Argonaut30 Jul 2025 18:12
GGP’s 4QFY25 result was mixed, with weaker gold production offset by in line gold sales and higher copper output vs our estimates. This enabled GGP to report a material beat in AISC and deliver cash generation in line with our estimates. Guidance for FY26 was downgraded, with gold production lowered 9-13% to 260-310koz, largely due to a reduction in assumed grade in ore stockpiles. Capex guidance was provided for the first time of A$345-390m, was materially higher than we expected, largely attributable to an accelerated tailings dam lifts at Telfer. Importantly, the higher capex is in our view a clear indication that GGP is confident that the mine life at Telfer can be extended beyond 2030. Incorporating the new guidance data drives downgrades to our production and earnings forecasts for FY26.
https://www.argonaut.com/greatland-resources-ggp-asx-ggp-ln-guidance-cut-hits-near-term-outlook/
PS all this talk of Evolution is tosh imo. There snout was removed from the trough by GGP’s last right of refusal agreement with Newmont. Wyloo ~20% interest would have to be negotiated