Growth of Havieron

[Bamps21]

Four images from previous results

[Bamps21]

From results September 2021

[Bamps21]

From results June 2022

[Bamps21]

My overlay of Sep21 onto Jun22.
This is where you can see my upper and lower ovoid theory developing, which I could see from last April 21

[Bamps21]

This is the of the lower ovoid so far.
Still plenty of results to come to expand it to the North,NE , E and SE and of course downwards

[Bamps21]

This is where drill 55 is going.
It’s going to expand the high grade zone at the back of Western front mining zone = more ore in SLOS operation

[Bamps21]

A computerised plan showing all the Declines, accesses and stoping tunnels taken from the environmental report

[Bamps21]

Inset plan from Ggp MRE shows stoping tunnels to the centre

[P.I.Joe]

Fabulous images, a masterpiece in the making.

[Costa]

Fantastic work Bamps.

Great to see you here. If you need assistance with anything on the site just reach out to one of the crew..

[Bamps21]

This indicates the levels of stoping tunnels at :-
70m
130m
230m
280m
330m
To the left are the targets in the central zone and NW pod.
You can see the mining plan can increase very quickly from the second stope.
2m ton plan in PFS
3m ton plan in Ggp MRE
3m ton and beyond in FS
Sandeep interview mentioned 6m ton

[Bamps21]

[Bamps21]

Sketch of my lower ovoid theory from Apr21

[Gratitude]

Thanks Bamps, really interesting. Incredible when you look back and see how much it has grown.

[Digbydog]

Thanks Bamps great bit of work

[Pigswilly2008]

As always, I have followed your writings for the last couple of years in total silence and awe...always intuitive and full of great facts. Thanks to GGP help we can hopefully enjoy this board without all the controversial de-reampers upsetting many of the PI's that do not seem to know the difference between true or false. Happy days ahead but not for he market makers, hopefully every PI will now hold tight and even buy more shares now.

Thank you Bamps

[lebugue-addick]

Great post Bamps and good to see you were ahead of the game by your April 2021 ovoid thoughts.

I was just reading Sandeep's interview in February 2022 following the release of the NCM interim figures and it still puts a wry smile on my face when he talks about the huge work that needs to be done to release an MRE upgrade. Little did he know that Shaun Day already had one almost oven-ready! :-

"Stephen Henderson
Good morning, Sandeep. Sandeep, I was interested in the Havieron figures where the move from inferred to indicated resources was somewhere in the region of I think 0.6, 0.7 million ounces of gold. The actual overall resource doesn’t appear to have moved, particularly if at all, despite some phenomenal, real success. I’m just wondering if you would add a bit more colour to how that is being viewed.

Sandeep Biswas
We just haven’t put another resource around it, right? I mean, I think it is simple as that. So, once we, and now we have done a fair bit, I think we announced that, I can’t remember when it was, a couple months ago that we have done a lot of that resource definition drilling.

We are now moving more to growth drilling. We will be able to over the coming period, look at publishing a new resource, once all that data’s analysed and the various designs are put in place and what have you.

So, it is not something that we are not focused on. It is just that, it is got to be informed by the drilling. And then as you know, there is a pile of work that is got to be done before you can under the JORC code, register it as a resource or reserve.

Stephen Henderson
Yes. And so, any further upgrade to MRE2 for one of a better phrase. Is that in any way, linked to the negotiations for the additional 5%, which I take it are off on the run now, there is certainly the window for that to commence was the middle of February, I just wonder if any of those are linked in any way?

Sandeep Biswas
It has commenced. We commenced those discussions in December, but it is not linked to that. I mean, that follows a very different process and this is more technical driven, as opposed to anything along those lines.

Stephen Henderson
So, one could expect to see an MRE update independent of any, what could be, what could be a lengthy process, in the 5% negotiations, depending on whether agreement can be met?

Sandeep Biswas
Yes. We, we don’t want to couple those two things. I mean, one’s project related, the other is a discussion between two JV partners".

