Proactiveinvestors Australia Greatland Gold PLC https://www.proactiveinvestors.com.au Proactiveinvestors Australia Greatland Gold PLC RSS feed en Thu, 21 Mar 2019 04:35:39 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Strategic and Operational Update ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190319082431_14007266/ Tue, 19 Mar 2019 19:24:31 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190319082431_14007266/ <![CDATA[News - Greatland Gold’s US$65mln joint venture deal is just the latest in an ongoing rush into the gold-bearing riches of Paterson ]]> https://www.proactiveinvestors.com.au/companies/news/216387/greatland-golds-us65mln-joint-venture-deal-is-just-the-latest-in-an-ongoing-rush-into-the-gold-bearing-riches-of-paterson-216387.html What do you get if you hit 275 metres grading 4.77 grams gold and 0.61% copper?

The answer is simple enough, as shown by Greatland Gold PLC (LON:GGP) this week: a US$65mln joint venture deal that could pay all expenses to feasibility, and which could lead to the development of a major producing mine.

WATCH: Greatland Gold in a 'tremendous position' as it signs US$65mln Havieron farm-in

The partner in question is Newcrest Mining LTD (ASX:NCM), Australia’s largest gold producer and, as a participant in the Lihir mine in Indonesia, a major player in the international scene.

It’s quite some leap for Greatland, shares of which are now touching five-year highs, to give it a market capitalisation of more than £50mln.

But even with the share price leap, the value of Newcrest’s potential spend still roughly commensurates with Greatland’s entire capitalisation.

In short, it’s a big deal for a small company, the type of which you don’t see every day.

WATCH: Greatland Gold PLC the 'erstwhile minnow' now valued at more than £60mln

At the heart of it is that 275-metre intercept and what it means.

First off, it’s deep, running from depths of around 459 metres below surface. That means an expensive underground operation is inevitable, and one that’s surely out of the price range of a junior miner like Greatland.

Nevertheless, the sheer quality of the intercept, its length and grade, meant that Greatland was unlikely to be short of suitors offer to provide assistance, and on attractive terms too. Indeed, such an outcome was already broadly priced into Greatland’s shares, which, although they leapt on the day of the Newcrest announcement, didn’t quite scale the former heights reached when the original news of the intercept came out.

But of course, there’s more than one drill hit to this story.

WATCH: Greatland Gold's Havieron has potential to be multi-commodity project of 'significant scale'

There’s a whole new gold district opening up in and around Greatland’s Havieron project in Western Australia. Previous drilling by Greatland had already hit, what in the context of the later hit might now be called “encouraging”, but which at the time looked attractive enough in their own right.

Drilling returned 121 metres of 2.93 grams per tonne in early 2018, and follow-up work in the summer delivered further hits of 21 metres at 3.78 grams per tonne and one metre at 5.9 grams per tonne.

So, it’s not just a one-off hit that Newcrest is buying into, it’s a solid work programme that could be about to yield up a major discovery.

And it’s certainly in the right area for that. Greatland’s land package at Havieron isn’t held in isolation. All around, other gold miners are busy exploring what looks to be an emerging new district at Paterson, in Western Australia. Forty-five kilometres to the west lies Newcrest’s own Telfer mine, and both Greatland and Newcrest have been quite explicit that if ore comes up out of the ground at Havieron it will be destined for processing at Telfer.

That’s a significant distance to truck ore, but such arrangements are not particularly uncommon in the industry, and the overall savings on the construction of a new plant at Havieron could run to hundreds of millions of dollars.

Newcrest, as the most powerful player in the region, is thus making a US$65mln claim to what could be the next big mine in Paterson, and it knows exactly what it wants to do with it.

In that sense, it is at least one step ahead of its rivals in Paterson, of whom there are many. A staking rush has gradually gathered steam over the past 24 months or so, and has led the likes of Rio Tinto PLC  (LON:RIO), Sipa Resources Limited (ASX:SRI), Fortescue, Antipa and Red Metal into the area.

Aside from Telfer, which is up and running, there are several advanced prospects in Paterson, particularly on ground held by Antipa, or in joint venture between Antipa and Rio, where the exploration spend is rumoured to run to extremely high levels.

But the addition of Havieron to the list shifts the centre of gravity at Paterson over to the south-east. The Greatland exploration blocks were previously thought to be on the edge of the prospective area, but no longer. Newcrest hasn’t only joint ventured the block containing Greatland’s 275-metre hit, it has also joint ventured 11 others held by Greatland, and obtained a right of first refusal over others.

This confirms Newcrest as a significant player in the ongoing development of the Paterson region, more than holding its own against larger rival Rio Tinto.

