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Published on Nov 29, 2016
Greatland Gold PLC (LON:GGP) has said drilling has started at its Warrentinna project in Tasmania, Australia.
The programme, expected to last two weeks, includes plans for six reverse circulation (RC) drill holes each to a depth of 100 metres.
Speaking at Mines and Money to Proactive, chief executive Gervais Heddle also updated investors on their drilling at Ernest Giles and developments at the Bromus project.
Heddle says: ''Being busy costs money but we're in a very strong position. We had a couple of very successful fundraisings this year and so we're sitting with approximately £800,000 in cash on the balance sheet and no debt, so we're very well financed going into 2017''.
''We believe we're at or near the bottom of the commodity cycle. We think late 2015, early 2016 was the bottom. We've been seeing a strong rally in many of the commodity prices now including gold but also the base metals have done very well'', adds Heddle.
''We think we're in the early stages of another bull market''.
The programme, expected to last two weeks, includes plans for six reverse circulation (RC) drill holes each to a depth of 100 metres.
Speaking at Mines and Money to Proactive, chief executive Gervais Heddle also updated investors on their drilling at Ernest Giles and developments at the Bromus project.
Heddle says: ''Being busy costs money but we're in a very strong position. We had a couple of very successful fundraisings this year and so we're sitting with approximately £800,000 in cash on the balance sheet and no debt, so we're very well financed going into 2017''.
''We believe we're at or near the bottom of the commodity cycle. We think late 2015, early 2016 was the bottom. We've been seeing a strong rally in many of the commodity prices now including gold but also the base metals have done very well'', adds Heddle.
''We think we're in the early stages of another bull market''.
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