RE: Re - Newcest6 Dec 2019 07:28
What is interesting is Newcrest's heavily bullish emphasis in their recent annual report (2019) on their activities at Havieron -
'During the year, our exploration team continued to pursue several opportunities through 100% owned
greenfield tenements. Similarly, the exploration team signed several early entry partnerships with
explorers in order to gain access to prospective ground. One such partnership is with Greatland Gold, who
own the Havieron tenement close to our Telfer mine in Western Australia. Havieron is what we believe to
be a highly prospective project which, with successful exploration, could become an underground mine that could provide supplementary higher grade feed to the Telfer processing plant.'
Also in March 2019, we announced that Newcrest had entered into a farm-in agreement with Greatland Gold for the Havieron tenement. Early drilling conducted at Havieron has suggested the possibility for developing a high grade underground mine, the product of which could be processed at Telfer, just 45km away. This potential
option could transform the outlook for Telfer, potentially improving its financial performance and extending its life out beyond 10 years.'
'Further drilling is required to confirm the possibility of a high grade underground mine. If successful, the high grade ore extracted from the mine could be transferred to Telfer, which could materially improve its All-In Sustaining Cost per ounce and increase its mine life. Telfer is the largest processing facility in the highly prospective Paterson Province.'
'With sufficient capacity and capability to process other discoveries, Newcrest believes the Paterson
province presents significant additional opportunity for Telfer in the future. Newcrest has commenced drilling at
Havieron and initial drilling results have been encouraging.'
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Terms like 'transform' and 'materially improve', 'significant additional opportunities' are telling especially when one considers they are included in their annual report, a defining company document.
Apologies for barging my way into the discussion. I've been adding here as per the excellent drilling results and the bullish stance by Newcrest in relation to Havieron and the wider Paterson bode well for GGP
I am assuming that Newcrest's reference to other 'significant additional opportunities' in the wider Paterson region is reference to GGP's licences or am I making a naive assumption?
thanks
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