Member Info for TimberTrader

Oz miner's taking a bit of a hit today.

Newcrest Mining currently down 4.0%
Artemis currently down 17.6%
Antipa currently down 9.5%

The most hotly contested category was Explorer of the Year, where there were nine nominees.

The winner was De Grey Mining's Hemi discovery, which has transformed the once-struggling explorer into a billion dollar company.

The Hemi deposit is seen as having the potential to hold more than 5 million ounces of gold, which would make it Australia's most significant new gold discovery since Gruyere.

In second place was Chalice's Julimar project, a first-hole discovery that has opened up a new WA mineral province.

Newcrest Mining and Greatland Gold's Havieron gold-copper discovery in WA's Paterson Province and Alkane's Boda gold-copper porphyry discovery in New South Wales were equal third.

https://www.miningnews.net/event-updates/news/1392778/mnn-awards-winners-announced

No worries! I had to double check myself. TT

https://www.telegraph.co.uk/global-health/science-and-disease/coronavirus-news-uk-cases-deaths-update-local-lockdown-latest/

Case emerges at second mine in Papua New Guinea
Covid-19 cases have emerged in a second mine in Papua New Guinea, after an employee at the Lihir Mine owned by Newcrest Mining Ltd tested positive for the disease.

The 30-year-old male, who flew in from Port Moresby at the end of July, is among 26 confirmed cases reported on Sunday by the National Pandemic Control Centre in the capital Port Moresby.

The island nation has now reported a total of 214 coronavirus cases and three deaths.

The Lihir mine case was detected during a routine screening process for all incoming workers who have to observe a mandatory 14-day quarantine period upon arrival on the mine site.

It comes after PNG's Ok Tedi copper and gold mine suspended operations for at least 14 days from Wednesday, after seven workers tested positive for the novel coronavirus.

While the number of cases in PNG are still low compared with many other countries, they have jumped sharply over the past few weeks.

"This is a critical time for all of us," National Pandemic Response Deputy Controller Paison Dakulala said in a statement.

PS/NB: We are 9 hours behind PNG & AEST, so the Sandeep Biswas NCM presentation is scheduled for 00:30 AM here on the 14th August.

You can register here if you wish:

https://edge.media-server.com/mmc/p/ygvpt345

Countdown...

https://www.pngreport.com/mining/news/1392609/newcrest-full-year-results

Thank you Tom. Agreed1

Like I'm going to base my research and GGP sp rating on Clayton's view? LOL!

The latest GGP sp official broker rating, to my knowledge, was Numis @ 15p!

Where did an 'unrisked' 28p come from?

Why forgive you? Please advise napthman1 which broker gave that rating, and when?

I kind of disagree. It really depends on what Motley Fool country site you look at, at any particular time.

I completely agree that the UK site has been very much a YoYo story on GGP, for years now, and I've posted many pieces here, but, funnily enough, when they are largely pro GGP it largely gets the 'thumbs up' from LSE GGP forum poster's, but, when it's even slightly negative, a lot of poster's moan. Hey, let's be honest here, is that any surprise anyway, whatever you post here, TBH?!

You really can't win! Just like any negative, or even slightly negative post on this forum, it's usually met with derision, and sometimes abuse and/or filtering from those that have always believed that they 'own' the forum.

That all said, the Motley Fool Oz site is actually pretty good, IMHO. Just as one example, they posted some of the recent UBS Broker Newcrest/Havieron rating/sp note comments, which were not available elsewhere, and I won't knock them if they give me useful research information which isn't available elsewhere.

GLA & DYOR

TT

PS: Ignore the last sentence, which was of course about Scallywag and was a cut & paste I should have removed. :-)

Just for information, in case anyone missed the actual last advice we had about the proposed drilling program, GH stated in the Proactive interview on the 23rd July that after the Scallywag drilling, which they hoped to commence in 2-3 weeks time (with preparation work already underway)...

"...Then we'll wheel the rig up to Patterson Range East and then potentially down to Black Hills."

Preparation work already underway.

Not specifically about Newcrest/Havieron, but Ausquest (AQD) is mentioned as yet another operator in the Paterson, and includes a wider scale magnetics map of the area...

"Ausquest is a prime example of investors piling into a stock in the expectation that drilling results could be market moving.

