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Greatland Gold is contemplating reclaiming full ownership of the Havieron gold/copper project in Western Australia, should Newmont divest of its 70% stake, says MD Shaun Day.

The US-based gold major in February announced that it was considering selling its interests in Havieron and Telfer, which were inherited through its acquisition of Newcrest last year.

Currently, plans involve the processing of ore from Havieron at Telfer, pending a favourable feasibility study, decision to mine, and the execution of a toll processing agreement.

Day says the company believes there is significant option value in acquiring full ownership of the deposit that Greatland discovered in 2018.

In terms of a joint venture agreement, Greatland holds a right of last refusal in respect of any sale by Newmont.

“If an opportunity to consolidate ownership of Havieron were to arise we would be highly focused on delivering an accretive outcome for our existing shareholders with a view to delivering a world-class Australian gold copper asset,” says Day.