"Speculation is mounting that Newcrest is already moving forward with plans for a sale of its Telfer mine in Western Australia ahead of Newmont finalising its $29bn buyout..."
https://www.theaustralian.com.au/subscr ... our=append
Newcrest looking to offload Telfer gold mine - The Australian
-
CanisLycaon
- Reactions:
- Posts: 141
- Joined: Sun Jun 26, 2022 1:12 pm
Newcrest looking to offload Telfer gold mine - The Australian
"Every drill hole we put in there finds more gold"
-
CanisLycaon
- Reactions:
- Posts: 141
- Joined: Sun Jun 26, 2022 1:12 pm
Re: Newcrest looking to offload Telfer gold mine - The Australian
"....Telfer produces copper and gold and is the largest processing facility in the Paterson Province. It has the valuable Havieron deposit 45km away, which is 70 per..."
"Every drill hole we put in there finds more gold"
-
CanisLycaon
- Reactions:
- Posts: 141
- Joined: Sun Jun 26, 2022 1:12 pm
Re: Newcrest looking to offload Telfer gold mine - The Australian
Speculation is mounting that Newcrest is already moving forward with plans for a sale of its Telfer mine in Western Australia ahead of Newmont finalising its $29bn buyout of Australia’s largest listed gold producer.
There are suggestions in the market that an investment bank is already in Newcrest’s corner for a sale.
Telfer produces copper and gold and is the largest processing facility in the Paterson Province.
It has the valuable Havieron deposit 45km away, which is 70 per cent owned by Newcrest and 30 per cent by Greatland Gold.
Once Newcrest is owned by Newmont, expectations are that the North American group would sell Telfer and the share of Havieron, consolidate the region and put its ore through Telfer.
As earlier reported by this column, Greatland Gold has been exploring options to acquire Telfer and take back control of Havieron, and expectations have been that Telfer could be for sale with or without the merger.
Greatland’s market value is £356m, so it would be a big bite for the group given a deal would be in the hundreds of millions, but one of its major shareholders is the billionaire interests of Andrew Forrest.
It has plans to list on the Australian Securities Exchange, which may be a motivation for an acquisition.
Familiar with the asset is Bank of America, which worked on a sale in 2015 when Newcrest considered a divestment, or Lazard could be a contender.
But Bank of America is involved in Greatland Gold’s listing, which could create a conflict of interest.
There are suggestions in the market that an investment bank is already in Newcrest’s corner for a sale.
Telfer produces copper and gold and is the largest processing facility in the Paterson Province.
It has the valuable Havieron deposit 45km away, which is 70 per cent owned by Newcrest and 30 per cent by Greatland Gold.
Once Newcrest is owned by Newmont, expectations are that the North American group would sell Telfer and the share of Havieron, consolidate the region and put its ore through Telfer.
As earlier reported by this column, Greatland Gold has been exploring options to acquire Telfer and take back control of Havieron, and expectations have been that Telfer could be for sale with or without the merger.
Greatland’s market value is £356m, so it would be a big bite for the group given a deal would be in the hundreds of millions, but one of its major shareholders is the billionaire interests of Andrew Forrest.
It has plans to list on the Australian Securities Exchange, which may be a motivation for an acquisition.
Familiar with the asset is Bank of America, which worked on a sale in 2015 when Newcrest considered a divestment, or Lazard could be a contender.
But Bank of America is involved in Greatland Gold’s listing, which could create a conflict of interest.
"Every drill hole we put in there finds more gold"