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Greatland Resources Ltd on Monday reported decreased revenue for its first quarter, but celebrated its ‘strong operational performance’. The Western Australia-focused gold and copper mining company, for the quarter ended September 30, produced 80,890 ounces of gold, up 3.3% from 78,283 ounces in the three months ended June 30. Copper production, however, decreased 9.7% to 3,366 tonnes from 3,729 tonnes. The all-in sustaining cost increased 24% to A$2,155 per ounce of gold from A$1,736 per ounce. Greatland also reported ‘exceptional’ gold recovery of 88.6%, up from 82.4% in the prior quarter. Copper recovery edged up to 81.3% from 81.1%. Net revenue decreased 2.3% quarterly to A$476 million from A$487 million. Greatland sold 82,199 ounces of gold, down 6.0% from 87,529 ounces, and 3,277 tonnes of copper, down 12% from 3,740 tonnes. ‘We are pleased to have delivered a strong operational performance in the first quarter,’ said Managing Director Shaun Day, ‘with...highlights of the quarter being Telfer gold recoveries and underground production. ‘Cash generation was again tremendous with $284 million cash flow from operations and cash build of $175 million for the quarter, at an average realised gold price of $5,277 per ounce.’ He added that ‘exploration and resource development drilling at Telfer has progressed well and yielded encouraging results across the West Dome Open Pit, Main Dome Underground and in particular the new West Dome Underground project where a new high grade zone has been identified.’ Looking ahead, Greatland maintained its guidance for the year ending June 30. It expects to produce between 260,000 and 310,000 ounces of gold at an AISC of $2,400 to $2,800 per ounce. ‘We look forward to finalising and sharing the results of the Havieron Feasibility Study, targeted during December 2025,’ Day said. ‘At quarter end, Greatland held $750 million of cash and remains debt free whilst generating strong operating cash flows from Telfer, which provides significant flexibility and de-risking for Havieron’s development funding.’ Shares in Greatland Resources were 3.7% lower at 359.95 pence on Monday in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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