Australia Mining9 Dec 2024 23:34
Greatland delivered its first gold bars on December 4, just days after the company finalised its acquisition of Telfer and the nearby Havieron project from Newmont.
Prior to the acquisition, Telfer’s processing operations were limited to one of the two 10-million-tonne-per-annum (Mtpa) processing trains to preserve ore for Greatland’s post-acquisition use.
The company resumed dual-train processing after the transaction, significantly boosting operational capacity.
Greatland inherited an estimated 30.5 to 34.5 million tonnes of stockpiles, including approximately 11.5 million tonnes of high-grade ore, with mining activities ongoing in the west dome open pit and main dome underground.
Greatland’s first-ever gold production at Telfer is a wonderful milestone and a credit to our team,” Greatland Gold managing director Shaun Day said. “Equally importantly, we are delighted to have resumed dual-train processing operations in line with our Telfer mine plan.
“The combination of a strong gold price and significant ore stockpiles at surface makes this a tremendous time to own the Telfer mine.”
In a further development, Greatland has completed a 150,000-ounce hedging program to secure downside price protection.
The program involves gold-put options purchased from ANZ, HSBC, and ING at an average strike price of $3905.17 per ounce.
The hedging program is spread across 2025, with quarterly volumes resulting in the following:
March 31, 2025: 33,996 ounces
June 30, 2025: 46,302 ounces
September 30, 2025: 38,910 ounces
December 31, 2025: 30,792 ounces
https://www.australianmining.com.au/greatland-pours-first-gold-at-telfer/?fbclid=IwZXh0bgNhZW0CMTEAAR2iHuifCpW3eZHvT8PHHnu7Y-5yIsGPpo0tWxaM_hXxFsY6dGXF5egYv6w_aem_t4XhN7OeDpjzAT-srIYNAQ