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Greatland Resources (GGP)

Retained at outperform at Macquarie; Price Target: $7.10 (£3.45) from $7.20

https://www.marketindex.com.au/news/evening-wrap-asx-200-dips-as-august-reporting-season-concludes-lithium-rare

Just to add, regards the location, this is what was stated at the last AGM in London on the 18th December 2024:

Q: Will this be the last AM to be held in London...because I think shareholders are pretty uncertain of what the ASX listing will entail?

Shaun Day: "If we do end up with a company here in Australia, what we'd like to do is still have a shareholder meeting up in London, but that would also be connected in much the same way as I'm joining you from Australia now"....."For the calendar year 25, I think I can undertake that we'll still have a meeting up in London because that will still be the centre of gravity for our shareholder base so it's going to have an ongoing importance to us".

So, it wasn't 100% clear exactly where the AGM will take place, but likely Australia, IMHO, with a 'shareholder meeting' in London at the same time, or maybe at another time/Town Hall?

Https://app.sharelinktechnologies.com/announcement/asx/8a644027d030cdf06bbf70011d146cec

In accordance with ASX Listing Rule 3.13.1, Greatland Resources Limited (ASX:GGP, AIM:GGP) (Greatland or the Company) advises that it intends to hold its Annual General Meeting (AGM) on Thursday, 13 November 2025.

"GGP reported its maiden earnings result as an ASX listed entity, switching its reporting currency from £ to A$. The earnings result was broadly in line with our expectations, with most key metrics within 3% of our estimates. Cash balances had been previously disclosed, hence the cash flow result was also in line. GGP recently lowered its FY26 production guidance, widened AISC and lifted capex, and our forecasts remain within these ranges. We believe an improved performance from the West Dome open pit and the Main Dome underground could see GGP deliver production towards the upper end of its guidance range and we see this as a key catalyst to rebuild confidence in the outlook for Telfer. The release of the Havieron study present the key near-term catalyst for the stock."

https://www.argonaut.com/greatland-resources-ggp-asx-ggp-ln-maiden-earnings-result-was-in-line/

So, no change. The Havieron Feasibility Study is still "targeted in the December 2025 quarter.

Unless anyone has heard anything more recently, Shaun Day commented as follows at the last Town Hall meeting:

Q: "When can we expect it (Havieron Feasibility Study)?"

A: "The second half of the year. I think my sense is that we might be in that December quarter....but nor do we want it to be Christmas Eve. I'd love it to be November, maybe even as early as October, but that's probably how I feel about that..."

Not too long then!

In Q1 CY2025 we sold 89,125oz at a weighted average price of A$ 4,585, which was the major part (excluding Cu) of the A$ 458 million revenue

In Q2 CY2025 we sold 87,529oz at a weighted average price of A$ 5,014, which was the major part (excluding Cu) of the A$ 487 million revenue.

We're already about 2/3rds of the way through Q3 CY2025, and the gold price has constantly been over A$5,000, indeed averaging over A$5100, so looks very promising, so far.

Gold miner Greatland Resources Limited (ASX:GGP, AIM:GGP) reported a net profit after tax of $337.3 million for the fiscal year ended June 30, according to unaudited preliminary results released Thursday.

The company generated $961.3 million in revenue from customer contracts at an average gold price of $4,785 per ounce during its first seven months of operating the Telfer mine after completing its acquisition. Net cash flow from operating activities reached $601.1 million.

Greatland reported segment earnings before interest, tax, depreciation and amortization of $526.7 million and a net profit before tax of $441.9 million, reflecting high-margin production from the Telfer operation.

The company ended the fiscal year with $574.7 million in cash and cash equivalents and no debt, positioning it with significant liquidity for future operations....

https://www.investing.com/news/company-news/greatland-resources-reports-3373-million-profit-in-first-telfer-year-93CH-4213942

Canaccord Genuity

28 August 2025

GGP Rating BUY unchanged Price Target 607p (A$12.60)

Indeed impressive, and this is only up to the 30th June. We're already almost 2/3rds through Q3 CY25 (Q1 FY26) and, of note is that the gold price has, so far, been higher on average in that period than Q2 CY25 (Q4 FY25), and significantly higher than Q1 CY25 (Q3 FY25).

The fact remains ihadtocreatethis, that there was no untruth from the GGP BOD, which your original post, IMHO. implied.

@ Littlepost "TT. I'm not clear as to how that answers my question. As not being clear on the current situation is my issue."

I still don't understand your issue. Where, exactly, is it not clear, in the reply to the ASX letter, that the GGP BOD didn't follow, in any way, whatsoever, the disclosure of information requirements, under Listing Rule 3.1?

What process is that?

@ ihadtocreatethis, "I've since seen the usual process if ASX contact ASIC who the decide whether to investigate." Please expand on that?

@ ihadtocreatethis. For clarification, you a stated "...we were told there hadn't been any contact from the ASX when in fact the response had been drafted / sent the day before".

Nobody, as far as I'm aware, told anyone that there hadn't been "any contact from the ASX". Shaun Day stated that there hadn't been any contact from the AISC. It's really very simple. Your implication was that we were told an untruth. We were clearly not.

@ ihadtocreatethis The contact question you mention, was with reference to the Australian Securities and Investments Commission (ASIC), not the ASX, which this thread relates to.

@ Littlepost IMHO, it looks to me that you're making a mountain out of a molehill. I'm sure that the BOD are well aware of their obligation to disclose information under Listing Rule 3.1, and their responses to the questions in the letter made that very clear already. Quite why you're not clear, I'm not clear.

Exactly la! The more I listen again to exactly what Shaun Day said about the changes, on the webinar, based on a CONSERVATIVE scenario, the more I increasingly see the drop as ridiculously overdone, but which has also subsequently been manipulated, IMHO. There is not, only, so much really positive to date this year, there is a lot more to come over the next few months, and beyond.

Well, it's lucky then that I've never taken any notice of chartist views then. No disrespect though.

On what do you base your 70% chance of another leg down?