REG - Greatland Gold PLC - First Telfer gold poured under Greatland ownership

Greatland GoldAnnouncement

09/12/2024 07:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241209:nRSI3105Pa&default-theme=true

RNS Number : 3105P  Greatland Gold PLC  09 December 2024

Greatland Gold plc (AIM: GGP)

E: info@greatlandgold.com

W: https://greatlandgold.com

: twitter.com/greatlandgold

 

 

NEWS RELEASE | 9 December 2024

 

 

Telfer operations and hedging update

 

First gold poured under Greatland ownership at Telfer

 

Commercial production underway utilising both Telfer processing trains

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
MARKET ABUSE REGULATIONS.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE
PUBLIC DOMAIN.

Greatland Gold plc (AIM:GGP) (Greatland or the Company) is pleased to provide
an update on operations at its Telfer gold-copper mine.

 

First gold

 

On 8 December 2024, the first gold bars under Greatland ownership were poured
at Telfer.

 

Figure 1: First Greatland Telfer gold bars

 

Commercial production

 

Greatland completed its acquisition of Telfer and Havieron from Newmont
Corporation on 4 December 2024.

 

Prior to completion, processing operations were utilising only one of the two
nominal 10Mtpa processing trains, preserving Telfer ore and stockpiles for
Greatland to process after completion.  Shortly following completion of the
acquisition, Greatland resumed dual-train processing operations.

 

An estimated 30.5Mt to 34.5Mt of stockpiles were acquired by Greatland on
completion.  The stockpiles include an estimated 11.5Mt of high-grade
run-of-mine grade ore stockpiles, plus a further estimated 19.0 to 23.0Mt of
low grade stockpiles.

 

Mining is continuing in the West Dome open pit and Main Dome underground.

 

Gold puts hedging program

 

On 3 December 2024, Greatland announced that it had purchased gold put options
purchased from its banking syndicate of ANZ, HSBC and ING (the Banks) in
respect of 100,000 ounces of Telfer gold production volumes at average strike
price of A$3,887.50 per ounce, and that it expected to purchase put options
for a further 50,000 ounces in due course.

 

Greatland is pleased to announce that it has purchased the put options for the
further 50,000 ounces of Telfer gold production volumes, completing a 150,000
ounce hedging program with an average strike price of A$3,905.17 per ounce as
detailed in the table below.

 

 Quarter End Date  Gold Volumes Under              Put Options (koz)               Average Blended Strike Price (A$ per ounce)
 31-Mar-2025       33,996                                                          3,905.17
 30-Jun-2025       46,302                                                          3,905.17
 30-Sep-2025       38,910                                                          3,905.17
 31-Dec-2025       30,792                                                          3,905.17
 Total             150,000                                                         3,905.17

 

The put options establish a price level at which Greatland would have the
right, but not obligation, to sell gold, therefore providing a minimum
downside price protection for the protected ounces while retaining full upside
exposure to the gold price across 100% of Telfer production volumes.
Greatland will continue to review its hedging program as appropriate going
forward.

 

Greatland Managing Director, Shaun Day, commented: "Greatland's first ever
gold production at Telfer is a wonderful milestone and a credit to our team.
Equally importantly, we are delighted to have resumed dual train processing
operations in line with our Telfer mine plan.  The combination of a strong
gold price and significant ore stockpiles at surface makes this a tremendous
time to own the Telfer mine."

 

Contact

 

For further information, please contact:

 

Greatland Gold plc

Shaun Day, Managing Director  |  Rowan Krasnoff, Head of Business
Development

info@greatlandgold.com

 

Nominated Advisor

SPARK Advisory Partners

Andrew Emmott / James Keeshan / Neil Baldwin  |  +44 203 368 3550

 

Corporate Brokers

Canaccord Genuity  |  James Asensio / George Grainger  |  +44 207 523 8000

Berenberg  |  Matthew Armitt / Jennifer Lee  |  +44 203 368 3550

SI Capital Limited  |  Nick Emerson / Sam Lomanto  |  +44 148 341 3500

 

Media Relations

UK - Gracechurch Group  | Harry Chathli / Alexis Gore / Henry Gamble  |
+44 204 582 3500

Australia - Fivemark Partners  |  Michael Vaughan  |  +61 422 602 720

 

About Greatland

 

Greatland is a gold and copper mining company listed on the London Stock
Exchange's AIM Market (LSE:GGP) and operates its business from Western
Australia.

 

The Greatland portfolio includes the 100% owned Telfer gold-copper mine,  the
adjacent 100% owned world class Havieron gold-copper project (under
development), and a significant exploration portfolio within the surrounding
region. The combination of Telfer and Havieron provides for a substantial and
long life operation in the Paterson Province in the East Pilbara region of
Western Australia.

 

Greatland is targeting a dual listing on the ASX in the June quarter 2025.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUPGAPPUPCUMB