Greatland Gold PLC (AIM:GGP, OTC:GRLGF) has completed the acquisition of the Havieron and Telfer projects in Pilbara, Western Australia, three months after agreeing the US$475 million deal with US giant Newmont.
Ownership transferred to Greatland with effect from 8:00 am Wednesday 4 December 2024.
Shaun Day, Greatland’s managing director, commented: "The closing of our acquisition today is a watershed moment for Greatland.
"Greatland's discovery of the world-class Havieron orebody in 2018 established our platform for growth.
“Returning to 100% ownership of Havieron now gives us the opportunity and control to deliver the project's full potential.
“We have a defined pathway for Havieron to become a low-cost, long-life gold-copper asset of significant scale.
"Telfer is an iconic Australian mine that immediately transforms Greatland into a significant producer of gold and copper, with a defined mine plan that is materially de-risked by substantial ore stockpiles, and significant mine life extension prospects.
“Telfer production is expected to generate significant free cash flow, which we expect will help to self-fund the completion of Havieron's development.
"Combining Havieron and Telfer under our single ownership provides the opportunity to operate efficiently and deliver an exceptional platform for continued growth and a compelling opportunity to create value for our shareholders.”