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For me if Newcrest is to busy or preoccupied to do the MRE they could have asked for help from there JV partner .
A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task.
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Speculation is mounting that Newcrest is already moving forward with plans for a sale of its Telfer mine in Western Australia ahead of Newmont finalising its $29bn buyout of Australia's largest listed gold producer. There are suggestions in the market that an investment bank is already in Newcrest's corner for a sale.
Logically the ASX listing should be put back until the MRE is released . The Australian institutes are investing other peoples money and need to have all the up to date information before investing as do private investors . When the MER is realised we would expect the Sp to rerate hopefully over the 11p mark and that gets us above the $0.20 minimum rule for listing on the ASX. If there is a capital raise with the listing at a discount it would mean less dilution
eg:
To raise $50m at 7p = 350m shares issued
at 8p= 312m shares issued = around 7% dilution
at 9p = 277m shares issued
at 10p = 250m shares issued = around 5% dilution
I do not think there is any benefit to list before the MRE is released.
I like many others do feel that Shaun has been put in awkward situation with the MRE he should not have to spend his time on this when he has so much on he's plate with the listing and other matters .NCM can make the excuse that they are to preoccupied with the takeover /merger but if GGP can put out a MER then a company that is over 60 times bigger can .
JiffyBag
I agree on both points and don't think there is any concern about GGP using Telfer but some times posters need to play devil's advocate (a person who expresses a contentious opinion in order to provoke debate or test the strength of the opposing arguments.) I do believe it helps us all to understand the important issues we and GGP face .
I think this is the part Culpepper is making the point about and I do not think he's trying to be negative but just thought there would be a more solid commitment in the agreement
The Havieron Joint Venture Agreement contemplates that Havieron could leverage the Newcrest group’s existing Telfer infrastructure and processing plant, and sets out certain Havieron Joint Venture Agreement Tolling Principles upon which a toll processing agreement would be negotiated and agreed between Greatland and Newcrest prior to processing of Havieron ore at Telfer.
The Havieron Joint Venture Agreement contemplates ( Think about )that Havieron could ( not will) leverage the Newcrest group’s existing Telfer infrastructure and processing plant,
The biggest problem is at this time Telfer is a very big liability to anyone .The mine closure plan must run into hundreds of millions If they sell Telfer they wont just sell the processing plant( and that's all we need ) but it will be the mine which is at the end of its life .I am sure that if they want to off load Telfer anyone who buys it will make sure they do not take all of its liability's .Its made enough money over the years and the closure costs of the mine should be footed by Newcrest or Newmont
If NCM or Newmont want to they could offer GGP there 70% of Hav at low price ending the JV agreement and then say we will not be processing the ore at Telfer then we would be really screwed and need to build a processing plant ( between 500m and 1bn ) the time it would take to build it and all the clearance needed as well as mine maintenance we would be bankrupt or takeover for next to nothing . May be I watched to much Dallas in the 80s but I would like SD to be more like JR.
Benrumpson1
"If Shaun thinks some of us are upset, just imagine if you were a Newcrest shareholder"
I would like to know what the NCM share holders think is there any forum for there share holders ? would be interesting to get there point of view .
For the past year we have been plagued with delays and uncertainty we never get a definite date on anything its always in the second half of the year or in this or that quarter its like trying to get a bad tradesman to complete a job that should have been finished months ago and when you ask them they fob you off with one excuse or another we need (and I have said this before) clarity not we are hoping to or it should be .
Additionally, the total supply of gold increased by 7 per cent compared to the previous year, reaching 1,255 tons in the second quarter. The production of gold from mines also hit a new record in the first half of the year, estimated at 1,781.
China bumps its gold purchases in July
China increased the amount of gold it holds for the ninth consecutive month in July. The People’s Bank of China acquired about 23 tons of gold, which is equivalent to 740,000 troy ounces, raising the country’s total gold reserves to 2,137 tons.
This trend of buying gold began in November, and since then, China has added around 188 tons to its reserves.
