Greatland Resources beats FY26 gold guidance after 6% annual production increase
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The news: Greatland Resources has reported a 6% year-on-year production increase to 328,986 ounces for the full year, tracking above the top end of its previously stated guidance range.
The context: This follows the miner achieving production of 79,099 ounces of gold and 3,573 tonnes of copper in the June quarter, with the all-in-sustaining-cost to be finalised in the upcoming June quarterly report.
Full-year gold production surpassed the previously guided range of 260,000 ounces to 310,000 ounces.
Greatland reported fourth-quarter sales of 74,648 ounces of gold and 3,531 tonnes of copper, bringing full-year sales for gold and copper to 326,859 ounces and 14,729 tonnes respectively.
As of 30 June, the company had accumulated $1.2 billion in cash reserves, representing a net cash build of $81 million for the June quarter. The company maintains full upside exposure to the gold price, backed by partial downside price protection via gold put options.
The source: ASX
