Greatland Resources Posts A$862m Profit as Telfer Drives Transformational Year
Greatland Resources Ltd (AIM/ASX: GGP) has reported a A$862 million net profit after tax for the year ended 30 June 2026, its first full financial year of ownership of the Telfer gold-copper operation.
Revenue surged 136% to A$2.26 billion, while EBITDA increased 186% to A$1.33 billion. Free cash flow climbed 413% to A$737 million, leaving Greatland with closing cash of A$1.29 billion.
Telfer produced 328,987 ounces of gold and 14,594 tonnes of copper during the year at an all-in sustaining cost of A$2,179 per ounce.
Greatland sold 326,859 ounces of gold at an average realised price of A$6,223 per ounce, alongside 14,730 tonnes of copper at an average A$14,895 per tonne.
The operation processed 19.2 million tonnes of ore at an average grade of 0.58g/t gold and 0.1% copper, achieving an 88% gold recovery rate.
Attention is now increasingly turning to Havieron, where Greatland completed its feasibility study and took a final investment decision in June. The development has an initial 17-year mine life, with steady-state production targeted at 266,000 ounces of gold and 9,600 tonnes of copper annually. First gold is expected approximately 2.5 years after project commencement.
The coming financial year will involve substantial investment. Greatland is guiding for 260,000 to 300,000 ounces of gold production, with Telfer growth capital expenditure of A$315 million to A$335 million and another A$365 million to A$435 million earmarked for Havieron.
Managing Director Shaun Day described the year as transformational, with improved operational productivity combining with strong gold and copper prices to deliver significant cash generation.
