Telfer Mine Life - 20 years is being suggested ...?

[Hydrogen]

Rumours seem to be swirling around, that the 'Greatland people' 'believe' Telfer has not 5 years mine life, but maybe 20 years... Here are a few separate apparently independent sources that appear to be from Telfer workers, following meetings in late November :

I can't vouch for any of this - but I have put feelers out to try and verify: I guess the key question is motive - Why would a poster on Antipa Hot Copper BB start swinging his axe posting what some argue as "ramps' about Greatland - that is a fair question?

Paddy observed this and was chatting to a poster Happy Da and queried this unambiguous statement ( made a few weeks back) :

I know memories of Joe Bass rightly gives many the fear... ( I cannot help wonder if that was one of GH's LSE accounts - Apparently he had 'multiple' social media accounts... )

but this guy seems interesting. https://www.lse.co.uk/profiles/johnb31/

And then we have our resident Telfer contact Shiny -

Maybe @shinybits can offer thoughts? I asked my friends to do some digging.

[Shinybits]

My understanding is that employees were indeed told there was a 20 year plan… BUT that is reliant on Haveiron’s dirt so it’s 20 years for the plant, not necessarily processing its own resources. It was probably a statement to foster some confidence in job security to help allay any fears there may have been regarding potential layoffs or redundancies (which is not to suggest it isn’t true).

There is also confidence in the potential utilisation of other nearby deposits acquired in the purchase as well, given the hungry mills can process a lot more dirt than can be brought from Haveiron, but I wouldn’t think that would be near term as getting Hav online would surely be a priority.

[Rotherby]

Thanks again Shinybits

Until GGP have done the work on finding out what there is at Telfer your statements seem correct, but the impression that Shaun gives he things there is a lot of life in Telfer mine.

Based on his previous purchases of assets from Majors, that even though they all had short mine lives (approx. one year), they continued to find ore and process it for at least 10 years.

I can well understand why a major would take there eyes off the ball, as they have 'even' better opportunities in other parts of their businesses, the ROI where end of life mines is concerned most likely cannot compete with other projects.

Small companies (tongue in cheek 1 billion £UK small!!!) are lean without the overheads of the likes of Newmont or Barrick.

Next year I expect the life of Telfer mine will be at least 5 years and by the end of the year, past 10 years, I am looking forward to seeing the next years development.

I am sure we will be looking at this on Saturday in Derby, an interesting meet at a great venue, looking forward to seeing quite a few of you there. (PS there are a very few spaces left)

[Hydrogen]

Thanks for clarifying Shinybits, that makes sense and ties up with the SRK report.

I thought this comment was interesting from Johnb31

"When they were bought out the management changed and the priority was to not spend money. One been West Dome deeps that for many years has thought to be a mirror image of the previous underground main dome orebody. Over the year's Newcrest has been developing this drive on and off. That's what we are waiting for now the results of the drilling"

A mirror image makes perfect sense from a geological perspective.

I recall reading somewhere that one single reef that was just around 1m thick - the M40 maybe? - was such high grade that it produced something like 30% of all of Telfer's gold. If we can find that repeated under the West Dome that would be incredible.

This is Telfers production over the past 25 years. Only two years out of 25 were reported as sub 300koz.

[ManFromUruguay]

"This is the best time to own Telfer since 2005" Quote Shaun Day. I hadn't realised that in 2005 the Production went from c 200k ozs to c600k ozs wow!

I cant imagine that repeated but it is some statement of confidence from Shaun and must have substance to it

GLA MFU

[Rotherby]

"This is the best time to own Telfer since 2005" Quote Shaun Day. I hadn't realised that in 2005 the Production went from c 200k ozs to c600k ozs wow!

I cant imagine that repeated but it is some statement of confidence from Shaun and must have substance to it

GLA MFU

Brilliant, lets hope we can increase the production by a factor of 3, in 2025, that would be Bonanza time

[poniexpress]

Hydrogen,
Thank you for your many informative posts on many issues.
I was contemplating doing additional research on production potential at Telfer based on the First Telfer Gold GGP RNS.
As a starting point I wanted to find out Telfer gold production figures since my last research on Telfer in 2015/8'ish.
Hey ho. You have published the figures here which saves me a lot of time.
My thoughts on this topic (Telfer mine life) completely support the claims that Shaun has indicated. The fact that Bamps (whom I also respect/trust implicitly) is also excited by the potential drill results etc in the Main Dome Deeps (amongst others) that were done in the past and have not been officially reported yet as far as I know by either Newcrest or Newmont augers well for the future of Telfer.
I have no doubt Shaun is conversant with the situation with the due diligence involved in the deal between Newmont and GGP.
I think the future is ever brighter for GGP.

[Irish24]

As long as Telfer pays for Havieron to be completed and is there to process the ore then anything else is a bonus... a welcome one.

Seasons greetings to all, especially to Shaun and the Greatland Team and their new colleagues.

[Fredericksson]

Based on this mornings news update, Telfer could be good for another 10 years. Plenty of time to get Havieron up and running

Telfer gold resource - 3.2M Oz
Initial mine plan production - 374,000 Oz over 15 months
Gold mine life - 3.2m / (374,000 / 1.25 years) = 10.7 years