READ: Greatland Gold gains as Primorus Investments ups its holding in the gold explorer to around 1.1%

The likelihood now is that Newcrest drill rigs will mobilise rapidly at Havieron in an endeavour to replicate Greatland’s own drilling success. That, in turn, is likely to lead to some interesting newsflow that already has Greatland shareholders salivating.

"This farm-in has, in my opinion, the potential to open up the entire Havieron region to commercial mining in a time frame and cost that stand-alone operations could never compete  with," said Alastair Clayton, executive director of Primorus Investments PLC (LON:PRIM), which owns around 1.1% of Greatland’s shares.

Clayton has been involved in the capital markets and mining finance for many years now, and he knows a good thing when he sees it.

Newcrest’s chief development officer, Michael Nossal, would tend to agree.

“It is becoming more and more evident that the Paterson region is highly prospective for under-cover discoveries,” he said.

 

 

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Wed, 13 Mar 2019 12:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216387/greatland-golds-us65mln-joint-venture-deal-is-just-the-latest-in-an-ongoing-rush-into-the-gold-bearing-riches-of-paterson-216387.html
<![CDATA[RNS press release - Update on Investment in Greatland Gold PLC ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190312130347_13999339/ Wed, 13 Mar 2019 00:03:47 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190312130347_13999339/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190312090523_13998773/ Tue, 12 Mar 2019 20:05:23 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190312090523_13998773/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190312090020_13998758/ Tue, 12 Mar 2019 20:00:20 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190312090020_13998758/ <![CDATA[RNS press release - US$65m Farm-In Agreement with Newcrest at Havieron ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190312070011_13998113/ Tue, 12 Mar 2019 18:00:11 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190312070011_13998113/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190304092712_13988831/ Mon, 04 Mar 2019 20:27:12 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190304092712_13988831/ <![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190304070008_13988261/ Mon, 04 Mar 2019 18:00:08 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190304070008_13988261/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190228070006_13984389/ Thu, 28 Feb 2019 18:00:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190228070006_13984389/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190206164031_13960841/ Thu, 07 Feb 2019 03:40:31 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190206164031_13960841/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190206163540_13960835/ Thu, 07 Feb 2019 03:35:40 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190206163540_13960835/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190205110540_13958813/ Tue, 05 Feb 2019 22:05:40 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190205110540_13958813/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190205110033_13958795/ Tue, 05 Feb 2019 22:00:33 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190205110033_13958795/ <![CDATA[RNS press release - Results from Second Drill Campaign at Havieron ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190205084226_13958482/ Tue, 05 Feb 2019 19:42:26 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190205084226_13958482/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190131090002_13953335/ Thu, 31 Jan 2019 20:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190131090002_13953335/ <![CDATA[RNS press release - Block Listing Application ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190114120839_13933778/ Mon, 14 Jan 2019 23:08:39 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190114120839_13933778/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190110110035_13930559/ Thu, 10 Jan 2019 22:00:35 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20190110110035_13930559/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181204095750_13890582/ Tue, 04 Dec 2018 20:57:50 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181204095750_13890582/ <![CDATA[RNS press release - Havieron Project - Drilling Update ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181204070012_13889909/ Tue, 04 Dec 2018 18:00:12 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181204070012_13889909/ <![CDATA[RNS press release - Havieron - Results of New Geophysical Models ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181127093004_13881706/ Tue, 27 Nov 2018 20:30:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181127093004_13881706/ <![CDATA[News - Greatland’s stunning gold-copper intercept at Havieron is the kind that deals are made on ]]> https://www.proactiveinvestors.com.au/companies/news/209746/greatlands-stunning-gold-copper-intercept-at-havieron-is-the-kind-that-deals-are-made-on-209746.html It was no surprise that shares in Greatland Gold PLC (LON:GGP) jumped on news of a 275-metre intercept at the Havieron project that returned grades of 4.77 grams per tonne gold and 0.61% copper.

The initial 70% uptick to 1.72p was perhaps inevitably followed by a bout of profit taking, and the shares then fell away slightly to 1.63p.

But there could be more excitement to come, much more, as interest builds in Australia and punters start to wonder what it all means.

Intercepts of that quality don’t come along every day, and it’s no coincidence that Greatland’s results have got the industry talking and have received mainstream media attention in Australia over the past few days.

Much of the Australian commentary on the Havieron results is also dwelling on ongoing rumours that Rio Tinto has unearthed a major new copper discovery in a similar area of the Pilbara to the northwest of Greatland, something which has been a hot topic of conversation in West Perth for weeks.

