Gold Road Downgrades 2025 Production, Cost Guidance
By Rhiannon Hoyle
Gold Road Resources on Monday downgraded annual production and cost guidance, citing previously reported issues with primary crusher maintenance, failure of conveyor belts and lower-than-anticipated ore from the Gruyere gold mine.
Gold Road owns half of the Gruyere mine in a joint venture with South Africa's Gold Fields, which manages the operation. The Australian company in May agreed to a sweetened US$2.4 billion takeover by Gold Fields, after rejecting an earlier bid amid surging gold prices.
Gold Road said year-to-date production at Gruyere is lower than expected, totaling 196,554 troy ounces to Aug. 31.
Production at the mine is now expected to total between 310,000 and 320,000 ounces in 2025, down from earlier guidance of between 325,000 and 355,000 ounces, Gold Road said.
The company said its attributable all-in sustaining cost is consequently expected to be between 2,600 Australian dollars (US$1,729) and A$2,800 per ounce this year. Gold Road had previously guided to annual costs between A$2,400 and A$2,600 an ounce.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
September 14, 2025 18:54 ET (22:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States