Ann: Investor Presentation - Nova Positioned for Growth, page-42

Quite an interesting read.

https://www.miningnewsnorth.com/story/2019/01/01/news/making-the-worlds-largest-gold-miner/5572.html

“Newmont produced roughly 5 million oz of gold in 2018 and Goldcorp produced around 2.3 million oz of the precious metal.

The colossal gold mining company, however, plans to shed some of its current assets.

Prioritizing project development by returns and risk, Newmont Goldcorp is targeting US$1 billion to US$1.5 billion in divestitures over the next two years.

As a result, the company anticipates it will be able to steadily churn out 6 to 7 million oz of gold annually over a decades-long time horizon.”

Putting Estelle’s Oxide initial exploration target into perspective ( 2.2Moz to 5.3Moz ), an asset of that size could comfortably produce 100koz to 200koz+ pa. Mines also usually expand their resources over time so that reserves are replaced at a fast enough rate to keep extending mine life.

Now Estelle is very prospective based on historic drilling and exploration for multiple bulk-mineable deposits. Let’s assume 2 other resources of this size are found. That’s another 200koz to 400koz pa, or in total 300koz to 600koz pa.

That’s approaching the equivalent of 10% of the Newmont-Goldcorp annual production. So Estelle potentially a very big asset in its own right.

It starts to get interesting for big miners because multiple co-located deposits, start to introduce economies of scale for production. Something of big interest to majors such as for future M&A.