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TimberTrader,

I read the Artemis RNS before Christmas. It had images of their cores, no assays. I am talking about the drills holes in the south west corner with Havieron, near Zipa. Do assays exists for these drills?

Matty, sorry for your loss.
Your dad will appreciate what you have done.

Is this for drilling at Havieron or is it for Zipa, North Havieron. Thought I read somewhere that they had moved from the main mine. Still drilling, still looking for drillers. They could have found nothing. They are spending all this money drilling in case the have missed something.

Need some good news on the progress of the decline.

The SP is insane.

What does is this ESG Bamps? Is this for Havieron? Ernest Giles?

Why buy next month. They can wait a year as no one else can buy the 5%. Leave their money in a bank earning interest then pay on the vary last day. Anyone else would do that.
Unless they are worried potential big finds could happen. If that is the case then buying as early as possible makes sense. If that is the case then GGP should be waiting for the last minute. Make sure every drill hole has been drilled before they commit. That would make sense.
Only reason Newcrest are going early is if they think it is big. GGP saying yes means they must be happy with the price.

A bit of game theory.

I do not think the main funds will move. The pushing out of the date for reaching the ore body has also had a negative affect. I think these big funds work on quite short time scales. The exploration funds will increase their positions.

I am starting to understand it. If it will only take off when institutions invest big time. From the institutions point of view they well wait for when it seen as a mature company with funds or generating revenue. Investing now means money they could have invested elsewhere. Lots of other investments they can invest in. We are small fry with only small exploration funds and PI's investing in us.

Yes,

Newcrest will pay for how much money the Havieron is worth which depends how much gold, copper and other minerals in the tenement. The MRE is just a small part of the resources at Havieron. Havieron mine itself is easily over 12 million ounces. Newcrest and GGP will each be trying to come up with their own estimate. If they hit gold at Zipa, Mica and North Havieron they could double, triple the resource estimate.

hype,enthusiasm?

Only hindsight tells us which is hype and which is enthusiasm.

The price per ounce we are seeing seems to be based on the price Newcrest, or any other miner, pays for a mine divided by the indicated/inferred resource. This is not what is happening. They are paying for what they believe is the total economically extractable amount of ore minus the cost of extraction.
Do people really believe they will pay $700 an once with an ASIC of $700. Thats $1400 per ounce giving a profit of $400. The amount per ounce is more like $200 an ounce, even less. It is based on how much gold they estmate can be mined.

So how much gold is their in the tenenement area. The indicated/Inferred give us a high level of confidence of the minimum we have. The other drillings show us the potential. We are 1.4Km down and the ore body is still open with volume expanding. Volume is to the power of 3. With 3 tons of ore per cubic meter, a 10m cube is 3000 tons, 20m cube is 24000 tons, 30m cube is 81000 tons.

Add the fact we are seeing simillar geology at Artemis and the activity at Zipa we could have a channel from Artemis to Havieron. That is over 1 km distance . What is found at Zipa, Mica and North havieron will be added to the estmate for the potential amount of gold that can be mined at Havieron. It is the potential amount of gold that Newcrest believe exists that determines the price they will pay. It explains why the plus and minus 10% is needed. A Slight difference in the gr/T between Newcrest and GGP estimates can be a big difference in the final price of the mine. A lot of that will be determined by experience and knowledge of other mines. It pays to have people on your side whose opinion is repected. Shows the importance of having a highly experienced and respected team around Shaun because this is a serious poker game.

If GGP sells 5% @ £500m it means in 12 months:
GGP will have £500 in the bank plus 25% of an asset valued at 10 billion.
Add in all its other tenements.
I can only see one direction.

What information? They are still drilling so they do not have all the information. Current Havieron is worth over 50p a share. If they hit gold at Zipa, Havieron North and Mico it will explode. That means we could get a billion pounds for 5%. Artemis results and the current drilling campaign makes me feel positive.

I have found a couple of images. First is a 2D survey
https://artemisresources.com.au/wp-content/uploads/2020/10/image002.png
The second image is a fault line map
https://greatlandgold.com/wp-content/uploads/2017/06/PatMagTen_05-08-20-956x1024.jpg

The fault line map shows a line that flows past Havieron through zipa into the Artemis tenement, east of Apollo. The location seems close to the where Artemis have set up their rigs. This fault seems to curve around Havieron, North breccia, North West breccia.

The rigs at Zipa, Artemis all seem close to this fault line. So much activity, it could be a red herring.

Looking at survey images and fault lines for Havieron I cannot see anything showing a line that travels from Havieron through Zipa, into Artemis and then back into us. The rig positions and all the interest seem to infer something interesting is running in a line from Havieron, through Zipa crossing the bottom left hand corner of Artemis.

Does anyone have any info, map, survey or link for this geology?

Is 5% of Havieron worth a Billion pounds?
lets say 40 million ounces in the Havieron tenement.
£400 pounds an ounce. Upgrade for copper by 20%,

40 milllion x 400 x 1.2 is 19.2 billion pounds total.

Means 5% is 19.2 / 20 = 0.96 billion.

I agree. I also think there are Instos have funds for a wide range of risk. Many Instos already invested in GGP. As the risk decreases and the time scale for mining reduces so the SP should start rising. Any other finds on the way will be interesting,

The PFS followed by the updated MRE all instill confidence that Havieron will be a mine. Every month that passes is a month closer to reaching the ore body. Next year reaching the ore body will not seem that far away.

Institutions should start moving more of the mining funds towards GGP over the next few months.

Watch your tweets Paddy. You can tell something is going on. When we will find out, December, new year?

WelshFalcon.

It is all interesting stuff. Turn over in tenements means a company with money and an exploration background has great potential. Also lose a lot of money having lots of tenements and find no minerals.

Good to understand this so you can see how exploration companies come and go. Good knowledge for any investor.