Greatland Gold PLC (AIM:GGP, OTC:GRLGF) hailed its transformational year as it reported financial results for the year to end June 2021.
During that year, the company evolved from a junior explorer to a mining development and exploration company. It achieved several significant milestones at its flagship Havieron gold-copper asset in Western Australia, including starting construction and surface infrastructure activities, moving it closer to bringing a tier-one gold copper mine into production.
Greatland said it is well positioned to fund its portfolio of projects into the next financial year.
The company’s losses widened to GBP5.5mln, from GBP5.1mln in the year-earlier period, on exploration costs and administrative expenses. It has no revenue.
The world-class Havieron deposit in the Paterson region is being developed in a joint venture with Newcrest Mining Ltd, Australia’s largest gold producer. Greatland has also entered into a JV with Newcrest on two other Paterson licences, Black Hills and Paterson Range East, known as the Juri JV.