Gold Road Resources Sets New Record with 91,631 Ounces of Gold Production in December Quarter

2 min read | January 06, 2025 11:25 AM AEDT | By Team Kalkine Media

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Gold Road Resources Sets New Record with 91,631 Ounces of Gold Production in December Quarter — Image source: shutterstock

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Highlights

Gold Road Resources Ltd (ASX:GOR) achieved record quarterly production of 91,631 ounces of gold at the Gruyere gold mine in Western Australia, surpassing the previous quarter's 68,781 ounces.

Gruyere's total gold production for 2024 reached 287,270 ounces, slightly below the guidance of 290,000–305,000 ounces.

Gold sales reached 47,745 ounces at an average price of A$4,093 per ounce, with strong processing metrics of 2.4 million tonnes of ore and a recovery rate of 92.2%.

Gold Road Resources Ltd (ASX:GOR) has marked a significant milestone with record gold production from the Gruyere gold mine in the December 2024 quarter. The company produced an impressive 91,631 ounces of gold, exceeding the 68,781 ounces produced in the previous quarter.

Gruyere, a 50:50 joint venture between Gold Road and Gruyere Mining Company, delivered a total of 287,270 ounces of gold for the year. While slightly below the company’s guidance of 290,000 to 305,000 ounces, this production still underscores the strong performance of the operation in Western Australia's Eastern Goldfields region.

Gold sales for the December quarter reached 47,745 ounces at an average price of A$4,093 per ounce, contributing significantly to Gold Road’s financial results. As of December 31, 2024, the project held approximately 1,782 ounces of gold doré and bullion on hand.

The December quarter also saw robust processing performance, with 2.4 million tonnes of ore processed at a head grade of 1.28 g/t of gold. The operation achieved a gold recovery rate of 92.2%, demonstrating the efficiency and reliability of Gruyere’s processing facilities.

Gold Road’s strong production figures have positioned the company favorably heading into 2025. Management has expressed confidence in sustaining this momentum, with plans to release the full December quarterly report later this month.

The Gruyere gold mine continues to stand out as a key contributor to Australia’s gold sector. Located in a prolific mining region, the project has consistently demonstrated the ability to achieve high production levels while maintaining cost efficiency.

Gold Road Resources shares are trading steadily at $2.09.

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