“Absolutely of Global significant, world class scale” – At least 30Moz of Gold/$90 Billion In Situ Gold/Copper etc17 Feb 2025 11:34
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What a brilliant interview, Shaun and Team are super impressive.
Highlights from the latest interview…
Shaun was an executive at Northern Star, they have done the same before, now biggest producer in Australia.
It was Shaun’s plan all along to buy Telfer and Havieron from day 1
He knows the Newcrest team really well, they actually wanted to bring him there. He also knows the Newmont team really well.
Greatland in now debt free – Zero debt, which is hugely advantageous
Havieron – 20 year mine life, lowest quartile cost, tier 1 jurisdiction, next to existing infrastructure, the value on an asset of that size and infrastructure is extraordinary, to then acquire an already producing mine in Telfer is now a unique proposition for shareholders
Havieron is already half built, decline is 80% complete. Beautiful confluence of existing production with a growth story, and utilizing existing infrastructure
Havieron AISC - $814!! It’s because of the geology. 4000 Oz for each vertical metre is amazing, Havieron is 8000 Oz, shows the quality of the deposit. Will be a 10Moz ore body. Globally significant size.
Havieron is a combination of low capex and very low opex.
Telfer - A number of the team is from Northern Star, track record of doing this type of work. Gold price has gone up, makes more of the resource economic.
Going to invest in the drill bit, you don’t drill you don’t find. Good propensity to increase the mine life.
Telfer – 3rd largest gold mining infrastructure in Australia. Importantly 2 x 10m tracks. Currently running both training, really attractive economics.
Not a better time since 2005 to own Telfer, reinvesting in life extension.
25M tonnes at surface in stockpiles, over 500k ounces of gold and 20,000 of copper, pretty unique, no other mid cap in this position. Even if we stop mining tomorrow, we have 1 train running at full capacity for 2.5 years, great economics, no cost to mine the ore.
When Havieron comes on line, we now have infrastructure fed by Telfer open pit, Telfer underground pit and the Havieron underground, slows down the rate of mining at Telfer, best time to own Telfer in 20 years
Genuine excitement at Telfer, from being unloved, to now laser focus interest.
Bought in talented individuals, hence the success in the transaction, rasing the money and operations, talent has been the differentiator.
Hami and Greatland are comparable assets, similar scale, but we have higher grade, we already have infrastructure, they are the 2 premier assets, Hami had a A$5 Billion takeover bid plus the infrastructure to build it, Greatland are A$2 Billion with infrastructure already in place.
Greatland will be cross listed in ASX in the June quarter. A lot of indexation when its listed in Australia. A huge market demand for Greatland shares once listed.
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