Gold Road welcomes Independence group to its share registry

THE CONFERENCE CALLER: Being on the ground at the RIU Sydney Resources Round-up enabled The Roadhouse to gain exclusive access to Gold Road Resources (ASX: GOR) management for an inside look at the share buying spree by Independence Group (ASX: IGO).

Gold Road share went nuts on Wednesday, which resulted in the company receiving some interest and the obligatory speeding ticket from the Australian Securities Exchange.

“We have noted a change in the price of the Company’s securities from a closing price of 36 cents on Tuesday, 12 May 2015, to an intra-day high of 41 cents today,” the ASX said in its queries.

“We have also noted an increase in the volume of trading in company’s securities over this period.”

At the wash up at the end of the day, it emerged that Gold Road has acquired a new admirer.

“The company has become aware that a substantial shareholder sold down a significant portion of its shareholding in the company…which was crossed in the market at 38.5 cents,” Gold Road told the ASX.

“Further the company has been advised that the shares were acquired on behalf of Independence Group Limited.

“The company welcomes such a well credentialed corporate as IGO to its register of members.”

Speking exclusively to members of Gold Road’s management team at the RIU Sydney Resources Round-up we were told that the company had no idea what motives were behind the IGO move.

“We can’t speak for what IGO might be thinking,” The Roadhouse was told.

“All we can take from the purchase of the shares by a company such as IGO is that it vindicates the work we have done on our Yamarna gold project to date.”

In its announcement to the ASX, Gold Road indicated it is continuing to advance its Yamarna gold project with an upgrade to the Resource on the Gruyere deposit due in the September 2015 quarter.

A Pre‐Feasibility Study is expected to be released in the March 2016 quarter.

Email: perth@goldroad.com.au

Website: www.goldroad.com.au