12th May 2021 13:47
Greatland Gold PLC - London-based exploration and development company with assets in Australia - Starts underground decline at the Havieron gold and copper project in Western Australia, owned by its joint venture with Newcrest Mining Ltd. A decline is a method of accessing underground ore via a ramp rather than a vertical shaft.
The next key milestone is completion of a pre-feasibility study, which is expected in the second half of the year. Greatland is investigating the potential to achieve commercial production at Havieron within three years of starting the decline, it said on April 29.
"This is a momentous step...the decline sets Havieron on course to become a large, multi-commodity, bulk tonnage, underground mining operation," Chief Executive Shaun Day said.
Current stock price: 21.35 pence, up 8.9% on Wednesday
Year-to-date change: down 42%
By Ivan Edwards; [email protected]
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