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Sounds like Artemis are banging the Havieron drum to attract a new j/v partner.
Dip, I agree with your comment below…
“ I have the thought that if other parties are bidding and GGP are aware it makes sense to see what is being offered to match the highest offer Newmont negotiate”
Does anyone know if there is a bidding period, for want of a better term?
When do they call time on bids.
There is only one elephant in the room and I think that we will see a share consolidation before or at the time of an ASX listing.
Newmont May throw in the 10% of Antipa that they own into the deal along with our other j/v with them at Black Hills.
Obviously Antipa should have first refusal, but if they are strapped for cash as someone suggested on here the other day, then it would give us a toe hold in that company.
I still believe Scallywag will come good once everything is settled.
How far is Scallywag from Telfer?
Can I also throw this into the mix.
If we acquire Telfer, would the reclamation costs of restoring the mining areas back to nature be tax deductible against Havieron’s mining costs?
Great minds think alike lol! (Leave the rest of the saying out) 😂😂
My post last night was done just before I got down to sleep, but something was telling me I’d missed something. I was too tired to add it then.
Whilst I talk about finance, I think the cost of acquiring Telfer/Havieron, could be cut by offering Newmont a one or two percent Net smelting royalty. What do others think?
I should have added that if we owned both Telfer and all of Havieron, the extra 10% above costs for processing shouldn’t apply, making the all in costs much cheaper. This I believe could have an impact on the affordability of any bank finance.
I believe We have finance arranged to enable us to get to mining for our 30% of Havieron and if I remember correctly, it was said that could be repaid quickly from our 30% of the profits.
If we take control of 100% of Havieron, then we should be able to raise the finance pro rata to the present arrangement and as we would have 100% of the profits, should in theory repay the loan just as fast.
We had to raise finance as our part of the initial banking arrangement and I would expect us to have to arrange further finance for the extra 70% being purchased. Hopefully this will be done with an ASX listing and new institutional investors coming on board.
Shaun having delayed taking up the earlier banking arrangement was good foresight not only
in delaying interest payments when inflation and thus banking charges were high, but in waiting to see how the Newmont restructuring developed. Did Shaun even at that stage have an inkling that Havieron would be put up for sale?
Don’t forget, we have right of last refusal. If someone else wants to outbid us, then great, that makes our 30% that much more expensive.
I think this has been a done deal for quite some time. Shaun happy to pause the decline, MRE ( for as long as possible) and not upset the apple cart with Newmont.
Let’s see how this plays out. Good luck all holders.
Everyonesawinner I think you may be thinking of the decision to mine, where if one j/v partner didn’t vote to proceed, the other party could purchase the others share of Havieron at fair market price.
Wyloo to lend GGP the money to purchase Telfer/Havieron.
Ggp then sells 50% of Havieron to Wyloo.
A stated case has shown that this could be done and is lawful.
Interesting article generally, re NSR.
https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/investing-net-smelter-royalty-returns/
Just out of curiosity, what would a company expect to get for a 5% net smelting royalty? Anyone any knowledge of other such deals?
Do you think Newmont will take Ernest Giles as a deposit ( forgive the pun), and let us pay the remainder once we start mining. ;0)
Obviously the focus is on Havieron/Telfer, but what will happen to our J/V’s with Newmont and also with their other mining companies dotted around Western Australia?
Has anyone read or heard about those?
Snap Red trader. lol.
MH01, Telfer is just about making a profit and with the cost of restoring the area after they finish mining, to me, does not make it a going concern. Anyone buying it will expect to get it for peanuts or even with a negative value imho.
The purchaser of the 70% of Havieron, should be in a very strong position. Again imho.
With Telfer being sold off, I wonder what the views of the Western Australian government are?
Will they have concerns over the potential job losses etc.
The politics of such a move after gaining consent from the government over the takeover of Newcrest and now divesting of one of its assets must have been discussed.
Wyloo already have almost 15% of the company if the warrants are exercised. They have also loaned GGP 50 million extra, which could possibly be converted to shares. ( Does anyone know the terms for repaying the loan?).
The BOD have past history with them and lets face it, no one has been trying to defend the sp for some time now.
We are at the mercy of the big boys and we have to hope they will treat us fairly.