Member Info for thelearner

I have been invested in Northern Superior Resources since March 2018 along with some colleagues. One of my work colleagues owns a lot of these.
So I am going to make a point of watching the video and can share it with our NSUP whatsapp group. I don't watch all the videos - need no convincing on GGP.

I have posted on here a few times about NSUP - been very much a roller coaster ride for me - and going upwards presently - I think. Fluctuates a bit.

Hi Bamps
From the Juri JV RNS - so the $50m loan for "early works expenditure" does not cover Telfer mine modifications, or the hail road, it may read anything that comes after "decision to mine" which would include in my mind anyway, underground mining structure.
However - until a PFS is produced, I read that Greatlands share of all costs t PFS is still capped at $20m.

Keep posting here Bamps - you are some of the others are what makes looking here still worthwhile.

thelearner

In order to support the planned acceleration of the construction of a box-cut and decline and a faster rate and scope of planned spending on exploration activities, Greatland has agreed to fund 30% of Early Works and Growth Drilling Expenditure prior to completion of the farm-in :

o "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.

o "Growth Drilling Expenditure": all exploration expenditure in connection with growth drilling on that part of the JV Area being outside of the area of the Initial Inferred Mineral Resource which is expected to be delivered in December 2020.

o Greatland's obligation to contribute to Early Works Expenditure and Growth Drilling Expenditure, in aggregate and prior to the completion of the Pre-Feasibility Study, will be capped at the amount of the Facility A Commitment (US$20m) or such greater amount as provided by Newcrest.

I also think that we should be helping each other passing on what we have discovered and correcting any potential misconceptions on this board.
I have read recently GGP with the $50m loan are fully funded all the way to production.
Please carefully read the Juri JV RNS - this is not the case. The $50m loan - if it is all required - covers GGP share of costs for drilling to FS, FS Costs and costs of the exploration decline.
It does not cover any further project costs like the road to Telfer (if that's what the PFS/FS decides is how to transport the ore), the underground mining structure, any modifications required at Telfer or probably the initial stoping operation costs.

That's how I read it anyway - does it concern me - not in the slightest, but the time that funding is required, GGP will easily be able to raise that through a loan, or sale of the 5% at FMV - if this goes ahead.

I completely agree with these comments and am sad at how this board has developed.
I also understand why people are perhaps underwater having bought at high prices and see the share price "languishing" around 21p, having been at 37p - this is what happens when you invest money in the stock market - and patience is required.

Also some personal responsibility is also required. I alone decide to buy a share - I can research, looking at company documents and I can listen to the opinions of others on a chart forum - but at the end of the day - I decide based on what I have researched where to put our money.
Anyone buying of chat forum recommendations alone is very foolish.
Like everyone else, I visit this board and make a decision, not always easy, on whose advice to place most faith in.

I do not have a lot of spare time, and find it hard now to read the whole board, and have now started using filters - something I never did before.

I was originally on Telegram - but could not keep up with 2 whole boards and came back here.
There are many on here I respect hugely, and they probably know who they are. I do hope they do not leave this board, because it will be much less without them.

I have bought here at 33.5 - but am fortunate to have been in since 1.6p, but am not concerned that I will lose money in the long term on my 33.5p purchases.

GLA

7. Holes were immediately drilled 350m south (NC484), and 175m north (NC485) of NC371 but the vein zone was not intersected. In May 1996 NC488 was drilled 275m east of NC371 and intersected broad Cu anomalism. It was a logical decision to drill across the mineralised trend, and then back towards other known mineralisation before drilling to the west, which is where the deposit proved to be
8. The precise siting of the discovery hole (NC498), 175m west of NC371, was made using a structural interpretation of the results from existing holes, supported by the results of the interpretation of a heli-mag survey flown in autumn 1996.
9. By November 1996 the Ridgeway site was dry enough to allow access so hole NC498 was commenced. It intersected two zones of very high-grade, porphyry stockwork mineralisation — 145m from 598m at 4.30g/t Au and 1.20% Cu; and 84m from 821m at 7.40g/t Au and 1.27% Cu ? and the deposit was discovered.

The rest they say is history - not easy though is a great you tube video below with the history of drilling at Cadia – and shows the growing resource size along the bottom. https://www.youtube.com/watch?v=dB77ag0Dj1w

I have posted this twice before - to illustrate how hard exploring can be - but with patience how good the rewards can be. For those writing off Scallywag - you may be correct - I hope not - but this is what exploration companies do - we may have got a little lucky at HAV. Only time will tell with SW and the others.

