Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
How does the recently announced Newmont - Newcrest merger affect Greatland Gold?
On February 6, 2023 Newmont announced that they have offered to takeover Australia’s biggest gold miner - Newcrest Mining.
As you are likely aware, Newcrest is Greatland Gold’s joint venture partner on their Havieron project in which Newcrest owns a 70% interest with Greatland Gold owning the remaining 30% interest.
Newmont is primarily interested in acquiring Newcrest’s producing gold and copper mines in different countries but along with that, Newmont will be acquiring Newcrest’s other non-producing projects including their interest in the Havieron project.
The primary question for us as Greatland Gold shareholders is what will Newmont do in regards to their interest in the Havieron project.
When two big companies like these merge, usually the acquirer has their sight set on the most important or highest quality mines. Not uncommonly, they will at some point sell the mines or projects that for whatever reason don’t think are a good fit for them.
A very significant part of the Havieron project story is that Newcrest owns and has been operating their nearby Telfer Mine for over 40 years. It is old and getting close to the end of it’s life. Every mine eventually runs out of gold bearing rock to process if they can’t find any more nearby so it was magical timing when Greatland Gold discovered their significant new gold – copper deposit very close to Newcrest’s old Telfer Mine five years ago.
If the Telfer Mine was not located as close to the Havieron deposit as to where it is, it would cost close to $1,000,000,000 to build a brand new stand alone mining complex and take many years of engineering and permitting to build one.
If Newmont decides to keep the Telfer Mine they almost definitely need to keep their interest in the Havieron deposit for the same reason Newcrest was eager to be involved in developing and getting it into production as quick as possible to keep the old Telfer Mine in production.
If that is Newmont’s choice, then I am happy as I very much respect Newmont as an excellent mine builder and operator.
If Newmont decides that the Telfer Mine is not for them, then they would look to sell it for whatever they can get along with their 70% interest in the Haverion project because whoever would want to buy Telfer would need the new deposit to keep the old mine going.
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Firstly, let me explain, I'm not a first time poster, I had my account deleted when the gg1pchatsite opened because of all the arguments but still read here every day without filters. I created a new login recently so that I could filter again. I'm bxlls deep in GGP since 2019 and never sold a share.
I remember the day that the huge daily rises started I had gone to Lewes to meet a mate and we had a coffee at the Cafe Nero. I walked past a Big Issue seller, gave him a quid but elected not to have the paper. I got mya coffee, sat down to drink it and looked at my phone. WTF! I was in such shock at the rise I immediately went into a high class Cheese shop and spent £17 on my favourite blue cheese. This may not seem a lot to some but it was uncharacteristic having been brought up in West and North Yorkshire. lol
As it rose, I almost doubled my investment here but decided that 38p wasn't enough. Hindsight is a wonderful thing and I get a reminder from my wife almost every week that I should have top sliced but hey ho. So now I'm back to working very enjoyably a couple of days a week so that I can keep topping up for the next rise. I still keep giving the Big Issue sellers a quid though just in case.
Good luck to us all in 2023/4/5 etc