Greatland Gold PLC (LON:GGP) is in the “strongest position it has ever been” according to the explorer’s chief executive, Gervaise Heddle.
The AIM-quoted firm embarked on successful exploration programmes at the Havieron and Black Hills licences in Western Australia in the first half, while last month it kicked off a major drilling campaign at Ernest Giles, also in Western Australia.
READ: Greatland recovers more gold pieces at Black Hills
The plan now is to follow up the initial results at Havieron and Black Hills with new drill programmes which are slated to begin over the next couple of weeks.
As for Ernest Giles, the drilling it started last month is ahead of schedule and further exploration plans will be announced once the results are received and assessed.
READ: Greatland sees “exceptional” results from Havieron drill campaign
In terms of finances, Greatland ended the first half with £3.5mln of cash and no debt.
‘Multi-million ounce potential’
“Greatland is in the strongest position it has ever been following this year's successful exploration campaigns at both Havieron and Black Hills,” said CEO Heddle in today’s update.
“Both projects were acquired within the last two years and demonstrate the successful execution of Greatland's acquisition and exploration strategy during that time.”
He added: “We believe that Black Hills, Havieron and Ernest Giles have the potential to host multi-million ounce deposits and we look forward to updating investors on our progress as we seek to build on the success of the first half.”