Gold Road Resources and Gruyere JV Closer to Gold Goal

THE BOURSE WHISPERER: Gold Road Resources (ASX: GOR) is close to commissioning the company’s Gruyere gold project Joint Venture with Gold Fields Limited.

Gold Road informed the market that the Gruyere process plant is nearing completion, currently at 97 per cent completion, with finishing works in progress across the site.

Recent activity on site has included:

The Primary Crushing system was ore commissioned in January delivering material to the coarse ore stockpile and is in the process of being handed over to the operations team.

The Gruyere Power Station and high voltage sub-stations across the site are fully commissioned, enabling power supply for commissioning activities.

Water systems around the process plant are fully commissioned as is the Yeo Borefield in the southern section which has delivered water to the main transfer station ahead of the process plant.

Dry commissioning activities are in progress including the coarse ore reclaim and mill feed circuits, the grinding area SAG and Ball Mills, CIL, thickeners and reagents areas.

Gold Road declared Gruyere is on target for first gold production in the second half of the June 2019 quarter and within the previously announced Final Forecast Capital Cost estimate of $621 million (100 per cent basis) of which $284 million is attributable to Gold Road.

Mining activities scaled up to double shift operations in January, as scheduled, with total mining movement tracking ahead of plan.

From the start of construction to the end of the March 2019 quarter, Gruyere has mined 4.9 million BCM (bank cubic metres) of material from the open pit as budgeted in the Gruyere Feasibility Study.

To date, approximately 800,000 tonnes of ore have been mined and stockpiled in preparation for the process plant start-up.

The company explained that the substantial ore stockpile largely de-risks mining related aspects of the operation during the commissioning and ramp-up phases.