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PERTH - Greatland Resources Limited reported production of 80,890 ounces of gold and 3,366 tonnes of copper at its Telfer operation during the September quarter, with an all-in sustaining cost (AISC) of $2,155 per ounce, according to a press release issued Monday.
The company achieved what it described as "exceptional" gold recovery of 88.6% for the quarter, which it stated was Telfer's highest quarterly gold recovery since 2010. The operation maintained its safety record with no lost time injuries during the period.
Financially, Greatland generated $476 million in net revenue from sales of 82,199 ounces of gold and 3,277 tonnes of copper, at average realized prices of $5,277 per ounce and $12,552 per tonne, respectively. This contributed to operating cash flow of $284 million for the quarter.
The company reported a closing cash balance of $750 million as of September 30, up from $575 million at the end of June. Greatland remains debt-free and maintains full exposure to gold price upside with downside protection through put options at $3,905 per ounce for calendar year 2025 and $4,200 per ounce for 2026.
During the quarter, Greatland invested $69.8 million in growth capital expenditure at Telfer across tailings expansion, open pit pre-stripping, underground development and fleet renewal. The company also continued work on its Havieron Feasibility Study, which is targeted for completion in December 2025.
Greatland Managing Director Shaun Day noted that the company's resource development drilling program at Telfer had "progressed well and yielded encouraging results," including the identification of a new high-grade zone at the West Dome Underground project.
The company maintained its full-year production guidance of 260,000-310,000 ounces of gold at an AISC of $2,400-$2,800 per ounce, with production expected to be slightly weighted toward the first half of the fiscal year.
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