RNS2 Dec 2024 08:35
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Greatland Managing Director, Shaun Day, commented: "It has been a truly transformative period for Greatland and our flagship Havieron gold-copper project. Thanks to a huge amount of work by our Greatland team and a highly collaborative approach by our Havieron joint venture partner Newmont throughout the year, we have been able to seize a compelling and strategic opportunity to consolidate 100% ownership of Havieron and Telfer.
"The acquisition, announced on 10 September 2024 and targeted to complete by early December, will make Greatland a significant Australian gold and copper producer with one of the country's best development projects."
"The acquisition of Telfer provides a de-risked near term mine plan with substantial ore stockpiles at surface, and attractive mine life extension opportunities. Telfer's production is expected to generate free cash flow, supporting the development of Havieron."
"Ownership of the Telfer infrastructure substantially de-risks and reduces the cost of completing Havieron's development, and enhances the potential value of exploration success in our extensive Paterson exploration portfolio. We are well positioned to build a generational mining complex and create value for our shareholders."