Greatland Resources (GGP) Q4 2026 earnings summary

Executive summary

• FY26 gold production reached 329,000 oz, exceeding guidance, with AISC of AUD 2,179/oz, outperforming the guided range, and strong operational and safety performance.

• June quarter delivered 79,100 oz gold and 3,600 t copper at AISC of AUD 2,312/oz, with sales generating AUD 545 million revenue.

• Closed FY26 with AUD 1.3 billion cash, no debt, and executed new debt facilities, providing up to AUD 1.8 billion in liquidity.

• Significant reserve growth at Telfer (+1.1Moz to 1.8Moz), with group reserves doubling to 5.0Moz in 18 months, supporting multi-year mine life.

• Record drilling and exploration spend delivered substantial resource and reserve growth, establishing a robust platform for organic growth.

Financial highlights

• FY26 revenue totaled AUD 545 million from gold and copper sales; average realized gold price AUD 6,468/oz.

• Operating cash flow for the June quarter was AUD 302 million, with a cash build of AUD 81 million.

• FY26 sales: 326,859 oz gold and 14,730 t copper; average realized copper price AUD 14,895/t.

• AISC margin for the quarter was AUD 4,156/oz, or 64%.

• Mining costs increased to AUD 91 million due to higher material movement; processing costs decreased to AUD 71 million.

Outlook and guidance

• FY27 gold production guidance: 260,000–310,000 oz at Telfer, AISC AUD 2,900–3,330/oz, with higher costs expected in the first half.

• Production expected to be second-half weighted due to open pit scheduling and a major shutdown in Q1.

• Growth capital guidance: Havieron AUD 365–435 million, Telfer AUD 315–335 million.

• Exploration and resource development spend: AUD 70–80 million, focused on infill and resource conversion.

• First ore from West Dome Underground expected FY28; Havieron first ore FY29.