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    GGP   GB00B15XDH89

GREATLAND GOLD PLC

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Australia's Newcrest Mining gets regulatory nod for $113.5 million Havieron project

01/12/2021 | 08:43pm EDT

(Reuters) - Newcrest Mining said on Wednesday it received government regulatory nod to start construction work at its Havieron gold-copper project for which the Australian miner has approved a funding of A$146 million ($113.44 million).

Havieron, an underground project in Western Australia, is a joint venture (JV) between Newcrest and UK-based miner Greatland Gold PLC.

Newcrest said in its initial resource estimate last month that it expects to produce 3.4 million ounces of gold and 160,000 tonnes of copper over the mine's life.

It would be the second massive development in Western Australia's Paterson region after Rio Tinto's Winu find, which sparked a gold rush into the remote precinct.

Construction at the project also provides an opportunity for Newcrest to provide feed for its Telfer processing plant, RBC analysts said in a note to clients last month.

"Havieron project could add a substantial source of feed, which we could see entering the mine plan at some point in the future and extending mine life at the asset", they wrote.

Newcrest had entered the JV deal with Greatland and inked a $50 million loan agreement to fund certain early works and growth drilling activities at the project in November last year.

The miner said it expects to complete a pre-feasibility study for the project by late 2021.

($1 = 1.2870 Australian dollars)

(Reporting by Shruti Sonal in Bengaluru, Editing by Sherry Jacob-Phillips)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.32% 1768.798 Delayed Quote.-6.38%
GREATLAND GOLD PLC -1.52% 19.5 Delayed Quote.-49.05%
NEWCREST MINING LIMITED -2.95% 25.96 End-of-day quote.0.70%
All news about GREATLAND GOLD PLC
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04/28GREATLAND GOLD  : New Corporate Presentation
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04/22GREATLAND GOLD  : Kicks Off Drilling At Juri Gold-Copper JV
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04/19GREATLAND GOLD  : Scallywag Drill Results
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04/16GREATLAND GOLD  : Second Price Monitoring Extn
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Financials
Sales 2021 - - -
Net income 2021 -5,00 M -6,90 M -6,90 M
Net cash 2021 3,00 M 4,14 M 4,14 M
P/E ratio 2021 -2,65x
Yield 2021 -
Capitalization 742 M 1 024 M 1 024 M
EV / Sales 2021 -
EV / Sales 2022 605x
Nbr of Employees 8
Free-Float 94,4%
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Technical analysis trends GREATLAND GOLD PLC
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TrendsBearishBearishNeutral
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 27,03 GBX
Last Close Price 18,80 GBX
Spread / Highest target 60,1%
Spread / Average Target 43,8%
Spread / Lowest Target 33,0%
EPS Revisions
Managers and Directors
NameTitle
Shaun Day Chief Executive Officer & Director
Michael Alexander Borrelli Independent Non-Executive Chairman
Callum Newton Baxter Executive Director & Chief Technology Officer
Clive J. Latcham Independent Non-Executive Director
Luther Pendragon Head-Media & Investor Relations
Sector and Competitors
1st jan.Capitalization (M$)
GREATLAND GOLD PLC-49.05%1 024
NEWMONT CORPORATION4.56%50 263
BARRICK GOLD CORPORATION-11.07%36 765
POLYUS-5.46%26 895
WHEATON PRECIOUS METALS CORP.2.14%19 591
NEWCREST MINING LIMITED0.70%15 849