Member Info for Timid

Hey Cookie, Alpala requires a certain type of player. BHP is there because it is big. Newcrest has a seat at the table because it is a world leader in the type of mining technique likely to give the best OPEX.
I agree with addicknt that Cascabel will end up with BHP & Newcrest but whereas addicknt thinks BHP won't work with anyone I think otherwise. My guess is SOLG could not find anyone else to cough up $22m. What does $22m buy? Not much, about 6 months. Both BHP & NCM know enough to make a move at any time. I think they are waiting for Nick Mather to submit. He has put up a great fight but the end is nigh in trms of cascabel. Of course SOLG has a bright future apart from Cascabel.

A lot of b/s being written here. RIo is not interested in this project. Cornerstone has no long term interest in SOLG or Cascabel - " Cascabel is the type of asset that will end up under the control of a major mining company". See Slide 14 here: http://www.cornerstoneresources.com/i/pdf/Presentations_0919_CRICorporate.pdf
"No one has a right of first refusal or other pre-emptive right on Cornerstone the listed company - Any buyer of Cornerstone would simply step into our shoes with the carried interest". Slide 13.
BHP will quite happily work in a JV with Newcrest. Its only insistence will be on being the operator e.g. Escondida.
Sit tight, be patient.

Shares of Newcrest Mining are unlikely to hold on to their current premium as cash flow is consumed by capital investment and earnings falter, Macquarie says, lowering its target price by 26% to A$23. That implies further downside to the current A$30.63 share price even after the 12% decline so far this quarter which has eaten into 2019 gains. Approval to expand the Cadia mine in Australia heralds a decade of projects Macquarie estimates could total US$10 billion. While Newcrest's balance sheet capacity can handle that, Macquarie notes earnings are set to decline as production at Cadia falls and cash flow goes toward projects.

BTW, look at Slide 14 -http://www.solgold.com.au/wp-content/uploads/2019/11/SolGold_Corporate_PPT_Munich-.pdf
Replace Imperial Metals (deal done) & Solgold with Newcrest and you get the picture! Newcrest sitting pretty on some assets that align with its block-caving expertise and stated aim of looking for deep orebodies. And then there's exploration in the Patterson Range in JV with Greatland Gold but enough said about Newcrest. It's coming, just like winter. :-)

Does BHP have technical staff who can help at Cascabel? Who cares! That's not the basis for Newcrest making a bid! Cascabel is an inter-generational asset that WILL be owned by majors. Who knows how it will play out but management at Solgold, BHP, Newcrest & Cornerstone know how to value this project and they won't be using the current market price as a guide! BTW, $22m pays for a lot of drilling at Cascabbel in the next six months. Have a look at all of the targets at Cascabel on slide 13 http://www.solgold.com.au/wp-content/uploads/2019/11/SolGold_Corporate_PPT_Munich-.pdf

jamesl91 Adriatic worth following when it lists on LSE next month.

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

My guess is 3p in May, 2020 based on Dec 19 & Mar 20 quarterlies. Newcrest should have announced 50+ holes by then. ~100% return from here is not too shabby for being patient for 6 months.

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

whoops 1.2km

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.

In a straight line that Encounter ground is ~500 miles (~800km) away from Telfer.

this might shake things up! https://twitter.com/MacleodFinance/status/1197225339967160320