Highlights

  • GGP’s net profit after tax reached AUD 337.26 million, reversing the previous year’s loss.
  • The company’s Q1 FY26 production reached 80,890 ounces of gold and 3,366 tonnes of copper.
  • In FY26, the company targets 260,000–310,000 ounces of gold production.

Greatland Resources Limited (ASX:GGP) is an Australian company involved in the production of gold and copper, along with project development and mineral exploration activities, primarily in Western Australia. Its operations include the Telfer gold mine, one of Australia’s major gold-copper mining sites, and the development of the nearby Havieron gold-copper project.

Financial Update

In financial year 2025 (FY25), the company has reported revenue from contract with customers of AUD 961.3 million, primarily generated from the sale of 180,570 ounces of gold and 7,445 tonnes of copper at average realised prices of AUD 4,785 per ounce of gold and AUD 12,923 per tonne of copper. During the same period the company achieved a net profit after tax of AUD 337.26 million, compared to a loss of AUD 28.56 million in FY24, reflecting a 1,281% improvement YOY. Cash flow from operations totalled AUD 601.1 million, and net tangible assets per security increased to AUD 3.09 in FY25 from AUD 0.03 in the previous year.

Business Update

In Q1 FY26, GGP has reported production of 80,890 ounces of gold and 3,366 tonnes of copper at an AISC of AUD 2,155 per ounce. Gold recovery for the period was 88.6%, the highest quarterly rate recorded at Telfer since FY2010. In Q1 FY26, the company generated net revenue of AUD 476 million from the sale of 82,199 ounces of gold and 3,277 tonnes of copper at average realised prices of AUD 5,277 per ounce of gold and AUD 12,552 per tonne of copper.

Operating cash flow for the quarter was AUD 284 million, resulting in a cash build of AUD 175 million and a closing cash balance of AUD 750 million. The company remained debt-free during the period.

Key Positives and Negatives

In FY25, the company has reported improvement in its EBITDA margin to 48.8% from 36.5% in FY24. While the results reflect profitability, the company continues to face operational and financial challenges, including the need to meet production targets and manage rising capital costs at the Havieron project. Any delays or cost overruns could affect performance, and the company’s earnings remain sensitive to fluctuations in gold and copper prices.

Business Outlook

For FY26, GGP reaffirmed its guidance, expecting gold production of 260,000–310,000 ounces at an AISC of AUD 2,400–2,800 per ounce, with output weighted towards the first half. Capital expenditure is estimated at AUD 230–260 million.

Telfer growth capital is expected to touch AUD 230-260 million, weighthed towards the first half of FY26.

Share Performance of GGP
GGP’ shares were trading at AUD 6.95 per share on 29 October 2025 with intraday gain
of 1.76%. GGP’s stock down by 10.32% in last week as well as down by 6.20% over the past months, but up by 25% over the past three months. GGP’s 52 week high is AUD 9.23, recorded on 17 October 2025 and 52-week low is AUD 4.910, recorded on 13 August 2025.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 29 October 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.