26th Oct 2026 02:17
(Alliance News) - Greatland Resources Ltd on Monday said production was lower in the first quarter of financial year 2027, but said it is on track for full-year guidance.
The Subiaco, Western Australia-based gold and copper producer said gold production for the first quarter ended September 30 was 70,131 ounces, down 13% from 80,890 ounces a year ago.
The firm said production is expected to be weighted to the second half of the financial year due to open pit scheduling. It also said production was affected by a 15-day planned maintenance period on its process plant.
The all-in sustaining cost was AUD2,925 per ounce, or USD2,056.02, up 36% from AUD2,155 per ounce a year prior.
Copper production also fell 13% to 2,927 tonnes, from 3,366 tonnes year-on-year.
Sales declined to 71,901 ounces of gold over the quarter, 13% lower than 82,199 ounces the year prior.
Copper sales fell 17% to 2,714 tonnes from 3,277 tonnes previously. Silver sales plummeted 40% to 27,937 ounces from 46,534 ounces.
However, the average realised price of gold increased 13% to AUD5,980 per ounce from AUD5,277 per ounce previously.
The average realised copper price was AUD16,653 per tonne, also up 33% from AUD12,552 per tonne.
The average realised silver price was AUD77 per ounce, up 20% from AUD64 per ounce.
Total revenue was 1.9% higher at AUD485 million in the quarter, up from AUD476 million previously.
Managing Director Shaun Day said: "We are pleased to have started the 2027 financial year with a well-executed operational performance and good cost control in the first quarter, which included successful completion of the year's major planned maintenance of the process plant."
The firm said it is on track to achieve its full-year guidance of 260,000 to 300,000 ounces of gold at an AISC of AUD2,900 to AUD3,300 per ounce.
Shares in Greatland rose 6.8% to AUD9.27 per share on Monday afternoon in Sydney. In London, shares closed down 4.2% at 454.80 pence each on Friday.
By Harvey Dorset, Alliance News reporter
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