Greatland Gold Share Discussion Threads

[paddygall] 20/7/2020 07:30

More activity at Scallywag this morning - getting exciting now.





Looks like they've moved further East into the London target, wouldn't that be sweet - a monster find at London.


Cheers Paddy

[timberwolf] 20/7/2020 07:24

Decca Records in 1962, "..the Beatles have no future in show business." ;-)

[pr0t0n] 20/7/2020 07:20

Yes, found it :

In the late 1990s and early 2000s, Newcrest completed six historic drill holes at Havieron

[pr0t0n] 20/7/2020 07:17

Yes Tel, exploration with new high tech as well as mining have improved over the years.
Perhaps Havieron was deemed to be beyond their capabilities at the time.
Was it late 90`s when their first and only drilling campaign took place ?

[telbap] 20/7/2020 06:57

@proton.......oh the irony, someone at NCM will have had a real flea in the ear! Or is it just improved tech which allowed CB and GH to "see" deeper and passed the cover sequence to be able to hit the sweet spot?

[pr0t0n] 20/7/2020 06:01

Thanks Mirabeau,

I went through their news release.
Only two of the targets were previously drilled with not so stellar results.
The rest of the targets *in an area of no historical drilling*.
That`s the big difference.
I believe they have one or two large deposits considering land size but they`ll need lots of luck.
Well, Newcrest did all drilling and hard work in the `90s and `00s surrendered the tenements and GGP picked it up few years back.
Historical drilling and reports certainly helped Callum Baxter in choosing priority targets.
Now NCM wants all these tenements back... you couldn't make this up ..lol
For a good price I hope ! :-)

[mirabeau] 20/7/2020 00:27

Antipa-Newcrest farm-in with the number of Havieron references 'off the scale' at 24, yes 24 references to Havieron

[paddygall] 19/7/2020 22:15

Generational change is under way at Newcrest Mining, challenging investors to determine whether Australia's biggest gold miner is poised for growth or terminal decline.

A fork in the road has emerged in the past year, amid confirmation that two of Newcrest's most important three mines are past their peak.

Newcrest Mining is trying to disprove perceptions its best days are behind it. Erin Jonasson

Just as Australian cricket floundered after stars like Dennis Lillee, Rod Marsh and Greg Chappell retired simultaneously in 1984, analysts had predicted a lean period for Newcrest in the middle of this decade, as its Cadia and Telfer mines started to fade away.

Gold production at Cadia peaked in fiscal 2019, and is expected to halve by about 2025, ending its reign as the nation's most lucrative gold mine.

Cadia's long decline will leave a mighty hole; the NSW mine has provided more than half of Newcrest's revenue and more than 75 per cent of earnings in recent times.

The end of Telfer's life in 2024 is less significant for earnings as the mine has struggled to break even in recent years.

But Telfer still provides about 17 per cent of Newcrest's gold production, and its demise would reduce the company's exposure to further rises in gold prices.

Sovereign risk in Australia's northern neighbours has only added to the challenge; Indonesia's protectionist streak forced Newcrest to sell down its stake in the Gosowong mine, while Papua New Guinea has dragged its feet on approvals for the project that would provide much-needed new blood, Wafi Golpu.

The most optimistic assessment of Wafi-Golpu has first production about five years away.

So while record gold prices have recently driven Newcrest profits and shares to seven and eight-year highs respectively, analyst commentary over the past year has focused on the looming trough in gold production and earnings.

Analysts at Macquarie last year warned that Newcrest's gold output could fall from almost 2.49 million ounces in fiscal 2019 to just 1.5 million ounces by 2025.

Newcrest chief executive Sandeep Biswas has been busy writing cheques over the past two years in a bid to change the narrative, including spending more than $US700 million on multiple types of exposure to Ecuador's Fruta Del Norte mine.

But far more pivotal to Newcrest's future will be two investments made in March 2019; the $US806.5 million acquisition of 70 per cent of Canada's Red Chris mine, and a $US60 million exploration partnership with Greatland Gold.

Both investments require exploration success to be of value to Newcrest, meaning the company has a lot riding on the stream of drilling results that are now coming to light.

At Red Chris, Newcrest is hoping to turn a marginal mine into a cash machine by proving that high-grade copper and gold exists deep below the existing pit.

With Greatland Gold, Newcrest is trying to find gold close enough to the Telfer mine so it can extend the life of the infrastructure that is already built in Western Australia's Great Sandy Desert.

In the past three months analysts have become more optimistic that both goals can be achieved, particularly at Telfer, where drilling results in June showed the nearby Havieron discovery to be larger and contain higher grade gold than previously believed.

This time last year UBS analyst Daniel Morgan was one of several analysts recommending clients "sell" Newcrest shares because of the looming slump in gold production.

But drilling results from Red Chris and Havieron convinced Morgan to upgrade Newcrest to ''neutral'' in May, and by June he ranked the company as a "buy".

Morgan says the June 11 drilling results suggested Havieron had the potential to extend Telfer's life by 10 years and reduce operating costs at the mine by close to 30 per cent.

''The inclusion of these projects [Havieron and Red Chris] challenges market perceptions that production is peaking in fiscal 2021,'' said Morgan in a note to clients.

''Both projects are yet to have a resource or reserve declared. The early and
preliminary nature of our assumptions carries larger risks than our modelling for Newcrest’s existing operations.''

