Greatland Gold PLC (AIM:GGP, OTC:GRLGF) hailed its transformational year as it reported financial results for the year to end June 2021.
During that year, the company evolved from a junior explorer to a mining development and exploration company. It achieved several significant milestones at its flagship Havieron gold-copper asset in Western Australia, including starting construction and surface infrastructure activities, moving it closer to bringing a tier-one gold copper mine into production.
Greatland said it is well positioned to fund its portfolio of projects into the next financial year.
The company’s losses widened to £5.5mln, from £5.1mln in the year-earlier period, on exploration costs and administrative expenses. It has no revenue.
The world-class Havieron deposit in the Paterson region is being developed in a joint venture with Newcrest Mining Ltd, Australia's largest gold producer. Greatland has also entered into a JV with Newcrest on two other Paterson licences, Black Hills and Paterson Range East, known as the Juri JV.
READ: Greatland’s Havieron project could get even bigger, says Berenberg