Member Info for WelshFalcon

Unlikely that they are connected with a mineable ore body (there may be something, but way to deep to be useful). In any case the JV agreement covers certain area/blocks only with a first refusal on Scally. So, no. Under current JV they aren't connected other than the first refusal.

Paddy, maybe we should point out to Numis the risk to NCM of not going to mine is very pertinent. They nave to have some higher grade ore from somewhere to feed Telfer and Hav is the only resource close enough to produce in short order. The pressure for NCM to go to mine reduces the risk dramatically!

I think there is an ADR available, but NCM being on ASX is a problem for HL. I have hedged my bets, have some RIO as well.

Spot on, mightily impressed with GH and his team.

Thanks TMT, and apologies for my spelling typos. Sticky keyboard here.

I see our JV more as a highly beneficial symbiotic relationship at the moment. If (and it is an if, finding gold is difficult) one or more targets at Scally comes good too, then we all move several levels up in the game.

I would have some NCM, but HL won't play (ISA and Sipp, so not easy to go elsewhere!).

Just poppoed up on BBC news website "UK economy shrinks record 20.4% in April due to lockdown". Could be another rollercoaster today folks.

Tom, this is why I don't like all the fag packet calculations that pop up.

It's not as simple as that at all. They are looking at NCM, Telfer and Telfer's value. Pushing through some high grade ore makes differences to Telfer's AISC which in turn feeds into profitability for Telfer and NCM. This will forse an increase in boo asset value of Telfer. Basicall there is no direct relationship with UBS's view of NCM value and GGP's value.

We are simply worth what NCM or others want to pay and what can be agreed with our BOD/shareholders.

https://www.abc.net.au/news/2020-06-12/tasmania-has-no-active-cases-of-coronavirus/12349228

Tasmania eases Coronavirus restrictions early.

Bloomin' autocorrect. have = HAV, obviously.

There is an interesting mismatch between the institutions and reality at the moment.
UBS - only an increasing likelihood that it will be mined. Very few have recognised that it will be mined.
Whereas the reality, SB would start the decline now (yesterday even) if he could and has said so publicly.
RNS with all the paperwork required to sort out mining.
GH's recent interview explaining this.
Telfer's need for higher grade ore to survive, have being the nearest source of this that can be brought online in short order.

When they do cotton on to the full picture, this baby will sprout massive wings!

From my research, you have to put it in some historical context. NCM had surveyed and drilled in many areas around Telfer, but at the time gold was around $300. The economics back then were somewhat different, Telfer was easy as it was a surface deposit to start with, but most other prospects had and excessive expense to prove up so were let go.

Now, of course, the economics have reversed and we have been lucky to pick up suck a promising set of tenements!

Who's to say what the position will be in another 30 years or so? Certainly over the short and medium term thing look impressive. A minimum 10 year ride in my opinion, likely much longer.

Place your bets folks. Where do you think the decline should be?

With all these step outs, and so much drilling needed to properly define the full extent, how do you decide? Only two spots I can think of, either from the south, or from the north. Either of these smack bang on top of the dyke feature, the only piece of the puzzle which we know doesn't have mineralisation.

So.... deep breath... we've only found around half of it so far? Way too early in the day for a snifter!

What if they have to relocate the camp!

Fabulous, but.... all the activity in the SW along with the screensaver hint? Held that data back somewhat..... intrigued.

I use a biscuit tin. Anything that fully encloses with metal (or mesh even) will create a faraday's cage.

I don't know enough about how NCM account for the initial mine build capex - but it wouldn't surprise me if we have an AISC below $500 in short order one we start digging out ore. year 2?

We should be looking at the newest mine that exists built using all the best knowledge and experience of NCM. Automation galore, I assume.

Our higher grades (vs Telfer) will force down the AISC. Our higher copper content will give a greater credit too. As to where it goes depends on lots of numbers, but simplistically - and assuming the 10x grade touted by by both SD and GH is true, then divide Telfer's existing AISC by the same 10.

If we are ten times the grade, the plant will produce 10 times the gold for the same throughput of ore.

Good to see them gone.

I was just wondering if they had been ousted, or if we are now too stable to interest them. If the latter it bodes well.