Greatland Gold plc (AIM:GGP) (Greatland or the Company) refers to an article published in the Australian Financial Review today titled "Greatland Gold raising [A]$500m to buy Newmont's Telfer" (Media Article).
"Greatland confirms that it is in advanced negotiations with Newmont in respect of the Potential Acquisition, which remain incomplete, Greatland and Newmont have entered into a binding exclusivity agreement which provides for a period of exclusivity to finalise and enter into binding transaction documentation in respect of the Potential Acquisition. The proposed terms of the Potential Acquisition remain confidential, however Greatland notes that the proposed consideration includes a mix of upfront cash, deferred payments and equity. Settlement of the Potential Acquisition is proposed to be conditional on completion by Newmont of ongoing remediation works in respect of the Telfer tailings storage facility.
The Potential Acquisition remains subject to, among other matters, the agreement of binding documentation and corporate approvals. There is no certainty that the Potential Acquisition or any other transaction will proceed at all (or the terms of any such transaction if it does proceed).
Full document:
https://polaris.brighterir.com/public/greatland_gold/news/rns/story/x4j6kox
Greatland News Release 9th September
Greatland Gold/Newmont Sale discussions, page-2
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