Telfers Sister24 Mar 2019 16:56
GGP is 40 kilometers east of the Telfer gold mine, just around the corner from a geological perspective. This mine, which is now on its final gasp, had a deposit of 27 million ounce of gold and is operated by Newcrest Mining. Once the similarities in the geological setting of these two projects were recognized, an indication that Havieron might be Telfer’s sister, Newcrest proposed to Greatland to become the operator of the project, and to bear all its exploration costs. In exchange, Newcrest can earn in to a 75% interest in the project. As a result, Greatland can now concentrate on a number of other promising targets.
If Heineken made the Telfer gold mine then Newcrest have just bought into Telfer TWO