Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Greatland Gold has indicated it might try to buy back full ownership of the Havieron gold project in Pilbara, Western Australia if the opportunity arose.
In February, Newmont, the majority partner at Havieron via a 70/30 joint venture with Greatland, deemed the project non-core.
Greatland says it has a right of refusal over the Newmont interest ahead of any sale to a third party and considers itself “strongly positioned” should there be an opportunity to consolidate ownership of Havieron on accretive terms.
https://www.proactiveinvestors.co.uk/companies/news/1046425/greatland-gold-strongly-positioned-to-buy-havieron-back-if-newmont-sells-1046425.html
I read it as, we’d like to buy it if the price is right.
GLA
Southern... Other entities also have the opportunity to buy Newmont's divested parts. However, GGP have last rights (if the company thinks its worth while).
Good morning all
The RNS was outstanding and it's so good to hear about the aquifier. It should help to quell the crxp from at least one nervous Nellie.
I just found this about Newmont if it's of any interest
https://uk.finance.yahoo.com/news/decoding-newmont-corp-nem-strategic-050309814.html
Anyway, good luck to all true Grealanders for the future
AdrianJ
It’s not strange at all, they are e potentially a buyer but the seller is in control so being respectful of their ownership and acknowledging what they offer (incase they decide to not sell later) is sensible and a nod to the fact you could be interested also makes sense.
“ Overall, we are confident there is currently significant option value in Greatland with Newmont's 70% interest in Havieron considered non-core and our existing last right of refusal on any sale.”
And the strange part,
" If an opportunity to consolidate ownership of Havieron were to arise"
Those two statements are at odds with each other.
Is there some doubt in the GGP board room as to whether NEM 70% will be available?
Why 'IF' an opportunity were to arise? I thought the opportunity had arisen the day NEM stated it would divest Havieron.
Very affirming statement, especially this bit;
“ Overall, we are confident there is currently significant option value in Greatland with Newmont's 70% interest in Havieron considered non-core and our existing last right of refusal on any sale.”
Nice update. Would be great to see the sp strengthen a little today now on the back of this, hoping but not expecting!
Excellent update
Good to read that they have been busy pushing on with the development, am assuming the decline will now start again.
GLA
Squashes a fair few anxiety points. Aquifer all but sorted with even the chance of expediting access to ore body (every cloud eh!) - a strong message RE ggp’s ability and intention to acquire the remaining ownership of Hav should it arise. Fantastic stuff. Cracking interview too. Much happier this morning. Hoping this is the catalyst for a fair few shorts closing and a rise in sp.
Fantastic update from Shaun.
Some people will stay take aim at Bamps for something, no doubt.
Going to get interesting!
" If an opportunity to consolidate ownership of Havieron were to arise we would be highly focused on delivering an accretive outcome for our existing shareholders with a view to delivering a world-class Australian gold copper asset."
Fantastic update. Simples !!
A strong message
Https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xj7n0ox
" Greatland Managing Director, Shaun Day, commented:
"Significant progress has been made during the quarter, particularly in terms of improving our understanding and confidence in managing the lower confined aquifer. Measured flow rates are at the low end of the range previously anticipated and water management infrastructure requirements have been confirmed. This significantly de-risks development through the aquifer. A better location has also been identified for the underground decline to develop through the remaining Permian layer where it is shallower, reducing the remaining development metres required through the Permian.
Overall, we are confident there is currently significant option value in Greatland with Newmont's 70% interest in Havieron considered non-core and our existing last right of refusal on any sale. If an opportunity to consolidate ownership of Havieron were to arise we would be highly focused on delivering an accretive outcome for our existing shareholders with a view to delivering a world-class Australian gold copper asset."
Property, plant and mine development, net -- $380m
Other assets -- $327m
Carrying value of assets held for sale -- £707m
valuation = £373m
Reclamation and remediation liabilities -- 207m
Other liabilities -- $127m
Carrying value of liabilities held for sale -- $334m
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02800704-3A641435
@SMTP, Re:' Everyonesawinner, short answer is no, institutional selling isn’t shown the same as private retail buys and sells.'
Don't know how you come to that conclusion., all trades are recorded on the London Stock Exchange in general, be they delayed or held back for reporting by a day or two at most, and any such trades are usually of a larger volume/number in my experience,
With today's closing higher, British Bulls gives a BULLISH HARAMI Pattern
Not sure what you are saying how can 13m be bought if not sold by someone? either shares or CfD's
Shirley there can't be an imbalance of 10m
Good news = sp down! 😅 Let’s hope we break the trend.
Where do we think we’ll be tomorrow in so terms … we will be able to clear the seller early and capitlies on the good news
Yes I think your right the increased speed to which they will get to the ore, and the increased price of both gold and copper make it a very intresting project.