The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
@Freddie - give it a rest mate, did you read the article in the Gold Journal over the weekend. The selection process for the new GGP CEO was an extensive process that took months to complete. Callum was the original founder of GGP and he obviously wanted the right man at the helm to take his "baby" to the next level.
Shaun is not an NCM man - he is the CEO of Greatland Gold and he wants to build it into a mid-tier Aussie mining company. I'm 100% behind him and believe he is 100% the right man to get the job done.
ATB - Paddy
@unimaginative - I would say that's a reasonable assessment but we still have a lot of drill results from Juri Stage 1 that we haven't seen yet and qualify that also with the fact that NCM regularly walk away from JV's that aren't performing and they won't be committing another A$17M without a degree of confidence.
Still it's all down to the interpretation of the data by the experts and ultimately the "truth machine"
ATB - Paddy
Look at the terms of the Juri JV agreement at the bottom of the project page.
https://greatlandgold.com/projects/juri-joint-venture/
NCM had 24 months to spend the AUD$3M to allow them to move onto the next stage - they've completed it in less than 12, says it all really. The drilling and the spend is going to rise dramatically next year too and with the info that has been gleaned from this year's campaign then who would bet against them - not me.
GLA - Paddy
Big vote of confidence from NCM in the GGP management also - keeping them as manager's of the JV drilling whilst increasing the budget substantially. Great things to come - cements the partnership even more IMO.
GLA - Paddy
@Dip66 & @thelearner - I have only just found the transcript notes, wasn't on LSE all that much at the back end of last week as very busy at work. I must say that even though I had picked up on Shaun's enthusiasm when discussing the Northern & Eastern breccias it's far more compelling when you read it at the same time.
Definitely adds credence to the comments from Hydro and puts into context the comments from both experts Alan Wilson & Dr Brett Davis also I feel.
Next Wednesday week can't come quick enough - ATB Paddy
For anyone with any doubts about the authenticity of the Havieron deposit then I urge you to check out the comments in this LinkedIn post by the Tasmanian University in relation to their PhD opportunity to study it.
https://www.linkedin.com/posts/david-cooke-631b9213_geology-genesis-of-the-havieron-deposit-activity-6839097920944533504-s5QE
There are a couple of comments that I would draw your attention to - the first is by Alan Wilson who is named as a contributor to the "newgengold" conference to be held in Perth next month.
"Amazing deposit with fascinating geology. Excellent project for a geo interested in both the hydrothermal and structural aspects of economic geology in an emerging world class gold-copper province."
Here's the link to the conference - https://www.newgengold.com/programme/
The second comment is from Dr Brett Davis who is the structural geologist who quoted Havieron in the most recent coring magazine publication when asked about the most interesting deposits that he had worked on.
"A fascinating deposit so this is a great opportunity to work on a truly great metal accumulation."
Here's the link to the magazine article - https://coringmagazine.com/article/qa-from-experts-conversation-dr-brett-davis/
You can check out the credentials of these experts by clicking on their names in the LinkedIn post, so it's not just Shaun & Sandeep that are singing the praises of Havieron - as Hydrogen says - Havieron has the possibility that it may end up re-writing the geology books.
ATB - looking forward to the next set of results as always - Paddy
GGP is one of the 4 candidates for the CDF Discovery Award today.
The coverage starts today at 1pm - you can tune in on YouTube at the following link.
https://www.youtube.com/watch?v=6lGaV9vbH5c
GLA - Paddy
I know we have been saying it for the last few reports but I do think this next set in 2 weeks time will be off the charts. I have a funny feeling that the Eastern breccia will start to really show what is hiding down in it's depths - Shaun's demeanour when he spoke about it yesterday was a give away IMO.
So maybe there is a game to shake off as many people as possible between now and then - I don't really know, all I do know is I'll be hanging onto every single one of my GGP shares until the game plays out.
ATB - Paddy
They can only use assayed drill data that has been infill drilled to a certain density (I think it's 50m but don't quote me) in the PFS.
All the other inferred resource and all previous drilling that didn't make the inferred category and all of the growth drilling from this year - none of this is included in the PFS and every hole they put in the ground is still hitting Gold.
It's going to be a massive, massive system as it stands - any more satellite deposits or proximal targets hit then forget it. We need to do everything in our power to support Shaun & the BOD to allow them to keep hold of this precious jewel as he described it himself yesterday. This is the launch asset to allow him to build a new mid-tier miner - even NCM had to start somewhere.
GLA - Paddy
Looks like NCM might be revisting the drill pad at Havieron North where we first saw them a few weeks ago.
Did they discover something up there that warrants a closer look? Interesting that they are there just as Artemis are about to kick off their drilling campaign at Apollo.....
https://twitter.com/paddygall1/status/1448289474715205639?s=20
ATB - Paddy
"The Havieron deposit in north Western Australia is a beautiful deposit with amazing world-class textures. This is a relatively new discovery and much of the geological detail hasn’t reached the public yet, but when it does, people will be seriously impressed. Full kudos to the drillers who have managed to provide consistently oriented core over hole lengths approaching 2 km (˜ 1 mi)." - Dr Brett Davis
I wonder which geological detail he's referring to - it's certainly not the sulphides that are well known now for over 2 years.
ATB - Paddy
Well - there it is, the confirmation (if it was ever doubted) that we are going mining at Havieron. While the indicated oz's (which the PFS was always going to be based on) might not be to everyone's satisfaction - it more than justifies the outlay of capital that NCM & GGP have spent so far and leveraging the Telfer infrastructure means that we will be mining and turning a profit sooner than ever.
The other 1.7Moz of the inferred will be converted to indicated in due course and all the growth drilling since February will be included in the inferred upgrade in December - the PFS also shows the mind bending exploration upside associated at Havieron with every direction and depth still open at pretty much every target area.
I'm liking the new NW Pod (previously the NW closure) and that is still open to the NW - heading towards Lake Havieron. This is the first staging point on a long journey - but a very very important one.
Let's see what Sandeep has to say. ATB Paddy
So looking forward to the release of the PFS tonight and the inevitable slew of data that will be produced by NCM to support it, but remember it's only another staging post on the road to production. Shaun has been at pains to remind investors that the PFS will only contain drilling up to March this year and that was the infill drilling to enable the inferred MRE to be upgraded to indicated.
None of the "growth drilling" that we have seen so far will be included tonight - there may be incremental improvements in the size and quality of the inferred MRE as the infill drilling was successful in proving the continuity of grades in the breccias surrounding the sulphides was good.
The major changes in the MRE will come with the inferred JORC update in December as advised by Shaun in an earlier interview - the good thing about tonight will be that for once and for all any doubt that Havieron will ultimately become a mine will be well and truly dispelled and it "MAY" give the green light for certain instos to take the plunge.
Even then the inferred upgrade in December will be miles behind the curve too - especially if those comments from Dr Brett Davis last week are anything to go by.
""The Havieron deposit in north Western Australia is a beautiful deposit with amazing world-class textures. This is a relatively new discovery and much of the geological detail hasn't reached the public yet, but when it does, people will be seriously impressed."
I'm thinking that Havieron will be seriously impressing people for many, many years to come. Good Luck for tonight / tomorrow people - although I don't believe we will need it.
I think you'll find it's 70% of it will be in NCM's hands - if they want the optional 5% they will need to purchase it at FMV (fair market value) assessed by an independent qualified assessor.
If NCM decline the 5% then Shaun will have banks lining up to offer him the measly pittance required to fund our share of the quick start mine that will be outlined in the PFS on Monday night.
GLA - Paddy