https://smedg.org.au/discovery-of-the-cadia-ridgeway-gold-copper-porphyry-deposit-john-holliday-colinmcmillanian-tedder/
This is the brief story of the discovery of Cadia Ridgeway discovery - by NC mining - our Hav Partner. This is an Orebody starting under 500m of cover and 50-100 metres in diameter. Hopefully this illustrates how tough exploration is, how small in relation to the surrounding area the ore body is - so hard to find, and how rewarding exploration can be - but big finds like these are rare.
The geology at Cadia is different to Haverion area - but I'll leave that to the experts.
1. Exploration prompted by the recognition of magnetic feature. 1985 Homestake Australia drilled two RC percussion holes to downhole depths of 95m with very poor results.
2. 1991 Newcrest drilled seven further RC holes to depths of 42-90m to more comprehensively test the magnetic targets - results very poor.
3. 1992 - Cadia Hill was discovered - so step out drilling started - 200m step outs - holes 300-600m length. Cadia East discovered quickly. At Ridgeway - they seemed sure there should be mineralisation - but could not find it. Suggestion the IP survey could not see the ore body as it was too deep, but suggested something, possibly a disseminated pyrite halo above the ore
4. 1995 - The first of a total of nine holes (RGRC1) obtained the most significant result: 8m at 0.42g/t Au and 0.53% Cu from 182m, but there were 27 other narrow intercepts of +0.10g/t Au in the holes. The RGRC1 intersection is now known to be due to an extreme outer halo leakage vein above the Ridgeway deposit. Geologists then twigged the orebody might be deeper.
5. 1995 - a fence of wide-spaced core holes (NC’s 368-370) was drilled to 500+m downhole depth, across the NW-SE mineralisation trend at a position one kilometre to the east of Ridgeway. It was considered at the time that none of these holes had obtained significant intersections of mineralisation, but the presence of encouraging alteration, particularly hematite dusting of feldspars was noted.
6. 1996 - Based on the review of the drilling it was decided that NC371 should be deepened. NC371 was deepened to 858.4m in February 1996. The deepened hole intersected chalcopyrite-bearing, sheeted vein style mineralisation from 610-711m. This mineralisation compared very well visually with similar style mineralisation at Cadia Hill and was considered immediately to probably be a new discovery. However assays showed that the vein zone carried very little gold - but encouraged more drilling in the area.

OilMonkey - below is what Bamps21 replied to me a few days ago - he expects the decline to be at the top of the ore body by Xmas this year.

Hi Thelearner
Telfer needs a sample of ore, i'm not sure how much, so they will know how to treat it, what other minerals are in it and what further processes are required.
They need to know the right consistency of acids for the type of high grade ore coming, i.e. cyanide and sulphuric acid are 2 main ones.
The top Decline has 3 aquifer levels to get through with high saline content that may hol up proceedings.
The spiral above the ore body is the one that needs to be away from the orebody.
The one below may go under the one above and this is where the stoping tunnels will come from as the Decline goes down.
The lower Decline is about 3 times longer than the upper one around 8-9,000m in length to get down about 1200m of ore body.
The stoping to remove the high will start vertically and as the Decline descends will start horizontal stopes to remove the HGZ prior to the bulk mining.
That's my interpretation of how things will proceed.
Some on here are talking about full mining in about 2 years, I personally wouldn't call it full mining it's going to be a gradual increase in production as the years progress.
ATB:))

Regarding the remaining 4 Scallywag drill results, I believe these will be reported to shareholders, but probably in the same RNS which will outline the 2021 Scallywag drilling programme, and with some information on how the previous drills have guided them to the new drilling locations and depth of drilling planned.

Juri JV - somebody said "fully funded" - I hope not - NCM are committed to spend $20m AUS. I am hoping we are going to need much more drilling than that after hopefully we get some encouraging exploration drills.
Also I hope NCM do have to take over management of the Juri JV - means we will be onto something big!

Cannot follow the whole BB too many posts.

my name means I should be 6. But I would say a 4 or a 2.
That's how I see me - but others probably see something different.

I have only been increasing my holding. I guess like many wishing I had top sliced then been buying back in even more than I have been recently. my latest buys in 2021 have been @ 21.3/32.8/33.5. In Dec 20 29.4. Oct 20 from 19.5 to 22.7 - before that I stopped buying at 7.5 - very silly of me.
I have not sold any - my average is 5.4. Got a decent holding for me - but wish I'd been much less cautious when buying below 5p.
When I look now and see our grades and the length of the grades and compare it to others - Haverion is a one off I feel.

I started buying OMI at 5p in Sep 20. Took a £7k profit that went here - missed more - still have a small stake and even after today still up 50%. They had excellent results - but not when you compare them to Haverion.
Very happy here - just waiting on some more funds arriving in my ISA. Could well be buying again here.

ISAPENSION - i got very lucky with GGP. Was posted/tipped on SML board, I went and researched and really liked what I saw, and I had my Condor and SML experiences behind me, both of which have been traumatic. I bought GGP largely at 1.7/1.8, topped up in smaller chuncks to about 12p, then stupidly stopped (due largely to previous problems here and SML) and have topped up again in the twenties, and yes at 33 a couple of times just before the Scally drop. Not concerned though.

