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PERTH (miningweekly.com) – Mill performance issues in the June and September quarters at the Gruyere gold mine, in Western Australia, have impacted ASX-listed Gold Road Resources' bottom line.
The company on Monday reported that revenue from gold sales for the full year had reached A$274.8-million, down from the A$294.7-million reported in 2020, with realised gold prices falling from A$2 330/oz in 2020 to A$2 210/oz.
Gold sales from the Gruyere operation declined from 126 434 oz to 124 335 oz, on the back of the mill performance issues, with Gold Road reporting earnings before interest, taxes, depreciation and amortisation of A$120.2-million for the 12 months under review, down from the A$170.6-million the year before.
Gold Road on Monday reported a consolidated net profit after tax of A$36.8-million, compared with the A$80.8-million for the year before.
"The year 2021 saw a significant increase in attributable reserves and resources, and positive progress from our exploration efforts at Yamarna," said MD and CEO Duncan Gibb.
"Net profit after tax was A$36.8-million for 2021. The company continued to return income to shareholders in the form of six-monthly dividend payments, and the board has determined to pay a dividend for the six months to December 31 of 0.5c."
