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If I am reading the RNS correctly GGP are now starting, or preparaing, to use the Wyloo loan facility. This was set up when the SP was a lot higher. It was set up before the Newmount takeover bid. I do not know the full ins and outs of the loan agreement. I would not be surprised if Wyloo have some clasue they could use t walk away from the deal. SP falls more than a certain percentage etc. So I feel it is good news and a positive for Havieron.

Wow, so much love.

GGP Is not as great as you think it is. Lots of people are underwater, Lots may be thinking of investing, Anyone thinking investing they should realise all GGP currently have is Havieron and that is not guranteed to go ahead. I think it will go ahead. I hope they find other deposits.

For me GGP as a bad investment. If I can get my money back I will be happy.

Havieron is so close to development that it will go ahead. I would be shocked if it did not. That is my only positive.

I would like to see an increase in the decline. The decline has always been slower than we all expected. I will put that down to over enthusiasm on our part. They have leases that cover some large areas, with their knowledge and expertise and modern technology I am hoping they can find something quick.

Gerry, that was a bit of Grand Standing by Shaun. Newcrest would see that as beneath them. Shaun is playing games just as much as Newcrest are. They walked away from the %5 and Sandeep was fired, that tells you everything. It is a lot of gold but will it, now, give Newmount the return on investment they expect, The fact it is something the can sell on makes my investment a bit safer.

Timber, I do mention Decka, fingers crossed. I think RIO have thrown their hand in, in my opinion. They have let us take over their leases. If we do find anything we have to give them %30. Flyn in Tasmania we get %1 if they find anything. As for the RC drilling it is one of the reasons we need to restrict to shallower deposits. RC drilling is cheap and fast. I am hoping they find something. Was it Apollo that they hit at 900 meters. A total waste of time if you ask me. Look at Haverion and the amount of drills needed to get the MRE. Imagine doing the same from 900 meters. It would cost a fortune.

Unimaginative. I want at the very least my money back on this investment, Everything that makes Newcrest/Newmount complete the decline and start mining helps.

MH01 Big companies are very political. They will follow their processes until they stop working. Newmount may realize that tier one mines will be harder to find. Newcrest walked out on the 5% that tells us they are following their own tried and tested methods. It is all my opinion. It is why I not a big fan of drilling deep targets. Find as many shallow targets as you can. GGP should be searching for low hanging fruit. I do not know if they have any.

Spade, Did they not follow the gold down from the top. Without Sandeep in my opinion Newcrest would have done the MRE upfront. Realized it was not going to return there expected ratio. $60 million dollars upfront cost for MRE. They would have sold it or passed it on with a percentage of future revenue to a smaller player. Sandeep had to fall on his sword. The smaller player may have done a smaller decline, vertical tunnel. Now the tunnel is dug we have a different game. That is why I believe 400 meters is the limit because Newcrest walked away.

SpadesaSpafde We are talking about digging the tunnel. When did we start and when will the ore be extracted? 3/4 years. and a $400 million dollar investment. Newcrest, Newmount are looking to make 10x, 15x return for each dollar invested. Wyloo would take 8x every dollar they invest. They would never have started the decline. These are guesses so do not hang me but this is how these companies scale. Higher up the food chain they want a bigger rate of return. My guess is Havieron is not giving Newcrest the return they expected. Newmount it may be different as they could see the initial investment as something in the past and so they may look at its current rate of return. If the decline reaches the ore body then someone like Wyloo expecting a lower rate of retunr would be more than happy to take it over. The closer the ore body the lower the risk for shareholders.

Thank Sandeep for that. He started digging before all the drilling results were completed. If they had waited I doubt they would have gone ahead. IMHO. The current Newcrest board see Havieron as a waste of money, that's why the fired Sandeep. Now they have spent the money and are near the ore body all that will be history. It is why RIO have the left the region. Let us waste money drilling for gold. I do hope we find gold because I am invested. That's why 400 meters is my limit for drilling. Every 100 meters is a year digging. One of are targets is 900 meters deep. That's nearly a decade of digging before you see a penny. Never mind all the drilling needed to firm up the MRE at that depth. Well over a billion dollars needed if we hit serious gold at that target. Better places to spend your money.

I final sentence: Any target over 400 meters deep is a waste of money drilling or exploring.

I have not. We have plans by the company then we have individuals suggesting if all things go well we could be reaching the ore body by Christmas. I would love to reach the ore body by Christmas. To reach it we should be seeing increases in digging. Shaun hopefully will give us an update. Decline is less than 2000 meters then reaching the ore body by Christmas is extremely unlikely. You can never say never but for me it is unlikely. Last update was over 1900 meters. More than 10 days since then. I want to see the results for Deca. Only 200m deep makes it a good target. ANything over 400 meters is a waste of money,

700 meters to dig to reach the ore body by Christmas. Sept, Oct, November and December that is 120 days. Approx 5.8 meters a day. So far the digging has been slow. So I will not get my hopes up. When Shaun arrives he may give us a decline update. I would expect it to be over 2000 meters in length to reach the ore body by Christmas. Less expect Feb next year. All this over enthusiastic stuff needs to stop.

if ***** find gold then it is a bad deal. if ***** do not find gold then shaun did the right thing. havieron is 2024 for production . tells me that every 100 meters of depth is a year of digging. 900m is a decade. wasting time and money drilling that deep. i guess this is the reason rio are leaving patterson. i would set a depth of 400 meters. no exploration for anything deeper than that. we are lucky that sandeep took the bait i think most would have walked. we are not far away and have a large resource so i doubt they will pull the plug now. unless they hit other issues with the decline.

To me Tasmania though small was very shallow it would be a cheap and quick exercise to check it out. Both prospects are in the middle of a gold mining region so both have very good potential. A 500k/oz find split with a local miner would give us a good little income. Instead we hand it over to Flyn for a few K with 1% smelting fee. Now we take over the Rio prospects. Most deep, if not very deep. Decka is shallow, 200m, so I am praying. We also give RIO 30%. Shaun did say he wanted big finds. For me you should always take the low hanging fruit first. I do not see the Tasmania deal as good business. Especially when we give Rio 30%

Rudal, they drilled 900 meters and hit gold. Very good gold results. Rudal is to deep so it will add very little to the SP. Scallywag the results were disappointing, South Paterson is shallow so a hit here will literally blow the doors off.

The longer it takes the better. No one will shutdown a mine producing gold.

So my estimate is fits in with GGP, 30 meters a day for 2 weeks is approx 420 meters depth. Use an 8 hour shift. Time spent logging samples and other activities, paper work, site chores. Then 2 weeks is not a bad estimate.

Stingray target are shallow, 200 meters. RC drilling could reach the target in a day. A couple of weeks seems more than enough.