Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yup, trying to breach that $2050 level again. Up to $2049 so far today...
Hi Mibb! As we know, the ADVFN GGP site has now, pretty much, declined into new depths to plunge to, new barrels to scrape, and new lows to dive down to, over the past few months. Some of the posters there, clearly require, urgent medical intervention!
Sadly, it's becoming the case here on LSE too, and I doubt I'll be around much longer, because it's completely pointless posting any research anymore, to have 99.9% of threads ruined by the usual suspect, complete & utter trolls, and posters that persistently egg them on by engaging with them.
I'm looking forward. as most are, to some clarification on what's happening going forwards, but I doubt I'll be around on here much longer.
GLA & DYOR TT
Interesting views from Steve Todoruk at Sprott, and which align with what most people are thinking about what'll happen soon.
It's also interesting that Sprott class Havieron as a Tier 1 asset, as a lot of other people do too, but, as we know, it just doesn't (currently) fit into Newmont's own in-house, classification of Tier 1.
And, as they stated in their research note a few days ago, "...great news for Greatland Gold – recall Greatland owns 30% of Havieron and have aspirations to own 100%. It’s a tier 1 asset that should start ~200koz, and can expand to 600koz, with bottom quartile OPEX, first ore late ’24 or early ’25. This is the ex Northern Star team and has deep pocket backers."
Is it Friday already?! WoW! That was quick!
@ Unimaginitive. I assume that that "naive" is aimed at me?
So, what exactly, do you believe is naive, about our BOD, and their understanding, of exactly what's going on with regards the current status of Telfer/Havieron, and any future negotiations with Newmont? I'd have thought that our company, and the BOD are well aware of any/all issues going forwards. We haven't suddenly appeared on the scene. We've been there longer than anyone else, and have a BOD that anyone else would crave for now.
For goodness sake (OK, for some, probably, rightly too... FFS!) it's really not that complex!
If there's an issue, currently, or even going forwards, anywhere, on the Newmont/Telfer/Havieron, et al, status, any party, in any negotiation, but especially us, will, almost certainly, be more than aware of it! It really doesn't need to be pointed out by anyone here, as any form of surprise!
What's more, we probably have one of the most, if not THE most, 'overqualified', BOD, on this planet, in the Oz mining industry, let alone any other!
Does anyone really think that Shaun Day, and the rest of the BOD, are not on top of all of this?! Really?!
"....Newmont also announced plans to sell two other “non-core” projects: Havieron in Australia and Coffee Gold in Canada. Palmer told Bloomberg News the company has already received interest from potential buyers.
“We've got six really high-class tier-two assets… three of them are in Ontario and Quebec. It’s a really good opportunity as we work through that process for those assets… to find a home in a go-forward company where they’re a real cornerstone asset,” Palmer said.
“I think it’s a real opportunity for Newmont going forward, but I think also a really great opportunity for those three assets in – hopefully – Canadian hands going forward.”
Palmer said that some of the cash generated from these potential sales will be used to pay-down Newmont’s debt, which grew after the company acquired Newcrest Mining Ltd. late last year for around $15 billion..."
https://www.bnnbloomberg.ca/once-in-a-generation-buy-newmont-ceo-touts-stock-as-miner-attempts-to-raise-us-2b-1.2039971
A bit more about this from the Fury Gold CEO Tim Clark, especially about the rationale and consolidation:
https://www.youtube.com/watch?v=LBVcV17eknE
With everything that's going on currently, I was thinking again about the comments made by Shaun Day in March last year, when he breached the subject of the possibility of an Australian 'Top Hat' company. Essentially he pointed out, quite rightly, that,
"Right now everything we do in Australia we get Australian legal advice, then we get UK legal advice - so it costs us twice as much, twice the time, sometimes those advice are not the same so then we need to get them in a room, it takes us three times the cost and time."
"We'll likely try to put an Australian vehicle top hat on top of the Havieron entity so we don't have to go through UK legal advice, we do it within the Australian jurisdiction, and I think that really reduces our cost and also speeds up our cycle time to be able to do things - so London still becomes remains the primary liquidity and where our shares trade but I think having that simplicity of structure will help and again we'll explain this more but I and I'll explain it more tonight for those coming to the town hall meeting but I think that's going to really help simplify the company, reduce costs and make better use of the platforms we have."
My best guess is that, under most of the possible options we have going forwards now, this issue will soon be mentioned again. Maybe as early as next week?
