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Greatland Resources ( (GB:GGP) ) has shared an update.
Greatland Resources reported a strong March quarter, with production of 82,723 ounces of gold and 4,128 tonnes of copper at an all-in sustaining cost of $2,056 per ounce. High recoveries and record open pit material movements supported operations, while safety performance improved with no lost time injuries and lower injury frequency rates.
Financially, the company generated $742 million in net revenue and $453 million in operating cash flow, building cash by $260 million to $1.208 billion with no debt. Management highlighted full exposure to higher gold prices, ongoing Telfer growth capital spending and an aggressive drilling program that drove a 150% increase in the Telfer mineral resource, lifting group resources to nearly 15 million ounces of gold and reinforcing plans for a multi-decade gold-copper mining hub.
More about Greatland Resources
Greatland Resources is an Australia-based gold and copper producer focused on the Telfer and Havieron operations in Western Australia. The company operates open pit and underground mines and is positioning its assets as a long-life gold-copper hub underpinned by sizeable mineral resource inventories.
See more insights into GGP stock on TipRanks’ Stock Analysis page.