There's a lot of factors at play. First of all, whoever buys...

There's a lot of factors at play. First of all, whoever buys Telfer off Newmont, also inherits 70% of Havieron. At the moment from what I've gathered, work on the decline at Havieron has come to a halt due to excess water from the lower aquifer. I think they're aiming for re-commencement in Q3 of this calendar year.

It's becoming apparent, that Telfer will run out of ore before Havieron comes online. If this is the case, large layoffs can be expected at Telfer. And realistically, there's no way we're going to see 3Mtpa from Havieron for some years to come.

One scenario people haven't talked about is the possibility of Antipa making a discovery on the scale of Havieron. If this eventuates, it completely turns everything on it's head. This scenario could have AZY looking to buy Telfer, highly unlikely, but not impossible.