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Gruyere on track to produce 250,000 – 285,000 oz this year - Gold Road - Proactive Investors Australia

Thursday, 28 May 2020

The company has an ore reserve of 1.9 million ounces and a resource of 3.6 million ounces. 12-year mine life at ~300,000 ounces per annum.

Gold Road Resources Ltd (ASX:GOR) became one of Australia's newest gold producers in June 2019, achieving its first gold pour from the Gruyere Gold Mine in WA along with JV partner Gold Fields Limited (JSE:GFI).

The company produced 99,130 ounces of gold in 2019 at the top of its guidance range.

Gruyere 2020 gold production for the calendar year is forecast between 250,000 – 285,000 ounces (125,000 – 142,500 ounces attributable to Gold Road).

The company's all-in sustaining cost (AISC) for Gruyere is guided between A$1,100 – A$1,200 per ounce.

Gold Road is well funded with net cash of $35 million at March 31 2020 with cash and equivalents of $115 million.

The company's share price has more than doubled since its March 2020 low, last trading at $1.73.

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