Source: Kapitales ResearchHighlights

• Following the latest reserve review, the company's Group Ore Reserve expanded 62% to reach 5.0 million ounces of gold.
• Initial drilling results contributed to a 150% expansion in the Telfer Ore Reserve.
• Ongoing exploration and technical studies continue to target further reserve growth across the Telfer-Havieron gold-copper complex.

Greatland Resources Limited (ASX: GGP) gained investor attention after its shares advanced 4.58% to AU$11.41, following the company's June 29, 2026 announcement of a significant upgrade to its Group Ore Reserve. The update highlighted substantial reserve growth across the Telfer-Havieron operations, reflecting successful drilling, continued resource conversion and mine optimisation efforts that support the company's long-term production strategy.

Latest Reserve Statement Signals Strong Growth Momentum

Released in March 2026, the Group Ore Reserve Statement revealed that Greatland had expanded its Group Ore Reserve by 62% to 5.0 million ounces of gold. According to the revised estimate, the Ore Reserve totals 157 million tonnes at average grades of 0.99 g/t gold and 0.12% copper, containing about 5.0 million ounces of gold and 196,000 tonnes of copper.The company said the increase was primarily driven by continued drilling success and technical evaluation at the Telfer operation, laying the foundation for a longer mine life while positioning the business for future reserve growth.

Telfer Reserve Delivers a Major Boost

The announcement revealed that the Telfer Ore Reserve climbed 150% to 1.8 million ounces of gold, despite ongoing mining depletion. Greatland noted that the updated reserve reflects drilling completed during approximately the first half of its planned 240,000-metre FY26 drilling program, leaving considerable exploration work still underway.The Telfer operation recorded significant reserve growth, with the West Dome Open Pit Ore Reserve rising 375% to 1.4 million ounces of gold and the Main Dome Underground adding a fresh 0.2-million-ounce reserve. The company also reported 22.5 million tonnes of stockpiles containing approximately 0.3 million ounces of gold, providing additional operational flexibility.

Further Expansion Opportunities Remain

While the latest reserve update marked a significant milestone, Greatland indicated that additional growth opportunities remain. The current Ore Reserve does not yet include the West Dome Underground (WDU) or the Vertical Stockwork Corridor (VSC), as both projects continue to undergo drilling and evaluation.Management also highlighted substantial inferred resources that remain outside the reserve estimate, particularly within the West Dome Open Pit and underground mining areas. Successful conversion of these resources into higher-confidence categories could enhance future reserve growth and improve mine economics over time.

Funding Supports Long-Term Development

Alongside the reserve announcement, Greatland confirmed it had achieved financial close on Facility B under its AU$500 million corporate debt facility. The AU$225 million revolving credit facility, which remains undrawn and has a seven-year tenor, is intended to support working capital, general corporate purposes and the ongoing development of the Havieron project. The strengthened funding position is expected to provide additional financial flexibility as the company continues investing in drilling, resource conversion and future mine development.Note- All data presented is based on information available at the time of writing.Disclaimer for Kapitales ResearchThe materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise. 

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