Published on: November 9, 2015
FY15 results reiterate progress
Greatland’s FY15 results were in line with our expectations at the operating level, with a £0.5m impairment charge associated with asset disposals producing a pre-tax loss of £1.1 million. The Group notes a challenging operating environment but remains encouraged by the surveys at its retained assets and associated drilling programmes. It has reiterated the findings of September’s strategic review, which target a focus on advanced exploration assets and near-term producing opportunities with a reduction in Greatland’s exposure to early stage mineral exploration. We make small adjustments to our FY16E estimates and introduce FY17E numbers.