Gruyere Gold Production Could Increase
The production increase was driven by purchase of larger SAG and ball mills, lifting processing throughput to 8.2 million mt/y in fresh rock beginning in 2021; slight improvements to expected metallurgical recoveries; and the addition of two deposits to the mine plan. The updated plan now calls for mining of 96.6 million mt at an average head grade of 1.21 g/mt gold. All-in sustaining costs are forecast at A$1,600/oz.
First gold production from the Gruyere project remains on target for the June quarter of 2019. As of November 2018, all major equipment and materials were on site and overall project and EPC construction (process plant and associated infrastructure) were 85% and 77% complete, respectively.
“It has been an incredible journey for Gold Road since discovering Gruyere in 2013,” said Gold Road Managing Director and CEO Duncan Gibbs “The cash flow Gruyere will produce from 2019 will be substantial.”