Gold Digger: The gold M&A deals on the experts’ chess boards - Stockhead27 Dec 2024 09:15
The promised $5bn scrip takeover of De Grey Mining (ASX:DEG) by Northern Star Resources (ASX:NST) is the big ticket item. Newmont’s US$475m sale of the Telfer gold mine to London-listed, Andrew Forrest backed Greatland Gold was the other showstopper...
....Back in Australia and the fallout from the Greatland Gold Telfer deal has analysts, fundies and brokers humming on what will follow in the hot Paterson Province. Greatland will need lower grade tonnes to eventually supplement ore from its high grade Havieron deposit and keep Telfer running full bore.
Antipa Minerals (ASX:AZY) is a regular name in these discussions, with its 2.3Moz Minyari Dome resource among the largest deposits not owned by a major. There’s plenty of competitive tension in the district as well, with Sumitomo recently announcing a more than $600 million deal for 30% of Rio Tinto’s Winu gold and copper deposit and IGO (ASX:IGO) formalising a JV with Encounter Resources (ASX:ENR) in the region.
“Antipa has a huge resource less than 40kms from Telfer, which is a great big hungry gold process facility recently acquired by Greatland Gold who plan to list on ASX,” Lion Selection Group’s Hedley Widdup told Stockhead.
“Greatland, of course, have the large and high grade Havieron deposit which is a similar trucking distance to Telfer, but is underground and will only ever provide a fraction of the annual tonnage the Telfer process plant can accommodate. Antipa’s gold project has wonderful valuation fundamentals to build a new mine and process plant, but it makes so much sense for Greatland to be looking at Antipa.”
https://stockhead.com.au/resources/gold-digger-the-gold-ma-deals-on-the-experts-chess-boards/
Sign In
Follow the stocks
