Ann: Diggers and Dealers Conference Presentation, page-13

Yes it's very intriguing.

I have no idea which way it will work out, have many theories, especially after drinking.

Back in Oct 2021 Newcrest / Greatland had a study out on Havieron for 2Mt which produced around 300Koz Au Eq pa, the next feasibility study due in last Qtr of this year envisages a 3Mt plant, extends mine life on the initial study parameters but may only do around 320Koz Au Eq.

Now telfer i think has 2 Trains of 9Mt pa......if you decommission one leaves 9mt to be filled.

Be generous and say Havieron fills 30% at 3Mt...................but hauling 3Mt from underground is no easy feat, very very hard.
(Ask BGL which are struggling to fill a 1Mt plant = check share price)

Now 3mt say = 320K oz Au Eq pa Greatland Gold stake is 30% = 96K oz Au Eq pa...................hmmmmm M.cap 750m

Azy m.cap $50m, and can supply 3Mt from open pit say 35km away, actually closer than Havieron and would produce 160k Au alone

GMD also presented at diggers........interesting the aging and deep Gwalia mine they are saying will pull 700-800k tones and with the mill right next door , but its 30 minutes quicker to get a truckload of ore from an open pit at Ulysses 35km away.


My point is, Havieron has to pull ore from underground, very deep for starters, 400m vertical depth, not road depth, plus only one tunnel, not going to be easy, and then truck it 40- 50Km, plus its a 1 mine risk and you are only filling the 50 % downsized Telfer mill by 30%.

Logic says, AZY open pit 35 km away has to be a very very serious option for anyone even contemplating buying Telfer and the majority stake in Havieron, it would cater for at least another 30% of the 9mt train.

If you don't fill the mill, your ASIC will blow you away, it wont stack up and you wont get approved.

Takeover, hope not, i want a tolling deal as a minimum, they need us more than we need them in my book.

Put Havieron & Minyari through the Telfer mill and you will have a 500K oz producer as a minimum with spare capacity still.................check that out against all producers who presented at Diggers.


I'm bit all over the place, but IF Telfer & majority stake of Havieron does get sold.............they need ORE for it to stack up, no bones about it

But, i guess i'm the only one, (besides you guys reading this), that are thinking some what along these lines by looking at our share price.

Time will tell, drill Parklands ASAP