Source: Gold Roads Resources Limited
Market Herald logo


Be the first with the news that moves the market

Gold Road Resources has completed 97 percent of its processing plant. The ‘Gruyere’ plant is located 200km east of Laverton WA.

The company also reported it is on schedule and within budget for the year with roughly 800,000 tonnes of iron ore has been mined and stockpiled.

Gruyere is a 50:50 joint venture with Gold Fields Limited. The 50 per cent interest was sold to Gold Fields in 2016 for A$350 million.

The company says the Gruyere project is one of the largest undeveloped gold deposits in Australia, making it valuable for production revenue.

Gold Road expects Gruyere to produce between 85,000 and 120,000 ounces of gold for 2019.

Once production is steady, average annual production is projected at 300,000 ounces.

Lower grade ore will be processed during the early stages to offset gold recovery losses in the later stages during stabilised production.

Please see the announcement attached

GOR by the numbers
More From The Market Herald
The Market Herald Video

" DDH1 (ASX:DDH) launches share-buy back

DDH1 (ASX:DDH) has launched an on-market share buy-back program of up to 10 per cent of…
The Market Herald Video

" Lithium Australia’s (ASX:LIT) Envirostream receives first cash rebate for B-cycle scheme

Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia has received its first cash rebate for the B-cycle scheme.
The Market Herald Video

" Wagners (ASX:WGN) promotes CEO to Managing Director

Building materials company Wagners (ASX:WGN) appoints its current CEO to the board as Managing Director, effective…

" Matsa Resources (ASX:MAT) sells 70pc stake in Fraser Range tenements to IGO subsidiary

Matsa Resources (ASX:MAT) has entered an agreement with IGO Newsearch (IGO) who'll purchase a 70 per…