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Sonia Madigan:
I’m with Shaun Day. Now he is the MD of Greatland Gold (LSE:GGP), which is working on a copper and gold project in the Patterson region of Western Australia. Sean, can you update us on the progress there?
Shaun Day:
Yeah, we’re really pleased with the advance of the decline. So the Havieron’s going down to the top of the ore body and we expect to be at the top of the ore body in the June quarter 2024. So within 12 months.
Sonia Madigan:
Now for the layperson, what does that really mean when you expect to be near the top of the ore body?
Shaun Day:
So the Havieron gold copper ore body is covered by what’s called the Permian layer,
that’s a more recent cover sequence which doesn’t contain gold and copper.
So we’re moving through that, effectively creating an access ramp, and then we’ll be back down in the country rock, which is where you have the ore which is the gold copper laden.
Sonia Madigan:
Now you’ve also got a JV or an earn-in agreement with Rio Tinto?
Shaun Day:
Yeah, so we’ve expanded our footprint across the Patterson. This is a long strike from that Havieron gold-copper deposit.
Rio Tinto exceptional platform, some of the best-untested exploration opportunities in that Patterson. We’ve mobilised a rig to start drilling that ground within four weeks and we’ve really got a tremendous relationship with Rio Tinto.
They’ve done a lot of work around access and the geophysics. We’ve reviewed that. We think they’ve done a great job and the geological team were really pleased to get on that site.
Sonia Madigan:
So you’re here at Diggers & Dealers. What sort of reaction are you having from the investors who are here?
Shaun Day:
Yeah, it’s been really positive. Look, it’s a great event. We’re really appreciative to Miles and Sharon for having the Diggers & Dealers platform. And for us, it’s been a great opportunity to engage with investors, see some new investors, but also update some of the existing investors, but also engage with our peer group as well. So it’s been a tremendous time.
Sonia Madigan:
Now, of course, there’s a lot of focus on battery metals, but why should investors look at gold and copper still?
Shaun Day:
Yeah, look, I think in terms of future metals, so to speak, copper is potentially the best way to participate in future metals. The expectation for copper demand around that is exceptional. So I think I think that aspect of it is extremely strong.
If you look at gold. Yeah, we’ve just gone through one of the tightest and most rapid tightening of monetary cycles in history and gold actually you don’t normally expect gold to come down on the back of that but what you’ve actually seen is gold maintain and actually step up probably 10 per cent through that tightening cycle. So really the future ahead for gold should be extremely strong.
And I think what you’ve seen is a world with increasing geopolitical tensions, this kind
of decoupling from China, and I think that creates an environment where gold really comes into its own. And we’re very spoiled to have the diversification of both copper and gold at Havieron.
Sonia Madigan:
And of course, gold always is the safe haven, isn’t it?
Shaun Day:
It is. And that’s the reference to that geopolitical decoupling. I think gold is a tremendous part of everyone’s portfolio to de-risk that event.