Main reason for my lack of concern at GGP is the partnership with Newcrest, world leaders in deep mining and caving, and the fact Telfer is 35km away, ready to go and desperate for ore feed - so there is no doubt NC are going to mine and quickly. Ironically what is actually slowing down the start of mining is the size of the orebody. They cannot find the limits yet.

CNR - Like many, I was sitting on a nice profit just before all the political troubles started in Nicaragua, dithered one Friday afternoon about taking some profit, and then share price bombed. However have always believed. Luckily my belief made me top up again a few times around 20p and lower my average.
However I see how hard it has been for CNR to transition from explorer to producer, and see how much easier it has been for GGP with a JV and experienced major miner.

I share the views of many on here, I want to see all PI's do well, but have learned a lot over the years - have not learned though when to take a profit and buy back in on the dips. I really don't have much spare time which does not help.
Hope everyone does very well here and at GGP.

SML - even with the recent recovery think I am down about 60% - many are now bullish with price increase for copper/tin, but if I can get back to a moderate loss - I am getting out - have lost faith in BOD.

I have smaller stakes in NSUP (Canada - was well underwater but now in profit and hoping for more), OMI/UFO/BZT/XTR. Finding I have learned a huge amount about mining for precious metals, especially deep mining.

The Canning exploration licence application (E45/5862) has only been applied for by GGP. It has still to be granted by the Aus Govt - although this is expected.
While the application is pending - GGP are going to collect & review the existing survey data, and remodel it.

I tried having a look to see how long from application to granting is typical - but cannot find it. Then GGP have to do the remodelling, formulate an exploration plan, I'd imagine apply for permission to drill etc. Then raise the finance and award contracts. So maybe unlikely to happen in 2021?

ISA - I just commented on your post on GGP. Unfortunately you picked one of the worst weekends ever - with that board suffering from a load of drivel IMHO. I did the same when cf posted a while back. The GGP board however is so busy - it's incredibly hard to follow everything.

I saw one of the most valued posters Bamps21 sign off saying he had had enough - I am hoping he only meant for the weekend. Huge mining knowledge shared willingly with others.

Lupidog - great post in my opinion.
I too will be taking the vaccine as soon as offered. 59. Possibly had covid last January - all the symptoms, inc loss of taste and fatigue like I've never known - will never know. Was after a weekend away in a big city and loads pf public transport etc used.

Fira - sorry to hear that but glad you are on the mend.

I have been taking Vitamin D since last March. I think this is hugely important in the UK and would like to see the govt do more with this - we are all deficient on this in the winter.

Bamps21 - I know how you feel this weekend with all the non mining, non GGP stuff posted on here - but please continue positing here - your input is invaluable to a huge number of us - unlike a lot of the drivel posted here this weekend.

ISA - my first aim mining investment was in CNR - led there by Jim Mellon - been there a good while now - have never sold - although like many there regretted this at times - but have added recently and luckily have an average 30% below current price, and yes I am expecting good return from where there are now - my views on CNR are very similar to yours.
I have continued investing in CNR and GGP recently. However - Nicaragua is a higher risk country to invest money in when compared to Australia.

We have had plenty messages on here recently about what should and should not be posted. I'd rather have a serious share of sound advice about another good investment opportunity - although these can often be muddled with poor tips. I only found GGP as it was tipped on the SML board - and I do not recommend SML - sitting on a big loss there - but more hopeful now with Cornwall tin being highlighted that I may get my money back.

I have other smaller stakes in miners NSUP (TSX), OMI, UFO and XTR. I think these will do well for me in short term - but if they do I will take profits and probably reinvest here.

I'd be interested in this too.

Hydrogen - I thought - but may be wrong - that when they reach the top of the ore body, they have to take some samples for lab analysis, and uses these to ensure they have the correct processes required at Telfer, them complete the FS and submit all the info to the authorities to get approval to mine?

I hope you are correct - nobody would like to see quick production more than me.

Bamps, the currect decline goes to top of ore body, but when eventually underground mining starts - the real underground decline will have to be routed away from this one - as we will see the subsidence start immediately above the ore body? Maybe there is enough top cover for this not to be a problem?

For sure this year will have lots of interesting info and plans being released.

dictumdedicto - completely agree that when cash is raised to invest in hardware - although technically dilution - the value of the assets increase - it has a saleable value, but even more it steps us towards profitable production

Also I think the drilling Condor is doing I would not class as pure exploration - they are drilling in somewhere they know there is gold - currently to determine where highest grades are - but hopefully to prove up more reserves - which also increases the value of the assets

hoping 2021 will be very good for Condor

I think a takeover would be hard at a low price - too many shares in sticky fingers

Just want to say glad to see Cornishknocker posting on here again - brought so much to this board in the old days. Still reading and hoping for the best with SML. Maybe one day soon I'll be able to sell some shares without a very large loss.