Proactive article8 Oct 2021 22:47
Greatland Gold to shine
Tuesday sees one of the most keenly awaited events for years in the junior gold mining sector.
Aussie giant Newcrest will publish its pre-feasibility study for the Havieron project in Paterson, WA.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) originally discovered the project but has taken a back seat while Newcrest does the heavy exploration lifting in return for a stake that can rise to 70% once the programme completes.
Speculation has been rife for some time that if the numbers are good, Newcrest might go the whole hog and buy Greatland lock, stock and barrel.
The PFS, which will contain some key financial projections, should give a decent steer on whether that is likely.
In the meantime, Greatland shares have already risen more than 30% in two days on news of the 12 October PFS publication date.
Havieron’s current resource is 52mln tonnes hosting 4.2mln ounces on a gold-equivalent basis, but some brokers expect this to be materially expanded on Tuesday.