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(Sharecast News) - Greatland Resources reported strong quarterly production and a significant increase in cash on Wednesday, supported by robust gold sales and continued operational resilience.
The AIM-traded miner said it produced 82,723 ounces of gold and 4,128 tonnes of copper in the March quarter, taking year-to-date output to 249,887 ounces of gold and 11,022 tonnes of copper.
Gold sales for the quarter totalled 97,800 ounces, alongside 4,620 tonnes of copper, with year-to-date sales of 252,212 ounces and 10,333 tonnes respectively.
Cash as at 31 March rose to $1.21bn, up from $948m at the end of December, representing a $260m increase during the quarter after capital expenditure and a $73m tax payment related to the 2025 financial year.
The company said it would start making regular cash tax instalments from April, and continued to operate with no debt.
Greatland said it retained full upside exposure to gold prices, while maintaining partial downside protection through put options.
It added that all-in sustaining costs for the quarter would be disclosed in its full quarterly report later in April.
The group said it was monitoring potential supply chain and cost risks linked to the conflict in the Middle East but noted no current disruption to operations at its Telfer mine.
Fuel was supplied under a long-term contract via Port Hedland, while power was generated onsite using natural gas delivered through the Pilbara Pipeline System.
The company also highlighted that its underground operations used an electric shaft hoist, reducing diesel reliance.
At the end of March, Telfer held surface stockpiles of about 22 million tonnes at 0.36 grams of gold per tonne and 0.05% copper, equivalent to more than 12 months of mill feed.
Greatland said it expected full-year production for the 2026 period to be around, or slightly above, the upper end of its guidance range of 260,000 to 310,000 ounces of gold.
At 1137 BST, shares in Greatland Resources were up 15.17% at 767.63p.
Reporting by Josh White for Sharecast.com.
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