Greatland Resources gold production reaches 328,986 ounces
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- 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.
