Greatland Approves Havieron FID After Executing $500m Corporate Debt Facility

Greatland Resources has taken Havieron into its next development phase, approving the final investment decision for the Western Australian gold-copper project after executing a $500 million corporate debt facility with a syndicate of major international and Australian lenders.

The financing package brings ANZ, ING, HSBC, NAB and Westpac into Greatland’s funding structure and converts the binding commitment letter announced in December 2025 into detailed facility documentation. The terms remain consistent with the earlier commitment, including no mandatory hedging requirement, preserving Greatland’s exposure to future gold and copper pricing as it moves Havieron toward development.

The facility has been structured across three tranches. Facility A is a $250 million undrawn five-year revolving credit facility for working capital and general corporate purposes, including Havieron development. Facility B is a $225 million undrawn seven-year revolving credit facility with the same broad purpose. A $25 million contingent instrument facility will support bank and performance guarantees, with $17.87 million drawn as at 31 May 2026.

Financial close has been achieved on Facility A and the contingent instrument facility. Facility B is targeted for financial close toward the end of June 2026, following publication of Greatland’s updated Ore Reserve estimate for Telfer. The company’s former $75 million undrawn working capital facility has been cancelled, while its previous $25 million contingent instrument facility has been refinanced into the new structure.

The financing milestone lands alongside the board’s approval of the Final Investment Decision for Havieron, following receipt of the primary state and federal environmental approvals required for the project. Substantive development after FID remains subject to the grant of certain secondary environmental approvals but the decision moves Havieron beyond approval sequencing and into funded execution planning.

Greatland now has more than $1.2 billion in net cash and, subject to Facility B closing, more than $1.7 billion of available liquidity. That balance sheet gives the company full funding coverage for Havieron’s development pathway, with the feasibility study estimating $1.065 billion in pre-production capital to first gold and a further $673 million in expansion capital, largely expected to be self-funded from Havieron cash flows.

The structure gives Greatland room to make project-delivery decisions from a position of financial strength. The company has flagged the option to accelerate selected elements of the expansion capital program where doing so could reduce schedule or delivery risk, an important consideration for a project designed to become the next high-grade feed source for the Telfer processing hub.

Greatland Managing Director, Shaun Day, said the financing and investment decision placed the company in position to advance a major Australian development.

“The execution of the corporate debt facility and Havieron Final Investment Decision provides the opportunity to deliver one of Australia’s premier gold-copper projects.

The development of Havieron, alongside the successful delivery of Telfer life extensions, has the potential to underpin a multi-decade, world class gold-copper mining hub in the Paterson Province.”

Havieron sits approximately 45 kilometres east of Telfer and is being developed as a high-grade underground gold-copper mine feeding ore into Greatland’s existing processing infrastructure. That hub-based development model is central to the project’s investment case because it avoids the need for a stand-alone greenfield processing plant and places Havieron inside an established operating district with power, camp, logistics and processing infrastructure already in place.

The FID also strengthens the strategic relevance of Telfer. Greatland acquired Telfer and consolidated full ownership of Havieron from Newmont in December 2024, giving the company control of both the regional processing hub and the development asset intended to extend its operating base in the Paterson Province. Havieron’s development, combined with Telfer life extensions, now gives Greatland a defined pathway toward a longer-duration Australian gold-copper business.