Member Info for zoros

Hi Bamps. Thanx for this.
Of note, during SLC mining, ore is surrendered at the TOP of the ore body, not the bottom, as you will see here @ 00:28 seconds:
https://www.youtube.com/watch?v=TnA2mZ9N74s
Therefore we don't have to wait until an additional 2Km of decline is built to retrieve ore from the bottom of the body.
I suspect that is why Sandeep suggested that once they arrive at the top of the 'motherlode' @ 420m and the SLC commences....then...they can cream off the first of the output from Hav.
Unless you say otherwise, I would therefore like to keep the timeline the same (Q2/22 Vs H1/24)?

Regarding block caving timelines: This is where I need your expertise:
If first offtake occurs at the top of the first decline (where SLC commences) @ 420m, then to block cave the motherlode (main ore body), requires a further depth of approx 800m (down to around 1200M) to be constructed. This will need around 6Km of tunnelling and @ 8m/day, will take around 2 additional years to get to the base of the ore body to start the block cave process of blasting from below. This then tallies with production from the block caving method (high volume low grade) starting around Q2/24. Not 2028 as the brokers suggest.
In summary:
Q2/21: surface decline commences.
Q1/22: Decline completed down to top of ore body @ 420m. (3000m/8m per day: 1 year).
Q1/22: SLC for depth of main ore body (350m) commences. (2000m @ 8m/day: 250 days).
Q4/22: Base of ore body reached. (Now @ 770m).
400m remaining to base of remaining resources. (3000m@8m/day: 1 year).
Block caving commences at base of resources: Approx Q1/24.

Your adjustments appreciated please?
Z

Hi Jvetch - hope all is well?
Can I ask you to do these calcs again with the following inputs:
PoG: $1850.
Grades: Au: 1.00g/t. Cu: 0.25%
Recovery rates of: Au: 93%. Cu: 85%
AISC: $600/t.

I'd be interested to see what you discover.

Regards
Z

Good afternoon Bamps, et al.
A wee while back you and I 'liaised' on the time line for Hav. The reason being that I didn't want to post conflicting details regarding the way ahead, especially wrt major events during the construction of the mine.
I see, in your post @1142, that there now appear to be a couple of anomalies and would be grateful for clarification, so that I (we) sing from the same hymn sheet.
Up until (and including) the commencement of the SLC @ 350m (I mention: 420m)...I (we) agree on the scope of works.
Then we differ......
You go on to state that production from the SLC (at the earliest) will be around H1/24...nearly 18 months after you state that SLC commences. Sandeep mentioned that as soon as the SLC started....production (low volume/high grade) could begin. So I am wondering why you have injected an 18 month delay from commencement of the SLC before production?

Secondly - you mention Block Caving from 2028. I mention Q4/22 for the commencement of build and full production in 2024+. Again this is based on Sandeeps podcast in Feb where he states that NCM/GGP will need to discuss partnership costs for the block cave design before construction commences. Once agreed, then commencement would start Q4/22 (ish).
Can I ask for clarification for your 2028 to start block caving...approx 5+ yrs later than Sandeeps comments re: Q4/22.
I can then modify the diary for all to refer to such that 'most' here are on the same page?
Many thanks in advance.
Z

For your Diary.................

