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NEWGENGOLD REVIEW

NewGenGold: The greatest hits

by Dominic Piper

t was fitting that Newcrest Mining Ltd’s $2.8 billion for TSX- “We believe that as the owner and operator of Brucejack we
Ilisted Pretium Resources Inc came on the opening day of can build on the strong foundations established by Pretium and
NewGenGold 2021 given the conference’s track record for deliver significant additional shareholder value by leveraging our
featuring previously unheralded discoveries which later change experience in operating epithermal gold mines and applying our
hands for huge premiums. exploration and innovation expertise to realise potential resource
Pretium featured on the NewGenGold programme as far back and reserve growth.”
as 2013, detailing its discovery of the Brucejack project in the Pretium chief executive Jacques Perron said the Newcrest
Golden Triangle, British Columbia. The company has since deal represented an “outstanding opportunity for shareholders,
built Brucejack into a 7.2 moz resource/3.9 moz reserve project employees, First Nations partners and the local communities”.
capable of producing more than 300,000 ozpa. “Newcrest has the financial means and the intention of maximising
Newcrest will pay $C18.50/share or 0.8084 Newcrest shares the long-term potential of the Brucejack mine and the district-
for Pretium, a 22.5% premium to the Canadian company’s last scale opportunities surrounding the Brucejack property,” he said.
closing price. Newcrest’s bid for Pretium is the latest in a long line of corporate
Newcrest managing director Sandeep Biswas said the company deals for projects featured on the NewGenGold programme.
was delighted to put a marker down in a highly prospective region. Among the featured stories from 2021, Apollo Consolidated Ltd
“Brucejack is a Tier 1 mine in a Tier 1 jurisdiction and will deliver and its Lake Rebecca project – 150km east of Kalgoorlie – is
immediate production, free cash flow and earnings diversification currently subject to a takeover bid by Ramelius Resources Ltd.
to Newcrest and will fit seamlessly into our long life, low-cost The cash-and-scrip bid values Apollo at $181 million, Ramelius
portfolio,” he said. having lifted its initial offer by $60 million after Gold Road
Resources Ltd launched its own proposal for Apollo.

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