Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
All ducks seem to be lining up for Newcrest to takeover GGP and Rio Tinto to merge with Newcrest. Rio already have a lot of interest in the area and who knows if Sandeep Biswas gets the CEO job at Rio anything could happen. Just speculating.
Apologies. I thought I had read somewhere that exploration in the area had a break in the hot summer months but I'll bow to those with greater knowledge that Newcrest will continue irrespective of the heat.
As I understand it for the next 3/4 months the temperatures and working conditions are oppressive, over 40 degrees, so all exploration will be put on hold until about March/April. So our friend Bob the Builder is stating the obvious when he says that exploration will come to a halt. It will happen on all the exploration sites in the area. Somebody tell me if I am wrong, please.
https://www.sharesmagazine.co.uk/article/the-aim-stock-which-has-returned-over-1000-this-year
How do you mean? Discount narrowing slightly to around 45%. Still way too high. Fair value is nearer 30p. AIMO.
Latest drilling results at Havieron just got better. I think Ggp should fly tomorrow and hopefully take Sve with it.
How have mms got hold of such a large volume? Could SVE have sold a chunk of their 82 million? If so this share could fly on Monday morning.
Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, “We are excited by the drilling
results at Havieron and Red Chris. At Havieron we have returned our best drill result to date and with the step out
drilling result we see real potential to further expand this orebody. Getting underground is now the priority and we
continue to progress the work to commence decline development by the end of this calendar year or early 2021.”
Geology PhD student, Magic has done 2 interesting presentations about Havieron and Scallywag. He reckons the geology at Scallywag is very similar. In which case I guess we could have another 5m oz gold and copper deposit that we have 100% ownership.
Beamer047. I would estimate about 8 1/2p taking into account the other assets being valued at approx. £1m. The discount to net asset value has reduced recently but still circa 35% which is still too high given that 90% of total net asset value is invested in ggp which is reasonably liquid at present and this will improve further once it gets into the Aim ftse index on 22nd June. Aimo.
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne -– www.newcrest.com 1
Market Release
30 April 2020
Newcrest announces Equity Raising to fund future growth
Newcrest Mining Limited (NCM:ASX) (Newcrest) today announced that it is undertaking a A$1 billion fully
underwritten institutional placement, and a share purchase plan targeting up to A$100 million (together, the
Equity Raising) to purchase the Fruta del Norte Financing Facilities (announced in a separate release to the
ASX today) and to fund future growth options such as the construction of declines at Havieron and Red Chris1.
Equity Raising overview
The equity raising to be undertaken by Newcrest will comprise:
? a A$1 billion fully underwritten institutional placement (the Institutional Placement); and
? a A$100 million non-underwritten Share Purchase Plan (the SPP)2
As at 31 March 2020, Newcrest had cash on hand of approximately US$1.4 billion and access to a further
US$1.4 billion of liquidity in the form of undrawn committed bank facilities.
Institutional Placement
The Institutional Placement will comprise an issue of approximately 39.1 million new fully paid ordinary
Newcrest shares (New Shares), being approximately 5.1% of Newcrest’s existing issued capital, to certain
eligible institutional investors to raise approximately A$1.0 billion / US$653 million3 at an issue price of A$25.60
per New Share (Placement Price).
The Placement Price represents:
? a 7.0% discount to the closing price of Newcrest shares of A$27.54; and
? an 8.9% discount to the 5-day volume weighted average price (VWAP) of Newcrest shares of A$28.10
on Wednesday, 29 April 2020 (being the last trading day prior to release of this announcement) on the Australian
Securities Exchange (ASX).
It is intended that eligible institutional shareholders who bid for an amount less than or equal to their ‘pro rata’
share4 of New Shares under the Institutional Placement will be allocated their full bid on a best endeavours
basis.
The Institutional Placement will utilise Newcrest’s existing placement capacity under ASX Listing Rule 7.1 and
does not require the approval of Newcrest’s shareholders. RBC Capital Markets and Macquarie Capital are
acting as joint lead managers and underwriters of the Institutional Placement (Joint Lead Managers).
1 Subject to the receipt of all necessary permits and consents and approvals
2 Newcrest may decide to accept applications (in whole or in part) that result in the SPP raising more or less than this amount in its absolute
discretion. Further details will be provided in the SPP Offer Booklet expected to be despatched to eligible shareholders on Thursday, 7 May
2020.
3 Calculated using an AUD:USD exchange rate of 0.6533on 29 April 2020
4 For this purpose, an eligible institutional shareholder’s ‘pro rata’ share of New Shares under the Institutional Placement will be est
Sorry we hold 17.5m in AAU not 13.5m
According to Rns today we hold 13.5m shares in AAU not 12m.