Greatland Gold PLC has released an update on its activities and developments for the June 2024 quarter, along with an outline of its planned exploration program for FY2025. The company has made significant progress at the Havieron project, with approvals and permitting advancing to enable the future recommencement of the underground decline development. The Environmental Protection Authority of Western Australia has made a formal decision to assess approval of the project, with some additional information requested, which is currently being compiled for submission.
The total development at Havieron exceeds 3,060 meters, including over 2,110 meters of advance in the main access decline as of 30 June 2024. The decline is approximately 80 vertical meters away from reaching the top of the Havieron ore body. The company has paused decline development before reaching the Havieron ore body to construct three evaporation ponds to manage dewatering requirements for development through the lower confined aquifer. Greatland's joint venture partner Newmont has announced its intention to divest its interest in Havieron, and Greatland holds a right of last refusal in respect of a sale by Newmont to a third party.
In corporate news, Dean Horton has been appointed as Greatland's Chief Financial Officer, bringing over 25 years of experience, including significant experience in project debt financing of Australian and international resources and energy projects. The company has outlined a comprehensive proposed exploration program for FY25, focusing on on-ground work including drilling, surface sampling, and geophysics, building upon work completed in FY24. The program includes various activities across different projects, such as Paterson, Scallywag, Ernest Giles, and Heritage surveys.
Greatland Managing Director, Shaun Day, commented on the progress at Havieron, stating, "At Havieron, good progress was made in the quarter with the EPA's formal decision to assess the environmental approval application." The company continues to position itself strongly for potential opportunities to consolidate ownership of Havieron on accretive terms for its shareholders.