Gruyere only months away from first production - Mining Weekly
PERTH (miningweekly.com) – Gold miner Gold Road Resources is expecting the Gruyere joint venture (JV) with Gold Fields to produce between 100 000 oz and 120 000 oz this year, the company said on Friday.
The Western Australia-located project is expected to produce its first gold during the June quarter, with commercial production targeted for the second half of the year.
Once commercial production has been reached, all-in sustaining costs for the remainder of the year are expected to reach between A$1 050/oz and A$1 150/oz, which is slightly higher than the forecast life-of-mine average of A$1 025/oz, as production ramps up to full capacity.
ASX-listed Gold Road said that the ramp-up to full nameplate capacity was expected to take between six and seven months to complete.
Meanwhile, Gold Road said that the final forecast capital cost estimate for Gruyere remained A$621-million on a 100% basis, with Gold Road’s share of the costs to be about A$284-million. At the end of December, the company’s remaining share of capital costs was A$40-million, with the remaining share of the JV management cost at A$10-million.
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