Shares in Greatland Resources Ltd (ASX: GGP) were virtually unmoved on Wednesday morning after the company said it had built its cash pile to $948 million on a strong quarter of gold production.
Greatland also said its full-year production was likely to come in near the upper end of guidance of 260,000-310,000 ounces of gold.
The company said in a statement to the ASX that it had produced 86,273 ounces of gold during the December quarter, up 6.7% on the previous quarter, at an all-in sustaining cost of $2196 per ounce.
The company also produced 3528 tonnes of copper during the quarter.
Strong cash build
Cash flow from operations came in at $406 million, and the company had a closing cash balance of $948 million at December 30, up from $750 million at the end of the September quarter.
Greatland Managing Director Shaun Day said it was a solid result.
We are pleased to have delivered another strong operational performance in the December quarter, with gold production of 86,273 ounces at an AISC of $2,196 per ounce. Key drivers included continued growth in open pit ore mined (a 32% increase in volume of mill feed mined) and maintained high gold recovery of 88.4%, continuing the strong trend from last quarter. “Based on the first half performance, we currently expect full-year production to trend towards the upper end of the guidance range of 260,000 â 310,000 ounces, and full-year AISC towards the lower end of the guidance range of $2,400 – $2,800 per ounce.
Mr Day said the company had “full upside” to the gold price rise during the quarter, and the company “achieved an average realised price of over $6,300 per ounce”.
He added that the company had now been operating the Telfer mine in Western Australia for 12 months, during which “we produced over 335,000 ounces of gold and 14,000 tonnes of copper, generated ~$1.3 billion cash flow from operations, and built our net cash by ~$800 million”.
Mr Day said regarding the company’s other major asset, the Havieron project:
An important milestone was achieved during the quarter with the completion and release of the results of the Havieron Feasibility Study which confirmed the pathway to a world-class, long-life, lowest quartile cost Australian gold-copper mine, leveraging existing Telfer infrastructure. Havieron’s development is expected to be fully funded from cash together with a $500 million binding debt commitment with Tier-1 banks.
Greatland shares were 0.3% lower on Wednesday morning at $13.93.
The post Which gold producer has built a cash pile of almost $1 billion? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Greatland Resources right now?
Before you buy Greatland Resources shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Greatland Resources wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 1 Jan 2026
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- Greatland Resources delivers strong Q4 cash flow and mine expansion progress
- Here are the top 10 ASX 200 shares today
- ASX gold shares go crazy as gold price rips toward US$5,000 on Friday
- Greatland Resources posts record drilling and grades at Telfer
- Here are the top 10 ASX 200 shares today
Motley Fool contributor Cameron England 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.
Leave a Reply