Far from a company that was past its peak, Morgan published graphs in May that implied Newcrest's gold and copper production could be close to 20 per cent higher in fiscal 2029 than it was in fiscal 2020.

That estimate assumed that Wafi-Golpu, Havieron, Fruta Del Norte and Red Chris were all contributing by 2029.

But new mines do not come for free; Morgan warned that construction of those assets (and extensions at Cadia) would cost between $US800 million and $US1 billion a year for the next five years, meaning competition for Newcrest's free cash flow will be hot in the near future.

All the major financial institutions now rank Newcrest as either a ''buy'' or a ''hold'', but levels of enthusiasm vary.

JP Morgan analyst Levi Spry still sees Newcrest's annual gold production slipping below 2 million ounces in fiscal 2023.

But rather than fall below that threshold for a minimum of eight consecutive years, Spry now believes Newcrest's output will be below 2 million ounces for just four years before recovering in fiscal 2027.

He believes Newcrest's gold production will bottom at 1.93 million ounces in 2024; an improvement on his previous estimate of 1.8 million ounces in that year..

''Holding 2 million ounces per year of production is difficult to maintain, and while we have Newcrest's production falling over the next five years we have been revising this upwards,'' he says.

[1hopper] 19/7/2020 21:27

Not a free opening for me Paddy, do you have the text please?

[p@] 19/7/2020 18:05

Thnks Paddy. N.C.paid a lot more for 70% of Red chris ($806m)than the 70% of Havieron ($60m)...Hope Bizwas appreciates this in future.





"But far more pivotal to Newcrest's future will be two investments made in March 2019; the $US806.5 million acquisition of 70 per cent of Canada's Red Chris mine, and a $US60 million exploration partnership with Greatland Gold .".

[paddygall] 19/7/2020 16:56

Really bullish article in the Australian Financial Review.

The link in the Primorus Tweet worked for me - I know sometimes it asks for your subscription but this time it opened. I have the text from the article copied so if you can't open let me know and I can post it.





ATB - Paddy

[daddy warbucks] 19/7/2020 14:09

Thanks Paddy.

[paddygall] 19/7/2020 13:41

Well guys - I couldn't resist a look at Planet.com earlier and even though today's image was cloudy, on there there was a partial image of Havieron but it was only the East section and showed nothing interesting. I scrolled over to the West and lo & behold I could see the image re-appearing just where the Kraken target was coming into focus.I had a quick look at the area where AM90 had discovered the possible vehicle tracks on the 15th and sure enough there appears to be quite a bit more activity just there. Is it just ground preparation or have they actually started drilling?https://vimeo.com/439695211It shouldn't be too long before we find out, ATB - Paddy

[1gandhi] 19/7/2020 11:55

tel - set my stop loss at £2.50 - so they’re welcome to it if they’re desperate!!:))

[telbap] 19/7/2020 11:12

Tomorrow will be an interesting day. Got a feeling there will be a little stock hunting going on so watch your stops if you have them.

[hazl] 19/7/2020 10:11

He always does decent posts . 8-)

[alangriffbang] 19/7/2020 08:33

Thank you proton at last a decent post ,

[pr0t0n] 19/7/2020 08:24

Well , this has become a `boxing match` now, good news for Cardinal shareholders/
=======================================================

Cardinal Resources has become the focus of a takeover battle between United Kingdom-based Nordgold and China’s Shandong Gold Mining.

Shandong, the largest gold producer in China and also an asset owner in Argentina, launched an off-market takeover offer for Cardinal earlier this year.

This move was welcomed by Cardinal, a West African gold-focussed development company. Its board of directors unanimously recommended that shareholders accept the offer last month.

In response to the Norgold offer, Cardinal advised its shareholders to take no action upon receiving an unconditional takeover bid from its largest shareholder.

Norgold’s 66 cents a share offer represents a 164 per cent premium to Cardinal’s closing price on March 13 – valuing the company at $347 million – and is 10 per cent higher than Shandong Gold’s offer.

[pr0t0n] 19/7/2020 08:15

Rio Tinto has lodged an environmental approval request with the Australian Government for the Winu copper project in Western Australia, a key step in its plan to be in production at the site by 2023.

[timberwolf] 18/7/2020 08:48

Gold Holds as COVID-19 Cases Spike
Base Metals Investing News - 17th July 2020

"The gold price held above US$1,800 per ounce this week. Starting the period at US$1,806, the yellow metal briefly slipped to US$1,795 before climbing back above the US$1,800 threshold.

Rising COVID-19 cases in gold production hub South Africa, paired with massive upticks in the US, have been price growth catalysts as investors move toward the inflationary hedge and safe haven asset.

Moving as high as US$1,813 on Wednesday (July 15), gold has now added more than 20 percent to its value since falling to US$1,498 in March. It is on its way to a sixth week of gains.

As the long-term impacts of the pandemic begin to emerge, market watchers are forecasting more stimulus and bailouts, which will ultimately bolster the case for gold..."

[imperial3] 17/7/2020 18:08

Yes a blue finish.

[malcontent] 17/7/2020 17:33

What's this?
GPP 12.6 to end the week? Tasty
GOld price climbing from a test of 1800? Yes please

Might treat myself to a Chinese take-out tonight

[bearnecessities] 17/7/2020 13:01

'4' trades starting to crop up at 12.50 - any ideas, or just MM games?

[timberwolf] 17/7/2020 12:31

Several miner's are due to report on production next week, along with NCM: