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So my take on the MRE after listening to the AIM on air interview and taking particular note of the posts from Bamps and the constructive criticism offered (and appreciated). I found the interview with SD very informative and educational. Time well spent.
The infill drilling of 93,00 meters combined with previous drilling takes GGP to 7900 oz per vertical meter gold equivalent over the top 1000 meters vertically. Based on the high grades achieved / assays /GGP / SRK methods/formula taken over the license gives a total of 8.4 moz giving a conversion rate of 86% (The highest that SD has ever known for an Australian mine). We will have to await mining to get some official numbers on the recovery rate, as it says in the RNS there are no guarantees for any mine. Very sorry if I caused confusion the other day by saying the conversion rate of 86% was the recovery rate. It was never my intention to downplay the potential recovery rate. I would think they will squeeze out every last gram so nearer to 100% recovery than 86% IMVHO the way this mine keeps on giving.
I think we will be o.k. ;)
I'm very positive about GGP it was never my intention to be negative. ;)
Still open at depth.
Bring on the FS. Let's get those associated reserves booked.
To short this stock you have either got to be a complete and total pleb or have an enormous agenda.
Merry Christmas.
The asset just became a lot more valuable. We are going to need a bigger set of scales. So very pleased with today's solid positive very informative RNS.
Have a lovely Christmas all.
Massive well done to the GGP team.
We are so fortunate.
The company have made it clear MRE this month. Judging by the SP action this morning, I like to believe the MM are clearing those traders that expected it to arrive first thing. It may arrive any time now, (within permitted release times). But we have all been told it is on the way. So much news due. Would love to see the sp continue to build on its recent recovery. 😛
Well said SpadesAspade. Fantastic progress/speed on the mine to date. We have a great mine crew to have completed so many meters in the this short amount of time (for a Gold/Copper mine. Everything confirmed to be still right out in front overall.
Safety of the crew / asset always paramount. Today confirms the JV will use the safest and best route to the ore body.
So grateful for SD issuing this RNS today as by default / extension it shows the JV partners want this to progress as swiftly and safely as it has done to date, fantastic for it to be confirmed they are still onside. Never doubted it.
All of those lovely fresh ounces of Gold/Copper. mmm..............
The big take away here is that works are to continue and be expanded. Safety first for the workers and protection of this once in a life time mine as always. If they had of called the whole thing off I might better understand some of the postings today. Think some people are after large amounts of ggp stock on the stupid cheap, mmm. We are still going mining, subject to the decision to mine,and they clearly want this.That's all that matters. Very happy with today's RNS.
I would have thought Newmont are very keen and excited to get there hands on fresh ounces of gold and copper. I wouldnt be surprised if they did not acquire more if they thought there might be a chance. Well they are not having ours imo. Unless for an eyewatering amount. Always after fresh new ounces these miners. Not enough to go round. Bet they go at haverion with the same speed and zest as Newcrest. They have got the biggest mine in decades for gold and copper. They will be very pleased to have those new ounces to add to their bottom line imo. As will GGP fo our 30% no doubt.
Initial results could land any time now. But not to long to wait imo.
The trolls have caused plenty of capitulation from share holders. The mm have had a good harvest ready for the re-rate.
Shame about this blog board at the moment. But it is after all the usual classic attack.
A sure sign that big news and a big re-rate are on the way. Same old same old.
Rejoice in the sustained attack it bodes very well, speaking from experience.
Oh :o) so there is no hedge on the Havieron gold and copper then. What ever way it turns out to be guys the upside here must be enormous.
A big thank you to Culpepper and Bamps21 for their valued input this morning. Very meaty.
Plenty of upside hear imo. Only 121k oz of gold hedged over 4 years and none of the copper. As other very experienced posters have noted the Australian gold price is currently around double the $1400 Australian an oz originally forecast Just under $3000 Australian at the moment for the AISC (All in sustainable costs) originally anticipated. Even though this mine genuinely keeps getting bigger so there will be some proportionate added expense the gold and copper production (as yet to be extracted) although soon to be. In record time in fact. They are very keen. They say tier 1. I am seeing plenty of profit but do not have a calculator big enough or the mathematical skill to give a number. A tier 1 mine can be hundreds of thousands of ounces per year.
Some people say they want your shares. I say I don't blame them !!!
So I think I see what you are saying Culpeper the first 121k oz for gold from Havierion this hedge applies to. Well if you are correct that will leave plenty of upside on the gold and all of the copper. That's fantastic !
Hi Culpeper, I would imagine with their current hedge the management would have covered what they perceived production to be from existing mines +/- %. Havieron could well be on top of imo. Maybe the new owners will have their own hedge drawn up for this new mine once production starts up and they have some tangible figures to work with. Thank you for your informative posts with plenty of meat on the bone. You are a good help.
At the havierion mine I should say as it is not on line quite yet. Would they class any future production from Havierion into an existing hedge. The total annual production from New rest. I'm not so sure that the Havierion gold and copper discovery would fall into any such hedge. The production levels could well be outstanding and I don't think that New rest would want to gamble those figures. It may be that you cannot hedge the unknown production anyway for the mine. Can you hedge the unknow and would either side of the contract want to.
Hi there MH01. I would imagine any hedge on forward gold production will not apply to the gold and copper still in the ground and yet to be mined. Looking forward to the first production numbers. Won't be long now.
When you stop to think the AISC all in sustainable costs for havierion are based on just over 1400 Australian per ounce. We are now at nearly double that as I type. Plus the copper. To say there is a profit to had here is an understatement. Production is so close now. Probably ahead of schedule going by the RNS updates. Very exciting.