Havieron - Huge?3 Aug 2020 15:38
We know that Newcrests' forthcoming MRE will be based on the same tried and tested principles they have always followed so it may seem sensible to try and compare the Newcrest 2003 Feasibility Study for the Telfer MRE (produced October 2002) with the current Havieron situation.
The MRE for Telfer stated annually 800,000 ounces of gold and 30,000 tonnes of copper concentrates for many years (Potential mine life 20yrs?) broken down into Surface RC drilling (115500Mtrs), Deeps(underground Diamond drilling(9500Mtrs) and Underground RC drilling(1900Mtrs) and then further broken down into areas eg,Main dome, quartz reef, etc of Telfer.
Average grades for Gold was 1.6gt/au and copper 0.2%cu at the time.
The conclusion taken by the Board was to expand Telfer by many years and build a new processing plant.
(Please note that figures produced above are accurate as per the reports they were taken from but should be considered as a guide only for possible comparison purposes).
We can assume that the forthcoming MRE for Havieron will be in similar format and as detailed.
IE, An overall MRE Quantity total figure for Gold at Grade X, Copper at Grade Y with further breakdowns, say 1, Surface RC drilling, 2,Crescent Deeps diamond drilling, 3,Breccia Zones, Deeps diamond drilling and 4, Infill RC drilling for 2 and 3.
We can then ask the following questions,
1, How much more drilling (Mtrs) have Newcrest done at Havieron compared to Telfer? and over how much expanded horizontal/depth areas?
2, How much has the total MRE figure increased by? and for what future period of years?
3, By how much have reported grades increased for both Gold and Copper (surface and deep) and in particular for the Breccia zones?
4, Any other questions I may have forgotten.
I do not have answers to these questions, or at least lack of time currently excludes me from trying to produce them, but I do know that all 3 areas have been subject to some excellent posts/forecasts on this board, with many proven, over the development of Havieron.
Together, along with the salivations of GH, SB and many others I expect the final destination to be close to or at the Mega situation level.
Hang on to your shares.
With the Annual Results due soon we should get an indication of the way forward for Newcrest (and of course GGP) and the Board decisions that will be required in early 2021.
GGP may be in an extra strong position negotiations wise if Scallywag results further arouse the interest of Newcrest also.