The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Well Stuwoo, I see exactly where you are coming from but who was it who initimated that scarism was the lowest form of wit :-)).
There is historical surveys over both Tabletop anomalies that show they are very attractive targets but obviously the proof will be in the drilling.
It's the right postcode though and I won't be being against them.
ATB Paddy
Good morning all,
Well it seems my suspension from posting has been lifted this morning as they said it would be. I have a bit of a busy day at work so just a quick note to say thank you to all the myriad of support from people on Twitter, Telegram, ADVFN and of course here. I haven't made any decisions one way or the other about continuing to post on here, I will take a couple of days to mull it over.
It's a shame because when the board is working well - it really is a fantastic source of info. I'm happy for people to point out negative points as it makes me re-evaluate my research and re-check facts.
Thanks again to everyone for the support - we will have the last laugh - GLA Paddy
Hi Jim - long time, hydrogen posted the text from the article a little earlier today if anyone wants to check it out. Some great comments from Sandeep and it seems he intends being around to watch "his" baby grow.
ATB - Paddy
Cheers @AG1989 - I have been in email contact with Salpetie for about 3 years now and we swap ideas about all things in the Paterson but specifically Havieron for me. I remember well that table that he is referring to from a while back and I like his method of placing the 400 x 400 box over the orebody to allow gaps at some levels to be filled in by bigger areas at other levels. 400 x 400 is probably a good average for what we now know.
People can read the post and make their own conclusions - here is the direct link to the post
https://hotcopper.com.au/threads/paterson-province-2018-and-future.4596344/page-169?post_id=57206391
I do like the analogy at the end of his post though -
"Someone recently used the analogy of a python eating an elephant to describe the approach NCM/GGP are using to develop Havieron. NCM have used it to great success at Cadia East.
Mining the High grade core is like the elephant going into the python. However, the python doesn't need to search for another source of food for a long time. The Capex is paid back and the next 10-50 years only require maintenance capital that is funded out of production. Look at Cadia Easts AISC - one of the lowest around."
ATB - Paddy
Suddenly there seems to be a bit of urgency with the activity out at Havieron North & Zippa. I can see that NCM have 2 rigs working out there now. Why the sudden urgency - could it be to do with the fact that Artemis are about to start drilling at Apollo any day now?
https://twitter.com/paddygall1/status/1453307279336480776?s=20
Should be a cracking few months - looking forward to seeing it all play out.
GLA - Paddy
Absolutely spot on FUBAR - if you look at slide 5 in the recent "Growth Presentation" the final stage has the title "First production CY23-24" which would tie up nicely with 1H FY 2024 IMO.
https://greatlandgold.com/wp-content/uploads/2021/10/GGP-Growth-Update-Final.pdf
ATB - Paddy
@Goldworm - I'm sure you are right about the subtle and not so subtle hints that Shaun has been increasingly dropping over the past weeks. It's completely evident in his demeanour and the emphasis that he puts on the new geochemical signature found is telling IMO. I just hope we start to see this emerge in the results tomorrow night.
If this is a completely new pipe which sits alongside the main Havieron pipe then what's the possibility of that being repeated again further North at Hav North - thru Zippa and on to Apollo??
Exciting times for sure - Paddy
Interesting theory Goldworm. Any particular reason why you have that hunch - is it purely down to Shaun's description that there is a different geochemical signature from the Eastern breccia?
I must admit that I am rather looking forward to seeing exactly what is lurking at the depths in these step-outs at the Eastern breccia and then on up to the proximal targets of Havieron North & Zippa.
I can see on the satellite image from planet.com that there appears to be activity on the most North-westerly Zippa pad which is the closest one to the Apollo target on the Artemis ground.
Things really seem to be hotting up out there (and that not just the summer season coming in).
ATB - Paddy
Agreed Poni, I'm looking forward to it immensely myself (although I always look forward to them in fairness). Not sure on the amount of holes we will receive assays for but there were 21 sets outstanding in the table at the bottom of the last report and they would have been completed weeks before. We've have the time since they were completed until the date of the last report and the 7 weeks in the interim.
