Greatland Gold CEO: World-class resource and ASX listing - ICYMI

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) CEO Shaun Day talked with Proactive about the company’s latest mineral resource update and its upcoming dual listing on the ASX. The update confirms 10.2 million ounces of gold and 387,000 tonnes of copper, significantly expanding the company's resource base.

Day highlighted that more than 55% of these resources fall under the measured and indicated category, allowing for future conversion to reserves. The company has also added 3.2 million ounces of gold and 117,000 tonnes of copper at the Telfer mine, strengthening its position in the market. "The size of the prize here in terms of life extension is really significant," he stated.

The CEO also discussed Greatland Gold’s upcoming ASX listing, set for June 2025, which will broaden investor access and enhance market visibility. "We believe this cross-listing will unlock new demand from Australian investors and provide indexation benefits while maintaining our London listing," Day explained.

Additionally, the company is ramping up exploration with six drill rigs in operation, aiming to further extend Telfer’s mine life and identify new mineralization zones. Upcoming milestones include the March quarterly results in April and a reserve update later in the year.

Proactive: My name is Kerry Stevenson, and I’m talking today with Shaun Day, Managing Director of Greatland Gold. One of my favorite subjects, of course, is gold, and the gold price is over $3,000. Welcome to Proactive, Shaun.

Shaun Day: Hi Kerry, thanks very much for taking the time to catch up today.

Proactive: It’s a really important milestone today for you. You’ve released a mineral resource update. Can you talk us through that?

Shaun Day: Yes, we think it’s a really significant announcement. It takes us to over 10.2 million ounces of gold, plus 387,000 tonnes of copper. More than 55% of this sits in the measured and indicated classification, meaning it can be moved into reserves in due course.

We already had 7 million ounces of gold at Havieron, plus copper, and now we’ve added 3.2 million ounces of gold at Telfer, along with 117,000 tonnes of copper. About 45% of this new resource is in the indicated and measured categories.

This update has come together in just 15 weeks since the transaction. It validates what we believed during due diligence and highlights the opportunity at Telfer. This positions us among the top five ASX-listed companies in terms of gold and copper inventory.

Proactive: Speaking of the ASX, you’re currently listed on the LSE, but there’s a cross-listing coming up, right?

Shaun Day: Yes, that’s correct. By June, we plan to undertake a cross-listing on the ASX while retaining our London listing. This will give us access to new demand from Australian investors, particularly those focused on gold and copper assets. We’ll also benefit from indexation in Australia, but we remain grateful for the support we receive in London, so we’ll maintain that secondary listing.

Proactive: You acquired Telfer in December last year, correct?

Shaun Day: Yes, we settled on Telfer on December 4. Our team has worked incredibly hard to provide this update within the March quarter, as we had promised.

Proactive: What does this mean for Telfer’s mine life extension? Initially, it seemed limited, but now it looks like exploration will be a key part of your strategy.

Shaun Day: Exactly. When we acquired Telfer, Newmont had a 15-month mine plan in place, covering 426,000 ounces of gold equivalent. That gave us a solid foundation while we worked on further drilling and resource development.

We’ve now identified 154 million tonnes of ore. To put that in perspective, the processing plant runs at about 20 million tonnes per year. So the potential for extending Telfer’s life is significant.

Additionally, we expect to bring Havieron online in late 2027 or early 2028. Previously, there were concerns about a gap in production, but we now believe we can extend Telfer’s mine life not just to cover that period, but potentially beyond it.

Proactive: That’s exciting. You recently mentioned investing in the drill bit—does that remain a priority?

Shaun Day: Absolutely. Currently, we have four drill rigs on site, and we’re bringing in two more, tripling our original drilling capacity to six rigs. As long as we can drill productively and efficiently, we’ll continue to invest in exploration.

Proactive: What are the key milestones ahead? It sounds like June will be very busy with the ASX listing, but what else should investors look out for?

Shaun Day: There are a few major milestones. First, in April, we’ll release the March quarterly results for Telfer. This will be the first real opportunity to demonstrate its cash flow generation.

Then, we’ll release a reserve update, building on this resource announcement. Additionally, we expect another exploration update in the second half of the year, as we incorporate more drilling data.