Greatland Resources (GGP) Diggers & Dealers Mining Forum 2025 summary

Strategic Overview and Recent Performance

• Achieved 198,000–198,300 ounces of gold production in the first seven months/FY25, generating over $600 million in free cash flow and ending FY 2025 debt-free with $575 million in cash.

• FY 2026 guidance targets 260,000–310,000 ounces of gold at an all-in sustaining cost of $2,400–$2,800/oz, with $230–260 million growth capex planned for Telfer.

• Group mineral resources as of December 2024 are 10.2 million ounces of gold and 387,000 tons of copper.

• Over 240,000 m of resource development drilling planned using eight rigs, marking the largest campaign in Telfer’s history.

• Now a 100% owner of both Telfer and Havieron, with a focus on gold-copper production in Western Australia.

Asset History and Development

• Telfer evolved from a 1970s discovery to a major gold processing center, with expansions in the 1980s, 1990s, and a new mill and underground shaft in the 2000s.

• Record production in the 2010s, with the west dome open pit established and the Haveron deposit discovered in 2018.

• Havieron development began in 2021, with a decline now at 340 m vertical and 2.1 km completed.

• Full ownership of Telfer and Havieron was acquired in December 2024 for US$450 million.

• Major redevelopment in the 2000s expanded processing capacity to 20Mtpa.

Growth Strategy and Operational Plans

• Focus on integrating Telfer and Haveron as a single site to maximize productivity and extend mine life.

• FY26 is a key investment year, with $230–260 million allocated to Telfer for mine development, infrastructure, and fleet upgrades.

• Largest drilling campaign in Telfer’s history planned for FY26, with 240 km targeting resource extensions and conversions.

• Havieron feasibility study targeted for completion in December 2025, assessing ramp-up from 2.8Mtpa to 4.0–4.5Mtpa mining rates.

• Exploration and regional growth opportunities in the Paterson region are a strategic focus.