LONDON (ShareCast) - (Sharecast News) - Greatland Resources said in an update on Tuesday that it closed 2025 with more than $600m in operating cash flow, record gold production, and a successful listing on the ASX, establishing itself as a major Australian gold-copper producer.
From the acquisition of Telfer and Havieron in December through to the end of June, Greatland said it produced 198,319 ounces of gold and 8,429 tonnes of copper at an all-in-sustaining cost of $1,849 per ounce, comfortably within guidance.

The AIM-traded firm said the June quarter contributed 78,283 ounces of gold and 3,729 tonnes of copper at a lower all-in cost of $1,736.

June quarter revenue totalled $487m from sales of 87,529 ounces of gold and 3,740 tonnes of copper.

Operating cash flow rose to $310m for the quarter, lifting the company's net cash position to $575m.

Greatland said it remained debt-free.

The company also completed its initial public offering on the ASX during the quarter, raising $490m at $6.60 per share.

The offer comprised a $50m primary raise and a $440m sell-down by Newmont.

Managing director Shaun Day said the transaction "capped a transformational 2025 financial year," highlighting the integration of Telfer and Havieron, mine life extensions, and the emergence of Greatland as a "leading Australian gold-copper producer".

Telfer's key mining leases were renewed until 2045, and life-extension projects were now underway, including pre-stripping of the West Dome Open Pit Stage 7, development of a new underground access drive, and a tailings capacity expansion.

The company also launched the largest drilling campaign in Telfer's history, with six rigs operating in the June quarter and 240,000 metres planned for the 2026 financial year.

At Havieron, feasibility work on the expanded development remains on track for completion by the December quarter.

2025 growth capital totalled $97m, within guidance.

For the 2026 financial period, Greatland said it was targeting 260,000 to 310,000 ounces of gold production at an all-in sustaining cost of $2,400 to $2,800 per ounce.

Telfer growth capital was budgeted at $230m to $260m, with a further $60m to $70m earmarked for pre-final investment decision work at Havieron.

Day said the company was now focused on sustaining operational performance while advancing key growth projects.

"We are targeting further multi-year Telfer mine life-extensions by making important reinvestments, including into the drill rig with Telfer's largest ever drilling program.

"At Havieron, we are well placed to complete our feasibility study and resume development of this world-class project."

At 1509 BST, shares in Greatland Resources were down 21.58% at 258.8p.

Reporting by Josh White for Sharecast.com.

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