Gold Road (ASX: GOR)

The company have published an updated corporate presentation.

This was presented to the recent Diggers and Dealers Mining Conference in Kalgoorlie, WA.

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Gold Road Resources Gruyere Gold Mine at night

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Gold Road Resources New Presentation

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Gold Road (ASX: GOR) The company have published an updated corporate presentation.

This was presented to the recent Diggers and Dealers Mining Conference in Kalgoorlie, WA.

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To view the presentation, please click here

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The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Gold Road Resources.

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Gold Road Resources (ASX: GOR)

Reported that mining and processing operations have resumed at Gruyere, with consumables transported via the Northern Territory and Warburton to the east of Gruyere, whilst repairs continue on the Great Central Road, Gruyere’s main supply route from the west.

As stated previously, production at Gruyere was impacted by sustained rainfall and extended road closures during March and into April1.

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To see the live Gold Road shareprice and one year chart, please click here

Gold Road Resources March 2024 Quarterly report

HIGHLIGHTS

Production and Guidance

 Mining and processing operations have resumed at Gruyere, with consumables
transported via the Northern Territory and Warburton to the east of Gruyere, whilst repairs continue on the Great Central Road, Gruyere’s main supply route from the west. As stated previously, production at Gruyere was impacted by sustained rainfall and extended road closures during March and into April1
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 Gruyere produced 64,323 ounces of gold2 (100% basis) at an AISC (All in Sustaining Cost) of A$2,194 per attributable ounce during the March 2024 quarter (December quarter: 74,659 ounces at an AISC of A$1,973 per attributable ounce).
 Following the rain event, 2024 annual guidance for Gruyere continues to be anticipated to be in the lower half of guidance of between 300,000 and 335,000 ounces (150,000 to 167,500 ounces attributable) and the upper half of attributable AISC of between A$1,900 and A$2,050 per ounce. Impacts of the rain event will result in lower than previously anticipated production in the June quarter.
 As stated previously, mining rates were at desired rates during February and early March (prior to the rain event) and production remains guided to continue to ramp-up through the calendar year with stronger production performance anticipated for the second half of the year.
 Drilling commenced to test further mining opportunities beneath the Gruyere Ore Reserve.

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Financial and Corporate

 Gold Road’s gold sales totalled 32,325 ounces at an average sales price of A$3,137 per ounce.
Gold doré and bullion on hand on 31 March 2024 was 1,825 ounces.
 Gold Road’s attributable operating cash flow from Gruyere for the quarter was $57.9 million (December quarter: $69.6 million).
 Free cash flow was $5.5 million for the quarter (December quarter: $13.8 million).
 Gold Road’s Corporate All-In Cost (CAIC) which includes growth capital, corporate and exploration costs was A$2,638 per ounce for the March 2024 quarter.
 Cash and equivalents3 were approximately $146.2 million (December quarter: $149.8 million) with no debt drawn following payment of a $8.9 million, fully franked final dividend of 1.0 cent per share dividend for the six months to 31 December 2023.
 At 31 March 2024 Gold Road held listed investments with a market value of approximately $469 million4
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To read the full News release, please click HERE

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The live gold price can be found HERE

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To read our full terms and conditions, please click HERE

Gold Road Resources (ASX: GOR)

Presented a preliminary production update from Gruyere.

Despite a significant rainfall event casing disruption to mine operations guidance for 2024 remains on track.

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Gold Road – Gruyere JV Gold Mine at night.

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Gold Road – GRUYERE PRODUCTION UPDATE

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Gold Road Resources Limited (ASX: GOR) (Gold Road or the Company) presents a preliminary production update from Gruyere.

The Gruyere JV is a 50:50 joint venture with Gruyere Mining Company Pty Ltd, a member of the Gold Fields Ltd group (Gold Fields), which manages and operates the
Gruyere Gold Mine (Gruyere).

Further details will be available in the full March 2024 quarterly report scheduled for release in April.

Production Ramp Up Progressing Well but Impacted by Recent Rainfall

 Gruyere’s mining contractor MACA has been successful in the recruitment of labour to support the ongoing expansion of mining rates at Gruyere. The recruitment of labour has progressed well during the quarter with the workforce now at desired levels. Total
material movement rates ramped up to targeted annualised daily rates prior to a
significant rain event in March. Bench turnover of the stage three and four pits to improve access to ore remains the priority focus at Gruyere.