Depending on the capacity at the labs I would hope for somewhere between 15 & 20 sets of assays.
I'm hoping for some more results at depth under the SE Crescent - HAD090AW1 looks to be in that area and goes lower than the HAD133W1 & W2 that were reported in September.
At the very minimum we should get HAD141W1 & HAD081W3 which both extend into the Eastern breccia. Hopefully they will give us some idea of why Shaun gets animated every time he discusses the Eastern breccia.
We should also see other results from the Northern Breccia and the NW Pod which will be trying to establish that the high grade continues along that NW trend and both those targets are linked.
I still expect to hear the words open at depth and in multiple directions and it would be good to get a progress report on how Byrnecut are progressing with the decline.
I don't think we will hear anything about the 3 holes that we know they have done in Havieron North & Zippa but something from there would "blow the bloody doors off" - we may have to wait until December for that though.
GLA - even the traders - but especially to the LTH's - Paddy
There is clearly activity at the Northernmost drill pad again since the previous update on the 17th October.
Now why would NCM be back up there after a couple of months??
https://twitter.com/paddygall1/status/1451486493558575112?s=20
I can clearly see that there is activity on the Southernmost of the 2 prepared pads at the Teach target in our 100% owned Scallywag licence too. It's amazing how close that target is to Havieron as you can see in the video capture.
ATB - Paddy
If you go to the results table at the end of the last report in September you can see the holes that have assays outstanding - I count 21 holes pending assays - these would have been completed at least 4/5 weeks before the September report was issued to there will be plenty more holes completed since then as well.
Here's the list of holes that are pending assays
HAD046W2
HAD053W3
HAD053W4
HAD061W1
HAD064W1
HAD068W3
HAD069W3
HAD069W4
HAD081W3
HAD084W2
HAD086W2
HAD090W1
HAD117W2
HAD117W3
HAD117W4
HAD117W5
HAD117W6
HAD141W1
HAD147
HAD147W1
HAD147W2
So whatever way you look at it - there is going to be a lot of results coming in over the next 2/3 reports as the new Intertek lab gets up to speed and starts to make inroads into the backlog of cores.
GLA - Paddy
Interesting post on Hotcopper from the Aussie Geo Salpetie who has long been interested in the Havieron deposit.
There is a pdf attached to his post which makes for very interesting reading, sorry @Tymers but it is geology again and not economics.
https://hotcopper.com.au/threads/paterson-province-2018-and-future.4596344/page-143?post_id=56977311
ATB - Paddy
Not only that but it's the day after GGP/NCM are due to give a presentation on Havieron at the newgengold conference in Perth.
https://www.newgengold.com/programme/
I like that title, Havieron Gold copper Deposit : the next generation of undercover discoveries.
Maybe Shaun might have some nuggets from that presentation to share with us also.
ATB Paddy
Well nobody can deny that Shaun is doing everything possible on the PR front to engage with investors.
GGP are presenting at the proactive forum on the 11th November.
https://www.proactiveinvestors.co.uk/register/event_details/369
ATB Paddy
I just listened to the webinar and I thought it was another polished performance from Shaun, even if he was cut off in mid-stride. I think he could have easily done with another 30 mins and perhaps he could have got to more of the submitted questions. Really pointless of LSE asking people to submit them if there's never going to be an opportunity to pose them.
A few points stood out to me.
1. Shaun was at pains to explain the capex would be completely carried by the FRACTION of the orebody contained in the PFS and the IRR was still a very attractive number - this means that any additional ounces which are converted into indicated will be very lucrative as there will be a very small capex requirement to develop them.
2. He addressed the funding question and mentioned that this PFS would be a bankable study whereas normally a DFS would be required to be in this position.
3. He was visibly excited again when talking about the Eastern breccia. He mentioned it's a new intrusive with a slightly different geo-chemical signature, perhaps a signature that might include a modicum of Nickel perhaps - that would cheer up hydrogen lol....
Happy as a sand-boy - roll on next Wednesday night - Paddy