Member Info for sicilian_kan

Some PIs have already seen the HAD006 cores. Telbap on ADVFN stated after the agm:

"Myself and several other PIs were looking at Callum’s tablet, he was showing us images of had6 cores.

You can clearly see massive mineralisation, and also clearly see copper visually on several of the cores we looked at, we looked at maybe 20% of the drill, but mainly the interesting 20%. He also showed us the “barren” rock which was the first X mts drilled. One I pointed out to Callum and asked what sort of percentage he thought that might look like, around 10% copper.....this was about a 1mtr piece of core in an image of 6 similar length cores.

I will be absolutely gobsmacked if the results are low grade. They will at the very very least have some high grade copper.

I also believe we will see some positions being taken by smaller funds, a lot of “suits” there today."

The HAD005 visible mineralisation was announced by RNS on 1 October 2018. It took until 19 November 2018 to release the assays, i.e. 7 weeks.

The HAD006-HAD009 visible mineralisation was announced by RNS on 4 December 2018. If it takes the same length of time to release the assays by RNS, one can expect news here on HAD006-HAD009 around 22 January 2019.

Could be sooner or later of course. Importantly, the above proves that it is not accurate to state that there have been delays.

One further thing is also for sure, there is not long to wait and the price (to date) is going up in the interim in anticipation.

It really all depends on how good very good is. Too many variables to be precise at this stage.

Thanks Hawkspear and Paddy and agreed

Deas, the reminders are copies of posts of mine from the past few weeks. I had tweaked some of the anachronisms, but missed that one.

There is true value now; and true value in 1 month, 6 months or 2 years time.

Look at Mariana for example, of another high grade mine. High grade is important, of course, because you need to dig out less rubble to get the same amount of gold.

In 2017, Mariana owned just 30% of Hot Maden. It had a resource (only indicated and inferred) of 3.16m oz gold and 183k tonnes of copper. This gave a resource (indicated and inferred) of 3.43 Moz gold equivalent.

In 2018, this was subsequently converted into a reserve (proven and probable) of 2.61m oz gold and 129k tonnes of copper. Average head grade of 11.9 grams per tonne.

Before this, whilst still at the indicated and inferred resource stage in 2017, Mariana (with its 30% Hot Maden interest) was sold.

The sale price was £167m. Mariana had other assets, like Greatland, but also like Greatland it had nothing of real proven value.

100% of Hot Maden was therefore worth of £556m for what appears to be around a 3m reserve.

Note Hot Maden will be open pit and it has very high grades, but to counter this, it is in Turkey where permitting problems, corruption and political difficulties are not uncommon. Also see the below strength of GGP.

What impresses me most about the GGP drill results is the very high grade zones. Remember, for HAD005, they only need to mine just 62.5m of the 275m to extract 81.8% of the gram metres at an incredibly high average of 20.7g/t for those 62.5m.

Just using the highlights from the RNS, only the four key highlighted bands of 11.5m and 7.5m (upper zone) and 5.5m and 38m (lower zone) need to be extracted to get 1,293 of the 1,581 gram metres. That is staggering efficiency for an underground mine. I am interested to see if these figures can be repeated.

Information like this completely justifies the talk about interest from majors and demonstrates why Metal Tiger and others are buying in. They do not appear to have collywobbles, just the odd PI on a BB.

More recently, the news about HAD006 through HAD009 and the massive visual mineralisation (together with that approach being accurate for HAD005 when it came to assays) gives me great confidence that results can be repeated.

I cannot see why the market cap for GGP should not now be around the £150m - £180m mark. It could go a lot higher in due course (see MARL 100% and SOLG valuations for example) depending on scale and I like the battleships analogy posted.

This is equivalent to a share price of 5p-6p. I can understand the share price holding back before the assays are out and think a share price of around 3p to be perfectly justifiable at present. I think today's price to be crazily low.

HAD005 reported 239m of visual mineralisation. When the assays were announced later, they declared 275m at 5.75g/t gold equivalent.

Identifying the visual mineralisation was therefore fairly accurate. This is even more impressive when looking at the matched depths.

- Report of visual mineralisation from 458m to 577m. Gold was later found from 459m to 577m at 3.08g/t and 0.84% copper
- Report of visual mineralisation from 782m to 822m. Gold was later found from 660m to 817m at 6.04g/t and 0.44% copper

Now let's look at today's RNS and compare that to the 239m of visual mineralisation for HAD005:

- HAD006, visual mineralisation reported of 363m, i.e. 50% bigger than the world class HAD005
- HAD007, visual mineralisation reported of 237m, i.e. similar to the world class HAD005
- HAD008, visual mineralisation reported of 90m, i.e. not far off the excellent HAD001's size of 121m
- HAD009, which is 100m to the South even at depth, had visual mineralisation reported of 227m, i.e. similar to the world class HAD005

All in all, it looks very promising. We do not know grades and they may of course not be as good or as consistent. We will have to see. But I think all holes will have large amounts of gold in given what we now know. I would say we have moved from risk on [risk of a dud hole] to risk off and am a buyer.

