Member Info for Toby1967

Who’s Oli and what has the price of corn got to do with it

Speedy

If you are a 45% tax payer and payed in £20k to a SIpp with standard rate applied would give you £25k a year which would be £1m But additionally you would have claimed additional tax relief in your self assessment each year so even investing that outside your SIpp would have also got a return so there would be little in it

Ricardo and Speedy withdrew the SIpp are you not getting the tax relief as you pay in so drawing down over your limits you are simply paying back the tax relief paid originally assuming same tax rate so assuming you have seen capital growth the SIpp should offer a better return again assuming you’ve paid the same in to each as you’ve gained capital growth on the tax benefit

I don’t think it is an issue as the ETF funds have a % holding to maintain so if people sell their holding in those funds or we out perform other holdings in those funds they would sell to maintain the required % holdings and are likely to do this in large lumps

This would also be the case for index trackers

Bamps

In the Dec MRE for OC it references Newcrest PFS which allowed for an APT plant

Maybe I’ve missed another document which excludes that but whatever the outcome sale or JV the final decision on that is a long time off

Zoros

You may wish to check the figure you quote for Cap ex it only covers Telfer.

Hav early works was 60-70m with a further 55-60m to cover exploration and resource development giving a total cap ex of 355 to 390m aus$ for FY2026

Paddy those figures are head grade so you need to then factor in recovery of 85 to 90% depending on improvement from the new CIP plant which is part of the Hav upgrades

The standby generators are also diesel I believe and I suspect they would maintain a standalone supply for those is case of main power station outage as the dust storm in Dec to maintain site services

I’m sure if SD is able to discuss this at the TH he will and what affect if any it will have on ore movement to Telfer and tailings to Hav given the apparent night restrictions

Not a lot of chat about next weeks TH meeting but for those attending has a pub been selected for pre meeting drinks does anybody know

Ricardo

I assume you mean produce rather than process and the quick answer is no which i base on the following and assume no additional

processing capacity is added

we know one train will be down graded to 6mtpa to process Hav and without re-reading rns and presentations will produce around 250k Ozs

this would leave about 14mtpa of process capacity which to produce a further 750k Ozs would require a head grade assuming 85% recover of just about 2g/t keeping it to round numbers

a second check would be best every year at Telfer was again round numbers 600k Ozs so adjust this from 20 to 14mtpa would give 420 kOzs so i think 650 to 700k Ozs would be the peak without upgrades and only for a few years so 500 to 600k ozs is more realistic without upgrades and increased tonnage from Hav beyond what is currently proposed

E1

You’re assuming the ASX and LSE shorts are separate and only traded on the market reported

In the early days I looked into it and as shares are cross listed with ASX the primary listing all shorts above the ASX threshold are reported but if what I was told is not correct given LSE has a far higher reporting level it is therefore possible there are additional multi short positions in London below 0.5%

What is also Likely the shorts are closing across both markets so not all trading to close positions is on reported market given LSE price is a little lower than ASX they would look to get shares at lowest possible price to limit losses

It is

E1 I took it that Dip was commenting on previous high to today in terms of inflation etc not on other potential increases in terms of what we now own which I am sure he would see higher

Panama

I spoke with Rowen at the recent TH and Winu was discussed and he had a huge smile

I also touched on it with Sean at a previous TH and again he had a huge smile

Both gave the impression it is something they have done their homework on and would be interested and maybe have already had initial discussions

Time will tell but it would not be a shock when the RNS lands

Not sure I agree with you Mh the ATH was actually AUD 9.23 which without checking exact exchange rate at that time was over £4.50

Bamps

Your message of 8.05 not sure it it was only a comment or you were looking for others thoughts so here are a few of mine

i had previously questioned why they were looking to down rate the Hav circuit to 6mtpa and did have a brief discussion with SD at a TH but did not really get a full answer but now we know it is to get a much finer grind of 53 micron again the current grind for Telfer of from memory of 120 micron which always seemed to me fairly coarse and had caused some issues which were addressed in 201/12 from memory with a plant upgrade which introduced regrind mills on one circuit and on the common Pyrite circuit

if you consider we have 2.5 years to first gold and 6 years to full steady state running i don't think they want to not use the Hav mill for other ore otherwise you are halvng your Telfer output and only building up for Hav for 3.5 years or so so FCF would be inpacted at a time you are looking to maximise it as you spend money and are also possibly paying off debt

You mention 4.5mtpa but for Hav it is actually 3.9mtpa so by may calc at steady state Hav line will run for 65% of the time

At stated feed rate of 750tph that equates to approx 6.5mtpa less down time for maintenance/switching to other ore we end up at closer to 6mtpa which is the figure originally quoted by Newcrest so we seem to be down the same track

I suspect it is too early for them to have done detailed test work on WDD to develop a process flow sheet but lets assume a worse case which is wanting a coarser grind then it could be the cyclones are designed such that a simple spigot change when changing over ore source a throughput closer to current Telfer can be achieved and the new plant has been designed to bypass processes such as mag seperation which are not needed for current telfer ore

It is something i plan to ask SD at the TH and next week will go through in greater detail but just a comment on an initial look earlier this week

Ace

Not in WA as at the time most of the work was new projects

TT

With a quick look your article is more applicable to a gold mine rather than gold/copper

some weeks ago a certain well read poster suggested satallite images showed Telfer preparing for processing tailings

My own experience on tailings treatment is it is very profitable on old operations pre CIL/CIP processing but given since the upgrade in 2003/04 it has had a CIL circuit (not always used if my memory serves me correctly) so the likely hood of even considering it is very unlikely given what drill results suggest

Given the upgrade in 2010/12 (sorry don't have time to pull out flow sheets etc) to introduce regrind mills on the circuits tailing pre that date may be more productive as the regrinding to a much finer particle would release some of the entrained gold they did not recover in the first 10 years or so

Generally speaking most of the tailing projects i worked on normally involved grinding and process plants larger than the original plant throughput so it would require a very large investment or if they decide there really is only enough left to operate through a single train for both Hav and Telfer (very unlikely in my view) then maybe tailings through the redundant train may be an option

Given they also require old tailings to be transfered to Hav for backfill it is likely (but i stand corrected) they wil use older tailings which are the ones you would likely re-treat they are likely to end up to wet to transport for back fill

it is not something i have heard SD touch on but if it is something in the plans we will hear soon enough

apogises if this comes across as negative it is not meant to be

Dip

Thanks for that it supports my own thoughts exactly

and also better put than my own message which seems to ruffled a few feathers

TT

If thats how.you want to read it that fine but it is not the case between me and my wife we hold for us a large number of shares

if you don't agree with my post to E1 and cannot see why we currently have a lower PE than most given our lack of history as a producer and waiting on various drivers to support our long term future then thats fine we are each entitled to our own view but clearly only blue sky views are not driving the share price and i was trying to offer a view as to why