Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Adikt. so its gone from there is certainly something going on in the background. to .LETS HOPE WEVE HES GOT A BUYER
Thanks for the article.
Sangha said he was waiting for the outcome of the New rest deal.
TI, as I said the other day, let's hope SC has got a potential buyer for the stake already lined-up.
Clearly it would be very difficult and costly if they attempt to sell in the market, and I'm sure they aren't that stupid. In the meantime the future of their holding will cast a degree of uncertainty, both positive and negative, over our share.
ARTICLE, PART 3
“When you talk about the true value of the business, the true value of the business is what the market is willing to pay.’’
Mr Tomsett said he was convinced the share price would have been trading well below its current levels in the absence of the Newmont offer.
Mr Tomsett said shareholders would also retain their exposure to gold and a lesser extent copper.
Newcrest shareholders will receive 0.4 Newmont securities for each of their shares, plus a $US1.10 per share special dividend.
Australian shareholders will receive chess depository interest (CDIs) in Newmont which will continue to be traded on the ASX.
The votes cast at the scheme meeting on Friday were overwhelmingly in favour, with 92.63 per cent of votes cast supporting the deal going through
Newmont CDIs are expected to start trading on the ASX on October 27.
Newcrest shares were trading at $26.08 on Friday, up 28c.
ARTICLE, PART 2
"The other element is, whenever there’s a merger, naturally, they look at ‘does everything fit within the new, new merged entity?’
Mr Andrawes said most of Newcrest’s Australian assets were probably a good fit for Newmont.
"But there’ll be some of the smaller things like some of the exploration areas which are probably not of interest
“Also Newcrest has some quite significant investment, large stakes in smaller companies like Lundin and SolGold.
“They’re probably one of the most obvious things, probably the first thing to look at are those non strategic investments and some of the exploration areas.’’
The Havieron JV with Greatland might also fit into this category, Mr Andrawes said.
More broadly in the gold sector Mr Andrawes said there had been consolidation in the Leonora area, “and I think we’re going to see more of that’’
There have also been rumours in the market for the past couple of months that Telfer would be put up for sale, which could be packaged together with Havieron.
Evolution Mining has already flagged its interest in any assets put on the sale block by Newmont, with founder Jake Klein telling the Australian at its mid-year investor day it would be in the running.
“The best opportunities do come for us from the majors and obviously (there’s) a lot of activity in the market at the moment,” he said.
“Newmont has made it clear that they are looking to dispose of some of their non-core assets if they proceed with the new post merger. So that is obviously a place that we would be looking in the future – recognising that it will take them probably until 2024 to make any decisions.”
Mr Tomsett would not comment on Friday about possible asset divestments, given that would be the responsibility of Newmont going forward.
At the meeting held to vote on the deal, he did field a number of queries on the question of whether shareholders were getting their due, with one asking, “Why do you think it’s OK to sell the company very cheaply?”
“Well, I don’t think it’s okay to sell a company very cheaply, and I don’t think we are selling it very cheaply,’’ Mr Tomsett said.
On the contrary, the prevailing trend in the sector at the larger end of the scale was for mergers with “just about always ... zero premium. mergers of equal’’, he said.
“We’ve managed to secure for our shareholders a significant premium, and that’s not easy to do in this world.’’
Mr Tomsett said the board had managed to extract a 17 per cent increase against Newmont’s first offer, which was an achievement given the US company was the only bidding party.
“More than they really wanted to pay, which was a 25 per cent premium in the first place, is an outstanding effort on behalf of our board and our advisors,’’ Mr Tomsett said.
Wildtiger, we have no urgent need of working capital - read the last MD&A.
However, if we end up going down the demented JV route, we will need to raise huge amounts to stand our corner, and of that there will be a significant level of dilutive equity.
ARTICLE, PART 1
The scrip takeover of Newcrest by the world’s biggest goldminer, now known as Newmont Corporation, is also expected to kick off a wave of deal making in the Western Australian gold sector and further afield, as Newmont pares off assets which don’t fit the merged entity’s criteria.
Newcrest was created as Newmont’s Australian subsidiary in 1966, and was then known as Newmont Australia
It merged with BHP Gold in late 1990, creating the nation’s largest pure gold producer, valued at $1.2bn
That deal scuttled a play by Robert Champion de Crespigny’s Poseidon Gold for Newmont’s Australian arm at the time, predating by more than decade the $US1.98bn buyout by the Denver-based Newmont, of Mr Champion de Crespigny’s own Adelaide-based Normandy Mining, signalling its major return to Australian goldfields
Newcrest chairman Peter Tomsett, reflecting on the deal on Friday, said the buyout by a foreign entity was “difficult on a personal level for a lot of people’’, given the hard work which has gone into building company over the past 30 years
We had a mine tour at Cadia and one of the descriptions given was that the whole situation was sad, but not bad,’’ he said
It’s a sad time for everybody but it’s an opportunity for everybody as well.
That opportunity also extends to the mid-tier gold producers and deal-makers who will be keenly waiting as Newmont runs the ruler over Newcrest’s assets - and even some of its own - and likely decides there are some which do not fit their investment criteria
Newcrest’s major mining operations include the Cadia mine in Western Australia, Papua New Guinea-based open pit operation Lihir, Telfer in WA, the 70 per cent owned Red Chris mine in British Columbia, Canada, and the Brucejack mine, also in BC
Altogether, Newcrest’s assets are expected to produce 2-2.3 million ounces of gold and 120,000-140,000 tonnes of copper this financial year.
