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TomE It will be closed down but that could be a long time in the future, read my post. It is near the end of its life so close to being decommissioned. Winu, Havieron may extend it. Who ever buys it will will have to take on the responsibility of closing it down or selling it on to someone else. Who in turn takes on that responsibility of closing it down. Someone will have to close it down. For now the issue is how much would someone pay for Telfer. Grinding machines, evaporation ponds plus the lots of restoration work needed to be done. I can see the potential for a good deal.
No one is saying close Telfer down. If Newcrest want to sell Telfer then whoever buys it will have to decommission it eventually. That includes all the environmental damage done over the decades by Newcrest. This is a very larger bill meaning a straight sale of Telfer would probably involve Newcrest paying the new owner money to take it.
You have no idea what you are talking about ace. Once you take responsibility for closing a mine you have now moved into another world. That world include the world of politics, What could happen in 10 years time? See how much the world has changed in the last 10 years.
If Newcrest sell Telfer they would want the responsibility for closing it moved to the new owner. It does give a big opportunity for a buyer to get Telfer and a lump of money. orTelfer and 70% of Havieron for a £1. They would also want proof you can close it down. Last thing they will want is the company closing it down going bankrupt. Then Newcrest have to do it.
You could buy the plant for a penny and a new Aus government could pass a law the very next day saying you have to restore the site to how it was before you started digging,. Yuu have to pay for a 1000 shamens to bless the site before it can be closed. How long is a piece of string. Whatever the price they say quadruple it. When owned by Newcrest it was their problem.
We are at 1800m and according to Shaun we are ahead of plan. If no playing around by adding the width to the length this is 1800m length. The increase in length was around 10m a day. Newcrests next results are 27th April. About 50 days between the last update and their results. The decline could be 2400m.
Newcrest are cooling on Havieron. If Newmount take over they may have a different view. Reading between the lines it seems that Newcrest do not think Havieron is big enogh, not tier 1 status. I am certain that Shaun will have a very good idea what Newcrests issues are. It would be nice if he could explain what he feels they are. Reading some of the posts Shaun mentions that the MRE will be massive. Did he actually use that word?
DIP666, How much did we sell the Tasmanian tenements to ***** for?
BTW, I think people are honest about their opinions I just think they are being overly optimistic. This is a big risk sector. Even when you find something you have a long journey ahead.
@acechaser If 9 out of 10 tenements fail to have an economical find then it makes sense to have someone else pay for the producing the MRE. This is all big risk. Newcrests dividends are low because they are having trouble funding future developments.
I now value tenements at £1/2 million pounds. I am being generous. Finding gold, copper is very hard, finding it in economical amounts or that is economically recoverable is very hard. Until we find something a tenement is worth less than 1/2 million pounds. All the tenements other than Havieron, are worth less than £10 million pounds. At Havieron we have found 6mozes of gold. Havieron was also supercharged by Newcrest.
Step 1 - Get a tenement.
Step 2 - Get money to drill.
Step 3 - If you find something get a Farm in agreement with a major.
Step 4 - If economical then raise money to produce MRE.
Step 5 - Then raise money to build mine
Step 6 - Then raise money to go into production.
This is why a tenement is worthless. Treat all GGP tenements like this. I thought the Tasmanian tenements had better prospects. Fingers crossed we find something.