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It was flagged up that this would be based off March 21 data, so this is what was expected.
Read carefully, though. The capital cost for HAV is the lowest ever for a tier 1 mine (as it will be). Impressive. We now have an AISC number too, that looks good as well.
Once we get the MRE upgrade in Dec, we now have the numbers to work with this.
We have a mine, and only two years from NCM jumping onboard = unbelievably quick.
Happy Falcon.
Absolutely Falcon. The II's will love this news
Exactly WF. too many not reading what's going on and just dreaming up scenarios from a few figures.
Going to mine, 1st stage PFS.
GROWTH POTENTIAL
The Study only considers the Indicated Mineral Resource which is a relatively small proportion of the existing
resource inventory. The Havieron project has significant additional growth potential including:
? Conversion of existing Inferred Mineral Resources
? Mineralisation open at depth and along strike
o Extension of the SE Crescent Zone below the current Mineral Resource, where increasing grade
and thickness of mineralisation has been observed in recent drilling
? Expansion of multiple higher-grade targets within the main Havieron NW corridor, including the Northern
Breccia and NW Pod
? Potential for additional NW trending corridors including the Eastern Breccia; and
? Potential to discover additional mineralisation centres (at Havieron North, Zipa and Meco)
In addition to the active testing of the above higher-grade targets, drilling continues in the northern and eastern
breccia corridors to assess the bulk extraction potential.
At the SE Crescent, drilling has extended the high-grade mineralisation ~250m below the base of the current Mineral
Resource with two recent drillholes (HAD133 and HAD133W1) returning intervals >900 gram metres (Au ppm x
length). These new intercepts show an increase in both grade and thickness with increasing depth. Drilling continues
to assess the depth extents of SE Crescent which now has a vertical extent of over 900m.
If you check the cross section they have literally gone to print that they know the ore body is over double the size of the MRE (see the key)
Very special as expected, throw in tomorrow morning's presentation and I would like to this that the minimum sp you will see come close Friday will be 25p. As always time will tell but looking very good post tonight's revelations!
Jonesrichard.
Just go away. You are a complete no nothing spoofer. As I previously said, go and ramp somewhere else. You are just a damned nuisance with your incessant wittering.
It also answer the question as to the option of 5%
One year from November/December this year (two different dates given)
If they want 5% the need to start talking to SD very soon.
Southwestern - I feel really sorry for you. You are trying so hard to cast negatives out of zero supporting evidence. How can you disparage an initial analysis that gives an average indicated grade of 4g/t. Perhaps you can find examples of other projects, either current or historic, that compare to this, or to the Capex figure, or the AISC, all with high assurance of massive upsides to come over the life of the project.
Guess a timeframe had to be set as cannot continue to drill indefinitely with area still growing.
Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said “It is an incredible achievement that, within two years of starting the Havieron drilling program, we have been able to deliver this significant project milestone and demonstrate financial returns that comfortably exceed our hurdle rate, even in this first stage. The Pre-Feasibility Study underpins an initial Ore Reserve estimate for the upper section of the South East Crescent Zone which increases our confidence in achieving first production in FY24 and triggers our entitlement to a cumulative 70% Joint Venture interest."
"We believe that this is just the first stage of a bright and profitable future for Havieron. Our extensive drilling program
continues to assess the extent of the South East Crescent Zone and further test the Northern and Eastern Breccia for mineralisation which may be suitable for bulk mining methods. We have recently delivered several new and exciting high grade intercepts which extend the high grade mineralisation beneath the initial Mineral Resource estimate and highlights the potential for further resource growth”.
“Notably, the Study assumes that Havieron is the sole ore feed for the Telfer plant and does not assume any potential upside from the extension of Telfer’s mine life beyond FY24. We continue to assess the potential for further open pit and underground opportunities at Telfer to extend its life and supplement production from Havieron in FY24 and beyond” said Mr Biswas.
Well - there it is, the confirmation (if it was ever doubted) that we are going mining at Havieron. While the indicated oz's (which the PFS was always going to be based on) might not be to everyone's satisfaction - it more than justifies the outlay of capital that NCM & GGP have spent so far and leveraging the Telfer infrastructure means that we will be mining and turning a profit sooner than ever.
The other 1.7Moz of the inferred will be converted to indicated in due course and all the growth drilling since February will be included in the inferred upgrade in December - the PFS also shows the mind bending exploration upside associated at Havieron with every direction and depth still open at pretty much every target area.
I'm liking the new NW Pod (previously the NW closure) and that is still open to the NW - heading towards Lake Havieron. This is the first staging point on a long journey - but a very very important one.
Let's see what Sandeep has to say. ATB Paddy
Lots of figures and wording in the document and for many it's not in layman's terms. Some posters on here can (and will) throw figures about and make statements to fit their own narrative.
I would assume for most people the document will probably be a bit complex and will not give a reasonable estimate of where they expect the SP (really the main driver of people's needs).
If you're here for the long game then why worry what the SP will be tomorrow or even next week. The fundamentals have not changed and the PFS is a process requirement for NCM to provide documented evidence to proceed to completion of their buy-in agreement and decision to mine.
The following statement is in the document:- "over initial 9 year mine life" - simply this means they are going to start mining at Havieron; of course since the decline started then no-one on this board thought anything different (apart from a few trolls), but technically the PFS release confirms in writing that Havieron will be a mine - what's to complain about.
GLA
I am no expert on mining - but 1) this is going to be a mine 2) what was going to go into this PFS wasnt decided yesterday 3) and Newcrest are still drilling flat out- this is going to be a very special mine with no sign of drilling easing -it will take time to know exactly what we have and just as importantly why -the latter to enable the company to grow
Floater hi, forgive me for asking but I cannot find where it confirms that approval will be granted to proceed mining? As I said earlier I had no doubt we will mine but I can’t see the exact wording.
Cheers
Tom:-)
Hi Tom - you are correct that in the document there is no 'approval to mine'; so maybe a bit more of expectancy on my part , but taking into account the statement " over initial 9 year mine life" then in my thinking it means that they have a plan to mine using the figures provided in the document.
I never said in my other post there were actually any approvals to mine, but apologies if it was maybe implied and if there was any confusion. I should have probably said 'the PFS indicates progress to the FS and decision to mine'.
Floater hey, thanks for confirming as I was unsure From reading some of the posts. Maybe this will be confirmed by RNS soon.
Cheers
ATB
Tom:-)
Took me a while to get everything in my head and processed but popped on here to see the reaction and pleased to see Paddy, Hydrogen and a few others already post similar thoughts to my own. Newcrest have delivered what they said they would and for data that is only up to February 2021. I think what's vitally important is that investors on this board, telegram and those lurking in the background read this document and understand that
1. This is really the start of the numbers and documents that Havieron will be spitting out
2. Plenty of inferred resources to be converted into indicated resources from data up to February alone
3. Numerous drill results outstanding and already reported that are not included and we know will no doubt increase the investment case
And lastly that the Ore reserves is what the pre-feasibility study economics is based off of. That is based on the indicated resource figure. The inferred + indicated resources are the 3.6Moz + Cu (or 4.2Moz Au equivalent), no gold has gone missing XD XD. Saw some early posters making this mistake mixed with the derampers so please avoid that. For me the publication of the PFS by GGP/NCM marks the beginning of a transition for GGP from junior explorer to the road to producer and that is rather exciting!