Can the Greatland Gold share price keep climbing?
The Greatland Gold (LSE: GGP) share price has been in a holding pattern since February. After rising to a high of more than 37p at the end of 2020, the stock fell to around 20p by the middle of February. Since then, its struggled to break back above 25p. This could present an attractive opportunity for long-term investors. Indeed, while the stock has traded sideways over the past five months, the company hasnt been standing still. 5G is here  and shares of this sleeping giant could be a great way for you to potentially profit! According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air And if you click here well show you something that could be key to unlocking 5Gs full potential...  During this period, Greatland has been pushing ahead with the exploration activities at its flagship mining prospect in the Paterson region of Western Australia. Greatland Gold share price outlook  Today, the company issued an update on its exploration activities with joint venture partner, Newcrest Mining. According to the update, results from seven new drill holes at the Havieron project are excellent and support the potential for resource expansion within the system. Commenting on the results, CEO Shaun Day said: These latest drilling results add further extensions to the high-grade mineralisation at Havieron while evolving the deposit beyond the existing resource shell.  He added that with each new set of positive results, the potential size and value of the gold-copper orebody at Havieron grows. So far, the Greatland Gold share price has been supported by nothing but good news from Havieron. However, full production is still a long way off. The joint venture partners are currently progressing the necessary approvals and permits to develop an operating underground mine. The goal is to achieve commercial production at the project within three years. To that end, the partners have recently been working on surface earthworks, which are nearing completion. In addition, construction of the mines underground decline is also underway. A red flag  All in all, it looks as if Greatland and its partner are making good progress. But, as noted above, the company isnt yet producing any sales or profits. That, to me, is a big red flag. Until production is underway, therell always be a risk with early-stage mining companies that problems could emerge, which throw the project into doubt. Indeed, the vast majority of mining projects dont make it from the exploration to production stages. A lack of funding and planning permissions are the main reasons why projects fail. Nevertheless, having a significant partner like Newcrest on side will be helpful. Greatland is already benefitting from the larger firms experience and deep pockets. And while its impossible to say with any certainty if the Greatland Gold share price will head higher, I think the fundamentals are encouraging. If the company continues to report favourable drilling results and doesnt run into any other problems, I see no reason why the stock cant head higher in the long run. Still, in the meantime, the company has to get to the production stage. So, considering the risks facing the enterprise, Id only buy a small, speculative position for my portfolio.