Closure cost estimate
An independent specialist consultant was commissioned by Newcrest to develop a 2022 closure
cost estimate. The estimate was for a combined Telfer-Havieron closure for Telfer LOM and
Havieron (100%) of A$478.1M including contingency. The cost estimates were prepared in
accordance with the global good practice standards defined in the International Council of Mining
and Metals (2019).
Try again :O)
'Other costs including state royalties (approximately 2.5% of gold revenue and 5.0% of copper
revenue), treatment and refinery charges, tolling recoveries (for Havieron), penalties and cash
rehabilitation costs (assumed to be approximately $160 million for Telfer and $105 million for
Havieron);'
Page 277
https://www.newcrest.com/sites/default/files/2023-09/Newcrest%20Scheme%20Booklet.pdf
Apologies, correct link
https://www.newcrest.com/sites/default/files/2023-09/Newcrest%20Scheme%20Booklet.pdf
@MH01
'I’d like to know what remediation of Telfer looks like. Are they expected to put the land back they way it was?
They have all that infrastructure plus massive hole in the ground. I’m trying to imagine the cost.'
'other costs including state royalties (approximately 2.5% of gold revenue and 5.0% of copper
revenue), treatment and refinery charges, tolling recoveries (for Havieron), penalties and cash
rehabilitation costs (assumed to be approximately $160 million for Telfer and $105 million for
Havieron);'
Page 277
https://www.lse.co.uk/ShareChat.html?ShareTicker=GGP&share=Greatland-Gold&thread=BBD5E93B-F7EB-469F-BE29-A3E31B7BA6A5
4.3.4 Telfer and Havieron
Grant Samuel has valued Telfer in the range $500-600 million. The valuation incorporates the value of the
existing operating mine at Telfer and the value of the Havieron Project (at Newcrest’s 70% interest)
https://www.newcrest.com/sites/default/files/2023-09/Newcrest%20Scheme%20Booklet.pdf
What a pleasant surprise, think I'll let off a rocket just to please Kat :O)
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YNA91
Re:' and at what value would they offer for just Havieron or all of GGP? Would have to be eye watering according to SD. would only make sense for us to sell Hav if we have a decent strike somewhere else so we had something to spend the money on.'
I agree.
What indeed would an eye watering amount be and what might that mean?
In the current market ,sentiment is very spa-r-s-e/poor in the PM's sector at this time given the current overall global macro position. I just don't want a small dividend for the sale of Havieron and then have to wait until we find another discovery and then go through all that we have already gone through again?
Re: 'Would only make sense for us to sell Hav if we have a decent strike somewhere else so we had something to spend the money on.' I agree but then we are back to being an explorer again but with no short term opportunity to capitalise on a almost certain large Hav 'cashflow' and the associated profits to pay off our bank loans etc.
Also, would the high hitter expensive senior management team that we have hang around if we cashed in our Havieron chips?... thats my fear.
If we were to agree to sell the whole of GGP under the current macro market conditions and probably into most of 2024, what price would shareholders agree upon on as being a fair FMV?
These are the sorts of questions IMO at the back of many shareholder minds right now.
For me, i just want Newmont to take over the reigns from Newcrest and carry on with Havieron as before, if they don't want that, then let them pay a fair FMV price.
In the case of a GGP takeover bid, let them pay even more... given the highly potential prospective licences that GGP already own.
The only way we can realistically increase a complete takeover price in the near term is by finding a really good discovery ASAP ...on the South Pilbara, or better still on the EG’s licence since no one is going to pay now for a 'As yet to be Discovered find ' given that we currently only have Havieron.
All to do with timing and overall market sentiment, but the clock is ticking.
Just my current view right now.
ynwa91.
re:' and at what value would they offer for just hav or all of ggp? would have to be eye watering according to sd. would only make sense for us to sell hav if we have a decent strike somewhere else so we had something to spend the money on.'
i agree.
what indeed would an eye watering amount be and what might that mean?
in the current market ,sentiment is very sp****/poor in the pm's sector at this time given the current overall global macro position. i just don't want a small dividend for the sale of havieron and then have to wait until we find another discovery and then go through all that we have already gone through?
re: 'would only make sense for us to sell hav if we have a decent strike somewhere else so we had something to spend the money on.' i agree but then we are back to being an explorer again but with no short term opportunity to capitalise on a almost certain large hav 'cashflow' and the associated profits to pay off our bank loans etc.
also, would the high hitter expensive senior management team that we have now hang around if we cashed in our havieron chips?, thats my fear.
if we were to agree to sell the whole of ggp under the current macro market conditions and probably into most of 2024, what price would shareholders agree upon on as being a fair fmv?
these are the sort of questions imo at the back of many shareholder minds right now.
for me, i just want newmont to take over the reigns from newcrest and carry on with havieron as before, if they don' want that, then let them pay a fair fmv price.
in the case of a ggp takeover bid, let them pay even more given the highly potential prospective licences that ggp already own.
the only way we can realistically increase a complete takeover price in the near term is by finding a really good discovery asap on the south pilbara or better still on eg's since no one is going to pay now for a 'as yet to be discoverey ' given we only currently have havieron.
all to do with timing and overall market sentiment, the clock is ticking.
