Member Info for TimberTrader

MT Survey = Magneto-Telluric Survey, as also mentioned by Bamps earlier today.

Thanks Bamps! TT

Hi Bamps, Yes Canning is an interesting one. It's my understanding that those tenements are not yet much explored, but, interestingly, in 2017, Fortescue drilled to the south, and hit some mineralisation. I'm guessing that they may have now shared that information with us? Yes, and looking forwards to the magneto-telluric survey results too. TT

Exactly!

I'm sure that I'm not the only one that doesn't quite understand why so many people are clueless about mining and exploration, and the time it takes, in the vast majority of cases to, hopefully, hit a 'sweet spot'. The moaners are usually the one's just after a quick buck, nothing more. Their choice, and i have no issue with that, but, we can also always recognise their usual tactics!

Havieron was first recognised and drilled by Newcrest Exploration for 12 years, between 1991 and 2003 with most holes displaying alteration and low grade anomalous gold and copper mineralisation, until we came along and hit that 'sweet spot'.

As des says, "Rome wasn't built in a day".

HaHa! No surprise! The usual suspects, and no doubt some new, are out again this morning!

Just look at their past GGP posts, to see where they're coming from, again, again.....!

Agree LL. I've always, best estimated, 9-10MozAuEq, and have no reason to change that now.

...Clearly, not for much longer though!

Https://www.postcourier.com.pg/newmonts-acquisition-of-newcrest-doubles-their-exposure-to-copper/

Hi Redirons! I'm replying to the OP about the 'expectations for the updated Mineral Resource Estimate coming out in the next weeks', not the 'priced in' query. TT

IMHO, expected 100%

So it would appear, at that time (maybe crucial here, IMHO) that the geologists felt that the first results were not economicaly viable (as Archer implies), and, as Hanneson & Baxter also mention, at the time, preferring to concentrate on shallower targets, until we, of course, had the balls to drill deeper.

"The first of the historic holes HAC9101, which seems to have been directed into the magnetic peak, had the potential to make the discovery had it been drilled deeper. A similar comment may also pertain to the second hole, HAC9201, but how these holes were designed is unknown to the writers. The remaining four historic holes seem to have been designed based on a different philosophy, or perhaps a different modelling algorithm, but they were ineffective- missing what the present model deems to be the primary target." (Hanneson & Baxter: 'Discovery of the Havieron Gold-Copper deposit, WA')

A very interesting read, yet again, from Charles Archer....

Including....

"....On this last point, don’t blame the exploratory team when they find nothing. As an example, the first team to have a crack at the tenure where Havieron was found by Greatland Gold came back with dust. While some teams have more luck than others (read experience), the truth is that there is an element of chance."

https://www.share-talk.com/assessing-a-junior-resource-asset-your-how-to-guide-in-5000-words/

Why?

OK, just to add some more research. These are the stocks that Mr Mellon, specifically, on 'Master Investor' cited as 'priced too highly' in February this year, and in comparison to their price now:

Tesla - UP c.19%

Amazon - UP c.50%

Meta - UP 93%

Alphabet - UP c.41%

Oh dear, oh dear!

IMHO, my 10 year old niece, blindfolded, pinning the tail on a donkey, would do better than Mr Mellon in investment terms!

BTW, If you want to read the pointless post yourself, here it is:

https://masterinvestor.co.uk/economics/mellon-on-the-markets-21/

As I mentioned earlier, all you need to do, is to read the post on 'Master Investor' from Mr Mellon, back on the 16th February 2023, to see how pointless these people are! Mellon posted:

"Although there has been a heck of a bounce in the tech sector in the past six weeks, the tech wreck has further to run, in my opinion, and this might be the last chance saloon for those clinging on to the old FANG names, as most of them are going ex-growth and are still priced too highly. Yes, the old favourites like Tesla, Amazon, Meta and Alphabet are not through fighting the bear, but merely enjoying a brief ceasefire."

Sadly, Mr Mellon was out by over 20%, because the Nasdaq has moved north from 11,855.83 on the day of his post above, to 14,403.97 this week! So thats just over 21%!

All of the tech stocks that Mellon cited in his post have moved further north!

Do I need to say more?!

DYOR & GLA! TT

Is that the same Jim Mellon who said, back in February, to avoid tech shares?

"Although there has been a heck of a bounce in the tech sector in the past six weeks, the tech wreck has further to run, in my opinion, and this might be the last chance saloon for those clinging on to the old FANG names, as most of them are going ex-growth and are still priced too highly."

They also imply that the value of the gold at Havieron is based on the gold price, which can change?! Really?? They then go on the state the reasons why it may fall, but then don't mention the reason(s) it may rise, in exactly the same way!