Gruyere hits targets for JV partners
PERTH (miningweekly.com) – The Gruyere joint venture (JV) gold project, in Western Australia, performed to guidance, producing 314 647 oz of gold in 2022, ASX-listed Gold Road said on Thursday.
Guidance for the Gruyere JV had been set at between 300 000 oz and 340 000 oz for the full year.
During the quarter ended December, Gruere produced 74 201 oz of gold, down from the 83 635 oz produced in the September quarter, with the mine processing 21.-million tonnes of ore at a head grade of 1.18 g/t gold and a gold recovery of 92.1%.
Gold Road’s attributable production during the full year reached 157 324 oz, with the miner telling shareholders that during the quarter, its gold sales totalled 37 295 oz at an average price of A$2 476/oz. The gold sales included the delivery of 6 480 oz at an average price of A$1 735/oz into the last remaining forward sales contract.
Gold Road ended the quarter with cash equivalents of A$80.7-million and no debt drawn.
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