Fury Gold Mines (TSX, NYSE: FURY) announced Monday that the company and affiliates of Newmont (NYSE: NEM, TSE: NGT) have entered into an agreement for Fury to purchase Newmont’s 49.978% interest in the Éléonore South project in Quebec for C$3 million ($2.2m).
As part of the consolidation for Éléonore South, Fury will also spend C$1.3 million ($960,000) to buy the approximately 30.4 million shares of Sirios Resources held by Newmont for investment purposes.
Newmont said last week it planns to sell six non-core assets, including Éléonore in Quebec, the Musselwhite and Porcupine mines in Ontario, the Coffee project in the Yukon Territory, and its 70% stake in the Havieron joint venture with Greatland Gold in Western Australia, with proceeds from the transactions used to cut debt....
https://www.mining.com/fury-gold-mines-buys-newmonts-50-stake-in-eleonore-south-project-in-quebec/
For anyone who possibly doesn't realise how complex (and expensive) mine closure's can be, here's the 'Havieron Mine Closure Plan', originally based on a 12 year life, but subsequently extended...
https://www.epa.wa.gov.au/sites/default/files/Referral_Documentation/Appendix%20D%20Havieron%20Mine%20Closure%20Plan.pdf
Hi napthman! I agree my post wasn't particualrly clear in it's format, maybe on purpose...The point I was trying to make, was the same as one I made a few times back last summer about Rio mentions.
Then, I posted, "I find it interesting, even slightly intriguing, what I see as the obvious shift in emphasis now in Shaun Day's comments from Newcrest to Rio. I don't know if anyone else noticed, but Shaun didn't mention Newcrest once in his presentation to Diggers & Dealers, even when talking about Havieron. If I remember rightly, he said something like "our joint venture at Havieron", but Newcrest wasn't mentioned. However, Rio definitely was, and emphasized. The same in his Proactive interview. It was clear, to me anyway, that the relationship with Rio was being promoted, and I think you can read some of this into the email. Anyway, just my thought. if it means anything more, who knows, but I suspect it may."
IMHO, Rio Tinto would be a good fit for us, and us for them. Charles Archer came up with them as possible options too in his piece on Friday. I just feel that there is more in this 'promotion' of Rio, that I perceive, than maybe meets the eye right now, but, as always, only time will tell.
A lot of mentions for Rio Tinto, again!....Hmm
Indeed! There's a great piece published on Friday from Charles Archer about GGP/Telfer/Havieron, with various potential options going forwards. Most of these could well involve Wishbone, but especially, of course, if Red Setter comes up trumps!
https://investingstrategy.co.uk/mining/gold/greatland-gold-choices-choices/
Hi SA! Indeed! He said...
“So this mineralisation is quite different in many ways to what we are seeing in Telfer”
“For a start its much higher grade, I mean, we haven't seen these sort of grades at this sort of volume in the Paterson”
"The reason we are excited, and you've seen all the drill holes is that we have this high grade kind of what looks like a parabola on its side where we think that the first mining will start."
"Which will involve high grade stoping, which we will truck to Telfer. So this is, you know, 10 times the grade of what we're currently treating at Telfer."
Thank you Sue! An excellent, perceptive, well researched piece by Charles Archer. I would just add that, on 'X', Stuart Hinds subsequently added the possibility of a merger with another company (eg. Northern Star) being another option.
IMHO, anything is possible going forwards!
Any company who's stated pro, or anti, Telfer/Havieron, in the past, is still fair game for putting in a bid!
There's absolutely nothing, whatsoever, right NOW, to think anything different!
There's a whole load of cards being played close to the chest here!
What's more, IMHO, one of the major beneficiaries will be, yes, us, GGP!
DYOR & GLA!
Not me, so clearly not "everyone" a word, sadly, and increasingly used today, when it's clearly not the case. It's not bad at all, IMHO. Infact this was the scenario that many were expecting anyway, and we couldn't be better set up to handle it than we are now, with an amazing (overqulified some say) BOD.
As Shaun Day said in one of the 'Sunday Roast' podcasts a few months ago, that if Newmont chose to divest Telfer/Havieron as part of their $2 billion of divestments plan, it would be an "amazing opportunity." He also noted that, "shareholders should have confidence that there is a team and BOD built to do that and some of the shareholders such as the largest Wyloo Metals give the strategic capability to do that as well."
Anyone who questioned in the past the amazing BOD that we have now. will maybe understand now. We couldn't really ask for a better group of industry, financial & legal experts to have on board right now!