Greatland Gold PLC (LON:GGP) finished the six months to December 2018 with approximately £4mln in cash.
This money will be used to continue with exploration work across the company’s Australian assets, including follow-up work on Havieron, where Greatland drilled a world-class intercept of 275 metres grading 4.77grams gold and 0.61% copper.
WATCH: Greatland Gold's Havieron has potential to be multi-commodity project of 'significant scale'
Work on the Black Hills, Ernest Giles and Firetower projects will also continue.
"It has been a very significant first half of the year for Greatland, characterised by strong progress across our key projects,” said chief executive Gervaise Heddle.
“Most notably, we recorded exceptional drilling results in the Paterson, making clear the potential for Havieron to become a large-scale underground mining operation. We have also added financial stability through a successful fundraising and the company is well capitalised to sustain our momentum in the second half of the year.
He added that Greatland might be on the look-out for more assets too, with the potential to become “large multi-million ounce deposits.”
Drilling at Havieron will recommence shortly.