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No idea how long it will be before any further info. regarding the divestment of Newmont’s 70% of Havieron is made public. The Newmont takeover of Newcrest was completed quicker than some thought it would be and the decision on Newmont’s divestment’s was also made quicker than some thought it would be.No harm erring on the cautious side of timeframes but things have moved fast so far so you never know.
Looking at what Tom Palmer has said he seems to be saying the North American assets divestment is the more complicated.Whether that means it will be first or last to be dealt with is a bit ambiguous to my mind. Sometimes what gets said and what actually happens aren’t the same.
“I would put them probably into three categories when you think about a process this year; I think there will be a process that will follow for Telfer in Australia as it is quite unique in terms of its circumstance. Similarly, Akyem in Ghana will have a suite of different types of mine and a separate process and then we think about the North American assets will probably be in a process themselves. So, I mentioned three processes and some stagger around them over the course of this year, with the more complex one being how we think about the four North American assets and the Coffee project up in the Yukon.”
GLA
Yes agree also Droverman, many options available and a combination of some of them is vey possible.
Good luck everyone, the wheels are in motion.
Agree barna, I’m very confident they’ll be able to one way or another negotiate a deal that benefits all stakeholders. Win,win.
GLA
Rockie, sorry off topic but you’ve inadvertently reminded me about one of my old “investments”, Oxus Gold’s representative Sean Daly got shot in an attempted assassination, their chief metallurgist Said Ashurov was wrongfully imprisoned on trumped up espionage charges, the Kazakhstan government expropriated one of their mines and the Uzbekistan government expropriated the other. It’s some story even I couldn’t make it up.Until GGP I didn’t half know how to pick ‘em Lol.
Nowt dodgy about our copper 😀
Even using today’s gold price Jerry’s figures show there’s loads of room for funding options and it still leaves more than plenty of meat on the bone for us PI’s. Bring it on!
GLA
Allez,allez,allez
Hi reaction, myself and plenty of others have previously posted examples of how funding in these situations can be achieved.
ATB
I’m just excited about the opportunity here.How much the additional 70% of Havieron and maybe Telfer would be worth to Greatland is as significant and important as the funding and that’s what I’m interested in.I’m sure both the board and potential backers will be confident it’s benefit considerably outweighs the funding or it won’t happen.
Cost versus Value
MD’s/CEO’s often promise that this year will be transformational and often, well, it’s not.
But if GGP manage to achieve what I and I think many others are hoping for then this year will definitely be TRANSFORMATIONAL.
Explorer to Producer overnight.
It’ll have been worth the wait.
He just wanted to get the BMO conference out of the way first before he announces anything.
He said it’ll just have to wait there’s no way I’m rewording that presentation AGAIN just before I deliver it.😀
Https://www.mirror.co.uk/3am/celebrity-news/cher-falls-victim-death-hoax-7049980
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).”