Gold Road to De Grey (DEG):
The June quarterly report from Gold Road (GOR) was the pick of the crop. It was rewarded accordingly, popping 8.5% higher in Thursday’s market to $1.34.
It reported production at its 50%-owned Gruyere mine was a record 85,676 ounces at an ASIC of just $A1,250/oz as a result of the higher grades the joint venture with Gold Fields (operator) has been working towards capturing coming to the fore.
Cash and equivalents grew to $161m, up from $138m, and it remains debt-free. It is also in the process of wrapping up its scrip bid for DGO, which apart from some other bits and pieces, delivered a 14.4% shareholding in De Grey.
It seems likely that Gold Road will not be stopping at 14.4%. An initial move to 20% would make sense, followed by discussions about a nil-premium merger. No guarantees in any of that. But it does seem the most likely course.
Gold Road’s growing cash position would make financing the $850m development of De Grey’s 10 million ounce Mallina deposit in the Pilbara easier to achieve, and while it is not the operator at Gruyere, its senior management does have deep mine development experience.
In relation to the scoping study capex cost of De Grey’s development of an initial 430,000/oz a year mine (It is expected to be upgraded to an annual rate of 500,000/ozs in the coming preliminary feasibility study), the Canaccord report mentioned above increased its capex estimate for the project to $1 billion.
- Forums
- ASX - By Stock
- GOR
- Ann: Quarterly Activities & Cash Flow Report - June 2022
GOR
gold road resources limited
Add to My Watchlist
0.94%
!
$3.15

Ann: Quarterly Activities & Cash Flow Report - June 2022, page-33
Featured News
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
|
|||||
Last
$3.15 |
Change
-0.030(0.94%) |
Mkt cap ! $3.422B |
Open | High | Low | Value | Volume |
$3.18 | $3.19 | $3.15 | $16.60M | 5.245M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1000 | $3.15 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.17 | 25000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 381 | 3.140 |
1 | 10000 | 3.130 |
1 | 6410 | 3.120 |
1 | 500 | 3.110 |
1 | 322 | 3.100 |
Price($) | Vol. | No. |
---|---|---|
3.170 | 25000 | 1 |
3.180 | 50000 | 2 |
3.190 | 50000 | 1 |
3.200 | 6947 | 3 |
3.220 | 4853 | 2 |
Last trade - 16.10pm 25/07/2025 (20 minute delay) ? |
Featured News
GOR (ASX) Chart |
The Watchlist
P.HOTC
HotCopper
Frazer Bourchier, Director, President and CEO
Frazer Bourchier
Director, President and CEO
SPONSORED BY The Market Online