Greatland Gold PLC (AIM:GGP, OTC:GRLGF) has poured its first gold from the Telfer mine in Western Australia just five days after its acquisition from US giant Newmont.
Shaun Day, managing director, commented: "Greatland's first ever gold production at Telfer is a wonderful milestone and a credit to our team.
“Equally importantly, we are delighted to have resumed dual train processing operations in line with our Telfer mine plan.
“The combination of a strong gold price and significant ore stockpiles at surface makes this a tremendous time to own the Telfer mine."
An estimated 30.5Mt to 34.5Mt of stockpiles were acquired by Greatland on completion.
The stockpiles include an estimated 11.5Mt of high-grade run-of-mine grade ore stockpiles, plus a further estimated 19.0 to 23.0Mt of low-grade stockpiles.
Mining is continuing in the West Dome open pit and Main Dome underground, said Greatland, which added it had also purchased put options for 50,000 ounces of Telfer gold production volumes, completing a 150,000oz hedging program with an average strike price of A$3,905.17 per oz.