Member Info for Timid

Funny but unfair Jerry. I've met Brent, had a few beers with him. Nice guy. Knowledgeable.

What's the agreement re toll treatment? I don't see why Newcrest has to pay full price because it owns Telfer. It's mutually beneficial so I'd expect an in-ground valuation of $100-200/oz Au discounted for CAPEX. Who knows how much that would be.

BTB there is no 3rd party!
TomE I didn't say it would happen but a 60% premium is no joke!
Just wait for 1st hakf 2021 to get taken out at fair value. The beancounters will be happy to pay up because they will have their set of pretty numbers!

Big hitters e.g. RIO won't want to play 2nd fiddle to Newcrest which could offer 3p now and the party would be over. But it won't. Beancounters control the meta-narrative and will wait for hard numbers. No point risking your career!

Block cave mining techniques
https://www.srk.com/sites/default/files/images-20181122/North_America/Newsletters/56-Caving/caving-56-letter.pdf

Jerry, I have many ex-clients (I'm retired) who would dispute your assessment! :-) But thank you!
I can see GH & CB watching the temperatures at Telfer in late March ready to pull the trigger on drilling at Scallywag as soon as is reasonable from an OH&S point of view.
More images from Paddy, a NCM qrtly at the end of Jan , a ramp up in the no. of rigs at H, Sandeep Biswas cracking the whip, it's all happening as Bill Lawry was fond of saying. (If you were into cricket a decade ago.)
BTW Paddy, you might have to take out a loan and bring forward all of your planned purchases over the next 5 years.
If only I could convince my wife to sell the house!

I was shocked by the timeframe of 10+ years in one of your posts. (Say 2 more years of drilling and 8 years of mine development.)
But it got me thinking that it then makes sense, at least from GGPs point of view, and continuing with the monetizing theme, to maximise drilling for size in the shallower (NW) part of Havieron if it is indeed that case as CB said that it would be mined in two stages (at least) of 500m each. Get the stuff that will be mined first defined because the deep stuff will add little value in discounted cashflow valuations.

CB, we are just quoting Newcrest on what directions are still open.
Yes, I have asked about faulting here but no one has been able to say anything and nothing reported in the drilling thus far indicated local faults.
I did ask about the ESE to WNW features on the satellite images but apparently that is more likey vegetation/creek beds.
Anyway, enough tonnes being suggested at Havieron to keep everyone happy and lots of interest in what may be in the NW.
Cheers,
T

Jerry, 1st bought here in 2011 then over time sold or switched to Cornerstone. I thought Newcrest would have agreed a deal with CGP re Cascabel by now so I'm wrong, again!
I'm going back into the mkt on TSXV!

Fancy meeting you here!
I just did a valuation on CGP using the SOLG SP. CAD4.65ps. Current SP $2.25. Go figure.

Hi Ruprah, my answer is that, at a guess (& that is all it can be) 95% of fund managers worldwide who have a mandate to invest in this space will have rules precluding them from investing on AIM because of lax listing requirements. Read the AIM listing reqirements and ask yourself this question. "If I had the responsibility of investing other people's money, would I take the risk of an investment going pear-shaped, losing my reputation, probably being dragged thru the courts for knowingly investing in a market with lax reporting requirements etc?"
As much as GH has been reported as saying he is meeting with instos I bet their feedback is list on a more reputable mkt.
A second issue for fund managers is how to get set for volume. while the number of shares traded each day looks impressive the dollar value isn't all that great. If GH isn't going to be issuing more shares then fundies will go elsewhere. There a lots of opportunities so don't think Havieron is the only game in town, although it is a very attractive asset.
Just MHO. :-)

correction:
SE (bottom)

Hi thirdman, since Paddy is probably asleep I'll answer. Take a look at Fig. 1 here; https://www.asx.com.au/asxpdf/20191202/pdf/44c5tvdq9xcmmw.pdf
Conservative footprint east/west is ~300m & north/south ~400m.
Apparently everything is closed off except to the NW and at depth. Remember Havieron is (approximately) a vertical cylinder trending from NW (top) to SW (bottom).
So you can see why Newcrest is now reorienting drill holes to a SW/NE direction as some on Twitter correctly predicted.
What we want to know is what happened to the mineralising fluid when it came to surface ( at what is now ~400m below cover) and so we should see holes appearing on Paddy's satellite images trending in that direction. If they keep going NW towards Scallywag then it may be indicating a huge system.
Because I'm an amateur, the one question I've got is why hasn't geophysics been more clearcut about the NW trend i.e. the gap to SW, so I'm hopeful not expectant.

