Gold Road Resources has lifted output at the Gruyere gold mine in Western Australia to 72,980 ounces (oz) for the June 2025 quarter, a slight increase from the previous quarter.
Gold Road has reported its preliminary gold production for the June quarter, with sales for the period totalling 37,741oz at an average price of $5131/oz.
The company remains unhedged, maintaining full exposure to spot gold prices. As of June 30, approximately 2027oz of gold doré and bullion remains on hand.
Gold Road’s cash and equivalents rose strongly to approximately $242.2 million, up from the $203.8 million reported for the March quarter, with the company continuing to operate with no debt drawn.
Listed investments held by the company had a market value of approximately $921 million at quarter’s end.
Gold Road flagged that full-year production at Gruyere is now expected to track toward the lower end of its 2025 guidance range of 325,000–355,000oz (162,500–177,500oz attributable).
The company also anticipates that its all-in sustaining costs will sit around the top end of guidance of between $2400–$2600/oz, with final figures to be confirmed in Gold Road’s upcoming June quarterly report.
Gold Fields recently made a $3.7 billion play to acquire Gold Road.
As per the joint venture (JV) agreement, Gold Fields is Gruyere’s manager and Gold Road is responsible for carrying out exploration along the JV tenements. If Gold Fields successfully acquires Gold Road, it will consolidate its ownership of Gruyere.
Under the terms of the scheme implementation deed, Gold Road shareholders will receive a fixed cash consideration of $2.52 per share for each Gold Road share.
Following a review by Australia’s Foreign Investment Review Board (FIRB), the Treasurer has cleared Gold Fields to proceed with its acquisition of Gold Road Resources, with the Federal Government having no objection to the transaction under the Foreign Acquisitions and Takeovers Act 1975.