The man himself. A consummate professional, was very very impressed with his openness and his answering of questions. Well worth the next one folks. Certainly got a hell of a lot more than from the webinar! Donald is just as much of a ¥#*% in real life tho!!!!!
He wouldn’t be drawn on a SOLG comparison, my question was on drill spacing in relation to jorc and he summarised my understanding that jorc will be different according to the ore body, there is no set rules for spacing etc! So fair enough. No comparison to SOLG and others, that’s not how it works.!
Sd confirmed that cadia model with a direct conveyor not just the 9.1km Bamps suggests, but all the way to telfer in a straight line!!!He thinks this is most likely due to NCM experience at cadia aus most profitable mine!!!!. I agree.
But he also agrees with Bamps that a hoist or as he calls it a shaft, is actually right now the most obvious scenario over a conveyor and that NCM are considering all possibilities, his opinion is conveyor tho!. But he did stress he believes whilst NCM have promised to investigate all possibilities, the conveyor and their experience in this area is the most likely.
He confimed that the drilling will speed up considerably once they are down to the rock face and that exploration pads will be set up and this will speed up both growth and infill and reduce costs and time.(assays still 10 weeks so slow but helped by NCM clout) He said first 600m they could be doing say 100m vs 20m down below 1000m as far as drilling goes, so a big improvement in both efficiency and time and infill capability once we hit the ore face.
He confirmed that the 8000 per vertical meter he hopes and expects to continue from the 600m reading they have now, right down the way and confirmed the consistency of the ore body stating that an 86% conversion rate is the highest he has seen in his career. This was in direct response to the telfer mining 13moz of their 27moz, ie we will likely have a higher overall recovery from our ounces.
He compared our 8000oz per meter to other tier ones and drew the point that Cali and others whilst at the 8/10k per vertical meter, we’re spread across a 3km strike length, we are 600m, so far more compact and economical. Yes please!!!
He confirmed any conveyor decline would be faster to construct and would run in a straight line not a figure 8 or spiral. It would need to be far smaller than a main decline. It could run all the way to telfer as stated earlier.
Calum has obviously stepped back but we knew that. Grapevine tells me that he is still planning on a buyout exit. When asked when NCM would put in the second decline, he answered, the day after they buy haverion. Fits with my thesis, but after meeting SD tonight, I’ve moved from 96% sure of a buy out to, hey, this guys wants to create a beast and he will fight hard in a buy out scenario. You really got the feeling he wants a legacy, he was very upset at the thought of losing 5% and I really came away with a feeling that this Chap could do exactly what Sprott are backing him to do, northern star 2.0(he is still invested in northern star too)
Ok, that’s all I remember from my notes and in my drunken state but didn’t want it to go stale.
We are in good hands folks. Had a real impression we are going to grow into one of the biggest mining houses in Aus. Really did. Confident and very switched on.
The 5%……
He wouldn’t be draw obviously, but unless I got it wrong he intimated the rns is drawn and that he wished he could talk more about it, lol, ok I’ve genuinly run out of space ,telegram says no
He is going for 100% debt, like a mortgage he knows they may only accept 95%, the other 5% may have to come fro a raise/5%/equity. We spoke a bit about having access here and primary bid, people mentioned options and I was glad he agreed with me, there is F**k all need if we have to raise to give people options, we are not an aim minnow anymore, I’m pleased he agreed if we raised, unlikely to be options attached but that he would do all he could to allow us all a chance to invest and not rush just with primary bid. Works different in aus in that you have 48 hours , we had about 3!!!!!
So a placing alongside the debt isn’t impossible. Having said that. What I love is it appears he is looking at 100% finance discounting the 5%, he rationalised this by saying if NCM want to put 8 drill rigs at the base of the decline, we would like to have he cash to tell them to put 12! Fucking loved that comment personally!
This man is one of the big boys folks. The grateful thinking was what impressed me most. Just look at that rns today! The man knows his Poop and he is doing all he can. The GGP mre only begun after NCM didn’t release i feb! They worked day and night and weekends to get heirs out as they were caught offguard! I think whilst our sp isn’t anything to cheer about, it’s clear to see SD and team have saved us a hell of a lot of value by doing our own mre 2 with was double peer reviewed. He Also intimated if NCM didn’t agree with it, they would have as immediately, ie he believes NCM silence was a tacit acceptance. Ofcourse we used their own consultations which I think wa a master stroke, they stuff to NCM metrics from the pfs also, not leaving NCM with much room for argument. I had a distinct feeling we may be the winners of the 5%, but also that the staring lost needs to be understood. A win may look different to what we hope or expect! I’m F**k it, I need too walk home now, been sitting on a park bench typing this for the last 4mins! I apologies I’m advance for my spelling, I’ll check this over in the morning.
Night all!!
lol, this is funny! I didn’t realise telegram had max characters. So I’ve been trying to correct my long post! But I can’t lengthen it in any way. It’s like a cruel game played on a drunken fool. I want to look less of a fool. But I am unable
night folks! Overriding feeling of absolute confidence in both management and asset. That’s coming from someone who is all in in pension and isa and frankly everything else. I’m gonna sleep just fine over the coming years. So great to meet a few of you. Wished I could have chatted to everyone but there were a fair few people there and obviously SD was the focus!
Shout out to James and Nitram. Great to finally meet Jamie(magic the legend) in person. Wonderful to briefly meet Bamps but wish we could have chatted more.Jerry, always a pleasure.
Something I found interesting was on my way out, I chatted with an Indian gentleman for a while. He hasn’t invested yet and saw the banner on LSE and came for the presentation. Needless to say I promptly told him how fucking lucky he was. Explained the salient points and guided him to potentially join telegram and GGPchat and consider investing after the 5% in the coming months. Man oh man. I sold the hell out of it
. I’m in the wrong profession. Night allOh, I almost forgot. I asked if they had been given the DSG data from Newmont that was previously covered by the NDA when they walked away fro
EG and said “not at this time” and if we could use that for Our next campaign at EG.
I’m not sure he answered but I think he said yes.
home safe and off to bed! Night folks…again