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Hi reddirt, R u able to provide a link? I couldn't find anything on the website.

PG, I believe NCM wants to tell the market as much as it can about Havieron. I think a discussion about the likely genesis and style of mineralisation is important to understanding why (but I'm not a geologist) because we can assume we know as much about Havieron as Newcrest does or Havieron is not an IOCG deposit (despite GGP saying it was, but that was in earlier times before NCM's involvement) in which case because of its accumulated knowledge at Telfer NCM can better interpret the data and the likelihood of multiple "dome " targets as well as where there may be more high grade zones. My gut feeling is that it is the HGZs that has got NCM excited and so may be more willing to talk about than if it were a huge tonnage low grade deposit like RIO's Winu discovery. It seems to me that NCM thinks Havieron is going to "save" Telfer and there's nothing like high grade gold to change plant economics. I think that NCM believes it is on to something big but the rest of us, who aren't geologists, don't understand. As GH has pointed out, some of the HGZs are outstanding. It will be interesting to see if any analysts follow up with questions on Havieron since a mine within 5 years feeding high grade gold to Telfer has an impact on valuations, even for a big miner like NCM.

Hi PG, after the next set of assays would it possible to color code for Au grades? It would be great to try and visualize the 4 high grade sub-vertical zones that NCM refers to.
Please let there be some news on north/south extent of mineralization! I'm pretty confident those extreme east/west holes are going to show Havieron going deeper.

LB, you rightly say "throw cash at drilling". We've seen Newcrest spend $5m at Havieron in a few short months. And therein lies the problem for GGP management. How is it going to advance exploration without continual capital raisings? I've recently posted an example of a JV that included cash to the junior partner (PolarX). I haven't counted all of the targets in the Paterson Range but there could be 20+. Management needs to find another partner, RIO?, with a JV modelled on the Lundin/PolarX JV. Obviously Havieron could pay for exploration but that cashflow is 4-5 (?) years away. It's a good thing that RIO is an active player in the Paterson. It brings some bidding tension to the table in an otherwise monopoly for NCM. So let's hope that GGP gets lucky with the first round of drilling at Scallywag and RIO comes to the party. RIo has ground immediately south of Scallyway and the geophysics clearly shows anomalies extending across both tenements. Preserving capital, minimising dilution, these will be a test for management over the next 12-24 months.

I think we need to careful with comparisons. Carapeteen is an IOCG deposit . I love this story as much as anyone but Havieron will require patience although with six rigs drilling a lot of information is being generated. Sandeep Biswas has already given us the timeframe, 6-12 months from Denver conference in September. Perhaps it could take 50-100 holes to get a clear understanding of Havieron. I'm not sure if drilling will stop for summer. does anyone know for certain?

Given the news re Scallywag & now Paterson Range East I thought I'd post regarding a JV over two 2-4bt porphyry Cu/Au prospects in Alaska between a junior (PXX.ax) & a big player (LUN.to). Over 3 years Lundin to spend US$24m on exploration & pay PolarX $20m to form a 51:49 JV. NB no holes were drilled into either target prior to the agreement. Apparently up to seven majors were in talks including three which kicked the rocks in Alaska. Imagine how GH/GGP could structure some JV deals that injected enough cash into the company to pursue some targets on its own. Food for thought because I suspect sellers are thinking about the ever -ncreasing exploration budget and the perceived need to raise cash. But if a similar deal/s to the LUN/PXX JV could be struck with one or two majors and/or NCM then clearly the sellers/shorters will be caught in a squeeze. https://www.asx.com.au/asxpdf/20190604/pdf/445lfrgcc6xz1j.pdf
Anyone else got a recent JV between an exploration junior & a major worth >$25m? It would be interesting to see what sort of deals are being struck around the world in this year. South32!

GGP mkt cap ~USD80m. NCM spending up to $65m to earn 70%. I think if it spends that much then NCM will have proved up more that 10moz at Havieron. Given proximity to Telfer plant deposit could be valued at >$100/oz, so upside from here for GGP SP could be ~4 times assuming zero value for other projects. Everyone happy with a SP of 7p in 18-24 months time?

