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Hi ProfQ,
....finally we get a radar image. I was feeling deprived. No fresh daylight image dug out of the "ground anomaly" yet.
We are still drilling at what everyone reckons is Teach just a few hundred metres west from the decline in Scallywag. We are no longer 8km west at the bend in the road. Sparkly lights west of the road I think are just spurious noise.
Can't see anything within Canning. And all bright spots round and about look like noise - when you zoom in lots on the radar they become fuzzy.
Our northern neighbours have made it to ....their field camp.... no sign of drilling anywhere nearby.
Further north Rio looks like they have finally rocked up to pads prepared back in April. Near -21.64, 122.605..... with a fairly chunky bit of kit judging by the big radar echo - lots of air conditioning I dare say.
I think the 5% will be sold... Fair Market Value is decided by an independent mutually selected 3rd party who will build in a "future finds" figure or on-going percentage into the valuation. This is a bit like when a promising footballer is sold and goes to a new club. If it turns out that he is as valuable as a Messi or Ronaldo in future years and is sold on by the new club for millions the contract has a clause saying the original club gets a percentage when the payer is sold by the new club.
I do believe our HAV tenement was obtained from previous owners with a similar clause - if there is a "decision to mine" the previous owners get a chunk of GGP shares - which will of course are currently and will be then worth an awful lot more than at the time of the deal - the previous owners can then sell them on the open market to make a heap of cash.
I also recall reading the 5% clause wording in the original JV agreement and thought there was a way that GGP could actually force a sale (and hence get a wodge in the bank to fund future exploration on 100% owned tenements) even if Newcrest were reluctant to buy. Would have to go back to the original JV to see what I thought could unfold in that situation - may have read it all wrong of course.
Anyone who thinks the Newcrest deal was a bad thing are the sorts of people who stashed a VHS video cassette player next to a typewriter in their attic a few years back, and still have an iPod Shuffle at the back of a kitchen drawer.
Gotta get the gold out of the ground, and as a PI, I'd rather not see GGP crawling slowly towards that goal via repeated fund raising / dilution.
The Newcrest JV route means I'm going to be alive at first HAV pour.
.....and I don't hold out much hope for today's daylight image to be cloud free. Oz weather sites are full of rain / storms / cloud .....and 40degC heat. That's a tough shift to be working on a drill rig.
This is a pretty good bit of party pooping by the satellite folks:
"Temporary Copernicus Sentinel-1 data unavailability since 04 November 202105 Nov 2021 As a consequence of a ground segment anomaly, the Sentinel-1 systematic production is significantly impacted since 04 November in the morning, leading to over half of the production unavailable."
Crikey, I'm going to have to go off and find the right car headlight bulb and spend Saturday fiddling by the engine compartment and wondering what dextrous, skinny contortionist designed the layout under the bonnet. Rather than oggle satellite radar images.
@BottleR
I watched it this evening. The GeoView bit is a familiar web page, and then inspired I registered on EOS and started to rummage around until my laptop ground to a halt. Probably need to, sharp intake of breath, read the online user guide, rather than just clicking at stuff.....
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.... And breath out.
The radar on the 23rd showed continuing activity at the bend in the road 8km due west of HAV. The daylight images are tricky to read due to that bit of outback being very speckled. If the radar ain't lying and the activity was drilling it would imply we probably need to wait another six weeks.
The curiosity about that activity is that they were also there, but at slightly different spots, on the previous radar image. That would imply an awful lot of holes were put into a small area.....
The Antipa report is amusing on many levels..... I do enjoy a bit of core porn and they have a couple of tray-fulls of it on show.
The inclusion of HAV facts, figures and cross sections alongside their own tenements and drill results is verging on fraud and pushing a deceitful version of nearology to an extreme. Can't we copyright what is in our RNSs and do them for breach?
I laughed out loud at the pie-chart showing the breakdown of shareholders. Newcrest, the management, IGO, institutions and by far the biggest chunk labelled as "Other". In my day that label would have only been allowed on a tiny left over slivver at the end of identifying all the big slices. What's stopping them from saying Private Investors and spelling it out proudly?
Hmmm, that last question probably doesn't need answering.
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Here we go with your 3-6 posts '1 month old dodge account' you won't last long here, believe me.... Spreading FUD - fear uncertainty and doubt - over the bulk underground, because that's essentially the only unknown left that such disingenuous posts can target.
Last year we had months and months of tecnhical FUD with the GreenTool and others - who said Havieron would never be economic... but here we are 12 months later with a gigantic starter deposit, a $50m decline going in, and $50m GGP cash funding to DFS, and a published phase 1 mine PFS to take to the bank ... so NCM can get ore to Telfer ASAP.
You may be able to confuse and scare the un-researched with your manipulation, but you cannot touch Bamps or me.
