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Capital Network: Greatland Gold has a suite of exploration assets in Australia

Agreement with a global major: Global major gold miner, Newmont, has recently entered into an agreement with Greatland (GGP.LON) such that Newmont will have access to Greatland’s Ernest Giles gold project for a period of 6 months, and is able to apply their proprietary exploration methods (which, we understand, are ideally suited for identifying large gold systems under cover). Overall, the key point of note for investors is that this commitment from Newmont is a strong validation of the potential exploration upside in Ernest Giles. Typically, global major of this size would be unlikely to be involved in a project unless they saw potential for a large scale resource. News flow from Newmont’s results will be key to Greatland Gold shares over this 6 month period.

Executive summary

Post recent warrant exercises, we estimate the company currently holds ~£750k of cash, with no debt. With the Newmont deal removing immediate spend requirements from the Ernest Giles project, cash drain should be minimal (approximately £40K per month) for at least the next 6 months.

Quick facts: Greatland Gold PLC

Price: 4.845 GBX

AIM:GGP
Market: AIM
Market Cap: £173.32 m
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