Greatland Gold PLC (AIM:GGP, OTC:GRLGF) shares bounced 10% after an update on the agreed takeover of its joint venture partner in the Havieron project, Newcrest Mining.
Suitor Newmont Corporation today confirmed in a scheme of arrangement circular that a shareholder meeting will take place in Melbourne on 13 October to vote on the proposed deal.
Assuming that Newmont's acquisition completes as expected in November 2023, Greatland said it “looks forward to the opportunity to work constructively with Newmont to optimise the development of Havieron, finalise the feasibility study and progress to a decision to mine.”
A feasibility study for Havieron, in which Greatland owns 30% of the joint venture, is ongoing, it added, with value enhancing options being assessed to maximise value and de-risk the project.