focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GGP/14278170.html
Do some funds e.g. Blackrock have a mandate that precludes them from investing in AIM stocks? I'm a complete novice wrt to AIM. I did own shares in SOLG but can't remember if the SP ran hard after transferring to the main board. Could be few coincidental events happened e.g. drill results.
3-4 years until Telfer runs out of ore so it's already a tight timeframe to development which is why Newcrest is fast-tracking Havieron. I just don't see any chance that there wil be a discovery of sufficient scale anywhere nearby to present the threat you are worried about. Telfer needs huge amounts of ore every day . A 10 -20 mt tonne discovery isn't going to cut it.
The stepouts east & west no doubt targeting depth extensions as holes already suggest an east-west orebody ~300m across. Greatland geophysics identified 300mx300m plan view sub-vertical anomaly plunging SE. A few drill holes north & south extending that direction would be good. The two lines that have been drilled are about 100m apart - section lines 75977650mN & 7597750mN and a couple of holes (HAD010 & 011) another 100m south. So seeing what's further out would be great to start to see potential size. A deposit 300m x 300m and 1km deep is about 275mt so well on the way to my target of 500mt. That's just my guess at what Newcrest might be looking for in order to start mine development. 25mtpa ore production gives a 20 year mine life which should easily justify CAPEX for a deep mining operation.
Ppl have posted various ideas here re Havieron. ATM Havieron starts from 400m deep. One option for mining is block cave method at which Newcrest or world champions! Poster have commented on OPEX at Cadia. That is a good example. Unfortunately those poster don't comment on tonnage - over 2bt! While head grades at Havieron - Cadia <0.5g/t Au - are better there will be dilution so what we are looking for in these next holes from Newcrest are indications that Havieron has decent grades but also the chance to be a big - >500mt IMO - orebody. The thing about BCM is that there is a significant upfront cost because a shaft has to be built that goes to the bottom of mineralisation. Per Paddy's maps, Newcrest has made some big stepouts east & west. Let's hope it is not only targeting depth extensions but also some strike length north-south.
There's no chance of GGP selling down further. Either NCM spends USD65m and Havieron is a Tier1 asset or it's uneconomic because it's too deep. At say 2g/t Au & 0.5% Cu Havieron will need to have a lot tonnes, >250mt? It;s going to take more than 20-25 holes to indicate if that is likely. I think it is entirely possible but we'll just have to be patient while Newcrest probes away. No doubt PG will keep us abreast from time-to-time with NCMs progress via his wonderful satellite images.
At least three more years of mine life at Telfer.
"As previously announced, Macmahon plans to continue to perform its Telfer contract responsibilities. The contract is set to run until January 2023."
https://www.australianmining.com.au/news/macmahon-confident-of-resolving-telfer-dispute-with-newcrest/
Hey Stout, on this map from Newcrest you can see that it has helpfully made the grid 300m by 300m spacings. This is helpful because Greatland had previously described Havieron in plan view as a 300m x 300m (previously 600m in an earlier RNS) anomaly. https://greatlandgold.com/wp-content/uploads/2017/06/Havieron-Drill-Hole-Locations-092019.jpg
Make up you own mind on what the drilling suggests but if it is 200m x 200m and let's go big and assume has depth of 1000m then the orebody is 120mt. Not a bad start.
Those extreme holes east & west suggest drilling is going very deep. Previous Greatland gravity & magnetic surveys indicated Havieron anomaly went beyond 1200-1400m depth, plunging steeply to the SE. This could be a monster with very good grade which is what is needed since there is about 400m of cover before mineralisation starts.
NCM is smashing out 1000m deep holes at Havieron with 5 rigs, so lots of drill core to report on in the quarterly report. Sandeep Biswas has created a lot of interest worldwide with his bullish reference to Havieron at the Denver Gold Conference recently.
Greatland thought Havieron was roughly a cylinder that plunged to the SE beyond 1200-1400m depth. Is there further interpretation by Newcrest? I guess it is doing DHEM in each subsequent hole to learn more about this monster!
risehall1 you must be a party animal because this party is going to last a long time if you start now! 1000m holes don't get drilled o/n. 50m p/d so 20 days and then prepped in the core shack and then sent over to Telfer for assaying so maybe early June. Enjoy the party. :-)
NCM starts drilling Havieron next month. JORC is a couple of years away, surely. The target is at least 650Mt. Whether it is all mineralised is another thing but it will take a couple of years and GGP has stated that it does not know where the bottom is at Havieron only that it is at least 1200-1400m deep (from surface or 1km from the top of the orebody). I think in the video GH says drilling at both Scallywag & BH starts next month.
Depends whether you are using “proven” in a technical or non-technical sense Tom-vast. Proven normally means close-spaced drilling that can be relied upon to design a mine. Yes, it has been proven that there is mineralisation at Havieron but how much is there, at what grade, what depth etc. Then there’s metallurgy etc that goes into deciding if the orebody is economic.
Good morning Tiburn, my guess is 200,000m of drilling. Last year GGP said the Havieron target was in the order of a billion tonnes. That was down to a depth of 900m and since then the company has said Havieron is 1200-1400m deep depending on whether it is looking at gravity or mag surveys and latest downhole logging has probably increased that even more. So a good comparison for AIM investors is Solgold and the drilling done at Alpala to get to the 2nd MRE.
Okay Morningsun, to be pedantic I should have said " if in fact there is anything at Havieron to mine". I thought that may have been at least implied. I have read all of the NRs going back over the last 9 months several times (I'm not exaggerating) and even tried plotting cross-sections based on the drill holes as I own several million GGP. I think I have done my DD. But despite have a decent "punt" on GGP I still believe there's not enough been proved by drilling to get carried away. Yes, there is POTENTIAL, at Havieron & regionally & I'm there for the LT but there's a long road - 4 years? - ahead.
Holy gold Batman! 500koz prodn pa! What sort of mushrooms did you have for breakfast? GGP doesn't even have a resource yet let alone proven reserves that can be mined. One small step at a time.Or, because of NCM, one giant exploration step at a time, but it's still EXPLORATION! Yes, capex is greatly diminished, yes, time to production is massively shortened, but the company has got to find something to mine first. Havieron STARTS at 400m depth. Everyone, take a cold shower because this is likely to take all of 2019 to prove up if in fact there is anything at Havieron. I actually think a focus on Saddle Reefs (Black Hills), Scallywag and the other regional targets may do as much for the SP in the short term as results from Havieron.