takeover next door, page-3

Newcrest had a pretty rapid entry and exit from the Tanami. In 2018 announced JV's with and ENR and PRX and several 100% NCM applications. The applications were put into veto by the Land Council and Newcrest exited the Tanami shortly after.

Newmont has been heavily investing in exploration and mine infrastructure with over A$1B put in or in progress. One Australia's best unpublicised mines. 1.589Mt @ 6.46g/t with 129,000oz produced last quarter at $A1589/z cost. It is only 88km from Tanami Gold to the Newmont Mill and the government has pledge to seal the road. Half of a quarters cash out of of the Newmont mine would buy NST's share and see the tonnes go through an expanded Newmont mill.

100km haul x 9 years (retracted by TAM) at 1.5Mtpa (retracted by TAM) x $0.1/tkm (retracted by TAM) = $135M over life of mine compared to new capital (retracted by TAM) $83.73M for mill, 2.0M for workshop, $13M for tailings dam establishment. Add to that processing cost saving for a bigger mill ta Newmont and deferring the capital and permitting. I know which option I would prefer.