GGPChat

Hi all,

I am very concerned re the new venture headed by Sandeep and the threat to Haverion/GGP:
https://www.reuters.com/business/financ ... 024-02-23/

It looks even with the name Hyperion similar to our investment Haverion that he will be on the front foot in regards to aquiring Newmonts divestment of Haverion/Telfer and he also knows that we proposed through independant fair market value of 60 million for 5% of Haverion, and he chose not to take up the offer while CEO of Newcrest.

What, if he now as head of the new Hyperion mounts a hostile bid for GGP / Haverion as well as (maybe already in train) aquiring Nemonts divestment of Haverion / Telfer, whatever he chooses to comes first if that is their strategy.

He knows Haverion / Telfer inside out as been managing it from JV with us, and fellow senior Newcrest management now in tow with Newmont who have tried to low ball us in past.

It all seems a bit too convenient that DFS / DTM has been delayed with both Newcrest then Newmont stating de-risking factors before publishing. May was to allow time for Sandeep to get investment fund behind him.

Quality of our board is excellent but...this Elliott investment fund has very deep pockets ($65 billion) so are capable of taking on Wyloo easily....any thoughts on hostile action coming our way soon anyone.



GLTA

No thoughts and not selling any till I hear what Shaun’s plans are if he can tell us by tuesday

FWIW not worth worrying about what hasn't happened -
If there is to be a battle for Havieron then so be it. Whoever buys the 70% will want it in production ASAP
Very much doubt Wyloo will back down without a massive fight. No way they roll over and take the money unless they get double or tripple.
And whoever bids has to pay big overs, given the Greatland LROR. (Not sure it's that attractive for this reason).
And nobody is going to deliberately slow down the development of Havieron becuase lost time in mining is effectively lost money (given the amount already invested).
The lost time in delays also hurts long term profits of the big players, given the amount invested; They want the asset to pay back its costs as soon as possible..)
So this goes into production with Newmont, or Sandeep or without them.

Hopefully Shaun will steer us on Tuesday in regard to what he believes is in train with other potential bidders strategies.

The de-risking of the project must be concluded by now at Newmont senior management level as there is no risk to neither Newcrest now Newmont as it's being divested.

Hopefully a decision on our buying 100% of the Newmont divestment will be announced in the very near future or we have a new partner to see out the publication of FS/DTM so we can realise our investment in future income.

I'm here till mid 2025 as was my original investment plan but hopefully from a better s/p than todays as confidence grows.

GLTA