8th Apr 2026 10:00
(Alliance News) - Greatland Resources Ltd on Wednesday said it has sold more gold that it produced in the quarter ending in March, and that now expects full-year production around or slightly above the upper end of its previous guidance.
Greatland Resources shares were up 14% to 762.50 pence each on Wednesday morning in London.
The Perth, Australia-based mining company with multiple interests in Western Australia said that it has produced 82,723 ounces of gold in the quarter, the third of its financial year, and 4,128 tonnes of copper. It results in year-to-date production of 249,887 ounces of gold, and 11.022 tonnes of copper.
While the all-in-sustaining-cost is still to be finalised, sales of both gold and copper outstripped production. The firm said 97,800 ounces of gold were sold in the quarter, as well as 4,620 tonnes of copper. So far, it has sold 252,212 ounces of gold, and 10.333 tonnes of copper during its 2026 financial year.
The company, which retains full upside exposure to gold price, while having partial downside protection provided by put options on the commodity, built approximately USD260 million in cash in the quarter, after capital expenditure and a USD73 million tax payment. Greatland Resources can now count on USD1.21 billion in cash and no debt at March 31, up from USD948 million at the end of 2025.
Greatland also said it expects full-year production around or slightly above the upper end of its production guidance, which ranges from 260,000 to 310,000 ounces of gold.
The forecast was enabled by its flagship Telfer gold-copper project in Western Australia not being impacted by diesel supply disruptions stemming from the war in the Middle East, as the plant is largely powered by natural gas generating electricity onsite. Diesel is only used for highest-grade ore sources, Greatland said.
By Martin Miraglia, Alliance News reporter
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