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I think it is a "screaming" buy because of the Newcrest relationship, the fact that NCM keeps adding rigs, CEO SB is enthusiastic etc. I was just trying to give reasons why some investors might have a contrary view and there are obviously many of them selling/shorting. Everyone has to admit there is not informatioon currently available to be categorical about anything. Read the NRs, view the maps, look at Paddy Gall's video. I think the next round of news from NCM is crucial in showing us what stepouts north & south have found. Havieron needs volume - the lower grade envelope - as well as better understanding of the 4 su-vertical higher grade zones, including true width. NCM is telling us that the numbers we are seeing ATM are not sufficient to provide a clear picture. That is why on PGs satelite images there are some big stepout east & west to get down deeper, as well as in-fill drilling to try and get more data on the potential size of the 4 HG s-v structures. I'm bullish because I think NCM will find it/work out the geology/geometry but others are selling based on not being so hopeful.

I think the selling since the 24 Oct. news is based on two things; 1. 4 sub-vertical high grade zones of unknown width inside a low grade envelope; and 2. not much distance so far in drilling north/south and at least as far as most southerly holes are concerned no mineralisation (yet). But in Newcrest we trust!

See on P.14 for how Telfer has been mined. No new info on Havieron but he did mention it. see P.22.
http://www.newcrest.com.au/media/presentations/2019/IMARC_Presentation_2019.pdf

Havieron is not a porphyry Au/Cu deposit where you drill 20-25 holes and hazard a guess as to tonnage. It is probably not an IOCG deposit either. Havieron is going to require perhaps as many as 50-100 holes before Newcrest has a good sense for how it is shaping up. NCM has already said it is complex . (See my previous post or NCM NR.) Another thing, the discussion about block caving is premature. The high grade zones may mean a different mining method is used. Remember that NCM has said it does not know true widths. Most of us have just has guesses at what is possible. We just have to be patient while Havieron reveals itself. Hopefully there is more news before the AGM in 4 weeks.

I don't think MN will be talking about "Canteen" - there seems to be a news blackout from Newcrest on this one - but some of you GGP followers might be interested in ASX: AMG - Ausmex Group. Here's a technical report and Fig.1 is fascinating!
https://ausmexgroup.com.au/the-little-duke-mount-freda-evening-star-mineral-system-cloncurry-district-based-on-core-lithologies/

International Mining & Resources Conference
Melbourne, Aust
11.35am Tuesday, 29 Oct.
Mining Keynote: Growth and expansion plans – where do we see opportunities Michael Nossal, Chief Development Officer, Newcrest Mining
https://mk0imarc7eoc32p6idt.kinstacdn.com/wp-content/uploads/IMARC-2019-Final-Agenda-1.pdf

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.

Perhaps next year's AGM for a first resource statement BTB? Some repeats of HAD005 would be good to start building the resource towards 500mt! BTW there's lots of copper at Havieron too.

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.

That is awesome! Thank you. It looks like the holes to the west have hit something promising.

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!

Was there a margin call on a big player to cause the 25% price drop on large volume?