Some PIs have already seen the HAD006 cores. Telbap on ADVFN stated after the agm:

"Myself and several other PIs were looking at Callum’s tablet, he was showing us images of had6 cores.

You can clearly see massive mineralisation, and also clearly see copper visually on several of the cores we looked at, we looked at maybe 20% of the drill, but mainly the interesting 20%. He also showed us the “barren” rock which was the first X mts drilled. One I pointed out to Callum and asked what sort of percentage he thought that might look like, around 10% copper.....this was about a 1mtr piece of core in an image of 6 similar length cores.

I will be absolutely gobsmacked if the results are low grade. They will at the very very least have some high grade copper.

I also believe we will see some positions being taken by smaller funds, a lot of “suits” there today."

Slaughtered? What an overreaction. It is currently down 1.8% on my feed...

Another unreliable narrator...

A repost from me...

Can people stop comparing GGP to OMI. The Anza project is in COLOMBIA. Mining in Colombia is a total and utter disaster. You could have 20m oz of gold there and still not be able to produce. Good grades mean nothing.

Want some examples? Here goes...

In 2017, AngloGold Ashanti suspended all exploration at the La Colosa project in Colombia, which has a 26.8m oz gold resource, and which could have produced 1m oz per year for 20 years, due to a local vote banning mining in the municipality. The project remains suspended and the Environment Agency says it is obliged to comply with the popular decision.

Also in 2017, the Canadian company Gran Colombia Gold had to sue the Government of Colombia for $700m for forcing the company to halt operations at its Marmato project until further consultation with locals has been conducted. The project has measured and indicated resources of 11.4m oz of gold. They then had to agree to underground mining only slashing the proposed mine to just 1.5m of oz produced over 12 years. They also have to deal concurrently with the presence of illegal miners in the concession. The first ones occupied the area in late September, blocking roads and costing the miner $2 million in daily losses.

Anyone remember Greystar Resources on AIM, which became Eco Oro? They had 15m oz of gold and a feasibility study to produce 500k per year. They failed to get the environment permit to mine and are now suing the Colombian state for $764m in damages.

The list goes on. Anyone really want me to continue? I can.

So yes, OMI have good grades, but any wonders why Newmont have failed to pay a decent up front fee there? $2m up front but not in cash rather in a dilutitive placing, $2m cash in 2 years and a further $2m cash within 6 years, is a total joke of a deal for OMI.

Here's why OMI's deal is so bad for them...you could have 30m oz of gold in Colombia and spend $200m getting the resource and feasibility study, and it means nothing, absolutely nothing, because many, many locals in Colombia are vehemently anti-mining and the getting a mine into production is incredibly hard.

In short, OMI's Anza project isn't worth the paper it is written on. It is completely worthless at this stage because the project is in Colombia, one of the most unfriendly mining countries in the world. Until all permits are obtained, and until all locals are onside (inherently likely), the project really is pie in the sky.

Next, would you like me to discuss OMI's financials?? Really?

Anyhow enough for now, safe to say that small punters ramping OMI haven't got a clue about the context of the exceptional drill results here at Havieron and the fact that GGP's project is in mining safe AUSTRALIA, next to massive projects in areas where mining is welcomed with open arms, with good infrastructure on tap.

So please, stop ramping OMI. Try to understand mining and not just grades.

I add that there are only 3 more full days trading and 2 half days before 2019.

I'm expecting a Santa rally. Who would want to be out for the New Year. Easy for buying to have a significant impact on shares over the Xmas to New Year period.

Some PIs have already seen the HAD006 cores. Telbap on ADVFN stated after the agm:

"Myself and several other PIs were looking at Callum’s tablet, he was showing us images of had6 cores.

You can clearly see massive mineralisation, and also clearly see copper visually on several of the cores we looked at, we looked at maybe 20% of the drill, but mainly the interesting 20%. He also showed us the “barren” rock which was the first X mts drilled. One I pointed out to Callum and asked what sort of percentage he thought that might look like, around 10% copper.....this was about a 1mtr piece of core in an image of 6 similar length cores.

I will be absolutely gobsmacked if the results are low grade. They will at the very very least have some high grade copper.

I also believe we will see some positions being taken by smaller funds, a lot of “suits” there today."

