Member Info for strudel

Well the gadget finally co-operated and loaded today's image and I still can't see any return of a drill to Scallywag - over to someone with better eyes to see if they can spot anything.

The northern drill at HAV that ProfQ spotted (north north-west of the paperclip) will also be another exploration drill to (inadvertently) help out NC's JV partner in the north. The last image had a northern drill spot a mere 300m from the tenement boundary.

Let's look forward to what they say about Apollo....or whatever they are calling it these days.

They, the neighbour's, got their approvals to proceed this week with drilling, announced as they were showing their drill results from Minyari (tens of kilometres away) overlaid on top of our HAV geology backgrounds. I had been swithering about diversifying my gold investments (the entire wodge currently sits with GGP, a position that some on here would describe as "serene") but decided the RNS mid-week from the northern neighbours ruled them out. Do they have an equivalent of the Trades Description Act in Australia? Did the ASX nomad approve the RNS? Do they even have nomads on ASX or wherever they are listed?

Reminded me of estate agents in the early 90s where one property brochure had a picture of a lovely kitchen, the reality in the property was a tin sink below a mouldy window and one storage unit standing on bricks. The Estate Agent claimed the picture was to show what could be done and this was explained in the words. Even my better eyesight of 30 years ago never found that small print.

@ProfQ
Can you see anything at Scallywag yet? They RNS'd they were drilling there againn but I couldn't see anything that looked like a return to previous pads nor the start of new sites on the last daylight image five days ago.

....my gadget is teasing me this morning and not actually loading the new satellite image.

Well, now the tennis is over maybe you've pointed me towards my next bit of entertainment.....

The gold-cyanide complex.

Predictive text nearly got hold of that last sentence and had it as the Golf-cyanide complex, which on reflection may actually be appropriate.....

@Bamps,
I don't quite see why a third metal/ore is quite so desirable or necessary for HAV - this stems from your remark about how Cadia has molybdenum and a negative ASIC.

My only knowledge of copper mining is going to visit a Chilean copper mine and smelter as a tourist (sorry folks, that's what engineering nerds do when they are on holiday). I do recall having removed all the copper from the ore they piled it into a big heap and dribbled water through it to leach even more copper out of it - literally squeezing it dry.

If you "only" have gold and copper to extract then you don't need to invest in more processing plant to extract molybdenum or cobalt or whatever. And if the percentages are decent in the gold and copper ore then your ASIC is pretty much sorted, your operation will be profitable, without adding more complication.

There is no doubt a knowledgeable expert on here who knows about the longevity and success of single or dual metal extracting mines compared to ones that extract multiple different metals through history.

I think their nearology is confusing folks - the talk about unexplored northern and southern areas on NOT referring to HAV.

They appear to have cut n pasted the deeper geology of HAV and stuck it onto the depths where they have not drilled yet on their own Minyari find.

Ta for the analysis PG. I did fear the activity west of the spoil heap was more decline / mine construction connected rather than Scallywag exploration.

Which makes me wonder where is their Scallywag activity. Maybe we'll see pad clearing in the next daylight image?

Hmmm, first link didn't work as hoped, try this as a consolation prize:

https://apps.sentinel-hub.com/eo-browser/?zoom=13&lat=-21.71841&lng=122.64587&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Ff2068f4f-3c75-42cf-84a1-42948340a846&datasetId=S1_AWS_IW_VVVH&fromTime=2021-09-05T00%3A00%3A00.000Z&toTime=2021-09-05T23%3A59%3A59.999Z&layerId=7_SAR-URBAN

There's an additional curiosity far to the west at -21.66176, 122.48566

Hard to tell what is happening there on a smartphone screen.

A hum dinger of a satellite has just appeared. When "drilling at Scallywag" was RNS'd did we think it was going to take place 500m west of the HAV spoil pile? Or is this still within the HAV with NC joint venture area? It is on a colourful bit according to age old gravity-magnetic mapping. I always fancied it as a target even if the bulk of the juicy bit looks like it could be on Rio's tenement further west.

There's also a couple of northern spots that look like HAV drill activity. Nearest to HAV and a couple of hundred metres south east of the bend in the road leading to the explosives store is one spot. The other is a cool 1500m north of the explosives store. The northern neighbours will be keen to hear its lab results.

Another curiosity is the number of possible drill locations in and around the classic HAV oval. Seems to be more than nine.

Not too sure if this link works comparing day and radar images.

https://apps.sentinel-hub.com/eo-browser/?zoom=14&lat=-21.72237&lng=122.65157&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2021-08-28T00%3A00%3A00.000Z&toTime=2021-08-28T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR

Usual small screen caveat applies.

Roll on Wednesday night.....

