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As the RNS stated last week, "Greatland expects an updated Havieron MRE to be completed in the December 2023 quarter", so anytime between 1st October - 31st December 2023.

- Wyloo Metals boss Luca Giacovazzi says EV makers are desperately short on nickel

- The head of Andrew and Nicola Forrest’s private mining vehicle has pledged a major ramp up in exploration at its newly acquired Kambalda assets

- BHP also planning major rebuild of smelter as battery nickel investment splurge rises

The head of Andrew and Nicola Forrest’s mining vehicle Wyloo Metals says carmakers are struggling to find nickel to stick in electric vehicles in a sign the sector is ripe for investment.

It comes as BHP (ASX:BHP), a customer of Wyloo’s recently acquired Mincor Resources business in WA’s historic Kambalda nickel district, launches into one of the biggest investment splurges its once near dead nickel division has seen in 50 years.

Wyloo Metals CEO Luca Giacovazzi, who has spearheaded a dramatic expansion of Fortescue founder and iron ore billionaire Forrest’s private mining enterprise in recent years, told the Diggers and Dealers Mining Forum in Kalgoorlie last week contracts signed to date showed how short carmakers would be of the key cathode material...

...Wyloo also boasts investment in rare earths play Hastings Technology Metals (ASX:HAS) and gold-copper explorer Greatland Gold, but counts prospective investments of around $3b in the nickel business as its main game.

https://stockhead.com.au/resources/carmakers-are-desperate-for-nickel-and-have-nowhere-to-look-its-spurring-majors-to-invest-big/

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.

GLA

BTW! How many of the current 'negative' posters, about Shaun Day and the BOD (It's not just him) have complained about the recent J/V with Rio, which has involved negotiations OVER A YEAR OR MORE?!

Don't get me wrong, I totaly understand the frustrations, but, for goodness sake, let them get on with what they think is best, under a highly complex situation, which is also, undoubtedly, changing weekly, if not daily!

@ SpadesAspade That essentially covers my view too! IMHO, we're regurgitating the same old nonsense from some investors that don't seem to understand what's happening in a HIGHLY complex M&A situation, which is one of the largest, ever, in gold/copper mining history.

I've no more to say, as it's getting very tediuos trying to explain what's patently obvious, IMHO.

GLA!

Gold miner Newcrest has forked out hefty payments to former chief executive Sandeep Biswas and another senior executive who left the company suddenly in December.

Mr Biswas, who presided over the miner for almost nine years and left last year after complaints about his leadership, took home $US4.22 million ($6.47 million) in the year to June 30....

...If Newmont’s proposed takeover of Newcrest was approved, which appears likely, the executives’ long-term incentives for 2021 and 2022 would fully vest not long before the transaction was approved, the spokeswoman said.

Interim CEO Sherry Duhe, the former Woodside chief financial officer who took up the position earlier this year, was given 40 per cent lower fixed pay than Mr Biswas to reflect her lesser experience, the company said. Ms Duhe’s total remuneration, including bonuses, is 50 per cent less than that of Mr Biswas.

Mr Biswas left the top job last December, just nine months after he told The Australian Financial Review he was working to change his leadership style and build a more inclusive culture.

In that interview, Mr Biswas apologised to anyone who felt bullied during their time at the company....

https://www.afr.com/companies/mining/newcrest-forks-out-cash-to-former-ceo-coo-20230811-p5dvqq

Nice find, thanks MH01.

PS: Carrying amount (Value) is the amount at which an asset is recognised after deducting any accumulated depreciation (amortisation) and accumulated impairment losses thereon. (Australian Accounting Standards)

Up 48% in the past year from USD151 million to USD223 million.

INTEREST IN JOINT OPERATIONS

A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control.

When a Group entity undertakes its activities under joint operations, the Group as a joint operator recognises in relation to its interest in a joint operation, its share of assets, liabilities, revenue and expenses from those operations and revenue from the sale of its share of the output from the joint operation or from the sale of the output by the joint operation.

