Gold Road misses guidance despite record December quarter
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The news: Gold Road Resources has narrowly missed its annual production guidance despite delivering record production in the December quarter.
The numbers: The miner produced 91,631 ounces of gold in the three months to December 2024, up from 68,781 ounces in the preceding quarter.
Despite this, 2024 annual production at its Gruyere mine site in Western Australia totalled 287,270 ounces, slightly below annual guidance of 290,000 to 305,000 ounces.
The context: Gold sales for the quarter totalled 47,745 ounces at an average sales price of $4,093 per ounce, and the company lifted cash and equivalents to $173.9 million at December-end.
The gold miner cut production guidance in July 2024 after heavy rainfall affected operations during March and April.
The ASX-listed firm owns a 50% interest in the Gruyere gold mine in Western Australia that it owns jointly with the mine’s operator, Gold Fields. It said the December quarter result and output exit rate positions Gruyere for strong production performance in 2025.
The source: ASX announcement
