Member Info for Redtrader

Shaun day says it is 1520m with 300m of passing bays and ventilation shafts. Not much since November. Current rate, it could be 5 years before we reach the ore body. At least we are 10% ahead of schedule.

You do not know either. Maybe you should E-mail him.

Exactly how far along the decline are we? 1520m? The tunnel is wider and the ventilation shafts are deeper. All I want is the length. If they have to stop to build ventilation shafts and widen the tunnel in places, so be it. Adding how wide it is to the length is nonsense.The decline was 1500m in November. Or was it? In January Newcrest said 1800m. Now GGP are saying 1520m. Can anyone tell me how long the tunnel is?

Droverman, unless Telfer has gold or a way of earning money, smelting other miners gold for example. A buyer would be looking for a payment. The government will want proof that any new buyer has the finance and skills to decommission the mine when needed. If Newcrest are bowing out of Patterson then getting out as cheap as possible makes sense. Only a few companies will be big enough to buy Telfer and give the guarantees a government would require. It is a good opportunity for an up coming miner like Wyloo. Unlike Newcrest they are not to grand to own Tier 2 mines.

TOME, I think I was polite unlike yourself. Only plank here is you Tom.

TomE It will be closed down but that could be a long time in the future, read my post. It is near the end of its life so close to being decommissioned. Winu, Havieron may extend it. Who ever buys it will will have to take on the responsibility of closing it down or selling it on to someone else. Who in turn takes on that responsibility of closing it down. Someone will have to close it down. For now the issue is how much would someone pay for Telfer. Grinding machines, evaporation ponds plus the lots of restoration work needed to be done. I can see the potential for a good deal.

Thanks 2wheels, Anyone else hear this or is this recorded?

Because lost of people have money invested. The MRE will come out. What did Shuan say about the MRE last night.

This is stated by Wheelman: next MR update, mentioning figures even as small as a 1m oz upgrade. Anyone have more info on the possible next MRE size.

No one is saying close Telfer down. If Newcrest want to sell Telfer then whoever buys it will have to decommission it eventually. That includes all the environmental damage done over the decades by Newcrest. This is a very larger bill meaning a straight sale of Telfer would probably involve Newcrest paying the new owner money to take it.

I agree Sand. Not sure how much gold is at Telfer. Not much left then Telfer on its own I would want a large sum from Newcrest. A 70% share of Havieron could swing it.

You have no idea what you are talking about ace. Once you take responsibility for closing a mine you have now moved into another world. That world include the world of politics, What could happen in 10 years time? See how much the world has changed in the last 10 years.

That is small increase, putting the initial MRE for the mine at 7 moz. See why Sandeep got the chop.

If Newcrest sell Telfer they would want the responsibility for closing it moved to the new owner. It does give a big opportunity for a buyer to get Telfer and a lump of money. orTelfer and 70% of Havieron for a £1. They would also want proof you can close it down. Last thing they will want is the company closing it down going bankrupt. Then Newcrest have to do it.

This is the stuff we need Timber.
Are they still drilling at Havieron?

You could buy the plant for a penny and a new Aus government could pass a law the very next day saying you have to restore the site to how it was before you started digging,. Yuu have to pay for a 1000 shamens to bless the site before it can be closed. How long is a piece of string. Whatever the price they say quadruple it. When owned by Newcrest it was their problem.

Everyonesawinner

How obvious does it have to be.

It could cost 500m to close Telfer. Who knows? I would quadruple any estimate.

We are at 1800m and according to Shaun we are ahead of plan. If no playing around by adding the width to the length this is 1800m length. The increase in length was around 10m a day. Newcrests next results are 27th April. About 50 days between the last update and their results. The decline could be 2400m.

Newcrest are cooling on Havieron. If Newmount take over they may have a different view. Reading between the lines it seems that Newcrest do not think Havieron is big enogh, not tier 1 status. I am certain that Shaun will have a very good idea what Newcrests issues are. It would be nice if he could explain what he feels they are. Reading some of the posts Shaun mentions that the MRE will be massive. Did he actually use that word?