The Greatland Resources Ltd (ASX: GGP) share price is in focus today as the company reported a 150% increase in Telfer’s gold Mineral Resources to 8.0 million ounces, with combined Telfer and Havieron resources now totalling 14.9 million ounces of gold and 645 thousand tonnes of copper.
What did Greatland Resources report?
- Telfer Mineral Resource Estimate (MRE) rose by 4.8Moz to 8.0Moz (+150%) at a discovery cost of $5/oz
- Measured and Indicated Resource at Telfer up 163% to 3.8Moz gold
- Combined Telfer and Havieron resources now total 14.9Moz gold and 645kt copper
- Maiden West Dome Underground resource of 0.6Moz gold, with scope for further growth
- West Dome Open Pit resource increased 135% to 4.9Moz gold
- Record drilling campaign of 134,000m incorporated, with >100,000m more planned for H2 FY26
What else do investors need to know?
Greatland’s updated December 2025 Group Mineral Resource Estimate reflects a period of accelerated growth following significant new drilling since its last update. The company continued to advance the Telfer operation, supported by a strong drilling pipeline and the addition of high-grade underground resources.
The upgraded Measured and Indicated Resources boost Greatland’s ability to move more material into future ore reserve estimates, providing greater confidence in mine planning. Cost and revenue assumptions were updated using 2025 actuals and conservative metal price assumptions, indicating a robust economic base.
What did Greatland Resources management say?
Managing Director Shaun Day said:
Telfer and Havieron’s combined resource of 550Mt @ 0.84g/t Au & 0.12% Cu for 14.9Moz Au & 645Kt Cu has the potential to underpin a multi-decade, world class mining hub. Our investment in significantly increased drilling has delivered substantial organic growth, with the overall Telfer resource growing by 150% to 8.0Moz, and the higher confidence Measured and Indicated component by 163% to 3.8Moz.
What’s next for Greatland Resources?
With substantial increases in both the total resource and confidence classification, Greatland now plans to update the Telfer Ore Reserve Estimate in the June 2026 quarter. The focus will shift to advancing higher-grade zones, such as the West Dome Underground and Main Dome sub-level cave.
An ongoing record drilling program is set to continue through the second half of FY26 into FY27, aiming to further grow and upgrade resources for potential development and long-term operation.
Greatland Resources share price snapshot
Over the past 12 months, Greatland Resources shares have risen 34%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.
The post Greatland Resources delivers major resource upgrade at Telfer appeared first on The Motley Fool Australia.
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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.