What exactly does CGP.v need money for beside admin that isn't discretionay spend? ATM it has two JVs with Newcrest & one with Sunstone fully funded. SOLG OTOH spent USD60m on Cascabel last FY. It ended the year with about $32m so on that basis it possibly runs out of funds this qtr. Of course it does have some discretionary spending it could cut back on but it looks like another big CR coming up. I'm not sure CGP has anything to fear. Meanwhile, BHP & NCN are having a little giggle at the childish spat that is making Alpala cheaper by the day.

Don't miss the forest for the trees! Understand electricity supply/demand in India. https://en.wikipedia.org/wiki/Electricity_sector_in_India
Please check all facts but I'm pretty sure rural India gets free electricity which might not sound like much to urban-centric countries but India is 60'% rural. At the last election (maybe the one before) one of the two main parties suggested imposing a price to offset the cost of eclectrification. It had to beat a hasty retreat. So there is still a latent demand for TVs, airconditioning, etc (all things with copper in them) from 600m (or more?) people as well as the wiring in houses & wiring to get the electricity to those houses. Similarly, China will continue to increase per capita consumption of copper. And then there is the expectation of a world with 100% EVs. Cu looks good!

PG/Aandi,
I thought I would highlight what Newcrest said it would do next. The focus now on the (at least) 4 sub-vertical high grade zones makes sense. It may mean Holes 19-33 have defined the edges of the system. It will be interesting to see where the next series of collars are located.
25 July, 2019 (NB Focus on the magnetic anomaly)
Next steps for Havieron:
•Newcrest to expand its exploration campaign from two drill rigs to four - third drill rig has commenced operation and a fourth is scheduled to arrive at site in August.
•Drill programme designed to:
o Further define the extent of the upper gold zone;
o Test the depth extents of the mineralisation and associated magnetic anomaly; and
o Search for additional zones of mineralised breccia within the footprint of the coincident magnetic anomaly.

10 September, 2019 (Referring to Holes 19-33? The satellite images showed some big stepouts east & west)
Next steps for Havieron:
•Phase 2 drilling programme initiated, which includes plans for a significant increase in the amount of both step out and infill drilling.
•A fifth drill rig is expected to commence operation in September 2019.

24 October, 2019 NB Focus on high grade mineralisation
Update on Activities at Havieron: (More high grade results before the end of the year?)
•Phase 2 drilling programme has commenced with six drill rigs now in operation.
•Drilling is ongoing to demonstrate the continuity and extent of the high-grade mineralisation.

PaddyGall, this is like finding clues is a murder mystery! Where is Newcrest drilling next? Does it indicate DHEM or visuals (although the gold is not visible) is showing where to drill? NB. on the Newcrest Schematic Plan View Map it notes the magnetic anomaly and shows Havieron still open to the north & south.
Read the RNS “Havieron - Results of New Geophysical Models - 27 Nov 2018”
NB “Result of modelling of magnetic data define a single, discrete, high amplitude elliptical shaped body that is steeply dipping (subvertical) toward the south east with a depth extent from around 800m below surface to approximately 1,400m below surface, but the body may continue beyond 1,400m as this is the current limit of data resolution. “
Then look at this (although note that this is an earlier version from June, 2018) https://greatlandgold.com/wp-content/uploads/2018/06/HavHistMag-20-06-18-v2.jpg
And this from August, 2019. Although principally about Scallywag (easy to see why RIO will be keeping a close eye on developments here) note the elliptical magnetic intensity image at Havieron.
https://greatlandgold.com/wp-content/uploads/2019/08/Fig1-Scal_MMI.jpg
NB. the inner, elliptical ground magnetic anomaly.
This seems to me to be why Newcrest is persevering with drilling as per PGs overlay. Drilling has confirmed the east/west extent as shown in the magnetic survey i.e. ~300m & depth, ~1000m. But what if the magnetic survey is accurate north/south too i.e. ~400m? Havieron s BIG!
At 2g/t Au equiv. there’s ~13.5moz Au.
But of course, it’s all hypothetical until we see assays. Waiting ….. ??

