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Greatland Gold says drilling at Havieron confirms world class potential

Last updated: 08:03 05 Mar 2024 GMT, First published: 15:23 15 Dec 2020 GMT

Snapshot

  • Greatland Gold 'fully committed' to Havieron after Newmont move
  • Mining 101: The secrets of geological anaomalies
  • Berenberg reiterates 'Buy' rating on Greatland Gold following recent key funding and board strengthening news
  • Greatland Gold discusses updated Havieron resource and reserve estimate from JV partner Newmont
Newcrest Mining -

About the company

Greatland Gold PLC is a mining development and exploration company focused primarily on precious and base metals.

The company’s flagship asset is the world-class Havieron gold-copper project in the Paterson Province of Western Australia, discovered by Greatland and presently under development in a joint venture with Newmont.

How it is doing

05 Mar 2024

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said that it remains fully committed to delivering the potential of the Havieron gold deposit at Paterson in Western Australia having been the company that made the discovery.

In February, Greatland’s joint venture partner Newmont put its 70% stake up for sale along with the nearby Telfer mine, which is seen as a likely recipient of ore from Havieron.

In a statement with its half-year results, Greatland reiterated that under their agreement it holds a right of last refusal in respect of a sale by Newmont of its joint venture interest in Havieron to a third party.

Newmont also assumed management of the Juri joint venture, again in the Paterson region near Havieron, last July since when Greatland has been focused on the 100% tenements it owns at Scallywag, Canning, Ernest Giles and Panorama.

22 Feb 2024

Greatland Gold has welcomed the reserve estimate published today by Newmont Corporation (NYSE:NEM, TSX:NGT, ASX:NEM, ETR:NMM), its joint venture partner in the Havieron gold-copper project, which it said closely matched its figure for indicated resources.

Variances in the inferred mineral resource category largely reflect differences between the reporting criteria under JORC Australian reporting standards, which Greatland uses, and the US code under which Newmont reports.

08 Feb 2024

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said it has completed the drilling program co-funded by the Western Australia Government Exploration Incentive Scheme (EIS) at the Meadows gold target on its Ernest Giles project.

Two diamond core (DD) holes covered 1,267.7 metres (m) in total with anomalous mineralisation of 8m at 0.12 grammes per tonne (g/t) gold from 316m returned from one hole (EGD006), associated with alteration and anomalous pathfinder geochemistry.

Insight: Mining 101: The secrets of geological anaomalies

03 Nov 2023

The detection of a geological anomaly stands as one of the most thrilling prospects in the mining sector. It’s akin to finding the ‘X’ on a treasure map, indicating something extraordinary, something that deviates from the geological norm.

Anomalies are often unveiled through cutting-edge exploration technologies such as aeromagnetic surveys, electrical resistivity, and seismic reflections, painting a picture of what lies beneath the Earth’s surface without the need for immediate excavation.

What the brokers say

13 Sep 2022

Analysts at Berenberg have reiterated a 'Buy' rating on Greatland Gold PLC (AIM:GGP, OTC:GRLGF) following recent key funding and board strengthening news plus its plans to list on the Australian Stock Exchange (ASX)

The Berenberg analysts, however, cut their share price target for Greatland Gold to 18.00p from 22.00p to reflect higher dilution than previously expected. In late afternoon trade on Tuesday, Greatland shares were trading at 9.05p, up 0.3% on Monday's close having jumped higher that session when the news was announced.

In a note to clients, the Berenberg analysts said: "Greatland Gold has, in our view, materially strengthened its board with the appointments of Mark Barnaba, Elizabeth Gaines and James Wilson. Mark Barnaba is deputy chair of Fortescue Metals and will join as non-executive chair, while Elizabeth Gaines was CEO of Fortescue and will join as a non-executive director and deputy chair, and James Wilson was previously president of BHP’s iron ore division."

What management says

22 Feb 2024

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) managing director Shaun Day joined Proactive's Stephen Gunnion to discuss an updated Reserve and Resource for the Havieron gold-copper project released by joint venture partner Newmont.

Newmont’s update includes 4.9 million gold equivalent ounces in the Indicated Mineral Resource category, closely aligning with Greatland Gold's estimate of 5 million ounces.

Day discussed the differences in reporting standards between Greatland's JORC code and Newmont's SK-1300, and the resulting differences between Greatland’s and Newmont’s reserve and resource estimates.

Greatland Gold discusses updated Havieron resource and reserve estimate from...

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) managing director Shaun Day joined Proactive's Stephen Gunnion to discuss an updated Reserve and Resource for the Havieron gold-copper project released by joint venture partner Newmont. Newmont’s update includes 4.9 million gold equivalent ounces in the...

on 22/2/24