Greatland Gold starts drilling at Ernest Giles following land access agreement
Ernest Giles lies within the highly mineralised Yilgarn Craton of Western Australia
Company
LON:GGP
Greatland Resources is a new leading Australian gold and copper producer, operating the Telfer gold mine, one of Australia’s largest gold-copper mining complexes. The company is concurrently developing the nearby world-class Havieron gold-copper project and exploring across a significant regional portfolio.
621 stories · page 2 of 7
Ernest Giles lies within the highly mineralised Yilgarn Craton of Western Australia
Water management has indicated the potential for greater volumes of water to be managed at surface than originally modelled
Development is now approaching the lower and final aquifer that lies at the base of the Permian cover
The area has potential for Havieron and Telfer-style precious and base metals deposits
"We believe we can achieve a better outcome for existing shareholders"
Archive
SP Angel . Morning View . Wednesday 08 03 23Copper weakens on stronger dollar and lower Chinese imports in January and FebruaryMiFID II exempt information – see disclaimer below LON:AAL – De Beers - Second sales cycle of the year sees conti
Bismuth was widely present, which is an important gold-copper mineralisation pathfinder, the company said
Drilling in 2023 will focus on infilling in the South Crescent Zone
Greatland has a 30% stake in Havieron, in Western Australia, with its partner Newcrest owning 70%
"The growth drilling programme at Havieron continues to deliver outstanding results,” said Greatland managing director Shaun Day
Ernest Giles is in one of the most highly mineralised areas in the world and home to numerous gold deposits, said managing director Shaun Day
It is available to view on the mining developer and explorer’s website
The German bank's analysts said they "view the board appointments, debt and investment by Wyloo as material as they bring in a heavyweight partner and put in place a comprehensive funding package for the company’s share of Havieron"
In spite of the share price ups and downs, Greatland remains one of the outstanding junior mining success stories of the past decade
The fact the financing was arranged prior to the completion of the DFS at Havieron underlines the quality of the project
Greatland said it plans to undertake a cross-listing on the Australian Securities Exchange
Partner Newcrest currently has six rigs operating at the site
The placing represented a 15.5% discount to Tuesday’s closing price and were only offered to UK 'qualified investors'
The company expects the world-class, low-cost development to be fast-tracked to commercial production
Greatland said the sum does not “represent a true market value for Havieron”
Newcrest Mining now has a 70% stake after funding an extensive exploration campaign at Havieron
“In these markets more than ever, to extract the full value from the opportunity we prefer to back the team over the asset every time.”
Greatland Gold's growth drilling program continues to expand the mineralised system at the Havieron gold-copper project in Western Australia.
Drilling in the South East Crescent has extended the high-grade zone a further 100 metres below the March 2022 resource estimate
Greatland's nearby Havieron project is one of the most significant Australian gold discoveries in recent years
Greatland has a significant track record of exploration success in the region
It is a "natural step as Greatland evolves from an explorer to developer and to becoming a multi-commodity producer"
These broad high-grade intersections are positive as they demonstrate the continued exploration potential
Newcrest advised that first ore is now expected in the second half of FY24
Greatland has already made a significant discovery elsewhere at Havieron
The discovery of Havieron is the stand-out success in London's junior mining sector over the past few years
"This growth drilling programme is already delivering pleasing results," said chief executive Shaun Day
“We expect further upgrades to the resource and reserve base over time," Canaccord analyst Sam Catalano said in a note.
Newcrest Mining Ltd currently has a 60% interest in the joint venture
Archive
Umicore (LON:UMI) €36.72, Mkt cap €9bn – Results highlight strong performance in automotive, fuel cells and stationary catalysts Umicore shifts focus to nickel as automakers lose lust for cobalt Umicore reported strong sales and EBIT growth
Newcrest also reported that the advancement of the decline at Havieron had been hampered by more challenging ground conditions than expected
This option will lift Newcrest’s total holding in Havieron from 70% to 75%
The latest set of drilling results at Havieron continue to astound, the CEO said
Drilling comprised nine holes for 4,958 m testing six targets
Archive
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you direct to the news and analysis
Aussie giant has given Greatland notice to exercise a 5% option
“We're looking at releasing a sustainability report, which I think, is increasingly important in the market,” said the company's CEO
The Havieron joint venture has now completed a total of 219,561 metres of drilling from 266 holes
An enlarged operation of 3mln/t per year is under consideration said Berenberg.
A selection of this week's stories from the miners listed in London
The size fo the placing was raised by 60% due to strong demand for the shares
Archive
A glance at some of the day's highlights from the Proactive Newswire.
Outside of Havieron, Berenberg noted that Greatland has over 1,000km2 of exploration holdings in the Paterson region
Greatland announced a maiden resource of 3.4 million ounces of gold and 160,000 tonnes of copper at Havieron in December 2020 and expects to upgrade this estimate in the near-term
Geologists say the two new areas share similar magnetic and gravity anomaly characteristics with Havieron
There's already an inferred resource of 4.4mln ounces at Havieron, but could there be more?
"It speaks volumes for the tremendous quality of Havieron that after reaching a milestone of 200,000 metres of drilling, the best gram metre intercept ever drilled was just delivered"
"Advancing to Stage 2 of the Juri JV marks an important step forward which further demonstrates the confidence and financial commitment of our partner Newcrest,” said Greatland chief executive Shaun Day
Archive
Ariana Resources (LON:AAU) – Apliki copper mine development agreement BlueRock Diamonds (LON:BRD) – Record production in Q3 ahead of expected step change in Q4 Chaarat Gold (LON:CGH) – Kyzyltash 2021 drilling programme completed with metall
Significant expansion potential remains, with further drilling planned
How the economics of Havieron dovetail with the economics of Telfer will be the key question the pre-feasibility study will be addressing
Archive
ASOS, Dunelm, Domino’s Pizza, Marston’s, Barratt Developments and National Express are also on the schedule
In July, broker Berenberg predicted that in light of the recent drill results the current resource at Havieron would be materially expanded
Archive
A snapshot of the stories on the Proactive website today
“We consider these licences significant and exciting additions to our growth portfolio," said Shaun Day
Some of the week's mining and metals stories covered by Proactive
A snap of some of the stories on the Proactive site today
Archive
Revenue came in at $48.1m (H1/20: $29.9m) reflecting stronger price environment for precious and base metals during the period as well as stronger contribution from processing of 3rd party material ($11.1 v nil in H1/20). Kapan produced a t
Exploration activities at Havieron are operated by Newcrest Mining Ltd under a joint venture agreement with Greatland
Results from the remaining drill holes at Los Diablos, Parlay and Saddle Reef and sections of the Outamind are expected next month.
Greatland's flagship asset, the world-class Havieron gold-copper deposit, is also in the Paterson region
Callum Baxter was also appointed to the Technical Advisory Committee
The drilling is focused on a number of high-priority targets in ground adjacent to the Havieron joint venture project
“To appoint someone of Otto's calibre and skillset in this newly created role is a significant addition to the company and reflects the scale of the opportunity ahead,” said CEO Shaun Day
Greatland is currently capitalised at around £750mln
Seven new drill holes have all intersected significant mineralisation
The world class Havieron gold-copper deposit in the Paterson region of Western Australia is Greatland’s flagship asset
Havieron is one of the mining industry's most noteworthy discoveries in years
"Greatland stands out to us as a differentiated player, with a significant stake in what we believe will become a large scale, top-tier asset,” the broker said alongside a new 'Speculative Buy' recommendation.