Member Info for sandgrounded

I thought. Ewcrest we’re doing an updated mineral resource figure up to 30th June. It appears this update is up to December.

Come on Shaun’s team. Lets see another updated MRE from you please.

Can NCM change their mind before the end of August. I don’t think so, listening to Shaun.

Newcrest Mining

Newcrest Mining meet its full year gold output target but fell short on copper.

The company delivered June quarter gold production of 637,000 ounces and copper production of 39,000 tonnes, resulting in FY22 gold production of 1.9m ounces down on FY21's 2.1m ounces but within the guidance range.

Due to lower mill throughput at Red Chris and Telfer, copper production was 3% lower than FY22 guidance at 121,000 tonnes.

FY22 all-in sustaining cost (AISC) of $1044/ounce delivered an AISC margin of 41% or $732/ounce.

CEO Sandeep Biswas noted lower group costs during what was a challenging inflationary environment.

“Over the last four quarters we have steadily increased our gold and copper production, driving lower group All-In Sustaining Costs and delivering a record-breaking annual cost performance at Cadia.”

Broker outlook

Consensus on Newcrest is Moderate Buy.

Based on Morningstar’s fair value of 27.60 the stock appears to be undervalued.

Based on the seven brokers that cover Newcrest (as reported in FN Arena) the stock is currently trading with 33.9% upside to the target price of $25.64.

Ord Minnett’s average net present value has declined -15% across its commodities coverage following the hit to commodity markets over recent weeks.

As a result, the broker (04/07/22) has downgraded Newcrest to Hold from Buy and the target price decreases to $23.00 from $29.00.

While Citi likes Newcrest’s strong balance sheet, the broker will remain Neutral-rated until evidence that FY23 expectations are reset and until operations at Lihir improve.

Target price is cut to $22 from $29 due to rising cost concerns and as consensus lowers copper price expectations (08/07/22).

UBS notes while stocks [in the sector] are cheap, they do not yet present sufficient value to justify sector-wide buying.

The broker retains a Neutral rating and the target price decreases to $22.40 from $26.20.

Markets open in less than 5 minutes. Will be interesting to see what the sp does.

Antigua, I think you are correct. The indicated doesn’t seem to have moved and the inferred up by a million plus. The total being about 5.5 million in total. The copper seems to be low too.

Does anyone have any links to gauge the markets reactions to tonight’s results?
Anyone on Hot copper or other sites?

Antigua, I had the same problem. To me, it looks like they have increased the inferred amount by a small amount and doesn’t seem to be greater than Shaun’s MRE2. That is why I hope he and his team put out a new MRE using drill data up to the 30th June.

Unlikely, but NCM may have taken Shaun up on his offer to buy back the 5%. We will await Shaun’s Rns and subsequent podcasts to find out what his plans are.

I hope Shaun and his team put out a new MRE up to 30/6/22

Shaun never wanted to sell the 5%. This is a big positive for GGP.

Once the earn in is done, (either by taking or rejecting the 5%), let us hope that GGP release some great drill info for Scallywag and attract the attention of some other large miners.

Greg, you nay be correct. Looking on the Artemis web page, there is no precedent to show the time between receiving the drill results and an mre.
The upgraded mre I referred to in my earlier post was a Re-examination of data by an independent expert.
So, it could well be a little later than I had forecast. Have a good weekend.

Whilst it’s not a case of just putting numbers in the computer, I would hope that a lot of the work has already been done.

I will check previous rns to see, but something to look forward to whilst awaiting drill results from elsewhere.

Looking forward to the updated resource figure for Carlow Castle, which is due very shortly ( maybe even Monday).

This is taken from ARV’s website and shows the last updated resource……..

Recent structural mapping and evaluation of historical diamond core and trenching through the top of the resource area, led to a significant increase in the confidence levels of the project, and culminated in the new inferred Mineral Resource Estimate (MRE) announced on 20 November 2019, that increased metal content by 60% for gold, 25% for copper and 15% for cobalt.

The inferred MRE is now 418koz Au, 48kt Cu and 7kt Co within 8Mt @ 0.51% Cu, 1.6 g/t Au and 0.08% Co[1].

With the recent drilling results now in, will we see a big increase in the MRE? Fingers crossed.

But it’s not a fact. You are making very big assumptions on one hole.

You give a high value, but don’t take into account the All In Sustainability Costs for the project. There are pre feasibility studies, Feasability studies, application fir a mining licence etc, that’s before costs for extraction, taxes etc.

This could be a big find, but more exploration is needed. It is a good start and should help to increase the sp. Further drilling success at other sites like Apollo, well that’s a different story.

Can’t knock your enthusiasm and I hope you are in for longer than a quick buck. Good luck.

Too much ramping Cela.

Could we see the resource upgrade as early as Monday?

Greg, you beat me to it.
Both have great potential and being a shareholder on both companies, I hope they both make us a lot of money.
Just to add Cela, Newcrest and GGP are targeting a part of Hav where the mineralisation starts at 400 meters in the first instance and the grades are very good indeed.
As a result the money made from that area will pay for all the capex for the later bulk mining in the rest of the system which is increasing with every drill.

Getting back to ARV, I would say Carlow is more of a copper resource, which may attract the likes of Rio or BHP, should it be large enough.

Good luck all holders.

It would appear that we will get the upgraded resource figure soon.

If it is good, it may attract the attention of the big boys. 100 million is two and a half times the current market cap.

The market makers are not showing theirs either lol.