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" 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."
Https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xj7n0ox
" 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 from Shaun.
Some people will stay take aim at Bamps for something, no doubt.
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.
Good to read that they have been busy pushing on with the development, am assuming the decline will now start again.
GLA
Nice update. Would be great to see the sp strengthen a little today now on the back of this, hoping but not expecting!
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.”
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
My assumption yesterday from Shaun’s interview was that the additional ponds weren’t needed but today’s news says they will be installed when required.
Before the September Town hall the published water estimates were deemed to be on the low. When I mentioned this to Shaun he told me the opposite, which threw me a bit as I wasn’t expecting any issue.
From today’s news my assumptions are now that the volumes are above average ( as the new ponds are needed) but the flow rates and pressures are lower. This means the ponds will take longer to fill and are manageable so there will be no problem with the Decline advancement. It’s still a very strong rock structure so good for advance rates.
Strudel agrees with Hopefullygold this morning that his “pumps” were drilling legacies. The photos aren’t clear enough to know precisely but they were definitely not pumping from there. They are however on the proposed borefield, so may be kept for future pumping and not filled in and capped off like the rest.
The big question is now “ will they start the Decline or wait till the sale process is complete”
Heading towards +10%
If you wait for the purchase RNS you can add another 0
9% - Its like the old days...!
Hi All. Great RNS and the markets reaction has broken the "good news lower SP" What is evident is the lack of big sells this morning.
Wording of these RNSs are very diplomatic and at times hard to really get to grips with the meaning. What the wording does suggest is that the negotiations to buy back the farm as not as far progressed as many think. Having said that negotiations can come to a conclusion very rapidly with a willing seller and willing buyer. When that news hits saying the farm has been bought back in an accretive manner i fully expect the shorts to try and close and the SP should go parabolic. ATB Speedy
Positive RNS but intrigued as to why Newmont want to offload their 70% interest if Havieron is such a glittering asset, and they are still funding the continuing mine development.
It simply does not fit their own criteria as they look at their portfolio today.
They will obviously wish to offload development costs for the 70%, alongside Telfer. The ‘pause’ in decline may be opportune.
" intrigued as to why Newmont want to offload their 70% interest if Havieron is such a glittering asset"
I think this has been well documented - the current scale of Havieron doesn't fit in with Newmont's global assets, it doesn't mean that it's not valuable.
Yes. like the old days BUT the price is still very low!
The future looks bright,
Yellowstuff
The share price could easily multi bag from here. A solid entry point and the price of gold isn’t coming down anytime soon.
Nice to see a rise (so far 👌.....)on the back of news update......welcome reaction for a change, maybe a sign to the return of the good old days.....
It has been long time waiting ✋️
GLA.