Member Info for Redtrader

I think Stingray is a good area to investigate as it is shallow. Rudall is far to deep for now. I think RIo left as they have lots of licences around the world which they feel have better potential. This is a good opportunity to make an amazing discovery. A find at these depths would launch GGP into orbit.

I will leave conspiracy theories to others. This means the result at 420m could double the volume of gold in the top section. I am guessing they will do sampling closer to the ore body. Are the any other samples through this area. It may be a section that has broken away from the main body over time.

If this area has little to no drilling and they have found a strike like this that potentially increases the volume massively. They will need to define this section so I am guessing this will be done from below. Why they did not do it as part of the drill campaign is very strange.

Bamps,

About Havieron, According to Hydrogen some research you have done places a drill result at 420m and in an area with very little drilling. If correct this expands the top area dramatically of Havieron. I think everyine would be interested in this result.

As for Stingray, I hope we find something decent. One of the sites has never been drilled.

The time scale to start production at Havieron is 3 years. The ore body is roughly 400 mtrs under cover. The cost for the decline is $360. With inflation we can say $400. A rough guide for for mining costs and time scales is:

For every meter of depth costs $1 million. Every 100 meter of depth will take 8 months. Havieron is on the edge in IMO. Rudall is 700m below the surface. Using my rough estimates this means it will cost $700 and take 4.5 years to reach the ore body. The Rio Tinto leases the ore bodies are 200 meters below the surface. Giving a cost of $200 million and time scale of 1.4 years.

My opinion I think Tasmania might be small but was an ideal opportunity for GGP. It was shallow, in a large gold mining area with a historic history of gold. Firming up the MRE with cheap drilling campaign could see GGP getting 20/20/40% with a local miner. It may only ear a few million a year but that would fund GGP wage bill and exploration costs. Shaun said he preferred tier 1 projects. A bird in the hand comes to mind.

MO,

Newcrest may have a different view on what to look for. They may have decided that GGP are looking for the next Havieron. They see Havieron as a tad in the deep side. They maybe wanting shallower, even open pit resources. Maybe small resources that could be additional feed for Telfer. If you are in the area then you might as well see what else you can throw in.

This is environmental approval. It will tell us how much ore they expect to mine, as you state. This is not approval by Newmount to mine. Even so it is still a good omen. If Newmount do pull out the mining can still continue with us and whoever takes over Newmounts interest. I am guessing Wyloo.

Not sure how all this works. Newcrest have submitted an EPA for the mine. This is one of the reguulatraity hurdles needed to start the mine. Yet they say nothing about it in their quaterly reports. They big up Cadia etc. Nowt for Havieron. The money, time and effort they are throwing at Havieron indicates the decison is made.

At the moment in time we having a 30% share in nothing. Havieron is valued at over a billion pounds. Newcrest with all its mines in production is valued about £14 billion pounds. When it is producing something it will of course go up in price.

The best time for us for Newcrest/Newmount to walk away is when we have reached the ore body. Every meter closer makes our hand stronger.

I do not have a clue what is happening at Newcrest. Looking at the replies , neither does anyone else here. Not buying the 5% was a given until Newcrest said no. That was the biggest clue that Newcrest was not seeing Havieron as we see it. Not longer after that Sandeep was gone. I think they are to far along the decline to walk away. To much money invested. The delay with committing to the full mining should tell us something. I do think Havieron will become a mine. It will happen because Sandeep bullied Newcrest to start digging and wait for the results later. That is my opinion. What Newcrest are thinking we will have to wait.

It seems that Havieron is not what Newcrest want. Sandeep went ahead with the decline putting a lot of money into this project. If he had waited for the the full drilling results he might still be CEO. His bravery is a god send for GGP. Without the decline the guys in charge of Newcrest would have called it quits. I am guessing that Newcrest will try and sell Havieron as a going concern. I very much doubt they would sell to GGP. Selling to Wyloo makes sense. I am guessing that Newmount will sell. I think Havieron is to deep. Unless serious amounts is found at depth then it will be a 300-500 k ozs a year mine. Not what these guys want.

I agree, I find it hard to believe they would just walk away with all the costs involved. No one here knows what is going on with Newcrest. Lots on here feel Newcrest are not as positive as they were. If Newcrest are looking to leave the Patterson region then it makes sense for them to do that as cheaply as possible. Selling Havieron to another party makes financial sense. For us, the closer the ore body we are increases GGP hand in these negotiations. The best hand we will have is when trucks are leaving the decline will ore in the back. The longer they take to make that decision the better for us.

If NCM walk away it will be a mess until a solution is found. How big a mess depends on lots of stuff. If they walk away from Havieron on the verge of production I doubt they care much about Rudall, Pascale or Peal. The best scenario for us is they go ahead. Next best scenario is that we have reached the ore body when they walk away. For Newcrest going ahead with the SLOS mining so they have something to sell makes the most financial sense.

Divide the price Newmount are willing to pay for Newcrest, $29 billion aus dollars by 2 Mozs annual production. Convert to pounds. Gives us roughly £7500 an ounce. Multiply this by 450kozs. Then by 0.3 for our share.
GGP share of Havieron is a tad over a billion pounds when in production. The other tenements price depend if we find anything. These tenements are worth a few million. That is the price we sold a couple of tenements to ***** for. Might be a 100 Mozs at Havieron. The price will be set by how much can be extracted annually.

How will this country pay for all the pensioners, the new houses, the new schools, new roads for a growing population. Were will all the new jobs for the new citizens. 40 years ago every industrial estate was packed with manufacturing companies. Now we have Pound lands, B&Ms, Home and Bargain, Aldi, Lidl. Throw the vast warehouse for Amazon, ASOS. All buying stuff from China and the far east. A country that lives on debt. Add the rest of Europe, France, Germany, Spain, Italy, Portugal. All printing money with the most productive demographic in each of those countries retiring on mass. Never mind next year we will have a Labour government. I see no reason voting. Now tell me why you think this country will have low inflation?

If we believe that inflation will rise. Looking at what our betters are doing in the west. Over 10 years gold could double, it could be worth $4000 an oz. It means that greatland have got their mine built in a low inflationary period and with low interest rates. A billion debt will half in value over 10 years. 300,000 oz a year production will be $1.2 billion. If gold quadruples it will mean $2.4 billion. If production reaches 450 koz and gold is 8k. GGP share will be $1 billion. The only solution the west has to it problems is money printing. It is a good place to protect your wealth from inflation.

That means from November to now we have done 200m. Lets say a 100 days. That is 2m a day? That means 2nd of 2024 early 2025. That is if we do not stop to do a bit more widening and other infrastructure stuff.

Bit of advice for posters. If you know the answer or wish to add to the debate then please post. If you have nothing to add and/or do not know the answer then simply move on.