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00:00[CC may contain inaccuracies] It is a script and the offer at the moment point three eighths of a share. A new month for every new. As you mentioned, we did get this market release a moment ago. Brief. It is one page, just six lines here. It does describe the offered as indicative, non-binding and subject to a number of conditions as well. A lot of those conditions are very much what you would expect, shareholder approval, regulatory approval, including the Foreign Investment Review Board here in Australia. But Newmont is a big player, the biggest player in the North American gold scene with about 57 billion dollars, North America's largest gold mine. It has attempted to acquire Newmont before that earlier offer was pushed back. But this one appears to be being entertained for the time being, at least by the board. It has retained a JP Morgan legal advisers as well to look into this. And I said for our shareholders need not do anything. While this is examined, Newcrest, as of Friday's close, had a market cap of about 20 billion dollars. So it's definitely going to be worth watching this at the open. This is kind of a dream deal for a lot of these big, big global players in terms of looking at Newcrest. All very much so. And this was looked at back in 2018 when a lot of acquisition that came and it was going on in the gold space. Newmont Barrick Agni Co, a Canadian miner, all had a look at Newcrest at the time and none of them have an ASX listing. This deal would have given any of them, but now it looks like Newmont access to a number of very impressive Australian assets. The ISIS listing, as well as the Leahy mine and Papua New Guinea, a very productive asset that's expected to produce about two million ounces in the coming financial year. And also the Newcrest board and the new more board are well known to each other. Although the Newcrest leadership isn't a bit of a state of flux right now, after Sandy boss left CFO, he'd do hey has been the interim CEO, but it's understood there's a bit of disagreement as to whether or not she will continue in that role or whether there will be an external applicant. So a lot of change and uncertainty at Newcrest at the moment. And as I mentioned, we'll be keeping a close eye on that stuff when we get going.

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Australian Gold Miner Newcrest Gets Takeover Offer From US's Newmont

Australia’s biggest gold miner Newcrest Mining Ltd. says it has received an indicative takeover proposal from Denver-based Newmont Corp. Newcrest says its board is considering the proposal. Paul Allen reports on Bloomberg Television. (Source: Bloomberg)

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