It’s an area that’s already been well staked by companies, including Greatland, Rio Tinto (LON:RIO), Antipa (ASX:AZY), Newcrest (ASX:NCM) and Sipa amongst others. Newcrest is already mining at the Telfer gold mine to the west, and Greatland has in the past described the prospectivity of Havieron in terms of finding Telfer-style projects.

Meanwhile, Rio has built an exploration camp on its ground 150 kilometres north-northwest of Telfer and has been staking up more ground. It’s also locked in a deal with Antipa to secure a 75% stake in the Citadel project.

Now one of Australia’s most famous mining entrepreneurs, Andrew Forrest, is getting in on the act. His company, Fortescue Metals, recently pegged a big ground position in the area.

Not surprisingly, local speculation is abuzz that a new mining district is opening up within the already prolific Pilbara.

Into this heady mix now steps Greatland with a world-class intercept that could well be the first of many. What’s special about the Greatland result isn’t just the grade and width. It’s also that the hole ended in mineralisation.

That conceivably means that the same hole, if twinned but drilled deeper, would return even more mineralisation a second time around.

Such a hole is unlikely at this stage of the game though, as Greatland is instead now bent on drilling more holes into Havieron to see just what sort of intercepts come back from the wider area.

With the intercept at Havieron already banked, Greatland already has skin in the wider chess game that’s now developing around the district. Naysayers will point to the depth as a negative factor, but with Newcrest and Rio Tinto circling, that’s unlikely to be the deciding factor.

For major companies like that, depths of 400 metres-plus aren’t necessarily off-putting at all. Rather 275 metres of highly mineralised ore represents a real advertisement in the shop window, and it wouldn’t be surprising if before too long one major or another appeared on the Greatland share register in quite a significant way, as well as tying up a deal at the project level too.

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Thu, 22 Nov 2018 08:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209746/greatlands-stunning-gold-copper-intercept-at-havieron-is-the-kind-that-deals-are-made-on-209746.html
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181121090554_13875306/ Wed, 21 Nov 2018 20:05:54 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181121090554_13875306/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181121090042_13875285/ Wed, 21 Nov 2018 20:00:42 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181121090042_13875285/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181120140519_13873873/ Wed, 21 Nov 2018 01:05:19 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181120140519_13873873/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181120140013_13873864/ Wed, 21 Nov 2018 01:00:13 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181120140013_13873864/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181119090607_13871638/ Mon, 19 Nov 2018 20:06:07 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181119090607_13871638/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181119090029_13871627/ Mon, 19 Nov 2018 20:00:29 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181119090029_13871627/ <![CDATA[RNS press release - Results from First Drill Hole at Havieron ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181119070005_13870988/ Mon, 19 Nov 2018 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181119070005_13870988/ <![CDATA[RNS press release - Notice of AGM and Annual Report ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181106085715_13856454/ Tue, 06 Nov 2018 19:57:15 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181106085715_13856454/ <![CDATA[RNS press release - Replacement - Final Results ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181101090031_13851060/ Thu, 01 Nov 2018 20:00:31 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181101090031_13851060/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181101082606_13851020/ Thu, 01 Nov 2018 19:26:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181101082606_13851020/ <![CDATA[RNS press release - Large New Geophysical Target at Saddle Reefs ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181029091348_13845732/ Mon, 29 Oct 2018 20:13:48 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181029091348_13845732/ <![CDATA[RNS press release - Paterson Project - Scallywag Target's MMI Results ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181023095017_13838891/ Tue, 23 Oct 2018 19:50:17 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181023095017_13838891/ <![CDATA[RNS press release - Non-Executive Director Appointment ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181015095258_13828641/ Mon, 15 Oct 2018 19:52:58 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181015095258_13828641/ <![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181008105536_13820101/ Mon, 08 Oct 2018 20:55:36 +1100 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181008105536_13820101/ <![CDATA[RNS press release - Havieron Project - Drilling Update ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181001082634_13810676/ Mon, 01 Oct 2018 17:26:34 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20181001082634_13810676/ <![CDATA[RNS press release - Ernest Giles Project - Meadows Drilling Campaign ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180927115945_13807273/ Thu, 27 Sep 2018 20:59:45 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180927115945_13807273/ <![CDATA[RNS press release - Greatland Commences Second Drilling Programme ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180917070006_13792265/ Mon, 17 Sep 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180917070006_13792265/ <![CDATA[RNS press release - Grant of Options ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180907101235_13782956/ Fri, 07 Sep 2018 19:12:35 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180907101235_13782956/ <![CDATA[RNS press release - High Grade Gold Detected in Samples at Black Hills ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180904094627_13778025/ Tue, 04 Sep 2018 18:46:27 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180904094627_13778025/ <![CDATA[RNS press release - Second Drilling Programme at Havieron ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180903100254_13776342/ Mon, 03 Sep 2018 19:02:54 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180903100254_13776342/ <![CDATA[RNS press release - Update on Ernest Giles Drilling Campaign ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180903092009_13776224/ Mon, 03 Sep 2018 18:20:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180903092009_13776224/ <![CDATA[RNS press release - Greatland Identifies Large Gold Target ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180820083945_13761065/ Mon, 20 Aug 2018 17:39:45 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180820083945_13761065/ <![CDATA[RNS press release - Greatland Launches Third Exploration Programme ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180813084903_13752783/ Mon, 13 Aug 2018 17:49:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180813084903_13752783/ <![CDATA[RNS press release - Issue of Equity ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180727115423_13734435/ Fri, 27 Jul 2018 20:54:23 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180727115423_13734435/ <![CDATA[News - Greatland Gold raises £2.65mln to accelerate Havieron and Black Hills projects ]]> https://www.proactiveinvestors.com.au/companies/news/201741/greatland-gold-raises-265mln-to-accelerate-havieron-and-black-hills-projects-201741.html Greatland Gold PLC (LON:GGP) has raised £2.65mln of new ‘strategic’ financing to allow an acceleration of exploration efforts at the Havieron and Black Hills prospects in Australia.