Unbelievably, after a good run of crystal clear images today's daylight image has a lot of cloud cover above HAV.

No over-annalysis of Scallywag drilling locations and progress until next week then!

Patience....

USD1.1 million from the suction, with the spotty 58.6 getting 580,000 just on its own.

Today's RNS also shows prices recovering - our 14 carat stone got 286k, precisely 100k more than a 14 carat in January...... Unless of course I'm not taking into account the quality classification?

In the licence applications I thought the 6 star hotel for GGP PIs was going to be next to Lake Havieron which will get deeper and deeper as block caving really gets going? The ultimate cooling plunge pool with linked walkway and diving board....

Maybe the rectangle is the foundations for the viewing terrace, the ideal spot for sipping a G&T / pint / pint of G&T whilst watching the sunset and watching all the ore trundling past in a fleet of trucks / conveyor belt.

Have tried to study and compare the latest satellite. Can't see anything new as compared to the 23rd in/around what I understand to be Scallywag.

There is however a rather large light coloured blob about 200m south of the new field camp's southern ring road.

And to start the most ludicrous rumour founded on diddly squat understanding and knowledge - there is a big extra rectangular bit just north of the growing spoil heap which will obviously be where they stockpile the gold bearing ore they find while continuing to dig out the decline.

Usual small screen caveat.....

https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=-21.71683&lng=122.62486&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2021-08-28T00%3A00%3A00.000Z&toTime=2021-08-28T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR

@TomE
Spotting activity on daylight images is very tricky - specially in new areas. Add in a fresh deluge of rain and daylight images become very mottled. The radar is a very handy, but sadly not very frequent, way of seeing where rigs / chunky bits of kit really are on the ground.

The two or three northern bits of activity may well be ground clearing operations prior to drilling, it's just that as of yesterday when the radar image was gathered there were no rigs in situ. We have a couple more daylight images to study before 12 days have elapsed and the next radar image is published.

.....and I can safely say I can see no drill rigs on the northern side of HAV in the area towards our tenement boundary where there seemed to be lots of activity on the daylight image.

And Scallywag is similarly dark so unless they are in a naturally sparkly bit of bedrock then yesterday's RNS meant they are still indoors in the field camp enjoying the air conditioning and drinking cups of tea whilst reading the plans for drilling.

Usual small screen caveat.....

Sentinel is gathering data today and it will be published tomorrow so we should see the Scallywag action. I'm guessing they will just have the one rig and with eight holes just over 500m each (my wild presumption they will all be going to a similar depth) they will potentially be moving across the ground quicker than when they move rigs around at HAV.

Was Rudall next on the list for the 2021 season - can't imagine all the recent rain will make that an easy spot to even get a rig to....

Patience....

I thought water was quite sparkly? Presumably if there was a breeze making lots of ripples...

I did read a heap of techie blurb about SAR just before an afternoon siesta, don't recall the end of the article at all...

Just had a look at today's satellite on a full size screen, it appears to have rained again during the last five days. And I ain't so sure about all the northern activity. We are due a radar on the 25th so it may prove what is drill activity and what is just ground conditions changing with the weather.

I wonder if the black works either side of the new dune crossing are to help stabilise the sand and stop the prevailing wind trying to fill in the cutting?

I like the scatter of the northern activity, well spread out and continuing over the course of months and months - I think there was at least one hole made up that way in the GGP-only era.

I take it the heritage approval is still being awaited by our northern neighbours?

SD not buying shares may also because he knows he has a wodge of warrants, exercisable at 25p, can't recall how many. I have never been in the position of having warrants as part of my employment terms but it must influence an individual's thinking. If all you want is to make a profit than you would logically leave the warrants until the last possible moment before expiry and exercise them if they are in the money, and sell them immediately. This assumes over the longer term the SP is on an ever increasing trajectory, ignoring the "noise" of short term ups and downs.

I'd be happier if SD exercised the warrants when the SP is at 30/35/40p and then keeps all the shares. Or only sells enough to cover the costs of exercising all the warrants in the first place.

The other consideration is exposure - if you are in effect buying shares in your employer you are increasing risk if something were to go wrong. SD should have an advantage here over mere mortals like the average PI, as his hand is on the tiller of the good ship GGP and he should be able to steer the company on a safe course to growth.

Similar risk exposure concerns should stop every logical thinking homeowner from ever investing in shares of listed housebuilders. There is a high likelihood that courtesy of the house you live in it probably already forms a considerable chunk of your wealth and buying housebuilders' shares increases your exposure to that sector.

Rather than put huge weight in whether or not SD has bought shares in GGP I'd focus more on his approach to warrants and more importantly what he is doing every day running GGP.