 In March a substantial and protracted regional rain event, with more than 50% of average annual rainfall for the region falling month to date, has impacted operations. Gruyere has received circa 140 mm of rain so far this month, with the town of Laverton reporting circa 110 mm over the same period.

The substantial rainfall event has resulted in the closure of Laverton Shire roads that provide access to Gruyere and the suspension of mining operations over a portion of this period, with the likely resumption of open pit access expected next week.

 As a result of the temporary suspension of mining operations and some disruption during the ongoing rain event, the processing plant has been processing stockpiles for much of the month to date.
 March quarterly gold production is anticipated to be in the range of 68,000 – 73,000
ounces (100% basis).

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2024 Annual Guidance Unchanged

 Despite the recent rainfall event, 2024 annual guidance for Gruyere is unchanged at
between 300,000 and 335,000 ounces (150,000 to 167,500 ounces attributable) at an
attributable AISC of between A$1,900 and A$2,050 per ounce.

 As stated previously, mining and production is guided to continue to ramp up through the first half of the calendar year with stronger production performance expected for the
second half of the year.

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To read the full news release, please click HERE

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Gold Road Resources (ASX: GOR)

Presented its activity report for the quarter ending 30 September 2023.

During the September 2023 quarter, Gruyere delivered quarterly gold production of 88,668 ounces (100% basis), delivered at an AISC of A$1,682 per attributable ounce to Gold Road (June quarter: A$1,620 per ounce). 

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Gold Road – Gruyere JV Gold Mine at night.

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Gold Road September Quarter 2023 Quarterly Report

Highlights

Gold Road Resources Limited (ASX: GOR) (Gold Road or the Company), presents its activity report for the quarter ending 30 September 2023.

Production is from the Gruyere Gold Mine (Gruyere), a 50:50 joint venture with Gruyere Mining Company Pty Ltd, a member of the Gold Fields Ltd Group (Gold Fields), which operates Gruyere.

During the September 2023 quarter, Gruyere delivered quarterly gold production of 88,668 ounces (100% basis) (June quarter: 76,053 ounces).

Production was delivered at an All-in-Sustaining Cost (AISC) of A$1,682 per attributable ounce to Gold Road (June quarter: A$1,620 per ounce).

Production and Guidance

 Gruyere produced a record 88,668 ounces of gold (100% basis) at an AISC of A$1,682 per attributable ounce during the September 2023 quarter (June quarter: 76,053 ounces at an AISC of A$1,620 per attributable ounce).
 2023 annual production guidance is unchanged at between 320,000 – 350,000 ounces (160,000 – 175,000 ounces attributable) and AISC is anticipated to remain within guidance of between A$1,540 to A$1,660 per attributable ounce.

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Financial and Corporate

 Gold Road’s gold sales totalled 44,321 ounces at an average sales price of A$2,946 per ounce. Gold doré and bullion on hand on 30 September 2023 was 1,736 ounces. Gold Road continues to be unhedged and 100% exposed to the spot gold price.
 Gold Road’s attributable operating cash flow from Gruyere for the quarter was
$93.5 million (June quarter: $68.3 million).
 Record free cash flow of $51.7 million for the quarter (June quarter: $30.4 million).
 Gold Road’s Corporate All-In Cost (CAIC) which includes growth capital, corporate and exploration costs was A$1,959 per ounce for the September 2023 quarter.
 Cash and equivalents increased to $209.3 million (June quarter: $157.2 million) prior to dividend payment and investments in October, with no debt drawn.
 On 28 September 2023, Gold Road committed to subscribe for 59,675,554 shares in a two tranche institutional placement by De Grey Mining Ltd (ASX:DEG) at $1.05 per share increasing its strategic shareholding to 19.9%.
 As at 30 September 2023, Gold Road held listed investments with a market value of
approximately $345.1 million which excludes the aforementioned subscription for further
shares in De Grey Mining.
 Following a strong half year result, on 5 October 2023, Gold Road paid a fully franked interim dividend of 1.2 cents per share for the six months to 30 June 2023

