Mid-tier gold production and exploration company Gold Road Resources (ASX: GOR) has provided a production update for the March quarter.
Gold Road’s principal asset is a half-share in the Gruyere gold mine, in Western Australia’s north-eastern Goldfields. The Gruyere JV is a 50:50 joint venture with Gold Fields (JSE: GFI), which manages and operates the Gruyere gold mine. In addition, Gold Road also has a significant investment and exploration portfolio that includes a 17.3% strategic shareholding in takeover target De Grey Mining (ASX: DEG).
March quarter
- Gruyere gold production for the March 2025 quarter on a 100% basis is anticipated to be between 70,000 – 73,000 ounces of gold (December 2024 quarter: 91,631 ounces).
- Production is anticipated to be below plan because of maintenance on the primary crusher and the failure of two conveyor belts. The Gruyere JV has investigated the cause of these issues and has developed recovery plans.
- Mining continues to ramp up as planned and is currently at an annualised rate of approximately 72 Mtpa, with further improvement anticipated.
2025 Guidance
- 2025 annual production and cost guidance are unchanged at 325,000 – 355,000 ounces (162,500 – 177,500 ounces attributable) at an attributable All-in Sustaining Cost (AISC) of between A$2,400 and A$2,600 per ounce
Comprehensive reporting, including all production physicals, cost and attributable AISC, will be provided with the fully reconciled production numbers in the quarterly report next month.
