29th Jul 2026 01:55
(Alliance News) - Greatland Resources Ltd on Wednesday reported a solid increase in annual gold and copper output, finishing above its full-year guidance.
The Subiaco, Australia-based gold and copper producer said it outperformed the annual gold production guidance of 260,000 to 310,000 ounces as gold output in financial year 2026 ended June 30 rose 66% to 328,987 ounces from 198,319 ounces a year ago.
All-in sustaining cost was AUD2,179 per ounce of gold, approximately USD1,519.
Copper production jumped 73% to 14,694 tonnes from 8,429 tonnes.
Greatland noted that financial 2025's output only covered the seven months it owned Telfer‑Havieron following completion of the acquisition in December 2024, having bought the assets from Newmont Corp.
Gold production in the fourth quarter rose 1.0% to 79,100 ounces from 78,283 ounces in the same period a year ago, while copper production declined 4.2% to 3,573 tonnes from 3,729 tonnes.
AISC was AUD2,312 per ounce of gold.
Gold sales dropped 15% to 76,648 ounces from 87,529 ounces at a weighted average realised price of AUD6,488 per ounce of gold.
Copper sales fell 5.6% to 3,531 tonnes from 3,740 tonnes at a weighted average realised price of AUD16,107 per tonne of copper.
Net revenue in the quarter was AUD545 million, up 12% from AUD487 million a year ago.
Greatland reported a cash flow from operations of AUD302 million and cash build of AUD81 million.
Additionally, it said zero lost time injuries occurred during the quarter which resulted to a 12-month moving average lost time injury frequency rate of 0.2.
Managing Director Shaun Day said: "The June quarter capped a very strong year of operations for Greatland in which we beat both production and AISC guidance. The maintenance of historically high recovery rates and continued improvement in open pit productivities over the year, together with record underground advance rates, were particularly pleasing.
Looking ahead to the current financial year, Greatland expects annual gold production of 260,000 to 300,000 ounces and AISC of AUD2,900 to AUD3,330 per ounce.
"We will commence the construction phase for our world-class Havieron project, and will continue our investment in Telfer including progressing new high-grade opportunities, in particular the West Dome Underground. The investments we make in FY27 will set the foundations for a period of production growth delivered by a higher quality, longer life, gold-copper production centre in the Paterson region," added MD Day.
Shares in Greatland fell 0.6% to AUD10.27 in Sydney on Wednesday morning.
By Judy Amaca, Alliance News reporter Asia-Pacific
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