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Re: Expectations from NCMs MRE
Posted: Fri Aug 19, 2022 9:35 am
by Lazysail
Hi - I found it interesting that Shaun congratulated the in-house tech team for getting almost the same resource estimate as Newcrest in a very compressed timescale - the small difference being attributable to a couple of weeks difference in the cut-off date.
Could he be prepping us for a new resource estimate from GGP with a cut-off of say end May/End June?
The market may be more willing to accept this as a reasonable estimate as we were very close to Newcrest's number the last time.
regards
Lazysail
Re: Expectations from NCMs MRE
Posted: Fri Aug 19, 2022 5:57 pm
by lebugue-addick
As I said to Rational Assessor a couple of weeks ago (below) I feared Newcrest might do the dirty and base their MRE on 8 month old drilling figures. Seems like some things never change in the world of NCM. Greatland produced their 3 March update inside 6 weeks. How credible is it for a major player like Newcrest not to be on the ball. Different agendas and a different set of shareholders.
I see no reason now why Shaun would not be entitled to prepare another MRE after the drill results in early September or late October before Newcrest issue the Feasibility Study. Stick it to 'em Shaun as Donald Leggett would say!
lebugue-addick wrote: ↑Tue Aug 02, 2022 11:43 am
For me one question to be answered is whether Newcrest will be cautious as to ounces in their next MRE update because of the data cut off point. The 12 October PFS drilling cut off date was February 2021, a full 8 months earlier. Now if we get another MRE update around NCM's results date (19 August) as anticipated will Newcrest also cut off at December 2021 just as Shaun did when he produced GGP's updated MRE in March? If that is the case then we may just see a broad re-iteration of the 6.5m oz Au equivalent at best.
I say "at best" because Newcrest have always been very conservative in their estimates, a point which has not gone unnoticed by both Shaun Day and Sprott for example.
This is shown in comparing the economic assumptions used by Newcrest and Greatland at the time of the October 2021 PFS
Re: Expectations from NCMs MRE
Posted: Sat Aug 20, 2022 9:32 am
by ManFromUruguay
All credit to you l-a you were absolutely spot on !
I agree that prior to or shortly after FS would be appropriate as another 12 months drilling is worthy of an update
GL MFU