First pour.31 Aug 2022 08:15
Just like us, the partners want first pour ASAP.
NCM want this to succeed. They want GGP to succeed. 30% of the mine gives SD a fantastic platform to spring from.
NCM have invested so much into this project. They of course have other projects to fund and also like to make sure the share holders are well rewarded from their projects. Monies raised by GGP can now go towards production. No need to repay the loan to NCM from thees monies as would have been the case if NCM had of taken up the offer for the extra 5%.
SD has the means on a silver platter to full fill the GGP 30% !!! mmm
Havieron Project
The Havieron Project is located 45km east of Newcrest’s Telfer operation and is operated by Newcrest under a Joint
Venture Agreement (JVA) with Greatland Gold plc (Greatland).
A Group Mineral Resources and Ore Reserves statement as at 30 June 2022 was released today which includes an
updated Mineral Resource estimate for Havieron, adding 1.9 million ounces of gold and 0.05 million tonnes of
copper24 (see the separately released “Annual Mineral Resources and Ore Reserves Statement – as at 30 June
2022” dated 19 August 2022).
The extensive drilling program at Havieron continued during the period with up to seven drill rigs in operation. The
growth drilling program continues to identify and expand high grade extensions to the mineralisation in the Eastern
Breccia, South East Crescent Zone and Northern Breccia.
In October 2021, the Newcrest Board approved the Havieron PFS Stage 1 to the Feasibility Stage. Key contracts for
the Feasibility Study were awarded during the period and works to progress the necessary approvals and permits
required to commence the development of an operating underground mine and associated infrastructure are ongoing.
Newcrest is reviewing the impact of inflationary pressures on future capital expenditure and operating costs as part
of the Feasibility Study.
The development of the exploration decline experienced poor ground conditions during FY22, impacted by
unfavourable geotechnical and hydrogeological conditions. Changes in the design of the decline have been made
which has allowed development advance rates to accelerate towards the end of the financial year, with a steady
improvement expected to continue in FY23. The schedule for first ore is currently under review and will be updated
with the release of the Feasibility Study, which is expected to be completed during the December 2022 quarter8
.