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Greatland Gold says gold at a record boosts the economics of the company's projects
Greatland Gold PLC managing director Shaun Day discusses the impact of high gold prices on the economics and potential of the company's projects in an interview with Proactive's Stephen Gunnion.
Day highlighted that the high gold price significantly boosts the value of Greatland Gold's projects, especially Havieron, which is noted for producing superior economic returns throughout various market cycles. With gold trading near record highs and a substantial resource base of 8.4 million ounces, the company is focused on transitioning more resources into reserves, enhancing their value under the current pricing conditions.
Additionally, Day pointed out the concurrent strong performance in copper prices, which also benefits Greatland Gold, given their assets include about 20% copper.
Looking ahead, he expressed optimism about the gold market, citing upcoming interest rate cuts and ongoing geopolitical risks as factors likely to support higher gold prices. This environment, he believes, will be particularly beneficial for gold companies, including Greatland Gold, which is well-positioned to leverage its significant gold inventory and favourable Australian operating conditions to enhance company valuations, especially in a strong USD and weak AUD scenario.
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COMTEX_451069989/2453/2024-04-19T03:00:05