Background on the JV ... Newmont decided to proceed to 70% back...

Background on the JV ...

Newmont decided to proceed to 70% back in July 2018:

https://www.asx.com.au/asxpdf/20180730/pdf/43wvtq4bp5htl6.pdf

JV initiated in September 2005. NVA were previously Quantum Resources ( QUR ).

https://www.asx.com.au/asxpdf/20050922/pdf/3sf9whjczlb6t.pdf

Has been essentially a dormat project. Newmont essentially waiting to finish their Tanami Expansion project before switching back to brownfield exploration.

https://dpir.nt.gov.au/news/2017/october/mine-expansion-will-increase-production



Newmont will be keen to expand resource/reserves in the area so they can improve economies of scale by leveraging existing processing facilities.

If new ore sorting technologies are used it becomes even more economical to truck pre-sorted ore 40-50km for processing.

https://www.tomra.com/en/sorting/mining/segments/non-ferrous-metal-sorting/gold

See EGA trials of this kind of gear:

https://www.asx.com.au/asxpdf/20180503/pdf/43trh56p5w21kc.pdf

I’ve actually been to the Tomra Facility at Castle Hill in Sydney and seen the gear in operation at a  demonstration. Video from that demo ( which was in May 2018 ):