Member Info for markjphennesseyg

There has already been good examples of how GGP could fund a purchase.Many will already be aware of the example below but it just shows it can be done.

https://www.proactiveinvestors.co.uk/companies/news/13364/northern-star-resources-swoops-on-paulsens-gold-mine-16305.html

That’s the way to do it.

The figures are obviously from some years back and a different mine but the principle is the same.

GLA

A “Mineral Resource” can be called a Mineral Resource only when it has reasonable prospects for economic extraction, and it must be constrained within the boundaries of a suitable mining method.

We have had 3 MRE’s from 2 different companies and also checked by independent consultants. We also have a PFS.

So all the main players going to be in the same place at more or less the same time for the BMO conference just before S.D. flys back to U.K. for the Town Hall? Could be some interesting conversations or side events going on there.

GLA

Anyway whenever you go and view a house with a view to a purchase how many times have you heard from the estate agent “oh the phones been ringing off the hook about this one” and then you laugh when it’s reduced a month later.

If Telfer is to become a processing hub for the greater area moving it or some of it closer to one mine would probably mean moving it further form another. That’s what someone I spoke to said anyway

All roads lead to Telfer.

WEst Australia Locality Tolling Hub

Wishing us all Great wealth

Makes sense why the banks were fully supportive of GGP delaying committing to the proposed loan agreement. Happy to wait for the possibility of even more business later.

Greatland Managing Director, Shaun Day commented:

"The Letter of Support demonstrates the strength of our relationships with ANZ, HSBC and ING and further enhances Greatland's financial flexibility for funding of the Havieron copper-gold project.”

What is it Shaun has said on multiple occasions.

“Fill the mill”

GLA

From RNS 30/11/2020

“ Scheduled quarterly repayments of the loan(s) will occur once production commences at Havieron with repayments comprising 80% of quarterly "Net Proceeds" (revenue from sale of Greatland's share of JV product less statutory royalties, royalties payable under the JV ILUA, all charges paid by Greatland under the Tolling Agreement with Newcrest, and Greatland's share of Joint Venture operating expenditure for that quarter).”

There’s also the loan to GGP, from Newcrest at the time, to develop Havieron. My understanding and recollection of this was that we were told that the loan did not have to be paid until Havieron was in production.

As barna says “Who is holding all the aces?”

GLA

I don’t know all the ins and outs of it but I’m hoping that the whole JV set up with Havieron and to some extent Telfer is a big enough legal and corporate hurdle to put off many other bidders. From the seller and buyers point of view.

Hopefully making a potential sale to GGP a far more straightforward and therefore quicker solution.

GLA

Lol indeed! Someone mentioned April Fools Day before about something else. I did check the date on the article when I read Hyperion. You gotta laugh.

Every cloud….

I can’t remember Gervaise’s words exactly at the time so I’m paraphrasing but it was along the lines of….no matter, we’ve got something else that we’re very keen to jump straight on to.

I do remember he said it with great conviction though.It definitely got my attention thankfully.

And the rest as they say is history.

GLA

Brings back great memories, topping up my GGP holding in my SIPP at well under 1p. Thanks Newmont 😀

What would be a bad outcome for Newmont is if there turned out to be no willing and capable buyer for Telfer/Havieron after announcing they wished to divest, it would be a little embarrassing and damaging. So you’d imagine before announcing something like that they would have done some serious “preparing” beforehand to ensure they didn’t end up with egg on their face. It’s not just being sure that a party might want to buy them but being confident that the counterparty can deliver and at a price agreeable to both sides before committing to putting them up for sale.

I think there was at least one article detailing the “courting” phase before Newmont went public regarding the takeover of Newcrest.

Bit of luck this might not take too long to start revealing the final chapter.

Aye.

I bet they’ve not been just sat on their hands like me for the last how many months.😃

This is what they thrive on.

Https://greatlandgold.com/about-us/team/

If this lot can’t sort out the successful purchase,financing and subsequent operating of Telfer/Havieron then there’s not much hope for anyone else.This is what they do.

Unimaginative “Anyone who thinks a business like Newmont will be giving away something cheap are foolish.”

FWIW I don’t think they paid a lot for Telfer/Havieron in amongst the other Newcrest assets they took over anyway. So I think there’s a bargain to be had for the right counterparty who is well prepared to act quickly.If they get more than the value they attributed to it in the takeover then that’s good business to them.

BOCGOF

Buy one cheap get one free

As part of Newmont’s portfolio optimization, the company is seeking to divest six non-core assets: Akyem, CC&V, Éléonore, Porcupine, Musselwhite, and Telfer. In addition, Newmont expects to divest the Coffee project in Canada and the Havieron project in Australia.

So Newmont were looking to make 2 billion US$ from divestment.

There’s a fair bit in that list as well as Telfer and Havieron to make up 2 billion and they only own 70% of Havieron.

GLA

If Greatland were to acquire Telfer, then it greatly reduces the size required to be economical of any find they may make (and own 100%) in the locality. Or increases the profitability of it if it was commercially viable anyway.

GLA