Greatland Gold in Daily Mail/This is Money AGAIN today
Posted: Sun Mar 16, 2025 7:58 am
GREATLAND GOLD
Northern Star Resources is Australia’s second largest gold miner. Worth more than £15 billion, the group’s share price rose around ten-fold between 2014 and 2019, when Shaun Day was chief financial officer. Now Day is at the helm of Greatland Gold, an Aim-listed miner whose share price is expected to spike this year and beyond.
Major gold discoveries are few and far between these days, but six years ago Greatland discovered Havieron, a high-grade gold and copper mine in the east Pilbara region of Western Australia.
It’s one of the most exciting projects of recent times, with a total resource of more than 7 million ounces of gold and a pile of copper thrown in for good measure. But the area needed developing and Greatland could not go it alone, so Australian giant Newcrest came in as a partner, taking a 70 per cent stake in the mine.
Everything changed late last year. Newcrest was acquired by American mining group Newmont, the new owners wanted to streamline operations and Greatland was given the chance to take full control of Havieron, alongside Telfer, a neighbouring mine and processing plant.
Day seized the opportunity with both hands.
The deal was completed in December and is set to transform Greatland from the minority owner of a development site into a fully fledged miner, producing gold from Telfer and moving towards production at Havieron.
Newcrest even left substantial stockpiles at Telfer, allowing Greatland to generate some healthy profits from the start. Day plans to extend the mine as well, creating plenty of opportunities for future production. And Telfer has one of the largest processing plants in Australia, supporting growth there and at Havieron, expected to emerge as one of the top producers in the country.
Moving to production does not come cheap, and Day is hoping to borrow more than £500 million in bank debt to achieve his ambitions, but the potential is clear, lenders seem keen and production costs should be low once the mine is up and running. Day also intends to list Greatland in Australia alongside AIM, a move that should bolster the share price over here as investors Down Under pitch into the stock.
Midas verdict: Greatland shares are 9.7p and the business is valued on the stock market at £1.2billion. Many gold experts believe the price should increase considerably from here, as Day proves his mettle and Aussie investors come on board. With big plans ahead and serious money at stake, these shares are not for the cautious but they could deliver rich rewards, particularly with gold at current levels.
https://www.thisismoney.co.uk/money/mai ... mrn_rm=rta
Northern Star Resources is Australia’s second largest gold miner. Worth more than £15 billion, the group’s share price rose around ten-fold between 2014 and 2019, when Shaun Day was chief financial officer. Now Day is at the helm of Greatland Gold, an Aim-listed miner whose share price is expected to spike this year and beyond.
Major gold discoveries are few and far between these days, but six years ago Greatland discovered Havieron, a high-grade gold and copper mine in the east Pilbara region of Western Australia.
It’s one of the most exciting projects of recent times, with a total resource of more than 7 million ounces of gold and a pile of copper thrown in for good measure. But the area needed developing and Greatland could not go it alone, so Australian giant Newcrest came in as a partner, taking a 70 per cent stake in the mine.
Everything changed late last year. Newcrest was acquired by American mining group Newmont, the new owners wanted to streamline operations and Greatland was given the chance to take full control of Havieron, alongside Telfer, a neighbouring mine and processing plant.
Day seized the opportunity with both hands.
The deal was completed in December and is set to transform Greatland from the minority owner of a development site into a fully fledged miner, producing gold from Telfer and moving towards production at Havieron.
Newcrest even left substantial stockpiles at Telfer, allowing Greatland to generate some healthy profits from the start. Day plans to extend the mine as well, creating plenty of opportunities for future production. And Telfer has one of the largest processing plants in Australia, supporting growth there and at Havieron, expected to emerge as one of the top producers in the country.
Moving to production does not come cheap, and Day is hoping to borrow more than £500 million in bank debt to achieve his ambitions, but the potential is clear, lenders seem keen and production costs should be low once the mine is up and running. Day also intends to list Greatland in Australia alongside AIM, a move that should bolster the share price over here as investors Down Under pitch into the stock.
Midas verdict: Greatland shares are 9.7p and the business is valued on the stock market at £1.2billion. Many gold experts believe the price should increase considerably from here, as Day proves his mettle and Aussie investors come on board. With big plans ahead and serious money at stake, these shares are not for the cautious but they could deliver rich rewards, particularly with gold at current levels.
https://www.thisismoney.co.uk/money/mai ... mrn_rm=rta
