Greatland Gold PLC Havieron Quarterly Update (3744Q)
17 October 2023 - 6:56PM
UK Regulatory
TIDMGGP
RNS Number : 3744Q
Greatland Gold PLC
17 October 2023
Greatland Gold plc (AIM: GGP)
E: info@greatlandgold.com
W: https://greatlandgold.com
: twitter.com/greatlandgold
NEWS RELEASE | 17 October 2023
Havieron Quarterly Update
Continuing decline development at Havieron surpasses 2,800
metres
Newmont-Newcrest takeover approved
Greatland Gold plc (AIM:GGP) (Greatland or the Company) is
pleased to provide an update on activities and developments at
Havieron, the world class gold-copper project located in the
Paterson Province of Western Australia, for the September 2023
quarter.
Highlights
-- Decline development: Progress continues with total
development to date now exceeding 2,820 metres.
-- Newmont-Newcrest takeover: All regulatory, shareholder and
court approvals received with implementation shortly.
Development update
Greatland's Havieron joint venture partner, Newcrest Mining
Limited (ASX:NCM, Newcrest), released its quarterly activities
report today, reporting in respect of Havieron that total
development has reached 2,824 metres at 8 October 2023. The main
decline has now achieved 2,030 metres of the 2,800 metres required
to reach the base of the Permian cover. Development is now
approaching the lower and final aquifer that lies at the base of
the Permian cover.
Newmont-Newcrest takeover approved
Newcrest is Greatland's 70% joint venture partner in the
Havieron project. As previously announced, Newcrest is currently
the subject of an agreed takeover by Newmont Corporation (NYSE:NEM,
Newmont) that is due to complete in November. It has been announced
that all regulatory, shareholder and Court approvals required for
implementation of the transaction have now been received, with
implementation due to occur on 6 November 2023.
With the transaction now unconditional, Greatland welcomes
Newmont as its Havieron joint venture partner. Newmont is the
world's leading gold company and a producer of copper, silver, zinc
and lead. Newmont operates a global portfolio of world-class
projects and is led by a highly experienced management team with a
proven track record of project development and value creation.
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 / George Grainger | +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 an approved takeover by Newmont Corporation that is due
to complete on 6 November 2023).
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
with total development now exceeding 2,820m including over 2,030m
of advance in the main access decline (as at 8 October 2023).
Subject to a positive feasibility study and Decision to Mine,
Havieron is intended to leverage the existing Telfer infrastructure
and processing plant. Access to Telfer will de-risk the development
and reduces capital expenditure.
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.
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