Mar/Apr 2021. Scally Assays (Pt 2)?
12/03/21. GDXJ quarterly rebalance. (Updated 19/3).
18 – 23 Mar. Berenberg virtual roadshow with Shaun Day.
03/21. Rig at Parlay.
End of March ‘21. Juri joint venture drilling commences.
04/21. Rig at Paterson Range East.
29/04/21. NCM March quarterly results.
06/21. NCM Interim report. (Northern crescent and breccias?)
06/21. GDXJ quarterly rebalance. .
22/07/21. NCM June quarterly results.
19/08/21. NCM full yearly results.
09/21. NCM Interim report.
09/21. GDXJ quarterly rebalance. .
28/10/21. NCM September quarterly results.
Q2/21. Completion of Box Cut. Decline commences.
Q3/21. MRE(Indicated). SE Crescent and Breccia.
Q3/21. Possible admission to GDX?
Q3/21. Havieron PFS.
12/21. GDXJ quarterly rebalance. .
12/21. Option for NCM to take over management @ Juri JV.
Q1/22. Decline and ventilation shafts complete. [Approx 3Km long and 420m deep].
Q1/22. SLC (or the option for Stoping) commences @ main ore body.
Q2/22. First pour? High grade, low output.
Q3/22. FS. Decision to bulk mine to be made. [Decline approx:1200m deep / 8000m long].
Q4/22. Bulk mining commences. Medium grades, large output.
Q1/24. Full production commences.
Q1/25. NCM may acquire additional 5% interest

Z

The Accountant:

Enjoy......;)

The following is essential reading:
1. Greatland Gold website. [https://greatlandgold.com].
2. GGP heldesk. [https://ggphelp.co.uk].
3. GGP stock analysis. [https://www.youtube.com/watch?v=Q34v4V_Fxds].
4. Example of Block caving [https://www.youtube.com/watch?v=5woCaxXB7Jk].
5. Example of Hav mining construction [https://www.youtube.com/watch?v=qp7bm24PDwc]
6. Visualising the life cycle of a mineral resource [https://www.visualcapitalist.com/visualizing-
the-life-cycle-of-a-mineral-discovery]. The Lassonde Curve.

Here is what you have bought into:
https://www.rapidcamps.com.au/site-solutions
https://www.newcrest.com/our-assets/havieron

14 x exceptional official news releases and updates on Havieron.
Inferred 4.2MOz Au Eq reported. (From half of Havieron crescents and breccias only).
A prediction that additional resources @ Hav will increase 2 or 3 fold – in 2021.
Joint Venture agreement with competent Major partner. Securing GGP’s future Hav funding.
Telfer processing plant nearby. Already fully operational.
Mine @ Havieron under construction now (roads/accom/box cut)
All approvals and permits obtained.
420m deep and 3km long decline to motherlode starts Summer 2021.
Income generation on completion of Decline.
Full production starts (block cave technique) - 2024.
Regional drilling ongoing (JV with NCM) (Juri).
GGP financed for the remainder of 2021.

cont'd........

Your homework for the weekend...enjoy...

The following is essential reading:
1. Greatland Gold website. [https://greatlandgold.com].
2. GGP heldesk. [https://ggphelp.co.uk].
3. GGP stock analysis. [https://www.youtube.com/watch?v=Q34v4V_Fxds].
4. Example of Block caving [https://www.youtube.com/watch?v=5woCaxXB7Jk].
5. Example of Hav mining construction [https://www.youtube.com/watch?v=qp7bm24PDwc]
6. Visualising the life cycle of a mineral resource [https://www.visualcapitalist.com/visualizing-
the-life-cycle-of-a-mineral-discovery]. The Lassonde Curve.

Here is what you have bought into:
https://www.rapidcamps.com.au/site-solutions

14 x exceptional official news releases and updates on Havieron.
Inferred 4.2MOz Au Eq reported. (From half of Havieron crescents and breccias only).
A prediction that additional resources @ Hav will increase 2 or 3 fold – in 2021.
Joint Venture agreement with competent Major partner. Securing GGP’s future Hav funding.
Telfer processing plant nearby. Already fully operational.
Mine @ Havieron under construction now (roads/accom/box cut)
All approvals and permits obtained.
420m deep and 3km long decline to motherlode starts Summer 2021.
Income generation on completion of Decline.
Full production starts (block cave technique) - 2024.
Regional drilling ongoing (JV with NCM) (Juri).
GGP financed for the remainder of 2021.

Z

So much noise again today....so little benefit.......

