Member Info for zoros

Bamps-it doesn't answer my query?
Z

Covgaz - Xi asked putin to delay any activities until the end of the games.
Secondly, last night the russians confirmed their troop activities on 3 fronts would end on the 20th Feb.
Now either they'll go home or they will invade.
Unfortunately, Putin is now cornered, diplomatically and economically with all the threats from our side. What do you think he'll do?

So one either parks ones stash into cash and waits for the storm to blow over or hold and be exposed to weeks/months of market corrections until it recovers.

Do you feel lucky,,,,,,,,punk?
Z.

Thanks Walkabout and Bamps.
For the sake of argument I have accepted your pov but just want to close the loop on this for my own piece of mind, if I may:
You say the MRE2 will take into account the increase in volume of sulphides which is why we are leaning more and more towards 3Mt/yr. This has been clear from day one as the 2mt/yr quote becomes history .
That being the case......if the volume increases (because of the 'new' sulphides), so too should the amount of gold in that sulphide volume.
GGP Growth Update presentation (page 10) advertised 2MozAuEq from 2Mt/yr for 9 yrs and the FS proposal is 2.9MozAuEq from 3Mt/yr for 11 yrs.
So here GGP mentions an increase in tonnage (as you clearly explained) but the second part of that calculation is that with this increase in tonnage comes an increase in amount of AuEq.
So even though SD didn't specifically mention volume or amount of gold in his recent podcast, when he said they have already achieved 50% of their target for the FS, he must have meant the volume is 'over half way there' (50%), increasing from 2m - 3m tonnes AND the additional gold in those sulphides needs to be added to the gold already advertised in the PFS (2 - 2.9MozAuEq). This is what I stated much earlier on.
Have I missed something?
Z

Good morning to you.
I stand corrected regarding the 50% increase on the PFS...for the FS.
I need to understand why you state its the tinnage and not the Oz?

Since the PFS, infill and growth drilling have provided SD with increasing volumes of resource grades. So I would assume that his team could assess how much extra gold they are acquiring as these grade results come in.
How can there be a 50% increase since the PFS - in tonnage, then? How have they assessed that they already have a 50% increase in the previous 2mt by way of volume?
Thanks for your time.
Z

Patrick, scroll back through approximately 20+ pages here and all will be revealed.
Good luck.
Z

Chinese games end on 20th Feb. Coincidentally troop exercises around Ukraine end on the 20th.
Expect invasion between 21st and 28th Feb
Z

Sandgrounded:
https://www.standard.co.uk/business/lloyds-bank-mortgage-10-year-deal-bank-of-england-interest-rates-virgin-money-b980050.html
Z

Tex - I'm expecting MRE3 to come out after all the 90Km of drilling has been assayed after the end of June 2022. So let's say 2 months for these to filter through.
MRE3: End of August 2022. September at the latest.

Hydro - do you think there'll be a PFS for the BUM?
Z

Hi Spoonkey - good idea, let's guess,,,,,,,,,,,,,,,
So SD says they are already 50% up on the 2MozAuEq total LOM contained, published in the October PFS. Their calcs suggest 2.9MozAuEq LOM contained for the DFS in Dec 2022.
SD therefore has on his desk 3MozAuEq from the bore holes up to end of last year. Feck knows what he will have in front of him at the end of 2022!
But to have a go at your Q, I am going for:
3.4MozAuEq and give or take 5MozAuEq inferred making a total of 8.4Moz from the remaining 54Mt of the catchment area flagged in the MMRE.
3 x brokers are looking for 10Moz in total in addition to the PFS result and reflecting this in the SP @24p.
I think the SP for my calcs will suggest 20p tops.

Anyone else?
Z

Production Q4/23 still likely it seems which is good news.
Starbright, yes I thought that too. GGP has come up with their 5% figure by now I suspect and it needs to be atleast £100m to clear their debt to end up on what SD says it’s an “even keel “.
IMO, he knows that NCM are going to come calling for more capex either for the starter mine and/or the BUM.
Based on that, he’s building in debt securities.
Glad he mentioned scally and Ernest Giles.
Icing on the cake: In the growth update presentation last October it stated that they were looking at the 3mt/yr SLOS based on 2.9moz from the FS. 4 months in and they have all already achieved >50% of this! I think we can safely say goodbye to the 2mt starter mine.
One of the best things about investing in this junior, is the frequent stream of news….. if you’re reading this GGP….. thank you.
Z

While we’re on the subject of copper:

https://www.mining.com/web/copper-discovery-cupboard-bare/

3 months ago but still relevant.

How much copper have we got?

Z

Hi Dip.
Here's your answer regarding the KPI's:

"...a broader disclosure intended within the Annual Report which will describe the performance criteria...."

