Greatland Resources Limited (ASX:GGP), a gold and copper Mining company operating in Western Australia, announced its financial results for the full year ended 30 June 2026 in a release dated 27 August 2026. The results represent the first complete financial year of Telfer mine operations under Greatland's ownership following its Acquisition in December 2024. NPAT for the year was $862 million on Revenue of $2,259 million, while free Cash Flow reached $737 million. The year also saw the approval of the Final Investment Decision (FID) for the adjacent Havieron gold-copper project.

About Greatland Resources

Greatland Resources Limited is a gold and copper mining company listed on both the Australian Securities Exchange and the London Stock Exchange's AIM Market (ASX: GGP, AIM: GGP). The company's primary operations are centred on the Telfer mine in the Paterson Province of the East Pilbara region of Western Australia, which Greatland acquired from Newmont in December 2024. Adjacent to Telfer sits the Havieron gold-copper development project, a Greatland-owned brownfield asset that has completed a positive Feasibility Study and received its final investment decision in June 2026.

FY26 Results — Released 27 August 2026

Greatland's FY26 revenue reached $2,259 million, generated from the sale of 326,859 ounces of gold at an average realised price of $6,223 per ounce and 14,730 tonnes of copper at an average realised price of $14,895 per tonne. EBITDA was $1,332 million, NPAT was $862 million, and Operating Cash Flow was $1,238 million — all materially higher than the prior corresponding period, which reflects only approximately seven months of Greatland ownership of Telfer.

Operationally, the company produced 328,987 ounces of gold and 14,594 tonnes of copper at an AISC of $2,179 per ounce of gold produced (net of by-product credits). The mill processed 19.2 million tonnes of material at an average grade of 0.58 g/t gold with an 88.0% gold recovery rate. Mined ore came from two sources: 11.3 million tonnes from the West Dome Open Pit and 1.2 million tonnes from the Main Dome Underground.

A key milestone during FY26 was the completion of the Havieron Feasibility Study in December 2025, which demonstrated undiscounted free cash flow of $7.7 billion pre-tax under base case assumptions (A$4,500 per ounce long-term gold price). Greatland's Board approved the Havieron FID in June 2026 following the receipt of primary environmental approvals and the execution of $500 million in corporate Debt facilities. First gold from Havieron is expected during FY29.

The company also announced material upgrades to Telfer's Mineral Resources (up 4.8 Moz, or +150%, to 7.9 Moz gold) and Ore Reserves (up 1.1 Moz, or +150%). A maiden Mineral Resource for the O'Callaghans Tungsten Project was also announced. Exceptional drill results from the Pinnacles prospect confirmed a ~1.2 km extension to the West Dome geological structure. Closing cash at 30 June 2026 was $1,289 million, with total available Liquidity of $1,764 million. Greatland ended the year with no closing debt.

Dividend

No Dividend was declared in connection with the FY26 results. The company's Capital allocation priorities centre on funding the Havieron construction program and continuing investment at Telfer, including the West Dome Underground project. The strong free cash flow and net cash position of approximately $1.3 billion at the close of FY26 provide the financial capacity to fund the FY27 growth capital program without requiring external equity.

Industry Context

The Australian gold-copper mining sector experienced an advantageous pricing environment in FY26, with gold prices reaching record levels in Australian dollar terms and copper markets remaining constructive. Greatland's full-year contribution from Telfer, combined with the Havieron FID, positions the company as a growth-oriented player in the sector. The Paterson Province of Western Australia — where both Telfer and Havieron are located — has emerged as a significant exploration and development precinct, with several large-scale discoveries underpinning sustained capital commitments.

Risks and Uncertainties

The Havieron construction program involves substantial pre-production Capital Expenditure of $1,065 million, and first gold is not expected until FY29. Construction execution risk, cost inflation, and permitting delays represent material considerations. At Telfer, the milled grade of 0.58 g/t gold was 11% lower than the prior year, which may intensify over time if reserve grades decline. FY27 gold production guidance of 260–300 koz at AISC of $2,900–3,330 per ounce represents a meaningful increase in unit costs, reflecting open pit scheduling and a planned process plant shutdown in the first quarter. The Total Recordable Injury Frequency Rate (TRIFR), while reduced to 4.5 from 5.9, remains an area of ongoing focus.