China has been buying gold to diversify its holdings and support the value of this precious metal. This strategy has helped keep gold prices stable, even though interest rates have been rising globally. Usually, when interest rates go up, there’s less demand for assets like gold that don’t provide any interest earnings.
The World Gold Council believes that the gold prices for this year will be influenced by the gold purchases made by central banks, including China. While the pace of these purchases might slow down compared to last year, central banks are still expected to continue adding to their gold reserves. This trend began when many countries sought alternatives to the US dollar due to events like Russia’s reserves being sanctioned after its involvement in Ukraine.
Additionally, China’s overall foreign currency reserves grew to $3.204 trillion in July. This represents a 3.2 per cent increase compared to the previous year and a 0.4 per cent increase from the previous month.
The price of gold decreased by 1 per cent on Wednesday and is trading at approximately USD$1,936.81 per ounce.
The price of gold has benefited from central bank buying in the first half of 2023, supported by strong markets and high jewellery demand, according to the World Gold Council.
The council’s latest Gold Demand Trends report released this month said that gold demand dropped 2 per cent year over year to 921 tonnes during Q2, although total gold demand is up 7 per cent globally year over year, pointing to a strong global gold market.
In the second quarter, the demand for gold by central banks decreased compared to the previous year, reaching 103 tons. This drop was mainly due to Turkey selling some of its gold because the presidential elections, high inflation and currency weakness all contributed to drive up demand.
However, despite this decrease, central banks globally bought a record amount of gold in the first half of the year, totalling 387 tons. The demand for gold from central banks in the second quarter aligns with a positive long-term trend, suggesting that their buying activity will likely stay strong throughout the year.
The demand for gold bars and coins increased by 6 per cent compared to the same period last year, reaching 277 tons in the second quarter. In the first half of the year the total demand for these types of gold reached 582 tons.
This growth was seen in important markets like the United States and Turkey. The amount of gold outflows from gold-based Exchange-Traded Funds (ETFs) decreased from last year with 21 tons, which is less than the 47 tons from the same period in 2022. In the first half of 2023, the net amount gold outflows from ETFs totalled 50 tons.
Demand for jewellery strong despite higher gold prices
Mining production also rose by 4 per cent, including companies like Vancouver-based Calibre Mining (TSX: CXB) (OTCQX: CXBMF), which recorded a 15 per cent increase in gold production in Q2 2023 compared to the same time last year.
Additionally, B2Gold Corp (NSX: B2G)(NYSE: BTG)(TSX: BTO) produced 262,000 gold ounces in Q2, 2023, which was a 17 per cent increase over its totals from from Q2, 2022.
Also, Alamos Gold Inc. (TSX: AGI) (NYSE: AGI) increased its gold production due to its operations it the Mulatos District in Sonora, Mexico. The company smashed its quarterly guidance of 120,000 ounces by 13 per cent.
Despite higher gold prices, the consumption of gold for making jewellery remained strong. In the second quarter, there was a 3 per cent increase in jewellery consumption compared to last year. In the first half of the year, a total of 951 tons of gold were used for making jewellery. This increase was supported by a rise in demand for jewellery in China and Turkey.
“Record central bank demand has dominated the gold market over the last year and, despite a slower pace in Q2, this trend underscores gold’s importance as a safe haven asset amid ongoing geopolitical tensions and challenging economic conditions around the world,” said Louise Street, senior markets analyst at the Wor
Hav and Telfer are separate enteritis they can not be sold as one but one is reliant at this time on the other its like one person having a tandem frame but the other person has the wheels unless we build our own frame ( processing plant) then both parts are needed , We have the right to buy the 70% at market value and without Telfer will be a very low price (win win ) we can bring in a new partner on a 50 50 meaning we only need to pay for 20% of Hav (win win ) Newmont would need to virtually give away Telfer to be free of it (win win) but by the time all this is sorted out we will be taking gold out of the ground. Time is not on there side.
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