Introduction

Greatland Gold (AIM: GGP), an Australian mining company, has outlined an ambitious two-year production plan for its recently acquired Telfer mine, purchased from Newmont last fall. The company aims to achieve an annual output of 280,000 to 320,000 ounces of gold through fiscal year 2027, addressing a previously identified production gap before the Havieron mine begins operations.

Telfer Mine Production Strategy

The production target is based on existing inventory from the West Dome open pit and Main Dome underground operations, supplemented by run-of-mine and low-grade stockpiles. Greatland is confident in extending Telfer’s operational timeline, with managing director Shaun Day noting an 18-month extension of dual train processing after just five months of ownership. The company also reported 90,000 oz. of gold production in the March 2025 quarter, signaling steady progress.

Currently, 20% of Telfer’s inventory consists of inferred resources and unclassified mineralization. However, Greatland is optimistic about converting these into higher-confidence measured and indicated categories, leveraging Telfer’s 40-year operational history and extensive drilling data. Ongoing drilling aims to refine resource estimates and potentially expand open pit and underground deposits beyond FY2027.

Havieron Integration and Future Growth

Looking ahead, the Havieron project, also acquired from Newmont, is slated to start production in FY2028. Greatland anticipates this integration will significantly reduce costs and boost production volumes. Havieron holds estimated reserves of 25 million tonnes at 3 grams per tonne of gold, supporting an annual output of 221,000 oz. over its first 15 years at a throughput rate of 2.8 million tonnes per annum. The company is exploring an expansion to 4-4.5 million tonnes, with a feasibility study expected to conclude in the second half of 2025.

Analysis and Perspective

While Greatland’s plan appears robust, relying on inferred resources introduces uncertainty. The conversion to higher-confidence categories is not guaranteed and depends on drilling outcomes and market conditions. Additionally, the ambitious Havieron expansion hinges on the feasibility study, which could reveal operational or financial challenges. However, Telfer’s long history and Greatland’s proactive approach to resource evaluation provide a solid foundation for optimism. Investors should monitor drilling results and Havieron’s development closely, as these will be critical to sustaining momentum.