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From The Australian today, was behind paywall so haven’t posted link.
“Canadian advisory firm BMO is now signing up bidders for the sale of Newmont’s North American mining assets, so they can receive confidential documents to enter the data room.”
Update news on Australian assets divestment progress soon hopefully.
Anyway, so the story goes a company called Day Dawn was involved in the early part of Telfer discovery/ownership history. Newmont paid Day Dawn a relatively small sum with regard to Telfer.
It would be a fitting reversal of fortunes if we had a new Dawn with a new Day paying Newmont a relatively small sum for Telfer ( including Havieron 😀)
GLA
Even If another entity purchases the 70% it just means they have the lions share of expenditure and we are in the same position as before but with a new partner and the uncertainty over funding removed and it is a lesser burden, but obviously with less upside potential than owning it all. Still sounds like a win to me from where we are.
I don’t think that’s been the plan though and personally I think the plan has been well prepared for some time.
GLA
Well I can beat that for corniness ( is that a word?).You shouldn’t encourage me.
It’s the final countdown. Europe.
I want it all. Queen
I know Shaun Day has alluded in Town Hall events and the like for some time about the possibility of 100% ownership of Havieron but the fact that GGP are confident enough now to be including it in official presentations and RNS must be a sign of even more faith that there is a good chance of it becoming reality.
GLA
What is it they say, negotiation should be more like a dance than a fist fight.
I read it as, we’d like to buy it if the price is right.
GLA
What’s next. So, that info will feed into the Feasibility Study no doubt.
GLA
Yep very good news.
Https://www.investorsobserver.com/news/qm-pr/8734520624829088
Https://www.proactiveinvestors.co.uk/companies/news/13364/northern-star-resources-swoops-on-paulsens-gold-mine-16305.html
It’s been done before and it’s been posted before,although most are and were already well aware. Achieving the “tall order” is what the “heavyweight board” are here for.
While we wait, just for fun in the first paragraph substitute Greatland Gold for Northern Star and Telfer for Paulsens and imagine. You may say I’m a dreamer but I’m not the only one.
GLA
Found this description and am purely guessing it may answer my previous one project question regarding Telfer and Havieron grouped together.
“A disposal group, as defined by the International Financial Reporting Standards (IFRS), refers to a group of assets (and possibly liabilities) that an entity is looking to dispose of together as a group in a single transaction. This concept is covered under IFRS 5, which deals with Non-current Assets Held for Sale and Discontinued Operations.
A disposal group may be a division within a company, a subsidiary, or any other collection of assets and liabilities. The plan to sell or dispose must be at an advanced stage where it’s unlikely changes will be made, and the assets must be available for immediate sale in their present condition.”
“six non-core assets and one project as held for sale, resulting in a non-cash impairment of $485 million” taken from Newmont’s First Quarter Results today.
I thought it was two projects Coffee and Havieron as per the February announcement. “Intend to divest six non-core assets including Éléonore, Musselwhite, Porcupine, CC&V, Akyem and Telfer, as well as two non-core projects including Havieron and Coffee”
There’s probably an explanation, someone might know?
Maybe they’re grouping Havieron project together with Telfer?
Https://www.miningweekly.com/article/newmont-sells-gold-stream-to-lundin-for-330m-2024-04-25
That’s what my better half’s friends keep saying to her.
Some will probably say it’s stupid to be not concerned about us being at 6p, but……say we were now at an SP of 15p for example, gives us a market cap. of just over £750 million. Most of that could only be attributed to our 30% of Havieron. If you were Newmont what would you be saying in negotiations? If you were their shareholders what would you be saying? I’m not necessarily suggesting that’s the only way they’ll value it but just another way of looking at it for now in the present circumstances and putting a silver lining on the current SP perhaps.
Not having a FS or a DTM for Havieron at the moment, is that really a bad thing at this time? That’ll come at exactly the right time i reckon.
Is it cheaper to buy a project or a world class mine?
GLA
On the never say never theme. It wasn’t that long ago that if anyone talked of the possibility that GGP might one day own all of Havieron and Telfer they were considered by many to have lost their marbles.
To quote Jean-Paul Turcaud
“There are 3 stages in a discovery….First people say you are mad.Second. People say you are not mad but your discovery has no value.Third. People say this is a great discovery but everybody knew about it.”
GLA
One other factor to add into the mix is Greatland aspire to become a multi mine operation. Once they get first mine up and running the board are perfectly suited to rapidly leverage that asset to add further to the producing assets.
GLA
I note some other standout comments Shinybits has previously made.
“I’m being careful to only comment what is publically(sic) available information,”
“Not able to say more.”
Lol.The old ones are the old ones.
Another possible benefit of higher POG in the near term whilst Greatland not yet being a producer is at some point in time I assume GGP may have to hedge a percentage of future production. The higher the price they can do that at obviously the better. Whilst we’d all like to know where we stand with Telfer etc. knowing sooner rather than later might have forced GGP to hedge at a lower price. As we’ve seen even a few weeks can make a large difference.
GLA