From the man himself.
Z

Morning Napthman1 and Sandgrounded. A copy of my post earlier this week:

zoros
RE: Focus on The road ahead
06 Feb 2022 23:09

10th or 17th Feb. NCM December (’21) Mineral and Ore Resource report.
A summary of what they have in their inventory for the year (2021), at CoP December 31st 2021.
They advertise the PoG and Cu prices they plan to use in their upcoming calculations.
Some CiM and JORC definition reminders regarding "inferred", "indicated" and "Proven/proved Ore Reserves".

Meanwhile, floating about in the assay offices are 8 Havieron assays pending. Some additional (2) assays are pending @ Zipa. Maybe they will bolt these onto their presentation but historically - unlikely.

They 'may' wish to spread the news they have for us between the 10th and the 17th of this month because the 17th is going to be overflowing with news:
NCM Half Year results. (Possibly MRE2 results included*).
Next morning, GGP push out a reciprocal RNS.
5% valuation initial agreement date commences. IF agreed NCM has 30 days to buy the 5%. If it's not agreed - arbitration which as SD stated last week...could drag out (weeks?).

The ESG is incoming too but could be pushed out to March.

*note:
MRE(2)(Inferred) for extended SE Crescent and breccia / N. breccia zone. To include also, an updating of the previous "Indicated" resource amount.

Strap in.
Z

Ahhh the black swan event..............................like Ukraine you mean?
Watch this space just after the Chinese games end on the 20th Feb.
Z

Only the brits could moan about another persons success. One minute some posters are shouting SD's name from the hilltops, the next they are sticking pins in his eyes.
Look around you, look at other (established ) CEO's of junior miners in production are earning and then look at this incentive SD "might" get when GGP is in production 3 years from now.
Remember his performance will dictate what proportion of this incentive he actually receives.
[note to self: Hmmm that means GGP plan to stay on @ Hav].
What are his incentive hurdles: They will be many and varied but of relevance to us:
Improve shareholder returns.
Keep aisc's down.
Maximise annual resource throughput.
The list could be endless, but these are examples from his previous employers annual report (N Star).
If the SP (3 years from now) is £1 (as several on here harp on about), do we give a flying fig that SD just pocketed £12m? Do we? Or will we be too busy sticking our snouts in the trough, counting our own just rewards - provided by the hand that fed us (SD).
The BoD has faith in this guy and as a result wish to reward him handsomely, if he can keep the golden goose happy!
We will soon see the benefits of his hard work, starting next week.
Be pleased for him.....................
Z

RK and bubble, please try and remain consistent with your comments on here, ffs.
Both of you have binned me over and over again yet both of you continue to be reeled in by my posts. You just can't help yourselves can you.

Moving on.

I say again for the purpose of clarification....NO-ONE bids for a mine (Alpala/Cascabel) without the PFS atleast. If the company bids and it is accepted and then the PFS shows it to be uneconomical.....where does the egg on face land?
Get real lads.
(Not you Bubble/RedKnight and his wife - cos you've barred me).
Z
Red, are you sure you and your wife aren't Quady in disguise, as you are jack of all trades and master of none it seems.

Hi Lenz, did you spot the mistake yet?
"...Zoros, in the next few years we could see 3mt per year @4g/t = 12mg = approx 400,000oz with a profit on todays gold price of $1000/oz = $4bn .. so not a lot of time to wait. Oh and remember GGP share is 25% of that = $1bn..."
You're a factor of 10 out. Should be $100m/yr not $1bn/yr.

Here is what we know (from GGP's Growth Update Final report on their web site (Page 10 on the right hand side)):
NCM have calculated a throughput of 2.9Moz for 11 yrs @ 317kOzAuEq/year on average. "Steady State".
317Moz at an aisc of $643 ( £470) gives us a 'profit' of £845/oz.
Total profit/yr 317k x 845 = £268m
GGP's share @ 25% = £67m/year. (£5.5m/month).
So GGP will earn £67m/yr for 11 years (on average). NCM gets £200m/yr.
This is based on 3mt passing thru Telfer.
If we want to earn more, then the following needs to happen either in tandem or separately:
Commence B.U.M. (estimated throughput between 6mt and 11mt / year. The plan is to run the SLOS and the BUM in parallel.
Double the number of decline(s) or increase the width of existing decline to increase truck frequency.
Look at adding a conveyer belt between Hav and Telfer (45Km). (As well as the road).
Mine increased grades consistently within the SLOS.
Increase mine life.

Telfer is preparing to offer up one of its two trains just for Havieron. This currently has a capacity of 11mt/yr throughput. There has been talk of expanding Telfer.

Bit of a difference between $1bn/yr and £67m/yr.
Sorry to p*** on your chips!
Z

apols: aisc: $700 leaving $1100 profit/oz
Z

Hi Lenz.
I wish!!!!
Try again and this time I will improve on your figures...but do the maths again:
3Mnt ore
4.5g/t average.
Aisc: $1100
conversion rate: 0.73.
GGP share 25%

;)

Z

That's not the whole of the company.....keep up
When has anyone bid serious money to buy an entire junior before they know what is formally down there at this stage?
How does the bidder satisfy their due dilligence on behalf of the shareholders?
Think carefully pad before you answer.