Greatland Resources was once a micro-cap explorer chasing anomalies in the Paterson, just like today’s crop of juniors. Its 2018 Havieron discovery transformed the company, and by late 2024 it completed a game-changing deal to acquire Newmont’s 70 percent stake in Havieron and full ownership of the Telfer gold-copper mine for up to US$475 million.
The acquisition consolidated the district, brought Newmont in as a strategic shareholder, and positioned Greatland as the sole operator of two tier-one assets.
Under its control, Telfer produced more than 90,000 ounces of gold and 3,500 tonnes of copper in a single quarter, generating A$253 million in free cash flow. The mine now underpins a regional hub-and-spoke model, with stockpiles, processing infrastructure and new exploration feeding into the plant. At the same time, Havieron has grown into an 8.4-million-ounce gold-equivalent resource, with a definitive feasibility study due in the second half of 2025 and first ore targeted for 2026. Analysts expect steady-state output of more than 258,000 ounces annually at competitive costs, confirming Havieron as one of Australia’s most significant undeveloped projects.
The transformation has been matched by financial and corporate reinvention. Greatland dual-listed on the ASX in June 2025, raising A$490 million at IPO and debuting at the top end of its range. The listing broadened its institutional base and was accompanied by a rebrand to Greatland Resources Limited, reflecting its evolution from a UK AIM explorer to a cash-generating, Australian-focused gold-copper producer. The balance sheet is robust, with A$574.7 million in cash and cash equivalents and no debt as at Jun2 2025, providing flexibility to fund Havieron and explore its 2,300 square kilometre Paterson landholding.
For investors, Greatland is the benchmark. Its journey shows that a single discovery can unlock enormous value, but also that it takes years of drilling, partnerships with majors, and bold acquisitions to turn geology into production. The halo effect is clear: juniors like FDR, GEO, Rockfire, Wishbone and Rincon draw attention precisely because they sit near or echo Havieron. Yet Greatland’s trajectory also underscores the rarity of success and the capital discipline required to reach it. The company has moved from AIM hopeful to ASX mid-tier, and its story is the blueprint every junior invokes when making the case that they too could be the next big discovery.
*Artical was first published on the 10th September 2025
Disclaimer: The information presented in this article represents the views and analysis of the author and is provided for informational purposes only. It should not be interpreted as financial, investment, or legal advice. Investors should conduct their own due diligence and consult a qualified adviser before making investment decisions. Investing in AIM-listed companies involves risk, and past performance is not indicative of future results.
