Greatland Gold PLC (AIM:GGP, OTC:GRLGF) had £14.2mln cash at the end of the six months to December 2021.
The company spent £1.8mln on exploration and evaluation at its Havieron and Juri gold projects in Australia during the period, and £1.1mln on administration costs.
In October, a prefeasibility study was completed on the South-East Crescent.
A total of 219,561 metres of drilling at 266 holes was completed, with all the latest completed holes continuing to intersect mineralisation and 19 reporting significant mineralisation.
A maiden drilling programme was completed at the Juri joint venture on the Paterson Range East and Black Hills tenements.
“We are very pleased with the strides we have taken in the first six months of the year as we continued to deliver outstanding progress at Havieron, ensured the company remained well capitalised to accelerate exploration activities and built up of the breadth and capability of the Greatland management team and board,” said Shaun Day, chief executive of Greatland Gold.
“At Havieron, our joint venture with Newcrest released the stage 1 prefeasibility study. The study revealed that a segment of the initial resource covers the total capex of the project, supporting Greatland's belief that the profile of Havieron makes it a globally unique opportunity for bringing a low risk, low capex tier-one gold-copper mine into production. In addition, the rapid development and growth potential at Havieron was demonstrated by the recently released mineral resource and reserve update which, in only 10 months of further drilling, added more than 50% in total gold content.”
A feasibility study is due at Havieron by the December 2022 quarter.