The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Sorry guys, DeGrey won this award. I guess it was always going to be favoured to an ASX listed stock
https://twitter.com/kristiebatten/status/1466394218356609024?t=ZbcIQtA58-YBaZtvjfbtSw&s=19
I've noticed in the recent Havieron Stage 2 document that was posted for public comment contained an image that showed the position of the decline had moved further South than the position in the original mining proposal.
I'm guessing this was necessitated by the additional drilling that was done between the original proposal and the actual start of the decline showing that the SE crescent area was ever expanding to the S / SE and the spiral section of the decline needed to be sited further away for stability reasons (only guessing here though)
What I did realise last night was the position of the foundations for the raise bore machine would be affected also and it lead me to look back at the satellite images over the past month or so as GGP stated in the last update that preparations for the vent raise would begin in this quarter.
https://twitter.com/paddygall1/status/1466666423795654659?s=20
A quick measure from the box-cut to the area where the concrete pad seems to be installed gives a distance of around 600-650m. I'm not saying the decline is that far along yet but the fact the pad seems to be in place means they must be anticipating getting to that area pretty soon - all IMO.
ATB - Paddy
Well - not too much longer to wait for the next set of assays from Havieron. If they stick to the Thursday regime then we will have them in a week or if they decide to go right in the middle of the two quarterlies then we could get them on Tuesday 14th (Monday night in the UK) - co-incidentally the morning of the AGM. Expecting to see the usual plethora of good results from the SE crescent (hopefully puts more meat on the bone of the results at depth) and the Northern breccia / NW Pod. Would really love to see some results from the depth's in the Eastern breccia.
Just had a count up of the holes that are awaiting assays from the last results - 23 in total - and add in some new ones, should be a bumper set again.. fingers crossed.
HAD053W5
HAD053W6
HAD061W1
HAD061W2
HAD061W3
HAD068W4
HAD076W1
HAD085W1
HAD085W2
HAD086W2
HAD086W4
HAD133W4
HAD133W5
HAD141W1
HAD148
HAD148W1
HAD148W2
HAD149
HAD149W1
HAD150
HAD150W1
HAD151
HAD151W1
ATB - Paddy
Eastern breccia is definitely 100% inside the 12 blocks of the JV as is the drilling at Zippa and Havieron North which is even further N / NE than the Eastern.
If it proves up to be as juicy as we all hope then 30% will be most welcome.
Nice piece by Newcrest's Fraser MacCorquodale in this article - thanks to @StuHInds on Twitter.
https://www.australianresourcesandinvestment.com.au/2021/11/23/wa-gold-mining-activity-snowballs/#more-3483
Newcrest Mining, Australia’s largest gold miner by market capitalisation, is eyeing additional gold deposits surrounding the Havieron gold-copper project in Western Australia’s Paterson Province.
The company entered a six-year farm-in agreement with Greatland Gold for the project in May 2019.
Havieron contains an initial inferred resource of 3.4 million ounces of gold and 160,000 ounces of copper, with Newcrest general manager Fraser MacCorquodale saying its growth program will help expand the project’s mineral resource.
“Over the past few years there have been some great exploration success stories coming out of Australia,” MacCorquodale says.
“The best example is the Havieron discovery by Greatland, who were willing to drill holes up to a kilometre and the reward for both companies out of that has been fantastic.”
The Havieron project is a joint venture between Newcrest and Greatland Gold. Image: Greatland Gold
Newcrest is exploring the South East Crescent Deeps, which display high-grade gold that is open at depth; the Northern and Eastern Breccia targets, which also show open higher grade mineralisation; and other geophysical targets near Havieron.
The company is searching for a larger zone of mineralisation through its Northern and Eastern Breccia targets, which may display similar traits to Havieron’s North West Corridor, while the mineralisation of South East Crescent deeps is still being determined.
“This is all about (finding out if there) are there more Havierons floating around Havieron,” MacCorquodale says. “We’re looking forward to see what is coming out of our drilling programs.”
I think we're all looking forward to that Fraser but you guys are months ahead of us.......
