TIDMGGP
RNS Number : 8572L
Greatland Gold PLC
08 September 2023
Greatland Gold plc (AIM: GGP)
E: info@greatlandgold.com
W: https://greatlandgold.com
: twitter.com/greatlandgold
NEWS RELEASE | 8 September 2023
Newmont - Newcrest takeover
Newcrest shareholder materials released, Newcrest shareholder
meeting on
13 October 2023 to approve acquisition by Newmont, completion in
November 2023
Greatland Gold plc (AIM:GGP) (Greatland or the Company), a
leading precious and base metals focused mining development and
exploration company, provides an update on the progress of the
acquisition of its joint venture partner by Newmont
Corporation.
As previously announced, Greatland's joint venture partner in
the Havieron project, Newcrest Mining Limited (ASX:NCM, Newcrest)
is currently the subject of an agreed takeover by Newmont
Corporation (NYSE:NEM, Newmont), which is expected to complete in
November 2023. The Havieron project is held in joint venture
between Greatland (30%) and Newcrest (70%), and Newcrest is the
manager.
Greatland notes the release by Newcrest today of a scheme of
arrangement circular, convening a meeting of Newcrest shareholders
on 13 October 2023 to vote on the proposed takeover. The Newcrest
scheme circular is available at:
https://www.newcrest.com/sites/default/files/2023-09/230908_Scheme%20Booklet%20registered%20by%20ASIC%20-%20Market%20Release_1.pdf.
As is customary, the Newcrest scheme circular attaches an
independent assessment by an Australian valuation advisory firm,
Grant Samuel & Associates Pty Ltd (Grant Samuel), as to
whether, in their opinion, the transaction is in the best interests
of Newcrest shareholders. The assessment was produced by Grant
Samuel independently of Newcrest. The Grant Samuel assessment
includes a valuation for each material project in the Newcrest
portfolio. In respect of Havieron, it is noted that:
-- The approach taken by Grant Samuel is to assess Newcrest's
interest in Havieron (70%) on an aggregated basis with Newcrest's
interest in Telfer (100%). Accordingly, Havieron has not been
separately valued. The combined valuation therefore includes
significant closure costs and other liabilities associated with
Telfer (which Greatland has no exposure to).
-- Grant Samuel has applied its own assumptions and adjustments
to arrive at their opinion as to the current combined value of
hypothetical Telfer (100%) and Havieron (70%) scenarios.
-- Additionally, because Newcrest did not complete its own
planned update to the Havieron Mineral Resource Estimate (MRE) in
August 2023, the Grant Samuel assessment is based on Newcrest's
August 2022 MRE update, which only incorporated drilling results up
to November 2021.
As previously announced, the feasibility study for Havieron is
ongoing, with value enhancing options being assessed to maximise
value and de-risk the project. The feasibility study will therefore
be a up-to-date, comprehensive and optimised assessment of
Havieron.
Assuming that Newmont's acquisition of Newcrest completes in
November 2023 as expected, Greatland looks forward to the
opportunity to work constructively with Newmont to optimise the
development of Havieron, finalise the feasibility study and
progress to a decision to mine.
Contact
For further information, please contact:
Greatland Gold plc
Shaun Day, Managing Director | info@greatlandgold.com
Nominated Advisor
SPARK Advisory Partners
Andrew Emmott / James Keeshan / Neil Baldwin | +44 203 368
3550
Corporate Brokers
Berenberg | Matthew Armitt / Jennifer Lee | +44 203 368 3550
Canaccord Genuity | James Asensio / Gordon Hamilton | +44 207
523 8000
SI Capital Limited | Nick Emerson / Sam Lomanto | +44 148 341
3500
Media Relations
UK - Gracechurch Group | Harry Chathli / Alexis Gore / Henry
Gamble | +44 204 582 3500
Australia - Fivemark Partners | Michael Vaughan | +61 422 602
720
About Greatland
Greatland is a mining development and exploration company
focused primarily on precious and base metals.
The Company's flagship asset is the world-class Havieron
gold-copper project in the Paterson Province of Western Australia,
discovered by Greatland and presently under development in joint
venture with ASX gold major, Newcrest Mining Limited (which is the
subject of a takeover by Newmont Corporation by way of a scheme of
arrangement).
Havieron is located approximately 45km east of Newcrest's
existing Telfer gold mine. The box cut and decline to the Havieron
orebody commenced in February 2021. Significant progress continues
on the exploration decline with total development at over 2,600
metres in early August 2023. Subject to a positive Feasibility
Study and Decision to Mine, Havieron may leverage the existing
Telfer infrastructure and processing plant.
Greatland has a proven track record of discovery and exploration
success and is pursuing the next generation of tier-one mineral
deposits by applying advanced exploration techniques in
under-explored regions. Greatland has a number of exploration
projects across Western Australia and in parallel to the
development of Havieron is focused on becoming a multi-commodity
miner of significant scale.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDSSASWAEDSEFU
(END) Dow Jones Newswires
September 08, 2023 03:20 ET (07:20 GMT)
Greatland Gold (LSE:GGP)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Greatland Gold (LSE:GGP)
Gráfica de Acción Histórica
De May 2023 a May 2024