RE: Newmont v Newcrest (RIP) & DeGrey v GGP18 Oct 2024 14:51
Yup, very much agree MFU. It's clear that Newmont have been transparent about any issues, and Shaun Day has reiterated that several times, even stating that Newmont have, pretty much, completely refurbed the Telfer plant whilst it was down, bringing it back to a state not seen for years.
Tom Palmer was also very clear about that in the July Newmont presentation, when he stated:
"The approach we took with Telfer - and certainly talked to this a number of times over the last few months - is ultimately being radically transparent around those tailings issues. So we - since we saw the first of the sinkholes developed on Christmas Eve, have been very transparent with the regulators, with our workforce and with any potential buyers around, what the issue is and what the work is to remediate those issues."
"So that the issues are well understood and the remediation is well understood, and we have been completely transparent around what that looks like, and the pathway to remediate. So there is a clear pathway to remediate, and I might just get an attachment to give a little bit more detail, as to what that looks like and maybe a bit of the timing, around that, because that then serves to understand with that transparency, what any potential buyers looking at."
"In terms of the ability to acquire Telfer and to be able to run the operation for some time to come. I should add before I pass to Natascha, we continue to operate the mine. So we're building stockpiles in front of the mill. So as soon as the tailings facilities are through the remediation work, the plant can start up and we can continue to process ore and produce gold again."
Yup, those stockpiles too! CASH!
DYOR & GLA!
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