Member Info for thelearner

perteralkeld - me too - thanks again Bamps.

Hi Bamps

As you know my knowledge of geology is extremely limited - and I really appreciate the views of yourself, Magic Trades and Hydrogen.
I have been reading a webpage / blog by the Angry Geologist - don't know if you have came across this - be interested in your views, and thanks for the post in reply to Goldworm.
http://angrygeologist.blogspot.com/2020/06/havieron-greatland-gold.html article about Haverion
http://angrygeologist.blogspot.com/2020/05/winu-exciting-times-in-pilbara.html article about WINU which is how I really found their page.
They say Winu is probably not big enough on it's own for Rio, but also mentions this geology rule - which obviously I have never heard of.

In many other mineral districts companies have applied Zipf’s law to gauge their maturity - i.e. are there other deposits that have yet to be found.
A simple rule of thumb would be the 80:20 rule - 80% of the resources are found in just 20% of the deposits or 2-3 big deposits, a few medium-sized, and and loads of tiny ones.

I am hoping in our areas it is the latter and there are 2 - 3 big deposits. I also think with further reading WINU is porphyry type geology, which is where the bulk of the world's copper is found.

Also apparently this law was never proven to be true and has lapsed into obscurity. Only the drill is going to tell us - and I am glad we appear to have a top geologist in CB. https://link.springer.com/article/10.1007%2Fs11053-004-0134-5

Goldworm - been reading your posts and finding them fascinating. I look forward to replies from Bamps and Hydrogen - have not really noticed posts by Pick and Shovel. I noted the other day you said you thought the next Haverion would not be found on GGP tenements - really interesting - suspect you think on Artemis property?

Havre you any thoughts about other Winu type discoveries on GGP tenements - Rio also have another prospect close to Winu Ngapakarra and Winu is open pit development. I thought looking at Winu grades it looked like porphory geology but the MRE report states "The deposit has been interpreted as a structurally controlled vein hosted Cu-Au deposit" - with lots of veins.

I cannot link to the Winu report but google for Winu Mineral Resources pdf. It's not only Haverion type ore bodies we are looking for?

Yes you get one chance at a PFS - but it is followed by a more detailed and comprehensive FS.
Hydrogen has shared with us before - we need to get some decent sized samples from the ore-body - to get detailed lab work done on the metallurgy - which is required to ensure the processing plant is designed correctly - or in our case will confirm if any modifications are required.

Regarding funding - everything is sort of explained in the Juri JV announcement from Nov 2020
https://www.lse.co.uk/rns/GGP/two-jv-agreements-and-funding-for-havieron-i7a329w9px7bs18.html

The $50m loan to GGP from NC "is expected to fund Greatland's share of joint venture costs (based on current forecasts) up to the completion of Feasibility Study"
Note the Feasibility Study - not the PFS.
"The new Havieron Loan Agreement with Newcrest secures for us our share of the necessary monies to accelerate activities at the Havieron project. Indeed, based on current forecasts, we now expect to be funded for our share of expenditure, including the costs associated with the construction of the decline and an expanded exploration programme at Havieron, up to the completion of the Feasibility Study."

""Early Works Expenditure": all capital and operating expenditure incurred during the Farm-in Period for activities such as the construction of a box-cut and decline and associated early works including camp, access roads, bore fields, offices and related surface infrastructure, but does not include any expenditure incurred for modifications to the Telfer Gold Mine processing facility or for the construction of any haul road (which are subject to a Decision to Mine). The commencement of the construction of the box-cut and decline is subject to receipt of required approvals."

Now I am not sure if NCM have decided to fund the Telfer costs and add GGP share of this to the tolling charge - this will be I imagine negotiated between GGP and NC.
The road and ore transportation has also to be funded along with the underground mining - these things are not included in the $50m loan.

Anyway - because Telfer is there - Capex will be much lower and mine development much quicker at Haverion - win win, especially with the expected demand for copper and price increase forecasts. Hopefully there will be some other rare metals in our ore body.

I too think PFS will be end of year, but hope I am wrong - problem at Haverion is every drill seems to find more gold - it's a very nice problem to have.

Best of luck TMT in your new adventures. You have been a very welcome contributor to this board and will be missed.

Like you I also hope this share will be life changing for my family - I have already done well but think there is so much potential here is the long term - Haverion I think will be better than many us us ever imagined it could be - and we could get lucky on some of the other targets.

Bitcoin, David and Emma manners live at Belvior. They have 5 kids including a son Charles, who is 22 and still single as far as I can tell. His sisters are Violet, Eliza and Alice - so not sure these are the "Manners Family" Charles and Alexandra who are listed as the major shareholders.

