Continuing decline development at Havieron surpasses 2,800 metres
Newmont-Newcrest takeover approved
Greatland Gold plc (AIM: GGP) 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), 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) 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.
