Greatland Reports $961M Revenue and $337M Net Profit After Telfer Acquisition

Transformative Acquisition and Market Debut

Greatland Resources Limited (ASX – GGP) has unveiled a striking unaudited preliminary financial report for FY2025, marking its first full year following the acquisition of the Telfer gold-copper mine and consolidation of the Havieron project. The acquisition, completed in December 2024, transformed Greatland from an exploration-focused entity into a substantial Australian gold and copper producer.

Despite owning Telfer for just seven months in FY2025, Greatland generated $961.3 million in revenue at an average gold price of $4,785 per ounce. This translated into a net profit after tax of $337.3 million, a remarkable turnaround from the prior year’s loss, and was supported by strong operational cash flow of $601.1 million and a debt-free balance sheet with $574.7 million in cash and equivalents.

Operational Excellence and Safety Focus

Operationally, Greatland reported significant improvements at Telfer, including a halving of the total recordable injury frequency rate to 6.0 by June 2025, reflecting a renewed safety culture and leadership. Production metrics were equally impressive, with 198,319 ounces of gold and 8,429 tonnes of copper produced at an all-in sustaining cost of $1,849 per ounce of gold, benefiting from enhanced recoveries and efficient processing of acquired stockpiles.

Mine life extension efforts have also borne fruit, with Telfer’s mine life extended to the end of FY27, supported by ongoing resource development drilling and infrastructure investments. This extension provides a solid platform for Greatland’s vision of an integrated Telfer-Havieron mining complex.

Advancing Havieron and Regional Exploration

Greatland is progressing the Havieron gold-copper project’s feasibility study, targeting completion in the December 2025 quarter. The study contemplates a significant expansion in mining rates, leveraging Telfer’s existing processing infrastructure to enable a cost-effective hub-and-spoke regional strategy. Early works at Havieron are advancing, including ventilation shaft construction and environmental permitting.

Beyond Telfer and Havieron, Greatland maintains a robust exploration portfolio across Western Australia’s Paterson Province and other regions, with active drilling programs underway at near-mine and regional targets. The company’s strategic approach includes portfolio optimisation through selective asset sales and joint ventures.

Corporate Milestones and Financial Position

FY2025 also saw Greatland complete a corporate reorganisation, becoming the parent company of the group and successfully listing on the ASX and AIM in June 2025. The IPO raised $490 million, including a significant secondary sell-down by Newmont, which remains a substantial shareholder. The company’s capital structure is strong, with no borrowings at year-end and access to undrawn working capital facilities.

Share-based payments and option surrenders were notable during the year, aligning management and shareholder interests ahead of the ASX listing. The company’s financial statements are currently under audit, with no material changes expected from the preliminary results.