Proactive Investors - Run By Investors For Investors

Greatland Gold boss confident about Ernest Giles potential despite Newmont decision

A new anomaly near to the Meadows target is an outstanding prospect believes Heddle.
gold and dollars
Ernest Giles remains an 'outstanding prospect'

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.

WATCH: Greatland Gold in a 'terrific position' after multiple new targets identified at Ernest Giles

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’.

View full GGP profile View Profile

Greatland Gold PLC Timeline

Related Articles

Shanta Gold
December 05 2018
Shanta expects production to top 100,000 ounces of gold a year once its Singida project in Tanzania comes on stream in 2020
November 21 2018
On Wednesday, the group reached a permit milestone at its La Fortuna gold project in Durango state
Thor Explorations' Segilola high grade pit offers strong return on investment
June 12 2018
The 100% owned project sits on a 27 sq km exploration licence containing a 17 sq km mining licence

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use