INVESTORS AND MEDIA Media releases
The Gruyere gold mine, in Western Australia, has reached commercial production.
Joint venture partners, Gold Road Resources and Gold Fields subsidiary Gruyere Mining Company, on Wednesday said commercial production had been achieved slightly ahead of schedule.
They added that, as throughput rates and gold recoveries during ramp-up had been above expectations, they now expect gold production for this calendar year to be at the upper end of guidance of 75 000 oz to 100 000 oz.
All-in sustaining costs for the December 2019 quarter are guided at between A$1 050/oz and A$1 150/oz, slightly higher than the forecast life-of-mine average of A$1 025/oz.
The final forecast capital cost remains within the previously announced A$621-million.
Gruyere is expected to produce about 300 000 oz/y of gold over a 12-year mine life.