Greatland Resources has beaten its full-year gold production forecast and says its cash stash is looking healthier as it prepares to develop a new mine in WA’s Pilbara.
The company, which acquired the massive Telfer mine from US giant Newmont in 2024, reported June quarter output of 79,099 ounces on Monday.
That brought 2025-26 gold production to 328,986oz, which was 6 per cent above its highest estimate.
The company, chaired by Fortescue deputy chair Mark Barnaba, had cash at the end of June of $1.29 billion and no debt, representing a cash build of $81 million for the quarter.
“Greatland maintains full upside exposure to the gold price, with partial downside price protection provided from gold put options,” the miner said.
The company last month locked in a $500m loan with a syndicate of banks, saying that gave it the confidence to pull the trigger on its Haveiron project, combined with its strong net cash position.
Haverion is set to cost $1.07b to produce first gold, with the company planning to spend about $670m to expand the future mine’s output.
Greatland owned a 30 per cent stake in Haverion before scooping up the remainder as part of a $US475 million deal to buy nearby Telfer.
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