Member Info for TimberTrader

Just for information, the current GGP SP @ 5.4p is the same as it was at the end of April.

Sure, it's not great, and, of course, who knows where it'll go, but right now, with what we NOW have, it's pretty damn good, IMHO!

My thoughts are that this is a very complex takeover, and I doubt that any 'city analyst ' can accurately value everything in the mix. Therefore. as Charles Archer has, and the Australian 'Financial Review' has, they've used the last Grant Samuel valuation as a base point, and, on that basis, IMHO it's a great deal for us, as stated by the 'Financial Review, or, maybe even, as analyst Charles Archer states, "it's a f*****g steal".

Time will tell....GLA!

Personally, I agree with Charles Archer that this was a "f*****g steal" for us!

As everyone knows. who knows!

Indeed, it's highly complex, and I doubt that any 'city analyst ' can accurately value everything in the mix. Therefore. as Charles Archer has, and the Australian 'Financial Review' has, they've used the Grant Samuel valuation as a base, and on that basis, it's a great deal for us (or as Charles Archer states, "it's a f*****g steal").

Time will tell....GLA!

Oz press positive Greatland too!

The Financial Review, ".....Greatland appears to have got a good price based on previous valuations put on Havieron and Telfer; an independent arbiter valued Havieron at about $US1.2 billion in August 2022, when Greatland was haggling with Telfer’s previous owner Newcrest over the value of the asset. Newcrest’s 100 per cent stake in Telfer and 70 per cent stake in Havieron were collectively valued at between $US500 million and $US600 million by Grant Samuel in September last year in its capacity as independent expert for Newcrest shareholders evaluating Newmont’s $26 billion takeover offer."

.....Greatland appears to have got a good price based on previous valuations put on Havieron and Telfer; an independent arbiter valued Havieron at about $US1.2 billion in August 2022, when Greatland was haggling with Telfer’s previous owner Newcrest over the value of the asset.

Newcrest’s 100 per cent stake in Telfer and 70 per cent stake in Havieron were collectively valued at between $US500 million and $US600 million by Grant Samuel in September last year in its capacity as independent expert for Newcrest shareholders evaluating Newmont’s $26 billion takeover offer.

Wyloo chief executive Luca Giacovazzi said Greatland was on track to become “a leading Australian gold producer”.

https://www.afr.com/companies/mining/greatland-gold-bound-for-asx-after-telfer-deal-20240911-p5k9n4

Greatland Gold wants to list on the ASX within six months after agreeing to pay up to $US475 million ($713 million) for Newmont Mining’s stakes in the Telfer and Havieron gold and copper assets.

Almost $US334 million worth of new Greatland shares will be issued to help pay for the deal, with Andrew Forrest’s private company Wyloo set to subscribe for up to $US100 million to maintain its shareholding in the London-listed junior.

Greatland was the hot favourite to acquire the 47-year-old Telfer mine because it already owned 30 per cent of the neighbouring discovery that will underpin Telfer’s future, Havieron.

The acquisition makes Greatland the dominant player in Western Australia’s Paterson Province where Rio Tinto is considering selling a stake in its Winu copper and gold discovery.

Greatland already has exploration partnerships with Rio in the region and chief executive Shaun Day would not rule out a bid for Winu in future.

“Given we now own the only operating infrastructure [Telfer mine] in the Paterson, it would be a sensible discussion at some stage,” he said.

Greatland had not wanted to seal the Telfer deal until it was confident that Newmont had fixed the tailings dam leaks that brought production at the mine to a halt earlier this year.

The two companies said Telfer was expected to resume production within seven weeks and the mine is expected to produce 426,000 ounces of gold equivalent over the next 15 months at an all in cost of $US1454 an ounce, well below the $US2517 that a gold ounce was fetching on Tuesday.

Production volumes of that scale would allow Greatland to challenge for fifth position in the ranks of ASX listed gold producers. Mr Day said the fundraising process had revealed strong desire from Australian investors for a new copper and gold producer on the ASX.

“This gives us a very clear pathway to ASX listing,” he said.

“We will definitely want to come, and we are committed to coming onto the ASX within the next six months.”

The Telfer deal structure will require Greatland to pay $US155 million of cash upfront, plus repay the $US52.4 million it owes Newmont for previous works on Havieron.

Greatland shares worth $US167.5 million will also be issued to Newmont, meaning Newmont will own 20.4 per cent of the company once the deal completes.

The world’s biggest gold miner could eventually receive a further $US100 million in payments depending on the trajectory of gold prices and Greatland’s ability to successfully produce gold and copper at Havieron and Telfer.

Telfer is one of six mines Newmont wants to sell this year as part of efforts to focus its portfolio on “tier one” mines.....

