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Highlights

  • Greatland Gold's cash reserves surged by 689.4% YoY, reaching GBP 245.50 million in FY24, due to a successful equity raise worth USD 334 million.
  • The company reduced net losses from GBP 21.10 million in FY23 to GBP 14.90 million in FY24.
  • The company secured AUD 100 million in debt financing from ANZ, HSBC, and ING to support working capital and contingent instruments for growth.

Greatland Gold PLC (LSE:GGP) is an Australia-based mining company that produces, develops, and explores precious and base metals in Western Australia. Greatland’s principal activities consist of developing the Havieron gold-copper project and exploring and evaluating mineral tenements in Australia.

In the financial year 2024 (FY24), Greatland Gold saw a notable improvement in its financial position. Cash reserves increased by 689.4% YoY, from GBP 31.10 million in FY23 to GBP 245.50 million in FY24, largely due to the successful USD 334 million (~GBP 255.3 million) equity raise. This strengthened the company’s financial flexibility, allowing for the funding of the Havieron-Telfer acquisition and future operations.

Additionally, the company reduced net losses from GBP 21.10 million in FY23 to GBP 14.90 million in FY24. This improvement was driven by lower share-based payment expenses (GBP 3.3 million in FY24 compared to GBP 9.8 million in FY23), enhanced operational efficiency, and disciplined cost management.

Recent Business Update

On December 4, 2024, Greatland Gold completed the 100% acquisition of Telfer and Havieron. Within just 27 days of the acquisition, the company exceeded its monthly production target by 33%, producing 29,864oz of gold and 1,189t of copper (33,882oz AuEq). Dual-train processing resumed promptly, with 1,466kt of ore processed and 734kt mined. By December 31, 2024, stockpiles contained 10.9Mt of ROM (247koz Au, 7.6kt Cu) and 24.5Mt of low-grade material (262koz Au, 12.2kt Cu). Additionally, Greatland secured AUD 100 million in debt financing from ANZ, HSBC, and ING to support working capital and contingent instruments.

Company Outlook

Greatland Gold has improved its financial position with a significant capital infusion. It has reduced losses and managed costs efficiently while keeping debt stable. The funding secured for Havieron’s development, and the Telfer acquisition strengthens the company's prospects for long-term sustainable growth, with near-term free cash flow generation from Telfer supporting further expansion efforts.

Top 10 Shareholders

The top 10 shareholders of GGP account for approximately 48.29% of the total shares. Newmont Nol Pty. Limited holds the largest stake with around 20.41%, followed by Wyloo Consolidated Investments Pty. Ltd. with about 8.45% stake.

Stock Information

The stock price of GGP has appreciated by around 13.44 and ~19.46% in the past month and past six months, respectively. The stock’s 52-week low and high spans from GBX 4.95 to GBX 9.70. As of 25 February 2025, the stock’s closing price is GBX 8.10.

Support and Resistance Summary

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 25 February 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.