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2026-11-06
◂ Monitor GGP ASX

Greatland Resources Limited

Producer · Gold · Copper · Australia Rating locked: sign in to view v8 · ggp-20261024t174328-full
Last 2026-11-06
A$10.33
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$7B
EV
A$5.9B
Cash
A$1.3B
Debt
A$0
4 newer ASX announcements not yet reflected in this valuation

Portfolio detail

Assets

11 assets

Core asset

Telfer gold-copper mine and processing hub

Australia

Producer100% ownedGoldCopper

100% acquired 4 December 2024. FY26 stockpile-assisted output; FY27 lower-grade transition. WDU and VSC are included within Telfer resource, not separately capitalised.

Producer · Producer
Production annualised (attributable)
316.4k ozd
Production (last FY, 100%)
329.0k oz
AISC (latest quarter)
A$2,179/oz
AISC margin at spot
62.8%m
Delivery vs guidance
—
Reserve life
5.5 yrsd
Head grade
0.58 g/t
Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured, Indicated and Inferred417M t0.59g/t Au; 0.09% CuGold · Copper2025-12-31
Ore ReserveProven and Probable118.7M t0.46g/t Au; 0.06% CuGold · Copper2026-03-31

Core asset

Havieron gold-copper project

Australia

Construction100% ownedGoldCopper

100% after Newmont 70% acquisition. FID 1 June 2026; first gold targeted FY29; steady state approximately three further years.

Developer · Construction
Study
DFSs
Post-tax NPV (study prices, attributable)
A$2.9bd
NPV restated at our deck (attributable)
Locked
IRR
22.5%s
Initial capex (100%)
A$1.1bd
Capital intensity
A$5,126/(oz/year/yr)d
LoM AISC
A$1,725/ozs
Mine life
17.0 yrss
Published study economicsIssuer or study metrics
NPVA$2.9B5% discount
IRR22.5%Published return
Initial capexA$1.1BPublished capital estimate
Operating cost1,725AUD/oz Au AISC LOM

Post-tax NPV5%; LT Au4500, Cu15747; near-term gold path differs; capital already included; standalone processing, not hub synergy case.

Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceIndicated and Inferred131M t1.65g/t Au; 0.21% CuGold · Copper2023-12-20
Ore ReserveProbable38.5M t2.63g/t Au; 0.33% CuGold · Copper2026-03-31
Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
WA and Commonwealth primary environmental approvalsWestern Australia / CommonwealthGranted—Yes
Economic studies1
StudyStageStatusDateSummary
December 2025 Havieron Feasibility StudyDFSCurrent2025-12-01Standalone processing basis; 17-year mine life, 1,065m pre-production plus 673m expansion capex; 80% reserve, 2% indicated, 13% inferred and 5% exploration target by contained gold. FY29 current first-gold guidance supersedes FS FY28 scheduling.

Material

O’Callaghans tungsten polymetallic project

Australia

Resource Stage100% ownedTungstenCopperZincLead

Large mineral resource on an existing mining lease; no current economic study or approved development. WO3 resource basis is retained without translating into tungsten benchmark equivalents.

Resource / scoping · Resource stage
Contained metal (attributable)
—
Resource grade
0.3%
% Measured + Indicated
95%d
Resource tonnes
70.00 Mtd
Our value per attrib. contained unit
Locked
Mining method
—
Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceIndicated and Inferred70M t0.35% WO3; 0.30% Cu; 0.57% Zn; 0.28% PbTungsten · Copper · Zinc · Lead2026-06-30

Other

Telfer Near Mine exploration

Australia

Early Explorer100% ownedGoldCopper

61 regional tenements around the hub; approximately 927km2. Distinct from included Telfer resource.

Exploration · Early explorer
Ownership
100%
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

Other

Paterson South

Australia

Early Explorer51% ownedGoldCopper

Current 51% JV formed 23 December 2025; elected sole funding to earn up to 75%. Conditional sale of two tenements.

Exploration · Early explorer
Ownership
51%
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

Other

Scallywag and Panorama

Australia

Early Explorer100% ownedGoldCopper

Scallywag 19 tenements approximately 600km2. Three Scallywag and Panorama tenements conditional sale to Aventine; retains current economic interest until completion.

Exploration · Early explorer
Ownership
100%
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

Other

Telfer South farm-in

Australia

Early Explorer0% ownedGoldCopper

Rincon five-tenement farm-in; up to 75% conditional interest, initial commitments not yet satisfied. No earned interest stated.

Exploration · Early explorer
Ownership
0%d
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

Other

Kidson applications

Australia

Early Explorer0% ownedGoldCopper

Eight applications, approximately 770km2, not yet granted; native title process required.

Exploration · Early explorer
Ownership
0%d
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

Other

Ernest Giles

Australia

Early Explorer100% ownedGoldCopper

Five tenements 1323km2; FY26 7485m drilling, early targets without defined commercial resource.

Exploration · Early explorer
Ownership
100%
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

Other

Mt Egerton and Yannarie

Australia

Early Explorer100% ownedGoldCopper

Mt Egerton six tenements 576km2 and Yannarie two tenements; reconnaissance-stage portfolio.

Exploration · Early explorer
Ownership
100%
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

Other

Dingo Bore farm-in

Australia

Early Explorer0% ownedGoldCopper

Arabella farm-in right to earn up to 80%, one granted 194km2 and one application 294km2; no earned percentage reported.

Exploration · Early explorer
Ownership
0%d
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)

Stock database

Other assets

Plants, holdings and assets valued inside a project
Antipa listed equity investment · Equity investment · Held
Investee
Antipa Minerals Limited
Holding
—
Shares held
—
Market value
—
% of holder's market cap
—
Cost basis
A$25.0md