Hi Scalper
I took another look at the 28 Feb 2020 announcement of the AZY/NCM farm-in / JV announcement. it says the agmt signed with Newcrest Operations Ltd a 100% owned subsidiary of NCM - see the footnote. That doesn't sound like the name of a company holding solely Telfer/Havieron/AZY assets only and not other company assets but I have no idea. NEM's deal was for all of NCM so different. so we have no idea whether it's part of a holding company which they can sell all of.
And we don't know what's in the agmt re change of ownership.
the last presentation said they had spent $9m so far. so another $7m to get to $16 for 51% interest. This is Stage 1 Earn in (tho it is the second stage because the first stage was called Initial Commitment.
I guess we wait and see how it plays out.
AZY General Discussion, page-100
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