Member Info for schlemiel

Berg's asleep

https://oilprice.com/Energy/Energy-General/How-Markets-And-The-Media-Overhyped-Coronavirus.html

I thought GGP had been awarded block listing status which I thought allowed the issuance of shares to the warrant holder without the continual (onerous) issuing of RNSs. Eventually an RNS is issued that confirms the cumulative issuance of shares in as a block. I could be wrong

PG - Oh, I didn't see you'd already posted it. Half asleep. Apologies

Resources reporter
Mar 2, 2020 — 12.00am

'Newcrest has struck a partnership with Greatland Gold over Havieron, and has described the asset as one of its two most important exploration priorities globally '....

rest is paid for

https://www.afr.com/companies/mining/rio-tinto-zeroes-in-on-lithium-but-next-mine-may-be-copper-20200226-p544q1

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that's a statement of intent if ever I saw one

https://stockhead.com.au/resources/explainer-why-are-so-many-explorers-chasing-a-porphyry-payday/

https://ausimm.eventsair.com/AUSIMMEventInfoPortal/underground-operators-conference-2020/program

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Some very interesting presentations. I suspect Havieron will at some point get a mention as there are lots of Newcrest people there

I wouldn't focus too much on the quantity of ounces but on the economic quality of the actual project to be mined. The real commercial value of a gold project is surely a high grade discovery that allows minimal capex and maximum margin from each ounce mined and sold. 'HIGH GRADE' is the term that is indelibly imprinted on my mind each time my commitment is questioned by the vicissitudes of the wider market. High grade discoveries are the discoveries that the majors are looking for and the ones that attract the best prices. We have one HG discovery, a proper one! Don't be a muppet and sell GGP.

'After meeting the milestones, Newcrest has the option to acquire an additional 5% interest at fair market value taking Newcrest's interest in the Farm-in to 75%.'

this is pivotal clause to in the agreement. How is market value (MV) (5%) determined? And does this value (5%) dictate the value of the remaining 25%?

Is the MV based on a MRE or a PEA? Or is it based on the PFS?

Use Sandstorm's takeover of Mariana (Turkey, higher risk)) as a comparative fro GGP (Australia, lower risk). Plus, no capex of processing as Telfer already in situ. Plus other assets as well -

Mariana Resources PLC (LON:MARL, CVE:MARL), the Turkey-focused mining exploration specialist, has agreed to be taken over in a deal that values the business at almost £167mln, representing an 84% premium on last night’s valuation.

Canada-listed Sandstorm Gold, which already owns 7% of the AIM-listed company, is offering its own paper as well as 28.75p per share in cash.

This values Mariana stock, which closed at 59.01p on Wednesday, at 109.71p, and the company at £166.85mln.

The company’s major asset is a 30% stake in the Hot Maden copper-gold project in Turkey.

One of the highest grade deposits in the world today, it is host to 3.45mln gold equivalent ounces.

In January the company revealed the findings of a preliminary economic assessment of Hot Maden, which estimated its net present value to be US$1.37bn.

The projected cash flows from a mine are so strong the payback on the investment would be just over two years.

Upfront costs were estimated at US$169mln, which rises to US$261mln over the mine’s life.

“The combination with a company such as Sandstorm not only de-risks Mariana's exposure as a single development-production asset company but provides a stronger diverse platform and ability to finance the development of the 30% owned high grade gold-copper discovery at Hot Maden in Turkey,” said Horsburgh.

The shares shot up 47% to 87.15p.

City broker RFC Ambrian said: "The pace of development at the Hot Maden project....has generated substantial returns for Mariana’s investors and more milestones remain.

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Mariana coincidentally also owned 30% of the most valuable asset in their portfolio

I bet Havieron's metal riches will continue to grow over time, even after mining has started. It won't be a static entity but a discovery that will surprise over time. GGP won't be around when that happens

PG

https://link.springer.com/article/10.1007/s00126-019-00951-y

David Groves

3-Jan-2020
In terms of gold exploration, and with particular reference to Western Australia, Vearncombe and Phillips argue that brownfield exploration has been more successful than previously acknowledged. Importantly, many mines that started life as Tier 2 or Tier 3 (?6 Moz). There is no crisis related to underperformance of greenfield exploration as brownfield success has maintained gold production in Australia. Importantly, greenfield exploration does not need to locate Tier 1 deposits, as this can and does happen after mining has commenced.

Hronsky emphasizes the importance of fluid focusing and presents an interpretation of deposit-scale controls on orogenic gold deposits, with particular emphasis on the Telfer deposit (Western Australia) and its component ore shoots, introducing several novel concepts in the discussion. He proposes that the rheological architecture of the host rock mass is an important predictive input for exploration targeting.

''Our view: unlike ‘big blob’ porphyries, locally / structurally controlled gold such as at Telfer makes any bulk-mass calculation moot. What is apparent is that there is clearly multi-million ounce potential. Similarly an 80m radius cylinder clearly over-simplifies the geometry, yet at the same time could grossly underestimate the lateral extent of the ore as well, for potential >10Moz ''

http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1e3s6n2-190114%20GGP%20SCP.pdf

Sprott - Equity Research

'Our drill core observations provide compelling evidence that Greatland’s Havieron discovery is a rare geologic analogue to the 27Moz Telfer deposit, thus far the only true member of the Telfer-style class. Diagnostic similarities include the high Au:Cu ratios, silica over-saturation, high-grade veins and low-grade breccias, alteration mineralogy and structural setting, and not least that Telfer sits in the same basin, 45km away. Though a speculative exploration play under 400m of cover, with only a few hits and key assays still pending, we think this project offers rare exposure to a potential world-class discovery, as highlighted by the recent intercept of 157m @ 6.0g/t, 0.44% Cu.Other than size, the key implication of a Telfer analogy is better depth potential than in younger epithermal system'

The Gothenburg-based outfit has been working on automotive applications since about 2015. With Smart Eye systems deployed to about a half-dozen BMW models, and contracts secured with 10 other major global automakers, the company is well-positioned in the driver-detection space. Australia’s Seeing Machines is also a leading provider. “This is the next big thing when it comes to safety,” said Peter Rundberg, a technical expert at Smart Eye. “It’s going to be as big as airbags and safety belts.”

https://www.sae.org/news/2020/02/smart-eye-safety-driver-monitoring

I wonder if Newcrest sell their SOLG stake and focus their efforts on Havieron. I don't see how now being involved at Cascabel provides Newcrest with any value at all. It's interesting that during presentations there's never any reference SOLG though they do have a hefty set of exploration licences so NCM may be biding their time with SOLG to see what transpires. Mather I am sure is currently working on SOLG initial resource estimate

increases the value and importance of higher grade gold-copper discoveries and reserves. On that basis alone Havieron's HG discovery is even more important to the Telfer processing facility that's just about surviving on the low grade crap they've been feeding into it. It will improve costs and margins in a volatile gold price environment

what a mess. I've still got a position here. Why? Fcuk knows. It's cost me. Ah well