Shares in Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, ASX:GGP) climbed 6% after the miner reported robust production figures and a stronger cash position for the September quarter, while keeping its full-year guidance unchanged.
The company produced 80,890 ounces of gold and 3,366 tonnes of copper in the three months to September, with sales slightly higher at 82,199 ounces of gold and 3,277 tonnes of copper.
It said costs were expected to come in at the lower end of its full-year forecast range of $2,400 to $2,800 per ounce of gold.
Greatland ended the quarter with $750 million in cash and no debt, up from $575 million in June, a $175 million increase even after capital spending.
The company described the result as evidence of operational strength and capital discipline.
Full quarterly results will be published on 27 October, when management will host a webcast to discuss the update. In Australian trading, shares earlier rose as much as 10% to $8.35 before easing back.
In London, the stock was up 23.9p at 397.9p.