Member Info for Timid

"I am curious as to why they did this route."
Newcrest wants guaranteed control. Telfer is only 45km away.
Alpala will require USD3bn+ of CAPEX. NCM may be happy to end up with a 50:50 JV with BHP.

Yes, PG is correct. Infill drilling to turn a resource into reserves means drilling on 25m spacings. That is a lot of drilling which is why some of us expect a decline down to 400m i.e. bottom of the cover and then drilling from various locations.
By this stage I assume metallurgy studies will be undertaken to determine recovery rates which would be required in a PFS.

TomE isn't Numis in the "sensible" camp? If the answer is "ye' then 4p is your answer. But the exploration at Havieron is very dynamic. As we all know NCM is in a hurry to prove up some special.
But most of the posters here are focussed on a bulk tonnage, lower grade operation.
What if NCM was happy with 40mt at 4g/t i.e. 4.5moz (assuming 90% recoveries)? That's a 9 mine life at a modest 4.5mtpa for 500kozpa Au. NCM 2020 guidance for Telfer is 400-460koz of gold.
Just a thought.

"I wonder what Biswas means by this statement?"
The likelihood is that Havieron is giving NCM geos a different exploration model at Telfer.
Despite what we keep reading the chances are that Telfer does NOT run out of ore in 2023.
The prospect of high grade zones at Havieron excites SB. Is high grade 2g/t Au? That is rock valued at $100/t which has to be mined from down deep and then trucked 45 km. Is that exciting? Not to me. It's good but "exciting". But 4g/t Au material gets into that category.
Let's see if the January qrtly gives us any hints as to what NCM thinks is high grade. After all its current drilling campaign is focussed on exploring/delineating a series of HGZs.

No problems with boundaries thirdman. Looks like Havieron may be trending to the NW i.e. towards Scallywag.
Artemis is making a lot of noise about its surrounding ground, which looks to have some interesting targets, but a couple of k's away.
More importantly it would be good to know what RIO is seeing in its geophysics both north & south of Scallywag.
See the boundaries at the bottom of this preso: https://www.artemisresources.com.au/our-projects/major-projects/278-armada

SK: "How much would GGP get for Scallywag and their other Paterson assets, say, if selling it on the open market today?"
IMHO? Not much!
Why? No drilling. It's all very well publishing pretty pictures but the only thing that adds value is drilling holes. It's not necessary to make a "discovery" hole but hitting the right rocks helps.
Look at what happened at Saddle Reefs. Lovely surface geochem, geophysics etc but results marginal/inconclusive, not a write-off but didn't add millions to valuation either. Plus all this stuff is stranded w/o Newcrest unless it is a major find like Havieron.
Until Scallywag is drilled all of the value is in Havieron. Of course we are hopeful for Scallywag and only 4-5 months to wait for drilling and then assays. Maybe one of the targets at PRE might get drilled at the same time.

My GGP shares went up in value and the mkt isn't even open yet!
Oh no, it's going to cost me more to buy my next parcel unless the SP drops 2-3%!
https://www.bbc.com/news/business-50766233
GPSRF, Havieron propels NCM into ASX Top 20? If NCM is a rocket then GGP is a submarine!

Thanks Richie, I appreciate you taking time out of your busy schedule to warn us about PC. Some of us bought in at the IPO so it's a shame you weren't posting on Hotcopper as you could have given us an early warning and we would have avoided only making 8 times our initial investment.
I feel sorry for Rick Rule, Eric Sprott and other North American ignoramuses as well as Datt Capital in Australia who put $A25m into ADT a month ago as they are only up 60% in a month.
Yes, those pesky poly-metallic mines are a real PITA and the concs are going to be bloody troublesome.
As for Karl S at SFR, he is an idiot wasting SFR shareholders' money on ADT and now up to a ~16% stake. Sack him I say!
Hopefully after a few more of your posts even the thickest of us will realise you are onto something and we'll accept the SFR t/o at >$3 and be rid of this useless POS.
Cheers,
T

NB. "Now it can be said that up until October 12 this year, Winu has been the subject of 276 RC and 106 diamond holes for 110,000 metres all up, or 110km if you prefer.

Clearly then, Rio thinks it is on to something that just might have the Tier 1 credentials it needs to justify its time and effort."
We will need a similar number of holes. Roll on 2020.

A very good interview. First mover advantage in Bosnia is going to pay back shareholders BIGTIME!
https://www.youtube.com/watch?v=aEkZ5BE4iko&feature=youtu.be

Artemis via Stockhead are straight out lying! GGP is not drilling to the north but to the northwest, towards Scallywag.
That pink oval pointing north should be pointing to 10 o'clock IMO.
Good luck to ARV for trying to make the most of it but I think the direction of drilling is much more +ve for Scallywag.

Doesn't make much difference PG. On my calc the holes are going deep so just working their way updip to some extent as well as trying to establish the diameter of the cylinder. It will be interesting to see what else turns up down in the SW before the Christmas break. My guess would be a line of 4 holes to the north of the current line of four. So if Jerry was right that at the AGM GH said Newcrest were happy to limit depth of the orebody to 1000m at this stage then we should see a few lines in coming months trending NW.

Exciting next chapter about to unfold for Adriatic metals. Congratulations to Paul Cronin & the crew on the amazing progress thus far and 2020 promises to be no less stellar a year. Onwards at Rupice and lots of exploration to look forward to in the surrounding areas.

12 Dec 2019 12:08:07
*DJ Newcrest Mining Price Target Cut 8% to A$27.00/Share by Morgan Stanley
(END) Dow Jones Newswires
No doubt a mine at Havieron supplying high grade ore to Telfer would help put a fire under the NCM SP, and GGP's too!
Good thing NCM has its own rigs. There could be a lot of drilling in the Paterson Range next year. Paddy's satellite images will look like a polka dot design.
Havieron is definitely the reference point for every anomaly in the PR, gravity, magnetic, or other.

https://www.asx.com.au/asxpdf/20191212/pdf/44cj0xc8gcgm8d.pdf

OAW, I was answering Joel's Q.
As to your comment, absolutely, GGP is a screaming buy IMHO based on what we know. Upside at Havieron is enormous, Scallyway & PRE having exciting potential but it is all down to the drillbit.
But we are speculators and based on the info in front of us we think the risk/reward ratio is massively in our favour.

IPAD: "Once Hav is proved up, maybe in a few months time, GGP will have no problem raising finance without dilution."
How? Sell 5%? But that is a couple of years away IMHO. Havieron proved up in a couple of months? Unlikely.
Is GH a magician?

Don't complicate things Joel. ATM there are just guesses.
Wait for Newcrest's qrtly report end Jan. There may be enough info there to start making some educated guesses.
For example, it would be good to know true widths, confirmation of continuity of high grade zones, the overall size of the system, what's happening to the NW and at depth.

Hi, new here.
Why hasn't management put 20,000m of drilling into MN?
A 3bt shallow orebody grading ~0.7%Cu would attract the big boys, RIO, Newcrest, BHP etc.
A lot of speculation on diamonds with which I am not familar but this porhpyry could be world class.
Romania as a mining jurisdiction? Ok?

I wonder what gets lit up on the RIO ground? Clearly there are targets everywhere including on Artemis ' "Armada" tenement to the east. But enough of the pretty pictures and upbeat commentary.
Get drilling people because that's the only way to find out if there's anything there.
How long before RIO has multiple rigs down this end of the Paterson Range? It managed to keep Winu quiet for quite a while but there's no way it will fly under the radar down here.