Thanks aandi but I think it is getting really difficult to keep track of holes relative to each other. Here's PGs overlay from a weeks or so ago. It helps with trying to locate newest collars.
https://drive.google.com/file/d/1OKMPPQdJULJ9TsxGVEJrNMuAgKx5dagf/view

Since you follow Sprott you might be interested in Adriatic Metals, ASX listed but about to list on LSE, HQ in London, deposit in Bosnia. Massive exploration upside IMO but mkt treating it like a development play. Sprott has made 4 site visits. I feel i owe you!
https://hotcopper.com.au/threads/ann-adriatic-metals-preliminary-metallurgical-testwork-results.4972889/page-88?post_id=41048397

PG - Always hard to get the tone right with just text but I was being sarcastic :-) I can't see another party having the "muscle" to enter the game except RIO which has the tenement immediately south of Scallywag but NCM has to be favourites in any new JV. Having RIO in the background provides some bidding tension. BTW I'm very confident there will be more good news at the NCM AGM. With the ramp up in the number of rigs its seem inconceivable there there wouldn't be more good news but all in good time because Havieron needs a lot of drilling. Thanks again for you brilliant research.

Poor Newcrest, you can't help bad luck but great news for GGP that NCM initially thought there was something worth following up. Yes, it would have been great if GH had been bold and put a few holes into at least one of the Scallywag anomalies before summer. Ah well, we'll just have to wait for the rig to start spinning in April and hopefully some assays in June.

Hey aandi, the orebody goes deep. The two extreme holes on PGs satelite image are 1.2km apart. Assuming they do no more that meet at 600m lateral distance then that is about 1650m deep (assuming constant 70 degree angle). Of course they will probably go further, especially the hole collared to the extreme east as Newcrest seems to be very interested in mineralisation to the west of the dyke. Subtracting 400m of cover hopefully gives Havieron 1250m depth and still open! Obviously every hole is important but a few key ones I'm interested in are 2 near HAD15, the first one 150m west targeting higher up on the western side of the dyke and another collar ~150m immediately north. This is quite a stepout and if successful will add big tonnes quickly. Another interesting collar - land cleared but no rig there yet - is NW of HAD16 which was a dud hole which is very disappointing as the geophysics suggests Havieron is plunging south or SE so it must have missed the edge. Anyway, good to see Newcrest back there with a hole a bit closer but still south of HAD6. From PGs earlier images Newcrest have drilled quite a few holes from the west, I assume targeting the orebody higher up in the system west of the dyke. It's probably crazy to read too much into collar location but good fun speculating. Thanks again PG. Awesome work!

23 years later it's an even bigger social event MB1965. Tt's a holiday in Melbourne and a lot of offices in other states have long lunches. ASX turnover is usually miserably low on the day. Nobody want to take a call from their broker!

Assuming it is news about Havieron, then the announcement is coming from Newcrest on 5 Nov. If this is the case, I am extremely confident this is BS, cow manure of the highest quality! Why, because 5 November is the 1st Tuesday in November and on this day Australia has a horse race that stops the nation, The Melbourne Cup. Nobody would think of releasing good news on this day. Seriously!

Adding more interest is the fact that RIO has the tenement immediately south of Scallywag. It's a shame we have to wait until April (?) next year before rigs are on site. On other maps it clearly shows anomalies running into RIO ground. No doubt it will be keeping a close eye on proceedings. This is a great place to be if your interest is BIG exploration targets!

JC, will bow to your greater knowledge of AIM/LSE trading. I have only owned two stocks on AIM, SOLG & this one so I'm a novice. I try to deal in fundamentals not charts etc. Because I knew management I bought SOLG from 2p up to 9p and sold on the way up to 45p. Fundamentals wins in the end but mostly in exploration we need plenty of luck. I think NCM is very good at what it does and I'm trusting them find a large orebody >500mt! My guess is H will be very deep, >1.5km. but what is the plan view size and are the 4 s-v HGZs continuous and of sufficient sixe to lift overall grade to >2g/t Au equiv? We'll see.