GLA - Paddy
There it is in Black & White
Newcrest seeks approval of Stage 2 of the Project (the Proposal), which includes the development of
the underground mine and associated infrastructure (infrastructure corridor to Telfer):
? Clearing of 530 ha of new disturbance and use of 200 ha of currently approved disturbance
including Stage 1 (191 ha) and existing disturbance within proximity to Telfer (9 ha);
? Development of an underground mine;
? Construction and operation of a 50 km infrastructure corridor from Havieron to Telfer Gold
Mine for the transport of ore, water, electricity and site access;
? Continued abstraction of 2 GL per year of groundwater; and
? Expansion of associated infrastructure.
There was never any doubt - Paddy
Anyone see the latest tweet put out by Artemis today? Cracking picture of the ongoing drilling at Atlas & Apollo?
https://twitter.com/ArtemisResource/status/1462386347843493891?s=20
Havieron would be to the right of the image - Atlas hole #2 is to the left (next to the Artemis field camp) and the Apollo hole #1 is in the foreground with the next two pads prepared behind it.
Any hits up there is going to ratchet up the intensity in that area even more - Paddy
https://twitter.com/ArtemisResource/status/1462386347843493891?s=20
I agree @JoshSheps - Artemis have completed one hole at Atlas and are currently drilling a second one there and their first one at Apollo.
There will be a big queue of suitors at the door of Artemis - RIO are drilling next door to them at Budgiedowns and NCM at Havieron - I can't see us getting in ahead of them and in reality we have more than enough to keep us occupied over the coming months and years.
If Shaun has his eye on anything from an M&A perspective then I'd expect it to be some sort of small producer than would bring some kind of income stream into the company. Looking forward to hearing what he has to say next week - I'm sure Andrew Scott will ask all the "relevant" questions.
GLA - Paddy
Hi Jerry, I agree. I'm not going to speculate on the reasoning for the placement (we'll find out in good time) but it wasn't too keep the lights on with circa £6M in the bank, but it's been done and anyone who wanted could get them easily this morning, I did.
If Shaun were not too take any in the placement and then bought this morning on the open market, would people have been happier with that??
Interim Havieron results, AGM, Juri Results, Scallywag Results, Quarterly Havieron results, MRE 2 plus any left field news - lots of reasons to stay invested here.
ATB Paddy
Just done a little video on Twitter that focusses on the Northern neighbours today. Compared with the image from 5 days ago then they have been rather active up there. I know they released an announcement stating that a second rig was to start at Apollo this week and they have not hung about looking at the update.
https://twitter.com/paddygall1/status/1460549669839425540?s=20
Also it looks to me like the initial hole at Atlas has been completed and I couldn't swear to it but it looks very much like the signature for a sump pit and drill rig right next to where their field camp is set-up. That is roughly 2km due west from where the initial hole at Atlas is and getting close to the boundary with Scallywag on that side too.
We won't be short on newsflow over the coming months for sure.
ATB - Paddy
Well that was another fantastic, confident presentation by Shaun – it’s plain to see that he is getting more comfortable in his skin with every passing day and seems to be the class act that we all had hoped for and will be more than capable of overseeing the transition from minnow explorer to mid-tier developer/explorer/producer over the coming months.
Our investments are in good hands and as a good friend said last night it seems as though Callum has chosen well.
I thought the questions that were posed were suitably difficult and Shaun tackled and answered them well, most looking forward to his impending purchase now that the window of opportunity has opened for him – he will no doubt want to get some under his belt before the inevitable grind back up to higher levels.
It will probably take time but seriously if you believe in where we are headed then who cares.
Also significant that Shaun conformed that there was Nickel occurring at Havieron in greater quantities than the copper in certain areas – I’m sure that’s the first time we’ve ever heard that revelation. Also hoping that some news from the “Newgengold” conference might start to leak out over the coming days – that might put some sort of colour on the mention of Nickel and any other base metals at Havieron
In other news I see that Artemis announced last night that their second rig has turned up and has begun drilling at Apollo now – that’s quite a bit of activity now within that area around Havieron North, Zippa, Apollo & Atlas.
All taken in conjunction with the higher inflation and higher gold prices narrative then it looks like the ducks are beginning to form an orderly queue again
ATB - Paddy
Forgot the link.
https://twitter.com/paddygall1/status/1458818064519213059?s=20
Lots to see on the satellite update today - we are still missing the image from the 6th November and the 1st November was cloudy so the compare is with the last good image on the 27th October - there is a lot to see.
