Gruyere's outlook remains strong - Gold Road

22nd April 2020 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Gold miner Gold Road Resources has maintained its full year production outlook for its Gruyere joint venture with South Africa’s Gold Fields, in the Pilbara.

Gold production at Gruyere reached 59 595 oz during the first quarter ending March, down from the 70 023 oz produced in the previous quarter, as the volume of ore mined and milled during the March quarter declined. The mining rate slowed during the quarter as the operation progressed into harder fresh rock, Gold Roads said.

A total of 1.8-million tonnes of ore was mined during the quarter, at a grade of 1.06 g/t gold, with 1.9-million tonnes of ore milled.

Gold Road’s attributable sales for the quarter under review reached 31 700 oz, at an average price of A$2 100/oz, with the miner reporting 257 oz of bullion on hand at the end of the quarter.

The company on Wednesday said that at this stage, production and cost guidance for the Gruyere project for the full year remained unchanged at between 250 000 oz and 285 000 oz at an all-in sustaining cost of between A$1 100/oz and A$1 200/oz, but the company added that further actions by either state or federal governments to manage the spread of Covid-19 could result in a potential slow-down or suspension of operations for an indefinite period.