GGPChat

In this time of News blackout you (well I) do get to thinking what is happening and this is my thoughts as of this morning.

Firstly a decision to sell to Greatland, Newmont have already placed the asset in a class as assets held for sale.

In order to buy these assets we need as I see it to complete the following tasks.
We need to complete due diligence on ALL the assets under the agreement.
Part of this will be the contractual arrangements for both the Assets and the Directly employed staff and any ongoing subcontracts on the assets. There may be ROFR or ROLR on any JV’s included to be sorted. (New subcontracts may need to be put in place to satisfy lenders.)

This will then allow us to sort out the finance and I would think Lenders would want to know ALL our plans.
We will need a new MRE’s for Telfer and Havieron, and I suspect they would need to be clarity on the timing of the FS and the decision to mine, all of which having been needed to get this far in the process and announcements will follow in quick succession if we are successful. The FS has had so many revisions it must be complete apart from a final review unless the purchase adds or amends it but hopefully it only needs the approval of whoever releases it, and it provides a direct line to the Decision to mine, which hopefully should not be delayed as within any deal the Newcrest Loan should be sorted.

From what has been said the BOD would like to use Debt to finance the project.

It could be we need to bridge a gap between Purchase and the cost/expenses until we have Free Cash.

This could come from one or more of multiple sources
a JV partner,
Equity Raise, at the same time as the ASX listing
Newmont may take an Equity interest in GGP or extend a loan as part of the sales agreement
Another investor may take an equity stake

If the information that the Telfer Mine and the mill would be sold as an item is still the case, then the liabilities on the Telfer mine after it has ended its life are significant, returning the mine back to nature is a considerable undertaking. There are many strands to this next phase we are all waiting for.


I have thought for quite a while that Twiggy is creating Australia's next No1 Gold producer via Greatland, but then watching SD recently at Diggers had me thinking that if Twiggy intends to take Greatland to the next step with his money and acquisitions, Why does Greatland have to present at Diggers, Surely if the deal of whatever proportions is done, Why go promoting GGP ? Bit of an ambiguity for me.

Hi Ivan - I think presenting at Diggers is prestigious enough in itself to get Shaun mixing with his peers and promoting GGP as wide and as regularly as possible can never be a bad thing.

Redirons wrote: ↑Mon Aug 12, 2024 9:41 pm Hi Ivan - I think presenting at Diggers is prestigious enough in itself to get Shaun mixing with his peers and promoting GGP as wide and as regularly as possible can never be a bad thing.

On the whole I am super confident for the future of the company, the timescale is starting to rub a little for me now. Mines don't get built overnight, and I never expected to end up where we are now. It seems to have taken a long time. In reality in mining terms I know it hasn't, and the workrate has been very high. Doesn't help me with the drag though..........

I agree regarding your view of Greatland at Diggers, the ambiguity I have I will pop back in its box.

Everyone is at diggers
It’s an Oz mining institution.
Would be remiss not to be present, given the journey so far… but remember- we are still newborns in Australia.

Most of oz retail have barely heard of Greatland…
Funds know of us, of course - a few made a mint a few years back - but principally their knowledge is via Newcrest and their “bent” reports.

That’s why it’s critical that Day beats the drum. Louder and slowly louder.