The Greatland Resources Ltd (ASX: GGP) share price is in focus today as the gold and copper miner reported half-year revenue of $977.3 million and net profit after tax of $342.9 million, both significantly higher than the prior period.
What did Greatland Resources report?
- Revenue from ordinary activities surged to $977.3 million, up 5,797% from $16.6 million a year earlier
- Net profit after tax rose to $342.9 million, an 876% increase from $35.1 million in the previous corresponding period
- EBITDA soared to $560.3 million (from $10.8 million)
- Free cash flow grew to $387.4 million (compared to a $280.9 million outflow last year)
- Net tangible assets per share lifted to $2.47, representing a 24% improvement
- No interim dividend declared for the half year
What else do investors need to know?
Greatland completed its first full reporting period with 100% ownership of the Telfer gold-copper mine, which produced 167,163 ounces of gold and 6,894 tonnes of copper at an all-in sustaining cost of $2,176/oz. Operational improvements included upgrades to processing facilities, grade control systems, and open pit fleet renewals to lift productivity and safety metrics.
The company continued investment in growth, spending $177 million during the half, split across expansion at Telfer, feasibility work and early works at the world-class Havieron gold-copper development project, and resource drilling. The Havieron Feasibility Study, completed in December 2025, confirmed a clear path to a long-life, low-cost operation leveraging Telfer’s infrastructure.
Greatland advanced regional exploration, including new drilling at the Paterson South project, where it formed a joint venture with Rio Tinto Exploration. The company also secured binding commitments for $500 million in new corporate debt facilities to support project development and working capital.
What’s next for Greatland Resources?
Looking ahead, Greatland aims to maintain strong production at Telfer while progressing the Havieron mine towards development. The company is targeting environmental approvals and a final investment decision on Havieron in FY26, with first gold expected about 2.5 years post-approval.
Greatland plans to integrate low-grade stockpiles into mine schedules, continue the open pit fleet renewal, and advance resource drilling. The new debt facilities, alongside robust cash flows, are expected to provide ample funding flexibility for both Telfer’s ongoing needs and the upcoming Havieron build.
Greatland Resources share price snapshot
Over the past 12 months, Greatland Resources shares have risen 78%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.
The post Greatland Resources earnings: Bumper profit and revenue after first full Telfer half 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.