Greatland Resources gold production reaches 328,986 ounces

• Greatland Resources exceeded its full-year gold guidance by 6% following a strong final quarter.
• The company added 81 million dollars to its cash reserves, bringing total cash to 1,289 million dollars.
• Management continues to use gold put options to maintain full price upside while protecting against market downturns.

Greatland Resources (ASX:GGP) reported full-year gold production of 328,986 ounces following its preliminary June quarter results.

This annual total beat the top end of the company's fiscal year guidance range by 6%.

Quarterly production reached 79,099 ounces of gold and 3,573 tonnes of copper.

Full-year copper sales reached 14,729 tonnes, while quarterly cash reserves grew to 1,289 million dollars.

Following the announcement, the Greatland Resources share price was up at $11.77.

The company stated that a quarterly tax instalment payment of 87 million dollars was completed.

Full preliminary activity details will be provided when the company releases its formal quarterly report in July.