Https://im-mining.com/2024/09/10/newmont-selling-telfer-and-haverion-assets-to-greatland-gold/

"This might get interesting for Greatland Gold (GGP) investors" Willem Middelkoop

https://x.com/wmiddelkoop/status/1833491017590575594/photo/1

https://x.com/wmiddelkoop/status/1833491017590575594

Halfords may now finally need to stock up on bicycle clips!

Just to add, for anyone that doesn't know, the Australian ASX is an HMRC 'Recognised Exchange' and ASX shares can be held in an ISA (which, from previous chat, many posters on here do already).

This Money of Mine chat took me back to an interview on Kitco with Tom Palmer 6 months ago, where he stated:

"There are six assets that we've listed for the investment, or what we call for divestment. Every single one of them are high class assets, each of them have great teams, but they are tier 2 assets, that means that their their production profile is not going to hit our T1 definition so they won't get the management time and the capital within a Newmont portfolio.

So when we look at what's best for those assets, where those assets are going to realise their full potential it's an opportunity for those assets to be cornerstone assets in another company's portfolio and those teams and those bodies can realize their full potential potential.

If you look back at Newmont's track record over time we divested .....into Northern Star and Northern Star today is a great gold mining company in the Australian context, has assets that were in the Newmont portfolio that are getting the time and attention within within Northern Stars portfolio with KCGM the super pit being their their core asset... why when it's the single asset there are many many good stories of Newmont assets finding a home in a portfolio where they can get the time and attention and deliver value for shareholders and and deliver economic livelihood for workforces and the surrounding communities."

Greatland would become, "The natural consolidator for the region".

Https://www.youtube.com/watch?v=88ss0jYKRZ0

So, it almost certainly was a positive omen last week!

What's more, as the 'Financial Review' stated today, 'Greatland’s 30 per cent stake in Havieron means it has the right to match offers for Newmont’s stake in Havieron. While Greatland does not have matching rights for Telfer, most buyers would not be interested in Telfer if it did not come with Havieron, meaning Greatland has held all the aces in the negotiations.'

Andrew Forrest-backed Greatland Gold has confirmed it is close to buying Newmont’s Telfer gold and copper mine in Western Australia, but says it wants leaky tailings dams at the site fixed first.

Street Talk revealed on Monday afternoon that Greatland was set to issue close to $500 million of new shares to help fund the deal, with major shareholder Andrew Forrest set to subscribe for his share of stock....

Greatland has been the hot favourite to buy Telfer since Newmont formally put the asset up for sale in February because Greatland already owns 30 per cent of the gold and copper discovery that underpin’s Telfer’s future; Havieron.

Telfer was a marginal asset bound for closure in 2018 when Greatland discovered Havieron about 45 kilometres away.

Telfer’s owner at the time, Newcrest Mining, rushed to buy 70 per cent of Havieron in a bid to ensure its prospective geology could be processed at Telfer’s established infrastructure.

Newmont became Greatland’s partner at Havieron when it acquired Newcrest last year. Newmont is selling Telfer - and several other mines - because it does not consider them to be elite by global standards.

Greatland’s 30 per cent stake in Havieron means it has the right to match offers for Newmont’s stake in Havieron. While Greatland does not have matching rights for Telfer, most buyers would not be interested in Telfer if it did not come with Havieron, meaning Greatland has held all the aces in the negotiations.

But 47-year-old Telfer is showing signs of wear and tear; two tailings dams at the mine have been leaking in recent years, forcing Newmont to curtail production for repairs earlier this year.

Greatland told investors that it wanted the dams fixed before it acquired Telfer.

“Settlement of the potential acquisition is proposed to be conditional on completion by Newmont of ongoing remediation works in respect of the Telfer tailings storage facility,” said the company.

Dr Forrest’s private company Wyloo Metals owns 8.5 per cent of Greatland, while three of Greatland’s seven-person board of directors have historic links to Dr Forrest’s flagship company Fortescue.

“Existing cornerstone shareholder Wyloo is intending to provide material support for the potential acquisition,” said Greatland on Monday evening.

The long-awaited combination of Telfer and Greatland could be just the first step in a broader consolidation of WA’s Paterson Province; Rio Tinto is looking for a partner to develop the Winu copper and gold discovery about 100 kilometres north of Havieron.

https://www.afr.com/companies/mining/greatland-gold-wants-telfer-dams-fixed-before-takeover-20240909-p5k97b

Https://www.proactiveinvestors.co.uk/companies/news/1055797/apple-iphone-16-what-to-expect-from-the-ai-powered-upgrade-1055797.html

InvestAce Absolute nonsense! There were no large sells, whatsoever prior to the suspension.

AUD 500 million = GBP 254 million.

AUD - It's an Australian publication.

"Potential backers have been told mining billionaire Andrew Forrest, already a backer of Greatland Gold, will tip in $100 million."