For the rest of you MrBig is a skilled and devious operator who last night was attempting to exploit an ostensibly clever argument. The posts were subsequently removed this am. For the correct reasons.
What he/she was trying to do last night was apply NCM's conservative, underground stoping phase 1 mine operational costs @ $84/tonne - actually $81/tonne according to GGP using the correct exchange rate to Bulk Underground production.
The first Stoping operation has naturally has lower volumes, due to the inherent volume limitations of the Stoping technique and higher costs - ore transport to surface limitation, requirement for drill and blast / explosives, and extra material handling, and subsequence labour in back pasting costs )
But you cannot apply this to the anticipated Bulk under ground block caving grades of the larger scale deposit where the cost per tonne would be circa $25-27/tonne
This is a totally and fundamentally inappropriate comparison made by BiggL - It's like comparing two completely different company cost structures, AND specifically designed to imply that anything under 1.5g is likely to be 'uneconomic'...
And It's total BS becuase we ALL know that Cadia is economic down to 0.4g/t Au... specifically due the bulk efficiencies of the operational costs.
And very much like comparing and interweaving the cost structure of building Ferraris directly to Ford Fiestas -
IE both make massive profits, BUT in TOTALLY different ways . Obviously You cannot make a profit building Ford fiestas in the way you build a Ferrari though. That would be loss making.
That's the best analogy I can come up with. And that is the tactic of this poster. Always Happy to smash them into touch.
Expect Multiple shorter accounts with a very obvious agenda.s
Regarding bulk underground : The only question is will this be a block cave or a more selective sub level cave...? Anyone with mining nouse can see that.. The grade in those breccia are nothing short of sensational. And a mine in their own right.
Just idly rummaging around Sentinel ....
I think there are three Scallywag spots with activity of sorts. The first is with a drill 2500m south west of the decline which I completely missed but everyone else on here saw. The second is a light splodge about 500m north of that drill that I was never sure about, it seemed too large and fuzzy. It would seem it probably is prep works cos there is a third clearing about 500m due west of that splodge - a clear as a bell lighter spot on a dark background if you view in false colour.
Can't believe I didn't spot it earlier....
There again, I was distracted by learning where Rudall is and then NC's RNS dropped.....
Handy website is GeoVIEW which is a western Oz government website. Link below with some added spaces – which may or may not survive the LSE censors
https://geoview.dmp.wa.gov.au
/geoview/? Viewer=GeoView
To get the tenement maps and background you have to do a bit of rummaging. Click the banner to get to the maps – you may have to register once to get past this bit….
Fortunately the national park south west of Telfer is shown as the big green trapezoid east of Newman so you know where to zoom in to rather than searching thousands of miles of outback. Aim for its northern edge.... you may see the familair curving lakes that are east of HAV.
Click I want to, then “Search for drillholes” is a handy first choice cos this will mark Havieron very nicely for you.
E45/5533 is the Rudall tenement (GGP’s project pages will list their other tenement licence numbers), which is on the northern slanted edge of that national park.
On the Layers (bottom left) tick Drillholes (Mineral exploration), tenements (Live/Pending) and tick Landgate Aerial Imagery to get a familiar (ish) red outback – beware it is a couple of years old so some of the sand blows around – the lakes tend to still be in the same place.
You can now roam around the map with the tenements shown as an overlay. If you click Lat/Long at the bottom of the screen it will show you latitude and longitude (and include a correction factor – which would explain why all my Geodesic conversions from Sentinel never seemed to work!) and also the eastings and northings which are on GGPs maps and used when they talk about drill hole locations.
Any questions - you're on your own - but let me know when you suss out how you download tenement boundaries and overlay them back onto Sentinel images - Brew seems to have mastered that judging by his YouTube the other night!
Will dig out the details (pun intended) when I'm on my laptop. That may be tomorrow late on if my day today turns out too busy.... I'll try and stick it onto this thread unless something crazy happens today and we end up with 3,000 posts.
Last night.
I had a look at it while waiting for the NC RNS to show up.
So, from what I think I can see, there may be a second Scallywag drilling location north of the first about 2500m due west of the decline. It is s fairly large lighter spot so I'm not convinced it is truly a drill location.
HAV itself didn't have much new. The ENS last night would explain why. Some drill locations have things like "...W6" as part of their name showing its the 6th hole drilled from the same spot.
Northern neighbours still didn't seem to be drilling.
And, I now reckon I know where Rudall is courtesy of finding a fantastic Geo mapping website that if you tick the right boxes labels up satellite images with tenement boundaries and ID numbers.
And having found it I couldn't see any activity.
I do not hold a candle to the shining light that is PG.
...and much of my satellite knowledge was gained from insights posted here by the likes of Value_Seeker and the not seen here recently AM90.
And I like to think my small screen gadget and terrible eyesight add a frisson of the unknown to every Strudel posting, that hopefully amuses some as I bark up the wrong tree, or perhaps down the wrong hole.