Member Info for Timid

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

Spurs moves at a faster pace - Poch out at breakfast, Mourinho in for dinner.

Mill feed for Telfer in 20 years time! Havieron is glittering with gold.
Scallywag to show itself in 6 months time.

mickey, need an emoji to indicate ...... sarcasm?

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!

Good report but just so it's clear - this report was paid for by GGP.

Thanks for the clarity CB! There's gold in them thar hills! I'm happy to leave it in Newcrest's capable hands. We're on a winner and sometimes the mkt is just too cautious to price in what we think is obvious and needs its hand held. Today's action in Adriatic Metals - ADT on the ASX (soon to list in London!) - is a case in point.

Yes, I get that and held that view until I read thru what Newcrest was actually saying, which is pretty clear, see top of P.2 https://www.asx.com.au/asxpdf/20191024/pdf/449t5t2f4ccmgl.pdf
Mind you I have no idea what NCM means by high grade as it hasn't stated it but it seems to be referring to the at least +2g/t Au equiv. cut-off which might mean 3-4g/t ave. And I have no idea how geos track the HGZs when drilling.
I have no doubt NCM will mine it all one day but who knows how. No geotechnical work has been done yet as far as I know.
It would be great to have geos, mine engineers etc on this site to comment.

Not sure I like the 1.3g/t ****e. Newcrest targeting 3 or 4g/t ore? That would save $s on mining & transport costs.

At end 2018, the Super Pit had a mineral resource of 273 million tonnes grading 1.3 grams per tonne for 11.7 million ounces.
Included within that amount are reserves of 193Mt grading 1.2g/t for 7.3Moz.
Saracen will outlay $1.1 billion to acquire a 50% stake.
Good see I was in the ballpark for Havieron valuation - lower $100, upper $200. Now everyone can do their own valuations on Havieron. I think some people are too optimistic thinking this name will get to 10p with the next couple of years. But hey, 7.5moz valued at AUD200/oz gives a SP of 6.75p. Sounds good to me!

Haha chartbuster, love your reply, straight to the heart of it - "it's only just begun".
And I agree with "this is the fun bit mate".
The next report from Newcrest is going to provide a lot of entertainment!

Spratt1982 I think it's because Havieron is not a homogeneous deposit and Newcrest wants to define where the high grade gold zones are. Rather than 30 big stepouts holes showing what's there, Havieron looks like it requires +100 holes according to SB's 9-12 month timeline. So the pattern in the SW might be, drill 1 or two deep holes to locate the cyinder as it plunges SE and then closer spaced holes once its located. That seems to have been the pattern up to now. The same thing seems to be happening with the new holes in the NW.

Besides the gold I'm hoping to see a significant increase - >1%Cu - in these latest holes which appear to be going ~2km deep. In some styles of mineralisation you'd expect the gold grade to drop and copper to increase as the oerbody goes deeper. I hope we are lucky!
BHP reported some spectacular results from some deep holes in SA last month. I know it is an IOCG whereas not sure what Havieron is. https://www.mining-journal.com/copper/news/1373754/bhp-quietly-reports-strong-oak-dam-results

Yes PG, you & strudel are probably much closer to the truth. There looks to be a major fault line to the south in that image and some other structural controls I assume is meant by the broken lines. The gold had to find its way up somehow.
Scallywag looks enticing!
Looks like excitng times ahead, short & long term.

Looks like Newcrest drilled HAC9501 years ago in exactly the opposite direction to these new holes in the SW. No data is ever wasted!
https://greatlandgold.com/wp-content/uploads/2018/06/HavHistMag-20-06-18-v2.jpg
One thing I'm interested in Newcrest commenting on is whether it thinks there is higher grade copper down deeper. It would be nice to see copper hitting 1% in these deep holes and the pipe start to broaden under the heat and pressure from below. Happy elephant hunting!

Not my view Caveman, just reporting what I see around me. I'm agnostic to the wider market as I am here for an elephant hunt and the rest is just noise which I ignore. If gold gets to $1900, fantastic, but equally if it falls to $1200, it doesn't matter, as I'm here to see if there is something big at Havieron and also at Scallyway. All those fault lines are conduits for the gold which is down there deep. It just a matter of how any mineralising events there were and where did the gold flow too. Clearly multiple events at Havieron led to these HGZs that Newcrest is chasing.

Thanks Paddy. If my "wine bottle" anology is correct then it will be interesting to see in which direction those two SW holes are being drilled, E/W , or the way those two collars are relative to each other, WNW/ESE in which case get ready for some long sections of mineralisation. Can anybody say if the two features also running WNW/ESE are fault lines? That will throw a cat amongst the pidgeons.

Hi YL,
It's not about the SP but the mkt cap.
The sector is suffering badly, sentiment is poor for juniors and many experts tipping a mkt crash .

JS,
All quiet, no chatter on a non-trading day so thought I'd post again! :-)
19 Nov, 2018: Greatland announces drill hole HAD005 intersects total mineralisation (combined intercepts) of
275m at 4.77g/t gold and 0.61% copper (275m at 5.75g/t gold equivalent*)
Compare this to the Fruta del Norte discovery hole discussed here from 1 minute 25 sec - https://www.youtube.com/watch?v=2X-ClHT-moI NB. It was the 51st hole drilled!
Guess who bought into FDN? https://www.miningglobal.com/investing/newcrest-mining-invests-250-million-lundin-mining-fruta-del-norte-project
FDN is a breccia pipe, only ~18mt but has an excellent grade of ~9g/t au for 5moz. It is an epithermal deposit unlike Havieron.
Newcrest is bringing a lot of knowledge to this project and is chasing high grade zones. Forget about the size, feel the quality! Can Newcrest find 50mt at 4g/t Au? That's ~6.5moz. So far 4 high grade pipes found inside a low grade envelope.
A lot of info on FDN here https://miningdataonline.com/property/2968/Fruta-del-Norte-Project.aspx#Reserves

A bit more fun
Saw this Jerry - https://www.mockupworld.co/free/wine-bottle-with-label-mockup/
Vertical, plunging to the SE! That's something like what Havieron looks like down 400m in the Paterson Range, a buried wine bottle! The cap is up towards the Havieron camp . You can see why HAD 15 went underneath any HGZ - it needed to hit between -300 to 600RL - and HAD16 missed altogether. You can also see why those new collars to the NW (shallow) & SW (deep) make sense.
I hope that helps.