Updated:

Mar/Apr 2021. Scally Assays (Pt 2)?
12/03/21. GDXJ quarterly rebalance. (Updated 19/3).
18 – 23 Mar. Berenberg virtual roadshow with Shaun Day.
03/21. Rig at Parlay.
End of March ‘21. Juri joint venture drilling commences.
04/21. Rig at Paterson Range East.
29/04/21. NCM March quarterly results.
06/21. NCM Interim report. (Northern crescent and breccias?)
06/21. GDXJ quarterly rebalance. .
22/07/21. NCM June quarterly results.
19/08/21. NCM full yearly results.
09/21. NCM Interim report.
09/21. GDXJ quarterly rebalance. .
28/10/21. NCM September quarterly results.
Q2/21. Completion of Box Cut. Decline commences.
Q3/21. MRE(Indicated). SE Crescent and Breccia.
Q3/21. Possible admission to GDX?
Q3/21. Havieron PFS.
12/21. GDXJ quarterly rebalance. .
12/21. Option for NCM to take over management @ Juri JV.
Q1/22. Decline and ventilation shafts complete. [Approx 3Km long and 420m deep].
Q1/22. SLC (or the option for Stoping) commences @ main ore body.
Q2/22. First pour? High grade, low output.
Q3/22. FS. Decision to bulk mine to be made. [Decline approx:1200m deep / 8000m long].
Q4/22. Bulk mining commences. Medium grades, large output.
Q1/24. Full production commences.
Q1/25. NCM may acquire additional 5% interest.

Z

Reset ends tomorrow CoP. Estimated 49M shares required to balance the GGP account.
Z

Quades: cast your mind back just 6 months ago and further - you wete adamant that dilution was NOT the way fwd.......now what are you saying?
You couldn't make this up, could you? Just fell over your own feet, matey.
Z

Quades - by your own words, it has taken NM 6 years to change from explorer to producer and they still haven't got anywhere near being ready to produce. In that 6 years they have:
Fecked up their mine design!
Upset two of their biggest shareholders!
and
Sacked the CEO!
You sure they aren't going backwards :)

Z

I think once the rest of the motley crew gen up on what KM shows them regarding the mine design, they are then going to realise how complex it is to put it into practice.
Does anyone honestly believe that the Solg BoD are going to know who to approach never mind how to build a very very complex Block Cave. A light bulb will illuminate above their heads when they finally understand that if they want this mine built this decade - it HAS to be built by a team of experts and experienced miners...two examples of which are sitting on the sidelines wiggling their fingers.
If KM gets the CEO's job - he will convince the rest to tow the line and farm out Alpala, where Solg reaps the royalties and divi spin offs. Solg can then move onto their next project......
Z

Our updated model forecasts steady-state SLC production of 187kozpa Au and 8.7ktpa Cu at an all-in sustaining cost (AISC)of US$697/oz, postby-product credits, until 2028, when we assume block cave production commences.The SLC and block cave would then operate concurrently, producing670 kozpa Au and 28.7 ktpa Cu on steady state basis between 2030 and 2042 at an AISC of US$821/oz (post by-products), followed by 20Mtpa production from the block cave for 543 kozpa Au and 22.4 ktpa Cu annually, withan AISC of US$863/oz until the end of our forecast mine life. This model allows us to arrive at an NPV for Havieron on a 100% basis of US$4,283m,with US$1,363m attributable to GGP. Target price –GBp30.1per share valuation implies 35% upside.
Our Greatland Gold valuation based on our internal mineral inventory estimates, a flat gold price of US$1,950 per ounce and a flat copper price of US$7,500 per tonne.In addition to our DCF of the Havieron project, we also ascribe US$100m value to Greatland’s other projects in the Paterson province. Ourupdated risked valuation for GGP shares based on our DCF model for the Havieron sulphides project is US$1,434m or GBp30.1per share, an upgrade from our previous valuation of GBp16.7per share. In our view, the most significant potential catalysts over the next 12 months are increases in the Havieron JORC resource as well as the pre-feasibility study expected before the end of the year.

Top end of the Gold/Copper spot price, otherwise a reasonable shot at the SP until further results trickle thru.
Z

Hannam's note, Feb 2021.