Artemis are busy drilling away at the Atlas target but interestingly there appears to be a new drill pad that has appeared almost on the boundary with Havieron and directly south of their drilling - right on strike with the mafic dyke that runs through Havieron and up into Atlas. They've been drilling Atlas for over a week now so I'm assuming they are into the basement rocks by now - hopefully this new pad is a sign that they are liking what they are seeing.....
No sign of any activity at any of the 3 Apollo targets yet.
There has been plenty of movement around the 3 NCM/GGP targets in the Hav North / Zippa targets over the past few weeks and this is the second time that we have seen NCM in these areas although admittedly the first time may have been to drill pre-collars and do survey work?
Even more interesting is the fact that RIO have now started up at their targets in the Budgiedowns area - they prepared the pads up there months ago. Is is a co-incidence that they are stepping up their activities just as Artemis are beginning drilling? I doubt it very much.
All in all - it looks like it's going to get much busier out there in the coming months and none of this even takes into account any of the growth drilling that has been pencilled in for Havieron.
Roll on 2022 - Paddy
https://www.afr.com/companies/mining/newcrest-finds-missing-piece-in-growth-puzzle-20211109-p597ho
Newcrest finds missing piece in growth puzzle
Peter Ker
Nov 9, 2021 – 6.23pm
Newcrest Mining’s five-year mission to collect growth options may be complete after it announced it would spend $US2.8 billion ($3.8 billion) to add a producing gold mine to its fleet of longer-term prospects.
The acquisition of Canadian miner Pretivm and its Brucejack gold mine will instantly arrest Newcrest’s declining gold production profile, which had looked set to continue until 2024 before the company’s long-dated growth assets started to reverse the trend.
Newcrest chief executive Sandeep Biswas’ mission to offset the decline of the Cadia and Telfer mines began with the 2016 acquisition of a strategic stake in Ecuadorian explorer SolGold and continued with the $US806 million acquisition of Canada’s Red Chris mine, debt and equity exposure to Ecuador’s Fruta Del Norte mine and a partnership with Greatland Gold over Australia’s Havieron discovery.
When added to Newcrest’s long-delayed interest in Papua New Guinea’s Wafi-Golpu project, the buying spree left Newcrest with a suite of assets scheduled to deliver in the latter half of this decade, but little respite from declining gold volumes in the immediate future.
But Tuesday’s acquisition filled that gap, with Newcrest expecting Brucejack to add about 370,000 ounces of gold to its portfolio in 2022; the equivalent of about 19 per cent of the gold volumes the company promised to deliver in the year to June 2022.
Asked whether the cash and scrip acquisition of Pretivm was the last piece in Newcrest’s growth puzzle, Mr Biswas said further acquisitions could never be ruled out, but were far from urgent.
“We don’t need to do anything else, we are well set, we have a stable asset base, diverse cashflows, we are well into the 2-million-ounce-plus range going forward with other organic growth options,” he told The Australian Financial Review.
“If something comes along that is fine, but we don’t need to do anything.”
Brucejack is located less than 200 kilometres from Red Chris, giving Newcrest a significant presence in British Columbia.
The deal will be executed through cash and scrip, meaning Mr Biswas will make good on his August suggestion that Newcrest’s Toronto listing was largely created to help facilitate scrip acquisitions in North America.
“It is a great complement to Red Chris to allow us to bulk out in British Columbia and then take the next step into the Americas in setting up a more substantial base in British Columbia,” he said.
Mr Biswas said he would appoint a member of his executive committee to be based in the Americas and be in charge of Newcrest’s assets in the western hemisphere.
While the imperative for further acquisitions has reduced with the instant gold volumes and cashflow from the Pretivm deal, Mr Biswas said he still wanted to unlock further latent growth from within his portfoli
Havieron is up for another "Best Discovery" award. This time it's the AMEC award (we all remember Callum's presentation to AMEC with "that" screensaver in the background) which will be decided in early December.
More industry recognition of the beast that lies below (if you needed it) but carry on and listen to the keyboard warriors who will tell you it's a sub-economic deposit - LMAO.
https://www.linkedin.com/posts/association-of-mining-and-exploration-companies-amec-_and-the-one-weve-all-been-waiting-for-activity-6862176925675241472-DMIK
GLA - Paddy
Video coverage of Havieron coming through the field to win.
https://twitter.com/SkyRacingAU/status/1456443747839864834?t=7zuiICm-pWF1ElYPf18OHQ&s=19
GLA Paddy