Ann: Ceasing Participation in Sales Process, page-14

Overview
Havieron is a high-grade gold-copper project centered on a deep magnetic anomaly located within Mining Lease M45/1287 in the Paterson Province of Western Australia, approximately 485km southeast of the town of Port Hedland and 45km east of Telfer.
Havieron was discovered by Greatland in 2018 and is currently being advanced under an unincorporated joint venture between Greatland Pty Ltd (30%), a wholly-owned subsidiary of Greatland, and Newcrest Operations Limited (70%), a wholly-owned subsidiary of Newcrest Mining Limited (Newcrest; ASX:NCM), pursuant to the Havieron Joint Venture Agreement which the parties entered into on 29 November 2020. Newcrest Operations is currently the manager of the Havieron Joint Venture.
Havieron is located approximately 45km east of Newcrest’s Telfer gold-copper mine. This allows the project to potentially leverage Telfer’s existing infrastructure and processing plant, subject to a positive Havieron Feasibility Study and Decision to Mine, and a toll processing agreement being signed by the Havieron Joint Venture participants in respect of toll processing of Havieron ore at Telfer.
A Havieron Feasbility Study is required before a Decision to Mine can be made. The Havieron Feasibility Study was previously expected to be completed by the end of 2022, but was extended to allow further time to optimise the project.
Various workstreams to support the Havieron Feasibility Study, including geotechnical and hydrogeological data collection and modelling, ore characterisation testwork, process plant design, mining trade-off studies (including refrigeration, ventilation, material movement, and paste fill design) and infrastructure assessments (including power, haulage, water and tailings) are continuing to be progressed with several value enhancing options underway to maximise value and de-risk the project.