No, he states several million ounces. Several cannot mean 2m.

Thi should only relates to the RIo jv farm in with Antipa. It has no bearing on Rio’s own land and Theo alleged massive copper find for which see the camp and airstrip stories. I agree though this is good news for GGP and will focus attention more on their land.

Hi chrome,

My views last week were expressly based just on knowing about HAD005. "Clearly if HAD006 (etc) is good we could be looking at a lot more." Obviously, we now have very, very promising news on HAD006-HAD009 that moves matters on a lot.

The share price should follow suit. At some point this will pop / break out and all those not in will have regrets.

As ever to all, DYOR.

There is true value now; and true value in 1 month, 6 months or 2 years time.

Look at Mariana for example, of another high grade mine. High grade is important, of course, because you need to dig out less rubble to get the same amount of gold.

In 2017, Mariana owned just 30% of Hot Maden. It had a resource (only indicated and inferred) of 3.16m oz gold and 183k tonnes of copper. This gave a resource (indicated and inferred) of 3.43 Moz gold equivalent.

In 2018, this was subsequently converted into a reserve (proven and probable) of 2.61m oz gold and 129k tonnes of copper. Average head grade of 11.9 grams per tonne.

Before this, whilst still at the indicated and inferred resource stage in 2017, Mariana (with its 30% Hot Maden interest) was sold.

The sale price was £167m. Mariana had other assets, like Greatland, but also like Greatland it had nothing of real proven value.

100% of Hot Maden was therefore worth of £556m for what appears to be around a 3m reserve.

Note Hot Maden will be open pit and it has very high grades, but to counter this, it is in Turkey where permitting problems, corruption and political difficulties are not uncommon. Also see the below strength of GGP.

What impresses me most about the GGP drill results is the very high grade zones. Remember, for HAD005, they only need to mine just 62.5m of the 275m to extract 81.8% of the gram metres at an incredibly high average of 20.7g/t for those 62.5m.

Just using the highlights from the RNS, only the four key highlighted bands of 11.5m and 7.5m (upper zone) and 5.5m and 38m (lower zone) need to be extracted to get 1,293 of the 1,581 gram metres. That is staggering efficiency for an underground mine. I am interested to see if these figures can be repeated.

Information like this completely justifies the talk about interest from majors and demonstrates why Metal Tiger and others are buying in. They do not appear to have collywobbles, just the odd PI on a BB.

More recently, the news about HAD006 through HAD009 and the massive visual mineralisation (together with that approach being accurate for HAD005 when it came to assays) gives me great confidence that results can be repeated.

I cannot see why the market cap for GGP should not now be around the £150m - £180m mark. It could go a lot higher in due course (see MARL 100% and SOLG valuations for example) depending on scale and I like the battleships analogy posted earlier today.

This is equivalent to a share price of 5p-6p. I can understand the share price holding back before the assays are out and think a share price of around 3p to be perfectly justifiable at present. I think today's price of 1.75p to be crazily low.

HAD005 reported 239m of visual mineralisation. When the assays were announced later, they declared 275m at 5.75g/t gold equivalent.

Identifying the visual mineralisation was therefore fairly accurate. This is even more impressive when looking at the matched depths.

- Report of visual mineralisation from 458m to 577m. Gold was later found from 459m to 577m at 3.08g/t and 0.84% copper
- Report of visual mineralisation from 782m to 822m. Gold was later found from 660m to 817m at 6.04g/t and 0.44% copper

Now let's look at today's RNS and compare that to the 239m of visual mineralisation for HAD005:

- HAD006, visual mineralisation reported of 363m, i.e. 50% bigger than the world class HAD005
- HAD007, visual mineralisation reported of 237m, i.e. similar to the world class HAD005
- HAD008, visual mineralisation reported of 90m, i.e. not far off the excellent HAD001's size of 121m
- HAD009, which is 100m to the South even at depth, had visual mineralisation reported of 227m, i.e. similar to the world class HAD005

All in all, it looks very promising. We do not know grades and they may of course not be as good or as consistent. We will have to see. But I think all holes will have large amounts of gold in given what we now know. I would say we have moved from risk on [risk of a dud hole] to risk off and am a buyer.

A major would be interested now. HAD001 and HAD005 are world class intersections.

See the bottom of the RNS and notice the plural. Looks like an accelerated drill campaign planned for next year which is very good news. Drilling holes at this rate at this depth is good for exploratory holes but to prove this up multiple rigs (now ordered) are necessary:

"The Company has booked drill rigs for the next campaign at Havieron which is expected to commence in Q1 2019."

Thanks - the copy I saw only had the first part.

I have now seen and the results are very impressive.