It is issuing some 212mln new shares priced at 1.25p each.

WATCH: Greatland Gold raises £2.65mln to advance Havieron and Black Hills exploration

With the completion of the funding, Greatland will increase its cash balance to £6mln (over A$10mln).

"The funds raised will strengthen our capacity to accelerate exploration at both the Havieron and Black Hills targets following our excellent exploration results in recent months,” said Gervaise Heddle, Greatland chief executive.

"We are delighted to get new investment into the Company and I would like to thank our new and existing shareholders for their support.

Heddle added: “It has been a fruitful year to date for Greatland and the additional funds raised will allow us to devote more resources to the Paterson region whilst continuing with our planned work at our other projects.

“We look forward to updating the market on our progress."

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Fri, 27 Jul 2018 12:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201741/greatland-gold-raises-265mln-to-accelerate-havieron-and-black-hills-projects-201741.html
<![CDATA[Media files - Greatland Gold in the 'strongest position it's ever been' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9918/greatland-gold-in-the-strongest-position-it-s-ever-been--9918.html Fri, 20 Jul 2018 11:22:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9918/greatland-gold-in-the-strongest-position-it-s-ever-been--9918.html <![CDATA[RNS press release - Business & Operational Update ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180719103811_13724177/ Thu, 19 Jul 2018 19:38:11 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180719103811_13724177/ <![CDATA[News - Progress at Havieron, Black Hills and Ernest Giles leaves Greatland Gold in ‘strongest position ever’ ]]> https://www.proactiveinvestors.com.au/companies/news/201139/progress-at-havieron-black-hills-and-ernest-giles-leaves-greatland-gold-in-strongest-position-ever-201139.html Greatland Gold PLC (LON:GGP) is in the “strongest position it has ever been” according to the explorer’s chief executive, Gervaise Heddle.

The AIM-quoted firm embarked on successful exploration programmes at the Havieron and Black Hills licences in Western Australia in the first half, while last month it kicked off a major drilling campaign at Ernest Giles, also in Western Australia.

READ: Greatland recovers more gold pieces at Black Hills

The plan now is to follow up the initial results at Havieron and Black Hills with new drill programmes which are slated to begin over the next couple of weeks.

As for Ernest Giles, the drilling it started last month is ahead of schedule and further exploration plans will be announced once the results are received and assessed.

READ: Greatland sees “exceptional” results from Havieron drill campaign

In terms of finances, Greatland ended the first half with £3.5mln of cash and no debt.

‘Multi-million ounce potential’

“Greatland is in the strongest position it has ever been following this year's successful exploration campaigns at both Havieron and Black Hills,” said CEO Heddle in today’s update.

“Both projects were acquired within the last two years and demonstrate the successful execution of Greatland's acquisition and exploration strategy during that time.”

He added: “We believe that Black Hills, Havieron and Ernest Giles have the potential to host multi-million ounce deposits and we look forward to updating investors on our progress as we seek to build on the success of the first half.”

 

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Thu, 19 Jul 2018 11:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201139/progress-at-havieron-black-hills-and-ernest-giles-leaves-greatland-gold-in-strongest-position-ever-201139.html
<![CDATA[RNS press release - Black Hills Update ]]> https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180717085449_13720452/ Tue, 17 Jul 2018 17:54:49 +1000 https://www.proactiveinvestors.com.au/companies/rns/404/LSE20180717085449_13720452/