IN BRIEF: Greatland fully funded for Havieron as board approves FID

Greatland Resources Ltd - Perth, Australia-based gold and copper miner - Announces the execution of an AUD500 million corporate debt facility deal "with a Tier 1 lending syndicate of ANZ, ING, HSBC, NAB and Westpac." Says it has a net cash position exceeding AUD1.20 billion, and that the debt facility provides significant liquidity for the development of its flagship Havieron gold-copper project. Facility comprises three tranches of AUD250 million, AUD225 million and AUD25 million, respectively. Greatland says its former AUD75 million facility has been cancelled, and its former AUD25 million contingent instrument facility has been refinanced by the new one. Company has a market capitalisation of GBP4.95 billion on AIM.

Also, Greatland says its board has approved the final investment decision to develop Havieron, and that substantive development will commence following the grant of certain secondary environmental approvals. Says its available liquidity exceeds AUD1.70 billion, subject to the second tranche closing, which leaves it fully funded to deliver Havieron's development.

Current stock price: 721.00 pence

12-month change: up from 350.00p at June 23

By Emma Curzon, Alliance News reporter

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