HAVIERON JOINT VENTURE

The Havieron Project is operated by Newcrest under a Joint Venture Agreement (‘JVA’) with Greatland Gold plc (‘Greatland’). Newcrest holds a 70% joint venture interest in the Havieron Project.

Pursuant to the JV agreement, key operational decisions of the JV require a unanimous vote and therefore the Group has joint control. For segment reporting, the Havieron JV is included within the ‘Exploration and Projects’ segment.

The carrying value of the Group’s interest in the Havieron JV as at 30 June 2023 is US$223 million (2022: US$151 million).

https://www.newcrest.com/sites/default/files/2023-08/230811_Newcrest%202023%20Full%20Year%20Results%20%E2%80%93%20Appendix%204E.pdf

Yup, still up on the week, despite the usual de-rampers attempting to push it lower!

Have a good weekend! TT

@ MH01 "Very positive opinion on GGP"

No surprise there, despite the usual de-rampers busting a gut attempting to firce the sp down!

It's surely amusing, to everyone, that they all profess to be shareholders?!

Are they kidding, or are they deranged?!

IMHO, within any ongoing corporate strategy/M&A activity, that's a positive, not a negative, but, as always, the regular de-rampers here think otherwise. I have no issue with a different view, but, IMHO, it's very clear to me!

@ plode, "We all know the answer here and it is not a pleasant one"

Really?! Pray, do tell...

@ daveri007 "None of it makes any sense - who else in the market doesn’t update market sensitive data of well over 180,000 meters of drilling?"

If you're so concerned, why don't you just ask them, and then let us know?!

Greatland Gold plc, a leading precious and base metals focused mining development and exploration company, has today announced an update on the Havieron gold-copper project, its flagship asset, in the Paterson Province of Western Australia.

The world-class Havieron gold-copper project was discovered by the £377m capitalised Greatland and is presently under development in joint venture with Newcrest Mining, the ASX gold major which is being taken over by the Newmont Corporation.

The box cut and decline to the Havieron orebody, which commenced in February 2021, has seen significant progress continuing on the exploration decline with total development at over 2,600 metres in early August 2023.

The main decline continues to progress, having surpassed 1,840 metres.

Decline support excavations for ventilation, services and materials handling takes the total development to over 2,600 metres.

The decline has continued to progress through improved ground conditions since successfully developing through the middle aquifer late last month....

Sadly some people just don't get it, and are hell bent on de-ramping the project (OK, just my opinion!)!

https://ukinvestormagazine.co.uk/greatland-gold-making-significant-progress-at-its-havieron-gold-copper-project-and-expecting-to-announce-a-new-mineral-resource-estimate-in-q4-2023/

GLA!

Yup, it still remains that we're still up 5% this week currently, despite the usual doom mongers!

@ Chuffchuff. I wish i had "5, 7 or even 9 times" the recommends for that one! 100% agree! TT

As you imply JD, he never "promised" anything. It's just another manipulation of the truth.

@ Toffers Generally, yes, but, as I've already implied, there are also exclusions from these notification requirements relating to impending developments and matters in the course of negotiation, such as acquisitions or disposals. There are also dispensations in place where the disclosure to the public of information might prejudice the company's legitimate interests.

IMHO, you can read a lot about the company's view on the MRE update in what Shaun Day stated back in March:

"We think shareholders have been patient, we think there's a good resource update coming we want to share that with the market so I think we're happy to align with Newcrest, I think there's a broader strategic reason why that makes sense in this kind of takeover scenario where you know there are a range of opportunities that may occur for us as Greatland - but I don't think we would past that date be comfortable with no update to the resource so hopefully that gives people confidence that it's coming but also an understanding as to why I think it's in our interest both technically and commercially to let us run its course and we do like being aligned with Newcrest, they're our JV partner the relationship's important and strong."

I can't answer that, but, it remains that I trust the MD & BOD to release it when they determine it's best to do so in a very complex, evolving situation, involving several players. Others think otherwise, and that's fine of course. It's my personal view at this time.