Sydney, June 10, 2026, 04:03 AEST
- Greatland shares on the ASX finished 5.4% lower at A$12.45 Tuesday.
- Gold stocks slipped as bullion dropped, hit by fresh concerns over a possible U.S. rate hike.
- Havieron funding and approvals are still the main story for the company, though commodity risk has taken the spotlight again.
Greatland Resources dropped hard in Sydney Tuesday. The stock slid with other gold miners after bullion prices eased and investors pulled back from one of the ASX’s bigger mining stocks.
The stock ended the session at A$12.45, down 71 cents or 5.4%, from its last close of A$13.16. Delayed post-close data shows Greatland is off around 8.8% over the past week and sits about 18% under its 52-week top.
Timing is key here. After moving its focus to Telfer and Havieron, Greatland has started to act less like a junior explorer and more like a geared gold-copper name. That leverage can swing hard either way when gold prices slip.
ASX 200 edged down 0.2% to 8,604.2 on Tuesday, reopening after Monday’s King’s Birthday break. Gold stocks sank 4%. Evolution Mining fell 3.7% and Northern Star Resources lost 3.3%. Greatland tracked the sector’s selloff as bullion shares pulled back.
Gold dipped as traders weighed U.S. rate risks again. Spot gold lost 0.7% to $4,298.75 an ounce by 1500 GMT Tuesday. U.S. August gold futures slid 0.9%. “Risk-off” sentiment has taken hold, Bob Haberkorn at RJO Futures told Reuters, adding that gold and silver would likely stay weak until the Fed gives more direction. Reuters
Gold usually takes a hit from higher interest rates, since it doesn’t produce any yield and cash or bonds look better by comparison. This is why gold miners sell off when chances of a rate hike increase.
Greatland’s picture is less clear. The firm said June 1 it closed a $500 million corporate debt deal with ANZ, ING, HSBC, NAB and Westpac. Its board also gave the final green light to invest in Havieron, the gold-copper project near Telfer, set to supply the Telfer hub.
Greatland said Facility A and a contingent instrument facility are now at financial close. Facility B is still expected to close in late June, after the updated Telfer ore reserve estimate. The company said its available liquidity would top $1.7 billion if Facility B closes. The Havieron feasibility study put pre-production capital costs to first gold at $1.065 billion.
Greatland Managing Director Shaun Day said the new debt package and the go-ahead at Havieron put the company in a spot to deliver what he called “one of Australia’s premier gold-copper projects.” Day said both Havieron and the Telfer extensions could back a “multi-decade” mining hub in the Paterson Province. Stockopedia
Greatland’s London AIM shares finished down, with Hargreaves Lansdown data showing a 4.72% drop at the close and a 636p/637p bid-offer. The dual listing is still key for Greatland, which continues to get liquidity and retail trade from both Britain and Australia.
Market focus could stay on gold prices instead of project progress. Shares may stay under pressure even after the debt deal if gold keeps sliding, if there are more delays to environmental sign-offs, or if costs rise at Havieron. A better Telfer reserve update due later this month would give investors a new operating figure.
ASX was between sessions when this was published. Regular trading hours are just before 10 a.m. to 4 p.m. Sydney time. ASX’s 2026 calendar lists the King’s Birthday holiday as Monday, June 8, not Wednesday.
