Greatland Gold remains keen on the ASX listing it postponed last year, pending progress on the potential buyback of a majority stake in the Havieron gold project from JV partner Newmont.
Greatland Gold remains keen on the ASX listing it postponed last year, pending progress on the potential buyback of a majority stake in the Havieron gold project from joint venture partner Newmont.
The Andrew Forrest-backed gold play owns 30 per cent of the undeveloped Havieron project, with Newmont acquiring its majority stake in its deal for Newcrest last year.
Greatland discovered the deposit in 2018, before selling its stake to Newcrest.
Newmont, the world’s largest goldminer, has since flagged a series of non-core assets for sale, including its share of Havieron and the Telfer mine and processing infrastructure 45 kilometres to its east.
Speaking on the side of the Diggers & Dealers Mining Forum this afternoon, Greatland managing director Shaun Day reiterated the company’s publicly stated interest in buying back Havieron.
Mr Day said the gold major was selling its assets sequentially across its divisions, but that he was confident a deal could be done given Greatland’s last right of refusal over the stake.
“As we understand it, the sequence of divestment has been Africa, North America, and now into Australia,” he said.
“What factors have influenced that; I think Newmont’s better placed to ask. But I think we’ve already stated publicly that we’re interested, and that we hold a last right of refusal.
“We think we’re strongly positioned, and we have a really good relationship with Newmont.”
Greatland had pursued an ASX listing last year but placed the plan on ice in September, setting a 2024 cross-listing date target in its November annual report.
But Mr Day was non-committal on timings around the ASX listing when quizzed on it today.
He suggested a dual listing was contingent on a deal being done for Havieron.
“What we probably want to do is understand the landscape, and then I think [ASX listing] would be a secondary process,” he said.
“But we certainly are interested in ASX, with London.”
Mr Day was bullish on the development potential of Havieron, which has an 8.4-million-ounce resource. Existing plans involve treating ore from Havieron at Telfer’s plant.
“It can be developed as a standalone asset or can be integrated into a Telfer,” he said.
“What’s brilliant is to have optionality. We think there’s pathways to successfully develop Havieron, either standalone as part of the integrated Telfer.”
The company’s management team includes a number of staff from the early days of Northern Star Resources, and an all-star board including Fortescue-linked chair Mark Barnaba and deputy chair Elizabeth Gaines, as well as former BHP executive Jimmy Wilson.
“I think we have a board that’s one of the strongest in Australia,” Mr Day said.
“We believe that governance aspect is a competitive advantage for us.”
