Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Newcrest Mining Ltd NCMGF


Primary Symbol: A.NCM

Newcrest Mining Limited is an Australia-based mining company. The Company's principal activities are exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. The Company owns and operates a portfolio of brownfields and greenfields exploration projects. The Company’s assets include Brucejack, Cadia, Havieron, Lihir, Red Chris, Telfer and Wafi-Golpu. The Brucejack asset is located approximately 950 kilometers (km) from Vancouver, Canada. The Cadia asset is located approximately 25 km from Orange, New South Wales (NSW). The Havieron asset is located approximately 45 km east of Telfer. The Lihir asset is located on the Niolam Island, approximately 900 km from Port Moresby, Papua New Guinea (PNG). The Red Chris asset is located approximately 1,700 km from Vancouver, Canada. The Telfer asset is located approximately 400 km from Port Hedland, WA. The Wafi-Golpu asset is located approximately 65 km from the city of Lae, PNG.


ASX:NCM - Post by User

Comment by miningmanon Feb 21, 2020 12:08pm
134 Views
Post# 30718127

RE:RE:Q4 report

RE:RE:Q4 reportPaths ,  I agree  1000%   that new proven reserves  will require a seious  amount  of  drilling.  The  numbers you  quote  from Q3  report  compute to  an  average  hole length  of  only 60 metres.  To me , this implies that  by  far  the majority  of the 2019  drilling  was stope definition   drilling. As such ,  probable  and  inferred tonnages  will have been  moved into  the proven  category.   AS  such there will have been  minimal  increase  in  total  ounces....... indeed    as  milled tonnages  have failed to  confirm  the initial  grade estimates,  an  argument can  be made that  total  ounces will have dropped.  Also ,  given the oft  stated  shortages  of   available  stope inventory,  surely  all the tonnages and ounces  delineated by this  90,000  metres is already  thru the mill???  i.e.   minimal  contribution  to  restated reserves.

It   seems to me that  this  30,000   metres of  drilling  per quarter  will be  necessary  every  quarter going  forward  for  denition  purposes.  In addition  to this an  unknown amount of  exploration  drilling  will be vital  to  replace the ounces   mined  in  2018 /19.   since  these holes will be typically   200-400  metres long,   lets  assume  another 30,000   metres per quarter  is  necessary.

At   around $100  per metre ,  thats an  additional  $3  million   for exploration.   Im sure  Tom  Yip is  laughing  and giggling re the  strength  in POG,  but  there seems to be  additional  impending  costs  onn the horizon for  2020.
<< Previous
Bullboard Posts
Next >>