[GoldenI]

Looks like 'Bamp's Baby'

[paddygall]

Great post Bamps and good to see you were ahead of the game by your April 2021 ovoid thoughts.

I was just reading Sandeep's interview in February 2022 following the release of the NCM interim figures and it still puts a wry smile on my face when he talks about the huge work that needs to be done to release an MRE upgrade. Little did he know that Shaun Day already had one almost oven-ready! :-

"Stephen Henderson
Good morning, Sandeep. Sandeep, I was interested in the Havieron figures where the move from inferred to indicated resources was somewhere in the region of I think 0.6, 0.7 million ounces of gold. The actual overall resource doesn’t appear to have moved, particularly if at all, despite some phenomenal, real success. I’m just wondering if you would add a bit more colour to how that is being viewed.

Sandeep Biswas
We just haven’t put another resource around it, right? I mean, I think it is simple as that. So, once we, and now we have done a fair bit, I think we announced that, I can’t remember when it was, a couple months ago that we have done a lot of that resource definition drilling.

We are now moving more to growth drilling. We will be able to over the coming period, look at publishing a new resource, once all that data’s analysed and the various designs are put in place and what have you.

So, it is not something that we are not focused on. It is just that, it is got to be informed by the drilling. And then as you know, there is a pile of work that is got to be done before you can under the JORC code, register it as a resource or reserve.

Stephen Henderson
Yes. And so, any further upgrade to MRE2 for one of a better phrase. Is that in any way, linked to the negotiations for the additional 5%, which I take it are off on the run now, there is certainly the window for that to commence was the middle of February, I just wonder if any of those are linked in any way?

Sandeep Biswas
It has commenced. We commenced those discussions in December, but it is not linked to that. I mean, that follows a very different process and this is more technical driven, as opposed to anything along those lines.

Stephen Henderson
So, one could expect to see an MRE update independent of any, what could be, what could be a lengthy process, in the 5% negotiations, depending on whether agreement can be met?

Sandeep Biswas
Yes. We, we don’t want to couple those two things. I mean, one’s project related, the other is a discussion between two JV partners".

Hi LA,

It's been a while since I read the text of that exchange between Stephen & Sandeep, it makes me smile to see what Sandeep actually said. He must have been a bit wrong-footed by the questions as he seems to be uncharacteristically unguarded with those comments. For him to state categorically that the MRE upgrade and the 5% were totally unrelated while at the same time he was pushing for GGP to accept a 5% offer based purely on the PFS report makes him look a little foolish.

Thankfully Shaun could see the writing on the wall and while he has said that the prime reason for producing our own MRE was to help secure the funding it has served to put Sandeep and co on the back foot as regards the valuation. So hopefully we are only weeks away from the resolution of that now and the financing (should we need it) will follow on in close succession IMO and then both NCM & GGP can go to Diggers & Dealers (after the next set of results on the 21st) in early August and can again both sing from the same hymn sheet about how great Havieron is and how it is going to be the saviour of Telfer.

ATB - Paddy

[DipSard]

Reading the GGP MRE and really focusing on the detail and methodology has been so interesting as my initial attention was so focused on the overall numbers and increase from the Newcrest PFS etc.
Having looked in greater detail at the notes and methodology in the MRE, it seems to make many direct comparisons to methods used in the Newcrest PFS and to me gives a very strong indication on the MRE being as much for the option exercise as for the funding and Shaun alluded to this in recent interviews.
Having built a better understanding of how everything was calculated in the MRE, I feel it puts forward a very strong case towards FMV purposes and I'm optimistic about the outcome if that level of quality and work has gone into the overall valuation submitted by our team, which I have no doubt has been the case.
As we know CAGR is also a key focus from Shaun and as can be seen from Bamp's brilliant thread here - we're well covered in being able to show evidence of growth from the previous drilling and potential growth moving forwards