REMINDER: Our user survey closes on Friday, please submit your responses here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
God willing Panama!!! đ¤đ
Lofty - no need to apologise for being ignorant. Fortunately for those who are invested Shaun has more handle on what's going on than you. There are 8.4m reasons why Greatland want 100% of Havieron. Most think there will be around 20m reasons once all the drilling is completed. In the ground value of that is a staggering USD46 billion. I think there's a really good chance of decent profits for 20 years plus, even with an AISC of USD1000 an ounce
Hhhmmm Shaun hasn't assembled the Avengers to sit back and watch someone else take them!
GLA! We are in the midst of a perfect storm! AIMHO
Correct...in my humble opinion having read all I can on the situation I truly believe that SD will decline the offer to purchase the "full package"as the dilution/debt burden will cripple the company going forward. GGP is and will always remain a junior miner / developer ! Sorry !
How can you classify a company as pulling the plug when they are still paying for everything that goes on financially until its sold.
hilarious last ditched attempt because everything else you spouted has turned to rat schit.
IOT he praised the JV and still does as itâs led to a massive acceleration in development that otherwise wouldâve have happened, having NM as a major regardless of divestment has been fantastic, weâre years ahead. I think youâre trying too hard to find a negative in that.
It's a bizarre twisty tale..but basically, to my mind...all roads lead to acquisition!
Still repeating yourself I see IOT. You can also invest in thousands of other companies. If you do not like this one, find another one.
But then again ....SD did come out with an rns celebrating the Newmont JV,the DAY before Newmont pulled the plug n put it up for sale,so pinch of salt m all that to what Day ',dream says?
I guess this will all come together at FS stage, which will include processing, the existing loan arrangements being subject to FS criteria. Plainly the banks, and any other lender, will need to know full on going costings, revenue start, including changes arising from any corporate developments. Iâm assuming previous conversations were around the previous majority holderâs ownership of Telfer for processing.
I do love Telfer, the gift that keeps giving!
NCM had the Telfer Imperative to get some economical ore to the plant so that they could kick the ball further down the road and avoid the closing down/remediation costs. This is why HAV has had so much cash spent on it in short order. We have a (nearly) mine due to this.
Now NEM don't see Telfer /HAVas part of their going forward strategy = opportunity.
Tailings dam problems look expensive = much bigger opportunity.
NEM likely want rid of Telfer ASAP. Difficukt to sell alone - almost impossible without commercial grade ore available I would say. So it would make sense to parcel it up with HAV.
So, in short, Telfer alone is too high a risk proposition for anyone to take on.
Telfer/HAV can work as the future upside can afford the risky costs of Telfer. It now becomes an exercise in cashflow managment (how much funding is needed prior to break even on production is achieved).
The biggy is that the Telfer imperative (NCM's problem child) has given us the right os last refusal on the remaining 70% of HAV = massive opportunity.
We just need to wait it out a bit until there are some predatory bids for the package by a.n.other - then pick up all the pieces (As always, subject to funding to include cashflow funding).
Tailings dam problem are highlighting the risk and driving down the value of Telfer.
Time to Shine @SD.
PS. Those quotes from Shaun Day were from Dip's notes from the AIM ON AIR interview - Part 2 - 19 Jun 2023
The other thing with Telfer is the experience, knowledge and familiarity with the plant of the personnel.
I finally found an old post from last year with the comments from Shaun Day about the processing of Havieron ore. I guess, looking at the comments over the long weekend, the 'second' option has been discussed a bit more:
"...There are two ways to process Havieron ore, you know one is through the existing infrastructure, which is Telfer and which is 45 kilometres down the road and the existing, I guess, relatively de-risked pathway to the processing. An alternative is to build a new purpose-built plant right at the mine mouth. Now that does have certain advantages to it, that new piece of kit , itâs the right size for Havieron and you avoid haulage for years, if not more likely decades of material to Telfer."
"So, there is, depending on the size of the mine, the NPV is actually better to build a processing plant at the mine mouth. But you also have to have to weigh that up with the time frame it would take to construct, the funding you need to do that construction and the greater risk of actually undertaking a major project as opposed to taking advantage of existing infrastructure."
"I think it's very likely that we will continue the base case of taking advantage of that existing infrastructure. But world class ore bodies you can solve in multiple ways and know. So, we have the luxury of a choice bit. But right now, I would steer people towards what the PFS said, which is the base case is processing through Telfer and you can close Telfer mining and still run the processing centre."
I personally wouldnât label Telfer a dog. Itâs over 40 years old with awesome infrastructure that in todayâs world is hard to replicate without significant cost and time. It was built before the aboriginals had the land rights they have now as well. Like any 40 year old âkitâ it just needs maintenance. Newmont are the best partner to have for this as they have much deeper pockets than any other gold company. They can afford to put Telfer right and get it ready for sale as a going concern. Clearly over 40 years itâs best days are behind it regarding ore reserves. So we just need to keep it being fed by other sources or ore like Havieron, and perhaps Antipaâs ore as an example. And the massive other sticking point is the remediation liability which will reduce the upfront purchase cost, but has to be costed for. Letâs hope Shaunâs positivity from his interview with Liam is due to working on buying the lot for us, being Telfer + 70% Hav + the other Newmont JVs in the Paterson.
Agreed Sureasblazes.
If we end up with Telfer we are going to get a facility thatâs been upgraded by the largest gold miner in the world and been rigorously scrutinised by the authorities prior to sale. A brand new plant apart from the time and cost will always have commissioning and teething problems whereas Telfer has many years of proving itself and fine tuning.
GLA
I for one am not sure that they can sell Havieron as part of a package with parts GGP do not agree to under the Last Right we hold. They can of course have a price for Havieron, and then offer the rest with a very substantial number of A$'s and a bond to cover the requirements of WA. Time will tell.
Being a glass full kind of person. I can see the positives from this scenario. Newmont have to fix the dam. They are stockpiling ore to be processed at a later date, we are not ready to process Havieron ore yet anyway, I canât see anyone else wanting to take it on, and Newmont have specified they come as a package, timing could be perfect for GGP, (in my mind the deal is almost done except the tailings dam is a spanner for Newmont). All in all itâs about as perfect a set up as we could ask for.
I hate the fact we're so reliant upon the dog that is Telfer, but beggars can't be choosers.
Newmont will end up giving this away. it must be racking up a huge overhead whilst they still own it.
According to this piece today,
âMining at Telfer is continuing with the ore being stockpiled,â a spokesperson said according to the media outlet.
https://www.amsj.com.au/fifo-mine-could-be-suspended-for-months/
I bet they do đ
Telfer Mine - AMSJ understands walls separating TSF7 and TSF8 are so unstable they could leave Newmont with no choice but to totally rebuild the tailings storage facility.
https://www.amsj.com.au/fifo-mine-could-be-suspended-for-months
Love that R.A.
KWellâŚlooks like that is confirmed as well.
Letâs hope this is the catalyst to move forward.
Take care all
Xe
Thanks to the tenacious efforts of one of the Telegram members, a message has been received from Newmont Investor Relations which states that "the Havieron project will be sold as one package with the Telfer asset."
ATB RA