RE: RNS14 Apr 2025 07:05
§ Operations
‒ Production of 90,172oz of gold (Au) and 3,511t of copper (Cu) at an all-in-sustaining-cost (AISC)1 of A$2,126/oz Au.
§ Gold production was 21% higher, and AISC lower than Greatland's initial pre-acquisition mine plan (Pre-Acquisition Plan) quarterly average (74,800oz at A$2,203 AISC).
‒ Significantly improved gold recoveries of 86.7% (compared to assumed average gold recoveries of 78% in the Pre-Acquisition Plan). Continued optimisation of processing remains a key focus.
‒ New West Dome Open Pit mining area, Stage 7 Cutback, was approved and commenced mining.
‒ Greatland's first major dual train planned maintenance of the processing plant was successfully completed in late March to early April.
‒ No Lost Time Injuries during the quarter, 12-month Lost Time Injury Frequency Rate (LTIFR) at quarter end was 0.
§ Corporate
‒ Sales of 89,125oz Au and 3,705t Cu at weighted average realised prices of A$4,585/oz gold and A$13,140/t copper, generating revenue of A$458m.
‒ Free cash flow of A$253m and A$398m cash balance at 31 March 2025 (A$145.0m at 31 December 2024).
‒ Debt free with undrawn A$75m working capital facility.
‒ Full upside exposure to the gold price, with downside price protection provided from gold put options at A$3,905/oz (CY25) and A$4,200/oz (CY26).
‒ ASX / AIM cross-listing targeted for June 2025.
§ FY25 guidance
‒ Guidance for FY25:
§ Gold production: 196,000 - 210,000oz
§ AISC1: A$2,100 - A$2,250/oz Au
§ Growth capital: A$95 - 105 million