THE BOURSE WHISPERER: Gold Road Resources (ASX: GOR) announced the 50:50 Gruyere gold project Joint Venture with Gold Fields, has been given approval from the Western Australia Department of Mines and Petroleum (DMP) for the Project Management Plan, Mining Proposal and Mine Closure Plan.
Gold Road Resources explained this to be the final level of approval required to allow commencement of construction of the process plant and associated infrastructure, and development work on the Gruyere open pit mine located 200 kilometres east of Laverton.
Receipt of the approval has fallen within the JV’s development schedule and ensures the Gruyere gold project remains on track for completion in the December 2018 quarter.
The company pointed out the next major project development milestone that needs to be ticked off will be the award of major contracts, including the EPC for the process plant and associated infrastructure, bulk earthworks, and power supply, which is expected to be in March.
“Approval of the Project Management Plan, Mining Proposal and Mine Closure Plan is another important milestone in the development pathway for the Gruyere gold project, and importantly completed to the project schedule,” Gold Road Resources managing director and CEO Ian Murray said in the company’s announcement to the Australian Securities Exchange.
“The JV project team remains focused on the commencement of construction of the process plant and infrastructure in the March 2017 quarter with contracts expected to be awarded soon to allow progress to continue to plan.”