Ann: Change of Director's Interest Notice - Peter Hood, page-12

interesting from the $tockhead
giving it a potential seat at the table in discussions on the development of its world class Hemi mine in the Pilbara.
In a reporting season where the top gold performer so far has been African-focused Perseus Mining (ASXRU), Gold Road Resources (ASX:GOR) has scored a point for the WA gold producers, with investors taking a shine to its strong full year results.
GOR bucked the trend across the gold space, with profits up from $36.8m in 2021 to $63.7m in 2022 on record gold sales of 156,426oz from its half-share of the Gruyere gold mine near Laverton, co-owned with South African gold giant Gold Fields.
The miner’s total comprehensive profit came in at $130.9m, incorporating the increase in the fair value of its ASX listed investments, many picked up in the DGO Gold takeover which netted Gold Road a significant stake in De Grey Mining (ASXEG) giving it a potential seat at the table in discussions on the development of its world class Hemi mine in the Pilbara.
Gold Road will pay a fully franked dividend of 0.5c per share, with cash and short term deposits of $74.4m along with liquid investments worth $406.5m, much of that in its strategic 19.99% stake in $2b capped De Grey.
The Gruyere mine will tip over 1Moz this year since its first gold pour in June 2019, representing the best gold development to be brought to market in Australia since the Tropicana mine.
Nothing in that class or above Hemi, expected to be larger in scale still than the ~350,000ozpa Gruyere, has been discovered since.
Gold Road’s full year dividends came in 1.5x higher than in 2021 on the stronger financial performance, with EBITDA up $60.6m to $180.8m and EBITDA margins up from 44% to 47% despite the impact of cost pressures and inflation across the gold sector.
Gold Road’s realised prices were also up from $2210/oz in 2021 to $2448/oz in 2022, having cleared some out of the money hedges last year.