But, like most major mining companies, it has plenty of non-core assets. These include a 32 per cent stake in the Toronto-listed Lundin Gold, 10.3 per cent of London-listed SolGold with assets in Australia but also Ecuador and Chile, 19.9 per cent of Azucar Minerals, and 8.9 per cent of ASX-listed Antipa Minerals, among other equity investments.
It also has a 70 per cent stake in the Havieron copper-gold exploration joint venture with Greatland Gold, with that project 45km east of Telfer.
BDO head of global natural resources Sherif Andrawes said on Friday the last big merger, between Barrick Gold - now the world’s second largest gold miner - and Randgold in late 2018, triggered a “flurry” of merger and acquisition activity.
Not always just things falling out of the mergers, but also others just following suit. Because if it works for companies of that size, it works for others,’’ Mr Andrawes said.
Dbw. You should of asked me. I read it 7 hours ago.
Just tell me what you want to know.
I will be pleased to tell you.
Must be awful not living in the mining center of the world, and not being able to access the latest news.
Thanks
DBW, you can access it via a link on the GGP page. It's also on NCM's web site.
Kat. I think I've missed the point.
What are you trying to say
..... and another thing NAL, I am a World Champion poker player in the same way that you are a master investor and sage analyst, saving us from our investment folly, rather than you being a swivel-headed loon, spending every day madly typing on your spittle-flecked keyboard, to utter indifference or even distain from the rest of us.
Hate to tell you NAL, but self-awareness is not your strongest suit. You generally get zero upvotes for any of your masterpieces, and you must be overjoyed that the downvote feature is suspended. So pretty clear what we all think of you.
I received a modest number of upvotes, so I will let this rest.
And if you would allow your farfalla brain to focus on the Ukie / Rus conflict, you will see that after going on 5 months, the Ukies' Greatest Offensive' has got exactly nowhere, apart from grinding up tens of thousands of those poor sods who marched into the meatgrinder, and now the Rus are on the offensive around Kupensk and Adievka, and will retake far more Ukie land than they 'lost' during the summer.
The point being that you, and all other Zelensky and Nuland apologists, have got it wrong, wrong, wrong about the war, and will need to eat a big plate of humble pie, topped with crow, from now on, until the Ukies sue for peace.
Call me a Putin apologist, but really I am just a realist, in that the West has lost badly, and that Zelensky and the NATO / USA / EU leadership have led us all down the primrose path to destruction and humiliation. Thus, I admire Putin for both winning and thus protecting, rather than betraying, his people. The West, on the other hand, has been shown to be a paper tiger which will never recover economically and militarily from this, as the rest of the world does not now trust us and will not forgive and forget.
But there are signs that the population is waking up to these evil and incompetent asshats who 'lead' us, and I hope to live to see the dust being blown off the pitchforks and torches, and the guillotines being wheeled out once more.
Aquinaga. If you stopped posting lies and fantasy, I wouldn't have to show you up for the fool you are.
And then you wouldn't have to cry like a baby and claim you've filtered me, every time I post.
Also your obsession with me is becoming worrying, it's stopping me sleeping at night.
Habahahaha
Im hearing heavy speculation the Chinese will make a move on Taiwan in the spring. Any Chinese suitor will want to make a move before then to avoid being bogged down in geopolitics. Q1 looking even more likely for things to kick off IMHO. C
I see from the green boxes Pretty Poly 🦜 the 🤡 is squawking again and again. Shame it’s not an Hawaiian Blue parrot!
No for something completely different, a man with three buttocks! Talks out of both of them!!
Kat. Interesting that you found the time to post, and tell me what others think of me. YAWN.
I wonder what they think of you, posting this sort of thing.
"respect Putin because he has steadfastly put the needs and wants of the Rus people first, as a good leader should."
It was posted last month by you.
Around the time you told us that you were a world poker champion.
What about the dilution? They need to raise more money to keep the lights on
Sean hunter. Certainly not a shrewd invester.
Im merely replying to eloro, who appears to think I only hold solg.
I've said on here before.
I only invest in exploration companies, I've also said on many occasions I've made modest and good profits on my investments, but I've also lost small fortunes.
Like a compulsive gambler. I try to only remember my winners.
On another point, the prize for the funniest post of the week goes to Bbg, calling people liars.
Bloody hilarious
Interest rates very good now covgaz hence investors going for safe havens for their hard earned? Stocks not very trendy ATM...
Agree , its sh88 or bust from here on in. At 10p its a small gamble , I'm looking for that to treble to be in a small profit.
The one good thing to come from this is I have finally learned my lesson , I'm done with shares.
Just need to get whatever back if anything is due.
There won’t be a long term , Wildtiger . The new president will have 18 months before they have to go to the polls again ; they’ll want this project moving fast .
I wish my average was around the 13 mark by the way ....
Bought more at 10p to average down to 13p....holding this for the long term
Has he got brown hair ?
Does he wear glasses?
Has he got a beard?
Dear me Sean, it seems you’ve no idea when you’re being laughed at by others. I imagine Tesla is shaking his head just as much as I am at your daft accusations