--- 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" date: 2025-06-24 canonical: "https://www.share-talk.com/greatland-resources-soars-on-asx-debut-delivering-gains-for-forrest-backed-wyloo/" 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"] 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" --- # Greatland Resources Soars on ASX Debut, Delivering Gains for Forrest-Backed Wyloo **Published:** June 24, 2025 **Author:** sharetalk **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) --- **Greatland’s ASX Listing Caps Surge in Australian Gold Deals Amid Soaring Prices** [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. ### Gold Boom Drives Sector Frenzy The 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. “This clearly gives us a tailwind,” said Greatland Managing Director Shaun Day. “People continue to want gold as part of their investment portfolio.” Greatland, 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. ### High-Profile Backing and Leadership The 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. The company’s leadership team is tightly connected to Australian mining royalty: - **Chairman**: Mark Barnaba, deputy chairman of Fortescue and chair of AirTrunk - **Deputy Chair**: Elizabeth Gaines, former Fortescue CEO - **Non-Executive Director**: James Wilson, former BHP iron ore chief - **MD Shaun Day**: former CFO of Northern Star Resources ### Strong Asset Base and Growth Outlook Greatland 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. Looking 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. ### Sector-Wide Consolidation Heats Up Greatland’s listing arrives amid a broader gold sector consolidation: - **Genesis Minerals**: $250m takeover of Focus Minerals’ Laverton project - **Northern Star**: $6bn acquisition of De Grey Mining - **Gold Fields**: $3.7bn deal to acquire Gold Road Resources - **Delta Lithium**: spinning out its gold assets in a $30m IPO - **Spartan and Ramelius**: agreed merger Day 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.” With 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. --- **Original URL:** https://www.share-talk.com/greatland-resources-soars-on-asx-debut-delivering-gains-for-forrest-backed-wyloo/ *Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*