TIDMGGP
RNS Number : 2526P
Greatland Gold PLC
08 June 2020
8 June 2020
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR)
Greatland Gold plc
( " Greatland " or "the Company " )
Series of agreements to facilitate Mining Lease application at
Havieron
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, is pleased to announce that a
series of agreements has been executed in relation to the Havieron
project variously between Newcrest Operations Limited ("Newcrest"),
Western Desert Lands Aboriginal Corporation (Jamukurnu-Yapalikunu),
the Prescribed Body Corporate for the Martu People of the Central
Western Desert region in Western Australia ("WDLAC"), Greatland
Gold plc ("Greatland") and Greatland Pty Ltd ("GPL"). The key
aspects of the agreements are summarised in the Highlights section
below.
Highlights of Agreements
Indigenous Land Use Agreement
-- Newcrest and WDLAC are parties to an Indigenous Land Use
Agreement ("ILUA") which relates to the use of native title land
across Newcrest's current operations at Telfer and its activities
within a 60 kilometre radius around Telfer, which includes its
exploration activities at Havieron. The parties have agreed that
the ILUA will apply to any future development activities of the
Joint Venture Participants (Newcrest and Greatland ) at
Havieron.
-- The ILUA establishes a comprehensive framework between WDLAC,
acting on behalf of the Martu People, and the Joint Venture
Participants (Newcrest and Greatland), in regards to any future
development activities at Havieron, including mine construction and
mine operation.
Tenement Management and Re-Transfer Agreements
-- In order to lodge an application for a Mining Lease covering
the Joint Venture Area ("JV Area") at Havieron, a 12 block area
within E45/4701 in which Newcrest has a 40% beneficial interest
(see announcement dated 1 April 2020), Greatland will transfer a
40% legal interest in the registered title to E45/4701 to
Newcrest.
-- There is no change in the current respective beneficial
interests of Newcrest or Greatland in regard to the JV Area (40%
Newcrest, 60% Greatland).
-- There is no change in Greatland's beneficial interest in
regard to the remainder of E45/4701. Greatland retains a 100%
beneficial interest in the Non-JV Area, which includes the
Scallywag prospect area, and has full access to that area to
conduct further exploration work, subject to cultural heritage
clearances.
-- Once the transfer of the legal interest in the registered
title to E45/4701 is registered by the Western Australian
Department of Mines, Industry Regulation and Safety ("DMIRS"), the
Joint Venture Participants will apply for a Mining Lease in respect
of the JV area.
-- Following the grant of the Mining Lease at Havieron, Newcrest
will transfer its legal interest in the registered title to the
Exploration Licence (being that part of E45/7401 not the subject of
the Mining Lease application) to Greatland such that Greatland will
re-establish a 100% legal interest in the registered title to
E45/4701. No change in beneficial interest will occur at this point
with both parties maintaining their respective share in the Joint
Venture and Greatland retaining a 100% beneficial interest in the
remainder of E45/4701.
Gervaise Heddle, Chief Executive Officer of Greatland Gold plc,
commented: "The agreements announced today represent another
important step forward for the Havieron project and will assist in
the process for a Mining Lease application, which is expected to be
lodged within the next couple of months.
"Greatland looks forward to further strengthening its
relationship with WDLAC and the Martu People of the Central Western
Desert region, both as a Joint Venture participant and through our
own exploration activities in the Paterson region."
Background to Havieron and Farm-in Agreement with Newcrest
In March 2019, Greatland entered into a Farm-in Agreement with
Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest
Mining Limited (ASX:NCM), to explore and develop Greatland's
Havieron gold-copper discovery in the Paterson region of Western
Australia. Newcrest has the right to earn up to a 70% interest in a
12-block area within E45/4701 that covers the Havieron target by
spending up to US$65m. Newcrest may acquire an additional 5%
interest at the end of the Farm-in period at fair market value.
Newcrest has completed Stage 2 of the Farm-in Agreement. In
accordance with the terms of the Agreement, Newcrest has earned a
40% Farm-in Interest in the Havieron Project. In order to complete
Stage 3 of the Farm-in, Newcrest must incur an additional US$25
million in expenditure and deliver a Pre-Feasibility study for the
Havieron Project. If Newcrest successfully completes Stage 3,
Newcrest will earn an additional 20% Farm-in Interest (cumulative
60% Farm-in interest).
During the Farm-In period, Newcrest will have a first right of
refusal over the remainder of Greatland Gold's Paterson projects
(Black Hills, Paterson Range East and remainder of the Havieron
licence). The Farm-in Agreement includes tolling principles
reflecting the intention of the parties that, subject to a
successful exploration program and feasibility study, the resulting
joint venture ore will be processed at Telfer, located 45km west of
Havieron.
A regional map showing the Havieron licence area with regional
targets and adjacent landholdings can be found at:
www.greatlandgold.com/paterson
Enquiries:
Greatland Gold PLC
Gervaise Heddle/ Callum Baxter
Tel : +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Andrew Emmott/ James Keeshan
Tel : +44 (0)20 3368 3550
SI Capital Limited (Joint Broker)
Nick Emerson/Alan Gunn
Tel: +44 (0)14 8341 3500
Numis Securities Limited (Joint Broker)
John Prior/Paul Gillam/Alamgir Ahmed
Tel: +44 (0)20 7260 1000
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore/Joe Quinlan
Tel: +44 (0)20 7618 9100
Notes for Editors:
Greatland Gold plc is a London Stock Exchange AIM-listed
(AIM:GGP) natural resource exploration and development company with
a current focus on precious and base metals. The Company has six
main projects; four situated in Western Australia and two in
Tasmania.
In March 2019, Greatland signed a Farm-in Agreement with
Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest
Mining Limited (ASX:NCM), to explore and develop Greatland's
Havieron gold-copper deposit in the Paterson region of Western
Australia. Newcrest has the right to earn up to a 70% interest in a
12-block area within E45/4701 that covers the Havieron target by
spending up to US$65 million.
Greatland is seeking to identify large mineral deposits in areas
that have not been subject to extensive exploration previously. It
is widely recognised that the next generation of large deposits
will come from such under-explored areas and Greatland is applying
advanced exploration techniques to investigate a number of
carefully selected targets within its focused licence
portfolio.
The Company is also actively investigating a range of new
opportunities in precious and strategic metals and will update the
market on new opportunities as and when appropriate.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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