Posted by
Two Blokes Jun 4 -
Filed in
Stock
-
7 views
Greatland Gold has just dropped its latest investor presentation, which makes fascinating reading, bringing together its latest plans, while painting an optimistic long-term picture. Remember, Greatland, now valued at close to £2 billion, owns two assets: the producing Telfer Mine and Havieron, the world's second-largest undeveloped gold asset. Near one another (comparatively by Australian standards), they are located in Western Australia's Patterson Region, a hotspot for the yellow metal. Below is a far from exhaustive run-down of what's contained in this latest nugget from one of London's growth sector's success stories. Click here to take a deeper dive. Full-year 2025 guidance and healthy cash position For the financial year to June 2025, Greatland expects to produce 196,000–210,000 ounces of gold at a total cost of A$2,100–2,250 per ounce. They plan to spend about A$95–$105 million on growth projects. The company has no debt, a A$75 million undrawn credit line, and has hedged part of its gold production to protect against price falls. Ongoing underground development at Havieron Miners have dug a ramp down to 340 metres. Work is paused at that depth to deal with an underground water layer, but all necessary approvals are expected without delaying the overall plan. Finalised mine design and target start date for Havieron The feasibility study has settled on initially mining 2.8 million tonnes of rock per year (after ramp-up), with room to increase this to 4–4.5 million tonnes later by adding a second ramp and conveyor. First production from Havieron is planned for financial 2028, pending final investment decisions and permits. Telfer still has significant resources left Telfer’s remaining resource is about 3.2 million ounces of gold and 117,000 tonnes of copper, divided between an open pit (where rock is excavated from the surface) and underground workings. Multiple opportunities to extend Telfer’s life There are known rock bodies nearby that could be added to the current mine plan, both in the open pit and underground. These include new zones and deeper sections that could keep Telfer running longer. Improved metal recovery rates at Telfer under Greatland’s ownership In the March 2025 quarter, Telfer achieved gold recovery (the percentage of gold extracted from the ore) of 86.7 per cent and copper recovery of 80.0 per cent. These rates are significantly higher than those recorded before Greatland took over. Strong and reliable processing plant at Telfer The mine has two separate processing lines, each capable of handling 10 million tonnes of rock per year. These are in good condition, with a maintenance strategy in place to keep them running smoothly. They will process material from both Telfer and Havieron, as well as any future nearby projects. It’s been a stormy start to summer on the markets. Trade tensions are once again flaring, with US President Donald Trump ratcheting up tariffs on steel and aluminium, sending a shiver through global equity markets. China has promised a firm response, while courts in Washington bicker over whether the tariffs are even legal. No surprise, then, that investors have turned cautious. Yet, dig a little deeper and a different picture emerges. According to UBS’s latest market outlook, the overall direction of travel still favours equities over the next 12 months, especially in the United States. Earnings growing Earnings are growing, interest rates could be heading lower again, and even geopolitical posturing might be more bark than bite. UBS’s call is simple: don’t get blown off course by the headlines. Instead, think long term and phase into the market gradually, particularly into high-quality US stocks and sectors driving innovation. That advice comes with good reason. Corporate earnings in the United States rose faster than expected in the first quarter, and UBS has upgraded its full-year forecast for S&P 500 earnings per share to 4%. That might not sound like fireworks, but in a jittery environment, steady profit growth offers solid ground. Even more encouraging, UBS sees 8% earnings growth in 2026, helped along by a pickup in real wages, clearer tax policy, and a return to interest rate cuts by the Federal Reserve. Historical angle There’s also a historical angle worth remembering. Times of high market volatility and low investor confidence (both of which we’re seeing now) have often been followed by strong returns. With the S&P 500 now just shy of its record high, UBS expects it to push higher, hitting 6,400 by next June, up from 5,912 today. But what about all the noise around tariffs? Yes, trade policy is lurching back into confrontational territory, and UBS sees no quick resolution. Still, the base case is that cooler heads will prevail, particularly if markets start to suffer. After all, the Trump administration has shown before that it responds to financial stress. Even with the latest drama, UBS believes the effective US tariff rate will settle around 15% by year-end. That’s not nothing, but it’s manageable. In the meantime, artificial intelligence and other transformational technologies continue to gather pace. Secular growth UBS highlights themes like AI chips, cloud computing, and health care innovation as areas of “secular growth”; in other words, they are rising regardless of the economic cycle. While individual tech stocks may be volatile, the underlying demand remains robust. So, what to do in practice? UBS recommends adding to equities bit by bit rather than trying to time the perfect moment. Think of it as dipping your toe in rather than diving headfirst. For those worried about short-term jolts, strategies focused on preserving capital or diversifying into quality bonds still make sense. The takeaway? This isn’t a time to retreat. It’s a time to plan, pace yourself and, above all, stay invested.
