Summary of Gold Road Resources' AGM - Cannings Purple
Chief executive Ian Murray gave an upbeat presentation to a big crowd at the Gold Road Resources AGM in Perth this afternoon, officially drawing the curtain on an extraordinarily successful 12 months for the well-funded Perth-based gold development and exploration company.
Since last year's AGM, Gold Road signed the Gruyere JV development agreement with Gold Fields - construction of the $A532m mine development is well advanced, and on track and on budget for first gold in Q1, 2019 - and continued its industry-leading greenfields exploration push - $A24-26m annually - across the Yamarna Belt, in Western Australia's north-eastern Goldfields.
Targets for 2018:
- safe and on-budget completion of Gruyere construction;
- confirming Corkwood and/or Wanderrie (North Yamarna) as sizeable discoveries; and
- identify 2 new exploration "camps".
It is shaping as equally busy in 2019 as Gold Road continues on its path of transformation from explorer to mine developer through to gold producer-with-exploration-upside.
Targets for 2019:
- generate first cash flow from Gruyere;
- recycle cash into finding the next mine in Yamarna Belt; and
- establish maiden resource of one of the new regional discoveries.
In short: lots to get excited about for Gold Road Resources shareholders.
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