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Gold Road - Gruyere hits reduced FY target - Mining Business Media

Friday, 22 January 2021

Western Australia's Gruyere gold mine has met its revised production and costs guidance for the year to end December, posting FY2020 output of 258,173oz gold at AISC of ,265/oz for 50-50 JV partners Gold Fields and Gold Road Resources.

The forecasts for the NE Goldfields mine were reduced to 250,000-275,000oz at $1,250-1,350/oz last September, from the original 250,000-285,000oz at $1,150-1,250/oz, after a mechanical breakdown.

Dec qtr (Q4) gold production recovered to 70,794oz (Q3: 55,919oz) at $1,265/oz ($1,488/oz). The companies expect to announce their FY2021 guidance late this quarter.

Gold Road ended the year with cash and equivalents of $132.9M, up from $103M at the end of Q3.

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