Gold Road Resources (ASX: GOR) has provided an update on expected production figures for the March 2025 quarter at the Gruyere Gold Mine, a 50:50 joint venture with Gold Fields Ltd. While production is expected to come in below plan, Gold Road remains on track to meet its full-year guidance.
March Quarter Production: What’s Happening?
- Gold production for the quarter is anticipated to be between 70,000 – 73,000 ounces (on a 100% basis), down from 91,631 ounces in the December quarter.
- The drop in output is due to maintenance on the primary crusher and two conveyor belt failures.
- The Gruyere JV has investigated the causes and developed recovery plans to mitigate further issues.
- Mining activity continues to ramp up and is currently operating at an annualised rate of approximately 72 Mtpa, with expectations for further improvements.
Full-Year Guidance Holds Steady
Despite the temporary production dip, 2025 guidance remains unchanged:
- Annual gold production target of 325,000 – 355,000 ounces (Gold Road’s share: 162,500 – 177,500 ounces).
- All-in Sustaining Cost (AISC) guidance remains between A$2,400 – A$2,600 per ounce.
What’s Next?
Gold Road will provide a detailed breakdown of production, costs, and attributable AISC in its March Quarterly Report, set for release early next month.
With mining activity continuing to ramp up and a recovery plan in place, Gold Road remains well-positioned to hit its 2025 production targets.
