Mid-tier gold production and exploration company Gold Road Resources (ASX: GOR) has provided an update on December quarterly and full-year production from Gruyere.
Full details of the December and 2024 performance will be released by Gold Road in its December Quarter report later this month.
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. Gold Road also has a significant investment and exploration portfolio.
HIGHLIGHTS
Record Quarter
- Gruyere preliminary production result is a record 91,631 ounces of gold (100% basis) produced during the December 2024 quarter (September quarter: 68,781 ounces).
- Gruyere 2024 Annual Production totalled approximately 287,270 ounces (143,635 ounces attributable), slightly below annual guidance of 290,000 – 305,000 ounces.
- Annual and quarterly attributable AISC will be provided with the fully reconciled production numbers in the quarterly report later this month.
- Gruyere ore tonnes processed totalled 2.4 Mt at a head grade of 1.28 g/t Au and a gold recovery of 92.2% for the quarter.
- The December 2024 quarterly result and production exit rate for 2024 positions Gruyere for strong production performance in 2025.
Financial and Corporate
- Gold Road’s gold sales totalled 47,745 ounces at an average sales price of A$4,093 per ounce.
- Gold doré and bullion on hand on 31 December 2024 was approximately 1,782 ounces.
- Gold Road continues to be unhedged and 100% exposed to the spot gold price.
- Cash and equivalents increased substantially to approximately $173.9 million (September quarter: $109.2 million) with no debt drawn, following a $4.6 million investment in ASX-listed securities during the quarter.
- At 31 December 2024, Gold Road held listed investments with a market value of approximately $740.6 million.
