Member Info for WelshFalcon

There are no 'issues'.

Companies evolve to deal with the environment they are faced with. To hold a dogmatic course is dangerous and has been the downfall of many.

We have a major gold/copper find here. There is nowhere else in the world that you can pick up a 25/30% share of a tier 1 gold mine with only an estimated $34m capex. That being with a JV partner who has the knowledge and manpower to perform all the mining functions. All with an in situ processing plant and distribution system thrown in.

Not only all that, but we are in a world environment which is causing the gold and copper pricing to accelerate, with some interesting predictions - some alarmingly high.

For me, I would find it difficult to agree on any valuation for a sale of Hav. On what basis could you possibly say 'X' ids the right value? I would say that we will need to see how things pan out over the next 3 - 5 years before we could even consider a sale.

Until then we will have a mine, or share of. NCM have the commercial need to get ore moving through their Telfer plant, so I think we will all be surprised how quickly they do this.

For such a small capex we will, in short order have an income stream that will cover all our exploration efforts as well as provide a healthy dividend.

Selling the family silver without knowing its true value is a little daft.

Still have a bit of cash for today left. Maybe more here, but watch ROCK atm. not sure which way to jump!

top up at 13.595

Well said, but.....
Not quite 'Allo Allo'. Listen very carefully I will say this only Twice!

As ever, Paddy gives us a true perspective.

Holy *****. It's a bit early, but I need a drink now!

Am I reading this correctly? Have we just more than doubled the reported size, with even more to come?

Massive steps - no!

Baby steps only so far, just wait until we get into our full stride.......

Thinking about it further - you have actually won! You have achieved the nirvana of a husband.

You know they they never forget and will always bring up that thing you did/said/should have done in any disagreement. Well you may have just bought yourself a defence. You'd be able to say "Ah, but if you hadn't forced me to top slice GGP early, then we'd all be much better off".

Hats off or cap doffed.

Well, it all depends on how good a negotiator your are?

I'd offer her something nice and shinny (whatever it is that she wants) when it hits 16p, but all further decisions will be yours alone (they hate losing control.....).

Or....

Two nice shinny things in 12 months time.

Delay, delay, delay has to be the game plan.

WA have been pretty proactive so far and have limited Covid very well. There has been no disruption in drilling this year so far. The only delay was to getting the heritage surveys done for Scally which involved meeting with the Martu. This has all been sorted and drilling started.

Unlikely that there will be any covid problems going forward.

A bit too far for me, sadly.

I do have a nice bottle of Merlot ready and will raise a glass here. Nominate a time for your toast to absent others, and I will coordinate.

Enjoy, guys.

This time next year, Rodders, We'll be ...................

I know why we are up, all as expected, but a little later than I would have thought!

What i don't know is why my holding in ROCK is up 24%. Nice, but why?

Alright, own up...

Who did it?...

Who released the kra,,,,,,........

An element of early chicken counting creeping in!

This mine will evolve over time and the profitability will change as it evolves.

My best guess is that we get an exploration decline which will allow some high grade stopping to be recovered. This will be at a higher cost.

While the stopping operation is active, a deeper decline to allow block caving will be started. This is not free and will have a cost associated with it.

Only when block caving can start in earnest will the best cost savings be made, until then there will be a mine building/investment phase.

With careful planning (PFS needed?) there should be plenty of profit along the way, likely not as much as the more simplistic fag packet calculators come up with.

Are you trying to say "release the Kraken"?

Ah, another one post wonder!

To be expected, I guess.

I'm sure things are happening behind the scenes, but not a big priority IMO. We are funded for the next 12 months drilling, during which Hav developments should be interesting!

May be best to wait and see, especially with the gold price increasing, as there may be better value for any divestment in a years time.

Softly, softly, as they say.

No pessimism here at all.

We do have to ask why you are trying to create the impression that there is?

@TMT

Spot on with the Telfer output, this is an additional benefit to NCM. Hav's initial stopping operation will help extend Telfers life (my guess 5 years). A nice buffer while the deep decline(s) and infrastructure is built for the cave mining to start.

Re the buy out, all is possible. My feeling is that NCM don't need to buy out HAV/GGP. Yes they can raise the cash fairly easily, but will better employ any capital elsewhere at the moment. In 5 years or so the picture may well be much different., but at this stage, SB bold plan will be best served without committing more capital than he has to.