The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
The Western Australian Government has revealed the newest component of the Fast-Tracking Mining Approvals Strategy, a policy aimed at streamlining regulatory approvals for mining projects.
The Fast-Tracking Mining Approvals Strategy is in year three of its four-year implementation. The $27.4 million strategy was first introduced in 2022 to transform resource projects regulation under the Mining Act 1978 through multiple work streams...
https://www.australianmining.com.au/wa-mining-approvals-policy-takes-next-step/
Every little helps....
I don't know if anyone posted this yesterday, but here's the full text from the 'West Australian', and several other similar OZ publications c/o 'Tailings News Alerts':
https://www.tailingsnews.com.au/
https://cloud.excelplas.com/s/TC9LQEizAPUEazM#pdfviewer
PS. Those quotes from Shaun Day were from Dip's notes from the AIM ON AIR interview - Part 2 - 19 Jun 2023
I finally found an old post from last year with the comments from Shaun Day about the processing of Havieron ore. I guess, looking at the comments over the long weekend, the 'second' option has been discussed a bit more:
"...There are two ways to process Havieron ore, you know one is through the existing infrastructure, which is Telfer and which is 45 kilometres down the road and the existing, I guess, relatively de-risked pathway to the processing. An alternative is to build a new purpose-built plant right at the mine mouth. Now that does have certain advantages to it, that new piece of kit , it’s the right size for Havieron and you avoid haulage for years, if not more likely decades of material to Telfer."
"So, there is, depending on the size of the mine, the NPV is actually better to build a processing plant at the mine mouth. But you also have to have to weigh that up with the time frame it would take to construct, the funding you need to do that construction and the greater risk of actually undertaking a major project as opposed to taking advantage of existing infrastructure."
"I think it's very likely that we will continue the base case of taking advantage of that existing infrastructure. But world class ore bodies you can solve in multiple ways and know. So, we have the luxury of a choice bit. But right now, I would steer people towards what the PFS said, which is the base case is processing through Telfer and you can close Telfer mining and still run the processing centre."
According to this piece today,
“Mining at Telfer is continuing with the ore being stockpiled,” a spokesperson said according to the media outlet.
https://www.amsj.com.au/fifo-mine-could-be-suspended-for-months/
Most people knew this already, but it's only widely being reported today, I believe due to the official 'WorkPlace' prohibition notices being issued.
Overall, IMHO, it's actually a positive thing for us, if we're in any negotiations with Newmont, since it's better it's happened now (and also earlier) rather than later, and can be factored more fully into those negotiations, highlighting in general, too, the risks & costs involved with aging plant.
Production at one of Australia’s largest gold mines has been put on ice for the second time in less than six months due to a crippled tailings dam.
A Newmont spokesman told The West Australian that milling activities were suspended at the historic Telfer mine in the East Pilbara following “detection of seepage” from a section of the wall at one of its tailings storage facilities (TSF 7) on April 14....
https://thewest.com.au/business/mining/newmonts-for-sale-telfer-gold-mine-in-the-pilbara-halts-production-again-over-tailings-seepage-concerns-c-14563896
https://www.businessnews.com.au/article/Newmont-pauses-Telfer-after-notices
Https://www.zerohedge.com/commodities/chinese-have-grabbed-gold-throat-capital-flight-accelerates
Hello Tom. I don't generally get involved in the usual handbag swinging on here, but, looking at your earlier, always negative, GGP posts, it looks like you're possibly a day out, as most of the re-ramping trolls post on a Friday.
Clearly, as Shaun Day indicated, if Newmont want to divest Telfer they'll want to optimise it's value. You don't do that by not maintaining repair & maintenance. Even if you did, it'd be patently bloody obvious to any company interested, but especially ours, with our highly experienced BOD & management team.
Good man Dip! Thanks! TT
Yes, excellent, often very probing questions from Liam. Well done.
I give Shaun Day his due, he certainly answered all of them just as far as he possibly could, under the current circumstances.
He seemed relaxed about funding, but, until anyone has a better idea of exactly what Newmont wish to do, that's a pretty mute point.
Optionality came up several times, and indicates that there are many ways to skin the cat!
Greatland eyes full ownership of Havieron amid Newmont's potential divestment
Mining Weekly 3rd May 2024
https://www.miningweekly.com/article/greatland-eyes-full-ownership-of-havieron-amid-newmonts-potential-divestment-2024-05-03
Just to add, I still, and will always remember, Sandeep Biswas's comments, from years ago now, when he clearly stated..
“So this (Havieron) 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."
So, no change there, except that we've subsequently drilled significantly deeper & further, and, as SB also said at the time, and is pretty much still true throughout, "Every drill hole we put in there finds more gold."
Reiterated in BOLD, again!!
"Greatland currently holds a last right of refusal to acquire the remaining 70% interest in the Havieron Project"
Greatland Gold has responded to Newmont’s plans to divest its 70 per cent stake in the Havieron gold-copper project in Western Australia.
Greatland discovered the Havieron deposit in 2018, with the project being advanced under an unincorporated 30:70 joint venture originally signed by Greatland and Newcrest in November 2020.
Newmont inherited the 70 per cent stake in Havieron, as well as management of the project, when it acquired Newcrest last year.
Newmont then announced in February it will divest the 70 per cent stake it holds in the Havieron. Greatland has now said it is “strongly positioned” to consolidate the ownership of Havieron.
“Overall, we are confident there is currently significant option value in Greatland with Newmont’s 70 per cent interest in Havieron considered non-core and our existing last right of refusal on any sale,” Greatland managing director Shaun Day said...
https://www.australianmining.com.au/greatland-to-potentially-buy-newmonts-stake-in-havieron/
Some Oz coverage...
https://www.businessnews.com.au/article/Greatland-open-to-Havieron-outcomes
Indeed Matty! What's more, with that massive 50% increase in annual throughput, the PFS also stated that, based on samples," metallurgical recoveries for gold are anticipated to average approximately 88% and recoveries of copper are expected to average approximately 84% throughout the life of the project."
Greatland Gold has indicated it might try to buy back full ownership of the Havieron gold project in Pilbara, Western Australia if the opportunity arose.
In February, Newmont, the majority partner at Havieron via a 70/30 joint venture with Greatland, deemed the project non-core.
Greatland says it has a right of refusal over the Newmont interest ahead of any sale to a third party and considers itself “strongly positioned” should there be an opportunity to consolidate ownership of Havieron on accretive terms.
https://www.proactiveinvestors.co.uk/companies/news/1046425/greatland-gold-strongly-positioned-to-buy-havieron-back-if-newmont-sells-1046425.html
Could be, but I'm not ruling it out either.