Gold prices just lower; monthly gains on track
LONDON - Greatland Resources Limited (ASX:GGP, AIM:GGP) reported a net profit after tax of $337.3 million for the fiscal year ended June 30, 2025, according to the company’s unaudited preliminary financial results released Thursday.
The mining company generated $961.3 million in revenue from customer contracts during just seven months of operations at its Telfer gold-copper mine, with an average achieved gold price of $4,785 per ounce.
Greatland, which completed the acquisition and integration of the Telfer operation during the fiscal year, reported net cash flow from operating activities of $601.1 million and segment earnings before interest, tax, depreciation and amortization of $526.7 million.
The company ended the fiscal year with $574.7 million in cash and cash equivalents and no debt, positioning it with significant liquidity for its fiscal year 2026 operational plans at both Telfer and its Havieron project.
Safety performance at the Telfer operation improved substantially, with the total recordable injury frequency rate decreasing to 6.0 as of June 30, 2025, from 14.1 recorded on December 31, 2024.
"Producing such a strong set of financial results from the first seven months of ownership of Telfer is a great credit to the significant efforts of our team," said Greatland Managing Director Shaun Day in the press release statement.
The company reported it now has full exposure to current spot gold and copper prices, which could impact future financial performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.