RE: Placing4 Jul 2020 20:00
Hannam & Partners Greatland Gold Initiation Report:
“We estimate a total capital cost for Havieron of US$158mln with US$34ln to be borne by Greatland, less than 10% of Greatland’s market cap. We believe this makes the Company a unique investment proposition versus peers due to its low capital cost requirements for such significant and high-margin production with low funding risk. In addition, having a high-quality partner like Newcrest constructing and operating Havieron significantly reduces execution risk, in our view, versus a scenario in which a junior has control of the project.”