Greatland achieves strong quarterly gold, copper production as cash balance rises to $750m
ASX- and Aim-listed Greatland Resources has reported that its operations produced 80 890 oz of gold and 3 366 t of copper in the quarter ended September 30, while sales slightly exceeded production at 82 199 oz of gold and 3 277 t of copper.
The company said its all-in-sustaining cost for the quarter is still being finalised but is expected to be near the lower end of its 206 financial year guidance of $2 400/oz to $2 800/oz of gold.
Greatland also confirmed that its full-year production target remains between 260 000 oz and 310 000 oz of gold.
The company reported a cash balance of $750-million as at September 30, up from $575-million at the end of June, with no debt. Greatland described the $175-million increase as a cash build achieved after capital expenditure.
Greatland will release its full quarterly activities report on October 27.
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