Greatland Gold plc has provided an update on the progress of the acquisition of its joint venture partner, Newcrest Mining Limited, by Newmont Corporation. The acquisition is expected to be completed in November 2023. Greatland's joint venture partner, Newcrest, has released a scheme of arrangement circular convening a meeting of its shareholders on October 13, 2023, to vote on the proposed takeover. The circular includes an independent assessment by Grant Samuel & Associates Pty Ltd on whether the transaction is in the best interests of Newcrest shareholders. The assessment includes a valuation for each material project in the Newcrest portfolio, including the Havieron project, which is held in joint venture between Greatland and Newcrest. However, the valuation does not separately value Havieron but aggregates it with Newcrest's interest in Telfer. The assessment is based on Newcrest's August 2022 Mineral Resource Estimate update for Havieron, which only incorporated drilling results up to November 2021. The feasibility study for Havieron is ongoing, and Greatland is working to maximize value and de-risk the project. Assuming the acquisition is completed as expected, Greatland looks forward to working with Newmont to optimize the development of Havieron and progress to a decision to mine.