RE: NCM results January20 May 2023 17:58
This might explain the 40% from RNS 8/6/2020?
Tenement Management and Re-Transfer Agreements
· In order to lodge an application for a Mining Lease covering the Joint Venture Area ("JV Area") at Havieron, a 12 block area within E45/4701 in which Newcrest has a 40% beneficial interest (see announcement dated 1 April 2020), Greatland will transfer a 40% legal interest in the registered title to E45/4701 to Newcrest.
· There is no change in the current respective beneficial interests of Newcrest or Greatland in regard to the JV Area (40% Newcrest, 60% Greatland).
· There is no change in Greatland's beneficial interest in regard to the remainder of E45/4701. Greatland retains a 100% beneficial interest in the Non-JV Area, which includes the Scallywag prospect area, and has full access to that area to conduct further exploration work, subject to cultural heritage clearances.
· Once the transfer of the legal interest in the registered title to E45/4701 is registered by the Western Australian Department of Mines, Industry Regulation and Safety ("DMIRS"), the Joint Venture Participants will apply for a Mining Lease in respect of the JV area.
· Following the grant of the Mining Lease at Havieron, Newcrest will transfer its legal interest in the registered title to the Exploration Licence (being that part of E45/7401 not the subject of the Mining Lease application) to Greatland such that Greatland will re-establish a 100% legal interest in the registered title to E45/4701. No change in beneficial interest will occur at this point with both parties maintaining their respective share in the Joint Venture and Greatland retaining a 100% beneficial interest in the remainder of E45/4701.
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