Greatland Gold cheers ‘tremendous success’ in first quarter
Published: 17:48 14 Apr 2025 AEST
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) managing director Shaun Day has cheered the ‘tremendous success’ of the firm’s first quarter as the 100% owner of the Telfer and Havieron mines.
In today’s quarterly activities report, the miner said it had produced 90,172 ounces of gold and 3,511 tonnes of copper in the three months to the end of March – its ‘all-in sustaining cost’ was A$2,126 per ounce of gold.
This resulted in free cash flow of A$253 million for the quarter.
"Closing cash of A$398 million and no debt establishes a very robust balance sheet and importantly allows us to invest significantly in organic growth and extension at Telfer,” Day said in the statement.
He added: "Our confidence in the outlook for Telfer is demonstrated by the approval of investments in a new mining area at the West Dome Open Pit, a second development drive to the new West Dome Underground project and an increase to six drill rigs at Telfer."
It sold 89,125 ounces of gold and 3,705 tonnes of copper at average realised prices of A$4,585 per ounce and A$13,140 per tonne respectively – with total revenue of A$458 million for the quarter.
Looking ahead, Greatland expects to produce between 196,000 and 210,000 ounces for the year, at an AISC in the range of A$2,100 to A$2,250 per ounce.
Notably, the company last week announced plans to restructure and added that a listing in Australia is planned for June.
