Greatland hails 'transformative year' as it eyes further expansion

Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) described the past financial year as transformative, its first 12 months owning the Telfer gold and copper mine, as it prepares for an ambitious programme of investment and expansion. The dual-listed miner, which bought Telfer in Western Australia's Paterson province from Newmont in December 2024, took a final investment decision in June on Havieron, the neighbouring gold-copper deposit it intends to feed through the existing Telfer mill. Construction spending on that project begins in earnest this year. Guidance points to growth capital of A$365 million to A$435 million at Havieron and A$315 million to A$335 million at Telfer, plus A$70 million to A$80 million on resource development and exploration. First gold from Havieron is not expected until the 2029 financial year. The company reiterated guidance of 260,000 to 300,000 ounces of gold this year, down from 328,987 ounces produced in the year just ended. All-in sustaining costs, a measure that captures the full cost of getting metal out of the ground, are guided at A$2,900 to A$3,330 an ounce, a sharp increase on the A$2,179 an ounce achieved last year. Output will be weighted towards the second half because of open pit scheduling and a 15-day planned plant shutdown already completed in the first quarter. Shaun Day, managing director, said the investments made this year would set the foundations for a period of production growth from a higher quality, longer life productio...