Gold Road has reported a strong quarter, producing 83,635 ounces of gold during the period, in line with expectations.
The amount of ore tonnes processed at its Gruyere mine – run in a joint venture with Gold Fields – totalled 2.2 million tonnes at a head grade of 1.26 grams per tonne gold and a recovery of 92.3 per cent, the highest average quarterly head grade achieved to date.
Production rates remain in line with annual guidance of 300,000-340,000oz.
Gold Road’s gold sales totalled 39,524oz at an average price of $2380/oz and included delivery of 9500oz at an average price of $1899/oz into forward sales contracts.
The company, which completed the recommended takeover of DGO Gold in August 2022, ended the quarter with cash and equivalents of $91.4 million and no debt drawn.
Gold Road holds a strategic 19.9 per cent shareholding in De Grey Mining, a 6.1 per cent shareholding in Dacian Gold, a 20.1 per cent shareholding in Yandal Resources, and a diverse portfolio of exploration tenements.
