I can assure you that my agendas are never hidden :)
just not my style.
I assume you mean Mark Davies? Cygnet.
No I haven't been in touch and yes I do know how they feel about CKK and WS. They are supporting the legal challenge to sue WS so that speaks volumes and they also wouldn't support a resolution to remove Matt Birney last year. So I gues sthey have a strong relationship with the chairman and at this point of time are backing that horse. It's a long race though and the boolkies will be taking bets mid race should any punters wish to change horses.
Bill is our CLRS inventor.
I am sure WS won't mind me sharing what he told me about the drilling at Telfer recently and why it failed. I am no drilling expert but it does appear he has some idea about what he is talking about.
from WS
"To drill Telfer, you need to use casing overburden drilling methods. I was involved with the development of that system and drilling method while drilling at Telfer in the 90’s. Basically, you need to lower casing while you drill. Most mineral and water boring rigs can do it. The Contract for the Drilling didn’t cover the costs of compressors and fuel and most seriously, did not cover the cost of bits so the Board and BK decided that they would employ an oil and gas expert (at $400k p/a) and another at $2k per day) and follow his advice on how to drill at Telfer. They made major modifications to the rig and even removed the casing over burden system from the rig (Patented System) so that there was no way they could change to this method if they got into trouble at Telfer trying to drill with Mud Rotary which was the method they decided would be used because they would burn less fuel using mud pumps than they would with air compressors. Also, mud rotary is the only method the oil and gas boys know.
They set up with a bit size too small and when they finally did manage to get to 150m after three hole attempts, the y cased off too early before bedrock and then had to contend with ground water when they were drilling inside the casing. This took two months to get to this stage. When they got to around 200m, the bit gauge was too small for the core barrel to fit down and they realised they would have to ream the hole to get core. I would be very surprised if Newcrest pay Core Track anything as they did not provide a core which was the scope of work.
If they had consulted with me on the Contract as per the terms of the IUP{ License, I would have recommended not to quote for that job as I knew other drilling companies had passed it up. Had the Board insisted on quoting (they normally did the opposite to whatever I advised) I would have quoted a day rate instead of $550 per metre drilled and I would have covered all of the costs such as bits (possibly $500k per hole) , fuel, mud, compressors, boosters, cement, foam etc. I would have also set the rig up to drill with casing and I would have designed the drill assembly with enough clearance to fit the core barrel down. I would have also modified the rig hydraulics to provide more torque at 100 RPM so they could core with the 10 inch barrel. Easy mod when you know how. Instead, the waited until the rig was drilling with mud rotary at Telfer and realised that I was correct when I told them they did not have enough torque to drill with mud. The rotation head was set up for hammer drilling at Merredin and needed more oil delivered to the rotation motors to provide more torque for rotary drilling. "
CKK Price at posting:
2.3¢ Sentiment: None Disclosure: Held