SB, you are going to have to vote in new management at the next AGM because it seems clear GH et al are wanting their retirement funded via a lump sum payment not a drip feed of divvies!
I've changed my view on NCM buying 100% of Havieron post Jerry & others reporting. If it is made clear to the market that it is a friendly deal then I can see GGP accepting an offer and other junior exploration companies not being put off.
So whereas I was thinking there was a long wait for the endgame I'm now anticpating deal done by 1st half 2021 so will buy more! I think the key milestone is an MRE as I doubt NCM cares about PFS/FFS etc. in order to justify purchase since it can fund internally but still needs some basis for a valuation.
A dozen rigs drilling across Havieron & SW by Easter next year - woohoo!

Jerry, thanks for all your comments.
"Monetization" seems to be a theme. Stopping at 1400m is a guide. GH: "The Havieron footprint is larger than we thought". Promoting Scallywag indicates intent.
So while investors inside the bubble increase in confidence the mkt retreats!
Now we know more the stepouts NW become more critical to increasing the number of ounces.
I don't want to blow an even bigger bubble but if the footprint at contact with the cover at ~400m depth is at least 300m (seems to have been a constant for a while) by 400m (growing & what GH is referring to I think) then assuming an average grade of 2g/t Au equiv there's 23moz giving GGP ~6moz assuming NCM buy an additional 5% to end up with a 75% stake in the JV. What are we missing? Need some devils advocates!
I guess this will play out over the next 6-12 months. That's a small window for exploration at Scallywag.
At least mangement has skin in the game.

Yes, we really need to hold on to 100% of Scallywag as long as is sensible. A repeat of Havieron, 6-10 holes in each target plus a huge slice of luck followed by a bit of flirting with RIO but keep Newcrest honest re next JV!

"6 rigs now will certainly increase from next March or before"
Paddy's satellite images are going to light up in the new year!
$10m is going to be spent in a flash. This exploration program is going from turbo-charged to rocket-fuelled!
Sandeep Biswas will be a hero for saving Telfer and we'll walk away with a fortune to spend on Scallywag etc. Is that the future?

I like that mickey! Didn't think of it like that. 10 times from here is a couple of million bucks. :-)
This year it was Adriatic Metals. Next year Greatland Gold.
If you want a 50-1 shot have a look at PolarX - PXX on the ASX. Two big porphyry targets in Alaska. 7.5% there too!
All the best!

PG, Callum Baxter is totally useless. He should be explaining likely controls to the system, how the mineralising fluids were mobilised, what caused the gold & copper to precipitate where they did etc. I'm not a geo so I'm sure there are more things that he could tell us to help us understand what is happening on the ground. What happens when Havieron tops out to the NW. Does he think it could continue as a sub-horizontal orebody? What stops the mineralising fluids from running along what would have been the old surface? What limits mineralisation at depth? Maybe he doesn't know. Perhaps he thinks RI are too ignorant . Other companies I own educate their shareholders. For example, check out Aurania Ltd.
Perhaps Chartbuster can help with interpretation of what data is available.
GGP is about 7.5% of my portfolio. I'd buy more if I could understand more but ATM it still feels like a big bet!

Callum gushing like a schoolkid! GH trying to stay calm and not interject. Listen to him explain Havieron from the 5 minute mark. It's important if you're trying to understand what is happening now at Havieron as Newcrest understand more about the system.
Bigger footprint, trending NW, Newcrest changing the orientation of holes. Everything pointing to geos getting a good handle on things and full steam ahead!