There is going to be huge consolidation in the Paterson now with lots of M & A. I think London listed Greatland Gold will aquire the 70% of Havieron they do not already own and Telfer. Taking on decommisioning costs of around $200 million will offset buying of Telfer.They will also take over Antipa and some minnows like Paterson Resources. They will become a mid Tier miner with 10 million Oz plus of gold resources and a ready made processing plant. They have a $200 million loan faciilty in place and rest of the funding will come from Fortesque Metals subsiduary Wyloo who already have a stake in Greatland. Wyloo and Andrew Forest are involved because they want green ESG friendly copper on their books. Havieron will be a new mine, underground so limited environmental impact and with a plant nearby at Telfer ready to go. As a geologist, its pretty easy to see Havieron becoming a 20 million Oz plus Au equivalent deposit with about 25% of that being from copper. Greatland list on the ASX H2 2024.
The bottom line for Antipa share holders is to keep an eye on Greatland. A big share holder meeting coming up on March 5th.
GW
AZY Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
(20min delay)