AZY General Discussion, page-89

Hi Cate,

Most of the possible scenarios I'm running in terms of what or can happen in the area all include AZY.

I'm looking at the whole province like a cake without icing, with AZY it has icing and makes all the difference.

When i say that i'm not strictly talking about a takeover....in more general terms we have to be involved in someway.

Havieron is a great asset, but is limited at around 3Mtpa, not enough to justify buying Telfer/Havieron for anyone, unless you have optionality.

If someone does buy Telfer plus 70% Havieron, they still need exploration upside tenure and alot more ore............and remember if Greatland Gold don't get to buy it, and they don't like who does, Hmmmmm they still have the option of sending their 30% to somewhere else...Guess where?

So so so many options, and don't rule out Rio, as i posted there were changes of note in there annual report, about partnerships and mass transportation.

And other listed ASX producers tying up with Greatland, IGO a real contender, and Greatland does have a letter of support for $220m from banks and a $50m standby from Wyloo that needs to be used by Dec 2024


In the end of the day, big players like to own and control the whole belt/province, when making an acquisition like this, the bean counters need to see life of mine stack up.


Would like to type up all the possible scenarios , but it would take up too much space here, but do suggest everybody put on their thinking caps, as the pointy end is near.

Just to be clear in this case, Greatland Golds 30% stake is only worth roughly in my calcs (at 3 Mtpa at say 2.5gt Au Eq ) about 75,000 oz per annum, and they are capped at $750m. They are looking at doing something, the need to do something and this change of ownership really does put a noose around there neck in a lot of respects.

AZY adds a lot of icing to all the scenarios, however you slice and dice the cake. Our Market is ridiculous low, but does not mean it will be realised just yet.

This twist in my book is not a negative at all for AZY, it brings forward a lot of possibilities to happen quickly, however we still might not see the true potential of AZY as a lot of us were hoping for, however as we stand today i only see a very large and real potential capital gain from this low.

How current and new investors see and take advantage of that is purely up to the individual and how they see this playing out.