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
09-14-25 1854ET
