Greatland Gold says gold at a record boosts the economics of the company's projects
April 19, 2024 at 03:01 am EDT
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Greatland Gold PLC managing director Shaun Day discusses the impact of high gold prices on the economics and potential of the company's projects in an interview with Proactive's Stephen Gunnion.
Day highlighted that the high gold price significantly boosts the value of Greatland Gold's projects, especially Havieron, which is noted for producing superior economic returns throughout various market cycles. With gold trading near record highs and a substantial resource base of 8.4 million ounces, the company is focused on transitioning more resources into reserves, enhancing their value under the current pricing conditions.
Additionally, Day pointed out the concurrent strong performance in copper prices, which also benefits Greatland Gold, given their assets include about 20% copper.
Looking ahead, he expressed optimism about the gold market, citing upcoming interest rate cuts and ongoing geopolitical risks as factors likely to support higher gold prices. This environment, he believes, will be particularly beneficial for gold companies, including Greatland Gold, which is well-positioned to leverage its significant gold inventory and favourable Australian operating conditions to enhance company valuations, especially in a strong USD and weak AUD scenario.
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Greatland Gold plc is a United Kingdom-based mining development and exploration company, which is focused on precious and base metals. The principal activities of the Company consist of the development of the Havieron gold-copper project (Havieron) and the exploration and evaluation of mineral tenements within Australia. The Havieron is a gold-copper project centered on a deep magnetic anomaly located within mining Lease M45/1287 in the Paterson Province of Western Australia, approximately 485 kilometers (km) southeast of the town of Port Hedland and 45km east of Telfer. Its projects also include the Ernest Giles Project, the Panorama Project, Juri Project, Paterson South Project, Greater Paterson Project, and the Bromus Project. The Ernest Giles Project is located in central Western Australia. The Panorama Project is located in the Pilbara region of Western Australia. The Bromus Project is located over 20 kilometers southwest of the town of Norseman in southern Western Australia.