I cannot find any info about our major shareholders.

I am happy to see any rise here - been underwater here along time and average is 1.42. I never averaged down - last buy was at 1p. By that time I'd had enough of averaging down.
I note on the website for SML that CARE Central Australian Rare Earths (Hanns Camp) is no longer mentioned. In 2020 SML started winding up the part of the company that owned CARE tenements - probably no choice as cash strapped - but those tenements were in highly prospective areas. This was a great pity.

We've not had an investor presentation for some time - hopefully one will come soon. The others that will be most glad to see a big rise with be Charles and Alexandra Manners - the biggest listed shareholders with over 91 million shares, and who have funded many placements when the company needed cash. Very hard to find out info about them.

Anyway - I would be delighted with a 3 bagger from where we are today - but not holding my breath or getting my hopes up.

My top up patience did not last - another small top up today and waiting on a couple of fund sells for the next one - average now 6.42p.
I also realise why many say when you had a decent amount od shares bought below 2p - why keep investing here - for me - it's just I think low risk with considerable upside. Only time will tell.

Hi TMT

I realise why you have said at 4.2mOZ MRE - which will last for years - NC perhaps would not be focused on finding out what else there is to expand the resource.
I like you will defer to Bamps here but my thoughts are

NC already have a plan formed for what they will be mining from the current under construction decline and for the first number of years of production. However - my guy tells me they know they are going to be building an underground mine - but they do not know how deep, or how large it needs to be - but by the time they get to FS stage - they will want to know as much as possible.

Our decline to 420m top of orebody will help with the deeper drilling - but again Bamps can advise - depends how deep they envisage being able to mine to, and it's maybe likely they will eventually be drilling from a deeper decline than the current one?

Also been watching the discussions about falling SP. All my other miners are also falling just now - guessing related to gold price uncertainty, but also not too unusual in August when markets are quiet.

I have a decent amount of CNR - in profit but not hugely - been there a long time - and have missed fairly recent opportunities to take profit at 60p+. Was thinking about it last week, as it's still Nicaragua with elections coming up - and could shift some to here - but have not done it.
I also took a fair sized punt on XTR, would be around 25% down currently, but the bit is back in the ground and cadia style geology and 100 clicks from cadia - so holding on to this one.
Have some other juniors - none doing well.
Was thinking about selling some quite solid funds which have given me good profit to put in here. I am still convinced here - but this is a long term play - with only another big exploration success going to give large quick term return, IMHO - and even then if we find mineralisation - takes time to drill - especially if deep - and there are not many spare rigs kicking around.

So I am being patient - probably too patient - been lucky here - and everyones a winner - I have average up from just under 2p to just under 7p - or maybe just over 7p. I also bought at 33p - was carried away with FOMO Scallywag. Although I think any other discovery is not priced in - more disappointing results could negatively impact SP - in the short term. I have also posted many times - getting a strike is not easy, and can take a lot of time.

Anyway - GLA - I am not topping up - just yet.

Fraser McQ of Newcrest also said they love to JV and work with junior partners - and anyone was welcome to give them a call to discuss their project - but I think Mr Bird does not want to give away a large chunk to a big JV partner - wants to prove up resource and sell on. On this occasion think he is probably right. What he could find is though it keeps growing - requiring further drilling. Then they have to decide when to sell.

I was watching the NCM presentation the other day with much interest - mainly due to heavy investment in GGP.
Was fascinated to hear they had their Truescan XRF scanning facility on site at Red Chris in Canada since they started exploration drilling - and has been great in allowing them to make real time decisions rather than waiting on assays from lab.
He said they were also deploying one of these at Haverion (although they have double the rigs drilling there than at Red Chris) - and some seem to think it may have been on site at Haverion for while already (spotted in a photo).

I know XTR have also had XRF scanning on site - buy could be hand held? Don't know.
Anyway - there is no doubt Newcrest are a world class underground miner. And they know an awful lot about Porphyry systems - and Cadia is a phenomenal success story.

NCM and Cadia is the reason I bought here - when I saw this tipped by Bitcoiner and did some reading - as usual my buy in point was too soon have bout in the 5 and 6 p's - but happy to wait and relatively confident.

But I have to admit - although already in deep at GGP - and fortunately well in profit - I am even more confident in Haverion turning out to be a large Tier 1 mine - but deep mines tale a long time to drill and prove up - what XTR have is shallower and open pit potential - and hopefully will be quicker to get to full value.

rosso - I completely agree with this and have posted this several times before - on a couple of my previous posts I have shared the link and the story to how long and difficult it was for our partner NCM to find there Cadia ridgeway East/Deeps were - they more or less followed the process you have posted - and it took years - but they got there in the end.

