Greatland Gold says drilling at Havieron confirms world class potential

Greatland Gold PLC is a mining development and exploration company focused primarily on precious and base metals.

The company's flagship asset is the world-class Havieron gold-copper project in the Paterson Province of Western Australia, discovered by Greatland and presently under development in joint venture with world gold major, Newmont Corporation.

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) recently provided an updated reserve and development outlook for the Telfer gold-copper mine in Western Australia.

The company said the reserve now stands at 712,000 ounces of gold and 23,000 tonnes of copper. This complements a previously announced 3.20 million ounce resource. Including Havieron, total gold endowment now exceeds 10.10 million ounces.

Greatland highlighted that the update supports continuity of operations at Telfer as Havieron is brought online. It noted that the reserve estimate was delivered just five months post-acquisition and within four weeks of the resource statement.

Managing director Shaun Day joined the Proactive studio, here we take a closer look at what was said.

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) has upgraded its two-year outlook for the Telfer gold-copper mine and has kicked off a new study exploring options to expand production at the Havieron project.

At Telfer, annual production is Telfer is projected at 280,000 – 320,000 ounces of gold and 7,000 – 11,000 tonnes of copper through to the end of 2027.

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.

A 42 per cent profit. That's what you'd have made on Greatland Gold PLC (AIM:GGP, OTC:GRLGF) shares if you'd bought at the start of 2025. 

The catalyst? A growing realisation that the group is on the cusp of something big. 

Greatland Gold PLC's (AIM:GGP, OTC:GRLGF) appointment of Dean Horton as CFO is timely as the miner nears a pivotal stage in its Havieron gold-copper development in the Pilbara region of Australia.

A definitive feasibility study on the project, due in 2024, and a full project funding solution to come are the next key steps.

The appointment will also provide a solid footing as joint venture partner Newmont progresses the sale process for its Havieron stake, Berenberg added, should the opportunity arise for Greatland Gold to participate in a value accretive transaction.

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) CEO Shaun Day spoke with Proactive’s Tylah Tully about the acquisition of the Telfer Mine and Havieron Project from Newmont.

This milestone marks a transformative moment for Greatland, as it transitions into a gold and copper producer with a strong development pipeline in Australia.

Shaun Day reflected on the acquisition's significance, stating, "We take 100% ownership of Telfer and Havieron, positioning us as a significant Australian gold-copper producer."