Thursday, April 15, 2021
Gold Mining News Hub
  • Home
  • Gold News
  • Gold Mining
  • industry
  • companies
  • price
  • Gold & Silver
  • Diamonds
Gold Mining News Hub
No Result
View All Result
Home Gold News

Spotlight brightens on Greatland Gold’s Paterson opportunity as Rio unveils new

July 28, 2020
in Gold News
2 min read
Spotlight brightens on Greatland Gold’s Paterson opportunity as Rio unveils new
Share on FacebookShare on Twitter


Rio Tinto’s mine development plans for the Winu deposit in the Paterson region of Australia brightens the spotlight on Greatland Gold which alongside Newcrest is pursuing its own exciting mine project.

There is nothing quite like a mining major’s move to put the spotlight on small-cap opportunity.

Indeed, a particular cohort of investors – those backing () – will this morning have quickly seen the relevance of Rio Tinto’s unveiling of the Winu deposit as a new mine development project in Western Australia’s Paterson region.

Rio on Tuesday reported a maiden resource for the Winu discovery defining 503mln tonnes of inferred resources at a grade of 0.45% copper equivalent, and, setting the project on the path towards development.

Anglo-Aussie miner sees Winu as a shallow open-pit operation and said it is aiming for first production in 2023. Moreover, it also revealed that a new gold deposit had also been unearthed and, highlighted the potential for multiple orebodies to be accessed within one project.

READ: Rio Tinto set for new copper mine in WA’s Paterson region

A significant piece of subtext is the fact that Rio, among the world’s largest mining companies, deemed this project milestone to be sufficiently newsworthy to put out a statement – such early-stage project updates feel almost out of place from a company like Rio Tinto.

Perhaps it particularly underlines the industry focus on the Paterson region which is host to an increasing number of substantial projects.

Greatland’s part-owned Havieron is among those substantial projects.

Havieron is led by Australian mining major Newcrest which kicked off a pivotal drill campaign last year. Nine rigs are turning at the project.

The results to date have confirmed significant high-grade gold-copper mineralisation and moved the project towards a maiden resource in the second half of 2020, and, ideally, development phases.

The Havieron site is located around 45 kilometres from Newcrest’s Telfer gold-copper mine which produced 452,000 ounces of gold and 15,000 tonnes of copper in the full year of 2019.

It is envisaged that Havieron’s high-grade ore could be fed into Telfer’s 20 million tonnes per annum mill, to supplement the declining Telfer operation by extending its life and substantially lowering its production costs per ounce.

So far, Newcrest has undertaken 71 kilometres of drilling at the project and is currently undertaking a number of studies with the aim of rapidly accelerating to production in two to three years.

Research house Hannam & Partners in May set a substantial valuation for the project.

Hannam set a value of Havieron at a preliminary US$1.67bn, and estimates that Greatland’s share of the development costs is likely to amount to US$33.9mln.

It leads to Hannam & Partners price target of 12.9p, which implies some 47% upside from the current share price.

“Whilst at this stage there is no JORC resource at Havieron” says Hannam,…



Read More: Spotlight brightens on Greatland Gold’s Paterson opportunity as Rio unveils new

Tags: brightensGoldsGreatlandOpportunityPatersonRioSpotlightunveils
Previous Post

B2Gold Announces the Launch of its Namibian Rhino Gold Bar Campaign in North

Next Post

Mike Novogratz says gold and bitcoin will both surge higher as long as the

Related Posts

Vaccine pause threatens to worsen ‘hesitancy’ problem

Vaccine pause threatens to worsen ‘hesitancy’ problem

by Gold Mining News
April 15, 2021
0

Compounding the challenge, the Johnson & Johnson vaccine has been central to Biden officials’ strategy for inoculating skeptical and...

Tanzania’s new president comes out as firmly pro-business, and highlights

Tanzania’s new president comes out as firmly pro-business, and highlights

by Gold Mining News
April 15, 2021
0

It’s barely been a month since Samia Suluhu Hassan took office as the new President of Tanzania, but already...

Triumph Gold Provides Update on Exploration Activities Related to the Freegold

Triumph Gold Provides Update on Exploration Activities Related to the Freegold

by Gold Mining News
April 14, 2021
0

VANCOUVER, British Columbia, April 14, 2021 (GLOBE NEWSWIRE) -- Triumph Gold Corp. (TSX-V: TIG | OTCMKTS: TIGCF) (“Triumph Gold”...

IronRidge Resources finds highest grade lithium so far at Ghana project

IronRidge Resources finds highest grade lithium so far at Ghana project

by Gold Mining News
April 14, 2021
0

"We are very pleased with the ongoing results received, which have confirmed high grades and mineralisation continuity," said chief...

Gold futures end higher after posting back-to-back declines

Gold futures end higher after posting back-to-back declines

by Gold Mining News
April 13, 2021
0

Gold futures ended higher on Tuesday for the first time in three sessions, as the U.S. consumer price index...

0 0 vote
Article Rating
Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Today Gold News

Gold Price Prediction – Prices Rise and Finish the Week up 0.66%

Gold Price Prediction – Prices Rise and Finish the Week up 0.66%

July 19, 2020
Gold Price 6 July: Gold Price Drops to Rs 48,072 Per 10 Gram

Gold Price 6 July: Gold Price Drops to Rs 48,072 Per 10 Gram

July 6, 2020
Gold tallies first gain in 3 sessions as coronavirus infections extend rise

Gold tallies first gain in 3 sessions as coronavirus infections extend rise

July 13, 2020
Triple Flag Provides Q2 2020 Update

Triple Flag Provides Q2 2020 Update

July 10, 2020
Still profits to be made from investing in gold

Still profits to be made from investing in gold

July 11, 2020

Gold News

Vaccine pause threatens to worsen ‘hesitancy’ problem
Gold News

Vaccine pause threatens to worsen ‘hesitancy’ problem

April 15, 2021
Tanzania’s new president comes out as firmly pro-business, and highlights
Gold News

Tanzania’s new president comes out as firmly pro-business, and highlights

April 15, 2021
Triumph Gold Provides Update on Exploration Activities Related to the Freegold
Gold News

Triumph Gold Provides Update on Exploration Activities Related to the Freegold

April 14, 2021
IronRidge Resources finds highest grade lithium so far at Ghana project
Gold News

IronRidge Resources finds highest grade lithium so far at Ghana project

April 14, 2021
Gold futures end higher after posting back-to-back declines
Gold News

Gold futures end higher after posting back-to-back declines

April 13, 2021
Vast Resources hires experienced processing manager for Baita Plai
Gold News

Vast Resources hires experienced processing manager for Baita Plai

April 13, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • CCPA
  • DMCA

© 2020 Goldminingnewshubb.com

No Result
View All Result
  • Home
  • Gold News
  • Gold Mining
  • industry
  • companies
  • price
  • Gold & Silver
  • Diamonds

© 2020 Goldminingnewshubb.com

wpDiscuz