Highlights

  • Greatland Resources (ASX:GGP) traded at AUD 13.61 on 25 August 2026, up 0.22% on the day.
  • FY2026 production reached 328,987 ounces of gold and 14,594 tonnes of copper.
  • The company ended FY2026 with A$1.29 billion in cash, bullion and listed investments and no debt.
  • Havieron development remains the key Long-term Growth driver following final Investment approval.

Greatland Resources Ltd (ASX:GGP) continues to strengthen its position as a major Australian gold-copper producer, supported by strong operational performance at Telfer and the advancement of its flagship Havieron development project in Western Australia’s Paterson Province.

The company traded at AUD 13.61 on 25 August 2026, rising 0.22% on the day, as investors continued to assess its combination of existing production, substantial Liquidity and long-term growth potential.

Greatland has transformed into a significant gold-copper producer following its Acquisition of the Telfer operation and consolidation of ownership of the Havieron project, creating a strategy centred on building a long-life Mining hub in Western Australia.

FY2026 Performance

Greatland delivered a strong FY2026 operational result, with full-year production reaching 328,987 ounces of gold and 14,594 tonnes of copper.

The result exceeded the company’s previous gold production guidance of 260,000–310,000 ounces, supported by strong operational performance at Telfer. The company also achieved an annual All-In Sustaining Cost (AISC) of A$2,179/oz, below its guided range of A$2,400–A$2,800/oz.

During the June 2026 quarter, Greatland produced 79,100 ounces of gold and 3,573 tonnes of copper, with quarterly AISC of A$2,312/oz. The quarter generated net Revenue of A$545 million and Operating Cash Flow of A$302 million.

Telfer Strength

The Telfer gold-copper operation remains the company’s primary operating asset and an important source of cash generation.

Operational improvements, higher productivity and strong gold recovery rates supported the FY2026 performance. The company also increased Telfer’s ore reserve by 1.1 million ounces to 1.8 million ounces, contributing to group reserves of approximately 5.0 million ounces of gold.

The reserve growth highlights the potential to extend the operating life of the asset while supporting Greatland’s broader strategy of building a long-term production base.

Havieron Development

Havieron remains the central growth opportunity within Greatland’s portfolio.

In June 2026, the company approved the Final Investment Decision (FID) for Havieron following receipt of key environmental approvals. The project is expected to Leverage existing Telfer infrastructure, helping reduce development complexity compared with a standalone operation.

The feasibility study outlined pre-production Capital Expenditure of approximately A$1.065 billion, with first gold targeted for FY2029. The project is expected to become a major contributor to Greatland’s future production profile once developed.

Financial Position

Greatland entered FY2027 with a strong financial foundation, ending FY2026 with A$1.29 billion in cash, bullion and listed investments and no debt.

The strong Balance Sheet provides the company with flexibility to fund Havieron development, continue exploration and manage its broader growth strategy.

A significant liquidity position is a key advantage as Greatland transitions from a producing company into a larger-scale developer with substantial capital requirements ahead.

Growth Pipeline

Beyond Havieron, Greatland continues to focus on exploration and resource growth across the Telfer region and broader Paterson Province.

The company is targeting additional underground growth opportunities, including West Dome Underground, which could further enhance production potential over time.

The combination of existing production, exploration upside and major development projects provides Greatland with multiple pathways to expand its resource base and strengthen its market position.

Investor Focus

Investor attention is likely to remain focused on Havieron construction progress, capital deployment and Telfer operating performance.

While FY2026 delivered strong results, FY2027 represents an investment-heavy period as Greatland advances major growth initiatives. Management expects lower production compared with FY2026 while significant capital is directed towards future growth.

The company’s ability to balance near-term production performance with long-term project development will remain a key Factor influencing market sentiment.

Gold-Copper Outlook

Greatland’s exposure to both gold and copper provides Diversification across two strategically important commodities.

Gold continues to attract investor Demand due to its role as a store of value, while copper remains critical for electrification, renewable energy infrastructure and global industrial growth.

The company’s Telfer-Havieron strategy positions it within both of these long-term Commodity themes.

Risks Ahead

Greatland faces risks associated with large-scale project development, including construction execution, capital requirements, permitting and operational delivery.

Havieron represents a significant investment program, and delays or cost increases could affect project economics.

The company also remains exposed to movements in gold and copper prices, which influence revenue generation and overall financial performance.

Conclusion

Greatland Resources (ASX:GGP) continues to build a strong gold-copper growth story, supported by record FY2026 production, a substantial cash position and the advancement of Havieron. The company has established a solid operating foundation through Telfer while preparing for its next major growth phase.

With Havieron expected to become a key future production driver, successful project execution, capital management and continued operational performance will remain central to Greatland’s long-term outlook.