Greatland Gold plc, a mining development and exploration company, has released its audited financial results for the year ended June 30, 2023. The company highlights that it has retained 30% ownership of the Havieron project, which delivers substantial value to Greatland shareholders. The company has also strengthened its board with several new appointments. Greatland successfully completed equity raisings of £63.3 million, including a £33.5 million cornerstone investment by Wyloo Metals. The company has also signed a letter of support with ANZ, HSBC, and ING for Havieron, supporting a A$220 million seven-year syndicated debt and associated hedging facilities. Greatland has executed a A$50 million unsecured standby loan facility with Wyloo Metals.
In terms of portfolio highlights, Greatland has continued the expedited development of the underground decline at Havieron and is progressing well with the feasibility study. The company has also entered into a farm-in and joint venture agreement with Rio Tinto Exploration to explore over 1,500km2 of highly prospective tenure near Havieron. Greatland has signed a landmark land access agreement for the Ernest Giles project and has been awarded a drilling grant under the Government of Western Australia's Exploration Incentive Scheme. The company has also continued to advance exploration at its tenements in the Paterson, particularly at Scallywag. At the Juri Joint Venture, a second exploration program commenced in May 2022 with encouraging assay results.
Greatland Managing Director, Shaun Day, commented on the progress made at Havieron and the exploration advancements across the company's portfolio. He also highlighted the company's enhanced corporate position through securing equity and debt financing, including the strategic cornerstone equity investment from Wyloo Metals. Day expressed the company's eagerness to continue building on its growth platform and taking advantage of value generative opportunities.
The 2023 Annual Report is available for download on Greatland's website and will be mailed out to registered shareholders. The company's contact information is provided for further inquiries. Greatland is a mining development and exploration company focused primarily on precious and base metals. Its flagship asset is the Havieron gold-copper project in Western Australia, which is being developed in a joint venture with Newcrest Mining Limited. The company has a proven track record of discovery and exploration success and is focused on becoming a multi-commodity miner of significant scale.