2020 a year of major progress at Havieron JVGreatland Gold (GGP) has been one of the most notable success stories in the junior gold space of recent years, rising from a microcap junior to a company with a market cap of over £1bnat its peak in January 2021. This share price appreciation has been driven by spectacular exploration success at the Havieron project that outlined a world class asset both in terms of grade and scale,within a truckable distance tothe 20Mtpa Telfer mill,hungry for ore. In our view,the market is valuing Greatland Gold shares based on a much larger resourceat Havieronthan the maiden resource announced in December 2020. Drillingresults to date have shown a significant mineralisation footprint, as well as continuity of mineralisation that, in our view, will support a mining operation for several decades suitable for both selective mining in the higher-grade sulphides and bulk mining in the lower grade breccia zones. Thus we have derived a valuation based on extending the life of the sub-level cave(SLC) mine outlined in our previous notes and also modelling a bulk-tonnage, block cave mine at Havieron over 25-year life, which is common for similar operations around the world. Changes to our Havieron DCF model include addition of a block cave.
Our updated Havieron DCF model is based on our internal estimates for capital and operating costs, production rates, metal recoveries and payabilities. While we acknowledge an elevated margin for error in forecasting project parameters ahead of the completion of a scoping or feasibility study, we make our estimates based on an understanding of the deposit as well as our knowledge of economics of SLC and block cave underground mining. We update our SLC model to a 20-year, 2Mtpa operation, with mining commencing in late 2023. Our block cave valuation assumes mining commencing in 2028 with a two year ramp up to 18 mtpa, with the Telfer mill being filled to capacity with a combination of high-grade SLC and low-grade block cave mined ore. We estimate upfront capital costs for the block cave of US$1.5bn, based on our understanding of comparable block cave projects globally. Following the completion of the SLC in 2042, we assume a 20 Mtpa block cave operation untilthe end of the mine-life in 2053.

(cont'd)........................................

RCGL2 - brilliant and deep find..well done! KM ..the best thing since solg was made legit!
Makes you wonder why Jason Ward and Steve Garwin wern't sacked! What the feck have they been doing up till now?
And to think - if KM and O'hare hadn't been brought in, we'd discover in late december 2021 that the project was way too expensive and too technically difficult. Makes your skin creep!
Better now than then eh?
All we need now is for KM to become the full time CEO - ditch the old guard and move on...Better still sell out!
Thanks RCL
Z

GGp - have u got a link plz?
Z

Hi Rich3r - hope your well.
I simply take issue with your comment: recognised currency....not going to happen for lots of reasons, a few of which will be:
1. Governments will ban them as a 'currency' (not an assett or trading platform). Because they won't be able to control them. So they can't ban them outright, so they will control how bitcoin interfaces with society (IE: pensions legitimate trading platform restrictions etc)
2. Too volatile. Can you imagine if they were a legitimate currency accepted by all: You buy a house on Jan 1st for 10 Bitcoin ($500k) and a couple of years later during one of its dips, it has dropped 30,40.50%...and you need to sell your house because of a job move or whatever??? By the time you buy elsewhere, it has spiked 30%???
3. Bitcoin is the currency of choice by organised criminals.....no tracing, no tracking.
4. Crypto is not backed by legal entities in the event of technical problems.

I understand it is a great medium for trading....if you are quick or brave or both. But for anything else...forget it.
The future is most definitely: digital currencies which are already here....not cryptocurrencies.

C'mon - you already know that, you're winding us all up ;)
Z

Thought you were serious there for a minute Rich3r!
Z

Only another 6 years Novice!
Z

The drop in todays SP smells of GDXJ all day long - rerate in the wrong direction maybe? Offloading?
Z

Jvetch - you get this occasionally. No harm done you would think...but there are newbies or latecomers on here who cling to anything like this to support their decision making.....Bad ethics methinks.
Unless the poster can support the calcs....they should be more responsible with their wording.
Z