The company informed the market on 16 July that drilling had been approved for its Gunanya project in the Paterson region of Western Australia, followed by a drilling update on 21 July, with the latter outlining the highly prospective nature of the region where Rio Tinto and Newcrest have both had success.

Ausquest’s shares subsequently spiked 80% in just over a week without the drill bit even hitting the dirt.

It is worth noting that blue-chip mining group South32 (ASX: S32) is funding exploration work at Gunanya

The Gunanya Gold-Copper Project is located about 250 kilometres north-east of Newman within the Paterson Province of Western Australia.

It consists of one Exploration Licence covering an area of 450 square kilometres.

Exploration is targeting large scale gold-copper mineralisation similar to the recent discoveries at Winu (Rio Tinto) and Havieron (Newcrest joint venture).

These recent exploration breakthroughs have significantly enhanced the gold and copper pedigree of the Paterson Province, which already hosts the large gold and copper deposits at Telfer (Newcrest) and Nifty (ASX: MLX), and is widely regarded as one of Australia’s current exploration “hot spots” with activity levels continuing to ramp up."

https://finfeed.com/features/look-beyond-gold-price-part-3-finding-value-high-flying-gold-sector/

Paddy, you know were I've always stood on the "at depth" huge possibilities!

Slainte, GLA & DYOR!

Indeed! A massive change in just 12 months and it'll be very interesting to see how the language and coverage changes next week! GLA & DYOR

In looking forward, it's sometimes useful to look back...

Last year we had the following:

Full Year Results FY19
16th August 2019

“We continued to invest in growth during the year, gaining exposure to another operating asset, the Red Chris mine
in Canada. Our plan is to improve the current operating performance and, subject to drilling and further study,
transform Red Chris into a Tier One operation by means of block caving. We also gained access to a promising
prospect in the Havieron deposit which, subject to drilling and further study, could considerably improve the
profitability and extend the life of Telfer....”

...First drill results from the Havieron Project in Paterson Province Western Australia have confirmed the presence of
higher grade copper-gold mineralisation, with best results including 17m @ 21g/t Au and 0.39% Cu from 1,153m
(HAD006 extension).

https://www.newcrest.com/sites/default/files/2019-10/190816_Newcrest%20Full%20Year%20Results%20-%20Market%20Release.pdf

Newcrest Briefing Book
16th August 2019

Havieron – Opportunity for Telfer
• Farm-in agreement on the Havieron tenement
with potential to deliver high grade ore feed to
Telfer
• Newcrest to manage the exploration program
• $5m minimum commitment over initial 12 months,
with potential to earn 70% JV interest through
expenditure of $65m over a 6 year period
• Option to earn an additional 5% interest at the
end of the farm-in period at fair market value
• If successful:
• Ore to be trucked to Telfer for processing
• High grade ore could extend Telfer’s life and
lower its production cost per ounce

https://www.newcrest.com/sites/default/files/2019-10/190816_Newcrest%20Full%20Year%20Results%20-%20Briefing%20Pack.pdf

FY19 Presentation
Sandeep Biswas

Havieron: Presence of higher grade copper-gold mineralisation confirmed.

Successful development of the Havieron deposit has the potential to materially improve AISC margin and mine life at Telfer

https://www.newcrest.com/sites/default/files/2019-10/190816_Newcrest%20Full%20Year%20Results%20-%20Presentation.pdf

Indeed! We'll take it as it comes, provided we don't get any weird scenes inside the gold mine! TT

https://finfeed.com/features/look-beyond-gold-price-part-2-gold-copper-projects-outperform-pure-gold-plays/

Tribeca Global Natural Resources is betting the gold price rally has a "long way to travel" and is backing Newcrest Mining, Saracen Mineral Holdings and Westgold Resources as the precious metal smashed through $US2000 an ounce for the first time.

The fund manager has 30 per cent of its portfolio invested in precious metals because it believes gold will continue to benefit from the massive stimulus unleashed by the world's central banks to combat the economic hit of COVID-19...

...Among the gold miners favoured by the fund manager is Newcrest Mining, Australia's largest listed producer.

"They're actually starting to deliver some pretty exciting results out of an exploration prospect up next to their Telfer asset in north-western Australia, and they're also delivering some fantastic results out of their Cadia asset in NSW."...

https://www.afr.com/markets/equity-markets/newcrest-saracen-set-to-ride-bullion-s-bull-run-20200805-p55ime