Greatland Resources (GGP) H1 2026 earnings summary

Executive summary

• Achieved revenue of $977.3 million for the half year ended 31 December 2025, a significant increase from $16.6 million in the prior period, reflecting the impact of the Telfer-Havieron acquisition and ramp-up of operations.

• Net profit after tax was $342.9 million, compared to a net loss of $8.2 million in the prior period.

• Achieved strong operational and financial performance for H1 FY26, driven by robust commodity prices and disciplined cost control.

• Completed Havieron Feasibility Study, confirming a world-class, long-life, low-cost gold-copper development.

• Major business transformation completed, including the acquisition of Telfer-Havieron and a change in reporting currency to Australian dollars.

Financial highlights

• Net profit after tax (NPAT) of $342.9m and EBITDA of $560.3m for H1 FY26.

• Net revenue reached $977.3m, with sales of 154,411 oz gold at $5,756/oz and 6,578 t copper at $13,606/t.

• Gross profit reached $516.2 million, up from $5.6 million year-over-year.

• Operating cash flow was $658.5m, with free cash flow of $387.4m and closing cash of $948.3m.

• Total assets grew to $2.68 billion from $2.12 billion at 30 June 2025.

Outlook and guidance

• Havieron project targets steady-state annual production of 266koz gold and 9.6kt copper at an AISC of $1,610/oz.

• Forward-looking statements highlight expectations for continued production growth and resource development at Havieron.

• Environmental approvals for Havieron are progressing, with primary approvals targeted for FY26.

• No new information materially affects previously disclosed Mineral Resource and Ore Reserve estimates.

• Telfer Mineral Resource update, including maiden West Dome Underground estimate, expected in March 2026.