Greatland Resources' Havieron deposit would pay itself off within five years at a gold price of $4,500 per ounce, the Forrest-backed producer has revealed, with management bullish on the long-term potential of the Telfer hub.
Greatland Resources has offered more context to a recent guidance downgrade at its Telfer mine which led to a billion-dollar sell-off, following up a series of questions from the ASX.
Goldminers are increasing the scale and size of their operations amid a record price environment fuelled by geopolitical tensions and economic uncertainty.
Greatland Resources has rejected a media report which claimed it was under the scrutiny of the corporate regulator, following a recent production guidance reduction.
Greatland Gold directors including Mark Barnaba and Elizabeth Gaines will be paid to surrender millions worth of in-the-money share options, to meet the company's ASX listing requirements.
Greatland Gold has unveiled a plan to seamlessly bring ore from its Havieron deposit into production through the Telfer goldmine from the 2028 financial year.
Forrest-backed Greatland Gold has built up a cash balance of almost $400 million off better-than-expected output from its Telfer goldmine, as it gears up for a mid-year listing on the ASX.
Greatland Gold has hailed the “Rolls Royce” Telfer project it acquired in December, after producing almost 30,000 ounces of gold from the project over its first 27 days of ownership.
Greatland Gold has lauded the transformative potential of its $700 million deal for Newmont's Telfer mine and the nearby Havieron gold project, as it closes in on its completion this week.
Greatland Gold and Newmont are targeting early December for completion of the $700 million acquisition of the neighbouring Havieron and Telfer gold projects.
A tailings storage facility which plagued recent operations at Newmont Mining's Telfer goldmine has been remediated, the project's aspiring owner Greatland Gold has told the London market.
Greatland Gold chief executive Shaun Day believes the Telfer gold-copper mine his company is acquiring in a $700 million deal with Newmont Corporation is in its best shape in nearly two decades.
Greatland Gold remains keen on the ASX listing it postponed last year, pending progress on the potential buyback of a majority stake in the Havieron gold project from JV partner Newmont.
Greatland Gold managing director Shaun Day says the company would be open to consolidating ownership of the Havieron gold-copper project if the opportunity presented itself.
Newmont Corporation has announced it will divest six of its non-core assets, including its Telfer goldmine in the Pilbara, with Andrew Forrest-backed Greatland Gold the likely buyer.
Aspiring gold producer Greatland Gold has recruited three of the state's most prominent company directors while also attracting Andrew Forrest's Wyloo Metals as its top shareholder.
Our weekly appointments wrap includes David Gainer, Andrew Hammond, Len Kosova, Phil Thick, Derek Hays, Warren Hallam, Dan Foo, Thomas Currin, Tim Roach, Richard Frankli
