Telfer the Elephant in the Room, page-27

Hey @GoGreen1 , I had a listen to the interview.

The main point is, that he gives the reason for the delayed PFS, which is that it'll be formally increased by 50% from 2Mtpa to 3Mtpa, but he says there'll be inflationary pressure and therefore increased capex for increasing the output by 50%. Also optimisation to the single decline by widening it for enhanced production.

He says they "want to increase the productivity of the decline". Also uses the phrases in regards to the decline and production development multiple times, "nothing is linear", "de-risking", "potential improvements", "we continue to have all the challenges".

The timeframes that you've quoted, about reaching the top of the ore body in early '23, and first ore in early '24, haven't changed from past plans. But those timeframes haven't taken into account any of the delays over the past 14-15 months, and some of the "challenging conditions" that he mentioned today, and what Newcrest mentioned last week.

The Havieron drilling continues deliver golden eggs, and GGP'S in a good position. But after listening to this interview, I believe that there'll be delays for full-scale production at Havieron, but I don't think anything major or substantial.

But anyone can see what a remarkable amount has been done overall in the project so far, and the development has been rapid to say the least.


But Shaun unnecessarily takes a veiled swipe at Antipa again, by repeating the same BS about Newcrest prefer GGP to manage the JV'S, and that Newcrest "doesn't allow the other partner to stay on as manager" in regards to Paterson Province JV'S.