Gervaise Heddle, Greatland Gold plc’s (LON:GGP) chief executive, remains upbeat over the potential at its Ernest Giles project in Western Australia even though Newmont Mining (NYSE:NYM) decided to walk away.
Speaking to Proactive, Heddle said Newmont’s decision was disappointing and surprising given the strength of the exploration results from the project.
What it does mean, he added, is that Greatland now has 100% of a highly prospective project and has received a 'whole bunch of new information essentially for free'.
In particular, a new anomaly near to the Meadows target is an outstanding prospect believes Heddle.
It is the best data set we have ever had, he said, adding that Newmont’s decision was unfortunate but now Greatland can pursue these good results ‘very aggressively’.
Shares tumbled 57% to 0.92p, which Heddle described as an ‘overreaction’.