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Discovery
 At the Gruyere JV (50% Gold Road), results continue to be received for drilling completed in the previous quarters at the Golden Highway. Significant intersections received included 6 metres at 4.0 g/t Au from 30 metres, 5 metres at 7.0 g/t Au from 69 metres and 13 metres at 2.8 g/t Au from 22 metres.
 At Yamarna (Gold Road 100%) three drill rigs are operating at the Jatz, Hopwood and Gallagher prospects.
 At Mallina (Gold Road 100%) RC drilling was completed, intersecting encouraging geology and gold results, with follow up diamond drilling scheduled for October. Other on ground activities included soil sampling and mapping.
 At the Greenvale and Galloway projects (Gold Road 100%) in Queensland, on ground activities including soil sampling, rock chipping, mapping and geophysical surveys are ongoing with drilling scheduled for 2024.
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To read the full news release, please click HERE

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Gold Road Resources (ASX: GOR)

Reported a 31% increase in ore reserves at its 50 : 50 Gruyere JV with Gold Fields.

The updated open pit ore reserves at the project are reported at 110.4 million tonnes @ 1.28 g/t Au for 4.54 million ounces Au, representing an increase of 31%.

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Gold Road Resources (ASX: GOR)  reported a 31% increase in ore reserves at its Gruyere JV with Gold Fields in Western Australia.

The updated open pit ore reserves at the project are now reported to be 110.4 million tonnes @ 1.28 g/t Au for 4.54 million ounces, which is an increase of 1.07 million ounces compared to December 2020.

Gold Road notes that Gruyere mineral resource remains unchanged from the previous December 2020 estimate of 155.8 million tonnes @ 1.34 g/t Au for 6.71 million ounces.

This earlier Mineral Resource included 1.2 million ounces of indicated mineral resources below the ore reserve pit design.

The project’s open pit mine life has also been extended, taking production out to 2032 at a scheduled future average annual production rate of approximately 350,000 ounces Au per year.

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Gold Road Management comments

“This is a material increase in Ore Reserves that further establishes Gruyere as a Tier One Gold Mine.

 

“Very few gold producers can reliably claim such a long-life production outlook with confidence.

 

“The update is the culmination of multiple comprehensive high-quality studies undertaken by the Gruyere Joint Venture.

 

“Gruyere will be amongst the deepest Australian open cut gold mines achieving a final depth of approximately 500 metres.”

Gold Road Resources Managing Director and CEO Duncan Gibbs

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Gold Road has stated that the ore reserve increase was calculated based on the inclusion of indicated mineral resources below the previous ore reserve, and the completion of comprehensive studies carried out between 2019 and 2021.

The Gruyere Project is a 50:50 joint venture with Gruyere Mining Company Pty Ltd, a member of the Gold Fields Ltd Group which manages and operates the mine.

To read the full research report, please click HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

Gold Road Resources (ASX: GOR)

Have taken the unusual step of halting their stock due to a “material ore reserve increase” at their Gruyere mine.

This looks to be significant news, and an announcement will be made on Thursday.

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Gold Road Resources Limited (ASX:GOR) (Gold Road or the Company) requests that an immediate trading halt be placed on its securities.

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Gold Road Resources (ASX: GOR) have taken the unusual step of halting their stock due to a “material ore reserve increase” at their Gruyere mine.

This looks to be significant news, and an announcement will be made on Thursday.

Gold Road Resources trading halt  text is reproduced below;

Gold Road Resources Limited (ASX:GOR) – Request for Trading Halt

In accordance with Listing Rule 17.1, the Company provides the following information regarding the trading halt request:

1. The trading halt is requested pending an announcement regarding the release of a
material increase in the Ore Reserve at Gruyere.
2. Gold Road anticipates that the trading halt will be lifted on or before market open on
Thursday, 28 October 2021 by provision of an announcement to the ASX regarding the
material increase in the Ore Reserve at Gruyere.
3. Gold Road is not aware of any reason why the trading halt should not be granted.
4. The material increase in the Ore Reserve at Gruyere is the Ore Reserve increase that Gold Road has guided the market would be delivered in the second half of 2021. Gold Road is not aware of any other information necessary to inform the market about the trading halt.

To read the full news release, please click HERE

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.City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

Disclosure

The writer holds stock in Gold Road Resources, bought in the market at the prevailing price on the day of purchase

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