{"id":124054,"title":"Greatland Resources Soars on ASX Debut, Delivering Gains for Forrest-Backed Wyloo","publisher":"Share Talk","author":"sharetalk","published":"2025-06-24T14:08:44+00:00","modified":"2025-06-24T15:41:01+00:00","canonical_url":"https://www.share-talk.com/greatland-resources-soars-on-asx-debut-delivering-gains-for-forrest-backed-wyloo/","markdown_url":"https://www.share-talk.com/greatland-resources-soars-on-asx-debut-delivering-gains-for-forrest-backed-wyloo.md","json_url":"https://www.share-talk.com/greatland-resources-soars-on-asx-debut-delivering-gains-for-forrest-backed-wyloo.json","category":"Mining","categories":["Mining"],"tags":["Artemis Resources","ASX listing","Australia","Australian markets","AVR","Bromus","Cobalt","COPPER","electromagnetic","Ernest","ERNESTGILES","Exploration","Firetower","GGP","Gold","gold mining","Greatland Gold","GUN","Gunsynd","Havieron","investment opportunities","Mining","Newcrest","Nickel","Panorama","Paterson","Pilbara","precious metals","Scallywag","Share Talk","Shaun Day","Telfer","URANIUM","Warrentinna"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/06/GGP-24-JUNE.webp?fit=1200%2C800&quality=80&ssl=1","format":"news","language":"en-GB","content":"**Greatland’s ASX Listing Caps Surge in Australian Gold Deals Amid Soaring Prices**\n\n[Greatland Resources](https://www.share-talk.com/greatland-resources-asx-aim-ggp-commencement-of-trading-on-asx-issue-of-warrants/)’ high-profile ASX debut marks the latest in a wave of Australian gold sector activity, fuelled by record prices and surging investor demand. Backed by billionaires Andrew and Nicola Forrest, the miner surged as much as 12% to A$7.40 after raising A$490 million in an IPO priced at A$6.60. The listing follows a strategic shift of Greatland’s headquarters from the UK to Australia and included Newmont offloading half its stake in the company for $440 million.\n\n### Gold Boom Drives Sector Frenzy\n\nThe timing of Greatland’s move is no accident. Gold has soared past $5,000 an ounce, driven by central bank demand and geopolitical uncertainty, from US-China trade tensions to conflict in the Middle East. This rally has supercharged the profitability of Australian miners, who typically produce gold at costs between $2,000 and $2,800 an ounce.\n\n“This clearly gives us a tailwind,” said Greatland Managing Director Shaun Day. “People continue to want gold as part of their investment portfolio.”\n\nGreatland, now fully Australian-owned and listed, will retain a secondary AIM listing in London but sees the ASX as a better fit. “The ASX is the premier resources exchange globally… we can now trade on merit alongside our peers,” Day added.\n\n### High-Profile Backing and Leadership\n\nThe IPO attracted a “who’s who” of institutional resources investors, according to Day. The Forrests, though now separated, remain influential—holding around 8% of Greatland via Wyloo, with an option to more than double their stake to over 20% by acquiring Newmont’s remaining shares at a steep discount.\n\nThe company’s leadership team is tightly connected to Australian mining royalty:\n\n-\n**Chairman**: Mark Barnaba, deputy chairman of Fortescue and chair of AirTrunk\n\n-\n**Deputy Chair**: Elizabeth Gaines, former Fortescue CEO\n\n-\n**Non-Executive Director**: James Wilson, former BHP iron ore chief\n\n-\n**MD Shaun Day**: former CFO of Northern Star Resources\n\n### Strong Asset Base and Growth Outlook\n\nGreatland cemented its operating foundation last December, acquiring the Telfer gold and copper mine and the remaining 70% of the adjacent Havieron project from Newmont for US$475 million. Telfer has since produced over 90,000 ounces of gold at A$2,100 per ounce and 3,500 tonnes of copper.\n\nLooking ahead, the company is forecast to produce more than 300,000 ounces of gold in FY2026 at costs between A$2,300 and A$2,800 per ounce. According to Moelis analyst Paul Hissey, Greatland is “well capitalised, with $580 million in cash, no debt, and expected operating cashflow of $1.2 billion.” He assigned the shares a target price of A$7.50.\n\n### Sector-Wide Consolidation Heats Up\n\nGreatland’s listing arrives amid a broader gold sector consolidation:\n\n-\n**Genesis Minerals**: $250m takeover of Focus Minerals’ Laverton project\n\n-\n**Northern Star**: $6bn acquisition of De Grey Mining\n\n-\n**Gold Fields**: $3.7bn deal to acquire Gold Road Resources\n\n-\n**Delta Lithium**: spinning out its gold assets in a $30m IPO\n\n-\n**Spartan and Ramelius**: agreed merger\n\nDay acknowledged that Greatland’s scale and tier-one assets could make it a future acquisition target: “Being a mid-cap with a tier-one asset… does create some level of vulnerability, but our job is to operate our assets well.”\n\nWith a powerful balance sheet, strategic gold assets, and a foothold in the world’s top mining market, Greatland is now positioned as a serious player in the next phase of Australian gold industry consolidation."}