Companion Greatland Gold (LON: GGP), which holds a 30% curiosity within the venture, sought to “clarify” the replace by stating that Newcrest’s announcement quoted figures beforehand launched.
The corporate famous the information used corresponded to the Stage 1 South East Crescent prefeasibility examine (PFS), which doesn’t embody the latest drilling outcomes, which got here in after the PFS cut-off of February 2021.
“Within the roughly 11 months since this drilling closing date, the Havieron JV and the corporate has constantly introduced wonderful drill outcomes,” Greatland said. The miner added the newest drilling outcomes had been “excellent” and would enable a “significant slice” of the inferred useful resource to be upgraded to indicated.
Shares in Greatland Gold fell on the information and had been final buying and selling virtually 2.7% decrease at 13.43 pence every in London.
The PFS for Havieron returned capital prices of A$529 million ($381m) for a 2 million tonne every year operation to provide 160,000 gold ounces and 6,900 tonnes of copper at a mean all-in sustaining price of $643 per ounce, valuing the venture at $228 million.
“During the last yr our perception has strengthened that the PFS solely revealed the tip of the iceberg for Havieron’s potential,” chief government Shaun Day mentioned within the assertion
A full feasibility examine for the venture, positioned within the Paterson area of Western Australia, is scheduled to be accomplished in late 2022.
