Member Info for thelearner

I went into a Tesla shop in Washington in 2018. Model 3 was on display - blown away by it - glad I was not in UK or I would have bought one. I like Elon musk. Was going to buy Tesla shares years ago - wish I had.
I also think we will eventually end up with hydrogen fuel cells. Heavy vehicles are not going to have what they need on batteries. Trucks/buses will need hydrogen. If we have it for them, it will go in cars.

I have a diesel car. Currently doing 2 months to the gallon.

Well done DVH. I remember you keeping averaging down, I was tempted but thought I was in too deep already. You could almost sell some now for your holiday - except we cannot go anywhere yet!
I am really hoping that we get a favourable result from arbitration. I'd be happy with a long term contract - legally binding to buy more from Cobre - like they were supposed to. But a whack of cash would be better. Think if arbitration result is not good down we go again.
Nothing would give me greater pleasure than seeing this company succeed.

Is it DJ buying back in?

Newcrest only have first refusal on other GGP assets up until the end of the JV. Once the feasibility study is gone and they have their 70% - it's open for offers to anyone.

"During the Farm-in period, Newcrest will have a first right of refusal over the Black Hills (E45/4512) and Paterson Range East (E45/4928) licences. Additionally, during the Farm-in period and the term of the proposed Joint Venture, Newcrest will have a first right of refusal over those blocks within the Havieron licence (E45/4701) not included in the Tenement Blocks."

By the time we get to that point (I would say mid 2021 at the earliest, possibly later) - we will have a much better idea of MRE for Hav, and we will have put some holes in Scallywag.
The initial Scallywag holes will be the biggest factor in what NC do I think.
And offer of first refusal is on GGP's terms, if for example RIO made an offer for Scally - NC have to match it. GGP do not have to sell.

In the meantime, yes, NC could make an offer for GGP. GH would be the one who decides if the price is right. Or NC can start accumulating shares and trying a takeover that way.
The only thing for sure is there is an interesting road ahead. Much will depend on where GH sees the best value for Shareholders. Many would like a big quick return, many would be willing to be patient to get a bigger return.
We do not really know which camp GH is in.

I am also nervous about investing on TSX. I have posted this before here. I invested in a TSX listed cpy (Northern Superior) with HL. The company did a share consolidation and then also Northern Superior Resources decision to not renew their CREST position - which meant the shares became non tradeable, from Jan 19, until Dec 19 - a long time to be out of a speculative junior miner. I would not have sold anyway during the period while they were waiting on paper certificates to transfer to the new custodian, and now I can only trade these by phone.

Maybe some other brokers are better for ISA that can trade international markets than HL ? I also looked at buying some Artemis next to GGP earlier this year, but again HL do not have the option for ASX.

I can see your 20.15 post about mako mining on my laptop (chrome broowser)

https://mine.nridigital.com/mine_mar20/inside_block_caving_the_deep_mining_method_of_the_future another short but interesting article - block caving - high setup costs but operating costs appx 10% of conventional mine

I can see why a finite depth at offset might be desirbale due to the high cost, but maybe it can be extended deeper as Scheimel points out - I guess it depends on how much gold and copper there is at depth, and like many other things - technological limits keep being broken making the previously impossible possible.

Why would they say "open at depth" if they did not intend looking deeper - think we have only been down to about 1200m?

Yes - amazing what they do nowadays - but it is extremely expensive. Some North Sea wells I have been involved with - cost £140 million - one well - then you see what NC are doing with less than half of that.
When you are drilling at an angle (or deviated in my world) also the drill string weight makes it rub on the hole wall when rotating (except for the mud lubrication in oil drilling) - this also increases torque and drag.

Interesting presentation of life of Cadia drilling - think at end also shows the declines and the resource shape
https://www.youtube.com/watch?v=dB77ag0Dj1w be better if it had some commentary

Nice video about NC caving mining techniques https://www.youtube.com/watch?v=ePgCZ583Og4

Also interesting Rio Tinto video about underground mining https://www.youtube.com/watch?v=EGHfcRP-Vf8

No answers if the drill from different levels on the exploration decline though.

I have tried to find how deep they can go with Diamond drills - with not a lot of joy.
https://www.mining-technology.com/projects/cadia/ This article shows Cadia East was discovered under Cadia - and extends to a depth of 1900 metres. It's not clear if they managed to go deeper once they had already mined down to a significant depth.

I know a little bit about oil drilling. As you go deeper, the torque required to turn the drill increases, and so therefore the drill string needs to be stronger, which means heavier and bigger - so there will I imagine definitely be limits on what they can do with the quite small drilling rigs used in mining (in comparison to large oil rigs - I know there are also small shale rigs).
I am wondering if we will need the "Exploration Decline" built before we know how deep the resource continues to?

I know nothing about gold exploration drilling other than what I read. They appear to never drill straight down - and drill at an angle - and I imagine that is to get a good cross sectional picture of the gold/copper bearing mineralisation? The length of the hole, rather than the true vertical depth of the hole is I guess the limitation?
When depths are reported on the drill results - I imagine they quote TVD (true vertical depth) - and the length of strike would also be TVD? The report does not say - I'd be interested to know.

