Why I like GGP – by Jerry Spaniel
NCs drilling reports have given 16 out of 16 hugely successful results with mineralisation deeper and richer and expanded the known area to the north, south and east. One prominent poster has done the volumetric calculations (his skill set) and come up with potential/probable of many tens of millions of ozs of Au and about 3m tons of Cu, plus Co. This will probably turn out to be the largest deposit in Australian recent history and some more excitable people think it could rival Kalgoorlie.
The 4.2m Au eq MRE is completely irrelevant, its way, way bigger than that. And its still open in most directions barring westerly if my memory serves me. The Paterson district, where Havieron lies is now the hottest area in WA (as Sandeep Biswas recently said). Goliath another prospect, is 20 times the size of Havieron, with drilling results due.
Add to all that the other areas it owns. Newmont walked from Ernest Giles a few years ago saying ‘not now’ when metal prices were much, much lower. There are a few million ozs in Tassie. Not to mention, our neighbours in panorama have had some exciting news recently too. This is all in the great Tier 1 Australia, where assets trade at 2.5 times NAV according to Jonathan Guy, and a recent transaction was done at US$852 an oz.
Thats why I like GGP.