Read the financial statements from GGP. They dig it up, process the ore, extract gold, silver, copper concentrate and sell that output. No selling of gold in the ground.
Just watched it and what Shaun said is exciting for both Telfer and Havieron. The feasibility for Havieron in Dec2025 and the resource update in Mar2026 sound like they’ll both be fantastic.
You need to consider the volume of ore mined from Havieron each year. At around 3million tonnes of ore they’ll line about 250-300k ounces per annum. So no the revenue won’t 5 fold increase but instead the profit margins will improve as they’re getting more gold from less ore.