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This report is an updated version of the report published on 29 October 2025 at 12:15 PM AEST.
Section 1: Company Overview and Fundamental Insights
1.1 Company Overview: Greatland Resources Limited (ASX: GGP) is an Australian gold and copper producer, primarily engaged in the mining and production of gold and copper, as well as project development and the exploration and evaluation of mineral tenements, mainly located in Western Australia. The company operates the Telfer gold mine, which is one of Australia's largest gold-copper mining operations, and is also developing the nearby Havieron gold-copper project. Kalkine’s Resources Report covers the Investment Highlights, Management Insights, Key Financial Metrics, Risks, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.
1.2 The Key Positives, Negatives, Investment Highlights, and Management Insights
1.3 Top 10 Shareholders:
The top 10 shareholders together form 49.27% of the total shareholding. Newmont Nol Pty Ltd and Cooper Investors Pty Ltd hold maximum stakes in the company at 9.95% and 9.71%, respectively.
1.4 Key Metrics and Milestones: The image below shows that Telfer’s drilling is projected to reach 240 km in FY26, the largest annual drill campaign in its operating history. This aggressive exploration strengthens resource conversion, extends mine life, and uncovers new high-grade zones, underpinning future production growth for GGP. Adjacently, under Greatland’s ownership, FY25 gold recovery reached 84.20%, the highest level in five years. This reflects operational focus and investment in stable grinding, flotation, and leaching circuits—driving higher margins and sustainable cash flows.
Section 2: Business Updates, Financial and Operational Highlights
2.1 Recent Business Updates:
2.2 Financial Highlights: Below mentioned are some key financial highlights:
2.3 Historical Financial Trend
Section 3: Key Risks and Outlook:
Section 4: Stock Recommendation Summary
4.1 Price Performance and Technical Summary
The stock price has declined by approximately 6.21% over the past month; and it has corrected by around 4.79% over the last 6 months. The stock has a 52-week low and 52-week high of AUD 6.460 and AUD 9.230, respectively, and is currently trading below its 52-week mid-level.
(Source: REFINITIV; Analysis by Kalkine Group)
4.2 Fundamental Valuation
Valuation Methodology: Price/Earnings Multiple Based Relative Valuation (Illustrative)
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 29 October 2025. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided have been achieved and is subject to the factors discussed above.
Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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Past performance is not a reliable indicator of future performance.
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