used for multiple holes if they were close.
I have absolutely no experience in mining apart from what I am gleaning over the last couple of years on here so I appreciate all the info.

Enjoy the rest of the weekend - Paddy

Sadly looks like there were no new drill pads prepped these last 5 days. Two more updates takes us to the 17th and I wouldn't expect any more then until after the Christmas break.

Good find on the copper - GH days in the interview last week that the copper equated to about another 0.8g/t gold in the mineralised zones so that's quite a significant addition to the gold intercepts.

I wonder what next week will bring for us??

GLA Paddy

Message today on the ARV board on HC. One of the guys there has said he's buying GGP next month. Maybe our Aussie cousins will start to take some more positions going forward.

https://hotcopper.com.au/threads/newcrest-havieron-update.5029769/page-46?post_id=41841505

Cheers Paddy

I'm guessing if they could set up a Block Cave at 70% of the cost of Cadia and in 70% of the initial time it took there then it would make sense to bulk mine it all in one go.
Remember they are Block Caving @ Cadia on a head grade of just over 1g/t and can do it for an AISC of $132.
I realise that this doesn't take the initial CAPEX spend into account but Telfer has an AISC of around $1200 - $1300 at the moment.
For an idea of CAPEX costs have a look at this feasibility study for Oz Minerals for Carrapateena from 2017
https://www.ozminerals.com/uploads/media/170824_ASX_Release_Carrapateena_Feasibility_Study_Update_Presentation.pdf
On Slide 22 there is a breakdown of costs - the total cost was $916M but that included plant, airstrip, camp costs etc.
The decline development cost was $171M.

Personally I think they will go for it as a bulk operation from Day 1.

Remember we should hopefully be able to see what NCM have been up to this week from the new image in the morning.

GLA - Paddy

Timid, I don't think there was anyone from NCM or GGP that specifically said it would be a Block Cave.
I know you've watched it but look again at the Denver Gold Presentation webcast -

http://www.denvergold.org/company-webcast/dgf19/88/

@ 13.35 minutes Sandeep discusses the trials that they are doing on Block Caving undercuts at Telfer & Cadia which if successful could lead to a 30% saving in time and cost in setting up a block cave and then straight after he says "which given our suite of block cave opportunities going forward could rattle off into a number of opportunities to leverage that technology - so watch that space"
Straight after that @ 15.50 the Havieron slide comes up and he discusses the drilling and structures in detail.

Cheers Paddy

I think there were multiple g/t scenarios in the Sprott report but Jonathan Guy definitely referenced 2g/t in the Numis note (well at least the bit that we got to see).

Ok so if we assume the parameters as Timid suggested (conservative some may say) earlier
300m diameter & 1000m depth.
Volume = pi*r²*d (3.1416*150²*1000) = 70,686,000 m³
Tonnes = Volume * Relative Gravity (70,686,000*2.7) = 190,852,200 tonnes
Assume (conservative) 1.5g/t (190,852,200*1.5) = 286,278,300 g
Troy Ounce = g/31.1 (286,278,300/31.1) = 9,205,090oz

The thing here is if we have a base resource of somewhere around this – now for every 100m that we extend (assuming the width stays at 300m) the formula changes to.

Volume = pi*A*B*d (where A & B are the radius of the two axis)

So, for 400m of strike length assuming the depth stayed consistent the numbers would be.

Volume = pi*A*B*d (3.1416*150*200*1000) = 94,247,700 m³
Tonnes = Volume * Relative Gravity (94,247,700*2.7) = 254,468,790 tonnes
Assume (conservative) 1.5g/t (254,468,790*1.5) = 381,703,185 g
Troy Ounce = g/31.1 (381,703,185/31.1) = 12,272,033 oz

So, for every extra 100m of strike (assuming constant width & depth) the orebody could grow by 3 million ounces.

If you change the g/t to 2 then the initial figure is 12.2 million and it grows by 4 million for every 100m

Obviously, this is just for illustration and is not to be taken as gospel – it just gives an idea of where we could be at and how quickly this could grow.