Hi stuartw - don't know if it will affect your thinking on MRE but Newcrest gave an indication of mid 2021 for the PFS, roughly when they will have drilled a further 80,000m. I suspect we'll see an updated MRE nearer to PFS but the maiden one could be any time next 6 months
If we're talking about paying the least amount possible then I would suggest $45 Million for the next 30% under the JV is a pretty good deal. I simply cant see Newcrest paying more, or being able to justify it to their shareholders, by going in early.
badshah13 - he did not say better than Cadia I love a good presentation as much as anyone and anything positive for Hav is brilliant but this whole re-interpreting of what SB actually said is not helpful. The project stacks up perfectly well without this nonsense - cherry picking snippets and re-interpreting them is just pointless. We have a huge resource Newcrest will mine it High Grade is x10 better than Telfer current processing MRE H2 this year PFS mid 2021 Decline now if we could 80,000 metres more drilling from July Nailed on Telfer feed moving forward
It's enough, at least for me.
Everything is good here but maybe a bit of patience required. 25p tomorrow or 50p in 12 months. Happy to wait
Yep, more than happy with that sort of figure. Just curious re what will be included in MRE. Have we had any sort of cut-off date yet? You say that any step-outs will not be included and thats fine, but presumably they could still infill and include these if they wanted, bearing in mind that MRE could be any time in H2.
OK, I might have missed something here but GF calculations are from drill cores? What about the rest? I have no idea of current drill spacing but if its 50 metres, for example, the calculations take no account of all the mineralised metres in between. So really, its just guesswork. Happy to put my faith the greater knowledge of the experts at Newcrest and GGP. Nice try though TGF
You may be right but I too would be happy if you were wrong. There are a couple of reasons, although I accept that one could make a case for any potential outcome.
1. Why would Newcrest pay 'full price' for Haveiron after MRE? They already get another 30% for $45M. They would somehow have to justify any additional cost to their shareholders.
2. Would they risk an offer for GGP when they only own 40% of Haveiron? There are other majors with bigger war chests than Newcrest. Not sure they would want to risk the future of Telfer by potentially trying to save a few dollars going in early for GGP.
It will be interesting for sure, whatever happens.
I'm quite sure that all the LT investors here will find your presentation both useful and informative. Please ignore the 'ne'er do wells'. You've added significant value to what is already, in the main, a positive board with many well researched posters.
First MRE will in no way reflect the actual size of the resource, it's merely a starting point. We'd likely see MRE2, MRE3 leading up to PFS if we're still involved at that point. So yes, it will be conservative but based on what they know at that point in time. I'm hoping that the MRE won't just be based on what they're infilling at present and will include some expansion, but who knows?
Red - MRE is due sometime this year but I'm not sure 'soon' would be accurate. Latest Newcrest resource dimensions give us approx 11.5Moz at 2g/t and they are now stepping out and expanding the footprint. I'm pretty sure the MRE, when it comes, will surprise to the upside.
Hi thelearner - Just a point on the PFS. There is no way this will be completed before July and probably not before July next year. Newcrest have just committed to 80,000 metres drilling from July this year for 12 months. It would be pointless producing a PFS just yet. Yes, they will probably meet their financial committment for Stage 3 early but JV states that its a minimum spend.