Time will tell if Calum Baxter is exceptional at what he does - or if he is exceptional and also very lucky!

Bunky - I am very impressed with your knowledge of LTA.
I am over my LTA. I am in receipt of a DB pension, but had a relatively small amount in a SIPP, which I invested in GGP at 1.6p and unfortunately another AIM junior which has done the opposite, but still I have a healthy profit.

My next chargeable event is age 75 (as I understand it) - I am hoping I make this - and if I do nothing I can do except stump up the 55% and take the rest out - but not complaining if this is the case.
I have read - that if I can find a way to leave this SIPP to the kids, and I go before 75, as long as it's left in trust for more than a year - the LTA tax charge will not be applied. Don't know if it is true though - and not sure the way rules change it is worth doing anything about it.
My aim with the SIPP was to grow it enough to pay the 55% tax - well past that anyway and expecting more - hopefully.
No complaints here - I am fortunate.
The only complaint I ever had with gov tinkering with LTA - for couples - who are very fortunate to have both able to get to LTA - it's a bit better than where only 1 of the couple has a decent pension - that's my situation - would have been nice to be able to combine LTA.

Watched the video - very impressed. Noted though that the mineralisation at depth is getting narrower, he mentioned 200m, but the grades were improving. I have said many times we have a world class partner, not only in exploration, but in deep mining - I also hope there are more haverions floating around haverion! We will just have to be patient to find out.

Hydrogen - Truscan middle of last year - interesting, it looks quite portable and containerised so I'd be surprised if it did not turn up ready to work.

II's cannot buy - as far as I know II's could buy any amount of GGP shares they want to - nothing prevents them buying - except the price would go up as many PI's holding will not sell until they think the time is right - and everyone will have different objectives and targets. II's could have strict rules to follow which prevent they buying - many may not be allowed to buy until the have PFS or FS and decision to mine + finance in place. Some II's will specialise in getting in earlier than that - but will be the minority is my guess - but I am no expert in this.

My only worry is how sore my hands are getting by keeping sitting on them.

Yes Tig - you always are.

OK found it https://www.youtube.com/watch?v=3WPeO7JY2jk said 2020 videos but shows 2021 vid's

Does anyone have a link to the video? Fraser MacCorquodale NCM video at Diggers and Dealers - or did you have to register for the event to see the video?

Have not had time to watch this video yet.
If NCM do install the truscan lab at Haverion - would also be great for the Juri JV exploration drilling. I'd hope as a trusted partner and if there was capacity GGP could also use this when we continue and start the 100% owned tenement exploration, but will depend how long this takes to get it up and running.

Many here have always believed there was more at depth - but I still think will be a very long time before we saw the true size of haverion - the real deep drilling will only commence when decline is completed - and maybe even when decline #2 is built - which will surely come for underground mining.

I am certainly not ramping - I have always said patience required here and will be long term to see the largest gains.
Many times this year I've told myself I have bought enough GGP. My ISA allowances for this year are all used. Going to look and see if I can sell some other stocks - have read the slides at lunchtime - but will watch the video first.

Newcrest have been moving heaven and earth to be able to mine Haverion and get ore feeding Telfer ASAP - this will produce a very nice revenue and profit stream for them - with a relatively small capital outlay - and this income will fund the building of the deep underground bulk caving mine that Haverion will almost certainly become in time.
They will not do anything that would affect their reputaion or company image - they already have 70% of a very probably tier 1 mine for very little cost - in my opinion they will be happy for GGP to be able to grow and succeed here.

GGP still have a lot of very nice 100% acreage that they may fancy a part of - if there is exploration success.

Shareholders here just need patience. Yes I wish I'd sold some of my holding in the 30's - and bought back now - that was my fault. Still not sold any of my GGP shares - and bought some more yesterday. Long term investment for me.

NCM are producing 3 x PFS by end September 2021 (Lihir, Cadia, Red Chris) - and the Haverion one in 2nd half of CY21.
Just wondering if it will come after the others - but why so specific on 3 and a wider range on Haverion one - maybe still being surprised by what the drill is finding?

I am happy with the results. Will do nothing for share price - only thing that will move SP up is demand for shares - we are in the very quiet summer period - lot of markets are quiet at this time of year, price of gold/copper seems to have a bit of uncertainty.

Next thing for SP here will be the exploration results from the "scout" drills on Juri JV. Just have to keep sitting on hands.
Bamps is excited about what is under the known ore body. I think I recall Spy saying over a year ago - something like there is another one underneath. Only time will tell - and it will take quite a bit of time to truly explore the deeps at Haverion - but there is a much higher probability of a lot of gold and maybe copper down there than anywhere else the drill is going currently.