Gold prices hold sharp gains as soft US jobs data fuels Fed rate cut bets
Investing.com - Goldman Sachs initiated coverage on Greatland Resources Ltd (ASX:GGP) with a Neutral rating and a price target of AUD7.80, implying approximately 8% upside compared to Goldman’s covered gold peer average of 13% upside.
The Western Australia gold company transformed from an exploration firm to a producer following its successful US$475 million acquisition of the Telfer gold-copper mine and consolidation to 100% ownership of the Havieron gold-copper project from Newmont (ASX:NEM) in December 2024.
The acquisition provides Greatland Resources access to approximately 20 million tonnes per annum (Mtpa) of processing capacity at the Telfer processing plant, which features a dual train processing system of roughly 10Mtpa each, with demonstrated periods of 21-23Mtpa as noted during a recent site visit.
According to the company, this processing capacity is expected to support the current Telfer mine plan and likely extensions, Havieron production, and other future opportunities including discoveries and regional developments.
Greatland Resources continues to focus on extending the Telfer mine life and refining the Havieron mine plan to develop a long-life integrated Telfer-Havieron mining and processing operation in Western Australia.
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