1. Most Discussed
  2. Gainers & Losers
HAV 21.5¢

Portia could be the tip of the golden spear

  1. Clark888

    1,830 Posts.
    I have this feeling that Havilah's Portia will result in a lot more ounces of gold and a long life mine, after the current ‘trial pit’ is completed.

    Remember, it is a ‘trial pit’. If the ‘trial pit’ at Portia is successful, then subsequent development of a full scale mining operation will be undertaken.

    The majority of the gold should come from the mineralised bedrock material at Portia.

    Preliminary estimates indicate that the potential volume of mineralised bedrock material at Portia is of the order of 8 million tonnes of as yet uncertain grade, lying immediately beneath the Base of Tertiary (BOT) mineralisation. (ASX release 9 August 2006)

    For the likely gold grades in the Portia bedrock refer to the following ASX release:


    Using my 2g/t grade estimate, this 8 million tonnes of mineralised bedrock material would be equivalent to 500,000 ounces of gold!

    In addition, the Mining Lease Proposal for the Portia Gold Project Trial Pit submission to PIRSA (March 2009 Rev # 7, Section 5.2.2) stated “if Havilah’s exploration proves successful and the trial mining is successful in determining the ore is economic to mine, then there is potentially over 20 kms of strike to mine. It could prove to be a long life operation if exploration is successful”.

    “The key benefit however is that if the Portia Gold Project is indeed a success, a long life mine, comparable with the Telfer Mine in Western Australia is possible. That will yield inestimable returns for all the stakeholders.” (March 2009 Rev # 7, Section 5.2.1)

    Stock Analysis (Peter Strachan) Vol 3, Issue 33 December 6th 2006 Page 5:

    The following extracts come from Peter’s analysis:

    “Havilah’s 100% owned Portia deposit could hold several million ounces of gold”.

    The company is able to map the gold bearing structure using gravity geophysics, which indicates several kilometres of potential strike with the potential to hold many million tonnes of mineralisation of uncertain grade. Only trial mining can determine what it looks like”.

    Rather than the Portia gold deposit itself holding ‘several million ounces of gold’, I think he is referring to both Portia and the 20 kms of potential strike. This would therefore include the Shylock and Lorenzo prospects.


Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.