Gold Road Resources has announced record-breaking gold production from the Gruyere gold mine in Western Australia for the December 2024 quarter.
The Gruyere joint venture (JV), a 50:50 partnership with Gold Road Resources and operated by Gold Fields, achieved 91,631 ounces (oz) of gold production on a 100 per cent basis.
This performance marks a significant increase from the September 2024 quarter’s production of 68,781oz, demonstrating Gruyere’s ability to consistently ramp up operations.
In total, Gruyere processed 2.4 million tonnes of ore during the December 2024 quarter, with a head grade of 1.28 grams per tonne and a gold recovery rate of 92.2 per cent.
Preliminary figures indicate that the result has established a strong foundation for production growth heading into 2025.
While Gruyere’s annual production of 287,270oz fell slightly short of its guidance range of 290,000–305,000oz, the record quarterly result highlights the operation’s upward trajectory.
The December 2024 production result and exit rate positions Gruyere’s gold production for even stronger results in the year ahead.
Gold Road also reported a strong financial performance, with gold sales totalling 47,745oz at an average sales price of $4093/oz.
As of December 31 2024, Gold Road’s cash and equivalents rose to $173.9 million, compared to $109.2 million in the previous quarter.
The company invested $4.6 million in ASX-listed securities during the December 2024 quarter and currently holds listed investments with a market value of approximately $740.6 million.
Gold Road’s full December 2024 quarterly report, which will include all-in sustaining costs and fully reconciled production numbers, will be released later this month.
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