We would love to hear your thoughts about our site and services, please take our survey here.
Hi Tom, stepouts are testing depth as well- NW shallow, SW deep - so hopefully we see more but at some point rigs will hit their limit and then Newcrest has to decide on a decline to do further exploration from u/g. More stepouts to the south indicate Havieron is continuing deeper which is what we are all hoping for.
A bit unfair CB! Most posters here have already got 10moz in the bag. :-)
But you're right, the wider mkt in London/Europe is not interested although Willem Middelkoop owns 20+ shares in his fund and he has a nose for good speculative stocks.
Apologies, Artemis got 4 million Novo shares which it sold for $20m.
No cashflow from Havieron for another 4 (?) years, if it becomes a mine.
If you have time have a look at Cassini Resources SP over the past 12 months - CZI on ASX. It has a great 30:70 JV with Oz . The West Musgrave Project looks robust. A major Chinese battery maker took shares at 10c as did it's chairman (WMP is a Cu/Ni project) but SP today is 8c!
It's a tough time for juniors in the mining sector. Just look at the TSX.v. It's a disaster!
My consistent "opinion" has been "Strong Buy" and I'm sticking with it because Havieron is a compelling exploration story but us Greatland bulls have to be aware of the other side of the debate.
May we be blessed with a Newcrest update on Havieron soon.
Another reason is the company spend. It has too many projects and so there's a continual need for capital. It needs to get rid of smaller projects (it's trying to ditch projects in Tasmania), concentrate on the Paterson Range and find some different JV models. I've posted a few different ones. Talk to Novo and get a JV signed over Panorama. Look at what Artemis got when it signed a JV deal with Novo - $20m cash and kept 50%! Those days are gone but still Novo seems to have an endless supply of cash from crazy North Americans. Greatland can hopefully JV some of Scallywag after drilling half a dozen holes next year and then have a crack at the rest of its ground in the Patterson. It will still have 15-20 targets to explore!
Here's some bad news from the Patterson. It's not a cheap place to operate a mine. https://www.abc.net.au/news/rural/2019-11-26/400-job-losses-in-nifty-copper-mine-closure-metals-x/11738482
Compare "our' deal to this one. https://www.gfgresources.com/news/press-release-details/2018/GFG-Signs-Option-and-Earn-In-Agreement-with-Newcrest-to-Advance-the-Rattlesnake-Hills-Gold-Project/default.aspx
Newcrest are ahead of schedule since it will have spent $5m by year end.
BTW Adriatic Metals will join the LSE next month. Worth keeping an eye on despite the big run up in price. First mover advantage in Bosnia and we've seen the rush by majors into Serbia.
nothing new but nice article from Alastair Ford - https://www.proactiveinvestors.com.au/companies/news/907636/what-does-newcrests-ongoing-emphasis-on-exploration-at-havieron-mean-for-greatland-gold-907636.html
Bingo, you should look at PGs 3D model to see how the deposit looks. It is definitely not 1000m x 600m in plan view. Look here at Figure 2 - https://www.asx.com.au/asxpdf/20191024/pdf/449t5t2f4ccmgl.pdf
approx .2km Bing but it's where they are aimed that is more important.
PG, I think I see a new hole immediately south of the 3rd hole mentioned below. There is the line of 5 then to the south what appears to be another line of 4 (?). It's in between those lines so an infill hole looking at something. just a guess but looks like drilled to test the high grade east of the dyke between HAD17 & 18.
Thanks PG. From the extreme east I now count a line of 5 collars, incl. one site cleared not yet drilled, between the 3rd & 5th going from east to west. I don't see any other progress.
Those holes to the NW & SW really do stand out, quite a distance from anything else.
Just had a look at some holes announced recently from Regulus REG.v. - big metres, low grade.
Haha, just wasn't sure you guys in the northern hemisphere were necessarily looking at scale. Lots of stories of people going for a "drive" into the desert w/o realising how far it was between fuel stops. :-)
Looking forward to satellite images later on today.
this might shake things up! https://twitter.com/MacleodFinance/status/1197225339967160320
I haven't followed the SP closely but I don't recall such a tight spread - 1.65p bid, 1.66p offer.
What does this suggest? I would have thought it meant a very liquid market but volume today doen't suggest that.
Thanks, T
Exploration Discovery Award - and the winner is .... Adriatic Metals, easily. Look at the scoping study released yesterday. (ADT is at stand D11 in the Exhibition Hall. )
But, hey, making the list is impressive. Well done management. Perhaps next year when we all know the size of Havieron. 2km deep cylinder grading 2g/t Au!