Greatland Resources has announced a significant upward revision to its gold reserves, stating that its flagship mines in Western Australia contain 62 per cent more gold than previously estimated.
The upgrade underscores the success of the exploration and development strategy backed by the Forrest family, whose long-term investment in the company is now supported by substantially larger resource figures.
Forrestania Resources, another entity linked to the Forrest family, is currently in the process of acquiring the Edna May gold mine from Ramelius Resources in a deal valued at approximately $300 million.
The reserve increase provides a tangible boost to the company's production outlook and asset valuation.
For investors tracking the Australian mining sector, the data point serves as a validation of the underlying geological potential at Greatland's sites, potentially reducing uncertainty around future output volumes and mine life extensions.
This development arrives against a backdrop of broader activity in the region's gold mining landscape.
Forrestania Resources, another entity linked to the Forrest family, is currently in the process of acquiring the Edna May gold mine from Ramelius Resources in a deal valued at approximately $300 million.