Greatland Resources Gains Momentum Following Telfer Resource Expansion and Sector Wide Rerating

Shares in Greatland Resources Ltd continued their upward trajectory on Wednesday, climbing 13 per cent to 665.2 pence in London trading as investors absorbed the implications of a substantial resource upgrade at the company’s Telfer operation in Western Australia. The advance follows a broader rerating across precious metals equities, with gold prices rising 1.8 per cent amid reduced geopolitical tensions following conciliatory statements from Iran regarding Middle Eastern developments.

The mining company announced a significant resource expansion on Monday, revealing a 150 per cent increase in the mineral resource at Telfer. The updated estimate brings the total to 8 million ounces of gold, adding 4.8 million ounces at a discovery cost of approximately 5 US dollars per ounce. Since the beginning of the week, the stock has gained more than a quarter of its value.

The December 2025 resource update demonstrates meaningful progress in upgrading confidence categories. The measured and indicated resource classification, which provides a more robust foundation for mine planning and subsequent conversion to mineable reserves, expanded by 163 per cent to 3.8 million ounces. When combined with the neighbouring Havieron deposit, Greatland’s aggregate gold and copper resource now totals 14.9 million ounces of gold equivalent and 645,000 tonnes of copper.

The resource encompasses multiple mining sources, including open pit, underground and stockpile material. The West Dome Open Pit accounts for 4.9 million ounces, whilst the Main Dome Underground contributes 2.2 million ounces. A maiden West Dome Underground resource of 0.6 million ounces has been established, with grades averaging approximately 2.3 grammes per tonne. The increasing contribution from higher grade underground zones is anticipated to assume greater importance in future production strategies, particularly given the geological similarities between the West Dome Underground and the existing Main Dome Underground operation. The resource remains open for further extension.

The enlarged resource base provides substantial support for the long term viability of Telfer’s existing processing plant, which maintains an annual throughput capacity of 20 million tonnes of ore. Greatland acquired ownership of this facility in December 2024. Managing director Shaun Day characterised the combined Telfer and Havieron resource as having the potential to establish a multi decade, world class mining hub.

An updated ore reserve estimate for Telfer is scheduled for release during the second quarter of 2026. Ongoing drilling activities remain focused on converting inferred material into higher confidence resource categories. The company completed more than 134,000 metres of drilling throughout 2025, with a further 100,000 metres planned for the current drilling programme.