Highlights from GGPHelp Interview with Shaun Day Q4 2022 Update - 25 Jan 2023

[DipSard]

Highlights from GGPHelp Interview with Shaun Day Q4 2022 Update - 25 Jan 2023


Interview:
https://youtu.be/vjuurXQdPC0

RNS:
https://greatlandgold.com/wp-content/up ... Update.pdf

- Shaun has previous experience with NCM’s new interim CEO Sherry Duhe, has also met her in her previous position as CFO and she thinks very highly of the Havieron and indeed Telfer platform as part of their portfolio
- There is an expectation that the new Board members intend to make Director buys at some point but no definitive statement
- ASX compliance listing is planned for first half of 2023, not planning at this stage to use it to raise any equity
- E.Breccia continues to grow and has doubled in grade making it very attractive for mining
- Existing decline maxes out at 3mtpa but there is a desire to bring Train B at Telfer to its maximum 10mtpa capability through opening up a second mining front incorporating the E.Breccia on more of a bulk mining basis to achieve this via 6-7mtpa production rate
- E.Breccia seems to be the best place to do so based on location at bottom of the ore body and the bottom-up mining methodology for a block cave and at some later point you could reuse that infrastructure to tackle the northern breccia again in a bulk zonation
- But for now, very focused on the SE crescent, sub level open stoping (SLOS) and that is the immediate focus of the study to get that cash flow. And then once you've got free cash flow the future developments or upsizing of the mine can be self-funded.
- Submission of stage 2 mining plan to EPA expected in March quarter, probably earlier rather than later
- Demobilised all the rigs from Havieron over summer, this late December early January period for reasons along giving FIFO staff additional time with families alongside conducting scheduled maintenance, initially remobilising 3 rigs in Feb to recommence drilling campaign but in 2023 primary focus will be on drilling out S.E crescent
- 2022 focus was on understanding the E.Breccia to understand the system better but now refocusing on SE crescent which is the initial mining area and very high grade
- Additional targets are being looked at on the Havieron mining lease and Scallywag and JURI JV along the strike from Havieron in the Paterson
- Plan is to get around to drilling Ernest Giles this calendar year once final access agreement can be concluded and also looking to start work at Panorama and Bromus this year
- Newcrest’s annual MRE reporting will be based around August FY reporting in future vs HY in Feb, Shaun’s strong preference currently is to remain aligned to Newcrest but if they feel Newcrest is unnecessarily delaying a resource update, will continue to have the courage, conviction and focus to go unilaterally and publish their own
- Greatland would have preferred the DFS to be published last year but support Newcrest’s desire to pursue optimisations and improvements although with a strong desire to bring in additional resource which can be included as part of a feasibility study
- With Newcrest being TSX listed there are restrictions around the study in that you can only include reserves and a relatively small percentage of material outside of reserves which is incremental to the mining shape within your study rather than including entire areas of appraisal, Newcrest would seek to have compliance here but this has always been a limiting factor on Newcrest studies in that they've always been confined to reserves notwithstanding, which is only a fraction of the overall size of Havieron
- First income from Havieron is still pegged for June 2024 and Shaun thinks they would be in a position to start stoping in early ‘24 and there is no information right now that would suggest that more time is needed
- In terms of understanding base metal opportunities at Havieron (Nickel), Newcrest are likely to be more comfortable announcing this if there is a strong probability of it being economically recoverable
- Decline now stands at over 1500 meters of decline advancement (stockpile development and passing bays) and in terms of change that is actual decline development it is probably closer to about 1300 meters
- In person discussions along with new board members have led to Havieron optimisation methods being considered such as the application of EV’s, Electric Fleet or other systems of power generation leading to cost benefits such as less diesel particulates leading to less ventilation and diesel storage and transport costs etc.

Download link:
https://www.mediafire.com/file/yayb8j4o ... 3.pdf/file

Link for full notes:
https://www.ggpchat.co.uk/viewtopic.php?t=650