Deposit being developed and nearby Telfer operation is definitely 'transformational' for acquirer
Andrew Forrest-backed Greatland Gold is buying the Havieron and Telfer gold assets in Western Australia from Newmont Mining in a transaction with a headline value of US$475 million.The deal involves cash, deferred payments and scrip and will result in Newmont holding about 20% of Greatland subsequent to the AIM-listed company raising circa US$325 million in new equity.
The Greatland "base case" is for a circa 260,000ozpa operation with all-in-sustaining-costs of just over $800/oz for 15 years, within a current total expected 20-year mine life.But as part of the Greatland feasibility work, a potential mining throughput expansion utilising a bulk ore handling solution will be assessed.A decline at Havieron is understood to be within 60-80m vertically of the start of the mineralisation.
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