Could one of the reasons for the large step outs be to drill back towards the known mineralised area?
Be really interested to know this - have tried to find articles - but not having much joy - but time limited.

Feb 17 was my first purchase after watching a Jim Mellon video - price 69p. I kept buying during the ups/downs from 40 to 55p, then my last 3 purchases were 21/20/17p, Average is 31.6, 124K shares - currently very happy and holding.
What stopped me buying more at 20p was the potential political unstability in Nic. I have some concerns about Covid19 in South America.

Not sure I am going to have the nerve to hold them all - all the way to production, but we will see. Currently holding.
I am very happy for all the LTH who I have watched on this board since I bought CNR.
GLA

CountTheChickens
https://youtu.be/jFchxI2B7cg
I was sharing it with another GGP holder who does not come on here

Tester - just buy it - very cheap at £250

I was after a specific one for years - registered my interest with DVLA - changed internet provider and email address and missed the email telling me about the auction. For about 15 years I tried to find the owner to make them an offer. No joy, knew it was in England on a VW van. Then a couple of years ago appeared on a reg auction site. Cost me about twice initial auction price - but worth it for me.

WelshFalcon - excellent post - and that indeed is what I would wish for. To get maximum value for GGP we need to know how big Hav is and to get some drills in Scally.

I am happy to wait 1 - 2 years to get the maximum return.
Others have a different perspective, and would be happy with the large short term gain and then try and find the next golden rainbow. From 9p to 15p is a 66% gain. For me it would be another 220%.
My long term target - not really enough info to make a balanced judgement. I had a target of 10p by end 2020. I would now expect around 20p, but that is based on a bit of speculation based on the being open in several directions at Hav - and the good news keeps coming.
Good drill results is Scally - very long term we could be looking at 30 to 40p or higher.

However - there could also be bumps in the road ahead, market crash, gold price fall, who knows - but long term - great potential.

Simms45 - do you have a link to the SP Angel report - I looked on their website and could not find it - would make interesting reading

GH Interview - expect concept study and maiden MRE 2nd half of this year, followed by PFS at end of stage 3.

This is the start of a long process and a long journey, with a brilliant and excellent partner, world leading expert in block caving and underground mining, low capex project - no need to build a mine in a remote region

Project capex costs, would be loooking to borrow not dilute, maximise shareholder value, if the 5% gets sold to NC will bring in a huge amount of cash towards capex.

I am still listening but hugely impressed, but patience will be required to get max value for Shareholders IMHO

Stage 3 requires completion of the pre-feasibility study. NC are in a hurry to get through the JV stages. I think a Pre Feasibility study needs an MRE. I think that will drive when it arrives. Then it will continue to be updated as more info becomes available.
That's my take.

Stuart - I posted a couple of weekends ago about Cadia - the MRE was revised upwards as they continued infill drilling. I don't think it's at all unusual for an MRE to be updated.
The Pre-feasibility study will need something to be based on. Then the feasibility study would be dependent on a more accurate MRE is what I would guess.

Chippy, NC having first refusal on the other GGP licences ends when the JV at Haverion is completed. Well that's how I read the RNS, could be wrong.

Elise1 - did I also see you over on the CNR board with an investment there - I have been in CNR since 2017 - after seeing them recommended by Jim Mellon. Hoping the environment for gold also makes me some good returns on that one - I kept averaging down with that one - never lost the faith.

GGP - I think the future is very bright, and potentially extremely bright, but that really depends on what we find when we start drilling the other prospects.
Haverion has and will be great for GGP, I hope the drilling results show even more high grade gold deposits, we all do, but we are only going to own 30% of Haverion.

I worry when I see some on here posting Scallywag is going to dwarf Haverion - obviously I hope they are correct, but this is far from a certainty, and I cannot wait until GGP get some drills in the ground. Some good drilling results at Scally would give GGP 2 options.
Option 1 - negotiate a JV with a major, and let them do the exploratory drilling at Scally - but on much better terms for GGP than the Haverion JV. Good drill results and the hav discovery in close proximity should make this possible. But you have to give away a decent %. I do not think any major would enter a JV where they did not own >50% at the end of the JV.
Option 2 - sell Have to NC, and then drill Scally 100% owned by GGP - it increases GGP risk if the results are not good - but if we do find a huge deposit - absolutely game changing for GGP.

I am here for the long haul, my average is very good (2.7), I have averaged up a bit, as the price has increased, but that's it now.

I have 3 main AIM shares, and a few small ones. My other main is SML - sitting on a large loss - but a loss is never a loss until you sell. I pondered selling what I had in this - and moving to GGP at end of last year, I never - huge mistake on my part. But I still have a little hope for SML. I also bought some Shell earlier this year, missed the low by a lot - again would have been better in GGP but that's how investing goes - trying to have balanced portfolio and risk.