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The big guys have big overheads. They want big mines with big resources. That needs lots of money. Havieron may not give Newmont the ROI they want. Wyloo see Havieron differently. It explains why Wyloo are on board.

Never going to happen

Newmont will probably have to pay to offload Telfer. The only thing that can supply Telfer long term is Havieron.

The only thing I can see that Newmount have in the Pilbara region of any value is Havieron. Unless I am missing something.

Does anyone else supply ore to Telfer? The gold mined at Telfer is just about economical. Why would anyone buy it knowing they would have to pay closing down fees?

To get the best price Newmont will need something that can keep Telfer open, otherwise it is a big closing down fee. Telfer is running on vapours. I do not see any other mines that supply Telfer. Getting closer to opening Havieron or having it open maybe the best option for Newmont. Anyone coming in to buy Newmonts share of Havieron other than Wyloo is not something I see. GGP going it alone is not an option. Newmont will want someone big enough so the regulator is happy they have the financial clout to close Telfer down in the future. GGP financially are not at this point. Wyloo may have that financial clout. It means that the buyers for Havieron are limited. For a Wyloo they get 70% share of a Tier 2 mine for peanuts. I find it hard to believe the mine will not go ahead. Only a few meters from 8 million ounzes of gold.

Secondary modern education for me. Seems talk about 2025 to reach the ore body.

According to Shaun he was really excited about EG. Bit of a damp squid if you ask me. Another contributor to this forum that is a lot more knowledgeable than me suggests that many of the potential sites will be small, million ounce etc. If we do find them. Similar in size to other sites in the region. Shaun rejects Tasmania as it is to small, looking for Tier 1 mines?

Tasmania sites were both gold mines. Both have great potential. Both sold for a pittance. We on the other hand have RIO tenements. Here were pay for exploration giving RIO 30%. Flinn pay for exploration but pay 1%. Not seeing a great wheeler dealer to be honest.

@Bamps,

I remember you bigging these up. Even if what you say is true a firmed up MRE would get is a lot more from Flinn.

Not calling me a bully?

The Tasmanian ones always seemed a cert. May not be big but with a decent MRE you could get enough to fund Havieron.

Unbelievable.

Of course there is gold, it was a gold mine, It was sited at the surface and easily accessible. A few quid here firming up a MRE could have millions for GGP. Enough to fund Havieron. Nope, sell it for peanuts. Madness,

Difference between reserve and resource chatgpt:

In the context of mining, the terms "reserve" and "resource" have specific meanings and are used to describe the amount and quality of material (such as minerals, coal, or oil) that is present in a particular area. Understanding the difference between these two terms is crucial for mining operations, investment decisions, and reporting standards.

Mineral Resource:

Definition: A mineral resource is a concentration or occurrence of material of intrinsic economic interest in or on the Earth's crust in such form, quality, and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, geological characteristics, and continuity of a mineral resource are known, estimated, or interpreted from specific geological evidence and knowledge.

Categories: Mineral resources are subdivided, in order of increasing geological confidence, into Inferred, Indicated, and Measured categories.

Economic Viability: Not all resources are economically viable for extraction. The determination of resource status depends on geological and technical factors but does not fully consider economic feasibility.

Mineral Reserve:

Definition: A mineral reserve is the economically mineable part of a Measured or Indicated mineral resource. It includes diluting materials and allowances for losses that may occur when the material is mined or extracted.

Determination: Reserves are determined after more detailed geological and engineering studies have been carried out. These studies include considerations of mining, processing, metallurgical, economic, marketing, legal, environmental, social, and governmental factors.

Economic Viability: Reserves are defined only after it has been determined that economic extraction is viable. This means that the extraction process is not only technically feasible but also legally and economically feasible under current market conditions.

In summary, while a mineral resource is a broader term that includes all potentially valuable materials in a given area, a mineral reserve is a subset of this, representing the portion that can be economically and legally extracted at the time of determination. The classification of a mineral deposit as a resource or reserve depends on a combination of geological, technical, and economic factors.

2025 before we reach the ore body. If we hit another speed bump it could be 2026.

SAS, Aquifers can be vast. The fact they are trying evaporation suggests this is not some vast underground river system or lake. It is a hurdle that needs clearing before we can carry on.

So it is clear the image of the three ponds.

Pond 1, is a turquoise blue.

Pond 2, is white, we can assume is nearly evaporated. This is the smallest pond.

Pond 3, is navy blue color. It is also the largest pound.

The implication is that the 2 shallower aquifers have been drained to a level that GGP are happy with,

Not quite understanding this. They fill the pond. They then let it evaporate away. If the aquifer is not empty we repeat? . From a evaporation point of view cycling the water through a black tube and into the pond to speed up evaporation. The rate extracted from the aquifer is set by the daily evaporation rate. I am not getting this logic.

@Bamps

Does GGP know how big the aquifer is? How fast it is being filled? The fact they are attempting to drain implies they think it is possible to be drained? Has Shaun said how big it is?

Every trade is a buy and a sell. The red and blue you see is the computer program using the bid/ask price to determine if it should show the colour in blue or red. Blue indicating that people are buying into the company. Red indicating people are selling. If people bid a price of 10p and the final price 11p it will be shown blue, suggesting a buy,

If the bid price is 10p and the final price is 9p it will be shown red, suggesting sell. When lots of demand for a share overall you should see more blue transactions. When shares are being dumped you should see lots of red transactions. Ignore the colour.

@Bamps you know I want GGP to find stuff. For me Tasmania was not about finding gold but finding how much gold we had. You also know that. This was the seed money to help fund GGP.