Highlights

• FY26 production of 329.0koz gold and 14.6kt copper beat guidance
• AISC of AU$2,179/oz, below the guided AU$2,400–2,800/oz range
• AU$1,289 million cash, no debt and AU$1,764 million total liquidity
• Havieron expected to produce 266koz a year at AU$1,610/oz AISC in steady state
• Shares last traded at AU$11.28, up AU$0.479 (4.44%)

Greatland Resources Limited (ASX: GGP) released its corporate presentation on 23 September 2026. It sets out a strong FY26 at its Telfer operation in Western Australia's Paterson Province and a funded path to develop the Havieron gold-copper project. Investors responded positively, lifting the stock 4.44% to AU$11.28.

FY26 Performance Exceeds Expectations

Telfer produced 329.0koz of gold, above the top of the 260–310koz guidance range. All-in sustaining costs came in at AU$2,179/oz. The operation added AU$714 million in cash over the year, leaving the company debt-free with AU$1,289 million in the bank. Including AU$475 million in undrawn credit facilities, total liquidity is AU$1,764 million.

Telfer's scale also keeps processing cheap. It processed ore at about AU$17 per tonne in FY26, well below the peer average of roughly AU$37 per tonne among ASX-listed Australian gold mines.

Havieron: A Long-Life, Low-Cost Mine

The Havieron Feasibility Study, completed in December 2025, outlines a mine life of more than 17 years. That includes nine years at steady state, averaging 266koz of gold a year. At a long-term gold price of AU$4,500/oz, the study shows:

• an NPV of AU$2.9 billion
• an IRR of 22.5%

Pre-production capital of AU$1,065 million will be funded from cash reserves, a AU$500 million corporate debt facility and ongoing Telfer cash flow.

Growing Resources and FY27 Outlook

The group's Mineral Resource has nearly doubled under Greatland's ownership, reaching 14.9Moz of gold and 644kt of copper. The Ore Reserve stands at 5.0Moz of gold. FY27 guidance is:

• 260–300koz of gold at an AISC of AU$2,900–3,330/oz
• AU$315–335 million in Telfer growth capital
• AU$365–435 million for Havieron
• AU$70–80 million for exploration, including 215km of drilling at Telfer

Greatland also holds the O'Callaghans tungsten deposit near Telfer. It contains 70Mt at 0.35% WO₃, which the company describes as Australia's most significant tungsten deposit by scale and grade.

Note- All data presented is based on information available at the time of writing.

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