PERTH (miningweekly.com) – Gold miner Gold Road Resources on Friday reported that gold production for the December quarter had increased on the previous quarter on the back of increased plant throughput at the Gruyere gold mine, in Western Australia.
Gold production in the December quarter reached 70 794 oz on a 100% basis, compared with the 55 919 oz produced in the September quarter, with annual production for 2020 reaching 258 173 oz, which was in line with the guidance of between 250 000 oz and 270 000 oz.
All-in sustaining costs for the full year were A$1 273/oz, which was at the lower end of the revised cost guidance of between A$1 250/oz and A$1 350/oz.
Gold Road told shareholders that the joint venture (JV) operation, in which the company holds a 50% interest with South Africa's Gold Fields holding the balance, had processed 2.1-million tonnes of ore, at a head grade of 1.12 g/t during the quarter under review, with gold recoveries reaching 91.8%.
Gold Road’s share of gold sales for the quarter reached 34 554 oz, at an average realised price of A$2 412/oz, and 126 434 oz for the full year, at an average realised price of A$2 330/oz.
The 2021 production guidance for the Gruyere JV is expected in the March quarter of this year, with the announcement of the 2021 mine plan.