Member Info for pernickety

Gravy train has been rolling on for many years now.

I do not know how they manage to raise new money.

I believe the dragging out selling Newmonts 70% of Havieron and Telfer package would be mostly due to the ongoing work being done at Telfer.

Why would Greatland want to take on Telfer now and then spend money bringing it up to standard when Newmont are obliged to and currently doing the work to fix the tailings dams, do maintenance plus other bits and pieces that could not be done whilst it was operational.

Should happen within the next month or two, we just need to be patient.

I see it as another top up opportunity (for those that can) and we have had loads of them in the past year.

Telfer is also costing Newmont money in lost production, wages and other overheads, but it has also got to be fit for purpose before Greatland would be willing to take it.

I think they will let it go as soon as the tailings dams are fixed along with other necessary work done and Greatland can then take charge of Telfer and Havieron on their own or with their new JV partner.

Thanks Dip for that information

Do we not need the share price to be the equivalent of 20 Australian cents before any cross listing.

If so there may be a consolidation 1 for 10 or something like that.

If the takeover was out of the way first the share price would possibly be better for the cross listing.

The option of Newcrests 70% of Havieron going to another miner does not necessarily need to happen.

With last right of refusal Greatland can do what it likes with the 70% if a deal is done.

GGP can retain whatever percentage in any agreement with another JV partner they are comfortable with.

It could be a 50/50 or 60/40 or they could have it all, but I would be disappointed if GGP ended up with less than 50%.

Another reason may be that they do not want a junior partner in the JV when it is ready to be mined.

Newmont have other JV's but they are with larger more established miners.

Newmont also know Greatland will not give up their 30% unless it is at a high premium.

I think they are probably sacrificing their 70% of Havieron to get someone to take Telfer which after a long life now has very low grade ore.

This is why Havieron is packaged with Telfer to sell.

Good post speedy.

We have 30% of a resource that will be mined whatever the outcome.

As Newmonts 70% is packaged with Telfer it makes it more difficult to get a valuation for the 70% on its own, but legally, with the last right of refusal on Havieron only GGP do not need to take Telfer, but it would give them early production if the price was right.

I think Newmont might have difficulty shifting on Telfer on its own.

I wish I had a crystal ball, just my thoughts.

A mill has been spoken about at Havieron to process the ore but then Newmont would have to decommission Telfer as there are no other finds in its vicinity.

Yes Newmonts 70% Havieron and Telfer are intertwined but last right of refusal is on Havieron only. This is why the likely buyer will be GGP or GGP with a partner of their choice.

Telfer will be an asset for early gold/copper production and possibly other pockets of ore in its surrounds.

The only way Newmont will get someone to buy Telfer is to bundle it with their share of Havieron.

Greatland could take 70% of Havieron and leave Newmont with Telfer.

This will not happen in my opinion as a deal will have been done in principle.

Ggp's share price is being held back, let's hope the 70% is aligned to our 30% at the moment, less Telfer.

And because it is bundled with Telfer will make it less attractive to some other ompanies.

GGP has last right of refusal to match any other bids for Newmonts 70% of Havieron so it will be their choice if they buy it or not.

What about Newmont taking a % stake in GGP as part of the deal.

Sounds good to me provided it is at a price that would suit Greatland.

I think Newmont would have kept and mined Havieron if they were not burdened with Telfer.

Selling them as a package is possibly their best way forward to move on Telfer, especially after all all the money spent on it by Newcrest to extend its mine life to wait for the Havieron ore.

Telfer is not in Newmonts plans and it would save its decommissioning costs.

I found a note I had taken I had taken in the past which states that Newcrest spent A$181.4 million in 2021 to continue production at Telfer till 2023 and then spent a further A$214 million in late 2022 to continue mine life till 2026.

The continued decline at Havieron and widening the road between between Havieron and Telfer, plus the ongoing repairs to the tailings dam would indicate that Newmont are hoping it will be used for the Havieron ore.

If there was strong interest in Telfer it must only be because they have attached it to Havieron and want to sell them as one.

On its own Telfer would in my opinion be more of a liability, with many millions spent to keep it going until it can get Havieron ore.