RE: Article re: Newmont from Twitter, refer to the Hav comments4 Jul 2023 18:11
I agree, and have more recently felt that it's more likely that Newmont will want to keep Havieron/Telfer on their books and get the production flowing as soon as possible.
As Shaun Day said some time ago (and similar stated by Sandeed Biswas), "Havieron just continues to give, and that's all part of delivering, firstly, the start up mine, as the SE Crescent, tailor made for our balance sheet - Drive in, get into production, move that high grade ore through the mill and generate free cash flow..."
Compare that with the ongoing issues with Wafi-Golpu, which. as many will know, I've been stressing for well over 2 years now.
As far as I can remember, there's been little further news on Harmony Gold achieving the required Special Mining Lease that is required for Wafi-Golpu since it being stalled since 2019, first by the change of government and, shortly after, by the global pandemic.
A Memorandum of Understanding was signed in April this year, which included the terms on the likes of the PNG government’s stake in the project, royalty and tax rates and commitments by the JV to invest in local infrastructure and social development, but, even if/when the licence is actually granted, Wafi-Golpu is expected to take about five years to the time it generates its first ore
My point is, and has always been, that this continuing delay, which still doesn't look like it's going to be resolved soon, does throw a bigger light on Havieron, since it's now even more necessary in the Newmont/Newcrest growth portfolio, and, unlike Wafi-Golpu, Havieron is, of course, in one of the lowest risk and safest mining jurisdictions in the world.
Only time will tell, but it's patently clear that Havieron would be generating free cash flow many years before Wafi-Golpu!
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