Never heard of Don Durrett before but found this YT published on the 03rd Oct, worth a watch if you have time.
'Don Durrett and John Feneck believe that gold and silver mining equities present a compelling valuation, if you're willing to do the homework to find companies with real potential. Don and John provide their macro perspective on the precious metals space, in addition to discussing stocks they're currently buying.'
https://www.youtube.com/watch?v=nkhJIekQ8xU
@88v8,
Re: 'So if you can move all your holding into the ISA, that avoids the hassle of having to convert, and it won't cost you much to move it as the spread is so small. '
Interesting, I'm with ii and am annoyed like you that I have to convert from $ to £ in my SIPP account as reduces the actual amount received etc.
Have you ever enquired if you can transfer stock from your SIPP to ISA, but then again you suffer a 15% tax charge etc.
Not sure if ii would allow it and if be beneficial overall ?
Sorry, Correct link re AGM & Resolutions to be voted upon. download the pdf
https://www.gstechnologies.co.uk/post/notice-of-annual-general-meeting
One final point note vii is incorrect, page 6 :
file:///C:/Users/Kings/Downloads/AGM-2023-Notice-of-Annual-General-Meeting-4.pdf
'As at the close of business on 14 September 2023, the Company’s issued share capital comprised
1,548,558,192 shares of no-par value. Each Ordinary Share carries the right to one vote at a
general meeting of the Company, and therefore the total number of voting rights in the Company
as at the time and date given above is 1,548,558,192'
Wrong!, the orrect figure is:1,838,222,277 shares.
RNS of the 17th May 2023
'On Admission, the Company's issued share capital will consist of 1,838,222,277 Ordinary Shares, each with one voting right. There are 60,000,000 Ordinary Shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 1,778,222,277 and this figure may be used by shareholders following Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.'
https://www.investegate.co.uk/announcement/rns/gstechnologies-npv-di---gst/placing-to-raise-750-000/7531322
How many of you can actually be 5rsed to vote? 🤣
May well get an update RNS before the AGM, let's hope so!
Porsch,
Re: What's everyone expecting to hear from AGM?
Simply, no more than the voting results on said resolutions, as simple as that.
Resolutions are:
ORDINARY BUSINESS
Resolution 1: To receive and adopt the annual report and non-statutory financial statements
for the financial period ended 31 March 2023.
Resolution 2: To re-appoint Malcolm Groat as an independent Director of the Company.
Resolution 3: To re-appoint Shipleys LLP as auditor of the Company to hold office until the
conclusion of the next annual general meeting and the Directors be authorized
to determine the remuneration of the auditor.
Resolution 4: THAT, in substitution for all existing authorities previously granted, approval is
given for the Company to issue up to 800,000,000 new Shares in accordance
with Article 8 of the Company’s M&A, at the Company’s discretion at such
times and on such terms as the Directors deem fit.
Resolution 5: To disapply the pre-emption rights set out in Article 9 of the Company’s M&A
and otherwise, at the Company’s discretion, at such times and on such terms
as the Directors deem fit.
That's it folks!
Barna,
Personally I cannot imagine for one second the project being put on hold for a myriad of reasons.
There is a very real shortage of skilled mining labour and to get those guys back again would create even issues in the short/medium term. Cancelling of major contracts,ie Byrnecut /Decline etc . The cost of doing so ie putting on hold, would far outweigh the costs of continuing the project to the top of the orebody IMHO..
Agree, the stockhead article also stated this;
Along with Cadia, Newmont will also get the Telfer mine and associated Havieron development in WA (which could well be a candidate for a sale to a mid-tier goldie if it goes the ‘portfolio rationalisation’ route).
However it's all pure speculation for now though , but I agree avery good chance of divesting Telfer/Hav IMHO given the desire for savings and rationalisation etc. None of this will happen to at least next year IMO, the sunset clause re DTM and often referred to on here is about Apr 24 I think?